MIRA
INFORM REPORT
|
Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SOCIETA' DI MACINAZIONE MOLINI CERTOSA -
SOCIETA' PER AZIONI |
|
|
|
|
Registered Office : |
Via Partigiani, 72 27012 -
Certosa di Pavia (PV) -IT- |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.11.1925 |
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|
Legal Form : |
Joint stock company |
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Line of Business : |
Manufacture of grain mill products |
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|
No. of Employees : |
from 26 to 35 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a
diversified industrial economy, which is divided into a developed industrial north,
dominated by private companies, and a less-developed, welfare-dependent,
agricultural south, with high unemployment. The Italian economy is driven in
large part by the manufacture of high-quality consumer goods produced by small
and medium-sized enterprises, many of them family owned. Italy also has a
sizable underground economy, which by some estimates accounts for as much as
17% of GDP. These activities are most common within the agriculture,
construction, and service sectors. Italy is the third-largest economy in the
euro-zone, but exceptionally high public debt burdens and structural
impediments to growth have rendered it vulnerable to scrutiny by financial
markets. Public debt has increased steadily since 2007, reaching 120% of GDP in
2011, and borrowing costs on sovereign government debt have risen to record
levels. During the second half of 2011 the government passed a series of three
austerity packages to balance its budget by 2013 and decrease its public debt
burden. These measures included a hike in the value-added tax, pension reforms,
and cuts to public administration. The government also faces pressure from
investors and European partners to address Italy's long-standing structural
impediments to growth, such as an inflexible labor market and widespread tax
evasion. The international financial crisis worsened conditions in Italy''s
labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but
in the longer-term Italy''s low fertility rate and quota-driven immigration
policies will increasingly strain its economy. The euro-zone crisis along with
Italian austerity measures have reduced exports and domestic demand, slowing
Italy''s recovery. Italy''s GDP is still 5% below its 2007 pre-crisis level.
|
Source : CIA |
Company name and address
SOCIETA' DI MACINAZIONE MOLINI CERTOSA - SOCIETA' PER AZIONI
Via Partigiani, 72
27012 -
Certosa di Pavia (PV) -IT-
Summary
|
Fiscal Code |
: |
00858730153 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
10/11/1925 |
|
Equity |
: |
1.500.000 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 26 to 35 |
Activity
Manufacture of grain mill products
Milling of other grains
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 00858730153 |
|
Foreign Trade Reg. no. : PV005880 since 31/12/1991 |
|
Foreign Trade Reg. no. : 5880 of since 31/12/1991 |
|
Chamber of Commerce no. : 169738 of |
|
Chamber of Commerce no. : 3971 of since 10/11/1925 |
|
Chamber of Commerce no. : 179602 of |
|
Firms' Register : PV110-5803 of since 19/02/1996 |
|
V.A.T. Code : 01116870187 |
|
Foundation date |
: 01/09/1989 |
|
Establishment date |
: 01/09/1889 |
|
Start of Activities |
: 10/11/1925 |
|
Legal duration |
: 31/12/2100 |
|
Nominal Capital |
: 1.244.073 |
|
Subscribed Capital |
: 1.244.073 |
|
Paid up Capital |
: 1.244.073 |
Members
|
|
Nervi |
Giuseppe |
|
|
|
Born in Palazzolo Vercellese |
(VC) |
on 26/08/1930 |
- Fiscal Code : NRVGPP30M26G266P |
|
|
|
Residence: |
|
Trento E Trieste |
, 44 |
- 13040 |
Palazzolo Vercellese |
(VC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
27/04/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Sempio |
Francesco Giovanni |
|
|
|
Born in Pavia |
(PV) |
on 31/03/1943 |
- Fiscal Code : SMPFNC43C31G388K |
|
|
|
Residence: |
|
Della Costituzione |
, 5 |
- 27035 |
Mede |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
14/03/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Lavecchia |
Sebastiano |
|
|
|
Born in Sperlinga |
(EN) |
on 02/09/1940 |
- Fiscal Code : LVCSST40P02I891C |
|
|
|
Residence: |
|
Gobetti |
, 12 |
- 27010 |
Borgarello |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney General |
10/06/1996 |
|
|
|
Director |
27/04/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Ferrario |
Riccardo Anselmo |
|
|
|
Born in Castiglione d'Adda |
(MI) |
on 17/03/1962 |
- Fiscal Code : FRRRCR62C17C304F |
|
|
|
Residence: |
|
Del Popolo |
, 12 |
- 26841 |
Casalpusterlengo |
(LO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
Companies
connected to members *
*checkings have been performed on a national scale.
