1. Summary Information

		Country	India
Company Name	LOK-BETA PHARMACEUTICALS (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Alok Kumar
Status	Moderate	Principal Name 2	Mrs. Shakuntala Awadhesh Sinha
		Registration #	11-135577
Street Address	324, Corporate Centre, Nirmal Life Style, LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra
Established Date	18.04.2002	SIC Code	--
Telephone#	91-22-25901729/41194567 (100 Lines)	Business Style 1	Manufacturer
Fax #	91-22-25901730	Business Style 2	Trader
Homepage	www.lokbetapharma.com	Product Name 1	Bulk Drugs
# of employees	Not Available	Product Name 2	Anti Infective Pharmaceuticals
Paid up capital	Rs.1,886,000/-	Product Name 3	--
Shareholders	Foreign Holdings (40.00%) Directors or relatives of Directors (60.00%)	Banking	State Bank of India
Public Limited Corp.	No	Business Period	11 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (36)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	511,059,000	Current Liabilities	358,803,000
Inventories	21,474,000	Long-term Liabilities	46,114,000
Fixed Assets	23,173,000	Other Liabilities	44,701,000
Deferred Assets	000	Total Liabilities	449,618,000
Invest& other Assets	4,277,000	Retained Earnings	108,479,000
		Net Worth	110,365,000
Total Assets	559,983,000	Total Liab. & Equity	559,983,000
Total Assets (Previous Year)	435,736,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	643,471,000	Net Profit	22,756,000
Sales(Previous yr)	459,914,000	Net Profit(Prev.yr)	18,191,000

MIRA INFORM REPORT

Report Date :

11.01.2013

IDENTIFICATION DETAILS

Name :	LOK-BETA PHARMACEUTICALS (INDIA) PRIVATE LIMITED
Registered Office :	324, Corporate Centre, Nirmal Life Style, LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.04.2002
Com. Reg. No.:	11-135577
Capital Investment / Paid-up Capital :	Rs.1.886 Millions
CIN No.: [Company Identification No.]	U24230MH2002PTC135577
TAN No.: [Tax Deduction & Collection Account No.]	MUML03758G
PAN No.: [Permanent Account No.]	AAACL7288G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Bulk Drugs and Anti Infective Pharmaceuticals.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 441000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The latest financial are not made available with the government department. As per previous year’s, the performance capacity of the company seems to be good. Trade relations are reported to be fair. Business is active. Payments are reported to be unknown. The company can be considered for business dealings with some caution.

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	CRISIL
Rating	B+ [Packing Credit]
Rating Explanation	Having high risk of default regarding timely servicing of financial obligation.
Date	May 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 :	324, Corporate Centre, Nirmal Lifestyle, LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-25901729/41194567 (100 Lines)
Fax No.:	91-22-25901730
E-Mail :	accounts@lokbetapharma.com lokbeta@lokbetapharma.com info@lokbetapharma.com
Website :	www.lokbetapharma.com

DIRECTORS

AS ON 25.09.2012

Name :

Mr. Alok Kumar

Designation :

Managing director

Address :

705, B Wing, Vardhaman Vatika, Opposite Tatvagyan Vidyapith, Ghodbunder Road, Thane (West) – 400607, Maharashtra, India

Date of Appointment :

18.04.2002

Din No.:

00566358

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U24230MH2002PTC135577	LOK-BETA PHARMACEUTICALS (INDIA )PRIVATE LIMITED	Managing director	18/04/2002	18/04/2002	-	Active	NO
2	U24230MH2003PTC139202	J DUNCAN HEALTHCARE PRIVATE LIMITED	Director	04/11/2003	04/11/2003	-	Active	NO
3	U24230MH2004PTC147141	BIOVEETA LABORATORIES PRIVATE LIMITED	Director	24/06/2004	24/06/2004	28/12/2010	Active	NO
4	U24231MH2006PTC161334	EMPROCELL CLINICAL RESEARCH PRIVATE LIMITED	Director	24/04/2006	24/04/2006	24/10/2012	Active	NO
5	U24239MH2006PTC165038	LOKBETA LABORATORIES PRIVATE LIMITED	Director	03/10/2006	03/10/2006	-	Active	NO
6	U24100MH2011PTC214319	BIOSYNTEZ LABORATORIES PRIVATE LIMITED	Managing director	03/03/2011	03/03/2011	-	Active	NO

