|
Report Date : |
23.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
PAREKH MARKETING
LIMITED |
|
|
|
|
Registered
Office : |
Mafatlal House, 2nd
Floor, Backbay Reclamation, Mumbai – 400020, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.11.1949 |
|
|
|
|
Com. Reg. No.: |
11-007858 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24114MH1949PLC007858 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP14928E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in
Chemicals and Adhesives. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. It is
Pidilite / Parekh Group of
Companies who is the brand owners of Fevicol. Financially company performance
seems to be good. Trade relations are reported to be fair. Business is
active. Payments are reported to be regular and as per commitments. The company can
be considered good for normal business dealings ate 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.
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.
INFORMATION DENIED BY
|
Name : |
Mr. Babu |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-22044889 |
|
Date : |
22.08.2012 |
LOCATIONS
|
Registered Office : |
Mafatlal House, 2nd
Floor, Backbay Reclamation, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22044889 |
|
Fax No.: |
91-22-22043827 |
|
E-Mail : |
DIRECTORS
As on: 20.09.2011
|
Name : |
Mr. Balvantray Kalyanji Parekh |
|
Designation : |
Chairman and Whole Time Director |
|
Address : |
15, Usha Kiran, 15, M.L. Dahanukar Marg, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
12.03.1924 |
|
Date of Appointment : |
31.03.1975 |
|
Voter ID No.: |
MT/04/024/273216 |
|
DIN No.: |
00035229 |
|
|
|
|
Name : |
Mr. Himatlal Kalyanji Parekh |
|
Designation : |
Whole Time Director |
|
Address : |
Mahavir, Block No. 11, Derasar Lane, Ghatkopar, Mumbai – 400077,
Maharashtra, India |
|
Date of Birth/Age : |
24.11.1926 |
|
Date of Appointment : |
09.03.1993 |
|
Voter ID No.: |
MT/04/050/0021277 |
|
DIN No.: |
00036533 |
|
|
|
|
Name : |
Mr. Sushilkumar Kalyanji Parekh |
|
Designation : |
Whole Time Director |
|
Address : |
6C, Woodlands 67, Pedder Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
02.01.1933 |
|
Date of Appointment : |
02.12.1974 |
|
Voter ID No.: |
MT/04/024/258103 |
|
DIN No.: |
00036265 |
|
|
|
|
Name : |
Mr. Mukund Panchand Mody |
|
Designation : |
Director |
|
Address : |
41, Raj Ratan Place, 4th Floor, Shankar Lane, Kandivali,
Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
17.07.1929 |
|
Date of Appointment : |
20.12.1994 |
|
DIN No.: |
00112243 |
|
|
|
|
Name : |
Mr. Ajay Kumar |
|
Designation : |
Director |
|
Address : |
E-154, Greater Kailash Part II, New Delhi – 110048, India |
|
Date of Birth/Age : |
16.09.1939 |
|
Date of Appointment : |
01.04.1998 |
|
DIN No.: |
00116229 |
|
|
|
|
Name : |
Mr. Santosh Kumar |
|
Designation : |
Director |
|
Address : |
Flat No.D1002, Salarpuria Serenity, HSR Layout, Sector 7, Bangalore –
560102, Karnataka, India |
|
Date of Birth/Age : |
05.01.1930 |
|
Date of Appointment : |
14.09.2010 |
|
Voter ID No.: |
MT/04/024/009470 |
|
DIN No.: |
00116274 |
KEY EXECUTIVES
|
Name : |
Mr. Babu |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 20.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Gaitonde Kishori Sharad |
|
23 |
|
Walavalkar Mangal Madhav |
|
245 |
|
Parekh Madhukar Balvantray Jointly with Parekh Mala Madhukar |
|
180 |
|
Parekh Ajay Balvantray Jointly with Parekh Ami Ajay |
|
168 |
|
Parekh Sushilkumar Kalyanji Jointly with Parekh Mrudula Sushilkumar |
|
192 |
|
Parekh Narendrakumar Kalyanji Jointly with Parekh Bharati Narendrakumar |
|
192 |
|
Pidichem Private Limited, India |
|
69 |
|
Parkem Dyes and Chemicals Private Limited, India |
|
72 |
|
Parekh Ajay Balvantray Jointly with Parekh Madhukar Balvantray |
|
1 |
|
Parekh Mala Madhukar Jointly with Parekh Madhukar Balvantray |
|
161 |
|
Parekh Himatlal Kalyanji Jointly with Parekh Gulab Himatlal |
|
41 |
|
Parekh Gulab Himatlal Jointly with Parekh Himatlal Kalyanji |
|
1 |
|
Parekh Rashmikant Himatlal Jointly with Parekh Kamalini Rashmikant |
|
21 |
|
Parekh Kamalini Rashmikant Jointly with Parekh Rashmikant Himatlal |
|
1 |
|
Parekh Harish Himatlal Jointly with Parekh Himatlal Kalyanji |
|
1 |
|
Parekh Bharati Narendrakumar Jointly with Parekh Narendrakumar Kalyanji |
|
31 |
|
Parekh Kanta Balvantray Jointly with Parekh Balvantray Kalyanji |
|
36 |
|
Walavalkar Shashikumar Vasant |
|
12 |
|
Parekh Ajay Balvantray Jointly with Parekh Ami Ajay |
|
103 |
|
Parekh Madhukar Balvantray Jointly with Parekh Mala Madhukar |
|
200 |
|
Parekh Ami Ajay Jointly with Parekh Ajay Balvantray |
|
50 |
|
Parekh Sanket Sushilkumar Jointly with Parekh Sushilkumar Kalyanji |
|
22 |
|
Parekh Narendrakumar Kalyanji Jointly with Parekh Bharati Narendrakumar |
|
27 |
|
Parekh Balvantray Kalyanji Jointly with Parekh Kanta Balvantray |
|
150 |
|
Parekh Madhukar Balvantray Jointly with Parekh Kalpana Apurva |
|
1 |
|
|
|
|
|
Total |
|
2000 |
Equity Share Break up (Percentage of Total Equity)
