|
Report No. : |
352669 |
|
Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ZEZ SILKO, S.R.O. |
|
|
|
|
Registered Office : |
Pod Černým lesem 683, 564 01 Žamberk |
|
|
|
|
Country : |
Czech
Republic |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
24.10.1991 |
|
|
|
|
Com. Reg. No.: |
C 929 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture of electric motors, generators and transformers |
|
|
|
|
No. of Employees : |
175 [2015] |
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 : |
No Complaints |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Czech Republic |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CZECH
REPUBLIC - ECONOMIC OVERVIEW
The Czech Republic is a stable and prosperous market economy
closely integrated with the EU, especially since the country's EU accession in
2004. The auto industry is the largest single industry, and, together with its
upstream suppliers, accounts for nearly 24% of Czech manufacturing. The Czech
Republic produced more than a million cars for the first time in 2010, over 80%
of which were exported. While the conservative, inward-looking Czech financial
system has remained relatively healthy, the small, open, export-driven Czech
economy remains sensitive to changes in the economic performance of its main
export markets, especially Germany. When Western Europe and Germany fell into
recession in late 2008, demand for Czech goods plunged, leading to double digit
drops in industrial production and exports. As a result, real GDP fell sharply
in 2009. The economy slowly recovered in the second half of 2009 and registered
weak growth in the next two years. In 2012 and 2013, however, the economy fell
into a recession again, due both to a slump in external demand in the EU and to
the government’s austerity measures, returning to weak growth in 2014. Foreign
and domestic businesses alike voice concerns about corruption, especially in
public procurement. Other long term challenges include dealing with a rapidly
aging population, funding an unsustainable pension and health care system, and
diversifying away from manufacturing and toward a more high-tech,
services-based, knowledge economy.
|
Source
: CIA |
ZEZ SILKO, S.R.O.
Pod Černým lesem 683
564 01 Žamberk
Telephone:
00420/ 465 673 111
Telefax: 00420/ 465 612 319
E-mail: zez@zez-silko.cz
Web: www.zez-silko.cz
|
Company development |
Positive business development |
(21) |
|
Order situation |
Satisfactory order situation |
(30) |
|
Terms of payment |
usually within agreed terms |
(29) |
|
Business connection |
Business connections are permissible |
(21) |
|
Legal form |
Private limited company |
|
|
Foundation |
24/10/1991 - Private limited company |
|
Comp. Register |
24/10/1991, Krajský soud Hradec
Králové, RegNr.: C 929 |
|
Share Capital |
18/11/1993 |
CZK |
100 000,- |
|
|
|
29/06/2000 |
CZK |
5 100 000,- |
|
|
|
04/07/2008 |
CZK |
20 000 000,- |
|
|
Shareholders |
CIRCUTOR S.A. |
CZK |
19 000 000,- |
|
|
|
Ing. Jiří
Prokopec (02.07.1955) |
CZK |
1 000 000,- |
|
|
Management |
Fernando Gil
Torné (04.08.1951) |
|||
|
|
Ing. Jiří
Prokopec (02.07.1955) |
|
General Data |
Manufacture and sale of condensers, compensation and filtration
devices for both low current and high current facilities. |
|
|
Main activity: |
|
|
|
Former name(s) |
|
|
|
SILKO, s.r.o. |
|
|
ZES SILKO, s.r.o. |
|
|
Trade name(s) |
|
|
|
Export: |
66% |
|
|
Import: |
|
|
|
General
contacts: |
|
|
|
Address: |
|
|
Pod Černým lesem 683, 564 01
Žamberk |
|
|
Pod Černým lesem 683, 564 22
Žamberk |
|
|
28. října 1019, Žamberk |
|
Staff |
2009 |
