MIRA INFORM REPORT
|
Report No. : |
324005 |
|
Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
JEUMONT ELECTRIC INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 615-616, 6th Floor, Bonanza, B Wing, Sahar Plaza, Andheri Kurla
Road, Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-40151264 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.11.2009 |
|
|
|
|
Com. Reg. No.: |
11-196919 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.727.343 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2009FTC196919 |
|
|
|
|
IEC No.: |
0310003857 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ14694B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ2461M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Electrical Goods, Motor and
Generator |
|
|
|
|
No. of Employees
: |
50 (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 |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “JEUMONT ELECTRIC FRANCE”. It is
established company and having moderate track record. From the financial of 2014, the company has reported decrease in its
sale turnover and incurred huge accumulated losses from its business
operations over past two years. Due to accumulated losses over the years, company’s balance sheet
position got hampered. However, rating takes into consideration company decent capital base
and strong financial as well as managerial support company received from its
holding company. Trade relations are fair. Business is active and payments are slow but
correct. In view of operational losses backed by negative reserves, company can
be considered for normal business dealings with some cautions. |
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 |
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 (GENERAL DTEIAILS)
|
Name : |
Mr. Dinesh Chandra Bhatt |
|
Designation : |
Director |
|
Contact No.: |
91-22-40151264 |
|
Date : |
26.05.2015 |
LOCATIONS
|
Registered Office : |
Unit No. 615-616, 6th Floor, Bonanza, B Wing, Sahar Plaza, Andheri
Kurla Road, Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-40151264 |
|
Fax No.: |
91-22-40151260 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
22 KM Stone, Vadodara – Halol Express Way, Next to Jarod Referral
Hospital, Jarod – 391510, India |
DIRECTORS
As on: 15.09.2014
|
Name : |
Mr. Dinesh Chandra Bhatt |
|
Designation : |
Director |
|
Address : |
Flat104, Navgrah Society, Poonam Sagar Complex, Mira Road, Thane –
401107, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1962 |
|
Date of Appointment : |
06.11.2009 |
|
PAN No.: |
AFLPB0164L |
|
DIN No.: |
02703036 |
|
|
|
|
Name : |
Mr. Ammar Brahim |
|
Designation : |
Director |
|
Address : |
07.06.1956 |
|
Date of Birth/Age : |
07 Rue DU Chateau D’EAU, Louvres, France – 95380 |
|
Date of Appointment : |
18.11.2009 |
|
DIN No.: |
02713859 |
|
|
|
|
Name : |
Mr. Simon Eugene Andre Pierre |
|
Designation : |
Director |
|
Address : |
5, RUE DE L Ecluse, Plancher Bas, France - 70290 |
|
Date of Birth/Age : |
25.10.1960 |
|
Date of Appointment : |
18.11.2009 |
|
DIN No.: |
02749091 |
|
|
|
|
Name : |
Mr. Sion Hubert Gregory |
|
Designation : |
Director |
|
Address : |
5 RUE Halevv Lille, France - 59000 |
|
Date of Birth/Age : |
19.10.1975 |
|
Date of Appointment : |
04.05.2011 |
|
DIN No.: |
03448716 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 15.09.2014
|
Names of Shareholders |
No. of Equity
Shares |
No. of Preference
Shares |
|
Dinesh Chandra Bhatt |
1 |
0 |
|
Jeumont Electric – France |
73460440 |
4922400 |
|
|
|
|
|
Total |
73460441 |
4922400 |
Equity Share Break up (Percentage of Total Equity)
As on: 15.09.2014
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.99 |
|
Directors or relatives of directors |
|
0.01 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Electrical Goods, Motor and
Generator |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Credit |
|
|
|
|
Purchasing : |
L/C / Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
Ruparel and Bavadiya Chartered Accountants |
||||||||||||||
|
Address : |
A/53, River Palace , Old Civil Court Road, Nanpura, Surat
– 395001, Gujarat, India |
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PAN No.: |
AAIFR1930J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Jeumont Electric France |
CAPITAL STRUCTURE
After 15.09.2014
Authorised Capital : Rs.850.000 Million
Issued, Subscribed & Paid-up Capital : Rs.800.428
