MIRA INFORM REPORT

Report No. :	299427
Report Date :	27.01.2015

IDENTIFICATION DETAILS

Name :	HYDERABAD PIGMENTS PRIVATE LIMITED (w.e.f. 17.11.2008)
Formerly Known As :	SIMPLEX ISPAT PRIVATE LIMITED
Registered Office :	9-1-108/1, S. D. Road, Tatachary Compound, 2nd Floor, Secunderabad – 500026, Telangana
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.03.2007
Com. Reg. No.:	36-070042
Capital Investment / Paid-up Capital :	Rs.8.998 Millions
CIN No.: [Company Identification No.]	U27100TG2007PTC070042
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Lead Alloys and Oxides.
No. of Employees :	36 (Approximately) (In Office 05 + In Factory 31)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 26000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Thea rating takes into consideration company’s improved operational performance marked by sound financial base and profit achieved from operation during 2014. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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

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 PARTED BY

Name :	Madam Archana Agarwal
Designation :	Business Development Manager
Contact No.:	91-9741653377
Date :	17.01.2015

LOCATIONS

Registered Office / Corporate Office :	9-1-108/1, S. D. Road, Tatachary Compound, 2nd Floor, Secunderabad – 500026, Telangana, India
Tel. No.:	91-40-66202958
Mobile No.:	91-9741653377 (Madam Archana Agarwal)
Fax No.:	91-40-66202958
E-Mail :	ravemittal@gmail.com
Website :	http://www.hppl.in
Location :	Rented
Factory :	Plot No. 24 B, Kothur Industrial Area, Kothur, Mahboobnagar, Telangana - 500003, India
Location :	Owned

DIRECTORS

As on 30.09.2014

Name :

Mr. Rakesh Mittal

Designation :

Director

Address :

Road No. 6, Plot No. 4, Ground Floor, Punjabi Bagh Extention, New Delhi - 110026, India

Date of Birth/Age :

04.11.1974

Date of Appointment :

09.02.2009

DIN No.:

01720340

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27204TG1999PTC030852	LABELLE BODY CARE PRIVATE LIMITED	Director	21/12/2000	21/12/2000	-	Active	NO
2	U31104WB2002PTC095052	ASSOCIATED BATTERY PRODUCTS PRIVATE LIMITED	Director	26/08/2002	26/08/2002	-	Active	NO
3	U74999TG2007PTC055721	MITTAL BATTERIES PRIVATE LIMITED	Director	28/09/2007	28/09/2007	-	Active	NO
4	U45201DL2005PTC136147	ICON BUILD TECH PRIVATE LIMITED	Director	01/10/2007	01/10/2007	-	Strike off	NO
5	U70200DL2008PTC173887	ASSOCIATED INFRACON PRIVATE LIMITED	Director	11/02/2008	11/02/2008	-	Active	NO
6	U51101DL2008PTC174062	MATRIX PROMOTERS PRIVATE LIMITED	Director	14/02/2008	14/02/2008	-	Active	NO
7	U51109DL2008PTC175463	AADI SHAKTI TRADING COMPANY PRIVATE LIMITED	Director	17/03/2008	17/03/2008	-	Active	NO
8	U28994DL2004PTC127663	PALM FAUCETS PRIVATE LIMITED	Director	10/05/2008	10/05/2008	-	Active	NO
9	U27100TG2007PTC070042	HYDERABAD PIGMENTS PRIVATE LIMITED	Director	09/02/2009	09/02/2009	-	Active	NO
10	U51109WB2007PTC113283	ABHIRUCHI MARKETING PRIVATE LIMITED	Director	30/05/2009	30/05/2009	-	Active	NO
11	U36100DL2009PTC190285	GLOBAL EWIN WINDOOR PRIVATE LIMITED	Director	01/08/2009	01/08/2009	15/02/2014	Active	NO
12	U51109WB2007PTC113347	DINKAR TRACON PRIVATE LIMITED	Director	20/08/2009	20/08/2009	-	Active	NO
13	U51109WB2007PTC113338	AAKANSHA DEALER PRIVATE LIMITED	Director	01/09/2010	01/09/2010	-	Active	NO
14	U25200DL2010PTC211059	Associated Electrochemicals Private Limited	Director	03/12/2010	03/12/2010	-	Active	NO
15	U51109WB2007PTC113330	PHALGUNI MERCHANTS PRIVATE LIMITED	Director	01/03/2011	01/03/2011	-	Active	NO
16	U74899DL1995PTC064195	ELECTRO MAGNETICS INDIA PRIVATE LIMITED	Additional director	19/09/2011	19/09/2011	-	Active	NO
17	U65900DL2013PTC259366	SRGM FINANCE PRIVATE LIMITED	Director	21/10/2013	21/10/2013	-	Active	NO

