MIRA INFORM REPORT
|
Report No. : |
309323 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BUHLER (INDIA) PRIVATE LIMITED (w.e.f.27.09.2001) |
|
|
|
|
Formerly Known
As : |
BUHLER (INDIA) LIMITED |
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|
|
|
Registered
Office : |
13-D, 12-D, 13C and 13-B, KIADB Industrial Area, Attibele, Bangalore –
562107, Karnataka |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
21.02.1991 |
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|
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|
Com. Reg. No.: |
08-011695 |
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Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1991PTC011695 |
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|
|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB00692G |
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PAN No.: [Permanent Account No.] |
AAACB5987A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing, marketing and selling of
agri-based and other processing machines. |
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|
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Buhler Holding AG, Switzerland”. It is a
well-established company having satisfactory track. Management has failed form 66 i.e. compliance certificate for FY14,
whereas failed to file any other document with the statutory authorities. As per available, the company possesses a healthy financial profile
marked by sound networth base and comfortable capital structure characterized
by zero debt position along with a huge portfolio of liquid investments which
further support the liquidity position. Management has witnessed growth in its
sales volume, but has reported a drastic fall in its net profitability during
FY 13. However, trade relations are fair.
Business is active. Payment terms are reported as usually correct. In view of strong managerial, financial and technical linkages with its
reputed parentage, the subject can be considered for business dealings 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Sriman Narayana Murthy |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-80-67770000 |
|
Date : |
24.02.2015 |
LOCATIONS
|
Registered Office/ Factory : |
13-D, 12-D, 13C and 13-B, KIADB Industrial Area, Attibele, |
|
Tel. No.: |
91-80-27820000/22890000 |
|
Mobile No.: |
91-9845959000 (Mr. Dipak Mane) |
|
Fax No.: |
91-80-27820001/22890001 |
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E-Mail : |
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|
Website : |
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|
Area : |
4 Acres |
|
Location : |
Owned |
|
|
|
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Branch Office 1
: |
F-53-54 Triveni Commercial Complex, Sheikh Sarai Phase -
I, New Delhi -110017, India |
|
Tel. No.: |
91-11-41435601/2/3 |
|
Fax No.: |
91-11-41435604 |
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|
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Branch Office 2
: |
Kapil Complex, 1st Floor, Sr. No 82, Hissa No.1, Opposite
Prabhavee Tech Park, 1 / 4 Main Baner Mahalunge Road, Pune – 411045, India |
|
Tel. No.: |
91-20-66497777 |
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Fax No.: |
91-20-66437700 |
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Branch Office 3 : |
60/76, Haripada Dutta Lane, Tollygunge, Kolkata – 700033, West Bengal,
India |
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Sales Office : |
Located at:
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DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Andreas Schachtner |
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Designation : |
Director |
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Address : |
Ruteliweg 24, Oberburen,9245, Switzerland |
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Date of Birth/Age : |
29.07.1965 |
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Date of Appointment : |
30.05.2008 |
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DIN No.: |
02228706 |
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Name : |
Mr. Stefan Peter Scheiber |
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Designation : |
Director |
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Address : |
Bachwiesenstrasse 3, 9500 Will, |
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Date of Birth/Age : |
05.09.1965 |
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Date of Appointment : |
01.02.2006 |
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DIN No.: |
00439642 |
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|||||||||||||||||||||||||||
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Name : |
Mr. Dipak Balasaheb Mane |
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|
Designation : |
Managing Director |
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|
Address : |
# 804, B Wings Adarsh Crystal Oppfrank Anthony Public School,
Cambridge Road, Ulsoor, Bangalore – 560008, Karnataka, India |
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Date of Birth/Age : |
23.11.1960 |
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Date of Appointment : |
01.11.2000 |
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DIN No.: |
01215889 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Vinay Ramakrishna Sarji |
|
Designation : |
Secretary |
|
Address : |
No. 20/1, 1st Floor, 3rd Cross Javariah Garden,
Thagaraj Nagar, Bangalore – 560028, Karnataka, India |
|
Date of Birth/Age : |
04.01.1978 |
|
Date of Appointment : |
05.07.2006 |
|
