MIRA INFORM REPORT

 

 

Report No. :

328520

Report Date :

19.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SHRENUJ NV

 

 

Registered Office :

Pelikaanstraat 62 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.10.2005

 

 

Com. Reg. No.:

876762313

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employee :

4

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BELGIUM - ECONOMIC OVERVIEW

 

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the government maintained the budget deficit below the euro-zone threshold of 3% of GDP for a second year in a row. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

 

Source : CIA

Company summary

 

 Business number                    876762313

Branche Unit Number               2149603637

Company name                        SHRENUJ NV

Address                                   PELIKAANSTRAAT 62

2018 ANTWERPEN

Number of staff                        4

Date of establishment               18/10/2005

Telephone number                   032316373

Fax number                              032323236

 

 

Commentary

 

The business was established over 9 years ago.

The business has 4 employees.

The business has been at the address for over 9 years.

Pre-tax profits increased by 30% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 74% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/03/2014

252,865,288

729,417

30,876,170

31,270,494

31/03/2013

231,071,977

557,103

30,117,940

30,684,610

31/03/2012

166,669,691

306,876

18,160,590

18,713,263

 

ACCOUNTS

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/03/2014

134,286,833

4

28,669,389

771,860

31/03/2013

139,926,336

4

28,524,425

596,206

31/03/2012

75,939,562

3

17,165,916

314,508

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

60.71

Industry  average  payment

126.61

Industry  average  day  sales

185.47

expectation  days

 

outstanding

 

Day  sales  outstanding

162.27

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                -

 

NSSO DETAILS

Date of summons                     -

 

 

Company information

 

Business  number

876762313

Company  name

SHRENUJ  NV

Fax  number

032323236

Date  founded

18/10/2005

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/03/2014

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and

VAT  Number

BE.0876.762.313  Check  VAT

 

other  precious  stones

 

number

Belgian  Bullettin  of  Acts Publications

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

 

PERSONNEL  (NSSO  CLASSIFICATION)

 

Code

-

Description

-

 

JOINT  INDUSTRIAL  COMMITTEE  (JIC)

 

JIC  Code

218

Description

Additional  national  joint  committee  for  the  employees

category

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

 

SIGNIFICANT  EVENTS

 

Event  Date

30/06/2011

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaar  30-06-2011:  Herbenoemd  als  bestuurder  tot  na  de  jaarvergadering  van  2017:  Doshi

 

Apoorva  (tevens  als  gedelegeerd  bestuurder),  Shah  Jamir,  Shah  Kalpit  en  Van  Binitkumar.

 

 

Company accounts

 

ASSETS

 

 

 

 

 

 

 

 

 

 

Annual  accounts

31-03-2014

%

31-03-2013

%

31-03-2012

%

31-03-2011

%

31-03-2010

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

330,976

53.53

215,583

7.10

201,293

33.23

151,084

6.28

142,153

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

316,467

58.20

200,042

1.78

196,547

34.05

146,622

6.49

137,691

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

177,273

211

56,992

3.72

54,947

-7.70

59,532

-4.50

62,336

Furniture  &  Vehicles

139,193

-2.70

143,050

1.02

141,600

62.59

87,090

15.57

75,354

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

1

-

0

-

0

-

0

-

0

Financial  fixed  assets

14,510

-6.63

15,541

227

4,746

6.36

4,462

0

4,462

Total  current  assets

133,955,857

-4.12

139,710,753

84.47

75,738,269

11.19

68,113,637

22.65

55,533,346

Inventories

19,621,881

47.00

13,348,445

63.20

8,178,995

-49.29

16,129,116

129

7,027,303

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

19,621,881

47.00

13,348,445

63.20

8,178,995

-49.29

16,129,116

129

7,027,303

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

112,419,273

-9.49

124,210,677

85.22

67,059,665

29.83

51,649,927

7.74

47,941,145

Other  amounts  receivable

20,556

-8.52

22,470

102

11,105

-20.49

13,967

-32.40

20,660

Cash

69,714

-74.95

278,251

-39.56

460,403

56.49

294,199

-39.03

482,546

Miscellaneous  current  assets

1,824,432

-1.43

1,850,910

6486

28,101

6.33

26,428

-57.16

61,692

Total  Assets

134,286,833

-4.03

139,926,336

84.26

75,939,562

11.24

68,264,720

22.61

55,675,499

 

