MIRA INFORM REPORT

Report No. :	329569
Report Date :	29.06.2015

IDENTIFICATION DETAILS

Name :	MOHAN FABTEX LIMITED
Registered Office :	A-47, Lower Ground Floor, Hauz Khas, New Delhi-110016
Tel. No.:	91-22-40274007
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.08.2006
Com. Reg. No.:	55-152697
Capital Investment / Paid-up Capital :	Rs. 64.900 Million
CIN No.: [Company Identification No.]	U17126DL2006PLC152697
IEC No.:	0310026512
TAN No.: [Tax Deduction & Collection Account No.]	DELM13745E
PAN No.: [Permanent Account No.]	AAECM7632H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader and Importer of Steel Plates, HR Plates and Coils, Sponge Iron, DRI, Coal, MS Scrap, TMT, Billets, Pig Iron and Pipes etc.
No. of Employees :	12 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile marked by thin profitability margins along with low reserves level and leverage balance sheet profile of the company. 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	CARE
Rating	Long Term Bank Facilities=BB+
Rating Explanation	Inadequate-credit-quality and high credit risk
Date	05.03.2015
Rating Agency Name	CARE
Rating	Short Term Bank Facilities=A4+
Rating Explanation	Minimal degree of safety and very high credit risk
Date	05.03.2015

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Vishal Agarwal
Designation :	Director
Contact No.:	91-9322027007
Date :	27.06.2015

LOCATIONS

Registered Office :	A-47, Lower Ground Floor, Hauz Khas, New Delhi-110016, India
Tel. No.:	91-22-40274007
Mobile No.:	91-9322027007 (Mr. Vishal Agarwal)
Fax No.:	91-22-40274037
E-Mail :	vishal@mohanfabtex.com companylaw@sgcservices.com
Website :	www.mohanfabtex.com
Area :	9684 Sq. Ft
Location :	Owned
Corporate Office :	97, Maker Chamber III, Nariman Point, Mumbai-400021, Maharashtra, India
Tel. No.:	91-22-40274007
Fax No.:	91-22-40274037
E-Mail :	vishal@mohanfabtex.com
Godown :	Plot No. 1836 on Road, No.24, Sector K.W.C. Kalamboli Warehouse Complex, Near Foodland Company, Kalamboli, Navi Mumbai, Maharashtra, India
Tel. No.:	91-9322027007
Fax No.:	91-22-40274037
E-Mail :	vishal@mohanfabex.com
Area :	1836 Sq. Ft
Location :	Owned
Sales Office :	109 Loha Bhavan, 93 P.D’ Mello Road, Carnac Bunder, Mumbai-400009, Maharashtra, India
Tel. No.:	91-22-23480901
Fax No.:	91-22-23482123
E-Mail :	info@mohanfabtex.com
Stock Yard :	Located at : · Mumbai · Hyderabad · Chennai

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Vishal Agarwal

Designation :

Director

Address :

52, Laxmi Nivas, 87, Nepeansea Road, Mumbai, 400006, Maharashtra, India

Date of Birth/Age :

06.03.1977

Qualification :

Graduate

Experience :

15 Years

Date of Appointment :

29.08.2006

PAN No.:

AABHV9527N

DIN No.:

00168370

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	U51909DL2004PLC124931	VP EXIM LIMITED	Director	01-03-2004	01-03-2004	-	Active	NO
2	U51909DL2005PTC139021	VP EXIM GLOBAL PRIVATE LIMITED	Director	25-07-2005	25-07-2005	-	Active	NO
3	U17126DL2006PLC152697	MOHAN FABTEX LIMITED	Director	29-08-2006	29-08-2006	-	Active	NO
4	U70104DL2006PTC152694	V P Exim Projects Private Limited	Director	29-08-2006	29-08-2006	23-12-2013	Active	NO
5	U67120MH1988PTC046198	SPECTRUM CAPITAL PRIVATE LIMITED	Director	15-03-2008	15-03-2008	30-04-2009	Active	NO
6	U70200DL2012PTC242918	V P EXIM INFRACON PRIVATE LIMITED	Director	28-09-2012	28-09-2012	03-03-2014	Active	NO
7	U70109DL2006PTC152306	C S BUILDWELL PRIVATE LIMITED	Additional Director	03-07-2014	03-07-2014	15-01-2015	Active	NO

