|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
YASH GEMS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 2, 2018, Antwerpen, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.05.2003 |
|
|
|
|
Com. Reg. No.: |
480721904 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and
other precious stones |
|
|
|
|
No. of Employees : |
01 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank
|
Source
: CIA |
Business number 480721904
Company name YASH GEMS BVBA
Address HOVENIERSSTRAAT 2,
2018, ANTWERPEN,
BELGIUM
Number of staff 0
Date of establishment 27/05/2003
Telephone number 032321733
Fax number 022321744
|
The business was
established over 10 years ago. |
|
|
The business has 1
employees. |
|
|
The business has been at
the address for over 10 years. |
|
|
Pre-tax profits decreased
by 67% compared to the previous trading period. |
|
|
The business saw an
increase in their Cash Balance of 224% during the latest trading period. |
|
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
30,047,356 |
51,831 |
1,376,857 |
1,778,385 |
|
31/12/2011 |
34,691,347 |
161,908 |
1,346,489 |
1,748,928 |
|
31/12/2010 |
22,709,165 |
104,478 |
1,235,488 |
1,639,183 |
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
9,651,654 |
0 |
1,025,100 |
45,812 |
|
31/12/2011 |
8,560,623 |
0 |
1,025,100 |
126,326 |
|
31/12/2010 |
5,557,323 |
1 |
1,025,100 |
95,232 |
|
Payment expectations |
|
|
|
Past payments |
|
Payment expectation days 32.18 |
|
Industry average payment
expectation days |
168.35 |
Industry average day
sales 120.21 outstanding |
|
Day sales outstanding |
69.85 |
|
|
Court data summary |
||
|
BANKRUPTCY DETAILS |
||
|
Court action type |
no |
|
|
Business number |
480721904 |
Company name |
YASH GEMS BVBA |
|
Office address |
Hoveniersstraat 2, Room 416, Box 402, 2018, Antwerpen, Belgium |
|
|
|
Fax number |
022321744 |
Date founded |
27/05/2003 |
|
Company status |
active |
Company type |
Private Limited Company
(BL/LX) |
|
Currency |
Euro (€) |
Date of latest accounts |
31/12/2012 |
|
Activity code |
46761 |
liable for VAT |
yes |
|
Activity description |
Wholesale of diamonds and
other precious stones |
VAT Number |
BE.0480.721.904 |
|
Belgian Bullettin of Acts
Publications |
moniteur belge |
|
|
|
Contractor details |
|
|
Check Article 30 Bis |
|
Social Balance Sheet |
Total |
|
During the reporting year
ended 31-12-2012 |
|
|
Full-time Employees |
- |
|
Part-time Employees |
1 |
|
Total Fte Employees |
1 |
|
|
|
|
Number of hours worked |
|
|
Full-time Employees |
- |
|
Part-time Employees |
878 |
|
Total |
878 |
|
|
|
|
Personnel Charges |
|
|
Full-time Employees |
- |
|
Part-time Employees |
12,573 |
|
Total |
12,573 |
|
Benefits In Addition To
Wages |
- |
|
|
|
|
During the previous
reporting year |
|
|
Average number employees
in Fte |
1 |
|
Actual working hours |
1,682 |
|
Personnel Charges |
40,214 |
|
Benefits In Addition To
Wages |
- |
Personnel (NSSO
classification
|
Code |
- |
|
Description |
FROM 1 TO 4 EMPLOYEES |
Joint Industrial Committee
(JIC)
|
JIC Code |
218 |
|
Description |
Additional national joint
