|
Report Date : |
01.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEGA DISPOSABLES
S.A. |
|
|
|
|
Registered Office : |
148 Dekeleias
13678 Acharnes Attiki |
|
|
|
|
Country : |
Greece |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.01.1980 |
|
|
|
|
Com. Reg. No.: |
003788 |
|
|
|
|
Legal Form : |
Societe anonyme |
|
|
|
|
Line of Business : |
·
Manufactures sanitary
paper products ·
Manufactures
pharmaceutical preparations ·
Manufacturing of
personal hygiene and care products |
|
|
|
|
No. of Employees |
356 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
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, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Greece |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
GREECE ECONOMIC OVERVIEW
Greece has a capitalist economy with a public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies. Tourism provides 18% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy averaged growth of about 4% per year between 2003 and 2007, but the economy went into recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing budget deficit. By 2013 the economy had contracted 26%, compared with the pre-crisis level of 2007. Greece met the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP in 2007-08, but violated it in 2009, with the deficit reaching 15% of GDP. Austerity measures have reduced the deficit to about 4% in 2013, including government debt payments. Deteriorating public finances, inaccurate and misreported statistics, and consistent underperformance on reforms prompted major credit rating agencies to downgrade Greece's international debt rating in late 2009, and led the country into a financial crisis. Under intense pressure from the EU and international market participants, the government adopted a medium-term austerity program that includes cutting government spending, decreasing tax evasion, overhauling the health-care and pension systems, and reforming the labor and product markets. Athens, however, faces long-term challenges to continue pushing through unpopular reforms in the face of widespread unrest from the country's powerful labor unions and the general public. In April 2010 a leading credit agency assigned Greek debt its lowest possible credit rating; in May 2010, the International Monetary Fund and Euro-Zone governments provided Greece emergency short- and medium-term loans worth $147 billion so that the country could make debt repayments to creditors. In exchange for the largest bailout ever assembled, the government announced combined spending cuts and tax increases totaling $40 billion over three years, on top of the tough austerity measures already taken. Greece, however, struggled to meet 2010 targets set by the EU and the IMF, especially after Eurostat - the EU's statistical office - revised upward Greece's deficit and debt numbers for 2009 and 2010. European leaders and the IMF agreed in October 2011 to provide Athens a second bailout package of $169 billion. The second deal however, called for holders of Greek government bonds to write down a significant portion of their holdings. As Greek banks held a significant portion of sovereign debt, the banking system was adversely affected by the write down and €41 billion of the second bailout package was set aside to ensure the banking system was adequately capitalized. In exchange for the second loan Greece promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, the massive austerity cuts have prolonged Greece's economic recession and depressed tax revenues. Throughout 2013, Greece's lenders called on Athens to step up efforts to increase tax collection, dismiss public servants, privatize public enterprises, and rein in health spending. In June 2013 Prime Minister Antonis SAMARAS's efforts to meet bailout conditions led to the departure of one party, the Democratic Left, from the governing coalition when his government made the controversial decision to shut down and restructure the state-owned television and radio company. Subsequent reluctance to institute further cuts and delays in meeting public sector reform targets prompted Greek lenders to withhold bailout fund disbursements until December 2013. However, investor confidence began to show signs of strengthening by the end of 2013 as leading macroeconomic indicators suggested the economy’s freefall had been arrested
|
Source
: CIA |
MEGA DISPOSABLES SA
Name: MEGA
DISPOSABLES S.A.
Address: 148 DEKELEIAS
13678
ACHARNES
ATTIKI
GREECE
Telephone: 30 2102419800
Telefax: 30 2102419818
E-mail
address: mega@megadis.gr
Web address: www.megadis.gr
The subject
company’s legal form is Societe anonyme which was registered on Jan 1, 1980 for
a period ending
Dec 31, 2030.
Registration
Number: 003788
Government Gazette
Number: 03575 / 1980
Chamber of
Commerce Number: 75545
Tax Registration
Number: 094074443
Konstantinos John
Vitouladitis
Chairman
Shareholder
Foteini
Konstantinos Vitouladitou
Vice-chairman
Shareholder
Konstantinos John
Vitouladitis
Chief executive
Shareholder
Vassiliki Basil
Dimitriou
Member
Shareholder
George Vassiloglou
Member
Lida Konstantinos
Vitouladitou
Member
Shareholder
Andreas Nomikos
Member
Danai Konstantinos
Vitouladitou
Member
Shareholder
Konstantinos John
Vitouladitis
Shareholder
Vassiliki Basil
Dimitriou
Shareholder
Dimitrios
Angeletopoulos
Shareholder
Haralambos
Meletiou
Shareholder
Foteini Konstantinos Vitouladitou
Shareholder
Alexandros Katevas
Shareholder
George Kollios
Shareholder
Angelos Katsinis
Shareholder
Angeliki
Antonopoulou
Shareholder
Panagiotis Soultos
Shareholder
Lida Konstantinos
Vitouladitou
Shareholder
Danai Konstantinos
Vitouladitou
Shareholder
Alpha Bank A.E.,
Ethniki Odos Lamia Branch branch., Athinon-Lamias
National Rd (17
Klm), Kifissia 14564, Greece.
