MIRA INFORM REPORT

Report Date :

02.07.2013

IDENTIFICATION DETAILS

Name :	NINA CONCRETE SYSTEMS PRIVATE LIMITED
Registered Office :	54, Huges Road, Mumbai – 400007, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	28.06.2002
Com. Reg. No.:	11-136356
Capital Investment / Paid-up Capital :	Rs. 7.113 Millions
CIN No.: [Company Identification No.]	U26940MH2002PTC136356
IEC No.:	0303003570
TAN No.: [Tax Deduction & Collection Account No.]	MUMN10681G
PAN No.: [Permanent Account No.]	AABCN6179P
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Construction solutions. Manufacturer and Exporter of Concrete Floor Systems, Speciality Building Products Exterior Wall Facades, Retrofitting and Restaurants, etc
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 1900000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a part of “Nina Group”. It is an established company having satisfactory track record. The company has achieved better growth in the profitability during 2012. Financial position appears to be strong and healthy. However, the company’s liquidity is stretched mainly due to large working capital requirements. However, trade relations are fair. Business is active. Payment terms are reported as usually correct. In view of promoters extensive industry experience and established market position, the company 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.

ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long terms rating = BB+
Rating Explanation	Moderate risk of default.
Date	09.01.2013

Rating Agency Name	CRISIL
Rating	Short terms rating = A4+
Rating Explanation	Minimal degree of safety and very high credit risk. .
Date	09.01.2013

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 is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	54, Huges Road, Mumbai – 400007, Maharashtra, India
Tel. No.:	91-22-23692462 / 23683276
Fax No.:	91-22-23691894
E-Mail :	ninaind@bom5.vsnl.net.in info_support@ninaindia.com kaushal.parikh@ninaindia.com
Website :	http://www.ninaindia.com
Area :	1500 Sq. ft.
Location :	Rented
Branches :	Located at : Pune New Delhi Bangalore Hyderabad Chennai Goa Kolkata Ahmedabad

DIRECTORS

As on: 30.09.2012

Name :

Mrs. Hetal Mehul Parikh

Designation :

Director

Address :

54, Mani Bhuvan, 3rd Floor, Hughes Road, Chowpatty, Mumbai – 400 007, Maharashtra, India.

Date of Birth :

12.09.1974

Qualification :

MBA

Date of Appointment :

28.06.2002

PAN No.

AAEPK6755C

Voter ID No :

IS4237301

DIN No.:

01088397

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U26940MH2002PTC136356	Nina Concrete Systems Private Limited	Director	28/06/2002	28/06/2002	-	Active	NO
2	U26940MH2002PTC136355	Mekaul Construction Technologies Private Limited	Director	28/06/2002	28/06/2002	-	Active	NO
3	U45200MH1995PTC086434	Vijay Project Consultants And Land Developers Private Limited	Director	30/08/2006	30/08/2006	-	Active	NO
4	U01110MH1987PTC045727	Usha Farming Private Limited	Director	12/04/2007	12/04/2007	-	Active	NO
5	U01100MH1988PTC049127	Shailesh Farming Private Limited	Director	12/04/2007	12/04/2007	-	Active	NO
6	U01110MH1988PTC049214	Ranjan Farming Private Limited	Director	12/04/2007	12/04/2007	-	Active	NO
7	U01110MH1987PTC045729	Namrata Farming Private Limited	Director	12/04/2007	12/04/2007	-	Active	NO
8	U51909MH2008PTC182502	Impact Floors India Private Limited	Director	21/05/2008	21/05/2008	-	Active	NO
9	U45202MH2008PTC183682	Mitchells Construction Technologies Private Limited	Director	07/10/2008	07/10/2008	-	Active	NO

Name :

Mr. Kaushal Kirit Parikh

Designation :

Director

Address :

54, Mani Bhuvan, 3rd Floor, Hughes Road, Chowpatty, Mumbai – 400 007, Maharashtra, India.

Date of Birth :

08.04.1976

Qualification :

MBA

Date of Appointment :

28.06.2002

PAN No.

