|
Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
LEX ORBIS CONSULTING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
709/710, Tolstoy House, 15-17, Tolstoy Marg,, New Delhi-110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.09.2003 |
|
|
|
|
Com. Reg. No.: |
55-122380 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.100
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140DL2003PTC122380 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELL02668B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL0049A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Patent Filing Prosecution and Maintenance Service. |
|
|
|
|
No. of Employees
: |
40 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Manisha Singh Nair |
|
Designation : |
Director |
|
Contact No.: |
91-9811161518 |
|
Date : |
22.02.2012 |
LOCATIONS
|
Registered Office : |
709/710, Tolstoy House, 15-17, Tolstoy Marg,, New Delhi-110001, India |
|
Tel. No.: |
91-11-23716565 |
|
Mobile No.: |
91-9811161518 [Ms. Manisha Singh Nair] |
|
Fax No.: |
91-11-23716556 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1926 sq. ft |
|
Location : |
Rented |
DIRECTORS
|
Name : |
Mr. Manoj Vasudevan Nair |
|
Designation : |
Director |
|
Address : |
65, Qutab View Apartments, Katwaria Sarai, New Delhi-110016, India |
|
Date of Birth/Age : |
31.05.1971 |
|
Qualification : |
LLM [Patent Agent] |
|
Experience : |
18 Years |
|
|
|
|
Name : |
Ms. Manisha Singh Nair |
|
Designation : |
Director |
|
Address : |
65, Qutab View Apartments, Katwaria Sarai, New Delhi-110016, India |
|
Date of Birth/Age : |
18.09.1971 |
|
Qualification : |
MA, LLB [Patent Agent] |
|
Experience : |
14 Years |
|
|
|
|
Name : |
Mr. Ramesh Babu M.R. |
|
Designation : |
Director |
|
Address : |
304, Supreme Enclave, Mayur Vihar, Phase I, New Delhi-110091, India |
|
Date of Birth/Age : |
31.05.1959 |
|
Qualification : |
LLB |
|
Experience : |
27 Years |
|
|
|
|
Name : |
Dr. Sushil Kumar |
|
Designation : |
Director |
|
Address : |
House No. 100, 1st Floor, Bhai Parmanand Colony, New
Delhi-110009, India |
|
Date of Birth/Age : |
02.09.1972 |
|
Qualification : |
PHD [Bio-Chemistry] [Patent Agent] |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Mr. Srinjoy Banerjee |
|
Designation : |
Director |
|
Address : |
B-61, Sector 49, Noida-201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
18.04.1976 |
|
Qualification : |
LLB [Patent Agent] |
|
Experience : |
11 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
BUSINESS DETAILS
|
Line of Business : |
Providing Patent Filing Prosecution and Maintenance Service. |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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No. of Employees : |
40 [Approximately] |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
|
Bankers : |
·
Standard Chartered Bank, 10, Sansad Marg, New
Delhi-110001, India ·
ICICI Bank |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.K. Nair and Company Chartered Accountants |
|
Address : |
C-192, Sarvodaya Enclave, New Delhi-110017, India |
|
Tel. No.: |
91-11-2652899/26510296 |
|
E-Mail : |
|
|
|
|
|
Associates: |
·
Lex Orbis [Partnership Firm] Address: 709/710, Tolstoy House, 15-17,
Tolstoy Marg, New Delhi-110001, India Line of Business: Legal Service ·
Clairvolex Knowledge Process Private Limited Address: 3rd Floor, NDIIT Building,
105 Mor Pocket, Kalkaji Extension, New Delhi-110019, India Line of Business: Knowledge Process
Outsourcing ·
Agnus Holdings Private Limited ·
Patsys Consulting Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
39.594 |
33.031 |
25.286 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
39.694 |
33.131 |
25.386 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.574 |
15.721 |
2.143 |
|
|
2] Unsecured Loans |
23.900 |
22.500 |
22.500 |
|
|
TOTAL BORROWING |
38.474 |
38.221 |
24.643 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.282 |
0.141 |
|
|
|
|
|
|
|
|
TOTAL |
78.168 |
71.634 |
50.170 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
26.586 |
28.593 |
4.792 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
40.494 |
39.302 |
38.452 |
|
|
DEFERREX TAX ASSETS |
0.021 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
34.732
|
19.767 |
21.784 |
|
|
Cash & Bank Balances |
3.666
|
4.277 |
5.393 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
27.887
|
20.977 |
16.928 |
|
Total
Current Assets |
66.285
|
45.021 |
44.105 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.416
|
17.674 |
19.015 |
|
|
Other Current Liabilities |
8.604
|
6.194 |
3.847 |
|
|
Provisions |
