MIRA INFORM REPORT
|
Report No. : |
324490 |
|
Report Date : |
29.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
RASENDRA CHEMEXPORT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ratna Jyot Industrial Estate, Unit No. 10 and 11, Ground Floor, Irla Gauthan,
Irla Lane, Vile Parle (West), Mumbai – 400056, Maharashtra |
|
Tel. No.: |
91-22-26708731 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
12.04.1984 |
|
|
|
|
Com. Reg. No.: |
11-032668 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1984PTC032668 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR17113F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR5050N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Distributor of Chemicals and Master of bachef |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects company moderate financial risk marked by a loss incurred
by the company during FY 2014. Further the borrowing recorded by the company are also huge which may
further act as threat to the liquidity position of the company. However, trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The company can be considered for business dealings 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.
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) 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 DENIED BY
Management non-cooperative (Tel No.:91-22-26708732) (Mobile No.:
91-9324138732)
LOCATIONS
|
Registered Office : |
Ratna Jyot Industrial Estate, Unit No. 10 and 11, Ground Floor, Irla Gauthan,
Irla Lane, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Tel. No.: |
91-22-26708731 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on : 25.09.2014
|
Name : |
Mr. Rasendra Desai |
|
Designation : |
Director |
|
Address : |
Flat No. 301, 3rd Floor,, Lalani Fairmont, 15th Road, Khar (West), Mumbai, 400052, Maharashtra, India |
|
Date of Appointment : |
16.09.1986 |
|
DIN No.: |
00057573 |
|
|
|
|
Name : |
Mr. Manoranjan Rastogi |
|
Designation : |
Director |
|
Address : |
Flat No.501, 5th Floor, A Wing, Mercury Vasant, Galaxy, Bangur Nagar, Goregaon West,, Mumbai, 400090, Maharashtra, INDIA |
|
Date of Appointment : |
08.11.2004 |
|
DIN No.: |
00057600 |
|
|
|
|
Name : |
Mr. Madan Singh Shekhawat |
|
Designation : |
Director |
|
Address : |
A/204, Sukanchan Chs, Tanki Road,, Nalasopara (East),, Nalasopara, 401203, Maharashtra, India |
|
Date of Appointment : |
01.11.2010 |
|
DIN No.: |
03318279 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 25.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Rasendra D. Desai Jt. Minal R. Desai |
|
24836 |
|
Jayshree D. Desai Jt. Minal R. Desai |
|
10 |
|
Rasendra D. Desai – HUF |
|
20 |
|
Minal R. Desai |
|
10 |
|
Jinali R. Desai |
|
100 |
|
Sarvodaya Traders Private Limited |
|
1 |
|
Manoranjan Rastogi |
|
2 |
|
H. F. Patel - HUF |
|
1 |
|
Tarak Atul Patel |
|
5 |
|
Alpa Atul Patel |
|
5 |
|
Divya Prasad Desai HUF |
|
10 |
|
Total |
|
25000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Rasendra D. Desai |
|
25000 |
Equity Share Break up (Percentage of Total Equity)
As on : 25.09.2014
|
Category |
Percentage |
|
Bodies corporate |
0.13 |
|
Directors or relatives of Directors |
99.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Distributor of Chemicals and Master of bachef |
|
|
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Vinod S. Mehta and Company Chartered Accountants |
|
Address : |
114, Jolly Bhavan – 1, New Marine Lines, Mumbai – 400020, Maharashtra,
India |
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Tel. No.: |
91-22-66333501 / 02 / 03 / 04 |
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Mobile No.: |
91- |
|
Fax No.: |
91-22-66333506 |
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E-Mail : |
|
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFV0519Q |
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|
|
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Financial Institution
: |
Citicorp Finance (India) Limited, Citi tower, 61, Dr. S.S. Rao Road,
Mumbai – 400012, Maharashtra, India |
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|
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Enterprises over
which Persons referred to in 1 or 2 above exercise Significant Influence /
Associates : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Million |
|
25000 |
Preference Shares |
Rs.100/- each |
Rs.2.500 Million |
|
|
|
|
Rs.5.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Million |
|
25000 |
Preference Shares |
Rs.100/- each |
Rs.2.500 Million |
|
|
|
|
Rs.5.000 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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
