%20PRIVATE%20LIMITED%20-%20163109%2015-Dec-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
15.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ELECTROMECH
MATERIAL HANDLING SYSTEMS (INDIA) PRIVATE LIMITED |
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Registered Office : |
Gate No. 316, Plot
No. IA/IB Kasar Amboli, Industrial Zone, Taluka Mulshi, Pune – 411004,
Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
08.05.1996 |
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Com. Reg. No.: |
099346 |
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Capital
Investment / Paid-up Capital : |
Rs.50.000 Millions |
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CIN No.: [Company
Identification No.] |
U31109MH1996PTC099346 |
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IEC No.: |
3104014311 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEE01757A |
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PAN No.: [Permanent
Account No.] |
AABCE2527J |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing of
Material Handling Equipments. |
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No. of Employees : |
500 Approximately
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RATING & COMMENTS
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MIRA’s Rating : |
A (65) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 1361580 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having fine track.
Trade relations are fair. Business is active General financial position is
satisfactory. Payments are reported as usually correct and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Sunil Bajaj |
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Designation : |
Marketing Manager |
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Contact No.: |
91-9975596538 |
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Date : |
14.12.2011 |
LOCATIONS
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Registered Office / Factory / Head Office : |
Gate No. 316,
Plot No. IA/IB Kasar Amboli, Industrial Zone, Taluka Mulshi, Pune – 411004, |
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Tel. No.: |
91-20-22922222 / 66542222 |
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Fax No.: |
91-20-22923300 / 66542222 |
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E-Mail : |
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Website : |
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Area : |
10000 Sq. Fts. |
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Location : |
Owned |
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Factory 2 : |
16/3, F – 2 Block, M.I.D.C. Pimpari, Pune – 411018, Maharashtra, India
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Tel. No.: |
91-20-27473666 |
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Fax No.: |
91-20-27472278 |
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Branch Office : |
Ahmedabad Office 254, Sayam Mall, Satellite, Ahmedabad, Gujarat, India No. 26-27, Level 9, Raheja Towers, M.G. Road, Bangalore - 560 001,
Karnataka, India No. 11, 1st floor, Gemini Parsn Manere, 602, Anna Salai, Mount Road,
Chennai - 600 006, India Tele No.: 91-44-42144505 Fax No.: 91-44-42144505
802, Fairlink Centre, Off Link Road, Andheri (W), Mumbai - 400 053,
Maharashtra, India Tel 91-22-40975252 Block No.
76, Gruhalaxmi Colony, Kakaguda,
Secunderabad – 500015, Bungalow No.
19, Kolkata 16, Jogendra Gardens, Ground Floor, Bosepukar, Kolkata 700 078,
West Bengal, India Nagpur 49, New Kailash Nagar, Samta Colony, Nagpur 440 027, Maharashtra,
India Nasik 10, D. J. Housing society, Dsouza Colony, Opp. Model
Colony, College Road, Nasik, Maharashtra, India |
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Overseas Office: |
Electromech FZE, LOB 19 1002, P.O.Box 263019, Jebel Ali
Free Zone, Dubai - UAE |
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Tel No.: |
971-4-8857466 |
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Fax No.: |
971-4-8857655 |
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Email: |
DIRECTORS
AS ON 16.07.2010
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Name : |
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Designation : |
Chairman |
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Address : |
Flat No. 2,
Nishigandha Apt., Prabhat Road, CTT CTS 105/6FP No. 64/6, Pune – 411004, Maharashtra, India |
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Date of Birth/Age : |
02.11.1975 |
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Qualification : |
B.E., M.S. |
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Date of Appointment : |
09.04.1996 |
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Din No.: |
01846705 |
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Other Directorship:
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Name : |
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Designation : |
Director |
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Address : |
Flat No. 2,
Nishigandha Apt., Prabhat Road, CTT CTS 105/6FP No. 64/6, Pune – 411004, Maharashtra, India |
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Date of Birth/Age : |
12.09.1976 |
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Date of Appointment : |
01.01.2004 |
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Din No.: |
00434591 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.07.2010
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Names of Shareholders |
No. of Shares |
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Tushar Vinayak
Mehendale |
4234890 |
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Surekha Vinayak
Mehendale |
247666 |
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Awanti Tushar Mehendale |
233000 |
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Kedar Vinayak
Mehendale |
33555 |
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Tushar Vinayak
Mehendale |
85254 |
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Tushar Vinayak
Mehendale |
3030 |
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Tushar Vinayak
Mehendale |
4326 |
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Kedar Vinayak
Mehendale |
64005 |
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Kedar Vinayak
Mehendale |
3167 |
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Kedar Vinayak
Mehendale |
2773 |
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Surekha Vinayak
Mehendale |
64042 |
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Surekha Vinayak
Mehendale |
3158 |
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Surekha Vinayak
Mehendale |
21134 |
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Total |
5000000 |
AS ON 16.07.2010
EQUITY SHARES BREAK UP
