MIRA INFORM REPORT
|
Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
VERSALIS S.P.A. |
|
|
|
|
Registered Office : |
Piazza Boldrini , 1 San Donato Milanese 20097 |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.12.1989 |
|
|
|
|
Legal Form : |
Public Company With A Sole Shareholder |
|
|
|
|
Line of Business : |
Production, Distribution and Wholesale In
Italy and Abroad of Chemicals For Industry |
|
|
|
|
No. of Employees : |
4663 |
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 |
|
Payment Behaviour : |
Slow |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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,
highly subsidized, agricultural south, where unemployment is high. 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 its exceptionally high public debt
and structural impediments to growth have rendered it vulnerable to scrutiny by
financial markets. Public debt has increased steadily since 2007, topping 126%
of GDP in 2012, and investor concerns about the broader euro-zone crisis at
times have caused borrowing costs on sovereign government debt to rise to
euro-era. During the second half of 2011 the government passed three austerity
packages to reduce its budget deficit and help bring down borrowing costs.
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 sustain its recent efforts to address
Italy's long-standing structural impediments to growth, such as labor market
inefficiencies and widespread tax evasion. In 2012 economic growth and labor
market conditions deteriorated, with growth at -2.3% and unemployment rising to
nearly 11%, with youth unemployment around 35%. The government has undertaken
several reform initiatives designed to increase long-term economic growth.
Italy's GDP is now 7% below its 2007 pre-crisis level.
Source
: CIA
Company Summary
|
Company Name |
VERSALIS S.P.A. |
|
Company Type |
PUBLIC COMPANY WITH A SOLE SHAREHOLDER |
|
Address |
PIAZZA BOLDRINI , 1 |
|
Town |
SAN DONATO MILANESE |
|
Post Code |
20097 |
|
Telephone Number |
|
|
Province |
SAN DONATO MILANESE |
|
Fiscal Code |
03823300821 |
|
VAT Number |
N.A. |
|
Activity Start Date |
18-3-1991 |
|
Incorporation Date |
28-12-1989 |
|
Closure Date |
31-12-2100 |
|
REA Inscription |
1351279 on the date of 12-3-2007 |
|
CCIAA province and number |
MI 1351279 |
|
Company Status |
Active |
|
Currency |
EURO (€) |
Activity
|
SIC Code |
2800 |
|
Business Activity |
PRODUCTION, DISTRIBUTION AND WHOLESALE IN
ITALY AND ABROAD OF CHEMICALS FOR INDUSTRY |
Financial Data
|
Date of Latest Accounts |
31-12-2012 |
|
Turnover |
|
|
Profit & Loss |
-593.284.000 |
|
Number of Employees |
4663 |
Subsidaries
|
Address |
Type of
Premesis |
|
VIA ENRICO FERMI 4 - BRINDISI (BR) |
ESTABLISHMENT |
|
S.S. 195 KM 18,800 SN - SARROCH (CA) |
ESTABLISHMENT |
|
PIAZZALE G. DONEGANI 12 - FERRARA (FE) |
ESTABLISHMENT |
|
PIAZZA BOLDRINI 1 - SAN DONATO MILANESE (MI) |
ADMINISTRATIVE OFFICE |
|
VIA VOLTA 7 - SETTIMO MILANESE (MI) |
ESTABLISHMENT |
|
VIA TALIERCIO 14 - MANTOVA (MN) |
