MIRA INFORM REPORT

Report No. :	306375
Report Date :	13.02.2015

IDENTIFICATION DETAILS

Name :	NIMIT STEELS AND ALLOYS PRIVATE LIMITED
Registered Office :	Kailash Esplanade, C-417A, 4th Floor, LBS Marg, Opposite Shreyas Talkes, Ghatkopar, Mumbai – 400086, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.04.2003
Com. Reg. No.:	11-139994
Capital Investment / Paid-up Capital :	Rs. 55.376 Millions
CIN No.: [Company Identification No.]	U27100MH2003PTC139994
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMN10447D
PAN No.: [Permanent Account No.]	AABCN7969D
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Iron and Steel Products Wire, Rods, Round Bras, Billets, Bloom and Structure.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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. The rating reflects the extensive experience of NSAPL’S promoter in the steel trading industry supported by sound financial base and fair liquidity profile of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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: BB+
Rating Explanation	Inadequate credit quality and high credit risk.
Date	13.06.2014

Rating Agency Name	CRISIL
Rating	Short term rating: A4+
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	13.06.2014

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 :	Mr. Vikas Goenka
Designation :	Account Officer
Contact No.:	91-22-42465406
Date :	04.02.2015

LOCATIONS

Registered Office :	Kailash Esplanade, C-417A, 4th Floor, LBS Marg, Opposite Shreyas Talkes, Ghatkopar, Mumbai – 400086, Maharashtra, India
Tel. No.:	91-22-30915889 / 91-22-42465401
Mobile No”	91-9004669600 (Akhay H Bhansali)
Fax No.:	91-22-25005441
E-Mail :	nsapl@hotmail.com
Corporate Office :	D-225, Swstik Disa Corporate Park, LBS Road, Opposite Shreyas Cinema, Ghatkopar (West), Mumbai-400086, Maharashtra, India
Godown 1 :	Located At: Dahisar, Mumbai
Godown 2 :	Plot No.572, Kalamboli Warehousingh Complex, Navi Mumbai – 410218, Maharashtra, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Haresh Pragji Bhansali

Designation :

Director

Address :

702, Siddhi Apartment Tilak Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

04.10.1955

Date of Appointment :

23.03.2010

PAN No.:

AAAHB2403C

DIN No.:

00222412

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	U27100MH1998PTC115519	Hetal Steels Private Limited	Director	26/06/1998	26/06/1998	-	Active	NO
2	U27100MH1996PTC102672	VEENAMIT STEEL PROCESSORS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Amalgamated	NO
3	U27100MH2003PTC139994	NIMIT STEELS AND ALLOYS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO

Name :

Mr. Akshay Haresh Bhansali

Designation :

Director

Address :

702, Siddhi Apartment Tilak Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

20.06.1979

Date of Appointment :

23.03.2010

PAN No.:

AABPB9035H

DIN No.:

01864287

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	U27100MH1996PTC102672	VEENAMIT STEEL PROCESSORS PRIVATE LIMITED	Director	19/09/1996	19/09/1996	-	Amalgamated	NO
2	U27100MH1998PTC115519	Hetal Steels Private Limited	Director	23/03/2010	23/03/2010	-	Active	NO
3	U27100MH2003PTC139994	NIMIT STEELS AND ALLOYS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
4	U74140GJ2014PTC081621	Mount Wire Industries Private Limited	Director	22/12/2014	22/12/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vikas Goenka
Designation :	Account Officer

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Bhansali Akshay Hetal	904410
Haresh Pragaji Bhansali (HUF)	441450
Akshay Haresh Bhansali (HUF)	441450
Bhansali Haresh Akshay	441450
Bhansali Akshay Meru	882932
Bhansali Pragati Haresh	527470
Bhansali Haresh Rajeshwari	441450
Mehta Jayantkumar Milan	441450
Mehta Vakatchand Jayantkumar	85468
Jagdhara Dealcomm Private Limited, India	325000
Aadhar Ventures India Limited, India	175000
EMI Transmission Limited, India	430100
TOTAL	5537630

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	10.00
Directors or relatives of Directors	72.34
Other top fifty shareholders	17.66
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Iron and Steel Products Wire, Rods, Round Bras, Billets, Bloom and Structure.
Products :	· Iron and Steel Products Wire · Rods · Round Bras · Billets · Bloom and Structure
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	· Sudan · Gulf Country
Imports :
Products :	Raw Material
Countries :	China Ukraine Canada
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS: Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Mukund Limited, Thane
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 :

Reference :	Mica Industries Limited, Delhi
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 :

30 (Approximately)

Bankers :

Banker Name	Corporation Bank
Branch Address	Wadala Branch, India Printing House, 42, G. D. Ambekar Marg, Wadala (West), Mumbai - 400031, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	91-22-24103887
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

· Bank of India, Sakinaka Mid Corporate Branch, Sagar Tech Plaza, Andheri Kurla Road Sakinaka Jn. Andheri (East), Mumbai - 400072, Maharashtra, India

· Axis Bank Limited, 209, Atlanta, Ground Floor, Nariman Point, Mumbai-400021, Maharashtra, India

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

· ICICI Bank

· Standard Chartered Bank, SME Credit, 23-25 M G Road, Fort, Mumbai - 400001, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Loans taken for vehicle	0.577	0.091
Total	0.577	0.091