PAN No.: |
AVAPS2841L |
MAJOR SHAREHOLDERS
As on 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Buhler Holding AG, |
|
9999990 |
|
Interfonda Limited, |
|
10 |
|
|
|
|
|
Total |
|
10000000 |
As on 26.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20309323%2025-Feb-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing, marketing and selling of
agri-based and other processing machines. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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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Auditors : |
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|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
12th and 13th Floor, UB City, Canberra Block,
No.24, Vittal Mallya Road, Bangalore – 560001, Karnataka, India |
|
Tel. No.: |
91-81-40275000 |
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Fax No.: |
91-80-22106000 |
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PAN No: |
AABFS3421N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Buhler Holding AG, Switzerland ('Buhler Holding') |
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Fellow Subsidiaries : |
CIN No.: U45400KA2008PTC066015
·
Buhler Asia Private Limited, Singapore ·
Buhler and Scherler AG, Switzerland |
CAPITAL STRUCTURE
As on 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
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 |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
1438.343 |
1189.960 |
820.035 |
|
(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) |
1538.343 |
1289.960 |
920.035 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
43.973 |
49.197 |
33.809 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.908 |
12.002 |
0.000 |
|
Total Non-current
Liabilities (3) |
50.881 |
61.199 |
33.809 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
303.254 |
190.334 |
224.479 |
|
(c) Other
current liabilities |
913.205 |
673.208 |
546.642 |
|
(d) Short-term
provisions |
83.515 |
64.413 |
75.680 |
|
Total Current
Liabilities (4) |
1299.974 |
927.955 |
846.801 |
|
|
|
|
|
|
TOTAL |
2889.198 |
2279.114 |
1800.645 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
761.199 |
688.858 |
465.404 |
|
(ii)
Intangible Assets |
0.338 |
1.149 |
1.959 |
|
(iii)
Capital work-in-progress |
49.138 |
25.531 |
20.363 |
|
(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 |
80.428 |
13.431 |
60.476 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
891.103 |
728.969 |
548.202 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
1000.064 |
589.185 |
330.016 |
|
(b)
Inventories |
312.128 |
275.464 |
291.139 |
|
(c) Trade
receivables |
218.263 |
177.525 |
153.828 |
|
(d) Cash
and cash equivalents |
113.782 |
285.731 |
265.628 |
|
(e) Short-term
loans and advances |
83.891 |
84.233 |
102.836 |
|
(f) Other
current assets |
269.967 |
138.007 |
108.996 |
|
Total
Current Assets |
1998.095 |
1550.145 |
1252.443 |
|
|
|
|
|
|
TOTAL |
2889.198 |
2279.114 |
1800.645 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2724.000 |
2135.000 |
1751.000 |
|
|
|
Other Income |
76.000 |
47.000 |
40.000 |
|
|
|
TOTAL |
2800.000 |
2182.000 |
1791.000 |
|
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
248.382 |
369.926 |
212.376 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
305.000 |
390.000 |
285.000 |
|
|
|
Commission Earnings |
299.000 |
228.000 |
145.000 |
|
|
TOTAL EARNINGS |
604.000 |
618.000 |
430.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.84 |
36.99 |
21.24 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
9.12 |
17.33 |
12.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54 |
1.67 |
1.48 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
820.035 |
1189.960 |
1438.343 |
|
Net
worth |
920.035 |
1289.960 |
1538.343 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20309323%2025-Feb-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1751.000 |
2135.000 |
2724.000 |
|
|
|
21.930 |
27.588 |
%20PRIVATE%20LIMITED%20-%20309323%2025-Feb-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1751.000 |
2135.000 |
2724.000 |
|
Profit |
212.376 |
369.926 |
248.382 |
|
|
12.13% |
17.33% |
9.12% |
%20PRIVATE%20LIMITED%20-%20309323%2025-Feb-2015_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
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 |
No |
|
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 |
OPERATIONS
The order booking during the period April 2011 to March 2012 increased
to Rs.2836.000 Millions as compared to Rs.2169.000 Millions during the previous
year.
The total revenue from operations for the year was at Rs.2724.000
Millions as compared to Rs.2135.000 Millions for the previous year. The Other
Income was at Rs.76.000 Millions as compared to Rs.47.000 Millions for the
previous year. Exports are at Rs.305.000 Millions as compared to Rs.390.000
Millions in the previous year.
Inspite of the difficult market conditions we have been able to increase
our revenue compared to the previous year.
The construction of the new building for the office block (i.e. Phoenix
- 2 Project) has been completed during the year.
They expect to grow around 10% in the current year over the previous
year. Prospects for the rest of the year are challenging.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Tooling Machinery
·
Work Shop Equipment
·
Others
·
Office Equipment’s
·
Computers
·
Furniture and Fixtures
- Vehicles
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 records 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.62.27 |
|
|
1 |
Rs.96.21 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.