MIRA
INFORM REPORT
|
Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
MALATI FOUNDERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Malati Bunglow, Plot No. 2, Rajendra Nagar, Kolhapur-416004,
Maharashtra |
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|
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
28.12.1995 |
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Com. Reg. No.: |
11-095692 |
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|
Capital Investment
/ Paid-up Capital : |
Rs.3.727
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U27101PN1995PTC095692 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPM01528C |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Auto Casting and Agro Products Castings. |
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No. of Employees
: |
250 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 110000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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.
INFORMATION PARTED BY
|
Name : |
Mr. Subhash K. |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-230-2366227 |
|
Date : |
06.03.2012 |
LOCATIONS
|
Registered Office : |
Malati Bunglow, Plot No. 2, Rajendra Nagar, Kolhapur-416004,
Maharashtra, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 25 to 29, Sector ‘A’ Phase 1st, Shri Laxmi
Industrial Estate, Hatanangale, Kolhapur-416100, Maharashtra, India |
|
Tel No.: |
91-230-2366148/2366149 |
|
Fax No.: |
91-230-2366227/2366236/2366149 |
DIRECTORS
As on 11.08.2011
|
Name : |
Mr. Sambhajirao Krishna Patil |
|
Designation : |
Chairman and Whole Time Director |
|
Address : |
555/2/1, Plot No. 2, E Ward, Malati Bangala, Gulmohar Colony, Rajendra
Nagar Road, Kolhapur-416004, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1939 |
|
Date of Appointment : |
31.03.2004 |
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Din No.: |
00314355 |
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|
|
|
Name : |
Mr. Sanjay Sambhajirao Patil |
|
Designation : |
Managing Director |
|
Address : |
555/2/1, Plot No. 2, E Ward, Malati Bangala, Gulmohar Colony, Rajendra
Nagar Road, Kolhapur-416004, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1966 |
|
Date of Appointment : |
31.03.2004 |
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Din No.: |
00751710 |
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|
|
|
Name : |
Mr. Yuvraj Sambhajirao Patil |
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Designation : |
Technical Director |
|
Address : |
555/2/1, Plot No. 2, E Ward, Malati Bangala, Gulmohar Colony, Rajendra
Nagar Road, Kolhapur-416004, Maharashtra, India |
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Date of Birth/Age : |
02.07.1972 |
|
Date of Appointment : |
31.03.2004 |
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Din No.: |
00751674 |
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|
|
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Name : |
Mr. Atul Sambhajirao Patil |
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Designation : |
Director |
|
Address : |
555/2/1, Plot No. 2, E Ward, Malati Bangala, Gulmohar Colony, Rajendra
Nagar Road, Kolhapur-416004, Maharashtra, India |
|
Date of Birth/Age : |
11.08.1974 |
|
Date of Appointment : |
31.03.2004 |
|
Din No.: |
00751631 |
KEY EXECUTIVES
|
Name : |
Mr. Subhash K. |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sambhajirao Krishna Patil |
|
113010 |
|
Sanjay Sambhajirao Patil |
|
230670 |
|
Yuvraj Sambhajirao Patil |
|
8460 |
|
Atul Sambhajirao Patil |
|
20510 |
|
|
|
|
|
Total |
|
372650 |
As on 08.02.2012
|
Names of Allottees |
|
No. of Shares |
|
Sambhajirao Krishna Patil |
|
37500 |
|
Sanjay Sambhajirao Patil |
|
37500 |
|
Yuvraj Sambhajirao Patil |
|
37500 |
|
Atul Sambhajirao Patil |
|
37500 |
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|
|
|
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Total |
|
150000 |
As on 11.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Auto Casting and Agro Products Castings. |
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Terms : |
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Selling : |
L/C / Cash and Credit |
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Purchasing : |
L/C / Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2010]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production [Qty/KG] |
|
C.I. Castings |
MT |
4200 |
2169166 |
GENERAL INFORMATION
|
Customers : |
Others [Manufacturer Company] ·
Mahindra and Mahindra Limited ·
KSB Pumps Limited |
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No. of Employees : |
250 [Approximately] |
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Bankers : |