18.414 |
25.037 |
23.652 |
|
(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) |
23.414 |
30.037 |
28.652 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
38.593 |
41.719 |
29.200 |
|
(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) |
38.593 |
41.719 |
29.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
77.921 |
74.404 |
66.614 |
|
(b) Trade payables |
315.309 |
236.534 |
139.452 |
|
(c) Other current liabilities |
2.119 |
1.068 |
0.415 |
|
(d) Short-term provisions |
0.292 |
0.292 |
0.292 |
|
Total
Current Liabilities (4) |
395.641 |
312.298 |
206.773 |
|
|
|
|
|
|
TOTAL |
457.648 |
384.054 |
264.625 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
35.674 |
35.913 |
22.793 |
|
(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 |
0.030 |
0.030 |
0.030 |
|
(c) Deferred tax assets (net) |
3.277 |
0.590 |
0.257 |
|
(d) Long-term Loan and Advances |
32.999 |
26.892 |
19.378 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
71.980 |
63.425 |
42.458 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
90.883 |
74.532 |
54.060 |
|
(c) Trade receivables |
274.518 |
230.096 |
162.259 |
|
(d) Cash and cash equivalents |
17.798 |
12.328 |
4.822 |
|
(e) Short-term loans and
advances |
0.750 |
1.767 |
1.010 |
|
(f) Other current assets |
1.719 |
1.906 |
0.016 |
|
Total
Current Assets |
385.668 |
320.629 |
222.167 |
|
|
|
|
|
|
TOTAL |
457.648 |
384.054 |
264.625 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
TOTAL
INCOME |
858.618 |
680.460 |
606.609 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
867.635 |
678.794 |
610.386 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
(9.017) |
1.666 |
(3.777) |
|
|
|
|
|
|
|
Less |
TAX |
(2.686) |
(0.013) |
0.278 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(6.331) |
1.679 |
(3.499) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2.047 |
0.144 |
0.000 |
|
|
Commission |
0.286 |
11.178 |
9.791 |
|
|
TOTAL
EARNINGS |
2.333 |
11.322 |
9.791 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Trade Goods |
232.939 |
168.491 |
181.900 |
|
|
TOTAL
IMPORTS |
232.939 |
168.491 |
181.900 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(253.24) |
66.92 |
(139.96) |
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) |
(%) |
(0.74) |
0.25 |
(0.58) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.98) |
0.43 |
(1.43) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.39) |
0.06 |
(0.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.98 |
3.87 |
3.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
1.03 |
1.07 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
23.652 |
25.037 |
18.414 |
|
Net
worth |
28.652 |
30.037 |
23.414 |
|
|
|
|
|
|
long-term borrowings |
29.200 |
41.719 |
38.593 |
|
Short term borrowings |
66.614 |
74.404 |
77.921 |
|
Total
borrowings |
95.814 |
116.123 |
116.514 |
|
Debt/Equity
ratio |
3.344 |
3.866 |
4.976 |
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 |
606.609 |
680.460 |
858.618 |
|
|
|
12.174 |
26.182 |
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 |
606.609 |
680.460 |
858.618 |
|
Profit |
(3.499) |
1.673 |
(6.331) |
|
|
(0.58%) |
0.25% |
(0.74%) |
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 |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
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 Suchita Niwas, 1st Floor, 133/A, Ghorapdeo Subhash Lane, Off. Rambhau Bhogle Marg, Mumbai – 400033, Maharashtra, India to the present address w.e.f. 01.04.2011
OPERATIONS :
The company performed not well during the year remove and achieved a
total income of Rs. 858.618 Million as against Rs. 680.460 Million in previous
year. The company registered a net profit and Loss of Rs. (6.331 Million)
compared to Profit of Rs. 1.679 Million in the previous year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loan from Other parties |
0.809 |
1.829 |
|
Loans and advances from related parties |
31.975 |
28.900 |
|
Other Loans and advances |
2.200 |
2.200 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Loan repayable on demand from Other parties |
1.021 |
1.021 |
|
Total |
36.005 |
33.950 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10375013 |
28/08/2012 |
119,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
B57483760 |
|
2 |
10346501 |
07/03/2013 * |
101,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
B70547773 |
FIXED ASSETS
Tangible Assets
- Land
- Building
- Plant and
Machinery
- Equipment
- Furniture and
Fixture
- Vehicles
- Electrical
Installations
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.63.90 |
|
|
1 |
Rs.98.16 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.