MIRA INFORM REPORT

Report Date :

10.08.2013

IDENTIFICATION DETAILS

Name :	ONGC PETRO ADDITIONS LIMITED
Registered Office :	1^st Floor, Omkara Building, Sai Chokdi, Manjalpur, Vadodara – 390011, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	15.11.2006
Com. Reg. No.:	04-060282
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U23209GJ2006PLC060282
Legal Form :	A Closely held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of all Kinds of Petro- Chemical Products
No. of Employees :	Information Denied by Management.

RATING & COMMENTS

MIRA’s Rating :

Ba (55)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 53400000
Status :	Project under implementation
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a multi billion joint venture company incorporated in 2006, as a public limited company under the companies act 1956. The company has been promoted by Oil and Natural Gas Corporation (ONGC) and co-promoted by GAIL and GSPC. The subject is yet to commence its commercial operations and incurred huge development expenses in order to implement the project during 2012. The rating also take into consideration the fund raising capabilities of the promoting companies. Trade relations are fair. Payment terms are reported as per commitments. In view of strong support of government owned public sector undertakings, the subject can be considered normal for 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.

INDIAN ECONOMIC OVERVIEW

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Proposed short term debt : A1+
Rating Explanation	Very strong degree of safety and lowest credit risk. (Suspended)
Date	20.03.2013

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 has been found enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DENIED

Management Non Co-operative

Contact No.:	91-265-6192600
Date :	09.08.2013

LOCATIONS

Registered Office / Corporate :	1^st Floor, Omkara Building, Sai Chokdi, Manjalpur, Vadodara – 390011, Gujarat, India
Tel. No.:	91-265-6192600
Mobile No.:
Fax No.:	91-265-6192666
E-Mail :	sppankaj@opalindia.in info@opalindia.com
Website :	http://www.opalindia.in
Branch Office :	3^rd Floor, Mohan Dev Building, 13, Tolstoy Marg, New Delhi – 110001, India
Tel. No.:	91-11-43199600
Factory :	Plot No.Z-1, Z-83, C/o Dahej Sez Limited, P.O. Dahej – 392130, Taluka Vagra, District Bharuch, Gujarat, India

DIRECTORS

As on : 14.09.2012

Name :	Mr. Mukund Manohar Chitale
Designation :	Director
Address :	4/46, Vishnuprasad Society, Shanti Raje Marg, Vile Parle (East), Mumbai- 400057, Maharashtra, India
Date of Birth/Age :	16.11.1949
Date of Appointment :	20.02.2008
DIN No.:	00101004
Name :	Mr. Tapan Durgadas Ray
Designation :	Director
Address :	Block No.-18A, Sector – 19-KH, Gandhinagar-382019, Gujarat, India
Date of Birth/Age :	09.09.1957
Date of Appointment :	15.01.2010
DIN No.:	00728682
Name :	Mr. Ajitkumar Hazarika
Designation :	Director
Address :	B 48, Chhota Singh Block Asian Games Village, New Delhi – 110049, India
Date of Birth/Age :	30.09.1952
Date of Appointment :	01.02.2011
DIN No.:	00748918
Name :	Mr. Sudhir Vasudeva
Designation :	Chairman
Address :	D- 282, ONGC Officers, Flat Bandra Reclamation, Bandra West, Mumbai – 400050, Maharashtra, India
Date of Birth/Age :	25.03.1954
Date of Appointment :	28.03.2011
DIN No.:	01594524
Name :	Mr. Balachandran Srinivasan
Designation :	Additional Director
Address :	D-1/38, Rabindra Nagar, New Delhi-110003, India
Date of Birth/Age :	27.08.1946
Date of Appointment :	29.11.2010
DIN No.:	01962996
Name :	Mr. Shadey Lal Raina
Designation :	Director
Address :	53, Vasundhra Enclave, New Delhi Apartments, New Delhi – 110096, India
Date of Birth/Age :	26.05.1953
Date of Appointment :	28.03.2011
DIN No.:	02766927
Name :	Mr. Venkatraman Srinivasan
Designation :	Director
Address :	E – 85, Bakhtawar Singh, Block Asian Games Village New Delhi – 110009, India
Date of Birth/Age :	28.09.1954
Date of Appointment :	28.03.2011
DIN No.:	03039646
Name :	Mr. Jamestin Kizhakkekuttu Scaria
Designation :	Director
Address :	B - 45, Chota Singh, Block Asian Games Village New Delhi – 110049, India
Date of Birth/Age :	16.07.1954
Date of Appointment :	21.09.2011
DIN No.:	03535309