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of
Material Handling Equipments. |
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Products : |
Material Handling
Equipments |
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Brand Names : |
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Terms : |
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Selling : |
L/C / Credit (90 days) |
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Purchasing : |
L/C / Credit (30 days) / 30% advance |
PRODUCTION STATUS
AS ON 31.03.2010
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Particulars |
Unit |
Actual
Production |
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Cranes |
Nos. |
519 |
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Hoists |
Nos. |
80 |
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Spares |
Nos. |
28315 |
GENERAL INFORMATION
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Customers : |
End Users
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No. of Employees : |
500 Approximately
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Bankers : |
State Bank of
India, Industrial Finance Branch, 2nd Floor, Tara Chambers, Near
Marri Mandir, Pune Mumbai Highway,
Wekdewadi, Pune – 411003, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chartered
Accountant |
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Address : |
120, |
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Tel. No.: |
91-20-24459390 |
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Associates / Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- Each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- Each |
Rs.50.000 Millions |
Of the above:
4936828 shares are allotted as fully paid up by
way of bonus shares. During the year 800000 no. of preferences shares were
converted into 3172 equity shares @ premium of Rs. 2522 /- per share.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
50.000 |
50.000 |
8.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
290.395 |
202.301 |
152.177 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
340.395 |
252.301 |
160.777 |
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LOAN FUNDS |
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1] Secured Loans |
593.318 |
486.949 |
231.094 |
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2] Unsecured Loans |
21.223 |
10.912 |
1.540 |
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TOTAL BORROWING |
614.541 |
497.861 |
232.634 |
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DEFERRED TAX LIABILITIES |
14.462 |
9.179 |
4.646 |
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TOTAL |
969.398 |
759.341 |
398.057 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
371.034 |
255.722 |
93.839 |
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Capital work-in-progress |
5.337 |
7.045 |
101.180 |
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INVESTMENT |
16.581 |
0.406 |
0.406 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
358.175
|
323.436
|
181.278 |
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Sundry Debtors |
543.260
|
332.316
|
225.992 |
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Cash & Bank Balances |
40.400
|
18.544
|
21.876 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
171.175
|
120.468
|
102.764 |
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Total
Current Assets |
1113.010
|
794.764
|
531.910 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
210.311
|
79.968
|
93.479 |
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Current Liabilities |
268.259
|
218.727
|
235.915 |
|
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Provisions |
58.076
|
0.000
|
0.000 |
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Total
Current Liabilities |
536.646
|
298.695
|
329.394 |
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Net Current Assets |
576.364
|
496.069
|
202.516 |
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MISCELLANEOUS EXPENSES |
0.082 |
0.099 |
0.116 |
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TOTAL |
969.398 |
759.341 |
398.057 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Sales and Other Income |
1393.924 |
1376.474 |
717.900 |
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TOTAL (A) |
1393.924 |
1376.474 |
717.900 |
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Less |
EXPENSES |
|
|
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Cost of Materials |
811.281 |
864.576 |
|
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|
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Manufacturing Expenses |
97.655 |
99.701 |
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Selling and Distribution Expenses |
87.858 |
63.578 |
596.704 |
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Office Expenses |
109.175 |
77.785 |
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|
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Administrative Expenses |
60.624 |
37.552 |
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|
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Miscellaneous Expenses written off |
0.016 |
0.016 |
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TOTAL (B) |
1166.609 |
1143.208 |
596.704 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
227.315 |
233.266 |
NA |
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|
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Less |
FINANCIAL
EXPENSES (D) |
61.898 |
57.579 |
NA |
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
165.417 |
175.687 |
121.196 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.846 |
6.516 |
3.304 |
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PROFIT BEFORE
TAX (E-F) (G) |
155.571 |
169.171 |
117.892 |
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Less |
TAX (H) |
52.901 |
60.098 |
43.113 |
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PROFIT AFTER TAX
(G-H) (I) |
102.670 |
109.073 |
74.779 |
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PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
125.833 |
94.677 |
NA |
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APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
11.000 |
NA |
|
|
|
Tax on Dividend |
2.076 |
2.549 |
NA |
|
|
|
Proposed Equity Dividend |
12.500 |
7.500 |
NA |
|
|
|
Interim Dividend |
0.000 |
7.500 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
203.927 |
125.833 |
NA |
|
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|
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|
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Earnings Per Share
(Rs.) |
20.53 |
21.82 |
14.81 |
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%20PRIVATE%20LIMITED%20-%20163109%2015-Dec-2011_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.36 |
