Millennium Investment & Acquisition Company Inc (MIAC), formerly Millennium India Acquisition Company Inc., is a closed-end, non-diversified investment company. The Company�s principal asset is its shareholding in SMC Group. In January 2008, the Company acquired a 14.75% equity interest in SMC Group. In March 2008, MIAC�s interest in SMC Group was reduced to 14.44% due to Bennett Coleman, & Co., an India-based financial media and investment firm investing in SMC Group. SMC Group is a financial firm based in India, and has businesses in equities and commodities brokerage, derivatives, international commodities, online trading, arbitrage, investment banking, investment advisory and research, depository and clearing services, distribution of mutual funds, initial public offerings (IPOs) and insurance products.