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MIRA
INFORM REPORT
|
Report Date : |
22.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
MACO CORPORATION (INDIA) PRIVATE LIMITED |
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Registered
Office : |
2/5, |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
11.04.2002 |
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Com. Reg. No.: |
21-094503 |
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Capital
Investment / Paid-up Capital : |
Rs. 25.892 millions |
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CIN No.: [Company Identification
No.] |
U99999WB2002PTC094503 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALM04075B |
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PAN No.: [Permanent Account No.] |
AACCM8740L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Industrial Equipments Machineries. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1300000 |
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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 an established company having good track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. 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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
2/5, |
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Tel. No.: |
91-33-24543280 / 24758371 / 24758500 / 24543200 / 24543281 |
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Fax No.: |
91-33-24543269/ 24769052 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
701/702, Midas Sahar Plaza, Andheri Kurla Road, Andheri East, Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-28352337 |
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Fax No.: |
91-22-28632375 |
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Location : |
Owned |
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|
|
|
Warehouse : |
Vashi |
|
Location : |
Rented |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Nagesh M. Patel |
|
Designation : |
Director |
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Address : |
25/A, |
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Date of Birth/Age : |
25.12.1960 |
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Date of Appointment : |
11.04.2002 |
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Election ID No : |
WB/23/146/126710 |
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DIN No : |
00443530 |
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|
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Name : |
Mr. Ramesh V. Patel |
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Designation : |
Director |
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Address : |
15A, |
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Date of Birth/Age : |
13.06.1947 |
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Date of Appointment : |
11.04.2002 |
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Election ID No : |
WB/23/146/306423 |
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|
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Name : |
Mr. Ketan R. Patel |
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Designation : |
Director |
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Address : |
15A, |
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Date of Birth/Age : |
16.01.1973 |
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Date of Appointment : |
01.10.2004 |
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Election ID No : |
WB/23/146/306425 |
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|
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Name : |
Mr. Dhirajlal H. Vasa |
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Designation : |
Director |
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Address : |
75A, Bakul Bagan Road, Kolkata – 700025, West Bengal, India |
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Date of Birth/Age : |
18.03.1962 |
|
Date of Appointment : |
01.10.2004 |
|
DIN No : |
00435289 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Maganlal Ambavi Tilva |
657500 |
|
Nagesh Maganlal Patel |
281650 |
|
Prafulla Nagesh Tilva |
460550 |
|
Ramesh V Patel |
35750 |
|
Pravinaben Manaharlal |
45650 |
|
Bharatkumar Madia HUF |
100 |
|
Jayantilal Madia HUF |
100 |
|
Nagindas Madia HUF |
100 |
|
Meena Madia |
100 |
|
Alpa Madia |
100 |
|
Kusum Madia |
100 |
|
Chtan P Shah |
100 |
|
Surekha D Patel |
100 |
|
Ramaben Patel |
100 |
|
Sonalben P Kalaria |
100 |
|
Pravinkumar Kalaria |
100 |
|
Jayshree B Kalaria |
100 |
|
Dilipkumar D Tilva |
200 |
|
Ketan Patel |
15000 |
|
Meera Patel |
2500 |
|
Narshidas Ghetia HUF |
6000 |
|
Savitaben N Patel |
4000 |
|
Narshidas Ghetia |
6000 |
|
Tarun Ghetia |
4000 |
|
Jamnadas Chagan Patel |
100 |
|
Jitendra P Patel |
100 |
|
Sunny Shatish Patel |
22500 |
|
Satish V Patel |
50000 |
|
Sukant Management Private Limited, India |
100000 |
|
Pawapuri Mercantile Private Limited, India |
100000 |
|
Bimalnath Impex Private Limited, India |