In this module the companies in which members hold/held positions are
listed.
The Members of the subject firm are not reported to be Members in other
companies.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Accetti Paride |
Milano - IT - |
CCTPRD21C27F205W |
|
|
|
Enrico Mario |
Milano - IT - |
NCRMRA36S24L117X |
|
|
|
Enrico Mario |
Milano - IT - |
NRCMRA36S24L117X |
|
|
|
Abbondio Angelo |
Milano - IT - |
BBNNGL41T27F205W |
|
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|
Dondena Alberto |
Milano - IT - |
DNDLRT22H08F205B |
|
|
|
PICCOLE PARTECIPAZIONI S.P.A. |
|
03387960150 |
|
|
|
Cedis - Societa' Semplice |
Torino - IT - |
80111020014 |
|
|
|
Fabris Carlo |
Bovisio-masciago - IT - |
FBRCRL46H23E125Z |
|
|
|
Agazzi Bruno |
|
GZZBRN26L22L219P |
|
|
|
SIMONE GIAN LUIGI |
|
SMNGLG57R08L219P |
|
|
|
ZOLA PIER LUIGI |
|
ZLOPLG39R10G204M |
|
|
|
MICUCCI CECCHI FRANCO |
|
MCCFNC26D04E783L |
|
|
|
MOAR EMILIO |
|
MROMLE21B20D416Z |
|
|
|
Pelliccioni Grazia |
|
PLLGRZ36D56I142K |
|
|
|
Dallorso Giovanni |
|
DLLGNN68T25C621C |
|
|
|
Dallorso Marco |
|
DLLMRC70B27C621V |
|
|
|
Dallorso Guendalina |
|
DLLGDL67T55C621P |
|
|
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GAGLIARDO GIORGIO |
|
GGLGRG22E14G224P |
|
|
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BRECCIA GIUSEPPINA |
Milano - IT - |
BRCGPP46S57I907L |
|
|
|
ALOISIO PAOLO |
|
LSAPLA45A01G197L |
|
|
|
Euricom S.p.A. |
Valle Lomellina - IT - |
05897170154 |
1.243.948 .Eur |
99,99 |
|
CORICA GIUSEPPE |
Monza - IT - |
CRCGPP46A25F158H |
|
|
|
DOTT. ARDUIN GIOVANNI S.A.S. DI DANTE CA
RZANIGA E C. |
|
80023140157 |
|
|
|
Ponti Paolo |
|
PNTPLA50M16F205P |
125 .Eur |
|
|
G.l.m. Gestione Latine Immobiliare Sa |
|
|
|
|
Direct Participations
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
"immobiliare Nuova Sede - S.p.a." |
Pavia - IT - |
00265750182 |
258 .Eur |
0,06 |
|
|
Active |
|
Eurotransport S.r.l. |
Ferrera Erbognone - IT - |
00457040186 |
4.590 .Eur |
10,00 |
|
|
Active |
|
Riseria Carlo Pigino E Figlio - S.r.l. |
Palazzolo Vercellese - IT - |
00162330021 |
2.652 .Eur |
17,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Partigiani |
, 72 |
- 27012 |
- Certosa di Pavia |
(PV) |
- IT - |
|
|
|
|
PHONE |
: 0382933190 |
|
|
|
|
PHONE |
: 0382936011 |
|
|
|
|
FAX |
: 0382934901 |
|
- |
Branch |
(Factory) |
since 01/06/2007 |
|
|
|
|
|
|
Don Bozzuffi |
, 8 |
- 26010 |
- Corte De' Frati |
(CR) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 31/05/2010 |
|
|
|
|
|
|
Ingarfo |
, SNC |
- 89016 |
- Rizziconi |
(RC) |
- IT - |
|
|
|
|
Employees |
: 29 |
|
Fittings and Equipment for a value of 680.000 |
Eur |
|
Stocks for a value of 2.310.000 |
Eur |
The company sells in Italy and abroad.
|
|
The firm operates abroad as importer / exporter..
Export represents up to 20% of the global turnover.
