MIRA INFORM REPORT

Report Date :

10.10.2012

IDENTIFICATION DETAILS

Name :	POWERDEAL ENERGY SYSTEMS (INDIA) PRIVATE LIMITED
Registered Office :	F 29 MIDC, Satpur, Nasik 422007, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.09.2004
Com. Reg. No.:	11-148511
Capital Investment / Paid-up Capital :	Rs.259.320 Millions
CIN No.: [Company Identification No.]	U29300MH2004PTC148511
TAN No.: [Tax Deduction & Collection Account No.]	NSKP02609F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Galvanising Plant
No. of Employees :	100 Approximately

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 3100000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are 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. Latest Profit and Loss Account of the company is not Available.

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	LONG TERM BANK FACILITIES : CARE BBB
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation it carry moderate credit risk.
Date	April, 2012

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 :	F 29 MIDC, Satpur, Nasik 422007, Maharashtra, India
Tel. No.:	91-253-3048113 / 14 / 30
Fax No.:	Not Available
E-Mail :	powerdeal.nsk@gmail.com amitkochar_100@yahoo.co.in powerdeal@sify.com
Website:	www.powerdeal.net
Area :	5000 sq. ft.
Location :	Owned
Factory :	Survey No. 4/1, 4/2, 5/1+2+3/1, 6/2/1, Villoli, Mumbai Agra Road, Nashik 422010, Maharashtra, India
Tel. No.:	91-253-2336698 / 3026412
Fax No.:	91-253-2336699 / 3026333 / 444
Location :	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Mahesh Babanrao Khairnar
Designation :	Managing Director
Date of Birth/Age :	22.11.1975
Qualification :	Bachelor of Engineering
Date of Appointment :	10.09.2004
PAN No.:	AKJPK5647A
DIN No.:	00210547

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	Company/ LLP Status	Defaulting status
1	U29300MH2004PTC148511	POWERDEAL ENERGY SYSTEMS (INDIA) PRIVATE LIMITED	Managing director	10/09/2004	10/09/2004	Active	NO
2	U28900MH2006PTC160716	POWERDEAL HEAVY ENGINNERING PRIVATE LIMITED	Managing director	24/03/2006	24/03/2006	Amalgamated	NO
3	U85100MH2009NPL198006	INTERNATIONAL KNOWLEDGE FOUNDATION	Director	19/12/2009	19/12/2009	Active	NO
4	U11103MH2010PTC206617	POWERDEAL INFRA ENGERY AND NATURAL RESOURCES PRIVATE LIMITED	Director	14/08/2010	14/08/2010	Active	NO
5	U01403MH2011PTC221700	POWERDEAL AGROTECH PRIVATE LIMITED	Director	08/09/2011	08/09/2011	Active	NO

Name :	Mr. Yogesh Khairnar
Designation :	Director
Date of Birth/Age :	24.11.1977
Qualification :	Bachelor of Commerce
Date of Appointment :	10.09.2004
PAN No.:	AKJPK4704E
DIN No.:	00595339

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	Company/ LLP Status	Defaulting status
1	U29300MH2004PTC148511	POWERDEAL ENERGY SYSTEMS (INDIA) PRIVATE LIMITED	Director	10/09/2004	10/09/2004	Active	NO
2	U28900MH2006PTC160716	POWERDEAL HEAVY ENGINNERING PRIVATE LIMITED	Director	24/03/2006	24/03/2006	Amalgamated	NO
3	U85100MH2009NPL198006	INTERNATIONAL KNOWLEDGE FOUNDATION	Director	19/12/2009	19/12/2009	Active	NO
4	U11103MH2010PTC206617	POWERDEAL INFRA ENGERY AND NATURAL RESOURCES PRIVATE LIMITED	Director	14/08/2010	14/08/2010	Active	NO
5	U01403MH2011PTC221700	POWERDEAL AGROTECH PRIVATE LIMITED	Director	08/09/2011	08/09/2011	Active	NO

Name :	Mrs. Shubhada Mahesh Khairnar
Designation :	Director
Date of Birth/Age :	01.10.1975
Qualification :	Bachelor of Commerce
Date of Appointment :	10.09.2004
PAN No.:	AKJPK4705F
DIN No.:	01626440