State Bank of India, MIDC Shiroli Branch, Kolhapur-416122,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
D.S. Patil and Company Chartered Accountants |
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Address : |
111/A/1 O-4, Royal Courts, Panch Bunglow, Kolhapur-416001,
Maharashtra, India |
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Pan No.: |
ABMPP1224E |
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|
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Associates/Subsidiaries : |
·
Malati Enterprises ·
SKP Industries |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
372650 |
Equity Shares |
Rs.10/- each |
Rs.3.727
Millions |
After 11.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500
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 |
3.727 |
3.727 |
3.727 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24.510 |
14.278 |
10.104 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
28.237 |
18.005 |
13.831 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
48.381 |
24.793 |
13.325 |
|
|
2] Unsecured Loans |
2.287 |
2.287 |
2.287 |
|
|
TOTAL BORROWING |
50.668 |
27.080 |
15.612 |
|
|
DEFERRED TAX LIABILITIES |
5.339 |
3.592 |
2.262 |
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|
|
|
|
|
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TOTAL |
84.244 |
48.677 |
31.705 |
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|
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|
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APPLICATION OF FUNDS |
|
|
|
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|
|
|
|
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FIXED ASSETS [Net Block] |
37.722 |
20.021 |
12.983 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
13.658 |
9.195 |
7.796 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.565
|
12.148 |
8.984 |
|
|
Sundry Debtors |
52.884
|
35.369 |
16.015 |
|
|
Cash & Bank Balances |
0.502
|
0.053 |
0.191 |
|
|
Other Current Assets |
3.536
|
3.993 |
2.699 |
|
|
Loans & Advances |
2.313
|
0.091 |
0.012 |
|
Total
Current Assets |
76.800
|
51.654 |
27.901 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
27.851 |
13.330 |
|
|
Other Current Liabilities and Provisions |
43.954
|
|
3.670 |
|
Total
Current Liabilities |
43.954
|
32.213 |
17.000 |
|
|
Net Current Assets |
32.846
|
19.441 |
10.901 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.018 |
0.020 |
0.025 |
|
|
|
|
|
|
|
|
TOTAL |
84.244 |
48.677 |
31.705 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
300.103 |
175.944 |
|
|
|
|
Other Income |
1.314 |
0.917 |
|
|
|
|
TOTAL |
301.417 |
176.861 |
146.004 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
286.288 |
168.703 |
140.704 |
|
|
|
Advertising Expenses |
|
|
|
|
|
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TOTAL |
286.288 |
168.703 |
140.704 |
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
13.913 |
7.381 |
5.436 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.829 |
1.877 |
1.567 |
|
|
|
|
|
|
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|
PROFIT AFTER TAX
|
10.084 |
5.504 |
3.869 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.084 |
5.504 |
3.869 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.06 |
19.81 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.35
|
3.11 |
2.65 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.64
|
4.20 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.15
|
10.30 |
13.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.49
|
0.41 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.35
|
3.29 |
2.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.60 |
1.64 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
NA |
27.851 |
13.330 |
PARTIAL DETAILS OF SUNDRY CREDITORS
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Goyal Iron and
Steel (Nagpur) Private Limited |
|
0.524 |
|
|
Furnace Feeders |
|
0.102 |
|
|
Federal Mogul
Bearing India Limited |
|
0.386 |
|
|
Enpro Enterprises
|
|
0.113 |
|
|
Dhan Laxmi
Enterprises |
NA |
0.106 |
NA |
|
Bhagyashree
Enteprises |
|
0.166 |
|
|
Ashapura
International Limited |
|
0.161 |
|
|
Kohinoor Metallic
|
|
2.236 |
|
|
Krishna
Engineering Works |
|
0.153 |
|
|
Kesare Electrical
|
|
0.068 |
|
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
|
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 |
No |
|
13) Reasons for variation <> 20% |
No |
|
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 |
Yes |
|
19) Payments terms |
Yes |
|
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 |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
PERFORMANCE:
The Principles and the Policies of the Company have duly made their mark onto the Company's Growth Rate.