Auditors :
Name :	Vinod K Mehta and company Chartered Accountant
Address :	B/5, Satyam Shopping Centre, 2nd Floor, M G Road, Ghatkopar (East) Mumbai – 400077, Maharashtra, India
Tel. No.:	AADFV6947N
Memberships :	Not Available
Collaborators :	Not Available
Other Related Parties :	Hetal Steels Private Limited, India [U27100MH1998PTC115519]

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5537630	Equity Shares	Rs.10/- each	Rs. 55.376 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	55.376	55.376	50.000
(b) Reserves & Surplus	221.692	203.256	173.068
(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)	277.068	258.632	223.068
(3) Non-Current Liabilities
(a) long-term borrowings	182.180	107.463	146.870
(b) Deferred tax liabilities (Net)	4.252	4.114	4.125
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.525	0.532	0.332
Total Non-current Liabilities (3)	186.957	112.109	151.327
(4) Current Liabilities
(a) Short term borrowings	345.043	253.794	110.844
(b) Trade payables	1189.539	865.508	854.316
(c) Other current liabilities	0.000	3.255	2.989
(d) Short-term provisions	8.373	4.143	1.908
Total Current Liabilities (4)	1542.955	1126.700	970.057
TOTAL	2006.980	1497.441	1344.452
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	83.805	73.270	53.644
(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	9.603	7.493	0.007
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	4.928	10.904	5.538
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	98.336	91.667	59.189
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	503.463	410.077	388.518
(c) Trade receivables	1019.711	678.662	473.352
(d) Cash and cash equivalents	321.576	283.183	395.791
(e) Short-term loans and advances	63.530	33.396	27.520
(f) Other current assets	0.364	0.456	0.082
Total Current Assets	1908.644	1405.774	1285.263
TOTAL	2006.980	1497.441	1344.452

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income			1927.100
	Other Income			NA
	TOTAL	3581.013	2729.226	NA
Less	EXPENSES TOTAL	3552.739	2711.173	NA
	PROFIT/ (LOSS) BEFORE TAX	28.274	18.053	26.101
Less	TAX	9.839	7.489	8.952
	PROFIT/ (LOSS) AFTER TAX	18.435	10.564	17.149
	Earnings / (Loss) Per Share (Rs.)	3.33	1.91	3.10

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	NA	NA	0.89
Return on Total Assets (PBT/Total Assets}	(%)	1.42	1.21	1.94
Return on Investment (ROI) (PBT/Networth)		0.10	0.07	0.12
Debt Equity Ratio (Total Debt /Networth)		1.90	1.40	1.16
Current Ratio (Current Asset/Current Liability)		1.24	1.25	1.32

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	50.000	55.376	55.376
Reserves & Surplus	173.068	203.256	221.692
Net worth	223.068	258.632	277.068
long-term borrowings	146.870	107.463	182.180
Short term borrowings	110.844	253.794	345.043
Total borrowings	257.714	361.257	527.223
Debt/Equity ratio	1.155	1.397	1.903

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	2729.226	3581.013
		31.210

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	2729.226	3581.013
Profit	10.564	18.435
	0.39%	0.51%

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 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	Yes
18]	Major customers	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from related parties	54.127	74.008
Other loans and advances	127.476	33.364
SHORT TERM BORROWINGS
Working capital loans from banks	345.043	253.794
Total	526.646	361.166

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10535850	11/12/2014	30,000,000.00	BANK OF INDIA	SAKINAKA MID CORP BRANCH, SAGAR TECH PLAZA, ANDHERI-KURLA ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400072, INDIA	C36523611
2	10470378	13/12/2013	20,000,000.00	BANK OF INDIA	SAKINAKA MID CORPORATE BR., SAGAR TECH PLAZA "B",  ANDHERI-KURLA ROAD, ANDHERI (E), SAKINAKA, MUMBAI, MAHARASHTRA - 400072, INDIA	B93564649
3	10411178	22/02/2013	100,000,000.00	BANK OF INDIA	SAKINAKA MID CORPORATE BRANCH,SAGAR TECH PLAZA,  SAKINAKA JUNCTION, SAKINAKA, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400072, INDIA	B70581400
4	10356194	28/04/2012	75,000,000.00	BANK OF INDIA	SAKINAKA MID CORPORATE BR, SAGAR TECH PLAZA,, AND  HERI KURLA RD. SAKINAKA JN. ANDHERI (E), MUMBAI, MAHARASHTRA - 400072, INDIA	B39796685
5	10310763	01/08/2013 *	750,000,000.00	BANK OF INDIA	SAKINAKA MID CORPORATE BR., SAGAR TECH PLAZA, "B  ", ANDHERI-KURLA ROAD, ANDHERI (E), SAKINAKA, MUMBAI, MAHARASHTRA - 400072, INDIA	B83083675
6	10310765	01/08/2013 *	750,000,000.00	BANK OF INDIA	SAKINAKA MID CORPORATE BR., SAGAR TECH PLAZA,, "B  ", ANDHERI-KURLA ROAD, SAKINAKA, ANDHERI (E), MUMBAI, MAHARASHTRA - 400072, INDIA	B83084178
7	10212680	11/01/2014 *	570,000,000.00	CORPORATION BANK	WADALA BRANCH, INDIA PRINTING HOUSE, 42, G. D. A MBEKAR MARG, WADALA, MUMBAI, MAHARASHTRA - 400031, INDIA	B94908878

* Date of charge modification

FIXED ASSETS

· Land

· Buildings

· Factory building

· Plant and equipment

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

· Other equipments

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. 62.43
UK Pound	1	Rs. 95.02
Euro	1	Rs. 70.63

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAR
Report Prepared by :	TRU

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
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		43

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.