AGVPP5827F

Voter ID No :

MT/04/023/0168363

DIN No.;

00902185

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U26940MH2002PTC136356	Nina Concrete Systems Private Limited	Director	28/06/2002	28/06/2002	-	Active	NO
2	U26940MH2002PTC136355	Mekaul Construction Technologies Private Limited	Director	28/06/2002	28/06/2002	-	Active	NO
3	U45200MH1995PTC086434	Vijay Project Consultants And Land Developers Private Limited	Director	30/08/2006	30/08/2006	-	Active	NO
4	U51909MH2008PTC182502	Impact Floors India Private Limited	Director	21/05/2008	21/05/2008	-	Active	NO
5	U45202MH2008PTC183682	Mitchells Construction Technologies Private Limited	Director	07/10/2008	07/10/2008	-	Active	NO
6	U52399MH2009PTC196305	Trend Setter Trading Private Limited	Director	04/02/2010	04/02/2010	-	Active	NO
7	U24100MH2009PTC193773	Penetron India Private Limited	Director	21/06/2011	21/06/2011	-	Active	NO

Name :

Mr. Mehul Kirit Parikh

Designation :

Director

Address ;

Mani Bhuvan, 3rd Floor, 54, Hughes Road, Chowpatty, Mumbai – 400 007, Maharashtra, India.

Qualification :

BBA

Date of Appointment :

05.10.2009

PAN No.

AFUPP4575Q

Voter ID No :

MT/04/023/0168430

DIN No.:

01088837

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U26940MH2002PTC136356	Nina Concrete Systems Private Limited	Director	05/10/2009	05/10/2009	-	Active	NO
2	U52399MH2009PTC196305	Trend Setter Trading Private Limited	Director	04/02/2010	04/02/2010	-	Active	NO
3	U24100MH2009PTC193773	Penetron India Private Limited	Director	21/06/2011	21/06/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2012

Names of Shareholders	No. of Shares
Kaushal Kirit Parikh	110000
Hetal Mehul Parikh	110000
Mekuaul Construction Technologies Private Limited, India	166000
Vijay Project Consultants and Land Development Limited, India	156000
Atlantic Dealers Private Limited	169333
Total	711333

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2012

Category	Percentage
Bodies corporate	69.08
Directors or relatives of directors	30.92
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing Construction solutions. Manufacturer and Exporter of Concrete Floor Systems, Speciality Building Products Exterior Wall Facades, Retrofitting and Restaurants, etc
Products :	Water Proofing Retrofitting and Restoration Concrete floor systems Exterior wall facades Speciality building products Soil Filter cum drainage System for landscape Civil Works

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long term borrowing
Term loans from banks	117.082	95.284
Short term borrowing
Loans repayable on demand	122.706	124.514
Total	239.788	219.798

Banking Relations :	--
Auditors :
Name :	D. Kothary and Company Chartered Accountants
Address :	75/76, C Wing, 7th Floor, Mittal Court, Nariman Point, Mumbai - 400002, Maharashtra, India
Tel. No.:	91-22-22093344
Fax No.:	91-22-22017174
PAN No.:	AAAFD2013L
Associates:	Mekul Construction Technology Private Limited, India CIN No. U26940MH2002PTC136355 Nina Industries Mekul Industries Impact Floors India Private Limited, India Pyramid Construction Technologies

CAPITAL STRUCTURE

As on: 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
711333	Equity Shares	Rs.10/- each	Rs. 7.113 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	7.113	4.320
(b) Reserves & Surplus	481.763	298.189
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.055	0.055
Total Shareholders’ Funds (1) + (2)	488.931	302.564
(3) Non-Current Liabilities
(a) long-term borrowings	135.571	222.240
(b) Deferred tax liabilities (Net)	0.789	0.660
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	136.360	222.900
(4) Current Liabilities
(a) Short term borrowings	122.706	124.514
(b) Trade payables	219.602	250.909
(c) Other current liabilities	203.436	114.265
(d) Short-term provisions	107.004	80.104
Total Current Liabilities (4)	652.748	569.792
TOTAL	1278.039	1095.256
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	22.672	19.911
(ii) Intangible Assets	1.125	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.871	0.871
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	367.781	310.201
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	392.449	330.983
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	220.395	205.361
(c) Trade receivables	401.363	344.541
(d) Cash and cash equivalents	90.221	52.694
(e) Short-term loans and advances	160.969	150.431
(f) Other current assets	12.642	11.246
Total Current Assets	885.590	764.273
TOTAL	1278.039	1095.256

