MIRA INFORM REPORT
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Report No. : |
355292 |
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Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
BGM POLICY INNOVATIONS PRIVATE LIMITED |
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|
|
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Registered
Office : |
Plot No.36, Sarvasukhi Colony, West Maredpally, Secunderabad-500026,
Telangana |
|
Mob. No.: |
91-9502445672 (Mr. Gopal) |
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Country : |
India |
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Financials (as on)
: |
31.03.2014 |
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Date of
Incorporation : |
12.08.2009 |
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Com. Reg. No.: |
064718 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U93000TG2009PTC064718 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is a consulting firm in the business of enabling Social Impact
Specifically in the education and health sector, the company provides clients
with impact evaluation services about the benefits of the program.
(Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2009 having moderate track
record. For the financial year ended 2014, company possesses weak operational
performance and it has incurred huge loss from its operations during the year
under review. Rating remain constrained on account of company’s moderate financial
risk profile marked by negative net worth position and weak debt coverage
indicators of the company. Payments are reported to be slow. The company can be considered for business dealings on safe and secured
trade terms and conditions. Note: Management of
the company has not filed its financial with government department for the
year 2015 and same are not available from any sources. |
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Gopal |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9502445672 |
|
Date : |
16.12.2015 |
LOCATIONS
|
Registered Office : |
Plot No.36, Sarvasukhi Colony, West Maredpally, Secunderabad-500026,
Telangana, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9502445672 (Mr. Varun) 91-9502445672 (Mr. Gopal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Mandava Naveen |
|
Designation : |
Director |
|
Address : |
Flat No 310, Saptagiri Apartment (Phase-1), H.No.6-1-279
and 279/12, Padmarao Nagar, Secunderabad-500025, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.01.1979 |
|
Date of Appointment : |
12.08.2009 |
|
DIN No.: |
02715101 |
|
|
|
|
Name : |
Mr. Varun Kumar |
|
Designation : |
Director |
|
Address : |
Flat No 207 Saptagiri Apartment Phase 1,, Padmarao Nagar
Opposite SBI Bank,, Hyderabad-500029, Andhra Pradesh, India |
|
Date of Birth/Age : |
07.07.1983 |
|
Date of Appointment : |
01.01.2011 |
|
DIN No.: |
05114298 |
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|
|
|
Name : |
Mr. Kartik Ramachandram Srivatsa |
|
Designation : |
Director |
|
Address : |
3rd Floor, # 5, 12th Block, 5th Main, Kumara Park-West,
Bangalore-560020, Karnataka, India |
|
Date of Appointment : |
30.10.2014 |
|
DIN No.: |
03559152 |
KEY EXECUTIVES
|
Name : |
Mr. Gopal |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Varun Kumar |
5000 |
|
Mandava Naveen |
5000 |
|
Total |
10000 |
AS ON 30.10.2014
|
Names of Allottee |
No. of
Preference Shares |
|
Aspada Investment Company, Mauritius |
1897 |
|
Total |
1897 |
AS ON 30.10.2014
|
Names of Allottee |
No. of Equity
Shares |
|
Aspada Investment Company, Mauritius |
100 |
|
Total |
100 |
AS ON 01.06.2015
|
Names of Allottee |
No. of
Preference Shares |
|
Aspada Investment Company, Mauritius |
1494 |
|
Total |
1494 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a consulting firm in the business of enabling Social Impact
Specifically in the education and health sector, the company provides clients
with impact evaluation services about the benefits of the program.
