MIRA INFORM REPORT
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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
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Name : |
BABA INFOTECH PRIVATE LIMITED |
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Registered Office : |
204 Nanapeth, Pune – 411 002, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
10.02.2000 |
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Com. Reg. No.: |
11-014469 |
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Capital Investment / Paid-up Capital : |
2.000 Millions |
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CIN No.: [Company
Identification No.] |
U72200pn2000ptc04469 |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer, Trader and Importer of Computer Peripherals. |
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No. of Employees : |
60 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 62000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
profitability of the company appears to be low. The external borrowing seems to
be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION PARTED BY
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Name : |
Mr. Naresh Moryani |
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Designation : |
Director |
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Contact No.: |
91-9371107053 |
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Date : |
16.05.2013 |
LOCATIONS
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Registered Office : |
204 Nanapeth, Pune – 411 002, Maharashtra, India |
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Tel. No.: |
91-20-24485561 |
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Fax No.: |
91-20-66025545 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory 1 : |
470, Sadashiv Peth, Pune – 411 002, Maharashtra, India |
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Tel. No.: |
91-20-24485561/268 |
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Factory 2 : |
1577, Tilak Road, Off, Mandal, Maharashtra, India |
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Tel. No.: |
91-20-24336249 / 2205 |
DIRECTORS
AS ON 21.09.2011
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Name : |
Mr. Namdev Dayaram Moryani |
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Designation : |
Director |
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Address : |
Building A/5, F/1, No. 21-1, pleasant
Park, Wanmadi, Pune – 411 013, Maharashtra, India |
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Date of Birth/Age : |
09.11.1968 |
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Date of Appointment : |
10.02.2000 |
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DIN No.: |
00592059 |
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Name : |
Mr. Suresh Dayaram Moryani |
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Designation : |
Director |
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Address : |
B – 3/8, pleasant Park,
Wanmadi, Pune – 411 013, Maharashtra, India
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Date of Birth/Age : |
25.12.1960 |
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Date of Appointment : |
10.02.2000 |
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DIN No.: |
00959227 |
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Name : |
Mr. Naresh Moryani |
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Designation : |
Director |
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Address : |
A-5/3, pleasant Park,
Wanmadi, Pune – 411 013, Maharashtra, India
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Date of Birth/Age : |
22.04.1965 |
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Date of Appointment : |
01.12.2001 |
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DIN No.: |
00591996 |
KEY EXECUTIVES
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Name : |
Mr. Vinod |
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Designation : |
Company Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2011
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Names of Shareholders |
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No. of Shares |
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Namdev Dayaram Moryani |
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18172 |
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Suresh Dayaram Moryani |
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18172 |
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Naresh Dayaram Moryani |
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18172 |
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bharti Suresh Moryani |
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18172 |
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Dayaram Sachimal Moryani |
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7 |
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Gayatri Naresh Moryani |
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18172 |
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Kirti
Laxman Moryani |
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18172 |
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Lacchu
Dayaram Moryani (HUF) |
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1 |
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Lacchu
Dayaram Moryani |
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18172 |
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Om
Dayaram Moryani |
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18172 |
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Parvati
Shankar Moryani |
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6172 |
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Saioni
Namdev Moryani |
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18172 |
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Lalji
Shamji Thakkar |
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100 |
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Om
Dayaram Moryani |
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30172 |
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Total
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200000 |
AS ON 21.09.2011
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader and Importer of Computer Peripherals. |
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Imports |
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Products : |
Computer Parts |
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Countries : |
China |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
Retailers and End Users |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
· The Shamrao Vithal Co-operative Bank, Market Yard Branch, Pune – 411 002, Maharashtra, India Tel No.: 91-20-24215076 · Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, India · Punjab National Bank · ICICI bank |
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Facilities : |
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Banking
Relations : |
--- |
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Financial Institution : |