Import comes generally from the following nations:
|
- Italy |
Export is mainly towards:
|
- |
|
- Europa |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Nervi |
Giuseppe |
|
|
|
Born in Palazzolo Vercellese |
(VC) |
on 26/08/1930 |
- Fiscal Code : NRVGPP30M26G266P |
|
|
|
Residence: |
|
Trento E Trieste |
, 44 |
- 13040 |
Palazzolo Vercellese |
(VC) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
|
Francese |
Mario |
|
|
|
Born in Vercelli |
(VC) |
on 30/08/1951 |
- Fiscal Code : FRNMRA51M30L750K |
|
|
|
Residence: |
|
San Martino |
, 6 |
- 13100 |
Vercelli |
(VC) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Dazza |
Oreste |
|
|
|
Born in Monza |
(MB) |
on 17/02/1943 |
- Fiscal Code : DZZRST43B17F704I |
|
|
|
Residence: |
|
Milano |
, 30 |
- 20052 |
Monza |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Taglioretti |
Marco |
|
|
|
Born in Milano |
(MI) |
on 12/01/1960 |
- Fiscal Code : TGLMRC60A12F205N |
|
|
|
Residence: |
|
C. Battisti |
, 2 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
Permanent Auditor |
|
|
Venegoni |
Fabio Maria |
|
|
|
Born in Magenta |
(MI) |
on 05/05/1963 |
- Fiscal Code : VNGFMR63E05E801L |
|
|
|
Residence: |
|
Cadorna Luigi |
, 6 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Sempio |
Francesco Giovanni |
|
|
|
Born in Pavia |
(PV) |
on 31/03/1943 |
- Fiscal Code : SMPFNC43C31G388K |
|
|
|
Residence: |
|
Della Costituzione |
, 5 |
- 27035 |
Mede |
(PV) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
|
Ferraro |
Luigi |
|
|
|
Born in Monza |
(MB) |
on 25/08/1937 |
- Fiscal Code : FRRLGU37M25F704G |
|
|
|
Residence: |
|
Dante |
, 14 |
- 20052 |
Monza |
(MB) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Lavecchia |
Sebastiano |
|
|
|
Born in Sperlinga |
(EN) |
on 02/09/1940 |
- Fiscal Code : LVCSST40P02I891C |
|
|
|
Residence: |
|
Gobetti |
, 12 |
- 27010 |
Borgarello |
(PV) |
- IT - |
|
Ex-Postions |
|
Director |
|
Managing Director |
|
|
Trovo' |
Cristiana |
|
|
|
Born in Novara |
(NO) |
on 16/05/1971 |
- Fiscal Code : TRVCST71E56F952B |
|
|
|
Residence: |
|
Cadorna Luigi |
, 6 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm absorbed by merging of |
|
|
|
|
Nuova Pasta Combattenti Kim S.p.A.
|
|
|
, 26010 |
, Corte De' Frati |
(CR) |
- IT - |
|
|
|
Date |
: |
23/12/1991 |
Protests
Protests checking on the subject firm has given a negative result.
Data Base Prejudicial Events
Search
Search performed on a National Scale
|
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
Legal Procedures
None reported, standing to the latest received edition of the Official
Publications.
Financial and Economical Analysis
The company is active since 1925
The analysis is based on the latest 3 balance sheets.
Unstable economic results mark the company's financial state of affairs.
anyway in 2011 a positive result was achieved (r.o.e. 30,59%). Upward trend as
to the turnover in the last financial year (+34,12%).
The operating result is negative.
The operating loss amounts to Eur. -1.610.859 .
The gross operating margin for the fiscal year 2011 is negative, for an
amount of Eur. -1.263.644.
Financial condition is not balanced as own capitals do not cover debts,
indebtedness level is in fact high (15,58) which is anyway decreasing.
With regard to equity capital, an amount of Eur. 1.440.609 is
registered. , increasing by 44,06% if compared to the financial year 2010.
Total debts recorded amounted to Eur. 27.071.471 (Eur. 4.222.878 of
which were m/l term debts) showing a stable trend as opposed to 2010 (Eur.
28.100.496).
Considerable bank indebtedness; on the other hand the recourse to
suppliers' credit is slightly high and higher than sector's average.
Liquidity is not excellent.
Trade credits are collected slowly, average term is 133,54 days. also in
relation to the average of the sector.
Eur. 787.842 is the value of cash flow during the year 2011
Labour cost expenses amount to Eur. 1.377.865 , representing 3,35% on
the total of production costs. , whereas the incidence on sales revenues is of
3,44%.