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		4.320
2] Share Application Money		0.055
3] Reserves & Surplus		255.767
4] (Accumulated Losses)		0.000
NETWORTH		260.142
LOAN FUNDS
1] Secured Loans		143.610
2] Unsecured Loans		114.007
TOTAL BORROWING		257.617
DEFERRED TAX LIABILITIES		0.280
TOTAL		518.039
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		18.561
Capital work-in-progress		118.243
INVESTMENT		20.723
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	166.055
	Sundry Debtors	296.244
	Cash & Bank Balances	296.366
	Other Current Assets	0.000
	Loans & Advances	8.224
Total Current Assets		766.889
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	259.867
	Other Current Liabilities	73.518
	Provisions	72.992
Total Current Liabilities		406.377
Net Current Assets		360.512
MISCELLANEOUS EXPENSES		0.000
TOTAL		518.039

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1063.262	1000.420	917.953
		Other Income	23.922	16.817	12.773
		TOTAL (A)	1087.184	1017.237	930.726
	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	968.163	948.523	868.810
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		119.021	106.707	88.598
Less	FINANCIAL EXPENSES (D)		32.630	38.008	27.227
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		86.391	66.699	61.371
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.612	1.980	2.835
	PROFIT BEFORE TAX (E-F) (G)		82.779	66.719	58.536
Less	TAX (H)		27.029	21.779	20.419
	PROFIT AFTER TAX (G-H) (I)		55.750	44.940	38.117
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		171.723	113.796	113.352
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	4.494	15.146
		Dividend	NA	2.160	2.160
		Tax on Dividend	NA	0.359	0.367
	BALANCE CARRIED TO THE B/S		NA	171.723	113.796
	Earnings Per Share (Rs.)		78.37	104.00	89.06

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.12	4.41	4.10
Net Profit Margin (PBT/Sales)	(%)	7.79	6.67	6.38
Return on Total Assets (PBT/Total Assets}	(%)	6.48	6.10	7.45
Return on Investment (ROI) (PBT/Networth)		0.17	0.22	0.23
Debt Equity Ratio (Total Debt/Networth)		0.52	1.15	0.99
Current Ratio (Current Asset/Current Liability)		1.36	1.34	1.89

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	Yes
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	Yes
12]	Profitability for last three years	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
Long term borrowing
Rupees term loans from banks	18.489	126.956
Total	18.489	126.956

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U26940MH2002PTC136356
Name of the company	NINA CONCRETE SYSTEMS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	54, Huges Road, Mumbai – 400007, Maharashtra, India Email-id - kaushal.parikh@ninaindia.com
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India Email-id - RBBform8@hdfcbank.com
Nature of instrument creating charge	Memorandum Recording Past Transactions of Creation of Mortgage by Delivery of Title Deeds.
Date of instrument Creating the charge	18.04.2013
Amount secured by the charge	Rs. 65.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment On demand. Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge The Company created an equitable mortgage by way of deposit of title deeds in respect of its immovable properties as security for the due repayment of Rs.65.000 Millions by the Company including principal amount of the Facility, interest, liquidated damages, costs, charges and expenses etc. Others NIL.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	i) Immovable Property Situated at 504, Neelkanth Business Park, C Wing, Nathani Road, Vidyavihar West, Mumbai - 400 086. ii) Immovable Property Situated at 505, Neelkanth Business Park, C Wing, Nathani Road, Vidyavihar West, Mumbai - 400 086. iii) Immovable Property Situated at 506, Neelkanth Business Park, C Wing, Nathani Road, Vidyavihar West, Mumbai - 400 086.

FIXED ASSET:

• Plant and Machinery
• Furniture and Fixture
• Motor Cycle
• Computer
• Motor car
• Water pump
• Office Equipment
• Xerox Machine
• Printer
• Sand Washing Machine
• Weight Machine
• Air Conditioner
• Fax Machine
• Mobile
• Tempo
• Office Asset

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. 59.15
UK Pound	1	Rs. 90.06
Euro	1	Rs. 77.07

INFORMATION DETAILS

Report Prepared by :

DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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.