KEY EXECUTIVES

Name :	Mr. Subodh Prasad Pankaj
Designation :	Secretary
Address :	2B, 1^st Floor, Siongle Storey, Ramesh Nagar, New Delhi-110015, India
Date of Birth/Age :	15.03.1964
Date of Appointment :	11.01.2010
Name :	Dr. P.S.V Rao
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 14.09.2012

Names of Shareholders	No. of Shares
Oil And Natural Gas Corporation Limited, New Delhi, India	20967
GSPC Limited, Gujarat, India	4033
A K Deb	5000
R Vijayarangan	5000
Akhil Verma	4997
Shyama Prasad Bandopadhyay	1
Iqbal Parvez	5000
Vijay Iyah	4999
Vivek Chandrakant Tongainka	1
Dr. PSV Rao	1
Gain (India) Limited	1
Total	50000

As on : 14.09.2013

Names of Allotees	No. of Shares
Oil And Natural Gas Corporation Limited, New Delhi, India	637429673
Gujarat State Petroleum Corporation Limited, India	29000000
Gail (India) Limited	634440000
Total	1300869673

As on : 16.05.2013

Names of Allotees	No. of Shares
Oil And Natural Gas Corporation Limited, New Delhi, India	360504999
Gail (India) Limited	360504999
Total	721009998

Equity Share Break up (Percentage of Total Equity)

As on : 14.09.2012

Category	Percentage
Government companies	50.00
Other top fifty shareholders	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of all kinds of Petro- Chemical Products.

GENERAL INFORMATION

No. of Employees :	Information Denied by Management.
Bankers :	State Bank of India
Facilities :	--

Financial Institution :	SBICAP Trustee Company Limited
Auditors :
Name :	K. K. Soni and Company Chartered Accountants
Address :	130, Sarojini Market, New Delhi- 110023, India
Tel No :	91-11-24673264 / 26880876
Fax No :	91-11-26874930
Email :	kks@kksoni.com
PAN No.:	AAAFK4654N
Related Parties :	v Oil and Natural Gas Corporation Limited (ONGC) v Gujarat State Petroleum Corporation (GSPC) v Gail (India)

CAPITAL STRUCTURE

As on : 14.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000000	Equity Share	Rs.10/- each	Rs. 80000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- Each	Rs. 0.500 Million

After : 14.09.2012

No. of Shares	Type	Value	Amount
8000000000	Equity Share	Rs.10/- each	Rs. 80000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2021929671	Equity Share	Rs.10/- Each	Rs. 20219.297 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500
(b) Reserves & Surplus	0.000	0.000
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	13351.790	12987.190
Total Shareholders’ Funds (1) + (2)	13352.290	12987.690
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	325.760	0.000
(d) long-term provisions	1.160	1.240
Total Non-current Liabilities (3)	326.920	1.240
(4) Current Liabilities
(a) Short term borrowings	69949.150	34464.500
(b) Trade payables	0.000	0.000
(c) Other current liabilities	10302.120	7918.970
(d) Short-term provisions	0.030	0.030
Total Current Liabilities (4)	80251.300	42383.500
TOTAL	93930.510	55372.430
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10781.560	2356.920
(ii) Intangible Assets	1.410	0.430
(iii) Capital work-in-progress	49457.940	24131.850
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	5129.620	3586.400
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	65370.530	30075.600
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	2.930	0.200
(e) Short-term loans and advances	28546.150	25288.170
(f) Other current assets	10.900	8.460
Total Current Assets	28559.980	25296.830
TOTAL	93930.510	55372.430

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.500
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
5] Advance Against Equity Share		9128.300
NETWORTH		9128.800
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		17689.000
TOTAL BORROWING		17689.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		26817.800
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2582.860
Capital work-in-progress		29521.040
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.020
	Other Current Assets	0.000
	Loans & Advances	10.850
Total Current Assets		10.870
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4500.140
	Other Current Liabilities	796.180
	Provisions	0.650
Total Current Liabilities		5296.970
Net Current Assets		(5286.100)
MISCELLANEOUS EXPENSES		0.000
TOTAL		26817.800

KEY RATIOS

PARTICULARS	31.03.2012	31.03.2011	31.03.2010
Debt Equity Ratio (Total Liability/Networth)	5.24	2.65	1.94
Current Ratio (Current Asset/Current Liability)	0.42	0.68	0.00

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

NOTE :

CURRENT MATURITIES OF LONG TERM DEBT : NOT AVAILABLE

FINANCIAL RESULTS :

The company is yet to commence commercial operations. The cumulative Project Development Expenses of Rs. 91840.300 Millions (Previous Year Rs. 52994.500 Millions) incurred upto 31" March, 2012 in implementation of the Project are to be capitalized.

