|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDIA STEEL SUMMIT PRIVATE LIMITED (w.e.f. 05.06.2009) |
|
|
|
|
Formerly Known
As : |
SUMISHO STEEL CENTRE INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
4th Floor, DLF Centre, Sansad Marg, New Delhi – 110001,
Delhi |
|
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.08.2006 |
|
|
|
|
Com. Reg. No.: |
55-152545 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1078.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109DL2006PTC152545 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS34582C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS7687N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider of Steel Processing and Fabrication |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of SUMITOMO GROUP, Japan. It is an established
company having a moderate track record. There appears accumulated losses recorded during financial year 2013,
which is treating to liquidity position of the company. The company has taken huge external borrowing during the financial
year 2013. Trade relations are |
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 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
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.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No.: 91-120-4045819
LOCATIONS
|
Registered Office : |
4th Floor, DLF Centre, Sansad Marg, New Delhi – 110001,
Delhi, India |
|
Tel. No.: |
91-11-23737181/ 85 |
|
Fax No.: |
91-11-23737111 |
|
E-Mail : |
vinay.shukla@indiasteelsummit.com |
|
|
|
|
Corporate Office / Factory : |
2F and G, Udyog Kendra, Ecotech III, Greater Noida – 121001, |
|
Tel. No.: |
91-120-4045819/ 4045800 |
DIRECTORS
(AS ON 07.06.2012)
|
Name : |
Mr. Daisuke Kajikawa |
|
Designation : |
Managing Director |
|
Address : |
F-7, Second Floor, Maharani Bagh, New Delhi – 110065, Delhi, India |
|
Date of Birth/Age : |
15.07.1968 |
|
Date of Appointment : |
30.05.2011 |
|
DIN No.: |
03567113 |
|
|
|
|
Name : |
Katsuya Inubushi |
|
Designation : |
Director |
|
Address : |
5-15-4, Den-en Chofu, Ota Tokyo-1570065, Japan |
|
Date of Birth/Age : |
28.10.1963 |
|
Date of Appointment : |
09.11.2011 |
|
DIN No.: |
05148548 |
|
|
|
|
Name : |
Atsushi Yoshida |
|
Designation : |
Alternate Director |
|
Address : |
1-57-16, Nishigahara, Kita-ku Tokyo 1140024, Japan |
|
Date of Birth/Age : |
15.06.1961 |
|
Date of Appointment : |
25.09.2012 |
|
DIN No.: |
06400526 |
KEY EXECUTIVES
|
Name : |
Mr. Vinay Shukla |
|
Designation : |
Secretary |
|
Address : |
J-204, Wembley Estate, Sector 50, Gurgaon-122002, Haryana, India |
|
Date of Birth/Age : |
20.01.1969 |
|
Date of Appointment : |
19.10.2009 |
|
PAN No.: |
ABLPS6524K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 07.06.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sumotomo Corporation (Japan) |
|
107799990 |
|
Katsuya Inubushi |
|
10 |
|
|
|
|
|
Total |
|
107800000 |
(AS ON 29.05.2013)
|
Names of Allottess |
|
No. of Shares
Allotted |
|
|
|
|
|
Sumotomo Corporation (Japan) |
|
65000000 |
|
|
|
|
|
Total |
|
65000000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.99 |
|
Other top fifty shareholders |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of Steel Processing and Fabrication |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
B.S.R. and Company Chartered Accountant |
|
Address : |
Building No. 10, 8th Floor, Tower B, DLF Cyber City,
Phase-II, Gurgaon–122002, Haryana, India |
|
Tel. No.: |
91-124-2549191 |
|
Fax No.: |
91-124-2549101 |
|
PAN No.: |
AAAFK1415H |
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|
|
|
Holding Company
and Ultimate Holding Company: |
· Sumitomo Corporation, Japan |
|
|
|
|
Fellow Subsidiaries : |
·
Sumitomo Corporation India Private Limited ·
Sumitomo Corporation, Taiwan ·
Sumitomo Corporation, Korea ·
PT Super Steel Indah, Jakarta ·
Asian Steel Company Limited, Singapore ·
Sumitomo Metal Industries Limited ·
Steel Centre (M) SDN BHD, Malaysia ·
Asian Steel Company Limited, Singapore ·
Thai Steel Service Centre Limited, Thailand ·
Mason Metal Industry Company Limited, Taiwan ·
Sumiputeh Steel Centre (SDN) (BHD), Malaysia ·
Sumisho Speciality Steel corporation |
CAPITAL STRUCTURE
(AS ON 05.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
177800000 |
Equity Shares |
Rs.10/- each |
Rs.1778.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
172800000 |
Equity Shares |
Rs.10/- each |
Rs.1728.000 Millions |
|
|