100000 |
|
Maganlal Ambavi Tilva HUF |
306140 |
|
Nagesh Maganlal Patel HUF |
154160 |
|
Hiten N Gandhi |
2000 |
|
Amit Patel |
20000 |
|
Hina Vasa |
10000 |
|
Dhirajlal Vasa |
25000 |
|
Bipin G Patel |
15000 |
|
Sonam Patel |
20000 |
|
Pratik Patel |
20000 |
|
Shila Patel |
10000 |
|
Anjana R Patel |
25000 |
|
Narendra Patel |
89207 |
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Total |
2589207 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
3.45 |
|
Directors or relatives of Directors |
96.55 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Industrial Equipments Machineries. |
|
|
|
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Products : |
Machinery and Machinery Spares. |
GENERAL INFORMATION
|
Customers : |
·
SAIL ·
Bhusan Steel ·
Essar Steel ·
ONGC ·
Haldia Petrochemicals ·
Mangalore Refineries ·
Punj Lloyd ·
Bakreswar Thermal Power Plant ·
Essar Power ·
Maruti ·
Hyundai ·
Skoda Automobiles ·
Swaraj Mazda ·
New Holland Tractors ·
Diesel Locomotive Works ·
Diesel Loco Modernization Works ·
Southern Railway ·
Eastern Railway ·
Bharat Fitz Werner ·
Kenna Metal ·
JK Tyres ·
Apollo Tyres ·
Kirloskar ·
Manugraph India |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
v
ABN
Amro Bank, 18A, Braboorn Road Branch, Kolkata-730754, West Bengal, India v
Union
Bank of India, M G Road Branch, 134/4, Mahatma Gandhi Road, Kolkata-700007,
West Bengal, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
D. K. Madia and
Company (Chartered
Accountant) |
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Address : |
29 - A, |
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Associates/Subsidiaries : |
Ims Maco Services Private limited CIN No : U74999WB2006PTC107090 Sibre Brakes (India) Private Limited CIN No : U50200WB2006PTC112088 Metalock Maco Engineering (India) Private Limited CIN No : U74210WB2009PTC138751 |
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 |
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|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2589207 |
Equity Shares |
Rs.10/- each |
Rs. 25.892
Millions |
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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 |
25.892 |
25.892 |
25.892 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
322.200 |
192.814 |
89.253 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
348.092 |
218.706 |
115.145 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
53.116 |
63.748 |
21.939 |
|
|
TOTAL BORROWING |
53.116 |
63.748 |
21.939 |
|
|
DEFERRED TAX LIABILITIES |
0.519 |
0.781 |
0.738 |
|
|
|
|
|
|
|
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TOTAL |
401.727 |
283.235 |
137.822 |
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APPLICATION OF FUNDS |
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|
|
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|
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|
|
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|
FIXED ASSETS [Net Block] |
29.949 |
30.434 |
29.958 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
103.385 |
8.065 |
4.840 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
56.429
|
38.561
|
21.889
|
|
|
Sundry Debtors |
144.126
|
166.660
|
72.058
|
|
|
Cash & Bank Balances |
112.213
|
135.962
|
40.777
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
232.917
|
153.682
|
92.537
|
|
Total
Current Assets |
545.685
|
494.865 |
227.259 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
75.809
|
103.647
|
69.421
|
|
|
Other Current Liabilities |
47.664
|
60.162 |
5.283 |
|
|
Provisions |
153.819
|
86.320 |
49.531 |
|
Total
Current Liabilities |
277.292
|
250.129
|
124.235
|
|
|
Net Current Assets |
268.393
|
244.736
|
103.024
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
401.727 |
283.235 |
137.822 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
457.868 |
417.518 |
266.935 |
|
|
|
Project Income |
85.749 |
33.091 |
0.000 |
|
|
|
Commission Income |
141.970 |
122.035 |
0.000 |
|
|
|
Other Income |
15.797 |
23.056 |
150.327 |
|
|
|
TOTAL (A) |
701.384 |
595.700 |
417.262 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
309.591 |
305.846 |
175.189 |
|
|
|
Project Expenses |
69.395 |
18.620 |
0.000 |
|
|
|
Commission Expenses |
41.311 |
49.676 |
0.000 |
|
|
|
Administrative Expenses |
99.639 |
75.295 |
160.421 |
|
|
|
Material handling Expenses |
0.000 |
0.000 |
2.352 |
|
|
|
Increase / Decrease Stock |
(17.868) |
(16.672) |
(7.536) |
|
|
|
TOTAL (B) |
502.068 |
432.765 |
330.426 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
199.316 |
162.935 |
86.836 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
199.316 |
162.935 |
86.836 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.692 |
2.871 |
2.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
196.624 |
160.064 |
84.743 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
67.238 |
56.502 |
31.842 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
129.386 |
103.562 |
52.901 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
192.368 |
88.806 |