ECONOMIC SCENARIO - GLOBAL AND INDIAN GLOBAL ECONOMY ;

Performance of major advanced economies in the year 2011-12 has been a point of concern as the economic outlook of the Euro Area continues to be grim in the shadow of a protracted sovereign debt crisis. Japan is still trying to cope up with the economic impact of natural calamities which is having an impact on its export partners. Despite some modest signs of improvement in the US, the European debt problem has unquestionably remained as a dominant global factor and a source of volatility in asset and currency markets all over the world. By contrast, emerging market economies have generally shown reasonable robustness - mainly on account of their domestic drivers and increasing linkages with each other.

INDIAN ECONOMY :

The Indian macroeconomic environment has looked turbulent during the year 2011-12. High inflation, rising interest rates, spiralling oil prices and dampened business sentiments contributed to the slowdown in Industrial Growth. However, agriculture and services continued to perform well. Overall GDP growth rate dropped from a high of 6.1% in 2010-11 to6.9% in the first 3 quarters of the year 2011-2012. The Reserve Bank of India has reduced repo rates by 50 basis points in April 2012. This is expected to improve liquidity and investments.

For the Indian economy, the outlook for growth at this juncture looks more promising. There are signs from some high frequency indicators that the weakness in economic activity has bottomed out and a gradual upswing is imminent.

PETROCHEMICALS BUSINESS :

Ethylene: Ethylene is a building block for manufacturing polymers like polyethylene, polyvinyl chloride and polystyrene, as well as organic chemicals like ethylene oxide and ethylene glycols. These products find applications in number of end markets, mainly, packaging, transportation, electronics, textiles and construction etc.

Global ethylene markets recovered from oversupply that resulted mainly from expanded capacity in the Middle East and Asia and recessionary global conditions. The operating rate improved from 84.9% to 85.2%. Global ethylene prices remained high due to higher crude oil and naphtha prices and plant turnarounds. European crisis and stagnant Chinese demand resulted in slower demand growth. Capacity additions in recent times have dramatically changed the supply scenario. During the year, 90% of capacity additions were from the Middle East and Asia. The feedstock mix for cracker changed in favour of gas and hence globally, naphtha-based operators experienced cost increases due to higher input costs.

Polymers: Polymers witnessed growth driven by applications whereby plastics delivered a cost advantage and performance enhancement. Consumption of global commodity plastics in FY 2011-12 was estimated at 205 MMT, This included products like polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), Polystyrene, ABS, PET and Polycarbonate. Of this, PE accounted for 37% of all plastic consumption, followed by PP which accounted for 26% of the total plastic demand respectively.

UNSECURED LOANS :

(Rs in Millions)

PARTICULARS	31.03.2012	31.03.2011
Short term borrowings :
Loans repayable on demand
Allahabad Bank	2845.000	3497.500
Andhra Sank	4999.870	--
Bank of Baroda	4999.890	10000.000
Omars Bank	7300.000	10000.000
Central Bank of India	4799.990	1295.500
Corporation Bank	9999.96	--
Indian Bank	4456.500	--
Indian Overseas Bank	6040.820	--
Punjab National Bank	--	4671.500
State Bank of Mysore	1999.990	--
Syndicate Bank	9000.000	--
United Bank of India	8499.830	--
Union Bank of India	5007.300	5000.000
Total	69949.150	34464.500

INDEX OF CHARGE :

Sr .No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10407183	25/02/2013	149,770,000,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, Maharashtra - 400005, INDIA	B69220598

FIXED ASSETS:

• Leasehold Land
• Building on Leasehold Land
• Plant and Machinery
• Office Equipments
• Computer
• Furniture and Fixtures
• Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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. 61.11
UK Pound	1	Rs. 94.77
Euro	1	Rs. 81.54

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	NIS

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	7
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	YES
TOTAL		55

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.