MIRA
INFORM REPORT
|
Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SKYLINE CARGO AGENTS PRIVATE LIMITED |
|
|
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Registered
Office : |
B-411, Somdutt Chambers-I, 5, Bhikaji Cama Place, New Delhi – 110 066 |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
06.01.1988 |
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Com. Reg. No.: |
55-030224 |
|
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|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.166
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1988PTC030224 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject act as a Custom Clearing Agency and also engaged into freight forwarding
business. |
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|
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|
No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 90000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. Liquidity
position of the company is strong and healthy. Trade relations
are reported to be fair. Business is active. Payments are reported to be
usually correct. The company can
be considered for business dealing at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Shiv Kumar Gulati |
|
Designation : |
Director |
|
Contact No.: |
91-9810011572 |
|
Date : |
12.05.2014 |
LOCATIONS
|
Registered Office : |
B-411, Somdutt Chambers-I, 5, Bhikaji Cama Place, New Delhi – 110 066,
India |
|
Tel. No.: |
91-11-26161253/ 26178736/
26184239 |
|
Mobile No.: |
91-9810011572 (Mr. S.K.
Gulati) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
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Branch Office : |
402-A, Vikas, 11, Bank Street, Fort, Mumbai – 400 023, Maharashtra,
India |
|
Tel. No.: |
91-22-22622846 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Shiv Kumar Gulati |
|
Designation : |
Director |
|
Address : |
C-8B, MIG Flats, Mayapuri, New Delhi, India |
|
Date of Birth/Age : |
17.10.1947 |
|
Date of Appointment : |
22.12.2006 |
|
DIN No.: |
00619759 |
|
|
|
|
Name : |
Mr. Krishan Kumar Sachdeva |
|
Designation : |
Director |
|
Address : |
14/187, Malviya Nagar, New Delhi, India |
|
Date of Birth/Age : |
19.08.1954 |
|
Date of Appointment : |
06.01.1988 |
|
DIN No.: |
00570927 |
|
|
|
|
Name : |
Mr. Ashok Kumar Gulati |
|
Designation : |
Director |
|
Address : |
702-B, Express Apartment, Yari Road, Versova, Mumbai – 400 023,
Maharashtra, India |
|
Date of Birth/Age : |
02.01.1946 |
|
Date of Appointment : |
06.01.1988 |
|
DIN No.: |
00725321 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Shiv Kumar Gulati |
661 |
39.75 |
|
Krishan Kumar Sachdeva |
533 |
32.05 |
|
Ashok Kumar Gulati |
469 |
28.20 |
|
Total
|
1663 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject act as a Custom Clearing Agency and also engaged into freight forwarding
business. |
|
|
|
|
Products/ Services : |
·
Air Freight Forwarding ·
Sea Freight Forwarding ·
Import Custom Clearance ·
Export Freight Forwarding |
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Terms : |
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Selling : |
Advance Payment |
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Purchasing : |
Advance Payment |
GENERAL INFORMATION
|
Customers : |
End Users and Others (Corporate) |
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No. of Employees : |
45 (Approximately) |
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Bankers : |
·
Vijaya Bank, Bhikaji
Cama Place Branch, New Delhi, India ·
Punjab National Bank,
Moti Bagh, New Delhi, India ·
State Bank of India, New
Delhi ·
Punjab National Bank,
Mumbai ·
State Bank of India,
Navasheva ·
Citi Bank, Mumbai,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
KPMR and Associates Chartered Accountants |
|
Address : |
211, Delhi Chamber, Delhi Gate, New Delhi – 110 002, India |
|
PAN No.: |
AAAFF1124G |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000 |
Equity Shares |
Rs.100/- each |
Rs.0.300 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1663 |
Equity Shares |
Rs.100/-
each |
Rs.0.166
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.166 |
0.166 |
0.166 |
|
(b) Reserves & Surplus |
