MIRA INFORM REPORT

Report No. :	315318
Report Date :	01.04.2015

IDENTIFICATION DETAILS

Name :	STERILE INDIA PRIVATE LIMITED (w.e.f. 07.07.2010)
Formerly Known As :	UNIWAYS LABORATORIES INDIA PRIVATE LIMITED
Registered Office :	910, 9^th Floor, D Mall, Netaji Subhash Palace, Pitampura, New Delhi – 110034
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	05.06.1989
Com. Reg. No.:	55-036517
Capital Investment / Paid-up Capital :	Rs. 82.687 Million
CIN No.: [Company Identification No.]	U74899DL1989PTC036517
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELU03892A
PAN No.: [Permanent Account No.]	AAACU5331M
Legal Form :	Private Limited Liability Company
Line of Business :	Company is engaged in the Business of Manufacturing of Sterile API products used for preparation of different kind of Injections and Life Saving Drugs
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 term rating = “BBB-“
Rating Explanation	Moderate degree of safety and carry moderate credit risk
Date	09.01.2015

Rating Agency Name	CRISIL
Rating	Short Term Rating = “A3”
Rating Explanation	Moderate degree of safety and carry higher credit risk.
Date	09.01.2015

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 31-03-2014.

INFORMATION PARTED BY

Name :	Ms. Garima Jain
Designation :	Finance Manager
Contact No.:	91-11-27357015
Date :	30.03.2015

LOCATIONS

Registered / Corporate Office:	910, 9^th Floor, D Mall, Netaji Subhash Palace, Pitampura, New Delhi – 110034, India
Tel. No.:	91-11-27357015/130-2116798
Fax No.:	91-11-27357015/130-2116799
E-Mail :	sales@sterileindia.com info@sterileindia.com sales@mahimalife.com
Website :	www.sterileindia.com
Location :	Owned
Factory :	Sector-56, HSIIDC Kundli, Plot No-100, Phase – IV, Sonepat – 131028, Haryana, India
Tel. No.:	91-130-2116798
Fax No.:	91-130-2116799

DIRECTORS

As on 30.09.2014

Name :

Mr. Sanjeev Goel

Designation :

Director

Address :

78/12, Jain Sthanak, Ganaur Mandi, Sonipat – 131001, Haryana, India

Date of Birth/Age :

12.02.1969

Date of Appointment :

04.06.2011

DIN No.:

00370189

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	U51397DL1997PTC084824	OSHO INTERNATIONAL PRIVATE LIMITED	Director	31/01/1997	31/01/1997	08/01/2008	Active	NO
2	U51311DL1996PTC083943	MAHIMA LIFESCIENCES PRIVATE LIMITED	Director	13/03/1997	13/03/1997	08/06/2011	Active	NO
3	U74899DL1989PTC036517	STERILE INDIA PRIVATE LIMITED	Director	04/06/2011	07/04/2007	-	Active	NO
4	U17121DL2007PTC168198	SHREE RADHEY KRISHNA SPINNERS PRIVATE LIMITED	Director	21/06/2010	21/06/2010	-	Active	NO
5	U51909WB2010PTC141866	FUSION VINTRADE PRIVATE LIMITED	Director	30/03/2011	30/03/2011	-	Active	NO
6	U51909WB2008PTC123294	ENCORD COMMERCIAL PRIVATE LIMITED	Director	21/07/2011	21/07/2011	10/12/2013	Active	NO
7	U51909WB2008PTC123277	VERSATILE VINIMAY PRIVATE LIMITED	Director	21/07/2011	21/07/2011	-	Active	NO
8	U72900HR2009PTC038947	SACH TECHNOLOGY PRIVATE LIMITED	Director	24/06/2013	24/06/2013	-	Active	NO
9	U52100DL2009PTC189939	AVENUE GEMS & JEWELS PRIVATE LIMITED	Director	24/06/2013	24/06/2013	-	Active	NO
10	U74900DL2013PTC260918	SINO PHARMA FORTRESS PRIVATE LIMITED	Director	26/11/2013	26/11/2013	-	Active	NO