committee for the employees |
|
category |
|
|
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
30,047,356 |
13.39 |
34,691,347 |
52.76 |
22,709,165 |
46,788,819 |
35.78 |
|
|
Total operating expenses |
29,715,852 |
13.31 |
34,280,116 |
52.94 |
22,414,399 |
46,394,806 |
35.95 |
|
|
Operating result |
331,503 |
19.39 |
411,230 |
39.51 |
294,766 |
148,098 |
123 |
|
|
|
Total financial income |
1,642 |
4.61 |
1,570 |
67.94 |
4,897 |
98,058 |
98.33 |
|
|
Total financial expenses |
281,314 |
12.13 |
250,892 |
28.54 |
195,185 |
204,982 |
37.24 |
|
|
Results on ordinary operations before
taxation |
51,831 |
67.99 |
161,908 |
54.97 |
104,478 |
32,874 |
57.67 |
|
|
Taxation |
21,463 |
57.84 |
50,907 |
101 |
25,227 |
20,907 |
2.66 |
|
|
Results on ordinary operations after
taxation |
30,368 |
72.64 |
111,001 |
40.06 |
79,251 |
17,996 |
68.75 |
|
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
-4,526 |
0 |
|
|
Other appropriations |
0.00 |
- |
0.00 |
- |
0 |
- |
- |
|
|
Net result |
30,368 |
72.64 |
111,001 |
40.06 |
79,251 |
13,489 |
125 |
|
OTHER INFORMATION |
||||||||
|
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
|
Director remuneration |
- |
- |
- |
- |
- |
114,302 |
- |
|
|
Employee costs |
12,573 |
68.74 |
40,214 |
16.69 |
34,461 |
126,363 |
90.05 |
|
|
Wages and salary |
13,328 |
56.87 |
30,900 |
11.77 |
27,647 |
105,854 |
87.41 |
|
|
Employee pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
|
Social security contributions |
2,603 |
61.32 |
6,732 |
12.06 |
6,007 |
26,598 |
90.21 |
|
|
Other employee costs |
-3,359 |
-230 |
2,582 |
219 |
807 |
4,380 |
-176 |
|
|
Amortization and depreciation |
15,444 |
0.77 |
15,325 |
-4.11 |
15,981 |
17,934 |
13.89 |
|
|
back to top |
|||||||
|
|
Annual accounts |
31-122012 |
% |
31-122011 |
% |
31-122010 |
Industry average 2012 |
% |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
1,561 |
-100 |
|
|
Tangible fixed assets |
203,898 |
-5.75 |
216,347 |
-5.02 |
227,773 |
185,388 |
9.98 |
|
|
Land & building |
196,449 |
-3.64 |
203,872 |
-3.51 |
211,296 |
362,952 |
45.87 |
|
|
Plant & machinery |
7,141 |
13.54 |
6,289 |
48.30 |
4,241 |
22,760 |
68.62 |
|
|
Furniture & Vehicles |
308 |
95.02 |
6,185 |
49.45 |
12,236 |
17,415 5,433 |
98.23 |
|
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
7,664 |
-100 |
|
|
Financial fixed assets |
- |
- |
- |
- |
- |
309,151 |
- |
|
|
Total fixed assets |
203,898 |
-5.75 |
216,347 |
-5.02 |
227,773 |
398,254 |
48.80 |
|
|
Inventories |
3,166,451 |
28.98 |
2,455,053 |
90.94 |
1,285,746 |
3,108,260 |
1.87 |
|
|
Raw materials & consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,411 |
-100 |
|
|
Finished goods |
3,166,451 |
28.98 |
2,455,053 |
90.94 |
1,285,746 |
1,992,265 |
58.94 |
|
|
Other stocks |
0 |
- |
0 |
- |
0 |
574,368 |
-100 |
|
|
Trade debtors |
5,749,792 |
0.61 |
5,714,825 |
45.95 |
3,915,680 |
4,189,589 |
37.24 |
|
|
Cash |
510,153 |
224 |
157,117 |
63.62 |
96,027 |
226,840 |
124 |
|
|
other amounts receivable |
17,858 |
19.92 |
14,891 |
39.23 |
24,503 |
186,814 |
90.44 |
|
|
Miscellaneous current assets |
3,502 |