Name :

Mrs. Shakuntala Awadhesh Sinha

Designation :

Director

Address :

705, B Wing, Vardhaman Vatika, Opposite Tatvagyan Vidyapith, Ghodbunder Road, Thane (West) – 400607, Maharashtra, India

Date of Appointment :

18.04.2002

Din No.:

02339170

Name :

Mr. Satyakam Kiran Kashyap

Designation :

Whole-time director

Address :

Flat No. 15, Nisarg Tapovan, Patalipada, Ghodbunder Road, Thane (West) – 400607, Maharashtra, India

Date of Appointment :

18.04.2002

Din No.:

00589984

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	U24230MH2002PTC135577	LOK-BETA PHARMACEUTICALS (INDIA )PRIVATE LIMITED	Whole-time director	18/04/2002	18/04/2002	Active	NO
2	U24230MH2003PTC139202	J DUNCAN HEALTHCARE PRIVATE LIMITED	Director	18/02/2003	18/02/2003	Active	NO

Name :

Mr. Sudhanshu Kumar Singh

Designation :

Director

Address :

Rajkunj, Banglow A-3, Chembur, Mumbai-400074, Maharashtra, India

Date of Birth :

28.05.1966

Date of Appointment :

22.08.2012

Din No.:

03582994

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	U24230MH2003PTC139202	J DUNCAN HEALTHCARE PRIVATE LIMITED	Additional director	01/12/2011	01/12/2011	Active	NO
2	U24230MH2002PTC135577	LOK-BETA PHARMACEUTICALS (INDIA )PRIVATE LIMITED	Director	22/08/2012	22/08/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.09.2012

Names of Shareholders	No. of Shares
Eurostate Corporation Limited, U.K	75424
Alok Kumar	113146
TOTAL	188570

AS ON 25.09.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	40.00
Directors or relatives of directors	60.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Bulk Drugs and Anti Infective Pharmaceuticals.

Products :

PRODUCT DESCRIPTION	ITEM CODE NO.
Pharmaceutical Products	3004

PRODUCTION STATUS [AS ON ]

Particulars	Unit	Actual Production
Tablets and Capsules	Nos.	528000
Injections – Vials	Nos.	4708524
Syrup – Bottles	Nos.	--
Others	--	--

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Wagle Industrial Estate Branch, Thane (West) – 400601, Maharashtra, India

· ICICI Bank Limited

· HDFC Bank Limited

· Kotak Mahindra Bank Limited

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
(A) From Banks
Term Loans
ICICI Bank Limited	0.000	0.023
HDFC Bank Limited (Secured against hypothecation of Motor Cars) (Repayable within one year Rs.0.336 Millions Previous Year Rs.0.536 Millions)	0.949	1.262
State Bank of India (Secured against Equitable Mortgage by deposit of title deeds of office premises) (Repayable within one year Rs.0.795 Million, Previous Year Rs.1.050 Millions)	0.000	0.795
Short Term Borrowings State Bank of India
Export Packing Credit	37.692	43.503
Cash Credit (All the above loans are secured against hypothecation of Stock of Raw Materials, Packing Materials, Consumable Stores and Spares, Finished Goods, Book Debts and Receivable and Other Current Assets and Lien on FDs and are additionally secured by personal guarantee of one Director of the Company)	2.792	1.597
(B) From Others
Mahindra Finance Limited – Car Loan (Secured against hypothecation of a Motor Car) (Repayable within one year Rs.0.128 Million, Previous Year Rs.0.121 Million)	0.529	0.128
TOTAL	41.962	47.308
Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Short Term Loans
From Directors	0.310	0.310
From Others	0.807	0.815
Other Loans
From Banks :
HDFC Bank Limited	0.000	0.345
Kotak Mahindra Bank Limited	0.000	0.345
From Others : Kotak Mahindra Prime Limited	3.035	3.595
TOTAL	4.152	5.410