(Registered Activity) |
|
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Phaneendra and Company Chartered Accountants |
|
Address : |
No.15-73, Sree Kodandarama Nagar, Dilshukhnagar, Hyderabad-500060,
Andhra Pradesh, India |
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Tel. No.: |
91-40-23412011 |
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Mobile No.: |
91-9246105828 |
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Income-tax
PAN of auditor or auditor's firm : |
AGEPD7238D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 0.210 Million
Issued, Subscribed & Paid-up Capital : Rs. 0.155
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
(0.457) |
1.168 |
0.718 |
|
(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) |
(0.357) |
1.268 |
0.818 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.068 |
0.037 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.068 |
0.037 |
0.000 |
|
|
|
|
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|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1.131 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.743 |
0.015 |
0.181 |
|
(c)
Other current liabilities |
0.496 |
0.200 |
0.198 |
|
(d)
Short-term provisions |
1.784 |
0.778 |
0.302 |
|
Total
Current Liabilities (4) |
4.154 |
0.993 |
0.681 |
|
|
|
|
|
|
TOTAL |
3.865 |
2.298 |
1.499 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.526 |
0.416 |
0.136 |
|
(ii)
Intangible Assets |
0.012 |
0.015 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.745 |
0.687 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1.283 |
1.118 |
0.136 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
2.466 |
0.337 |
0.287 |
|
(d)
Cash and cash equivalents |
0.101 |
0.399 |
0.657 |
|
(e)
Short-term loans and advances |
0.015 |
0.444 |
0.179 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.240 |
|
Total
Current Assets |
2.582 |
1.180 |
1.363 |
|
|
|
|
|
|
TOTAL |
3.865 |
2.298 |
1.499 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8.274 |
|
|
|
|
|
Other Income |
0.041 |
0.000 |
|
|
|
|
TOTAL |
8.315 |
9.552 |
5.689 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
9.900 |
8.813 |
4.991 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
(1.585) |
0.739 |
0.697 |
|
|
|
|
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|
|
|
|
Less |
TAX |
0.041 |
0.301 |
0.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(1.626) |
0.438 |
0.490 |
|
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|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5.167 |
2.993 |
2.235 |
|
|
TOTAL EARNINGS |
5.167 |
2.993 |
2.235 |
|
|
|
|
|
|
|
|
|
|
Earnings/
(Loss) Per Share (Rs.) |
(162.55) |
43.81 |
49.06 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(19.65) |
4.59 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(41.01) |
32.16 |
46.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
4.44 |
0.58 |
0.85 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(3.17) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.62 |
1.19 |
2.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.718 |
1.168 |
(0.457) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
0.818 |
1.268 |
(0.357) |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
1.131 |
|
Total
borrowings |
0.000 |
0.000 |
1.131 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
(3.168) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
5.689 |
9.552 |
8.315 |
|
|
|
67.903 |
(12.950) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
5.689 |
9.552 |
8.315 |
|
Profit |
0.490 |
0.438 |
(1.626) |
|
|
8.61% |
4.59% |
(19.56%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loan from
related parties |
|
|
|
Varun Kumar A/c |
1.131 |
0.000 |
|
|
|
|
|
Total |
1.131 |
0.000 |
REVIEW OF OPERATIONS:
The Company has earned
total revenue from Services of Rs.83.15 lakhs during the year as compared to
Rs. 9.552 Million during the previous year. The Company incurred Loss of Rs.
1.625 Million during the year as compared to profit of Rs. 0.438 Million in the
previous year due to unfavorable market conditions.
FUTURE PROSPECTUS:
The Directors are working
for investments in to company from investors for furthering the Business of the
Company and expect good financial year 2014-15 ahead.
NATURE OF
BUSINESS:
Subject is a consulting firm in the business of enabling social impact.
Specifically in the education and health sector, the company provides clients
with impact evaluation services about the benefits of the program. The business
requires a combination of ground operations and analytics to provide effective
decision support to the clients.
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from Flat No. 310,
Saptagiri Apartment, (Phase-1), H. No. 6-1-279 and 279/12, Padmarao Nagar,
Secunderabad-500025, Andhra Pradesh, India to the present address w.e.f
30.10.2013
FIXED ASSETS:
Tangible Assets
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
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] Records 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. 66.32 |
|
|
1 |
Rs. 98.99 |
|
Euro |
1 |
Rs. 72.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
14 |
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.