46.55 |
2,389 |
68.54 |
7,594 |
18,076 |
80.63 |
|
|
Total current assets |
9,447,756 |
13.22 |
8,344,275 |
56.57 |
5,329,550 |
7,252,094 |
30.28 |
|
|
Total Assets |
9,651,654 |
12.74 |
8,560,623 |
54.04 |
5,557,323 |
7,617,297 1,454,678 |
26.71 |
|
|
CURRENT LIABILITIES |
|||||||
|
|
Trade creditors |
2,620,258 |
20.10 |
3,279,494 |
144 |
1,339,063 |
3,057,888 |
14.31 |
|
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
|
Financial debts |
4,706,524 |
44.16 |
3,264,821 |
46.23 |
2,232,696 |
4,287,536 192,320 |
9.77 |
|
|
Current portion of long term debt |
13,360 |
5.34 |
12,683 |
5.03 |
12,075 |
107,941 15,359 |
87.62 |
|
|
Amounts Payable for Taxes, Remuneration
& Social Security |
8,717 |
75.78 |
35,993 |
104 |
17,589 |
9,445 - |
74.37 |
|
|
Miscellaneous current liabilities |
320,512 |
13498 |
2,357 |
97.35 |
88,944 |
7.12 |
- - |
|
|
Total current liabilities |
7,669,370 |
16.28 |
6,595,348 |
78.72 |
3,690,367 |
5,370,007 |
42.82 |
|
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
|
Other long term loans |
605,426 |
-2.16 |
618,786 |
-2.01 |
631,468 |
-45.11 |
- - |
|
|
Deffered taxes |
- |
- |
- |
- |
- |
37,626 26,358 |
- |
|
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,200 0 |
-100 |
|
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
129,533 |
-100 |
|
|
Total long term debts |
605,426 |
-2.16 |
618,786 |
-2.01 |
631,468 |
562,172 |
7.69 |
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
|
|
Issued share capital |
1,025,100 |
0 |
1,025,100 |
0 |
1,025,100 |
948,360 |
8.09 |
|
|
Share premium account |
4,900 |
0 |
4,900 |
0 |
4,900 |
109,362 |
- |
|
|
|
|
|
|
|
|
|
95.52 |
|
Reserves |
346,857 |
9.60 |
316,489 |
54.02 |
205,488 |
693,149 |
49.96 |
|
|
|
Revaluation reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
|
Total shareholders equity |
1,376,857 |
2.26 |
1,346,489 |
8.98 |
1,235,488 |
1,671,347 |
17.62 |
|
|
Working capital |
1,778,385 |
1.68 |
1,748,928 |
6.70 |
1,639,183 |
1,882,087 |
-5.51 |
|
|
Cashflow |
45,812 |
63.74 |
126,326 |
32.65 |
95,232 |
28,291 |
61.93 |
|
|
Net worth |
1,376,857 |
2.26 |
1,346,489 |
8.98 |
1,235,488 |
1,668,090 |
17.46 |
|
|
back to top |
|||||||
|
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
Profit Before Tax |
0.17 |
-63.83 |
0.47 |
2.17 |
0.46 |
-26,00 |
0.65 |
|
|
Return on capital employed |
2.61 |
-68.33 |
8.24 |
47.14 |
5.60 |
29,00 |
-91.00 |
|
|
Return on total assets employed |
0.54 |
-71.43 |
1.89 |
0.53 |
1.88 |
-202,00 |
0.27 |
|
|
Return on net assets employed |
3.76 |
-68.72 |
12.02 |
42.08 |
8.46 |
19,00 |
-80.21 |
|
|
Sales / net working capital |
16.90 |
-14.82 |
19.84 |
43.25 |
13.85 |
45,00 |
-99 |
|
|
Stock turnover ratio |
10.54 |
48.87 |
7.08 |
25.09 |
5.66 |
111,00 |
-90.50 |
|
|
Debtor days |
69.85 |
16.16 |
60.13 |
-4.46 |
62.94 |
133,00 |
-47.48 |
|
|
Creditor days |
32.18 |
-7.85 |
34.92 |
60.11 |
21.81 |
122,00 |
-73.62 |
|
SHORT TERM STABILITY |
||||||||
|
|
Current ratio |
1.23 |
-3.15 |
1.27 |
-11.81 |
1.44 |
7,00 |
-86.33 |
|
|
Liquidity ratio / acid ratio |
0.82 |
-7.87 |
0.89 |
-19.09 |
1.10 |
4,00 |
-79.50 |