ESTABLISHMENT |
|
VIA GIACOMO FAUSER 4 - NOVARA (NO) |
OPERATING CENTER |
|
VIA BAIONA 107/111 - RAVENNA (RA) |
ESTABLISHMENT |
|
CONTRADA TABUNA VIA DELLE MINIERE - RAGUSA (RG) |
ESTABLISHMENT |
|
LITORANEA PRIOLESE 39 - PRIOLO GARGALLO (SR) |
ESTABLISHMENT |
|
ZONA INDUSTRIALE LA MARINELLA - PORTO TORRES (SS) |
FILING |
|
PIAZZA TOMMASEO 2 - TRIESTE (TS) |
OFFICE |
|
VIA DELLA CHIMICA 5 - VENEZIA (VE) |
ESTABLISHMENT |
Business Activity and Financial Ratios
|
SIC Code |
2800 |
|
Business Activity |
PRODUZIONE, DISTRIBUZIONE E COMMERCIO ALL'INGROSSO IN ITALIA E ALL'ESTERO
DI PRODOTTI CHIMICI PER L'INDUSTRIA |
|
Company Purpose |
|
|
Ateco Code |
20.1 |
|
Ateco Description |
FABBRICAZIONE DI PRODOTTI CHIMICI DI BASE, DI FERTILIZZANTI E COMPOSTI
AZOTATI, DI MATERIE PLASTICHE E GOMMA SINTETICA IN FORME PRIMARIE |
|
SAE Code |
430 |
|
RAE Code |
253 |
|
Number of Employees |
4663 |
|
Paid up share capital |
1.553.400.000 (EURO) |
|
Date of Latest Accounts |
31-12-2012 |
|
|
|
|
Key Financial Items |
|
|
Turnover |
|
|
Profit & Loss |
-593.284.000 |
|
Shareholders Equity |
553.461.000 |
|
Fixed Assets |
871.810.000 |
Balance Sheet (Assets)
|
Date |
31-12-2012 |
|
DUE FROM SHAREHOLDERS FOR SUBSCRIBED SHARE CAPITAL UNPAID |
0 |
|
Total Fixed Assets |
871.810.000 |
|
- Intangible assets |
59.755.000 |
|
- Tangible assets |
637.195.000 |
|
- - Land and Buildings |
0 |
|
- Financial assets |
174.860.000 |
|
- - Amounts owed by assoc./affiliated co.s |
430.000 |
|
- - Holdings |
173.452.000 |
|
- - Treasury stocks |
0 |
|
|
|
|
Total Current Assets |
2.279.958.000 |
|
- Stocks |
960.445.000 |
|
- - Semi-finished products & Raw materials |
960.445.000 |
|
- - Work-in-progress |
|
|
- Credits |
1.284.099.000 |
|
- - Short-term debtors |
997.455.000 |
|
- - Trade debtors |
443.636.000 |
|
- - Short-term trade debtors |
443.636.000 |
|
- Financial assets |
0 |
|
- - Treasury stocks |
0 |
|
- Cash and bank |
35.414.000 |
|
Prepayments & Accrued Income |
575.000 |
|
Total Assets |
3.152.343.000 |
Liabilities
|
SHAREHOLDERS' EQUITY |
553.461.000 |
|
- Share capital |
1.553.400.000 |
|
- Share premium reserve |
0 |
|
- Revaluation reserve |
0 |
|
- Other reserves |
-999.939.000 |
|
PROVISIONS FOR RISKS & CHARGES |
180.104.000 |
|
- Provisions for taxation |
0 |
|
PROVISION FOR SEVERANCE INDEMNITY |
58.086.000 |
|
CREDITORS |
2.356.950.000 |
|
- Short-term creditors |
1.746.154.000 |
|
- Trade creditors |
348.902.000 |
|
- Amounts due to banks - short term |
0 |
|
- Accrued expenses and deferred income |
|
|
- Long-term creditors |
610.796.000 |
|
- Amounts due to banks - medium/long-term |
1.577.000 |
|
PREPAYMENTS & ACCRUED INCOME |
3.742.000 |
|
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY |
3.152.343.000 |
|
MEMORANDUM ACCOUNTS |
0 |
|
ACCUMULATED DEPRECIATION OF TANGIBLE ASSETS |
2.264.000.000 |
Profit & Loss
|
PRODUCTION VALUE |
5.317.564.000 |
|
- Revenues |
5.220.372.000 |
|
- TOTAL CHANGES |
- |
|
- Change in stocks of finished goods & work in progress |