The expert strategies adopted by us in
the cut-throat competition have aided to
make a notable performance for the company.
As per the Statistical Data, the performance of the Company during this year was increased
compared to previous year. During the year the Company
has achieved a turnover of Rs. 300.103 millions and previous year was Rs.
175.944 millions.
The turnover has increased significantly
due to which profit has considerably
increased.
As measure to compete with these dynamic, the trained human resources have been duly focused upon SO as to increase the
overall performance of the
company. The cost incurred for this is
duly been met with in proportion
to the available funds. Although the cost of production has remained
at an increasing rate, the Directors have
taken the eminent steps to curtail the unwanted costs being incurred to
cope up with the former.
PROSPECTUS FOR THE CURRENT YEAR:
It's indeed a good year to come with a
notable growth prospects for the
Company as far as the stiff competition is concerned in the foundry market, Our Directors have put forth
their best policies which are serving
as a guiding tool for the
company.
The sudden hike in the
rates of raw material has been duly acknowledged and further noted with regards
to the increase in the profits for the current year.
FINANCE:
The Financial position of the
Company was satisfactory during
the year. The Goodwill and the Creditability of the Company in the Market have proved as a major source to make available the funds within no-time.
Along with the various facilities provided by the Banks, the Company now
is trying to increase its reserves for the different contingencies under
consideration. The Accounts Department is well-oriented with day-to-day market conditions and is executing its responsibilities efficiently.
FUTURE PLAN OF THE COMPANY:
During the year production capacity has
been increased, for that Banker
State Bank of India has extended
co-operation.
INDUSTRIAL RELATIONS:
The Company enjoyed harmonious relations with all workers and staff members during the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90090600 |
|
Corporate
identity number of the company |
U27101PN1995PTC095692 |
|
Name of the
company |
MALATI FOUNDERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Malati Bunglow, Plot No. 2, Rajendra Nagar, Kolhapur-416004,
Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] |
|
Particular of
charge holder |
State Bank of India, MIDC Shiroli Branch, Kolhapur-416122,
Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Loan-cum-Hypothecation. |
|
Date of instrument
Creating the charge |
04.02.2012 |
|
Amount secured by
the charge |
Rs.36.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest At 6.50% margin above
Base Rate (Base rate = 10% w.e.f. 13.08.2011) Effective rate 16.50% p.a. Terms of
Repayment Repayable on
Demand. Margin Raw Material -
Imported -: 25% Semi-Finished
Goods - : 33% Finished Goods -
: 33% Domestic
Receivable (cover period 50 Days -: 40% Extent and
Operation of the charge Other Terms and
Conditions as per Agreement. |
|
Short particulars
of the property charged |
Hypothecation of
Stock of Raw Material, Finished goods, WIP, stores and spares, packing material
at Unit No. 1- Plot No. 25 To 29, Phase - I, Sector-A, Laxmi Industrial
Estate, Hatkanangale, Kolhapur. And Unit No.
2-House No. 181, Kalyan Shrma Market. Hingana road, MIDC Nagpur-400016. their
factory premises or at some other place including goods in transit,
outstanding, moneys, book debts, receivables |
|
Particulars of
the present modification |
Present Cash
Credit Limit is increased From Rs. 30.000 Millions to Rs. 36.000 Millions.
(Net increase of Rs. 6.000 Millions) |
FIXED ASSETS:
·
Leasehold Land
·
Factory Building
·
Plant and Machinery
·
Electrical Fittings
·
Office Equipments
·
Computer
·
Furniture and Fixtures
·
Mobile
·
Air Conditioner
·
Sand Plant
·
Motor Cycle
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.50.03 |
|
|
1 |
Rs.79.32 |
|
Euro |
1 |
Rs.66.02 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
|
45 |
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.