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1. Summary Information
|
|
|
Country |
|
|
Company Name |
AVERY DENNISON ( |
Principal Name 1 |
Karyn Elizabeth
Rodriguez |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Vikas Arora |
|
|
|
Registration # |
55-074475 |
|
Street Address |
A-38, Kailash Colony, |
||
|
Established Date |
08.12.1995 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Self Adhesive
Paper |
|
|
# of employees |
415 (Approximately) |
Product Name 2 |
Self Adhesive
Film |
|
Paid up capital |
Rs.216,914,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100% |
Banking |
American Express Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
16 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company : |
|
Avery
Dennison Corporation |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1801,241,000 |
Current Liabilities |
1,439,126,000 |
|
Inventories |
443,930,000 |
Long-term Liabilities |
1,011,106,000 |
|
Fixed Assets |
1,162,621,000 |
Other Liabilities |
0 |
|
Deferred Assets |
25,641,000 |
Total Liabilities |
2,450,232,000 |
|
Invest& other Assets |
45,464,000 |
Retained Earnings |
0 |
|
|
|
Net Worth |
1,028,665,000 |
|
Total Assets |
3,478,897,000 |
Total Liab. & Equity |
3,478,897,000 |
|
Total Assets (Previous Year) |
2,067,356,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
AVERY DENNISON ( |
|
|
|
|
Registered
Office : |
A-38, Kailash
Colony, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
08.12.1995 |
|
|
|
|
Com. Reg. No.: |
55-074475 |
|
|
|
|
Paid-up Capital : |
Rs.216.914
millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U74899DL1995PTC074475 |
|
|
|
|
TAN No.: [Tax Deduction & Collection Account No.] |
DELA05957A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA6163D |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of
Business : |
Manufacturer and
Exporter of Self Adhesive Paper and Self Adhesive Film. |
|
|
|
|
No. of Employees : |
415
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4115000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track. Trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be
considered normal for business dealings at usual trade terms and conditions. Profit and loss
account of the company for the year 2009-10 and 2008-09 is not available. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office : |
A-38, Kailash
Colony, |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
204-206, Tolstoy
House, 15 Tolstoy Marg, |
|
Tel. No.: |
91-11-23714408/
10 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2350 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Corporate
Office : |
Paras Complex,
Near Palaspa Phata, Mumbai – Goa Road, Village Kolhke Taluka Panvel, District
Raigad 410 218, Maharashtra, India |
|
Tel No.: |
91-22-7901815 |
|
Fax No.: |
91-22-7901817 |
|
|
|
|
Factory 1: |
Narsinghpur Industrial
Area, 6 K. M. Delhi-Jaipur highway, Gurgaon – 122 001, |
|
Tel. No.: |
91-124-2215581/
582/ 583 |
|
Fax No.: |
91-124-2215591/
592 |
|
E-Mail : |
|
|
Area : |
6 Acres |
|
Location : |
Industrial |
|
|
|
|
Factory 2: |
E-514, Greater
Kailash II, |
|
Tel. No.: |
91-11-41639393 |
|
E-Mail : |
|
|
|
|
|
Factory 3: |
90-91, 7th Main.3rd Phase, Peenya Industrial
Area, |
|
Tel. No.: |
91-80-51370400 |
|
Fax No.: |
91-80-51370600 |
|
|
|
|
Factory 4 : |
Plot no. 6B, 1st |
|
Tel. No.: |
91-80-67744471 |
|
Fax No.: |
91-80-41370600 |
DIRECTORS
As on 30.11.2010
|
Name : |
Azima Moiz |
|
Designation : |
Director |
|
Address : |
86, |
|
Date of Birth/
Age : |
07.06.1969 |
|
Date of
Appointment: |
15.07.2010 |
|
DIN No.: |
01437448 |
|
|
|
|
Name : |
Karyn Elizabeth
Rodriguez |
|
Designation : |
Director |
|
Address : |
750, |
|
Date of Birth/
Age : |
31.08.1959 |
|
Date of
Appointment: |
21.06.2001 |
|
DIN No.: |
02265694 |
|
|
|
|
Name : |
Manicknamparambil
Roy Joseph |
|
Designation : |
Whole Time
Director |
|
Address : |
01 A202, Mantri
Apartments, Malleswatam Bangal, |
|
Date of Birth/
Age : |
11.10.1969 |
|
Date of
Appointment: |
10.02.2011 |
|
DIN No.: |
02984456 |
|
|
|
|
Name : |
Mr. Vikas Arora |
|
Designation : |
Director |
|
Address : |
1410 N, Curson
Ave, APT 205, Los Angeles California, 900467806, United States of America |
|
Date of Birth/
Age : |
14.10.1973 |
|
Date of
Appointment: |
15.10.2010 |
|
DIN No.: |
03161483 |
|
|
|
|
Name : |
Mr. Anil Kumar
Sharma |
|
Designation : |
Whole Time
Director |
|
Address : |
MF 11, Eldeco
Mansionz, RWA, |
|
Date of Birth/
Age : |
06.10.1969 |
|
Date of
Appointment: |
10.02.2011 |
|
DIN No.: |
03161485 |
|
|
|
|
Name : |
Mr. Rajagopal
Srinivasan |
|
Designation : |
Director |
|
Address : |
C-6-7/ 6496,
Vasant Kunj, |
|
Date of Birth/
Age : |
02.09.1959 |
|
Date of
Appointment : |
06.05.1996 |
|
Date of
Ceasing : |
08.09.2010 |
|
DIN No.: |
01449719 |
|
|
|
|
Name : |
Mr. Richard Parks
Randall |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/
Age : |
15.11.1947 |
|
Date of
Appointment : |
29.09.1997 |
|
Date of
Ceasing : |
30.06.2010 |
|
DIN No.: |
02265705 |
|
|
|
|
Name : |
Mr. Sanjiv
Khullar |
|
Designation : |
Director |
|
Address : |
H 2 E184, |
|
Date of Birth/
Age : |
07.12.1959 |
|
Date of
Appointment : |
28.07.2007 |
|
Date of
Ceasing : |
15.01.2010 |
|
DIN No.: |
01383290 |
KEY EXECUTIVES
|
Name : |
Komandur
Sanathana Krishnan Muralie |
|
Designation : |
Secretary |
|
Address : |
D/3, 3072, Vasant
Kunj, |
|
Date of
Birth/Age : |
20.05.1966 |
|
Date of
Appointment : |
03.03.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.11.2010