 

LIABILITIES

 

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

30,876,170

2.52

30,117,940

65.84

18,160,590

244

5,272,195

50.69

3,498,635

Issued  share  capital

28,669,389

0.51

28,524,425

66.17

17,165,916

273

4,594,657

47.70

3,110,867

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

2,206,781

38.49

1,593,515

60.20

994,674

46.81

677,539

74.73

387,768

Provisions  for  Liabilities  &

0

-

0

-

0

-

0

-

0

Charges

 

 

 

 

 

 

 

 

 

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

103,410,663

-5.83

109,808,396

90.05

57,778,972

-8.28

62,992,525

20.73

52,176,864

Other  long  term  loans

725,300

-7.28

782,253

3.75

753,966

-84.04

4,724,955

86.02

2,539,996

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

725,300

-7.28

782,253

3.75

753,966

-84.04

4,724,955

86.02

2,539,996

Current  portion  of  long  term

1,353

-65.42

3,913

5.67

3,703

-56.86

8,584

-0.08

8,591

debt

 

 

 

 

 

 

 

 

 

Financial  debts

61,077,480

-11.28

68,841,166

95.34

35,241,395

19.59

29,468,907

29.06

22,833,453

Trade  creditors

41,427,271

3.67

39,960,302

84.95

21,606,441

-24.52

28,624,659

8.27

26,439,268

Amounts  Payable  for  Taxes,

70,810

39.72

50,680

-31.31

73,784

-23.92

96,976

124

43,116

Remuneration  &  Social

 

 

 

 

 

 

 

 

 

Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

108,449

-36.24

170,082

70.62

99,683

45.64

68,444

-78.09

312,439

Total  current  liabilities

102,685,363

-5.82

109,026,143

91.19

57,025,006

-2.13

58,267,571

17.39

49,636,868

Total  Liabilities

134,286,833

-4.03

139,926,336

84.26

75,939,562

11.24

68,264,720

22.61

55,675,499

 

 

RATIO  ANALYSIS

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

Profit  Before  Tax

0.29

20.83

0.24

33.33

0.18

-28.00

0.25

31.58

0.19

Return  on  capital  employed

2.31

28.33

1.80

11.11

1.62

-56.80

3.75

34.89

2.78

Return  on  total  assets  employed

0.54

35.00

0.40

0

0.40

-27.27

0.55

83.33

0.30

Return  on  net  assets  employed

2.36

27.57

1.85

9.47

1.69

-76.23

7.11

48.43

4.79

Sales  /  net  working  capital

8.09

7.44

7.53

-15.49

8.91

-41.92

15.34

1.39

15.13

Stock  turnover  ratio

7.76

34.26

5.78

17.72

4.91

-54.03

10.68

35.53

7.88

Creditor  days

60.71

-5.33

64.13

33.97

47.87

-31.63

70.02

-35.97

109.36

Debtor  days

162.27

-17.29

196.20

33.60

146.86

17.67

124.81

-36.38

196.18

 

SHORT TERM STABILITY

 

Current  ratio

1.30

1.56

1.28

-3.76

1.33

13.68

1.17

4.46

1.12

Liquidity  ratio  /  acid  ratio

1.11

-4.31

1.16

-1.69

1.18

32.58

0.89

-9.18

0.98

Current  debt  ratio

3.33

-8.01

3.62

15.29

3.14

-71.58

11.05

-22.13

14.19

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

771,860

29.46

596,206

89.57

314,508

-1.00

317,701

85.93

170,875

Net  worth

30,876,170

2.52

30,117,940

65.84

18,160,590

244

5,272,195

50.69

3,498,635

 