|
|
Current debt ratio |
5.57 |
13.67 |
4.90 |
63.88 |
2.99 |
9,00 |
-38.11 |
|
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
|
LONG TERM STABILITY |
|||||||
|
|
Gearing |
386.77 |
33.66 |
289.37 |
24.30 |
232.80 |
361,00 |
7.14 |
|
|
Equity in percentage |
14.27 |
-9.28 |
15.73 |
-29.24 |
22.23 |
-3.228,00 |
0.44 |
|
|
Total debt ratio |
6.01 |
12.13 |
5.36 |
53.14 |
3.50 |
10,00 |
-39.90 |
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and
other precious stones |
|
industry average credit
rating |
64.48 |
|
Industry average credit
limit |
140177.31 |
|
Payment expectations |
|
|
Payment expectation days |
32.18 |
|
Day sales outstanding |
69.85 |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and other precious
stones |
|
Industry average payment expectation days |
168.35 |
|
Industry average day sales outstanding |
120.21 |
|
Industry quartile analysis |
|
|
Payment expectations |
|
|
Company result |
32.18 |
|
Lower |
134.36 |
|
Median |
84.62 |
|
Upper |
45.29 |
|
Day sales outstanding |
|
|
Company result |
69.85 |
|
Lower |
112.48 |
|
Median |
58.56 |
|
Upper |
28.58 |
|
Group - Number of
Companies |
0 |
|
Linkages - Number of
Companies |
0 |
|
Number of Countries |
0 |
Group Structure
Group structure for this
company
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
|
SHAREHOLDER NAME |
|||
|
Forename |
Sohil |
Middle name |
- |
|
Surname |
Jhaveri |
|
|
|
SHAREHOLDER DETAILS |
|||
|
Start date |
31/12/2008 |
End date |
- |
|
Percentage owned |
13.07% |
|
|
|
SHAREHOLDER ADDRESS |
|||
|
Street name |
Belgielei |
House number |
119 |
|
Minor town |
- |
Postal town |
Antwerpen |
|
Post code |
2018 |
Country |
Belgium |
|
|
|||
|
|
|||
|
SHAREHOLDER NAME |
|||
|
Forename |
Samir |
Middle name |
- |
|
Surname |
Shah |
|
|
|
SHAREHOLDER DETAILS |
|||
|
Start date |
31/12/2008 |
End date |
- |
|
Percentage owned |
34.64% |
|
|
|
SHAREHOLDER ADDRESS |
|||
|
Street name |
Belgielei |
House number |
50 |
|
Minor town |
- |
Postal town |
Antwerpen |
|
Post code |
2018 |
Country |
Belgium |
|
|
|||
|
|
|||
|
SHAREHOLDER NAME |
|||
|
Forename |
Ashit |
Middle name |
- |
|
Surname |
Sanghvi |
|
|
|
SHAREHOLDER DETAILS |
|||
|
Start date |
31/12/2008 |
End date |
- |
|
Percentage owned |
52.28% |
|
|
|
SHAREHOLDER ADDRESS |
|||
|
Street name |
Bajaj Road |
House number |
- |
|
Minor town |
- |
Postal town |
- |
|
Post code |
- |
Country |
India |
|
Drawee name |
- |
|
Address |
- |
|
Bill amount |
- |
|
Bill currency |
- |
|
Maturity of bill |
- |
|
Name of drawer |
- |
|
City of drawer |
- |
|
NSSO details |
|
|
Business number |
480721904 |
|
Name of defendant |
- |
|
Legal form of defendant |
- |
|
Date of summons |
- |
|
Labour court |
- |
|
Bankruptcy details |
|
Bankruptcy detail
There is no bankruptcy data against this company
Court data
There is no data for this
company
|
Name |
SAMIR YOGENDRAKUMAR SHAH |
|
Position |
Principal Manager |
|
Start Date |
09/09/2010 |
|
Street |
50 BELGIELEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the industry
is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.