153 employees |
|
|
2010 |
165 employees |
|
|
2012 |
182 employees |
|
|
2013 |
164 employees |
|
|
2014 |
173 employees |
|
|
2015 |
175 employees |
|
Annual Sales |
2005 |
actual sales |
CZK |
187 979 000,- |
|
|
|
2006 |
actual sales |
CZK |
207 884 000,- |
|
|
|
2007 |
actual sales |
CZK |
244 677 000,- |
|
|
|
2008 |
actual sales |
CZK |
271 453 000,- |
|
|
|
2009 |
actual sales |
CZK |
200 294 000,- |
|
|
|
2010 |
actual sales |
CZK |
246 329 000,- |
|
|
|
2013 |
actual sales |
CZK |
264 656 000,- |
|
|
|
2014 |
actual sales |
CZK |
281 181 000,- |
|
|
Property |
Property of the company: Business
premises |
|
Balance sheets |
The enclosed balance of 2014 from business
register, it is authenticated by the auditor. (31.12.2014 - 1 CZK) |
|
|
The enclosed profit/loss account of 2014 from
business register, it is authenticated by the auditor. (31.12.2014 - 1 CZK) |
|||
|
Auditor |
NSG Morison
audit s.r.o. (Statistical number: 25740415) |
|
||
|
Remarks |
The company is a holder of ISO 9001
certificate. |
|
|
Business management: |
|
Bankers |
Komerční banka, a.s. |
(0100) |
|
Copyright: |
This information is addressed exclusively to the addressee. Contractor
obligates to provide updated information. Although it is always put maximum effort
to collect actual and exact information, it is not confirmed as delinquency
if there are particular inaccurateness contained within the information,
which are not considered as essential in terms of the objective for which the
information is provided to the addressee. Contractor and recipient conform to
the rules of the Name and Description Security Act, Nub.101/2000. According
to the Name and Description Security Act, recipient has the right to process
or to use forwarding data only for the purpose for which information has been
sent to the recipient. Usage for other purpose is acceptable only in case
referring to valid regulations of the above mentioned act. |
|
Financial
statements
|
||
|
BALANCE |
31.12.2012 (CZK) |
31.12.2013 (CZK) |
31.12.2014 (CZK) |
|
|
TOTAL ASSETS |
235 446 000 |
231 840 000 |
236 907 000 |
|
|
Receivables for subscriptions |
|
0 |
|
|
|
Fixed assets |
89 000 000 |
87 442 000 |
83 292 000 |
|
|
Intangible fixed assets |
75 000 |
512 000 |
423 000 |
|
|
Incorporation expenses |
|
0 |
|
|
|
Research and development |
|
0 |
|
|
|
Software |
75 000 |
512 000 |
423 000 |
|
|
Valuable rights |
|
0 |
|
|
|
Goodwill |
|
0 |
|
|
|
Other intangible fixed assets |
|
0 |
|
|
|
Intangible fixed assets under construction |
|
0 |
|
|
|
Advance payments for intangible fixed assets |
|
0 |
|
|
|
Tangible fixed assets |
88 925 000 |
86 930 000 |
82 869 000 |
|
|
Lands |
4 397 000 |
4 397 000 |
4 397 000 |
|
|
Constructions |
64 700 000 |
63 981 000 |
62 559 000 |
|
|
Equipment |
17 169 000 |
15 600 000 |
10 768 000 |
|
|
Perennial corps |
|
0 |
|
|
|
Breeding and draught animals |
|
0 |
|
|
|
Other tangible fixed assets |
|
0 |
|
|
|
Tangible fixed assets under construction |
2 659 000 |
2 952 000 |
5 145 000 |
|
|
Advance payments for tangible fixed assets |
|
0 |
|
|
|
Adjustment to acquired assets |
|
0 |
|
|
|
Long-term financial assets |
0 |
0 |
0 |
|
|
Shares in controlled and managed organizations |
|
0 |
|
|
|
Shares in accounting units with substantial influence |
|
0 |
|
|
|
Other securities and shares |
|
0 |
|
|
|
Loans to controlled and managed organizations and to accounting unit with
substantial influence |
|
0 |
|
|
|
Other financial investments |
|
0 |
|
|
|
Financial investments acquired |
|
0 |
|
|
|
Advance payments for long-term financial assets |
|
0 |
|
|
|