|
|
- Change in stocks of finished goods & work in progress |
- |
|
- Other revenues |
97.192.000 |
|
PRODUCTION COSTS |
5.879.701.000 |
|
- Purchase of raw materials & goods |
4.065.000.000 |
|
- Change in materials |
- |
|
CONSUMPTION OF MATERIALS |
4.065.000.000 |
|
OVERHEADS |
1.369.245.000 |
|
- Provisions for risks & other |
22.000.000 |
|
VALUE ADDED |
-94.681.000 |
|
STAFF COST |
290.938.000 |
|
- Provision for severance indemnity |
- |
|
G.O.M. |
-504.811.000 |
|
AMORT./DEPREC/WRITED. OF FIXED ASSETS |
154.518.000 |
|
- Amortisation / depreciation / writedowns |
138.518.000 |
|
- Amortisation of intangible assets |
4.000.000 |
|
- Depreciation of tangible assets |
49.000.000 |
|
PROFIT / (LOSS) FROM ORDINARY OPERATING ACTIVITIES |
-659.329.000 |
|
OTHER INCOME / CHARGES |
189.840.000 |
|
- Interest receivable & similar income |
92.648.000 |
|
OPERATING PROFIT / (LOSS) |
-469.489.000 |
|
FINANCIAL CHARGES |
104.192.000 |
|
PROFIT / (LOSS) BEFORE EXTRAORDINARY OP.S |
-573.681.000 |
|
ADJUSTMENTS TO VALUE OF FINANCIAL ASSETS (+-) |
-190.692.000 |
|
EXTRAORDINARY INCOME/CHARGES (+-) |
- |
|
PROFIT / (LOSS) BEFORE TAXATION |
-764.373.000 |
|
TAXATION |
-171.089.000 |
|
PROFIT (LOSS) FOR THE PERIOD |
-593.284.000 |
|
CASH FLOW |
-438.766.000 |
|
EMPLOYEES |
4.663 |
Ratios
|
Date |
2012 |
|
Returns Ratios |
|
|
R.O.E. (Return On Equity) |
0 |
|
R.O.I. (Return On Investment) |
-20.92 |
|
R.O.S. (Return On Sales) |
-10.77 |
|
R.O.A. (Return On Assests) |
-17.83 |
|
G.O.M on Returns |
-9.67 |
|
Turnover Ratio |
|
|
Invested Capital Turnover |
165.6 |
|
Current Assets Turnover |
228.97 |
|
Warehouse Turnover |
543.54 |
|
Equity and Financial Ratios |
|
|
Fixed Assets Cover |
63.48 |
|
Banks on Current Assets |
0.07 |
|
Short-term Banks on Current Assets |
0 |
|
Gearing |
82.44 |
|
Shareholders' Equity / Invested Capital |
17.56 |
|
Financial Charges on Turnover |
2 |
|
Financial Charges on G.O.M. |
-20.64 |
|
Productivity Ratios |
|
|
Turnover per Employee |
1119530.77 |
|
Operating Value Added per Employee |
-20304.74 |
|
Labour Cost per Employee |
62392.88 |
|
Labour Cost on Turnover |
5.57 |
|
Value Added on Turnover |
-1.81 |
|
Liquidity Ratios |
|
|
Current Ratio |
113.94 |
|
Acid-Test Ratio |
59.06 |
|
Days of Credit to Customers or Duration of Amounts owed by Customers |
30.59 |
|
Days of Credit from Suppliers or Duration of Amounts owed to Suppliers
|
23.21 |
|
Days of Stocks or Duration of Stocks |
66.23 |
|
Rate of intensity of Current Assets |
38.19 |
|
Incidence Ratios for Cost |
|
|
Consumption of Materials on Costs |
69.14 |
|
External Costs on Costs |
92.8 |
|
Labour Costs on Costs |
4.95 |
|
Depreciation and Devaluation on Costs |
2.63 |
Industry Risk Indicator
|
Industry Risk Score |
2 / 5 - Moderate risk |
Protested Bills
|
Body |
Don't Exist |
Possible Match |
Exact Match |
|
VERSALIS S.P.A. |
|
|
|
|
|
|||
|
ENI S.P.A. |
|
|
|
|
|
|||
|
SHIPPING SERVICE ITALIA S.R.L. |
|
|
|
|
|
|||
|
U. DEL CORONA & SCARDIGLI |
|
