|
Report Date : |
14.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
LUCENT
CLEANENERGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
FF-14/15,
Pushpak Apartment, Opposite Kala Darshan Flat, Prernatirth Derasar Road, Satellite,
Ahmedabad – 380 015, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.07.2011 |
|
|
|
|
Com. Reg. No.: |
04-066131 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.984
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201GJ2011PTC066131 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Solar Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Yet to commence its business activities |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated during July 2011, it has not started
its commercial activity as on date of 31.03.2012. External borrowing of the company appears to be high. Trade relations
are fair. Business is active. Payment terms are unknown. The company can be considered for business dealing on a safe and secured
trade terms and condition. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan: B+ (Suspended) |
|
Rating Explanation |
High risk of default. |
|
Date |
June 27, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limit: A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
June 27, 2013 |
Reason for suspension: Absence of requisite information from the
company.
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/ Head Office : |
14/15, First
Floor, Pushpak Apartment, Opposite Kala Darshan Flat, Prernatirth Derasar
Road, Satellite, Ahmedabad – 380 015, Gujarat, India |
|
Tel. No.: |
91-79-40063353 |
|
Fax No.: |
91-79-26921203 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Sarkhej Bavla Highway, Block No.187, Opposite Laxminarayan Petrol
Pump, Changodar, Ahmedabad – 382 213, Gujarat, India |
DIRECTORS
|
Name : |
Mr. Shailesh Bhai Parshottambhai Bavishiya |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
30, Sangathan Society, Opposite Sunrise Park, Vastrapur, Ahmedabad –
380 054, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1973 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01908191 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Prafulbhai Parshottambhai Bavishiya |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
30, Sangathan Society, Opposite Sunrise Park, Vastrapur, Ahmedabad –
380 054, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
31.05.1969 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01908180 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Prafulbhai P. Bavishiya |
|
3400 |
|
Shaileshbhai P. Bavishiya |
|
3300 |
|
Domadiya Akash Kanubhai |
|
3300 |
|
Total
|
|
10000 |
AS ON 25.03.2012
|
Names of Allottees |
|
No. of Shares |
|
Bhanuben K. Domadiya |
|
2555 |
|
Kanubhai A. Domadiya |
|
750 |
|
Gauriben P. Bavishiya (Patel) |
|
1175 |
|
Arunaben P. Bavishiya |
|
4000 |
|
Parshottambhai G. Bavishiya (Patel) |
|
9500 |
|
Divyaben S. Bavishiya |
|
7500 |
|
Total
|
|
25480 |
AS ON 28.02.2012
|
Names of Allottees |
|
No. of Shares |
|
Shaileshbhai P. Bavishiya |
|
19000 |
|
Prafulbhai P. Bavishiya |
|
8000 |
|
Arunaben P. Bavishiya |
|
2625 |
|
Divyaben S. Bavishiya |
|
2500 |
|
Prafulbhai P. Bavishiya HUF |
|
7375 |
|
Shaileshbhai P. Bavishiya HUF |
|
21000 |
|
Akash Kanubhai Domadiya |
|
1000 |
|
Gauriben P. Bavishiya (Patel) |
|
375 |
|
Parshottambhai G. Bavishiya (Patel) |
|
1000 |
|
Total
|
|
62875 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Solar Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||
|
|
|
||||||||
|
Bankers : |
State Bank of
India, Law Garden Branch, Zodiac Avenue, Opposite Municipal Commissioner
Bungalow, Law Garden, Ahmedabad – 380 006, Gujarat, India |
||||||||
|
|
|
||||||||
|
Facilities : |
Notes: LONG TERM
BORROWINGS Details of Security for loan from Bank Primary Security ·
Hypothecation of stock and book debts
and entire current assets of the company secured by way of entire fixed
assets purchased out of bank finance
EM over land of Block No.187, Behind Sigma, Opposite Jackson Press Road,
Opposite Laxmi Narayan Petrol
Pump behind ACC Concrete, Near
National Pharrna Mounj Changodar Taluka
Sanand Ahmedabad. Collateral Security ·
Factory Land situated at Block No.187, Changodar admeasuring 4836 sq yards, with market
value around Rs.33.154 millions in the name of directors. ·
Residential Bungalow situated at 30, Sangathan
Society, Opposite Sunrise
Park, Vastrapur in the name of Mr. Parsottamdas G. Bavishiya having
market value of Rs.35.150
millions. ·
Office No.403-404-405 at Shivam Arcade, Opposite
Nirman Complex, RC Technical Road, Off S.G.
Road, Ahmedabad, in name of Eminent Buildcon with market value around Rs.21.190 millions. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil S. Shah ad Company Chartered Accountants |
|
Address : |
302, Shaily Complex, Opposite Loha Bhavan, Near Old High Court Road,
Navarangpura, Ahmedabad – 380 009, Gujarat, India |
|
Tel. No.: |
91-79-27541146 |
|
E-Mail : |
|
|
PAN No.: |
AAJFA6533D |
|
|
|
|
Company/ Partnership Firm in which KMP/ Relatives of KMP can exercise
significant influence : |
|
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
98355 |
Equity Shares |
Rs.10/- each
|
Rs.0.984
million |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
98355 |
Equity Shares |
Rs.10/- each
|
Rs.0.984
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.984 |
|
(b) Reserves & Surplus |
|
|
16.787 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
17.771 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
51.749 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c)
Other long term liabilities |
|
|
2.300 |
|
(d)
Long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
54.049 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.006 |
|
(b)
Trade payables |
|
|
0.000 |
|
(c)
Other current liabilities |
|
|
0.000 |
|
(d)
Short-term provisions |
|
|
0.245 |
|
Total
Current Liabilities (4) |
|
|
0.251 |
|
|
|
|
|
|
TOTAL |
|
|
72.071 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
0.000 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
58.322 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan
and Advances |
|
|
2.199 |
|
(e)
Other Non-current assets |
|
|
7.241 |
|
Total
Non-Current Assets |
|
|
67.762 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
0.000 |
|
(c)
Trade receivables |
|
|
0.000 |
|
(d)
Cash and cash equivalents |
|
|
4.285 |
|
(e)
Short-term loans and advances |
|
|
0.024 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
4.309 |
|
|
|
|
|
|
TOTAL |
|
|
72.071 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.000 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
2.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
17.17 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last one year |
Yes |
|
12) Profitability for last one year |
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 |
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 |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
Loans and advances from Director and Shareholder (Repayable between one to two year.) |
23.665 |
|
SHORT TERM
BORROWINGS |
|
|
Loans repayable on demand – From Banks |
0.006 |
|
Total
|
23.671 |
Note:
The registered office of the company has been shifted from 42, Sector-2, Chanakyapuri Ghatlodiya, Near Railway Fatak Ahmedabad-Gujarat, Ahmedabad – 380 061, Gujarat to the present address w.e.f. 02.07.2011.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10336574 |
08/02/2012 |
159,000,000.00 |
STATE BANK OF
INDIA |
LAW GARDEN BRANCH,
ZODIAC AVENUE, OPPOSITE MUNICIPAL |
B32554065 |
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 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 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.61.43 |
|
|
1 |
Rs.95.07 |
|
Euro |
1 |
Rs.81.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
1 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.