Current assets |
145 862 000 |
143 735 000 |
152 228 000 |
|
|
Inventory |
67 173 000 |
68 343 000 |
69 999 000 |
|
|
Materials |
40 637 000 |
37 814 000 |
42 006 000 |
|
|
Work in progress and semi-products |
14 456 000 |
14 101 000 |
9 742 000 |
|
|
Finished products |
11 196 000 |
13 556 000 |
18 234 000 |
|
|
Animals |
|
0 |
|
|
|
Merchandise |
17 000 |
17 000 |
17 000 |
|
|
Advance payments for inventory |
867 000 |
2 855 000 |
|
|
|
Long-term receivables |
0 |
0 |
761 000 |
|
|
Trade receivables |
|
0 |
|
|
|
Receivables from controlled and managed organizations |
|
0 |
|
|
|
Receivables from accounting units with substantial influence |
|
0 |
|
|
|
Receivables from partners, cooperative members and association members |
|
0 |
|
|
|
Long-term deposits given |
|
0 |
|
|
|
Estimated receivable |
|
0 |
|
|
|
Other receivables |
|
0 |
|
|
|
Deferred tax receivable |
|
0 |
761 000 |
|
|
Short-term receivables |
49 313 000 |
63 616 000 |
49 706 000 |
|
|
Trade receivables |
38 428 000 |
62 289 000 |
47 801 000 |
|
|
Receivables from controlled and managed organizations |
|
0 |
|
|
|
Receivables from accounting units with substantial influence |
|
0 |
|
|
|
Receivables from partners, cooperative members and association members |
|
0 |
|
|
|
Receivables from social security and health insurance |
|
0 |
|
|
|
Due from state - tax receivable |
211 000 |
1 237 000 |
738 000 |
|
|
Short-term deposits given |
|
0 |
1 096 000 |
|
|
Estimated receivable |
|
40 000 |
20 000 |
|
|
Other receivables |
10 674 000 |
50 000 |
51 000 |
|
|
Short-term financial assets |
29 376 000 |
11 776 000 |
31 762 000 |
|
|
Cash |
56 000 |
209 000 |
109 000 |
|
|
Bank accounts |
29 320 000 |
11 567 000 |
31 653 000 |
|
|
Short-term securities and ownership interests |
|
0 |
|
|
|
Short-term financial assets acquired |
|
0 |
|
|
|
Accruals |
584 000 |
663 000 |
1 387 000 |
|
|
Deferred expenses |
584 000 |
663 000 |
1 376 000 |
|
|
Complex deferred costs |
|
0 |
|
|
|
Deferred income |
|
0 |
11 000 |
|
|
TOTAL LIABILITIES |
235 446 000 |
231 840 000 |
236 907 000 |
|
|
Equity |
188 238 000 |
192 300 000 |
204 031 000 |
|
|
Registered capital |
20 000 000 |
20 000 000 |
20 000 000 |
|
|
Registered capital |
20 000 000 |
20 000 000 |
20 000 000 |
|
|
Company’s own shares and ownership interests (-) |
|
0 |
|
|
|
Changes of registered capital ( +/- ) |
|
0 |
|
|
|
Capital funds |
277 000 |
-4 416 000 |
-2 410 000 |
|
|
Share premium |
|
0 |
|
|
|
Other capital funds |
|
0 |
|
|
|
Differences from revaluation of assets and liabilities ( +/- ) |
277 000 |
-4 416 000 |
-2 410 000 |
|
|
Differences from revaluation in transformation ( +/- ) |
|
0 |
|
|
|
Reserve funds, statutory reserve account for cooperatives, and other
retained earnings |
2 360 000 |
2 393 000 |
342 000 |
|
|
Legal reserve fund / indivisible fund |
2 000 000 |
2 000 000 |
|
|
|
Statutory and other funds |
360 000 |
393 000 |
342 000 |
|
|
Profit / loss - previous years |
141 244 000 |
153 247 000 |
166 831 000 |
|
|
Retained earnings from previous years |
141 244 000 |
153 247 000 |
166 831 000 |
|
|
Accumulated losses from previous years |
|
0 |
|
|
|
Profit / loss - current year (+/-) |
24 357 000 |
21 076 000 |
19 268 000 |
|
|
Decided on advance for payment of a profit share |
0 |
|
0 |
|
|
Liabilities |
47 151 000 |
39 479 000 |
32 815 000 |
|
|
Reserves |
0 |
0 |
1 193 000 |
|
|
Reserves under special statutory regulations |
|
0 |
|
|
|
Reserves for pension and similar payables |
|
0 |
|
|
|
Income tax reserves |
|
0 |
|
|
|
Other reserves |
|
0 |
1 193 000 |
|
|
Long-term payables |
0 |