Name :

Mr. Prem Chand Goel

Designation :

Director

Address :

B-37, Maharana Pratap Enclave, Pitampura, Delhi – 110034, India

Date of Birth/Age :

18.02.1944

Date of Appointment :

31.10.2009

DIN No.:

02822907

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	U74899DL1989PTC036517	STERILE INDIA PRIVATE LIMITED	Director	30/09/2010	31/10/2009	-	Active	NO
2	U51909WB2010PTC141866	FUSION VINTRADE PRIVATE LIMITED	Director	30/03/2011	30/03/2011	-	Active	NO
3	U51109DL2008PTC184847	REDHERRING SANITARYWARE PRIVATE LIMITED	Director	30/09/2011	19/07/2011	-	Active	NO
4	U32204DL2007PTC169768	GATIMAAN DEVELOPERS PRIVATE LIMITED	Director	29/09/2011	29/07/2011	-	Active	NO
5	U17296DL2007PTC166770	CHAUDHARY CLOTHING PRIVATE LIMITED	Director	03/08/2011	03/08/2011	-	Active	NO
6	U17121DL2007PTC166816	CHAUDHARY APPARELS PRIVATE LIMITED	Director	05/08/2011	05/08/2011	-	Active	NO
7	U51909WB2009PTC133355	CALENDULA DEALCOM PRIVATE LIMITED	Director	14/12/2011	14/12/2011	-	Active	NO
8	U51909WB2009PTC140359	LITTLESTAR VINTRADE PRIVATE LIMITED	Director	20/08/2012	20/08/2012	08/12/2013	Active	NO
9	U51909WB2009PTC140396	BLUESTAR DEALERS PRIVATE LIMITED	Director	24/01/2013	24/01/2013	-	Active	NO

Name :

Mrs. Rajni Goel

Designation :

Director

Address :

B-37, Maharana Pratap Enclave, Pitampura, Delhi – 110034, India

Date of Birth/Age :

21.08.1974

Date of Appointment :

10.06.2013

DIN No.:

06487666

KEY EXECUTIVES

Name :	Ms. Garima Jain
Designation :	Finance Manager

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Bluestar Dealer Private Limited, India	397603
Sanjeev Goel HUF	91603
Sanjeev Goel	179180
Calendula Dealcom Private Limited, India	6704
Versatile Vinimay Private Limited, India	2306
Mahima Life Sciences Private Limited, India	1531
KAvita Goel	637
Prem Chand Goel	461
Rajni Goel	106
Sevti Devi	145576
Sneha Lata	762
	406
Total	826875

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	49.36
Directors or relatives of Directors	50.64
Total	100.00

BUSINESS DETAILS

Line of Business :	Company is engaged in the Business of Manufacturing of Sterile API products used for preparation of different kind of Injections and Life Saving Drugs
Products :	· Sterile PPI’s Products · Cephalosporins · Penicillins · General Products · Carbapenems
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Indonesia Brazil Pakistan Bangladesh
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

End Users

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

200 (Approximately)

Bankers :

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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loan taken for fixed assets	2.960	1.416
SHORT TERM BORROWING
Working capital Loan from Banks	3.565	5.738
Total	6.525	7.154

Auditors :
Name :	Mittal Bansal and Associates Chartered Accountants
Address :	302-303, S-524, Aggarwal Complex, School Block, Vikas Marg, Shakarpur, New Delhi – 110092, India
Tel. No. :	91-11-65267355
E-Mail :	info@mittalbansal.com
PAN No.:	AALFM7202R
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Jubilant Organics Private Limited DIN NO. : U17121DL2007PTC168198