Financial Institute :	· Mahindra Finance Limited · Kotak Mahindra Prime Limited
Banking Relations :	--
Auditors :
Name :	Harivadan K Shah and Company Chartered Accountants
Address :	308, Paradise Tower, Gokhale Road, Naupada, Thane-400602, Maharashtra, India
Tel. No.:	91-22-67934379
Mobile No.:	91-9869019308
E-Mail :	ca_hkshah@yahoo.com
PAN No:	AEEPS5233F

CAPITAL STRUCTURE

AS ON 31.03.2011

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
188570	Equity Shares	Rs.10/- each	Rs.1.885 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		1.886	1.886	1.886
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		108.479	85.723	67.532
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		110.365	87.609	69.418
LOAN FUNDS
1] Secured Loans		41.962	47.308	62.477
2] Unsecured Loans		4.152	5.410	3.572
TOTAL BORROWING		46.114	52.718	66.049
DEFERRED TAX LIABILITIES		0.212	0.349	0.000
TOTAL		156.691	140.676	135.467
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		23.173	21.904	23.948
Capital work-in-progress		0.880	0.744	0.580
INVESTMENT		3.397	1.510	1.510
DEFERREX TAX ASSETS		0.000	0.000	2.540
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	21.474	12.957	14.598
	Sundry Debtors	253.555	270.770	240.472
	Cash & Bank Balances	131.505	31.686	30.609
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	125.999	96.165	79.715
Total Current Assets		532.533	411.578	365.394
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	355.156	267.538	214.278
	Other Current Liabilities	3.647	3.562	2.341
	Provisions	44.489	23.960	41.910
Total Current Liabilities		403.292	295.060	258.529
Net Current Assets		129.241	116.518	106.865
MISCELLANEOUS EXPENSES		0.000	0.000	0.024
TOTAL		156.691	140.676	135.467

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL (A)	643.471	459.914	254.227
Less	EXPENSES
		TOTAL (B)	601.026	422.970	228.235
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		42.445	36.944	25.992
Less	FINANCIAL EXPENSES (D)		5.343	6.453	8.961
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		37.102	30.491	17.031
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.431	2.413	2.266
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		34.671	28.078	14.765
Less	TAX (H)		11.915	9.887	9.512
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		22.756	18.191	5.253
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	588.147	378.399	209.971
	IMPORTS
		Raw Materials	NA	108.940	41.300
		Traded Goods	NA	12.341	0.000
	TOTAL IMPORTS		NA	121.281	41.300
	Earnings / (Loss) Per Share (Rs.)		120.68	96.47	27.86

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.54	3.95	2.07
Return on Total Assets (PBT/Total Assets}	(%)	6.23	6.48	3.79
Return on Investment (ROI) (PBT/Networth)		0.31	0.32	0.21
Debt Equity Ratio (Total Liability/Networth)		4.07	3.97	4.67
Current Ratio (Current Asset/Current Liability)		1.32	1.39	1.41

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	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 three years	Yes
12]	Profitability for last three 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	No
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

OPERATIONS:

Though throughout the period under report, the recessionary economic conditions continued to prevail globally and also in the markets where the company operates, however vigorous marketing efforts coupled with timely delivery of quality products helped the company to increase its total sales from Rs.461.200 Millions in 2009-10 to Rs.643.500 Millions registering sales growth of 39.53% during the year under reports. The profit after taxation for the year under report also increased from Rs.18.200 Millions in 2009-10 Rs.22.800 Millions in 2010-11 showing growth of 25.27% during the year under report. The directors are taking all the required steps to give further thrust to sales growth and profitability and accelerate the tempo of growth and profitability as it could achieve in earlier years.

FUTURE GROWTH

Land has been acquired at Goa to Set up Anti – Cancer facilities for which the modalities are being worked out.

FIXED ASSETS

· Land

· Office Premises

· Air Conditioner

· Computer and Printers

· Fax Machine

· Furniture and Fixtures

· Motor Car

· Office Equipment

· Refrigerator

· Xerox Machine

· Plant and Machinery

· Moulds and Dies

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.54.63
UK Pound	1	Rs.87.50
Euro	1	Rs.71.32

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		36

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	-

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.