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	Company/ LLP Status	Defaulting status
1	U29300MH2004PTC148511	POWERDEAL ENERGY SYSTEMS (INDIA) PRIVATE LIMITED	Director	10/09/2004	10/09/2004	Active	NO
2	U28900MH2006PTC160716	POWERDEAL HEAVY ENGINNERING PRIVATE LIMITED	Director	24/03/2006	24/03/2006	Amalgamated	NO
3	U85100MH2009NPL198006	INTERNATIONAL KNOWLEDGE FOUNDATION	Director	19/12/2009	19/12/2009	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Shubhada M Khairnar	8591268
Yogesh Khairnar	8739084
Mahesh B Khairnar	8601648
Total	25932000

List of Allottees

As on 14.11.2011

Names of Shareholders	No. of Shares
Shubhada M Khairnar	4000000
Yogesh Khairnar	4000000
Mahesh B Khairnar	4000000
Total	12000000

As on 30.09.2011

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00
	Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Galvanising Plant

GENERAL INFORMATION

No. of Employees :

100 Approximately

Bankers :

• IDBI Bank, IDBI Tower WTC Complex, Cuffe Parade, Mumbai 400005, Maharashtra, India
• The Shamrao Vithal Co Op Bank Limited, L 15, Utility Centre, Opposite Rajiv Gandhi Bhavan, Sharanpur Road, Nashik 422001, Maharashtra, India
• ING Vysya Bank Limited, 928, Mantri Centre, F. C. Road, Pune – 411004, Maharashtra, India
• HDFC Bank
• Bank of Baroda
• State Bank of India
• HSBC Bank
• ICICI Bank

Facilities :

SECURED LOAN	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Rupee term loans banks secured	73.747	73.144
Foreign currency loans banks secured	190.776	0.000
Working capital loans banks secured	219.401	117.023
Loans taken for vehicles secured	1.682	3.329
Total	485.606	193.496
UNSECURED LOAN	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Loans directors unsecured	5.741	0.103
Other debt unsecured	81.507	20.202
Total	87.248	20.305
NOTE (UNSECURED LOAN): Other debt unsecured includes debt on account of Bills Discounting

Banking Relations :	--
Auditors :
Name 1:	Chaturvedi Sohan and Company Chartered Accountants
Address :	320, Tulsiam Chambers, Nariman Point, Mumbai 400021, Maharashtra, India
PAN No.:	AABFC7158A
Name 2:	Milind Modak and Company Chartered Accountants
Address :	1, Sanket Apartments, Behind Hyundai Showroom, Near Chandak Circle, Tidke Colony, Nasik, Maharashtra, India
PAN No.:	AAPFM8993B

CAPITAL STRUCTURE

After 30.09.2011

Authorised Capital : Rs.432.200 Millions

Issued, Subscribed & Paid-up Capital : Rs.359.320 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
30010000	Equity Shares	Rs. 10 each	Rs.300.100 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
25932000	Equity Shares	Rs. 10 each	Rs.259.320 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		259.320	259.320	48.859
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		526.927	446.446	635.659
4] (Accumulated Losses)		0.000	(1.732)	(0.713)
NETWORTH		786.247	704.034	683.805
LOAN FUNDS
1] Secured Loans		485.606	193.496	146.940
2] Unsecured Loans		87.248	20.305	55.941
TOTAL BORROWING		572.854	213.801	202.881
DEFERRED TAX LIABILITIES		52.802	37.177	12.143
TOTAL		1411.903	955.012	898.829
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		989.142	826.940	782.292
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		5.933	10.519	4.683
DEFERREX TAX ASSETS		0.000	4.721	4.110
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	203.099	144.392	97.557
	Sundry Debtors	509.867	120.747	90.110
	Cash & Bank Balances	20.149	3.626	7.222
	Other Current Assets	123.016	26.103	28.489
	Loans & Advances	4.494	28.416	8.221
Total Current Assets		860.625	323.284	231.599
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	389.916	169.337	101.358
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	53.881	41.117	22.506
Total Current Liabilities		443.797	210.454	123.864
Net Current Assets		416.828	112.830	107.735
MISCELLANEOUS EXPENSES		0.000	0.002	0.009
TOTAL		1411.903	955.012	898.829