LONG  TERM  STABILITY

 

Gearing

200.17

-13.41

231.18

16.62

198.23

-69.44

648.73

-10.58

725.48

Equity  in  percentage

22.99

6.83

21.52

-10.00

23.91

209

7.72

22.93

6.28

Total  debt  ratio

3.35

-8.22

3.65

14.78

3.18

-73.39

11.95

-19.85

14.91

Working  capital

31,270,494

1.91

30,684,610

63.97

18,713,263

90.06

9,846,066

66.98

5,896,478

 

 

PROFIT  &  LOSS

 

 

 

 

 

 

 

 

 

 

Operating  Income

253,031,711

9.42

231,248,578

38.71

166,713,369

10.36

151,064,549

68.65

89,573,144

Turnover

252,865,288

9.43

231,071,977

38.64

166,669,691

10.35

151,041,888

69.34

89,196,210

Total  operating  expenses

249,083,982

9.51

227,452,220

38.06

164,743,803

10.41

149,216,673

69.10

88,244,000

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

249,250,405

9.50

227,628,820

38.13

164,787,480

10.42

149,239,334

68.40

88,620,934

Employee  costs

168,521

15.47

145,945

6.68

136,805

17.59

116,344

82.17

63,866

Wages  and  salary

133,566

15.07

116,073

7.92

107,555

15.56

93,071

89.43

49,132

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

29,189

22.03

23,920

7.31

22,290

25.96

17,695

99

8,866

Other  employee  costs

5,766

-3.12

5,952

-14.48

6,960

24.78

5,578

-4.94

5,868

Director  remuneration

-

-

107,424

-1.97

109,585

-

-

-

72,913

Amortization  and  depreciation

45,136

12.44

40,144

-0.92

40,516

45.06

27,930

29.91

21,499

Operating  result

3,781,306

4.46

3,619,757

87.95

1,925,888

5.52

1,825,215

91.68

952,210

Total  financial  income

54,546

-2.38

55,878

67.42

33,375

209

10,767

9445

113

Total  financial  expenses

3,106,435

-0.39

3,118,532

88.73

1,652,388

13.09

1,461,126

86.20

784,689

Results  on  ordinary

729,417

30.93

557,103

81.54

306,876

-18.13

374,855

123

167,634

operations  before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

11,257

-

-

-

8,160

-

-

Extraordinary  Charges

-

-

-

-

-

-

8,108

-

-

Extraordinary  items

0

-100

11,257

-

0

-100

52

-

0

Results  for  the  Year  Before

729,417

28.34

568,360

85.21

306,876

-18.15

374,907

123

167,634

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

2,693

-78.10

12,298

-62.60

32,884

-61.37

85,136

366

18,258

Results  on  ordinary

726,724

33.39

544,805

98.84

273,992

-5.43

289,719

93.95

149,376

Net  result

726,724

30.69

556,062

102

273,992

-5.45

289,771

93.99

149,376

Profit  (Loss)  for  the  Year  to  be appropiated

726,724

30.69

556,062

102

273,992

-5.45

289,771

93.99

149,376

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-03-2014

 

Full-time  Employees

4

Part-time  Employees

-

Total  Fte  Employees

4

Number  of  hours  worked

 

Full-time  Employees

6,992

Part-time  Employees

-

Total

6,992

Personnel  Charges

 

Full-time  Employees

168,521

Part-time  Employees

-

Total

168,521

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

3

Actual  working  hours

5,548

Personnel  Charges

135,553

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

4

-

4

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

 

 

Gender  and  Education Level

 

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non university)

-

-

-

Higher  education (university)

1

-

1

 

Women

 

Full-Time

 

Part-Time

 

