1. Summary Information

		Country	India
Company Name	AJANTA LEATHER FASHIONS PRIVATE LIMITED	Principal Name 1	Mr. Talat Ahmed
Status	Moderate	Principal Name 2	Mr. Manish Chandani
		Registration #	21-030448
Street Address	19A, Jawaharlal Nehru Road, Suit No E 1, 3rd Floor, Kolkata – 700087 West Bengal, India
Established Date	28.02.1976	SIC Code	--
Telephone#	91-33-22495272 / 22495635 / 22495639	Business Style 1	Manufacturer
Fax #	91-33-22493108	Business Style 2	Exporter
Homepage	http://www.ajantaleather.com	Product Name 1	Exquisite Leather Bags
# of employees	Not Available	Product Name 2	Briefcases and Small Leather Goods
Paid up capital	Rs.24,000,000 /-	Product Name 3	--
Shareholders	Directors or relatives of Directors – 100%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	36 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ca (18)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	151,272,000	Current Liabilities	100,820,000
Inventories	121,801,000	Long-term Liabilities	162,957,000
Fixed Assets	173,915,000	Other Liabilities	2,107,000
Deferred Assets	715,000	Total Liabilities	265,884,000
Invest& other Assets	712,000	Retained Earnings	134,031,000
		Net Worth	182,531,000
Total Assets	448,415,000	Total Liab. & Equity	448,415,000
Total Assets (Previous Year)	306,567,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	183,783,000	Net Profit	(17,062,000)
Sales(Previous yr)	233,378,000	Net Profit(Prev.yr)	(9,853,000)

MIRA INFORM REPORT

Report Date :

14.08.2012

IDENTIFICATION DETAILS

Name :	AJANTA LEATHER FASHIONS PRIVATE LIMITED
Registered Office :	19A, Jawaharlal Nehru Road, Suit No E 1, 3rd Floor, Kolkata – 700087 West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.02.1976
Com. Reg. No.:	21-030448
Capital Investment / Paid-up Capital :	Rs.24.000 Millions
CIN No.: [Company Identification No.]	U19129WB1976PTC030448
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of exquisite leather bags, briefcases and small leather goods
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (18)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears huge losses recorded by the company. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can ne considered for business dealing on a secured trade terms and condition.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
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 = D
Rating Explanation	This rating are in default or are expected to be in default soon
Date	30.03.2011

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 31-03-2012.

LOCATIONS

Registered Office / Head Office 1 / Show Room :	19A, Jawaharlal Nehru Road, Suit No E 1, 3rd Floor, Kolkata – 700087 West Bengal, India
Tel. No.:	91-33-22495272 / 22495635 / 22495639
Fax No.:	91-33-22493108
E-Mail :	info@ajantaleather.com ajanta@giascl01.vsnl.net.in
Website :	http://www.ajantaleather.com
Head Office 2 / Factory and Export Division:	PO Rajarhat Gopalpur, Kolkata – 700136, West Bengal, India
Tel. No.:	91-33-25732423 / 25733444
Fax No.:	91-33-25738565 / 25738574
E-Mail :	ajantaleather@vsnl.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Talat Ahmed

Designation :

Whole-Time Director

Address :

8j, Embassy Appartmnts, 4 Shakespeare Sarani, Kolkata – 700071, West Bengal, India

Date of Birth/Age :

26.02.1961

Date of Appointment :

27.06.2002

DIN No.:

00212520

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	U63040WB1983PTC036687	TRAVEL HOUSE PRIVATE LIMITED	Director	20/08/1983	20/08/1983	-	Active	NO
2	U72200WB1996PTC078801	EVER BRIGHT COMPUTERS PRIVATE LIMITED	Director	29/03/1996	29/03/1996	-	Active	NO
3	U19129WB1976PTC030448	AJANTA LEATHER FASHIONS PRIVATE LIMITED	Whole-time director	27/06/2002	27/06/2002	-	Active	NO
4	U55101WB2002PTC095448	A P FINE DINING PRIVATE LIMITED	Director	29/11/2002	29/11/2002	-	Active	NO
5	U45201WB2003PTC097120	KOHINOOR CULTIVATIONS PRIVATE LIMITED	Director	15/10/2003	15/10/2003	-	Active	NO
6	U45201WB2003PTC097122	BOBO BRIX PRIVATE LIMITED	Director	16/10/2003	16/10/2003	-	Active	NO
7	U34102WB2003PTC096996	BENGAL CARS PRIVATE LIMITED	Director	9/12/2003	9/12/2003	-	Active	NO
8	U70101WB2003PTC096965	LOTUS VALLEY PRIVATE LIMITED	Director	9/12/2003	9/12/2003	-	Active	NO
9	U45201WB2003PTC097113	CHERRY NIRMAN PRIVATE LIMITED	Director	9/12/2003	9/12/2003	-	Active	NO
10	U20211WB1985PTC038770	HAZEL COMMERCIAL PRIVATE LIMITED	Director	31/12/2004	31/12/2004	-	Active	NO
11	U51109WB1994PTC066696	MATSAY TRADELINK PRIVATE LIMITED	Director	16/02/2005	16/02/2005	-	Active	NO
12	U18101WB2006PTC111306	MANTRA LIFESTYLE ACCESSORIES PRIVATE LIMITED	Director	1/9/2006	1/9/2006	5/8/2010	Active	NO
13	U17120WB2006PTC111960	PHP GLASS AND POLY FABRICS PRIVATE LIMITED	Director	29/11/2006	29/11/2006	-	Active	NO
14	U45201WB1996PTC080328	IDEAL PLAZA SERVICES PRIVATE LIMITED	Director	23/09/2008	12/12/2007	-	Active	NO
15	U18101WB2008PTC121430	SAPNAS FASHION STUDIO PRIVATE LIMITED	Director	4/1/2008	4/1/2008	-	Active	NO
16	U85300WB1909GAP001932	THE SATURDAY CLUB LIMITED	Director	29/09/2011	29/09/2011	-	Active	NO

Name :

Mr. Manish Chandani

Designation :

Managing Director

Address :

9A, Metro Towers, 1Ho Chi Minh Sarani, Kolkata – 700016, West Bengal, India

Date of Birth/Age :

27.11.1975

Date of Appointment :

28.02.2008

DIN No.:

00213618

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	U18101WB2006PTC111306	MANTRA LIFESTYLE ACCESSORIES PRIVATE LIMITED	Managing director	1/9/2006	1/9/2006	5/8/2010	Active	NO
2	U19129WB1976PTC030448	AJANTA LEATHER FASHIONS PRIVATE LIMITED	Managing director	28/02/2008	24/01/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Geeta Chandani	3000
Chandni Chandani	250
Manish Chandani	4250
Ahmed Furrokh	10000
Danny Chandani	4500
Sanjana Ahmed	1000
Sapna Ahmed	1000
Total	24000

As on 09.12.2011

Names of Allottee	No. of Shares Allotted
Kanika Goods Private Limited, India	6000
Total	6000

As on 17.01.2012

Names of Allottee	No. of Shares Allotted
Kanika Goods Private Limited, India	6000
Total	6000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of exquisite leather bags, briefcases and small leather goods

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Actual Production
Leather Bags, Wallets and Belts	Pcs	314235

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Commercial Branch, Salt Lake, Plot No. X-1, 8/1, Block-Ep, Kolkata – 700091, West Bengal, India

· Canara Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
From Canara Bank: Foreign Bill Purchase (LC bill - Rs 1.314 Millions and Non LC Bill - Rs.40.193 Millions)	41.507	24.555
Packing Credit Loan (Secured by way of hypothecation of inventories, EMT of Company’s Land and Building, colleteral securities offered to bank and personal guarantee of directors)	67.528	64.495
Working Capital Term Loan (Secured by way of hypothecation of inventories. Equitable mortgage of Land and Building, coIleteral securities offered to bank and personal guarantee of directors)	49.347	76.200
Loan against Fixed Deposit	3.628	13.576
From Citicorp Maruti Finance Limited: Hire Purchase Loan (Secured by hypothecation of vehicles purchased under Hire Purchase Schemes)	0.036	0.136
From HDFC Bank Limited: Hire Purchase Loan (Secured by hypothecation of vehicles purchased under Hire Purchase Schemes)	0.680	0.832
Total	162.726	179.794
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Short Term: From bodies corporate (Including Interest due theron)	0.231	0.230
Total	0.231	0.230

Banking Relations :	--
Auditors :
Name :	R.C. Jhawer and Company Chartered Accountants
Address :	7A, Bentinck Street, 2nd Floor, Room No.202, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22430113
Mobile No.:	91-9830220544
E-Mail :	rcjhawer@rediffmail.com
PAN.:	ACOPJ2261N