|
|
|
|
|||
|
JAS - JET AIR SERVICE S.P.A. |
|
|
|
|
|
|||
|
S.T.E. SERVIZI TECNOLOGICI PER L'ECOLOGIA S.R.L. |
|
|
|
|
|
|||
|
ENI ADMINISTRATION & FINANZIAL SERVICE S.P.A. |
|
|
|
|
|
|||
|
ISAB SRL |
|
|
|
|
|
|||
|
SYNDIAL S.P.A. |
|
|
|
|
|
|||
|
ENISERVIZI S.P.A. |
|
|
|
|
|
|||
|
FONDO INTEGRATIVO SANITARIO DIRIGENTI DELLE AZIENDE DEL GRUPPO ENI - FISDE |
|
|
|
|
|
|||
|
SALVATORE SARDO (executive) |
|
|
|
|
|
|||
|
DANIELE FERRARI (executive) |
|
|
|
|
|
|||
|
DAVIDE CALABRO' (executive) |
|
|
|
|
|
|||
|
ROSANNA FUSCO (executive) |
|
|
|
|
|
|||
|
CRISTIANA ARGENTINO (executive) |
|
|
|
|
|
|||
|
CONO MAURIZIO BONOMO (executive) |
|
|
|
|
|
|||
|
GIUSEPPE CIOFFI (executive) |
|
|
|
|
|
|||
|
CARMELO IACONO (executive) |
|
|
|
|
|
|||
|
VITO FRENNA (executive) |
|
|
|
|
|
|||
|
ANTONIO ROSSI (executive) |
|
|
|
Directors Information
|
Type |
Executive |
|
Forename |
SALVATORE |
|
Surname |
SARDO |
|
Date of Birth |
28-11-1952 |
|
Gender |
Male |
|
Place of Birth |
TORINO (TO) |
|
Resident Address |
PZA BOLDRINI , 1 20097 - SAN DONATO MILANESE
(MI) |
|
Director Fiscal Code |
SRDSVT52S28L219N |
|
COUNCILLOR since |
23-4-2013 |
|
BOARD OF DIRECTORS PRESIDENT since |
23-4-2013 |
|
|
|
|
Type |
Executive |
|
Forename |
DANIELE |
|
Surname |
FERRARI |
|
Date of Birth |
1-10-1961 |
|
Gender |
Male |
|
Place of Birth |
VOGHERA (PV) |
|
Resident Address |
PZA BOLDRINI , 1 20097 - SAN DONATO MILANESE
(MI) |
|
Director Fiscal Code |
FRRDNL61R01M109Z |
|
COUNCILLOR since |
23-4-2013 |
|
MANAGING DIRECTOR since |
24-4-2013 |
|
|
|
|
Type |
Executive |
|
Forename |
DAVIDE |
|
Surname |
CALABRO' |
|
Date of Birth |
13-9-1966 |
|
Gender |
Male |
|
Place of Birth |
CAGLIARI (CA) |
|
Resident Address |
PZA BOLDRINI , 1 20097 - SAN DONATO MILANESE
(MI) |
|
Director Fiscal Code |
CLBDVD66P13B354I |
|
COUNCILLOR since |
23-4-2013 |
|
|
|
|
Type |
Executive |
|
Forename |
ROSANNA |
|
Surname |
FUSCO |
|
Date of Birth |
1-7-1960 |
|
Gender |
Female |
|
Place of Birth |
AGEROLA (NA) |
|
Resident Address |
PZA BOLDRINI , 1 20097 - SAN DONATO MILANESE
(MI) |
|
Director Fiscal Code |
FSCRNN60L41A068F |
|
COUNCILLOR since |
23-4-2013 |
|
|
|
|
Type |
Executive |
|
Forename |
CRISTIANA |
|
Surname |
ARGENTINO |
|
Date of Birth |
12-5-1968 |
|
Gender |
Female |
|
Place of Birth |
TORINO (TO) |
|
Resident Address |
PZA BOLDRINI , 1 20097 - SAN DONATO MILANESE
(MI) |
|
Director Fiscal Code |
RGNCST68E52L219R |
|
COUNCILLOR since |
23-4-2013 |
|
|
|
|
Type |
Executive |
|
Forename |
CONO MAURIZIO |
|
Surname |
BONOMO |
|
Date of Birth |
17-9-1955 |
|
Gender |
Male |
|
Place of Birth |
PALERMO (PA) |
|
Resident Address |
N.D. - () |
|
Director Fiscal Code |
BNMCMR55P17G273C |
|
SOLICITOR since |
13-12-1996 |
|
|
|
|
Type |
Executive |
|
Forename |
GIUSEPPE |
|
Surname |
CIOFFI |
|
Date of Birth |
12-1-1948 |
|
Gender |
Male |
|
Place of Birth |
SALERNO (SA) |
|
Resident Address |
VIA E. FERMI , 4 72100 - BRINDISI (BR) |
|
Director Fiscal Code |
CFFGPP48A12H703Y |
|
SOLICITOR since |