Telephone: 30
2108071824
National Bank of Greece
S.A., Athinon - Lamias National Rd B branch.,
Galinis & 25
Potamou, Kifissia 14564, Greece.
Telephone: 30
2106252509
Alpha Bank S.A.
(ex Emporiki Bank), Kifissia Branch branch., 36
Kyriazi, Kifissia
14562, Greece.
Telephone: 30
2108088250
EUROBANK ERGASIAS
S.A., Athinon - Lamias National Rd B branch., Athinon
- Lamias National
Rd (20th klm), Agios Stefanos 14565, Greece.
Telephone: 30
2108136146
Bank of Piraeus
S.A., Athinon - Lamias National Rd B branch.,
Athinon-Lamias
National Rd (17th km), Kifissia 14564, Greece.
Telephone: 30
2106256400
|
TRADE PAYMENTS
|
|
|
|
Trade Payment
Summary
|
|
|
|
---------------------
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|
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|
EXP. DATE PAYING RECORD HIGH CREDIT NOW OWES PAST DUE TERM LAST SALE |
|
|
|
31/5/2014 PROMPT/SLOW 84,335 84,335
38,489 30 30/4/2014 |
|
|
|
|
|
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|
13/5/2014 PROMPT 3,766 0 0 30 13/2/2014 |
|
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|
13/5/2014 PROMPT 15,327 2,889 0
30 13/4/2014
|
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8/4/2014 PROMPT 3,766 0 0 30 8/1/2014 |
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8/4/2014 PROMPT 15,327 2,492 0
30 8/3/2014 |
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18/3/2014 PROMPT 222,341 0
0 30 18/10/2013 |
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12/3/2014 PROMPT 3,766 0 0 30 12/12/2013 |
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12/3/2014 PROMPT 15,327 2,014 0
30 12/2/2014 |
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18/2/2014 PROMPT 222,341 0
0 30 18/9/2013 |
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12/2/2014 PROMPT 2,090 0
0 30 12/11/2013 |
|
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|
12/2/2014 PROMPT 15,327 8,896 0
30 12/1/2014 |
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18/1/2014 PROMPT 228,136 0
0 30 18/10/2013 |
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18/1/2014 PROMPT 15,327 15,327 0
30 18/12/2013 |
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8/1/2014 PROMPT 3,482 0 0 30 8/10/2013 |
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31/12/2013
PROMPT 1,599 0 0 30 30/11/2013 |
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|
18/12/2013
PROMPT 228,136 0
0 30 18/9/2013 |
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11/12/2013
PROMPT 3,482 0 0 30 11/9/2013 |
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11/12/2013
PROMPT 4,736 4,736 0
30 11/11/2013 |
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30/11/2013
PROMPT 3,088 923 0 30 30/10/2013 |
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18/11/2013
PROMPT 228,136 0
0 30 18/10/2013 |
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11/11/2013
PROMPT 3,482 0 0 30 11/8/2013 |
|
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|
11/11/2013
PROMPT 4,180 2,894 0
30 11/10/2013 |
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30/9/2013 PROMPT 5,227 0 0 30 30/6/2013 |
|
|
|
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|
30/9/2013 PROMPT 13,756 1,292 0
30 30/8/2013 |
|
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|
30/9/2013 PROMPT 3,088 1,599 0
30 30/8/2013 |
|
|
|
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|
18/9/2013 PROMPT 228,136 222,341
0 30 18/8/2013 |
|
|
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|
31/8/2013 PROMPT 3,088 0 0 30 31/3/2013 |
|
|
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|
18/8/2013 PROMPT 228,136 222,341
0 30 18/7/2013
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13/8/2013 PROMPT 5,227 0 0 30 13/5/2013 |
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13/8/2013 PROMPT 14,242 4,180 0
30 13/7/2013 |
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31/7/2013 PROMPT 3,088 0 0 30 30/4/2013 |
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18/7/2013 PROMPT 232,284 177,539
0 30 18/6/2013 |
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9/7/2013 PROMPT 5,227 0 0 30 9/4/2013 |
|
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9/7/2013 PROMPT 14,242 3,802 0
30 9/6/2013 |
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30/6/2013 PROMPT 3,088 0
0 30 30/3/2013 |
|
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28/6/2013 PROMPT 5,227 0 0 30 28/3/2013 |
|
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28/6/2013 PROMPT 14,242 3,120 0
30 28/5/2013 |
|
|
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|
Nominal capital: 6,082,744.
