Millennium India Acquisition CO Inc. - Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2008 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Hound Partners, LLC	2. Issuer Name and Ticker or Trading Symbol Millennium India Acquisition CO Inc. [ MQC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                      __ X __ 10% Owner _____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle) 101 PARK AVENUE, 48TH FLOOR	3. Date of Earliest Transaction (MM/DD/YYYY) 1/3/2008
(Street) NEW YORK, NY 10178 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Warrant	$6	1/3/2008		P		12435		1/3/2008	7/19/2010	Common Stock	12435	$1.56	287180	I	By: Hound Partners, LP   (1)
Common Stock Warrant	$6	1/3/2008		P		12565		1/3/2008	7/19/2010	Common Stock	12565	$1.56	290193	I	By: Hound Partners Offshore Fund, LP   (2)
Common Stock Warrant	$6	1/4/2008		P		3233		1/4/2008	7/19/2010	Common Stock	3233	$1.5	290413	I	By: Hound Partners, LP   (1)
Common Stock Warrant	$6	1/4/2008		P		3267		1/4/2007	7/19/2010	Common Stock	3267	$1.5	293460	I	By: Hound Partners Offshore Fund, LP   (2)
Common Stock Warrant	$6	1/7/2008		P		16613		1/7/2008	7/19/2010	Common Stock	16613	$1.7	307026	I	By: Hound Partners, LP   (1)
Common Stock Warrant	$6	1/7/2008		P		16787		1/7/2008	7/19/2010	Common Stock	16787	$1.7	310247	I	By: Hound Partners Offshore Fund, LP   (2)
Common Stock Warrants	$6	1/7/2008		P		84759		1/7/2008	7/19/2008	Common Stock	84759	$1.62	391785	I	By: Hound Partners, LP   (1)
Common Stock Warrant	$6	1/7/2008		P		85641		1/7/2008	7/19/2008	Common Stock	85641	$1.62	395888	I	By: Hound Partners Offshore Fund, LP   (2)

Explanation of Responses:
( 1)	The securities may be deemed to be beneficially owned by (a) Hound Performance, LLC, the general partner of Hound Partners, LP; (b) Hound Partners, LLC, the investment manager of Hound Partners, LP and (c) Jonathan Auerbach, the managing member of Hound Performance, LLC and Hound Partners, LLC. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of his or its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
( 2)	The securities may be deemed to be beneficially owned by (a) Hound Performance, LLC, the general partner of Hound Partners Offshore Fund, LP; (b) Hound Partners, LLC, the investment manager of Hound Partners Offshore Fund, LP and (c) Jonathan Auerbach, the managing member of Hound Performance, LLC and Hound Partners, LLC. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of his or its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Hound Partners, LLC 101 PARK AVENUE 48TH FLOOR NEW YORK, NY 10178		X
Hound Performance, LLC 101 PARK AVENUE 48TH FLOOR NEW YORK, NY 10178		X
AUERBACH JONATHAN A G 215 E 73RD STREET NEW YORK, NY 10021		X

Signatures
Hound Partners, LLC, By: /s/ Jonathan Auerbach, Managing Member		1/7/2008
** Signature of Reporting Person		Date
Hound Performance, LLC, By: /s/ Jonathan Auerbach, Managing Member		1/7/2008
** Signature of Reporting Person		Date
By: /s/ Jonathan Auerbach, Managing Member		1/7/2008
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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