0 |
0 |
|
|
Trade payables |
|
0 |
|
|
|
Payables to controlled and managed organizations |
|
0 |
|
|
|
Payables to accounting units with substantial influence |
|
0 |
|
|
|
Payables from partners, cooperative members and association members |
|
0 |
|
|
|
Long-term advances received |
|
0 |
|
|
|
Issues bonds |
|
0 |
|
|
|
Long-term notes payables |
|
0 |
|
|
|
Estimated payables |
|
0 |
|
|
|
Other payables |
|
0 |
|
|
|
Deferred tax liability |
|
0 |
|
|
|
Short-term payables |
38 326 000 |
36 090 000 |
31 622 000 |
|
|
Trade payables |
19 961 000 |
19 911 000 |
15 427 000 |
|
|
Payables to controlled and managed organizations |
|
0 |
|
|
|
Payables to accounting units with substantial influence |
|
0 |
|
|
|
Payables from partners, cooperative members and association members |
14 607 000 |
6 712 000 |
4 938 000 |
|
|
Payroll |
45 000 |
48 000 |
3 468 000 |
|
|
Payables to social securities and health insurance |
1 687 000 |
1 719 000 |
1 977 000 |
|
|
Due from state - tax liabilities and subsidies |
448 000 |
381 000 |
530 000 |
|
|
Short-term deposits received |
971 000 |
1 406 000 |
2 210 000 |
|
|
Issues bonds |
|
0 |
|
|
|
Estimated payables |
522 000 |
1 409 000 |
575 000 |
|
|
Other payables |
85 000 |
4 504 000 |
2 497 000 |
|
|
Bank loans and financial accommodations |
8 825 000 |
3 389 000 |
0 |
|
|
Long-term bank loans |
|
0 |
|
|
|
Short-term bank loans |
8 825 000 |
3 389 000 |
|
|
|
Short-term accommodations |
|
0 |
|
|
|
Accruals |
57 000 |
61 000 |
61 000 |
|
|
Accrued expenses |
|
0 |
|
|
|
Deferred revenues |
57 000 |
61 000 |
61 000 |
|
|
|
|
|
|
|
|
PROFIT/LOSS ACCOUNT |
31.12.2012 (CZK) |
31.12.2013 (CZK) |
31.12.2014 (CZK) |
|
|
Turnover |
275 096 000 |
264 656 000 |
281 181 000 |
|
|
Revenues from sold goods |
9 984 000 |
12 968 000 |
13 173 000 |
|
|
Expenses on sold goods |
8 516 000 |
11 566 000 |
11 215 000 |
|
|
Sale margin |
1 468 000 |
1 402 000 |
1 958 000 |
|
|
Production |
262 223 000 |
255 178 000 |
269 838 000 |
|
|
Revenues from own products and services |
265 112 000 |
251 688 000 |
268 008 000 |
|
|
Change in inventory of own products |
-3 798 000 |
2 160 000 |
319 000 |
|
|
Capitalization |
909 000 |
1 330 000 |
1 511 000 |
|
|
Production consumption |
158 317 000 |
158 684 000 |
166 025 000 |
|
|
Consumption of material and energy |
140 601 000 |
142 382 000 |
147 089 000 |
|
|
Services |
17 716 000 |
16 302 000 |
18 936 000 |
|
|
Added value |
105 374 000 |
97 896 000 |
105 771 000 |
|
|
Personnel expenses |
59 242 000 |
58 156 000 |
63 510 000 |
|
|
Wages and salaries |
43 145 000 |
42 203 000 |
46 217 000 |
|
|
Renumeration of board members |
|
0 |
|
|
|
Social security expenses and health insurance |
14 367 000 |
14 204 000 |
15 460 000 |
|
|
Other social expenses |
1 730 000 |
1 749 000 |
1 833 000 |
|
|
Taxes and fees |
713 000 |
733 000 |
728 000 |
|
|
Depreciations of intangible and tangible assets |
14 180 000 |
13 800 000 |
12 736 000 |
|
|
Revenues from disposals of fixed assets and materials |
189 000 |
279 000 |
325 000 |
|
|
Revenues from disposals of fixed assets |
|
72 000 |
16 000 |
|
|
Revenues from disposals of materials |
189 000 |
207 000 |
309 000 |
|
|
Net book value of disposed fixed assets and materials |
386 000 |
442 000 |
65 000 |
|
|
Net book value of sold fixed assets |
|
0 |
|
|
|
Net book value of sold material |
386 000 |
442 000 |
65 000 |
|
|
Change in operating reserves and adjustments and complex deferred
costs ( + / - ) |
18 000 |
-574 000 |
-3 975 000 |
|
|
Other operating revenues |
1 571 000 |
153 000 |
493 000 |
|
|
Other operating expenses |