Issued capital: 6,082,744.
Issued/paid-up
capital was last increased on Sep 20, 2010.
Nominal capital is
divided into: 760,343 shares of 8 each and fully paid-up.
Konstantinos
Vitouladitis holds 55.93% of
the voting capital.
Vassiliki
Dimitriou holds
12.36% of the voting capital.
Dimitrios
Angeletopoulos holds 5.20% of
the voting capital.
Haralambos
Meletiou holds 5.14% of
the voting capital.
Foteini Vitouladitou
holds 4.51% of the
voting capital.
Alexandros Katevas
holds 4.02% of the
voting capital.
George Kollios holds 3.47% of the
voting capital.
Angelos Katsinis holds 3.44% of the voting
capital.
Angeliki
Antonopoulou holds 3.44% of
the voting capital.
Panagiotis Soultos
holds 2.18% of the
voting capital.
Lida Vitouladitou holds 0.14% of the voting
capital.
Danai Vitouladitou
holds 0.14% of the
voting capital.
Subject has 1
branches/divisions:
2 El. Venizelou,
55133, Kalamaria, Greece. These are rented.
Premises Size: 70 square metres.
Local Activity
Code:
1722
Local Activity
Code Type: STAKOD
Equivalent to: NACE 1
Manufactures
sanitary paper products
Manufactures
pharmaceutical preparations
Mfg of personal
hygiene and care products
Subject produces
the following brand(s):
BABY CARE
BABYGO
BABYLINO
CLEA
DAIPERS
EVERY DAY
MEGA
POM PON
SANI
SCHOOL HANKIES
SNEEZY
TIPERS
WET HANKIES
Imports 82% from Austria, Belgium, China, Finland, France, Germany,
Israel, Italy, Luxembourg, Netherlands, Pakistan, Sweden, Switzerland, Turkey,
U K, U S A.
Normal importing terms are open account.
Exports 32% to Albania, Bulgaria, Cyprus, Denmark, Ethiopia, Former
Yugoslav Rep of Macedonia, France, Georgia, Germany, Iran, Italy, South Korea,
Libya, Malta, Mexico, Montserrat, New Zealand, Nigeria, Portugal, Qatar,
Romania, Russian Fed, Serbia and Montenegro, Sudan, Sweden, U A E, U K,
U S A, Zambia.
Normal exporting terms are open account
EMPLOYS: 356 as at Jun 6, 2014 including 0 part-time staff.
The number of employees varies according to needs.
The number of employees peaks to 356.
Operates from owned factory, covering approximately 22,100 square metres
at heading address.
The site covers approximately 43,590 square metres.
REGISTERED OFFICE: At heading address.
|
Fiscal Fiscal Fiscal |
|
|
|
Dec
31,2011 Dec 31,2012 Dec 31,2013 |
|
|
|
Turnover 76,769,222 83,431,363 92,015,628 |
|
|
|
Pre-Tax
Profit
1,407,140 4,197,202 3,641,936 |
|
|
|
Net Worth 20,794,568 22,446,247 22,868,136 |
|
|
|
Fixed Assets 19,318,883 17,847,628 17,358,717 |
|
|
|
Total Assets 58,453,368 53,967,132 58,067,931 |
|
|
|
Current
Assets 38,546,193 35,516,977 39,781,897 |
|
|
|
Current
Liabilities
33,845,093 27,960,965 27,421,711 |
|
|
|
Working
Capital
4,701,100 7,556,012 12,360,186 |
|
|
|
Long Term
Debt
3,813,706 3,559,920 7,778,084 |
|
|
|
Financial
Assets
112,219 102,300 152,016 |
|
|
|
Intangibles 476,074 500,228 775,301 |
|
|
|
Employees 265 280 290 |
|
|
|
Net Worth and
Total Assets are tangible figures shown after the deduction of |
|
|
|
intangible
assets. |
|
|
|
RATIOS
|
|
|
|
Dec
31,2011 Dec 31,2012 Dec 31,2013 |
|
|
|
Current Ratio
(X) 1.14 1.27 1.45 |
|
|
|
Solvency Ratio
(%) 181.10 140.43 153.93 |
|
|
|