As on: 20.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
7.05 |
|
Directors or relatives of directors |
|
78.95 |
|
Other top fifty shareholders |
|
14.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in
Chemicals and Adhesives. |
|||||||||
|
|
|
|||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D.A. Kothari and Company Chartered Accountants |
|
Address : |
106, Himalaya House, 79 Palton Road, Mumbai – 400001, Maharashtra,
India |
|
PAN No.: |
AAEPK1603P |
|
|
|
|
Significant
Influence : |
Pidilite Industries Limited |
|
|
|
|
Whollyowned Subsidiary : |
Sarla Technologies USA, Inc |
|
|
|
|
Whollyowned
Subsidiary of Synapse Technologies Inc : |
Wizdom Control Inc |
|
|
|
|
Subsidiary
Company : |
Sarla Technologies Middle East - LLC |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.1000/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000 |
Equity Shares |
Rs.1000/- each |
Rs.2.000
Millions |
|
|
|
|
|
Note:
(Of the above shares 497 Equity Shares are allotted as fully paid for consideration other than cash)
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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
271.649 |
259.317 |
257.083 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
273.649 |
261.317 |
259.083 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
16.740 |
18.500 |
23.000 |
|
|
|
|
|
|
|
|
TOTAL |
290.389 |
279.817 |
282.083 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
96.586 |
102.744 |
107.438 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
1.088 |
|
|
|
|
|
|
|
|
INVESTMENT |
105.047 |
102.522 |
101.418 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.305
|
7.208 |
10.642 |
|
|
Sundry Debtors |
185.621
|
160.956 |
168.887 |
|
|
Cash & Bank Balances |
14.410
|
26.836 |
28.524 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
35.398
|
44.060 |
35.518 |
|
Total
Current Assets |
241.734
|
239.060 |
243.571 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
125.457
|
144.141 |
149.674 |
|
|
Other Current Liabilities |
25.955
|
18.265 |
16.565 |
|
|
Provisions |
1.566
|
2.103 |
5.193 |
|
Total
Current Liabilities |
152.978
|
164.509 |
171.432 |
|
|
Net Current Assets |
88.756
|
74.551 |
72.139 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
290.389 |
279.817 |
282.083 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
740.920 |
632.863 |
706.780 |
|
|
|
Other Income |
8.176 |
8.487 |
9.932 |
|
|
|
TOTAL |
749.096 |
641.350 |
716.712 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
529.044 |
471.752 |
473.134 |
|
|
|
Salaries, Wages and Benefits to Employees |
106.594 |
87.939 |
98.251 |
|
|
|
Other Expenses |
95.087 |
79.344 |
105.917 |
|
|
|
Provision for Diminution in valuation of investment |
0.000 |
0.000 |
2.159 |
|
|
|
TOTAL |
730.725 |
639.035 |
679.461 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
18.371 |
2.315 |
37.251 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.851 |
8.509 |
8.692 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
10.520 |
(6.194) |
28.559 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.600) |
(4.461) |
10.189 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
12.120 |
(1.733) |
18.370 |
|
|
|
|
|
|
|
|
|
Add |
Adjustment pertaining
to earlier years |
0.000 |
0.002 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
Prior Year Tax
adjustments |
0.211 |
3.965 |
1.242 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
141.576 |
139.342 |
125.080 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
-- |
1.840 |
|
|
|
Proposed Dividend |
NA |
-- |
3.000 |
|
|
|
Tax on Dividend |
NA |
-- |
0.510 |
|
|
BALANCE CARRIED
TO THE B/S |
153.907 |
141.576 |
139.342 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from Software Services |
143.934 |
132.070 |
203.753 |
|
|
TOTAL EARNINGS |
143.934 |
132.070 |
203.753 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
6060.00 |
(866.00) |
9185.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.62 |
(0.27) |
2.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.42 |
(0.98) |
4.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.11 |
(1.81) |
7.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.02 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.56 |
0.63 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.45 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Due of Creditors other than small scale Industrial undertakings |
125.457
|
144.141 |
149.674 |
|
|
|
|
|
|
Total |
125.457
|
144.141 |
149.674 |
|
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 |
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 |
No |
|
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 |
Yes |
|
34] |
External Agency Rating, if available |
No |
FIXED ASSETS:
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records 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.55.51 |
|
|
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.69.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
49 |
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.