27-4-1998 |
|
|
|
|
Type |
Executive |
|
Forename |
CARMELO |
|
Surname |
IACONO |
|
Date of Birth |
19-2-1946 |
|
Gender |
Male |
|
Place of Birth |
RAGUSA (RG) |
|
Resident Address |
CSO VITTORIO VENETO , 493 97100 - RAGUSA
(RG) |
|
Director Fiscal Code |
CNICML46B19H163V |
|
SOLICITOR since |
12-3-1999 |
|
|
|
|
Type |
Executive |
|
Forename |
VITO |
|
Surname |
FRENNA |
|
Date of Birth |
24-1-1967 |
|
Gender |
Male |
|
Place of Birth |
PALERMO (PA) |
|
Resident Address |
CSO DEI MILLE , 893/E 90100 - PALERMO (PA) |
|
Director Fiscal Code |
FRNVTI67A24G273W |
|
SOLICITOR since |
5-4-2000 |
|
|
|
|
Type |
Executive |
|
Forename |
ANTONIO |
|
Surname |
ROSSI |
|
Date of Birth |
4-6-1960 |
|
Gender |
Male |
|
Place of Birth |
MILANO (MI) |
|
Resident Address |
VIA ENRICO FERMI , 4 72100 - BRINDISI (BR) |
|
Director Fiscal Code |
RSSNTN60H04F205M |
|
SOLICITOR since |
21-1-2002 |
|
|
|
|
Type |
Company |
|
Name |
ENI S.P.A. |
|
Address |
ENRICO MATTEI PLE, 00100 - ROMA (RM) |
|
Director Fiscal Code |
00484960588 |
|
SOLE PARTNER since |
22-2-2007 |
|
SPECIAL SOLICITOR since |
22-9-2009 |
|
SOLICITOR since |
22-4-2010 |
|
|
|
|
Type |
Company |
|
Name |
SHIPPING SERVICE ITALIA S.R.L. |
|
Address |
CAVOUR PZA, 12 57100 - LIVORNO (LI) |
|
Director Fiscal Code |
00388800278 |
|
SOLICITOR since |
21-12-2001 |
|
|
|
|
Type |
Company |
|
Name |
U. DEL CORONA & SCARDIGLI |
|
Address |
D'AZEGLIO SCI, 32 57100 - LIVORNO (LI) |
|
Director Fiscal Code |
01357070497 |
|
SOLICITOR since |
21-12-2001 |
|
|
|
|
Type |
Company |
|
Name |
JAS - JET AIR SERVICE S.P.A. |
|
Address |
C. G. MERLO VIA, 20100 - MILANO (MI) |
|
Director Fiscal Code |
01921910152 |
|
SOLICITOR since |
6-6-2006 |
|
|
|
|
Type |
Company |
|
Name |
S.T.E. SERVIZI TECNOLOGICI PER L'ECOLOGIA S.R.L. |
|
Address |
DELLA CHIMICA VIA, 30100 - VENEZIA (VE) |
|
Director Fiscal Code |
02427320276 |
|
SOLICITOR since |
4-7-2006 |
|
|
|
|
Type |
Company |
|
Name |
ENI ADMINISTRATION & FINANZIAL SERVICE S.P.A. |
|
Address |
ENRICO MATTEI PLE, 00100 - ROMA (RM) |
|
Director Fiscal Code |
00448770586 |
|
SPECIAL SOLICITOR since |
24-4-2007 |
|
|
|
|
Type |
Company |
|
Name |
ISAB SRL |
|
Address |
EX STRADA STATALE 114 KM 146 , 96010 - PRIOLO
GARGALLO (SR) |
|
Director Fiscal Code |
01629050897 |
|
SOLICITOR since |
5-2-2009 |
|
|
|
|
Type |
Company |
|
Name |
SYNDIAL S.P.A. |
|
Address |
BOLDRINI PZA, 20097 - SAN DONATO MILANESE
(MI) |
|
Director Fiscal Code |
09702540155 |
|
SPECIAL SOLICITOR since |
12-1-2010 |
|
|
|
|
Type |
Company |
|
Name |
ENISERVIZI S.P.A. |
|
Address |
VANONI PZA, 20097 - SAN DONATO MILANESE (MI)
|
|
Director Fiscal Code |
11665650153 |
|
SOLICITOR since |
23-6-2011 |
|
|
|
|
Type |
Company |
|
Name |
FONDO INTEGRATIVO SANITARIO DIRIGENTI DELLE AZIENDE DEL GRUPPO ENI -
FISDE |
|
Address |
FELICE MARITANO VIA, 26 20097 - SAN DONATO MILANESE
(MI) |
|
Director Fiscal Code |
80148350152 |
|
SPECIAL SOLICITOR since |
20-12-2011 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.