Total  Fte

Primary  education

2

-

2

Secondairy  education

1

-

1

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

4

-

4

Blue  collar  worker

-

-

-

Other

-

-

-

 

 

Temporary  personnel

Total

Average  number  of  temporary  staff

-

Actual  working  hours

-

Cost  of  temporary  staff

-

 

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

-

-

-

Leavers

-

-

-

 

 

Total  of  formal  continuing  vocational  training  initiatives

 

 

for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  less  formal  and  informal  continuing  vocational

 

 

training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  initial  training  initiatives  at  the  expense  of  the

 

 

employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

INDUSTRY COMPARISON

 

Activity code                46761

Activity description      Wholesale of diamonds and other precious stones

industry average credit

rating                           64.48

Industry average credit

limit                             140177.31

 

 

Payment Information

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

Amount

-

Details

-

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

60.71

Day  sales  outstanding

162.27

 

 

Industry comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

126.61

expectation  days

 

Industry  average  day  sales

185.47

outstanding

 

 

 

INDUSTRY  QUARTILE  ANALYSIS

Payment  expectations

 

Company  result

60.71

Lower

120.44

Median

74.61

Upper

45.69

 

 

DAY  SALES  OUTSTANDING

 

Company  result

162.27

Lower

102.27

Median

54.08

Upper

24.12

Shareholder Details

 

 SUMMARY

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

GROUP STRUCTURE

No group structure for this company.

 

MINORITY SHAREHOLDERS

No minority shareholders found

 

MINORITY INTERESTS

No minority interests found

 

COMPANIES THAT MATCH THIS ADDRESS

No Companies Match this address

 

 

Linked Companies

 

SUMMARY

 

Group - Number of Companies             0

Linkages - Number of Companies        0

Number of Countries                            0

 

SUMMONS

There is no data for this company

 

PROTESTED BILLS

There is no data for this company

 

BANKRUPTCY AND OTHER LEGAL EVENTS

There is no data for this company

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Name

KALPIT  SHAH

Position

Director

Start  Date

01/01/2010

Street

75 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

APOORVA  PRAKASH  DOSHI

Position

Managing  Director

Start  Date

09/10/2010

Street

12 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Position

Director

Start  Date

01/10/2006

Street

12 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Position

Legal  Representative

Start  Date

23/09/2005

Street

12 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

SHREYAS  DOSHI

Position

Legal  Representative

Start  Date

01/10/2006

Street

37 NEELAMBER  16TH  FLOOR

Post  code

400026

Country

India

Name

VISHAL  DOSHI

Position

Legal  Representative

Start  Date

23/09/2005

Street

 

Post  code

 

 

 

FORMER DIRECTOR DETAILS

 

Name

SHAILESH  CHAMPAKLAL  MEHTA

Position

Director

Start  Date

23/09/2005

End  Date

Unknown  date

Date  of  birth

09/12/1949

Street

65 GROENENBORGERLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Name

VAN  BINITKUMAR,

Position

Director

Start  Date

23/09/2011

End  Date

30/04/2014

Street

40 CHARLOTTALEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

JAMIR  SEVANTILAL  SHAH

Position

Director

Start  Date

23/09/2011

End  Date

01/10/2013

Street

40 CHARLOTTALEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

SHRENUJ  U.K.  LIMITED  VENN.  BRITS  RECHT

Position

Director

Start  Date

09/10/2010

End  Date

31/03/2011

Street

150 STRAND

Post  code

WC2E1JA

Country

United  Kingdom

 

FORMER MANDATES IN  OTHER COMPANIES

 

Name

Avnina  Gems  BVBA

Business  number

479202566

Position

Principal  Manager

Start  Date

16/11/2011

End  Date

31/03/2012

 

Business  number

479202566

Position

Legal  Representative

Start  Date

01/04/2008

End  Date

Unknown  date

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.85

UK Pound

1

Rs.100.99

Euro

1

Rs.72.46

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

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%)

 

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.