Name :

Mr. Abhishek Karnawat

Designation :

Director

Address :

Oswali Mohalla, Sabji Mandi, Madanganj -Kishangarh, Ajmer-305801, Rajasthan, India

Date of Birth/Age :

31.07.1987

Qualification :

Graduate

Experience :

5 Years

Date of Appointment :

28.09.2012

DIN No.:

05109776

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	Company/ LLP Status	Defaulting status
1	U17126DL2006PLC152697	MOHAN FABTEX LIMITED	Director	28-09-2012	01-11-2011	Active	NO

Name :

Mr. KBS Pachlangia

Designation :

Additional director

Address :

B/205, Pooja CHS Limited, Swagatam Housing Complex, Sec-B, Jesal Park Bhaindar East, Thane-401105, Maharashtra, India

Date of Birth/Age :

18.08.1947

Qualification :

B. Com

Experience :

42 Years

Date of Appointment :

07.05.2015

DIN No.:

07177911

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Vishal Agarwal	5009995
Priyanka Agarwal	1
Vishal Agarwal (HUF)	1480000
Chandratan Agarwal (HUF)	1
Chandratan Agarwal	1
Sheela Devi Agarwal	1
Manmohan Narayan Tumbe	1
Total	6490000

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 :	Trader and Importer of Steel Plates, HR Plates and Coils, Sponge Iron, DRI, Coal, MS Scrap, TMT, Billets, Pig Iron and Pipes etc.
Brand Names :	--
Agencies Held :	· Maharashtra Seamless Limited · Llodys Metals and Energy Limited · Welspum Corporation Limited
Exports :
Products :	--
Countries :	--
Imports :
Countries :	· Singapore · UK
Terms :
Selling :	Cash, Others and Credit (30 days, 60 days and 90 days)
Purchasing :	L/C, Cash and Credit (30 days, 60 days and 90 days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:

Welspum Corporation Limited

Name of the Person (Designation):

Mr. Ajay Singal (Marketing head)

Contact Number:

91-9879203549

Since how long known:

9 Year

Maximum limit dealt:

Rs. 5.000 Million Per Monthly

Experience:

Payment Behavior	Market Goodwill	Overall
Excellent	Excellent	Excellent

Remark

Mr. Ajay Singal informed that they are satisfied with payment behavior overall it is good company.

Customers :

Wholesalers, OEMs and Others (Manufacturer)

Reference:	Maharashtra Seamless Limited
Name of the Person (Designation):	Mr. P.D. Sharma
Contact Number:	91-22-24902070
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Responding

No. of Employees :

12 (Approximately)

Bankers :

Bank Name:	Indian Overseas Bank
Branch:	Narman Point Branch, Bhaktawar, Nariman point, Mumbai-400021, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	91-22-22040019
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Credit Limit= Rs. 510.000 Million Cash Credit= Rs. 110.000 Million LC= Rs. 400.000 Million
Account Operation:	Not Divulged
Remarks:	Not Responding

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	0.000	8.383
SHORT TERM BORROWINGS
Term loans from banks	434.546	273.462
Total	434.546	281.845