20.198
|
17.414 |
14.317 |
|
Total
Current Liabilities |
55.218
|
41.282 |
37.179 |
|
|
Net Current Assets |
11.067
|
3.739 |
6.926 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
78.168 |
71.634 |
50.170 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Professional Receipts |
153.412 |
146.676 |
134.320 |
|
|
|
Profit From Partnership Firm |
1.193 |
0.849 |
0.416 |
|
|
|
Rent Received From Flat No. 69 |
0.234 |
0.070 |
0.000 |
|
|
|
Forex Gain |
0.000 |
0.000 |
1.109 |
|
|
|
TOTAL |
154.839 |
147.595 |
135.845 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Professional and Legal Fee |
100.139 |
89.302 |
85.095 |
|
|
|
Office and Administrative Cost |
43.402 |
45.172 |
34.315 |
|
|
|
TOTAL |
143.541 |
134.474 |
119.410 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.298 |
13.121 |
16.435 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.253 |
2.138 |
0.715 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.045 |
10.983 |
15.720 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.482 |
3.238 |
5.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6.563 |
7.745 |
10.055 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
33.031 |
25.286 |
15.231 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
39.594 |
33.031 |
25.286 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Professional Receipts |
100.080 |
125.675 |
97.157 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
656.28 |
774.51 |
1005.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.23
|
5.25 |
7.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.84
|
7.44 |
11.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.74
|
14.92 |
32.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.33 |
0.62 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.36
|
2.40 |
2.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.09 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
PROFILE:
Subject IP Practice is a well-credentialed Indian IP
boutique. Among the top-tier in the IP prosecution space in India, the Firm has
over 65 personnel with its principal office based in New Delhi. In relation to
global and regional filing programs, the attorneys and paralegals at the Firm
are supported by a 120 member off-site support team comprising of
well-experienced paralegals and admins, resulting in combined man-power
strength of over 185 personnel. Founded by five legal professionals in 1997 as
a partnership firm, the firm has grown exponentially in less than a decade,
with a strong base of well-credentialed legal and technical professionals
offering high quality services in all areas of Intellectual Property Rights
Laws and acts for a number of world’s leading IP owner corporations.
ORGANISATIONAL
STRUCTURE
Subject is a full service IP firm with partners and associates specializing
in various practice areas within IP- Patents, Trademarks, Designs, Copyrights,
Geographical Indications, IP Transactions and IP Enforcement. In addition, the
Firm has a research team namely the Group on Research, Publication and Programs
(GRPP) that comprises of mostly personnel with Masters in IP Law (LL. M)
providing research
Administrative Department of the firm acts at the core of the
organizational structure ensuring seamless functioning of and across departments.
The Administration is also responsible for docket management, IT
infrastructure, communication management and accounts.
The Firm handles cumulatively many thousands of patent and trademarks,
and design applications (including national, convention and PCT applications).
This includes multiple global filing programs that the Firm handles on behalf
of Indian clients covering most of the WTO Member countries.
Patents Department
The Firm’s patent prosecution practice group is a unique blend of legal
and technical professional which include Ph. D and Masters qualified patent
attorneys who are competent to do original case writing, apart from prosecuting
applications in India, at the EPO and the USPTO, apart from overseeing PCT
filings.
Trademarks
Department
The Firms’ Trademarks department handles filings and prosecution in
India and globally including national and convention applications and have
handled multiple trademark contentious matters before the Trademarks Registry,
Appellate Board, District Courts, High Courts and the Supreme Court of India.
The Trademarks Department is divided into the ‘Trademarks Filing Group’ and the
‘Trademark Prosecution Group’. The clientele is spread across the globe with
major concentration in India, US, Europe, and Southeast Asia.