The financial charges are lower than the financial incomes.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
40.055.540 |
|
Profit (Loss) for the period |
440.627 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
29.865.078 |
|
Profit (Loss) for the period |
138.250 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
43.961.999 |
|
Profit (Loss) for the period |
-3.371.578 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
78.028.209 |
|
Profit (Loss) for the period |
-1.107.671 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
56.070.531 |
|
Profit (Loss) for the period |
-502.304 |
Balance Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet as
at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2009 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
BALANCE SHEET ACCOUNTS
PROFIT AND LOSS ACCOUNTS
|
|
RATIOS |
Value
Type |
as at 31/12/2011 |
as at 31/12/2010 |
as at 31/12/2009 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,30 |
0,30 |
0,19 |
0,33 |
|
Elasticity Ratio |
Units |
0,67 |
0,67 |
0,77 |
0,65 |
|
Availability of stock |
Units |
0,08 |
0,17 |
0,15 |
0,13 |
|
Total Liquidity Ratio |
Units |
0,59 |
0,50 |
0,62 |
0,47 |
|
Quick Ratio |
Units |
0,02 |
0,01 |
0,02 |
0,01 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
15,58 |
23,43 |
59,80 |
2,40 |
|
Self Financing Ratio |
Units |
0,05 |
0,03 |
0,01 |
0,23 |
|
Capital protection Ratio |
Units |
-0,17 |
-0,78 |
5,61 |
0,64 |
|
Liabilities consolidation quotient |
Units |
0,20 |
0,21 |
0,20 |
0,31 |
|
Financing |
Units |
18,79 |
28,10 |
71,76 |
2,99 |
|
Permanent Indebtedness Ratio |
Units |
0,21 |
0,20 |
0,17 |
0,43 |
|
M/L term Debts Ratio |
Units |
0,16 |
0,17 |
0,16 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
9,71 |
13,93 |
42,64 |
1,39 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,69 |
0,67 |
0,89 |
1,26 |
|
Current ratio |
Units |
0,86 |
0,85 |
0,94 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,76 |
0,63 |
0,76 |
0,94 |
|
Structure's primary quotient |
Units |
0,16 |
0,11 |
0,07 |
0,74 |
|
Treasury's primary quotient |
Units |
0,02 |
0,02 |
0,03 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
2022,64 |
2976,91 |
7421,17 |
441,38 |
|
Current Capital ( net ) |
Value |
-3.252.035 |
-3.630.880 |
-1.616.637 |
741.359 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,97 |
1,37 |
-7,26 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
30,59 |
13,83 |
-730,21 |
1,88 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
77,88 |
35,09 |
-809,30 |
6,77 |
|
Return on Investment ( R.O.I. ) |
% |
-5,53 |
3,70 |
-4,62 |
3,89 |
|
Return/ Sales |
% |
-4,02 |
3,69 |
-3,60 |
2,91 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
12,56 |
n.c. |
17,17 |
|
Cash Flow |
Value |
787.842 |
409.522 |
-3.192.102 |
197.397 |
|
Operating Profit |
Value |
-1.610.859 |
1.100.892 |
-1.582.089 |
275.911 |
|
Gross Operating Margin |
Value |
-1.263.644 |
1.372.164 |
-1.402.613 |
489.421 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
133,54 |
130,16 |
143,52 |
94,23 |
|
Debts to suppliers average term |
Days |
110,52 |
176,09 |
99,90 |
54,97 |
|
Average stock waiting period |
Days |
20,80 |
61,09 |
42,39 |
31,54 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,37 |
1,00 |
1,28 |
1,46 |
|
Rate of stock return |
Units |
17,31 |
5,89 |
8,49 |
11,40 |
|
Labour cost incidence |
% |
3,44 |
4,76 |
3,48 |
4,90 |
|
Net financial revenues/ charges incidence |
% |
10,11 |
-2,49 |
-2,32 |
-1,76 |
|
Labour cost on purchasing expenses |
% |
3,35 |
4,84 |
3,34 |
5,09 |
|
Short-term financing charges |
% |
2,63 |
2,69 |
3,19 |
3,82 |
|
Capital on hand |
% |
72,74 |
99,68 |
77,94 |
68,73 |
|
Sales pro employee |
Value |
1.381.225 |
933.283 |
1.292.999 |
750.576 |
|
Labour cost pro employee |
Value |
47.512 |
44.431 |
44.976 |
34.578 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
|
|
1 |
Rs.88.37 |
|
Euro |
1 |
Rs.71.47 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.