Name :

Mr. Ravi Mittal

Designation :

Director

Address :

505, IInd Block, DV House, DV Colony, Near Minister Road, Secunderabad - 500025, Andhra Pradesh, India

Date of Birth/Age :

09.09.1986

Date of Appointment :

16.10.2008

DIN No.:

01720433

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999TG2007PTC055721	MITTAL BATTERIES PRIVATE LIMITED	Director	28/09/2007	28/09/2007	-	Active	NO
2	U27204TG1999PTC030852	LABELLE BODY CARE PRIVATE LIMITED	Director	16/02/2008	16/02/2008	-	Active	NO
3	U27100TG2007PTC070042	HYDERABAD PIGMENTS PRIVATE LIMITED	Director	16/10/2008	16/10/2008	-	Active	NO

Name :

Mr. Deepak Mittal

Designation :

Director

Address :

505, 2nd Block, D.V. House, D.V. Colony, Near Minister Road, Secunderabad - 500003, Andhra Pradesh, India

Date of Birth/Age :

22.01.1963

Date of Appointment :

29.03.2010

DIN No.:

01921435

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27204TG1999PTC030852	LABELLE BODY CARE PRIVATE LIMITED	Director	21/12/2000	21/12/2000	-	Active	NO
2	U27100TG2007PTC070042	HYDERABAD PIGMENTS PRIVATE LIMITED	Director	29/03/2010	29/03/2010	-	Active	NO

KEY EXECUTIVES

Name :	Madam Archana Agarwal
Designation :	Business Development Manager

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Deepak Mittal	82500
Ravi Mittal	83500
Rakesh Mittal	27500
ARS Financial Services Consultants Private Limited	137500
Dynamic Infrastructure Private Limited	100000
Excel Financial Consultants Private Limited	118750
Ziecon Infracon Private Limited	93750
Amtek Financials Consultants Private Limited	131250
Jagmohan Vanijya Private Limited	87500
Consolidated Infracon Private Limited	37500
Total	899750

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	78.00
Directors or relatives of Directors	22.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Lead Alloys and Oxides.
Products :	Lead Alloys and Oxides
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Lead Alloys and Oxides
Countries :	USA Malaysia Asian Countries Singapore Thailand
Imports :
Products :	Lead Alloys and Oxides
Countries :	China Russia
Terms :
Selling :	Cash and Credit (30 Days)
Purchasing :	Cash and Credit (30 Days)

PRODUCTION STATUS

Products	Quantity	Installed Capacity	Actual Production
Lead Alloys and Oxides	MT	57000	56000
Grey Oxide	MT	4320	4000
Red Lead	MT	4320	4000
Litharge	MT	3600	3300

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

36 (Approximately) (In Office 05 + In Factory 31)

Bankers :

Banker Name	Yes Bank
Branch Address	S.R Road, Secunderabad, Telangana, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Rs.10.000 Millions
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

Facilities :

