MIRA INFORM REPORT

Report No. :	325448
Report Date :	02.06.2015

IDENTIFICATION DETAILS

Name :	YOROZU JBM AUTOMOTIVE TAMIL NADU PRIVATE LIMITED
Registered Office :	Plot No. B5 and B6, SIPCOT Industrial Park, Vangadu Village, Sriperumbudur – 602105 Taluk, Tamilnadu
Mob. No.:	91-8939949852 (Mr. Ashok Kannan)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.02.2011
Com. Reg. No.:	18-079145
Capital Investment / Paid-up Capital :	Rs. 1500.000 Million
CIN No.: [Company Identification No.]	U34201TN2011FTC079145
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CHEY03311A
PAN No.: [Permanent Account No.]	AAACY4647A
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in manufacturing of automobiles related parts.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 2000000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has incurred a huge loss from its operation during 2014. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution.

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

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) DEFAILTERS’ 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. Ashok Kannan
Designation :	Senior Account Manager
Contact No.:	91-8939949852
Date :	01.06.2015

LOCATIONS

Registered Office :	Plot No. B5 and B6, SIPCOT Industrial Park, Vangadu Village, Sriperumbudur – 602105 Taluk, Tamilnadu, India
Tel. No.:	Not Available
Mobile No.:	91-8939949852 (Mr. Ashok Kannan)
Fax No.:	Not Available
E-Mail :	sunild@yorozu.co.in

DIRECTORS

AS ON 05.08.2014

Name :

Fumihiro Kondo

Designation :

Managing Director

Address :

2668-83, Imahuku-cho, Asahi-ku, Yokohama Shi, Japan 2410816

Date of Birth/Age :

12.06.1969

Date of Appointment :

01.02.2013

DIN No.:

06602777

Name :

Akihiko Shido

Designation :

Director

Address :

5-9-12, Shimo-Sueyoshi Tsurumi-Ku, Yokohamashi, Japan 2208686

Date of Birth/Age :

30.01.1943

Date of Appointment :

16.02.2011

DIN No.:

03326342

Name :

Anand Swaroop Khandelwal

Designation :

Director

Address :

C – 5A/14, 2^nd Floor, Janakpuri, New Delhi – 110058, India

Date of Birth/Age :

26.06.1956

Date of Appointment :

10.02.2011

DIN No.:

00004816

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	U74899DL1995PLC067432	JBM INTERNATIONAL LIMITED	Director	18/04/1995	18/04/1995	-	Active	NO
2	U34300DL2003PTC123285	Neel Auto Private Limited	Director	24/03/2014	15/12/2003	-	Active	NO
3	U45201DL2003PTC120054	SATISH BUILDWELL PRIVATE LIMITED	Director	03/03/2005	03/03/2005	-	Active	NO
4	U74899DL2006PTC144712	HICOM INFRASTUCTURE PRIVATE LIMITED	Director	12/01/2006	12/01/2006	06/03/2015	Active	NO
5	U45201DL2006PTC144716	SHREEAUMJI BUILDWELL PRIVATE LIMITED	Director	12/01/2006	12/01/2006	06/03/2015	Active	NO
6	U45201DL2006PTC144715	SHREEAUMJI PROPERTIES PRIVATE LIMITED	Director	12/01/2006	12/01/2006	06/03/2015	Active	NO
7	U45201DL2006PTC144717	SHREEAUMJI BUILDERS PRIVATE LIMITED	Director	12/01/2006	12/01/2006	06/03/2015	Active	NO
8	U70109DL2006PTC149250	SHREEAUMJI BUILDTECH PRIVATE LIMITED	Director	27/05/2006	27/05/2006	06/03/2015	Active	NO
9	U70109DL2006PTC150431	COMTECH INFRASTRUCTURE PRIVATE LIMIED.	Director	30/06/2006	30/06/2006	06/03/2015	Active	NO
10	U35990DL1995PLC071596	JAYBHARAT BREED LIMITED	Director	30/09/2008	09/12/2006	-	Amalgamated	NO
11	U13203DL2007PLC164433	ANS STEEL TUBES LIMITED	Director	17/06/2013	01/11/2007	-	Active	NO
12	U29220DL2007PTC171360	JBM MA AUTOMOTIVE PRIVATE LIMITED	Director	14/05/2009	12/03/2008	-	Active	NO
13	U45200DL2008PTC178619	JBM PROJECTS & INFRASTRUCTURE PRIVATE LIMITED	Director	27/05/2008	27/05/2008	31/03/2015	Active	NO
14	U28910DL2008PLC185040	JBM MOTORS LIMITED	Director	19/11/2008	19/11/2008	31/03/2015	Active	NO
15	U34300TN1998PTC046810	JBM AUTO SYSTEM PRIVATE LIMITED	Director	04/08/2011	23/02/2009	-	Active	NO
16	U80302DL2009PTC190802	JBM CADMIUM PRIVATE LIMITED	Director	02/06/2009	02/06/2009	-	Active	NO
17	U28931DL2008PTC174381	INDO TOOLINGS PRIVATE LIMITED	Director	20/08/2009	01/07/2009	28/01/2013	Active	NO
18	U27100DL2009PLC187584	JBM OGIHARA AUTOMOTIVE INDIA LIMITED	Director	28/07/2010	21/09/2009	-	Active	NO
19	U28900DL2010PLC211731	M J CASTING LIMITED	Director	23/12/2010	23/12/2010	-	Active	NO
20	U34201TN2011FTC079145	Yorozu JBM Automotive Tamil Nadu Private Limited	Director	10/02/2011	10/02/2011	-	Active	NO
21	U74140DL2011PTC227157	JBM Corporate Services Private Limited	Director	08/11/2011	08/11/2011	-	Active	NO
22	U28111TN2006PTC099679	ARCELOR NEEL TAILORED BLANK PRIVATE LIMITED	Alternate director	19/06/2012	19/06/2012	17/06/2014	Active	NO
23	U29253HR2012PTC046397	JBM Kanemitsu Pulleys Private Limited	Alternate director	17/07/2012	17/07/2012	06/03/2014	Active	NO
24	U74140DL2007PTC158597	NEEL METAL FANALCA ENVIRONMENT MANAGEMENT PRIVATE LIMITED	Nominee director	20/12/2012	20/12/2012	-	Active	NO
25	U40300DL2013PTC249282	JBM Solar Private Limited	Director	11/03/2013	11/03/2013	-	Active	NO
26	U40106DL2013PTC250286	JBM Solar Power Private Limited	Director	04/04/2013	04/04/2013	-	Active	NO
27	U74140DL2003PTC118916	K R CHAWLA CONSULTING PRIVATE LIMITED	Additional director	26/07/2013	26/07/2013	-	Active	NO
28	U70101DL2002PTC117107	HN PROPERTIES PRIVATE LIMITED	Director	09/09/2014	26/07/2013	-	Active	NO
29	U74899DL2006PTC144713	SHREEAUMJI DEVELOPERS SEZ PRIVATE LIMITED	Additional director	31/03/2015	31/03/2015	-	Active	NO
30	U74140DL2008PTC172320	JBM ENVIRONMENT MANAGEMENT PRIVATE LIMITED	Additional director	31/03/2015	31/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ashok Kannan
Designation :	Senior Account Manager
Name :	V. Anantha Subramanian
Designation :	Secretary
Address :	3-257,VOC Street, Karapakkam, Chennai – 600097, Tamilnadu, India
PAN No.:	BAYPS0340C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 05.08.2014

Names of Shareholders	No. of Shares	% of Holdings
Yorozu Corporation, Japan	140000000	93.33
JBM Auto System Private Limited, India	10000000	6.67
Total	150000000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 05.08.2014

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	93.33
Bodies corporate	6.67
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in manufacturing of automobiles related parts.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	Sathish and Shankar Chartered Accountant
Address :	Old No. 17, New No.6, Muthalamman Koil Street, West Mambalam, Chennai – 600033, Tamilnadu, India
PAN No.:	ABXFS5342K
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 05.08.2014