8.03 |
10.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.16 |
12.29 |
16.42 |
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|
Return on Total
Assets (PBT/Total
Assets} |
(%) |
10.48 |
16.10 |
18.84 |
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Return on
Investment (ROI) (PBT/Networth) |
|
0.45 |
0.67 |
0.73 |
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|
Debt Equity Ratio (Total
Liability/Networth) |
|
3.42 |
3.16 |
3.50 |
|
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|
|
|
|
|
Current Ratio (Current
Asset/Current Liability) |
|
2.07 |
2.66 |
1.61 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
|
Particulars |
31.03.2010 Rs.
in Millions |
31.03.2009 Rs.
in Millions |
31.03.2008 Rs.
in Millions |
|
Sundry creditors |
210.311
|
79.968
|
93.479 |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
-- |
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18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
NOTE:
The Registered
Address of the company has been shifted from Pralhad Arcade, Plot No. 73/2/1, Bhakti Nagar, Off Law College Road,
Erndawana, Pune – 411004,
NOTE:
During the
year, the Board had with the consent of Preferences Shareholders converted
Preferences Shares into Equity Shares. Further, Members will appreciate that
the Board had declared a very liberal bonus issue for the Equity Shareholders
of the Company. The Equity Shares Capital after Bonus Shares has increased to
Rs. 50.000 Millions.
FORM 8:
|
Corporate
identity number of the company |
U31109MH1996PTC099346 |
|
Name of the
company |
ELECTROMECH MATERIALS
HANDLING SYSTEMS (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 1, Gate No. 316, At P Kasar Amboli, Tal Mulshi, District Pune
– 412111, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of
India, Industrial Finance Branch, 2nd Floor, Tara Chambers, Near
Marri Mandir, Pune Mumbai Highway, Wekdewadi,
Pune – 411003, Maharashtra, India Email: aroradinesh10@gmail.com |
|
Nature of
instrument creating charge |
Memorandum for
recording Extention of Mortgage by Deposit of Title Deeds covering Enhanced
limits and/or creation of Equitable Mortgage on additional properties for
exiting limits and enhanced limits and additional facilities extended by the
Bank to the Borrower Company. |
|
Date of
instrument Creating the charge |
03.03.2010 |
|
Amount secured by
the charge |
Rs. 1305.300
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per Sanction
letter under reference IFB/CREDIT/328 Dated 09/12/2009 duly acknowledged by
the Company for the enhanced limits through its Directors who agreed to abide
all the Terms and Conditions. Terms of repayment As per Sanction
letter under reference IFB/CREDIT/328 Dated 09/12/2009 duly acknowledged by
the Company for the enhanced limits through its Directors who agreed to abide
all the Terms and Conditions. Margin As per Sanction
letter under reference IFB/CREDIT/328 Dated 09/12/2009 duly acknowledged by
the Company for the enhanced limits through its Directors who agreed to abide
all the Terms and Conditions. Extent and operation of the charge State Bank of
India IFB Branch Pune, will have first and exclusive charge on all the
properties as mentioned and geographicated in the relative Schedule of the
Mortgage Deed, duly executed to create additional security as a shield to
cover the enhanced limits extended by the Bank to the Borrower Company. The
Charge will be in continuous operational mode till the repayment of entire
loan including the interest thereon. Other The Company, by
virtue of the Board Resolution passed on 03/12/2009, has given assent to all
the Terms and Conditions, Covenants, as provided in the Bank's Sanction
Letter IFB:/CREDIT/328 Dated 09/12/2009 and executed the related loan
document(s)/ Agreement(s) through the
Director(s),who have received
and singed the documents in physical form and who have been authorized
to file eform-8 for modifications in
the existing charge, on agreed terms. |
|
Short particulars
of the property charged (Including location of the property) |
Property at
S.No.316/1-Kasaramboli covered under Schedule-A All that piece and parcel of
Vacant Land totally adm 10 Hec.40Aars bearing Gat No.316/1at Village
Kasaramboli Tal. Mulshi District Pune. Property covered
under the Mortgage Deed. The status duly geographicated. Property covered
under the Mortgage Deed. The status duly geographicated. Property covered
under the Mortgage Deed. The status duly geographicated. Properties as
denoted under Schedule of Properties: 315 covered under the status duly
geographicated. Property at
Chennai Covered under and. The status duly geographicated. All the
properties covered under relative schedules are part and parcel of the
Memorandum of Title Deeds which have been deposited with the Bank as Security
for the Credit Limits. |
|
Date of
instrument modifying the charge |
04.01.2010 |
|
Particulars of
the present modification |
By this
modification, the Company has given additional Security of the properties, by
way of Deposit of Memorandum of Title Deeds, favouring SBI IFB Branch Pune to
secure the Credit Facilities extended by the Bank to the tune of Rs.1305.300
millions. |
FIXED ASSETS:
- Electrical Installation
- Land
- Building
- Furniture and Fixture
- Plant and Machinery
- Office Equipment
- Vehicle
- Computer
TRADE REFERENCES:
- SCC
- Gaman
- Larsen and
Toubro
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 records 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 records 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.53.57 |
|
|
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.69.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
TOTAL |
|
65 |
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.