22.384 |
20.734 |
20.213 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
22.550 |
20.900 |
20.379 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.441 |
1.120 |
0.774 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
2.703 |
2.580 |
2.184 |
|
Total Non-current
Liabilities (3) |
3.144 |
3.700 |
2.958 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
8.700 |
4.385 |
8.421 |
|
(b)
Trade payables |
36.111 |
34.156 |
27.451 |
|
(c)
Other current liabilities |
3.887 |
3.451 |
3.661 |
|
(d) Short-term
provisions |
1.075 |
0.425 |
1.323 |
|
Total Current
Liabilities (4) |
49.773 |
42.417 |
40.856 |
|
|
|
|
|
|
TOTAL |
75.467 |
67.017 |
64.193 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4.320 |
5.034 |
4.312 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1.241 |
1.095 |
0.914 |
|
(d) Long-term Loan and Advances |
0.236 |
0.236 |
0.386 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
5.797 |
6.365 |
5.612 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
33.283 |
29.177 |
27.763 |
|
(d) Cash
and cash equivalents |
17.625 |
18.479 |
17.224 |
|
(e)
Short-term loans and advances |
16.022 |
11.684 |
13.445 |
|
(f)
Other current assets |
2.740 |
1.312 |
0.149 |
|
Total
Current Assets |
69.670 |
60.652 |
58.581 |
|
|
|
|
|
|
TOTAL |
75.467 |
67.017 |
64.193 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from
Operations |
|
|
|
|
|
|
(a) Income from operations |
|
|
|
|
|
|
- Billing excluding reimbursement |
47.973 |
45.082 |
47.536 |
|
|
|
(b) Brokerage & Commission |
1.148 |
|
3.334 |
|
|
|
(c) Profit on Freight |
0.385 |
0.287 |
|
|
|
|
(d) Gain on Sale of Licences |
0.000 |
0.004 |
|
|
|
|
Other Income |
1.961 |
1.551 |
|
|
|
|
TOTAL |
51.467 |
48.652 |
50.870 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
47.866 |
46.498 |
45.959 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.601 |
2.154 |
4.911 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.424 |
1.389 |
0.989 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
2.177 |
0.765 |
3.922 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.527 |
0.244 |
1.408 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1.650 |
0.521 |
2.514 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
992.18 |
313.29 |
1511.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.21
|
1.07 |
4.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.23
|
1.57 |
7.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.93
|
1.16 |
6.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.04 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.41
|
0.26 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.43 |
1.43 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
0.166 |
0.166 |
0.166 |
|
Reserves & Surplus |
20.213 |
20.734 |
22.384 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
20.379 |
20.900 |
22.550 |
|
|
|
|
|
|
long-term borrowings |
0.774 |
1.120 |
0.441 |
|
Short term borrowings |
8.421 |
4.385 |
8.700 |
|
Total borrowings |
9.195 |
5.505 |
9.141 |
|
Debt/Equity ratio |
0.451 |
0.263 |
0.405 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
50.870 |
48.652 |
51.467 |
|
|
|
(4.360) |
5.786 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Total Income |
50.870 |
48.652 |
51.467 |
|
Profit |
2.514 |
0.521 |
1.650 |
|
|
4.94% |
1.07% |
3.21% |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
Note:
No Charges Exist for Company.
PERFORMANCE HIGHLIGHTS:
During the year, the
company carried on the business of custom clearing and forwarding agents both
for Import and Export including ICD/LCL clearance and the business of
International Freight Forwarding business under IATA Licence. The gross service
and other charges have increased marginally from Rs.45.082 millions to
Rs.47.973 millions during the year and the net profit before depreciation and
tax increase from Rs.2.155 millions to Rs.3.601 millions.
FIXED ASSETS:
·
Furniture and Fixture
·
Office Equipments
·
Car
·
Air Conditioner
·
Typewriter
·
Fax
·
Computer
·
Refrigerator
·
Stabilizer
·
Invertor
·
Generator
·
Battery
·
Mobile Phone
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.73 |
|
UK Pound |
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.