Authorised Capital : Rs. 4000.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 3576.376 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
200000000	Equity Shares	Rs.10/- each	Rs. 2000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
150000000	Equity Shares	Rs.10/- each	Rs. 1500.000 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	1500.000	1500.000	1500.000
(b) Reserves & Surplus	(535.216)	(351.930)	(171.387)
(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)	964.784	1148.070	1328.613
(3) Non-Current Liabilities
(a) long-term borrowings	1974.996	1704.298	1189.922
(b) Deferred tax liabilities (Net)	0.000	0.000	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)	1974.996	1704.298	1189.922
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	178.671	214.139	513.251
(c) Other current liabilities	431.506	775.141	38.448
(d) Short-term provisions	0.000	0.000	0.364
Total Current Liabilities (4)	610.177	989.280	552.063
TOTAL	3549.957	3841.648	3070.598
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2116.679	2020.921	960.751
(ii) Intangible Assets	63.087	52.005	61.344
(iii) Capital work-in-progress	161.982	68.385	786.692
(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	0.000	0.000	0.000
(e) Other Non-current assets	15.148	15.341	0.000
Total Non-Current Assets	2356.896	2156.652	1808.787
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	59.178	59.957	122.402
(c) Trade receivables	245.158	374.777	209.030
(d) Cash and cash equivalents	437.854	552.543	759.835
(e) Short-term loans and advances	186.390	236.290	0.000
(f) Other current assets	264.481	461.429	170.544
Total Current Assets	1193.061	1684.996	1261.811
TOTAL	3549.957	3841.648	3070.598

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	1194.675	1204.424	233.237
	EXPENSES
		TOTAL	1377.437	1389.753	404.625
	PROFIT BEFORE TAX		(183.285)	(180.542)	(171.388)
	TAX		0.000	0.000	0.000
	PROFIT AFTER TAX		(183.285)	(180.542)	(171.388)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(351.930)	(171.388)	NA
	BALANCE CARRIED TO THE B/S		(535.215)	(351.930)	(171.388)
	Earnings Per Share (Rs.)		(1.22)	(1.20)	(1.14)

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

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(15.34)	(14.99)	(73.48)
Return on Total Assets (PBT/Total Assets}	(%)	(5.41)	(4.78)	(7.50)
Return on Investment (ROI) (PBT/Networth)		(0.19)	(0.16)	(0.13)
Debt Equity Ratio (Total Debt /Networth)		2.05	1.48	0.90
Current Ratio (Current Asset/Current Liability)		1.96	1.70	2.29

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	1500.000	1500.000	1500.000
Reserves & Surplus	(171.387)	(351.930)	(535.216)
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1328.613	1148.070	964.784
long-term borrowings	1189.922	1704.298	1974.996
Short term borrowings	0.000	0.000	0.000
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	1189.922	1704.298	1974.996
Debt/Equity ratio	0.896	1.484	2.047

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	233.237	1204.424	1194.675
		416.395	(0.809)

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	233.237	1204.424	1194.675
Profit	(171.388)	(180.542)	(183.285)
	(73.48%)	(14.99%)	(15.34%)

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	Ye
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	Yes
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

NOTE: Registered office of the company has been shifted from No. 5 C, East Ellaiamman Koil Street, Kottur, Chennai – 600085, Tamilnadu, India to the present address w.e.f. 23.11.2011.

UNSECURED LOAN

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Borrowing from foreign companies	1974.996	1704.298
Total	1974.996	1704.298

INDEX OF CHARGES

NO CHARGES EXIST FOR THE COMPANY.

FIXED ASSETS

· Land

· Buildings

· Plant and Equipments

· Furniture and Fixture

· Vehicles

· Office Equipments

· Computer Equipments

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. 63.61
UK Pound	1	Rs. 97.26
Euro	1	Rs. 69.63

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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		26

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.