353 000 |
1 312 000 |
5 601 000 |
|
|
Transfer of operating revenues |
|
0 |
|
|
|
Transfer of operating expenses |
|
0 |
|
|
|
Operating profit / loss |
32 242 000 |
24 459 000 |
27 924 000 |
|
|
Revenues from sales of securities and ownership interests |
|
0 |
|
|
|
Sold securities and ownership interests |
|
0 |
|
|
|
Revenues from long-term financial assets |
0 |
0 |
0 |
|
|
Revenues from shares in controlled and managed organizations and in
accounting units with substantial influence |
|
0 |
|
|
|
Revenues from others securities and ownership interests |
|
0 |
|
|
|
Revenues from other long-term financial assets |
|
0 |
|
|
|
Revenues from short-term financial assets |
|
0 |
|
|
|
Expenses associated with financial assets |
|
0 |
|
|
|
Revenues from revaluation of securities and derivatives |
|
0 |
|
|
|
Cost of revaluation of securities and derivatives |
|
0 |
|
|
|
Change in financial reserves and adjustments ( + / - ) |
|
0 |
|
|
|
Interest revenues |
13 000 |
5 000 |
|
|
|
Interest expenses |
128 000 |
2 000 |
|
|
|
Other financial revenues |
3 763 000 |
6 082 000 |
|
|
|
Other financial expenses |
6 188 000 |
4 583 000 |
|
|
|
Transfer of financial revenues |
|
0 |
|
|
|
Transfer of financial expenses |
|
0 |
|
|
|
Profit / loss from financial operations ( transactions ) |
-2 540 000 |
1 502 000 |
|
|
|
Income tax on ordinary income |
5 345 000 |
4 885 000 |
|
|
|
Due tax |
5 345 000 |
4 885 000 |
|
|
|
Tax deferred |
|
0 |
|
|
|
Operating profit / loss ordinary activity |
24 357 000 |
21 076 000 |
|
|
|
Extraordinary revenues |
|
0 |
|
|
|
Extraordinary expenses |
|
0 |
|
|
|
Income tax on extraordinary income |
0 |
0 |
|
|
|
Due tax |
|
0 |
|
|
|
Tax deferred |
|
0 |
|
|
|
Operating profit / loss extraordinary activity |
0 |
0 |
|
|
|
Transfer profit ( loss ) to partners (+/-) |
|
0 |
|
|
|
Profit / loss of current accounting period (+/-) |
24 357 000 |
21 076 000 |
|
|
|
Profit / loss before tax (+/-) |
29 702 000 |
25 961 000 |
|
|
|
Operating cash flow |
44 456 000 |
|
47 509 000 |
|
|
Investment cash flow |
-19 770 000 |
|
-8 570 000 |
|
|
Financial cash flow |
-13 593 000 |
|
-115 564 000 |
|
|
Receivables after due date total |
|
25 881 000 |
13 462 000 |
|
|
Liabilities after due date total |
|
889 000 |
602 000 |
|
|
|
|
|
|
|
|
BALANCE INDICES |
|
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
Return on total assets ROA (in %) |
a62/r1 * 100 |
12,62 |
11,20 |
n/a |
|
|
Return on equity ROE (in %) |
a62/r68 * 100 |
15,78 |
13,50 |
n/a |
|
|
Return on sales ROS (in %) |
a62/a1 * 100 |
39,41 |
35,80 |
n/a |
|
|
Turnover of receivables (in days) |
r49/a1 * 365 |
50,99 |
85,91 |
62,05 |
|
|
Turnover of liabilities (in days) |
r103/a1 * 365 |
26,48 |
27,46 |
20,03 |
|
|
Turnover of inventories (days) |
r32/a1 * 365 |
89,13 |
94,26 |
90,87 |
|
|
Net working capital (in ths. CZK) |
r31 - r102 - r116 - r117 |
98 711,00 |
104 256,00 |
120 606,00 |
|
|
Ratio of accounts payable to accounts receivable (in %) |
(r39+r48) / (r91+r102) * 100 |
128,67 |
176,27 |
159,59 |
|
|
Ratio of profit/loss to tangible assets (in%) |
r3 / a1 * 100 |
32,35 |
33,04 |
29,62 |
|
|
Current ratio |
r31 / (r102+r116+r117) |
3,09 |
3,64 |
n/a |
|
|
Quick ratio |
(r58+r48) / (r102+r116+r117) |
1,67 |
1,91 |
2,58 |
|
|
Cash ratio |
r58 / (r102+r116+r117) |
0,62 |
0,30 |
n/a |
|
|
Debt ratio I (in %) |
(1-r68/r67) * 100 |
20,05 |
17,05 |
13,88 |
|
|
Debt ratio II (in %) |
r85/r67 * 100 |
20,03 |
17,03 |
13,85 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
CZK |
1 |
Rs.2.67 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.