35.905 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
321.754 |
192.368 |
88.806 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
141.970 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
244.787 |
204.978 |
109.456 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
18.45
|
17.38 |
12.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
42.94
|
38.34 |
31.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
34.16
|
30.47 |
32.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56
|
0.73 |
0.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.95
|
1.44 |
1.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.97
|
1.98 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The Company has achieved a Profit of Rs. 129.386 millions. The Directors
looking forward to better prospects in coming years.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10031848 |
|
Corporate
identity number of the company |
U36900WB2002PTC094503 |
|
Name of the company
|
MACO CORPORATION ( |
|
Address of the
registered office or of the principal place of business in |
2/5, |
|
Type of charge |
Immovable
Property Book Debts Movable Property Floating Charge Others |
|
Particular of
charge holder |
Union Bank of
India, M.G. Road branch, 134/4, Mahatma Gandhi road, Kolkata-700007, West
Bengal, India. |
|
Nature of description
of the instrument creating or modifying the charge |
1. composite
hypothecation deed (sd-20) 2. memorandum of
deposit of title deeds (company) (ad-14) |
|
Date of
instrument Creating the charge |
11.08.2009 |
|
Amount secured by
the charge |
Rs. 0.180 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1. Import LC (da
90 days) limit Rs. 10.000 million,
usual rate 2. Letter of guarantee
limit Rs. 170.000 millions, usual rate Rates of
interest/ commission are subject to banks credit policy, RBI directives and
fedia rules Terms of Repayment : entire credit facilities comprising of 1. Import LC (DA
90 days) limit Rs. 10.000 millions 2. Letter of
gurantee limit Rs. 170.000 millions are repayable on demand. Margin : 1. Import LC (da
90 days) limit Rs. 10.000 million, margin 25 % 2. Letter of
gurantee limit Rs. 170.000 millions, margin 25% Extent and Operation of the charge : 1. First charge
by way of EM on cos. Immovable property comprising of Flat No. 6C at 6th
Floor on Premises No. 2/5 Sarat Bose
Road, Kolkata-20 as per memorandum 2. Hypothecation
by way of first charge on goods under LC, book debts and deposits held as
margin / collateral with the bank. 3. Floating
charge is created on the rest of co’s undertaking i. e, on all its other
assets situated at 2/5, Sarat Bose Road, Sukh Sagar Building, 7th
Floor, Kolkata -20 or elsewhere or are in course of transit. Others: Inter alia to secure the aforesaid credit facilities of Rs. 180.000
million, sanctioned and extended by union bank of India, m. g. road branch to
M/s Maco Corporation (India) Private Limited, the company has created charge
on its assets |
|
Short particulars
of the property charged |
1. First charge
by equitable mortgage created on co’s immovable property comprising of Flat
No. 6c at 6th Floor on Premises No.2/5 Sarat Bose Road,
Kolkata-700020 as per conveyance deed no. 2899 of 2006. |
|
Date of latest
modification prior to the present modification |
20.06.2008 |
|
Particulars of
the present modification |
By this
modification overall charge registered against the company, M/s Maco
Corporation (India) Private Limited in favour of Union Bank of India, M. G.
Road Branch stands modified from earlier Rs. 80.000 millions to now Rs.
180.000 million. |
FIXED ASSETS :
- Air
Conditioner
- Computer and
Printer
- Fax Machine
- Motor Car
- Office
Premises
- Type Writer
- Xerox Machine
- Furniture
- Scooter
- Land
WEBSITE DETAILS
PROFILE
Subject was established in 1957, with a
goal to provide services as an Importer of Industrial Equipments and Spares to
Indian Industries. Today Maco Corporation is one of India’s Leading Representatives
of Internationally acclaimed Overseas Manufacturers of Industrial Equipments.
To
establish better and faster business relationship, between their foreign
principals and their clients, Sunag
Corporation (USA) was established in New Jersey, USA in 1984, and Sunag Corporation (Europe) was established at Middlesex, UK in 1992.
Their Nine (9) Branch Offices
are strategically placed at major metros and key industrial locations
throughout India facilitating smooth business relationships between their
overseas principals and our Indian counterparts.
In this new world of challenging economies and revolutionary technology, MACO
has kept pace with value addition in its services encompassing the use of new
technologies, to facilitate trade suited to client requirements.
Their highly skilled manpower enables the group to represent global technology
leaders with the aim of serving diverse industrial sectors and applications.
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.44.91 |
|
|
1 |
Rs.72.89 |
|
Euro |
1 |
Rs.64.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.