|
Names
of Shareholders |
No. of Shares |
|
Avery Dennison
Corporation, |
21474466 |
|
Avery Pacific
LLC, |
216949 |
|
Avery Dennison
Central |
10400000 |
|
|
10400000 |
|
RVL Packaging Far
East Limited, |
5159245 |
|
Total |
47650660 |
As on 30.11.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturer and
Exporter of Self Adhesive Paper and Self Adhesive Film. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Agencies Held
: |
· Avery Dennison Corporation, ·
Avery Pacific Corporation, |
PRODUCTION STATUS
|
Particulars |
|
Unit
|
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Self Adhesive
Paper and Film |
|
Sq. Mtrs. |
30,000,000 |
30,000,000 |
|
Self Adhesive
Papers |
|
|
-- |
171,821,904 |
|
Self Adhesive Tapes |
|
|
-- |
1,667,895 |
GENERAL INFORMATION
|
Customers : |
· Wholesalers ·
End Users |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of
Employees : |
415
(Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· American Express Bank Limited · Deutsche Bank, Tolstoy House, |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Note: The overdraft
facility is covered by the corporate guarantee given by Avery Dennison
Corporation, |
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
Lovelock and
Lewes Chartered
Accountants |
|
Address : |
Building 8, 7th
and 8th Floor, Tower B, |
|
Tel. No.: |
91-11-26864390/26523750 |
|
Fax No.: |
91-11-26864391 |
|
|
|
|
Holding
Company : |
Avery Dennison
Corporation, |
CAPITAL STRUCTURE
As on 30.11.2010
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
47650660 |
Equity Shares |
Rs.10/- each |
Rs.476.507
millions |
|
|
|
|
|
Issued,
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
47650660 |
Equity Shares |
Rs.10/- each |
Rs.476.507
millions |
|
|
|
|
|
As on 31.03.2010
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
47650660 |
Equity Shares |
Rs.10/- each |
Rs.476.507
millions |
|
|
|
|
|
Issued,
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
21691380 |
Equity Shares |
Rs.10/- each |
Rs.216.914
millions |
|
|
|
|
|
NOTE:
Out of the above, Avery Dennison Corporation,
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
216.914 |
216.914 |
216.914 |
|
|
2] Share Capital Suspense Account |
259.593 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
552.158 |
149.180 |
308.569 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1028.665 |
366.094 |
525.483 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1011.106 |
989.073 |
760.471 |
|
|
TOTAL BORROWING |
1011.106 |
989.073 |
760.471 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2039.771 |
1355.167 |
1285.954 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1162.621 |
675.287 |
523.841 |
|
|
Capital work-in-progress |
45.464 |
15.322 |
129.040 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
25.641 |
46.467 |
21.362 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
443.930
|
344.068
|
270.495 |
|
|
Sundry Debtors |
1247.388
|
658.182
|
602.114 |
|
|
Cash & Bank Balances |
230.382
|
24.607
|
2.459 |
|
|
Other Current Assets |
0.000
|
0.298
|
0.000 |
|
|
Loans & Advances |
323.471
|
303.125
|
194.082 |
|
Total
Current Assets |
2245.171
|
1330.280
|
1069.150 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1239.113
|
641.080 |
408.139 |
|
|
Other Current Liabilities |
162.308 |
63.866 |
44.219 |
|
|
Provisions |
37.705 |
7.243 |
5.081 |
|
Total
Current Liabilities |
1439.126 |
712.189 |
457.439 |
|
|
Net Current Assets |
806.045 |
618.091 |
611.711 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2039.771 |
1355.167 |
1285.954 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1905.150 |
|
|
|
Other Income |
|
|
14.468 |
|
|
|
TOTAL (A) |
|
|
1919.618 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
|
1262.925 |
|
|
|
Personnel Expenses |
|
|
127.045 |
|
|
|
Operating Expenses |
|
|
287.501 |
|
|
|
TOTAL (B) |
|
|
1677.471 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
242.147 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
61.774 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
180.373 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
55.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
125.052 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
44.699 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
80.353 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
219.133 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
299.486 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
3.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA |
NA |
4.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
6.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
7.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.38
|
4.65 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56
|
1.87 |
2.34 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered Office of the company has been shifted from Block B-1, Plot No.F-2, Mohan Cooperative
Industrial Estate, Mathura Road, Delhi – 110 044 to the present
address w.e.f. 04.01.2010.
OPERATIONS:
The State of the Company affairs at as March 31, 2010 is as set out in
the Balance Sheet.
FIXED ASSETS:
·
·
Leasehold Freehold
·
Buildings
·
Leasehold Improvement
·
Office Equipment
·
Computers
·
Furniture and Fittings
·
Machinery and Equipment – Owned
·
Machinery and Equipment – Leased
·
Vehicles
·
Software
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.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
50 |
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.