|
|
|
(AS ON 31.3.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
107800000 |
Equity Shares |
Rs.10/- each |
Rs.1078.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
107800000 |
Equity Shares |
Rs.10/- each |
Rs.1078.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1078.000 |
1078.000 |
1078.000 |
|
(b) Reserves & Surplus |
(1018.956) |
(427.494) |
(121.010) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
59.044 |
650.506 |
956.990 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
896.435 |
968.914 |
838.390 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.589 |
3.721 |
2.674 |
|
Total Non-current
Liabilities (3) |
903.024 |
972.635 |
841.064 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
380.000 |
139.404 |
0.000 |
|
(b)
Trade payables |
274.701 |
301.521 |
153.824 |
|
(c)
Other current liabilities |
18.254 |
18.652 |
10.516 |
|
(d) Short-term
provisions |
1.120 |
0.302 |
0.843 |
|
Total Current
Liabilities (4) |
674.075 |
459.879 |
165.183 |
|
|
|
|
|
|
TOTAL |
1636.143 |
2083.020 |
1963.237 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
876.508 |
1336.281 |
1486.538 |
|
(ii)
Intangible Assets |
5.962 |
10.184 |
12.372 |
|
(iii) Capital
work-in-progress |
0.112 |
1.729 |
46.103 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
92.913 |
168.265 |
38.069 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
975.495 |
1516.459 |
1583.082 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
357.901 |
322.149 |
159.439 |
|
(c)
Trade receivables |
134.452 |
88.806 |
76.213 |
|
(d) Cash
and cash equivalents |
0.521 |
1.021 |
18.168 |
|
(e)
Short-term loans and advances |
162.657 |
153.455 |
125.205 |
|
(f)
Other current assets |
5.117 |
1.130 |
1.130 |
|
Total
Current Assets |
660.648 |
566.561 |
380.155 |
|
|
|
|
|
|
TOTAL |
1636.143 |
2083.020 |
1963.237 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
936.492 |
821.713 |
487.558 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1527.954 |
1128.197 |
605.975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(591.462) |
(306.484) |
(118.417) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(591.462) |
(306.484) |
(118.417) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(427.494) |
(121.010) |
(2.593) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1018.956) |
(427.494) |
(121.010) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
-- |
20.453 |
-- |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.49) |
(2.84) |
(1.10) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(63.16)
|
(37.30) |
(24.29) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(36.15)
|
(14.73) |
(6.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(10.02) |
(0.47) |
(0.12) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
21.62
|
2.20 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98
|
1.23 |
2.30 |
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 |
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 |
No |
|
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 |
No |
UNSECURED LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand |
380.000 |
139.404 |
|
|
|
|
|
Total |
380.000 |
139.404 |
NOTE
Registered office of the company has been shifted from AB – 45, Mainwali
Nagar, Paschim Vihar,
BUSINESS
The company’s revenue
from operations increased during the year to Rs.936.492Millions from Rs.821.713
Millions with a growth of 13.96% over previous year. However, the company has
incurred loss of Rs.591.462 Millions. The management is taking steps to
overcome this situation including new project of Tool steel.
COMPANY OVERVIEW
The company was incorporated in Indian on 26th
August 2006 to carry on business for manufacturing and trading of steel and
auto components in India. The company has started its commercial operation
from 2 April 2010.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
Claims against the company not acknowledge
as debts (Represents demand raised by Greater Noida Industrial
Development Authority (GNIDA) for increase in annual lease rental. The demand
is currently contested by the company. |
6.445 |
6.445 |
|
Excise Duty Matter |
9.861 |
-- |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Leasehold Land
· Furniture and Fixtures
· Office Equipment
· Computers
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 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.61.92 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.