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2,500,000	Equity Shares	Rs.100/- each	Rs. 250.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
826,875	Equity Shares	Rs.100/- each	Rs. 82.687 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	82.688	1.692	0.102
(b) Reserves & Surplus	288.053	271.605	3.571
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	11.850	163.480
Total Shareholders’ Funds (1) + (2)	370.741	285.148	167.153
(3) Non-Current Liabilities
(a) long-term borrowings	2.960	1.416	0.000
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	2.960	1.416	0.000
(4) Current Liabilities
(a) Short term borrowings	4.268	5.738	0.000
(b) Trade payables	339.287	174.191	59.438
(c) Other current liabilities	21.702	13.813	1.856
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	365.257	193.742	61.294
TOTAL	738.958	480.306	228.447
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	97.893	99.328	108.315
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.543	0.000	0.000
(c) Deferred tax assets (net)	0.191	0.176	2.781
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.790	0.000	0.000
Total Non-Current Assets	100.417	99.504	111.096
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	60.975	36.215	29.033
(c) Trade receivables	420.131	272.223	53.525
(d) Cash and cash equivalents	104.189	7.703	22.091
(e) Short-term loans and advances	43.362	58.403	12.104
(f) Other current assets	9.884	6.258	0.598
Total Current Assets	638.541	380.802	117.351
TOTAL	738.958	480.306	228.447

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1380.000 (Approximately)	615.496	49.412
	Other Income	NA	8.665	2.844
	TOTAL (A)	NA	624.161	52.256
Less	EXPENSES
	Cost of Materials Consumed	NA	491.217	65.635
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	NA	(7.181)	(29.033)
	Employees benefits expense	NA	18.17	1.587
	Other expenses	NA	84.271	8.881
	TOTAL (B)	NA	586.477	47.070
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	NA	37.684	5.186
Less	FINANCIAL EXPENSES (D)	NA	1.65	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	NA	36.034	5.186
Less/ Add	DEPRECIATION/ AMORTISATION (F)	NA	12.225	4.082
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	NA	23.809	1.104
Less	TAX (I)	NA	8.766	-2.489
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	15.949	15.043	3.593
Less	APPROPRIATIONS
	Transfer to General Reserve	0.000	0.100	0.068
	Dividend	0.000	0.051	0.015
	Tax on Dividend	0.000	0.009	0.003
	Total (M)	0.000	0.160	0.086
	Balance Carried to the B/S (J+K+L-M)	15.949	14.883	3.507
	EARNINGS IN FOREIGN CURRENCY	41.375	11.373	0.000
	Earnings / (Loss) Per Share (Rs.)	19.29	898.32	3606.86

Expected Sales (2014-2015): Rs. 2000.000 Million

The above information has been parted by Ms. Garima Jain

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.16	2.44	7.27
Operating Profit Margin (PBDIT / Sales)	(%)	0.00	6.12	10.50
Return on Total Assets (PBT/Total Assets}	(%)	187.19	4.96	0.49
Return on Investment (ROI) (PBT/Networth)		3.72	0.08	0.01
Debt Equity Ratio (Total Debt /Networth)		0.02	0.03	0.00
Current Ratio (Current Asset/Current Liability)		1.75	1.97	1.91

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.102	1.692	82.688
Reserves & Surplus	3.571	271.605	288.053
Share application money pending allotment fund	163.480	11.850	0.000
Net worth	167.153	285.147	370.741
long-term borrowings	0.000	1.416	2.960
Short term borrowings	0.000	5.738	4.268
Total borrowings	0.000	7.154	7.228
Debt/Equity ratio	0.000	0.025	0.019

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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:

Registered office of the company has been shifted from 1705, 4^th Floor, Onkar Bhawan Bhagirath Palace, Chandni Chowk, Delhi – 110006, India to the present address w.e.f.13.02.2014

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and advances from related parties	0.703	0.000
Total	0.703	0.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10319944	05/01/2015 *	394,804,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	C41639014

* Date of charge modification

FIXED ASSETS

· Plant and Machinery

· Computer

· Furniture and Fixture

· Vehicle- Ecco

· BMW Car

· Fire Extinguisher

· Land

· Lab Equipments

· Printer

· Mobile Set

· Building

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 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.62.59
UK Pound	1	Rs.92.45
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.