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital : Rs.36.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.30.667 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
24000	Equity Shares	Rs.1000/- each	Rs.24.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
24000	Equity Shares	Rs.1000/- each	Rs.24.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		24.000	24.000	24.000
2] Share Application Money		24.500	0.000	0.000
3] Reserves & Surplus		134.031	13.468	23.587
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		182.531	37.468	47.587
LOAN FUNDS
1] Secured Loans		162.726	179.794	156.773
2] Unsecured Loans		0.231	0.230	6.513
TOTAL BORROWING		162.957	180.024	163.286
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		345.488	217.492	210.873
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		173.915	38.918	39.829
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.712	0.712	0.712
DEFERREX TAX ASSETS		0.715	2.110	0.483
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	121.801	95.551	55.115
	Sundry Debtors	54.350	45.010	24.939
	Cash & Bank Balances	11.308	27.287	28.959
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	85.614	96.979	111.222
Total Current Assets		273.073	264.827	220.235
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	37.572	19.790	19.717
	Other Current Liabilities	63.248	67.206	24.703
	Provisions	2.107	2.079	5.966
Total Current Liabilities		102.927	89.075	50.386
Net Current Assets		170.146	175.752	169.849
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		345.488	217.492	210.873

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	183.783	233.378	174.021
		Other Income	24.562	27.809	24.016
		TOTAL (A)	208.345	261.187	198.037
Less	EXPENSES
		Raw Materials Consumed and Finished Good	110.192	123.432	86.083
		Employee Cost	11.299	12.177	10.312
		Manufacturing, Selling and Administrative Expenses	83.507	114.387	84.313
		Excess provision of Duty Drawback in previous years Witten back	0.000	0.010	0.000
		Prior period Income / (Expenses)	0.367	0.062	(0.024)
		TOTAL (B)	205.365	250.068	180.684
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.980	11.119	17.353
Less	FINANCIAL EXPENSES (D)		15.992	19.532	13.223
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(13.012)	(8.413)	4.130
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.627	2.853	3.175
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(15.639)	(11.266)	0.955
Less	TAX (H)		1.423	1.413	0.802
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(17.062)	(9.853)	0.153
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.071)	9.782	9.629
	BALANCE / (LOSS) CARRIED TO THE B/S		(17.133)	(0.071)	9.782
	EARNINGS IN FOREIGN CURRENCY
		Realisation form Export of Leather Goods	175.957	207.115	192.330
	TOTAL EARNINGS		175.957	207.115	192.330
	IMPORTS
		Raw Materials and Stores	7.186	12.490	17.789
		Plant and Machinery	0.000	0.000	0.800
	TOTAL IMPORTS		7.186	12.490	18.589
	Earnings / (Loss) Per Share (Rs.)		(710.90)	(410.56)	6.36

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(8.19)	(3.77)	0.08
Net Profit Margin (PBT/Sales)	(%)	(8.51)	(4.83)	0.01
Return on Total Assets (PBT/Total Assets}	(%)	(3.50)	(3.71)	0.55
Return on Investment (ROI) (PBT/Networth)		(0.09)	(0.30)	0.02
Debt Equity Ratio (Total Liability/Networth)		1.46	7.18	4.49
Current Ratio (Current Asset/Current Liability)		2.65	2.97	4.37

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
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

REVIEW OF BUSINBSS:

The year shows that the company's performance has marginally declined during the 35th year of operation. It's income has decreased from Rs.261.187 Millions to Rs 208.345 Millions during the year 2010-11 However during the year 2011-12 the company promises to perform better.

OPERATIONS:

During the 35^th year the gross income of the company decreased by 25.40% over the previous year for which it incurred a loss of Rs 15.639 Millions. Lower than expected sales , on the basis of which the infrastructure was built up ,was mainly responsible for eroding the margin so radically However high value orders with " improved realization are being executed during the year. The company is therefore hopeful of achieving higher sales and higher profit during 2011-12

CONTINGENT LIABILITIES

Rs. In Millions

Particular	31.03.211	31.03.2010
Claims not acknowledged by the company relating to the following areas: Excise Duty	0.910	0.910
Bank Guarantees given to WBSEB	0.641	0.641

Fixed Assets

· Freehold Land

· Buildings

· Plant and Machinery

· Generator and Other Equipments

· Furniture and Office Equipments

· Computer and Peripherals

· Vehicles

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 records 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.55.42
UK Pound	1	Rs.86.78
Euro	1	Rs.68.03

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		18

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.