Fixed Assets/Net
Worth (%) 92.90 79.51 75.91 |
|
|
|
Current Liabs/Net
Worth (%) 162.76 124.57 119.91 |
|
|
|
Asset Turnover
(%) 131.33 154.60 158.46 |
|
|
|
Sales / Net
Working Cap (X) 16.33 11.04 7.44 |
|
|
|
Assets / Sales
(%) 76.14 64.68 63.11 |
|
|
|
Profit Margin
(%) 1.83 5.03 3.96 |
|
|
|
S/holders Return
(%) 6.77 18.70 15.93 |
|
|
|
Return On Assets
(%) 2.41 7.78 6.27 |
|
|
|
Sales / Employees 289,695.18 297,969.15 317,295.27 |
|
|
|
Profit /
Employees
5,309.96 14,990.01 12,558.40 |
|
|
|
|
|
|
|
Abstract from individual fiscal balance sheet
as at Dec 31, 2013 |
|
|
|
LIABILITIES ASSETS |
|
|
|
Capital 6,082,744 Land/Buildings 26,692,391 |
|
|
|
Retained
Profits 6,777,461 Plant/Machinery 16,232,586 |
|
|
|
Misc
Reserves 10,007,931 Depreciation 25,566,260 |
|
|
|
Net Worth 22,868,136 Total Fixed Ass 17,358,717 |
|
|
|
Misc Provisions 127,094 Misc Fin'cl Ass 152,016 |
|
|
|
Misc Def
Liabs 7,650,989 Total Fin'cl Ass 152,016 |
|
|
|
Misc
Intangible 775,301 |
|
|
|
Total Intangible
775,301 |
|
|
|
CURRENT LIABILITIES: CURRENT ASSETS: |
|
|
|
Trade
Creditors 14,048,251 Stock
9,642,885 |
|
|
|
Short term
Loans 9,137,886 Trade Debtors 25,216,404 |
|
|
|
Proposed
Dividends 1,267,238 Misc Debtors 1,989,024 |
|
|
|
Misc Current
Liabs 2,968,335 Cash 2,753,987 |
|
|
|
Market Securities
179,595 |
|
|
|
TOTAL
CURRENT 27,421,710 TOTAL CURRENT 39,781,895 |
|
|
|
TOTAL LIABS &
NW 58,067,929 TOTAL ASSETS 58,067,929 |
|
|
|
Profit & Loss Account from Jan
1, 2013 to Dec 31, 2013 |
|
|
|
Net Sales 92,015,628 |
|
|
|
Cost of Goods Sold 59,856,432 |
|
|
|
Gross Profit 32,159,196 |
|
|
|
Misc Operating Charges 27,777,037 |
|
|
|
Misc Operating Income 207,635 |
|
|
|
Net Operating Income 4,589,794 |
|
|
|
Misc Financial Income 294,133 |
|
|
|
Total Financial Income 294,133 |
|
|
|
Interest Payable 997,664 |
|
|
|
Misc Financial Expenses 244,327 |
|
|
|
Total Financial Expenses 1,241,991 |
|
|
|
Profit Before Taxes 3,641,936 |
|
|
|
Income Tax 1,056,882 |
|
|
|
Profit After Tax 2,585,054 |
|
|
|
Net Profit 2,585,054 |
|
|
|
Dividends 2,112,064 |
|
|
|
Retained Earnings at End -2,112,064 |
|
|
|
|
|
|
|
|
|
|
|
According to the balance sheet as of Dec
31, 2013. |
|
|
|
|
|
|
|
The below mentioned financial figures
are in Euro |
|
|
|
|
|
|
|
Financial statement obtained from
subject on Jun 2, 2014. |
Established in Athens
(22 Odissou Str.), in 1980. In 1984 subject moved its head office at 12 Davaki
& 18 Mylopotamou, Athens, (Gov. Gaz No.: 1384/1984) while on 1.1.94 its
head office was transferred again to
Kifissia, at 33
Avgis (Gov. Gaz. No.: 303/94).
Finally, on 18.04.2001
subject moved its head office to the above mentioned. On 23/5/2001 (Gov. Gaz.
No. 02920/2001) a change of subject's head office was published. On 7/1/2003
(Gov. Gaz. No. 00077/2003) the company's name was changed.
On 21/12/2011
(Gov. Gaz. No. 13451/2011) the company's trading style was changed.
Please note that
the information provided in this report was obtained from official sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
|
|
1 |
Rs.102.33 |
|
Euro |
1 |
Rs.82.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.