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Sales	1040.523	502.379
		Other Income	0.000	0.000
		TOTAL (A)	1040.523	502.379
Less	EXPENSES
		Selling and Distribution Expenses
		Office Expenses	886.791	389.085
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	886.791	389.085
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		153.732	113.294
Less	FINANCIAL EXPENSES (D)		31.517	19.510
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		122.215	93.784
Less/ Add	DEPRECIATION/ AMORTISATION (F)		65.603	61.427
	PROFIT BEFORE TAX (E-F) (G)		56.612	32.357
Less	TAX (H)		35.351	6.937
	PROFIT AFTER TAX (G-H) (I)		21.261	25.420
	Earnings Per Share (Rs.)		0.82	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	2.04	5.05
Net Profit Margin (PBT/Sales)	(%)	NA	5.44	6.44
Return on Total Assets (PBT/Total Assets}	(%)	NA	4.92	3.19
Return on Investment (ROI) (PBT/Networth)		NA	0.08	0.05
Debt Equity Ratio (Total Liability/Networth)		1.29	0.65	0.49
Current Ratio (Current Asset/Current Liability)		1.94	1.53	1.86

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	Yes
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	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

FORM 8:

Corporate identity number of the company	U29300MH2004PTC148511
Name of the company	POWERDEAL ENERGY SYSTEMS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	F 29 MIDC, Satpur, NAsik 422007, Maharashtra F 29 MIDC, Satpur, NAsik 422007, Maharashtra, India E-mail Id : girish.kaduskar@powerdealenergy.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	ING Vysya Bank Limited, 928, Mantri Centre, F. C. Road, Pune – 411004, Maharashtra, India Email: giridharvvrn@ingvysyabank.com
Nature of instrument creating charge	Deed of General Hypothecation.
Date of instrument Creating the charge	30/08/2012
Amount secured by the charge	Rs.250.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest CC : IVBR+2.05%p.a. WCDL(Sub limit to CC) : As mutually agreed prior to each drawdown. ILC/FLC/LuT(Sub limit to CC) : As per bank's standard schedule of charges. Terms of repayment CC : On Demand WCDL(Sub limit to CC) : maximum 180days ILC/FLC/LuT(Sub limit to CC) : ILC-120days,FLC-180days,LuT-120days,FLC+LuT-Max 300 days. Margin CC/WCDL : 25% on stocks and 40% on book debts(up to 90 days) ILC/FLC/LuT(Sub limit to CC) : 10% ,LuT - 25% Extent and operation of the charge First pari passu charge over entire current assets both present and future. First pari passu charge over other movable fixed assets both present and future.(except those charged exclusively for ECB loan Second pari passu charge over movable fixed assets which exclusively financed by ECB. Other CC : Rs.250.000 Millions WCDL(Sub limit to CC) : Rs.(200.000) Millions ILC/FLC/LuT(Sub limit to CC) : Rs.(150.000) Millions
Short particulars of the property charged (Including location of the property)	The whole of the current assets of the company namely stocks of raw materials, stocks in process ,semi-finished goods, stores and spares not relating to plant and machinery (consumable stores and spares),bills receivable and book debts and all other assets and movables both present and future. The whole of the moveable assets of the company (other than the current assets including but not limited to the movable machinery, consumable stores and spares relating to plant and machinery equipment, vehicles, computers, furniture, fixtures wherever situated or whether in transit both present and future. Movable fixed assets of the company both present and future located at 1. Land bearing Sy No.4/1,Sy No.4/2,Sy No.5/1,Sy No.5/2,Sy No.5/3/4,Sy No.6/2/1 situated at Village Vilholi,(vi) Mumbai Agra Road, Opposite Jain Temple, Taluka and Dist Nasik-422010 2. The property situated at F-29 (A and B),MIDC,Salpur,Nashik-422002.

FIXED ASSETS:

• Building
• Motor Car and Vehicle
• Plant and Machinery
• Computer
• Electrical Installation
• Furniture and Fittings
• Tools and Equipments
• Land
• Goodwill and Brand
• Product Design and Drawing
• Lifting and Handling Equipment Crane WIP

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.52.38
UK Pound	1	Rs.84.00
Euro	1	Rs.67.99

INFORMATION DETAILS

Report Prepared by :

BSN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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.