Banking Relations :	--
Auditors :
Name :	Sharma Goel and Company Chartered Accountants
Address :	A-47 Lower Ground Floor, Hauz Khas ,New Delhi-110016, India
Tel. No.:	91-120-4049100
E-Mail :	amar.miital@sgcservices.com
Income-tax PAN of auditor or auditor's firm :	AABFS1604B
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs. 10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6490000	Equity Shares	Rs. 10/- each	Rs. 64.900 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	64.900	64.900	64.900
(b) Reserves & Surplus	54.123	44.289	34.411
(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)	119.023	109.189	99.311
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	8.383	7.341
(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)	0.000	8.383	7.341
(4) Current Liabilities
(a) Short term borrowings	434.546	273.462	234.581
(b) Trade payables	0.000	0.013	167.390
(c) Other current liabilities	0.000	0.000	2.700
(d) Short-term provisions	9.602	4.769	5.230
Total Current Liabilities (4)	444.148	278.244	409.901
TOTAL	563.171	395.816	516.553
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	21.989	23.922	25.376
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	14.839	8.928	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2.881	2.881	0.504
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	7.186	0.050	1.505
(e) Other Non-current assets	19.040	17.487	16.106
Total Non-Current Assets	65.935	53.268	43.491
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	14.842	10.818	213.442
(c) Trade receivables	465.321	281.774	251.956
(d) Cash and cash equivalents	0.039	0.037	0.019
(e) Short-term loans and advances	17.034	49.919	7.645
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	497.236	342.548	473.062
TOTAL	563.171	395.816	516.553

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	3595.751	1971.728	1855.133
		Other Income	18.698	38.819	4.049
		TOTAL (A)	3614.449	2010.547	1859.182
Less	EXPENSES
		Cost of Materials Consumed	3544.103	1973.588	1806.874
		Purchases of Stock-in-Trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	0.000	0.000
		Employees benefits expense	1.444	1.388	1.661
		Other expenses	7.357	3.909	3.990
		TOTAL (B)	3552.904	1978.885	1812.525
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		61.545	31.662	46.657
Less	FINANCIAL EXPENSES (D)		45.202	14.470	14.538
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		16.343	17.192	32.119
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.666	2.544	1.856
	PROFIT/ LOSS BEFORE TAX (E-F) (G)		14.677	14.648	30.263
Less	TAX (H)		4.844	4.769	10.390
	PROFIT/ LOSS AFTER TAX (G-H) (I)		9.833	9.879	19.873
	Earnings Per Share (Rs.)		1.52	1.52	3.06

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

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.27	0.50	1.07
Operating Profit Margin (PBDIT/Sales)	(%)	1.71	1.61	2.52
Return on Total Assets (PBT/Total Assets}	(%)	2.69	3.81	5.86
Return on Investment (ROI) (PBT/Networth)		0.12	0.13	0.30
Debt Equity Ratio (Total Liability/Networth)		3.65	2.58	2.44
Current Ratio (Current Asset/Current Liability)		1.12	1.23	1.15

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

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	64.900	64.900	64.900
Reserves & Surplus	34.411	44.289	54.123
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	99.311	109.189	119.023
Long-term borrowings	7.341	8.383	0.000
Short term borrowings	234.581	273.462	434.546
Total borrowings	241.922	281.845	434.546
Debt/Equity ratio	2.436	2.581	3.651

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)
Sales	1855.133	1971.728	3595.751
		6.285	82.365

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1855.133	1971.728	3595.751
Profit	19.873	9.879	9.833
	1.07%	0.50%	0.27%

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	Yes
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	Yes
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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
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	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10478480	29/01/2014	510,000,000.00	INDIAN OVERSEAS BANK	NARIMAN POINT BRANCH, 'BAKHTAWAR', NARIMAN POINT, MUMBAI- 400021, MAHARASHTRA, INDIA	B96764873
2	10287125	12/10/2013 *	510,000,000.00	INDIAN OVERSEAS BANK	NARIMAN POINT BRANCH, 'BAKHTAWAR', NARIMAN POINT, MUMBAI- 400021, MAHARASHTRA, INDIA	B90399999

FIXED ASSETS:

Tangible Assets

· Land

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipment

· Other Equipment

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. 63.60
UK Pound	1	Rs. 100.09
Euro	1	Rs. 71.23

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	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		30

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.