Design and
Copyright Department
The Firms’ Design and Copyright department handles filings and
prosecution in India and globally. As on date, the Firm has filed designs in
over 169 countries globally. The firm has also prosecuted matters before the
various appellate bodies against infringers of the Design. The clientele is
spread across the globe with major concentration in India, US, Europe, and
Southeast Asia. The firm has also filed and successfully defended cases
Copyright before the Copyright Board and the Courts.
IP Enforcement
Department
The Firms’ IP Enforcement department comprises of some well-known names
in the IP litigation space. The firm’s litigators handle contentious matters
including strategizing and managing IP infringement actions before the District
Court and High Courts, revocation/cancellation proceedings and appeals before
the Intellectual Property Appellate Board, settlement negotiations, investigations,
raids, rendering infringement opinions and all aspects of enforcement.
Maintenance
Department
The Firm acts for multiple large annuity companies as their Indian arm.
The Firm’s maintenance department manages over 4000 patent annuities and over 3500
trademark renewals every year. This department consists of personnel
specialized in annuity management.
KEY
DIFFERENTIATORS
·
An IP law firm that has pioneered multidisciplinary
patent practice in India, through a synergistic combination of legal, science
and technology experts.
·
Professional partnership with well-defined business
continuity management.
·
Atypical in using a sophisticated docket
management/document retention tool such as the Dennemeyer Intellectual Asset
Management Software (DIAMS).
·
Cost effective and timely services without any
comprise on quality.
·
Equipped to meet client specific requirements
including orientation by dedicated attorneys for individual clients.
·
Proven track record of taking over large volumes of
pending patent/trade mark applications and integrating them with Subject
Service Standards.
The firm
essentially follows a common service standard with the following:-
·
Quality Control: With a strict 3 level
quality control mechanism, quality is non-negotiable at Subject. Regular
training and supervision ensures proper quality of the reported deliverables.
Quality is maintained by, 3-tier quality control process, Client Feedback,
External process audits and Regular training and mentoring.
·
Quality Evaluation and Feedback
process: The feedback received by us is analyzed carefully and put to use in
fixing any gaps in the existing process or optimizing the overall process.
·
Delivery Timelines: Turn-around-time
for each type of services is clearly articulated and followed while delivering
the same. Their standard turn-around time for responding to each client
communication is 24 hours from the receipt of client’s email.
·
Prioritization of Work: In general,
deliverables are completed in the order in which they are received – First In,
First Out. Subject may re-order the reviews based on resource availability.
This prioritization, so long as it falls within the overall TAT does not
require Client’s prior approval.
·
Confidential Information: Subject
obligates itself and agrees under the SLA that the Confidential Information is
Client’s sole and exclusive property. Subject agrees to hold Client’s
Confidential Information in confidence. They take all reasonable steps to
ensure that Confidential Information is not disclosed or distributed by Subject
or its professionals/employees in violation of the provisions of the
Confidentiality Agreement that they execute with the client. Subject also
agrees to not make use of the Confidential Information or any part thereof
other than for the purpose ordered by Client.
·
Human Resource: Subject discloses the
complete credentials of the professionals that work on the client matters to the
client. They also provide a single point contact to all their clients to ensure
seamless and effective communication.
·
Business Continuity Management (BCM):
Subject has in place a well-structured BCM program. They follow effective and
efficient methodology in maintaining the Business Continuity Plans on a regular
basis. BCDR is designed, validated and implemented to assist in cost
effectively automate and streamline backups and rapid movement of servers,
storage, and applications the business up and running under all conditions.
·
Invoicing and Payment methods: Once
agreed, their rates are applicable for the period of 12 months from the date of
signing the service level agreement subject any mutually agreed period in
specific cases. Subject submits its invoices as soon as the service/assignment
is concluded. The payment method preferred by us is wire transfer, however,
they accept bank cheques too.
·
Return of Materials: Upon termination
of this the SLA signed between client and Subject, each party shall promptly
return to the other all data, materials and other property of the other held by
it.
FIXED ASSETS:
·
Building Flat
·
Car
·
Computer
·
Furniture and Fixtures
·
Office Equipments
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.49.25 |
|
|
1 |
Rs.76.75 |
|
Euro |
1 |
Rs.65.16 |
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 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.