--

Auditors :
Name :	PPKG and Company Chartered Accountants
Address :	4-1-371, 3rd Floor, Kundas Estate, Near Hotel Jaya International, ABIDS, Hyderabad – 500001, Telangana, India
PAN No.:	AAFFP7397E
Memberships :	--
Collaborators :	--
Associates :	Nathuram and Sons Associate Traders NRS Enterprises

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
899750	Equity Shares	Rs.10/- each	Rs.8.998 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	8.998	8.998	8.998
(b) Reserves & Surplus	66.521	64.064	68.008
(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)	75.519	73.062	77.006
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.404
(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)	0.000	0.000	0.404
(4) Current Liabilities
(a) Short term borrowings	7.889	8.948	12.167
(b) Trade payables	2.147	7.179	14.952
(c) Other current liabilities	1.664	1.519	2.291
(d) Short-term provisions	0.352	0.003	0.578
Total Current Liabilities (4)	12.052	17.649	29.988
TOTAL	87.571	90.711	107.398
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	19.333	17.499	18.000
(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)	0.192	1.354	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	2.950	12.000	0.000
Total Non-Current Assets	22.475	30.853	18.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	10.737	27.533	15.411
(c) Trade receivables	25.621	10.361	52.295
(d) Cash and cash equivalents	11.413	12.842	12.669
(e) Short-term loans and advances	8.757	5.820	9.023
(f) Other current assets	8.568	3.302	0.000
Total Current Assets	65.096	59.858	89.398
TOTAL	87.571	90.711	107.398

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	200.009	140.731	340.776
		Other Income	5.048	5.339	2.153
		TOTAL (A)	205.057	146.070	342.929
Less	EXPENSES
		Cost of Materials Consumed	46.151	120.174	317.723
		Purchase of Stock-in-trade	120.416	0.000	0.000
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	0.000	0.000	0.000
		Employee Benefits Expenses	0.917	0.938	1.625
		Other Expenses	31.208	27.884	19.011
		Exceptional Items	0.000	0.030	0.000
		TOTAL (B)	198.692	149.026	338.359
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.365	(2.956)	4.570
Less	FINANCIAL EXPENSES (D)		0.859	0.801	0.710
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.506	(3.757)	3.860
Less	DEPRECIATION/ AMORTISATION (F)		1.862	1.946	1.521
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		3.644	(5.673)	2.339
Less	TAX (H)		1.186	1.758	0.589
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		2.458	(3.944)	1.750
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(1.889)	2.055	0.305
	BALANCE CARRIED TO THE B/S		0.568	(1.889)	2.055
	Earnings / (Loss) Per Share (Rs.)		2.73	0.00	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.23	(2.80)	0.51
Operating Profit Margin (PBDIT/Sales)	(%)	3.18	(2.10)	1.34
Return on Total Assets (PBT/Total Assets}	(%)	4.17	(6.38)	2.18
Return on Investment (ROI) (PBT/Networth)		0.05	(0.08)	0.03
Debt Equity Ratio (Total Debt /Networth)		0.10	0.12	0.16
Current Ratio (Current Asset/Current Liability)		5.40	3.39	2.98

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	8.998	8.998	8.998
Reserves & Surplus	68.008	64.064	66.521
Share Application money pending allotment	0.000	0.000	0.000
Net worth	77.006	73.062	75.519
Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	12.167	8.948	7.889
Total borrowings	12.167	8.948	7.889
Debt/Equity ratio	0.158	0.122	0.104

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	340.776	140.731	200.009
		(58.703)	42.121

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	340.776	140.731	200.009
Profit	1.750	(3.944)	2.458
	0.51%	(2.80%)	1.23%

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	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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

GENERAL REVIEW

The company's performance was satisfactory and excellent during the year. The company has achieved its turnover as well its target of Net Profit. The Directors are hopeful that the company shall be able to perform and achieve its target of Net Profit in the year to come also. The future of the company seems to be bright.

NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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 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.61.69
UK Pound	1	Rs.93.33
Euro	1	Rs.71.49

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.