Million
As on: 15.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80,077,600 |
Equity Shares |
Rs.10/- each |
Rs.800.776 Million |
|
4,922,400 |
Preference Shares |
Rs.10/- each |
Rs.49.224 Million |
|
|
|
|
|
|
|
Total |
|
Rs.850.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
73,460,441 |
Equity Shares |
Rs.10/- each |
Rs.734.604 Million |
|
4,922,400 |
Preference Shares |
Rs.10/- each |
Rs.49.224 Million |
|
|
|
|
|
|
|
Total |
|
Rs.783.828
Million |
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85,000,000 |
Equity Shares |
Rs.10/- each |
Rs.850.000 Million |
|
4,922,400 |
Preference Shares |
Rs.10/- each |
Rs.49.224 Million |
|
|
|
|
|
|
|
Total |
|
Rs.899.224 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
67,811,941 |
Equity Shares |
Rs.10/- each |
Rs. 678.119 Million |
|
4,922,400 |
Preference Shares |
Rs.10/- each |
Rs.49.224 Million |
|
|
|
|
|
|
|
Total |
|
Rs.727.343
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 |
727.343 |
599.620 |
273.978 |
|
(b) Reserves & Surplus |
(98.303) |
(51.967) |
(34.151) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
56.485 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
685.525 |
547.653 |
239.827 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.219 |
0.219 |
0.042 |
|
(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) |
0.219 |
0.219 |
0.042 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
25.066 |
21.996 |
35.534 |
|
(c) Other current
liabilities |
13.539 |
15.621 |
6.513 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
38.605 |
37.617 |
42.047 |
|
|
|
|
|
|
TOTAL |
724.349 |
585.489 |
281.916 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
660.705 |
60.312 |
1.970 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
3.542 |
491.215 |
240.265 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.015 |
0.015 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.003 |
0.001 |
6.909 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
664.265 |
551.543 |
249.144 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
10.502 |
0.000 |
0.000 |
|
(c) Trade receivables |
6.393 |
3.533 |
11.543 |
|
(d) Cash and cash
equivalents |
2.318 |
5.718 |
19.003 |
|
(e) Short-term loans
and advances |
40.871 |
24.695 |
2.226 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
60.084 |
33.946 |
32.772 |
|
|
|
|
|
|
TOTAL |
724.349 |
585.489 |
281.916 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
6.471 |
12.975 |
22.963 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
52.807 |
30.614 |
44.797 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(46.336) |
(17.639) |
(21.834) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.177 |
0.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER
TAX |
(46.336) |
(17.816) |
(21.841) |
|
|
|
|
|
|
|
|
|
|
Earnings (Loss)
Per Share (Rs.) |
(0.64) |
(0.30) |
(0.36) |
|
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) |
(%) |
(716.06) |
(137.31) |
(95.11) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.43) |
(18.71) |
(52.42) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
(0.03) |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
0.90 |
0.78 |
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 |
273.978 |
599.620 |
727.343 |
|
Reserves & Surplus |
(34.151) |
(51.967) |
(98.303) |
|
Share Application money pending allotment |
0.000 |
0.000 |
56.485 |
|
Net
worth |
239.827 |
547.653 |
685.525 |
|
|
|
|
|
|
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 |
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 |
22.963 |
12.975 |
6.471 |
|
|
|
(43.496) |
(50.127) |
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 |
22.963 |
12.975 |
6.471 |
|
Profit |
(21.841) |
(17.816) |
(46.336) |
|
|
(95.11%) |
(137.31%) |
(716.06%) |
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 |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: The Registered Office
of the company has been shifted from 17th Floor, Nirmal Building, Nariman
Point, Mumbai – 40002, Maharashtra, India to the present address w.e.f.
28.01.2010.
INDEX OF CHARGES NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS
- Furniture and fixtures
- Land
- Buildings
- Plant and equipment
- Vehicles
- Computer
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 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.63.95 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.