3i infotech services Limited, 3rd to 6th
Floor, international Infotech Park, Tower No. 5, Vashi Railway Station
Complex, Vashi, Navi Mumbai – 400 703, Maharashtra, India |
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Auditors : |
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Name : |
Vipin Gujarthi and Company Chartered Accountants |
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Address : |
Poonam Plaza, Office No. 403/4/5, Market Yard Road, Pune – 411037,
Maharashtra, India |
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Tel No.: |
91-20-24275398 / 24275399 |
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PAN No.: |
AAFFV6653B |
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Associates/Subsidiaries : |
Activity
:
Repairing and Support of Services |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.000
millions |
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NOTES:
Reconciliation of Shares
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Particulars |
No. of Shares |
Rs. In Millions |
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Opening share capital |
200000 |
2.000 |
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Add shares issued during the year |
-- |
-- |
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Add rights/Bonus shares issued |
-- |
-- |
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Total |
200000 |
2.000 |
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Less buy back of shares |
-- |
-- |
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Less reduction in capital |
-- |
-- |
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Closing share capital |
200000 |
2.000 |
List of share holders
having 5% or more shares
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Particulars |
No. of Shares |
In % |
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Namdev Moryani |
18172 |
9.09 |
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Suresh Moryani |
18172 |
9.09 |
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Naresh Moryani |
18172 |
9.09 |
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Bharti Moryani |
18172 |
9.09 |
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Gayatri Moryani |
18172 |
9.09 |
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Kirti Moryani |
18172 |
9.09 |
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Laxman Moryani |
18172 |
9.09 |
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Om Moryani |
18172 |
9.09 |
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Saloni Moryani |
18172 |
9.09 |
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Om Moryani |
30172 |
15.09 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.000 |
2.000 |
2.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
13.511 |
10.123 |
6.991 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.511 |
12.123 |
8.991 |
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LOAN FUNDS |
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1] Secured Loans |
49.844 |
44.808 |
25.652 |
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2] Unsecured Loans |
19.930 |
15.642 |
10.043 |
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TOTAL BORROWING |
69.774 |
60.450 |
35.695 |
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DEFERRED TAX LIABILITIES |
0.691 |
0.594 |
0.516 |
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TOTAL |
85.976 |
73.167 |
45.202 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.829 |
13.582 |
14.615 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.188 |
1.188 |
0.050 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
88.800
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67.214 |
41.500 |
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Sundry Debtors |
48.316
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48.930 |
23.618 |
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Cash & Bank Balances |
11.975
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11.616 |
3.113 |
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Other Current Assets |
0.046
|
0.038 |
0.000 |
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Loans & Advances |
7.189
|
4.218 |
4.071 |
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Total
Current Assets |
156.326
|
132.016 |
72.302 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
79.868 |
69.038 |
38.358 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
6.499
|
4.581 |
3.407 |
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Total
Current Liabilities |
86.367
|
73.619 |
41.765 |
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Net Current Assets |
69.959
|
58.397 |
30.537 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
85.976 |
73.167 |
45.202 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
711.524 |
670.865 |
393.660 |
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Other Income |
4.769 |
4.074 |
3.623 |
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TOTAL (A) |
716.293 |
674.939 |
397.283 |
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Less |
EXPENSES |
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Cost of Material consumed |
682.648 |
644.188 |
372.858 |
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Sales and Administrative Expenses |
20.142 |
20.162 |
15.962 |
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TOTAL (B) |
702.790 |
664.350 |
388.820 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.503 |
10.589 |
8.463 |
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Less |
FINANCIAL
EXPENSES (D) |
7.459 |
4.993 |
4.957 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.044 |
5.596 |
3.506 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.000 |
1.086 |
1.202 |
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PROFIT BEFORE
TAX (E-F) (G) |
5.044 |
4.510 |
2.304 |
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Less |
TAX (H) |
1.656 |
1.378 |
0.720 |
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PROFIT AFTER TAX
(G-H) (I) |
3.388 |
3.132 |
1.584 |
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Earnings Per
Share (Rs.) |
17.00 |
16.00 |
NA |
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Particulars |
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|
31.03.2013 |
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Sales Turnover [Approximately] |
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|
720.000 |
The above information has been parted by Mr. Naresh Moryani.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
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PAT / Total Income |
(%) |
0.47 |
0.46 |
0.40 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.71 |
0.67 |
0.59 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.95 |
3.10 |
2.65 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.37 |
0.26 |
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Debt Equity Ratio (Total Liability/Networth) |
|
10.07 |
11.06 |
8.62 |
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Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.79 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
sundry creditors
(Rs.
In millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry
Creditor |
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- Purchases of goods |
78.982 |
67.371 |
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- Others |
0.886 |
1.667 |
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Total |
79.868 |
69.038 |
38.358 |
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Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
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1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
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11] |
Turnover of firm for last
three years |
Yes |
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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 |
Yes |
|
17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
-- |
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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 |
No |
|
Unsecured Loans |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Bharati Moryani |
1.262 |
1.647 |
|
Gayatri N Moryani |
1.111 |
1.311 |
|
Jyoti O Moryani |
1.248 |
1.126 |
|
Kirti Moryani |
1.116 |
1.007 |
|
Kumar D Moryani |
0.000 |
0.929 |
|
Lacchu Moryani (Huf) |
0.000 |
0.587 |
|
Laxman D Moryani |
1.477 |
0.583 |
|
Naam Moryani |
0.713 |
0.384 |
|
Naam Moryani (Huf) |
0.899 |
0.812 |
|
Naresh Moryani |
0.032 |
0.182 |
|
Naresh Moryani (Huf) |
0.285 |
0.258 |
|
Om Moryani |
0.269 |
0.182 |
|
Om Moryani (Huf) |
0.169 |
0.161 |
|
Parvati S Moryani |
1.696 |
1.431 |
|
Saloni S Moryani |
3.223 |
2.588 |
|
Shankar Moryani |
2.107 |
1.792 |
|
Suresh Moryani |
0.182 |
0.182 |
|
Suresh Moryani (Huf) |
0.496 |
0.447 |
|
Thakkar Lalji |
1.595 |
0.033 |
|
Uttam Moryani |
2.050 |
0.000 |
|
Total
|
19.930 |
15.642 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U72200pn2000ptc04469 |
|
Name of the company |
BABA INFOTECH PRIVATE LIMITED |
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Address of the registered office or of the principal place of business in India of the company |
204 Nanapeth, Pune – 411 002, Maharashtra, India E-mail Id : accounts@babacomputers.com |
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This form is for |
Modification of charge |
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Charge identification (ID) number of the charge to be modified |
10216099 |
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Type of charge |
Immovable property |
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Particular of charge holder |
Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra, India E-Mail Id : sme.form8@sc.com |
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Nature of instrument creating charge |
Memorandum of Entry - Supplemental |
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Date of instrument Creating the charge |
21/09/2012 |
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Amount secured by the charge |
Rs.53.000 Millions |
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Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As agreed by and with the Bank from time to time. Terms of Repayment: As agreed by and with the Bank from time to time. Margin As applicable, if any. Extent and Operation of the charge The Bank is having first and exclusive charge on the security given by the Company. |
|
Short particulars of the property charged (Including location of the property) |
Equitable Mortgage by way of first charge on a) Commercial property located at no. 10 and 10(part), 10/1, shop no.1/B wing, Gr. Floor, Parmar Trade Centre, Sadhu Vaswani Chowk, Connaught Road, Camp, Pune Cantonment, Pune 411 001 b) Commercial property located at shop no. 15 (including store room) CTS No. 470, Dattatraya Niwas Co- Op Hsg Soc, back side of Kulkarni Petrol Pump, Kumtekar Road, Sadashiv Peth, Pune 411 030 c) Commercial property located at shop no. 5, Madhuram Co-Op Hsg Soc Limited, Opposit PMC Water Pumping Station, Sinhagad Road, Near Bhandari Hotel, Survey no. 124, Hissa no. 3A and 3B, plot 546 of town planning scheme no.3, sub divided plot no. 7A and 8A, village Parvati, Pune 411 030 d) Commercial property located at shop no. 6, Madhuram Co-Op Hsg Soc Limited, Opposite PMC Water Pumping Station, Sinhagad Road, Near Bhandari Hotel, Survey no. 124, Hissa no. 3A and 3B, plot 546 of town planning scheme no.3, sub divided plot no. 7A and 8A, village Parvati, Pune 411 030. e) Commercial property located at shop no. 4, Bhagyanagari CHS., CTS No.1577, Tilak Road, Sadashiv Peth, Pune 411030 f) Commercial property located at shop no. 11, Bhagyanagari CHS., CTS No.1577, Tilak Road, Sadashiv Peth, Pune 411030 |
|
Date of instrument modifying the charge |
30.04.2012 |
|
Particulars of the present modification |
The existing charge amt of Rs.4.75 Crs enhanced to Rs.5.31 Crs and secured with immovable properties of the Company as mentioned in sr.no. 15 and more described in MOE - Supplemental dated 21.09.2012. |
fixed assets:-
· Air Conditioner
· Computer
· Computer Software
· Electrical Installation
· Furniture and Fixture
· Fax Machines
· Mobile Handset
· Inverter
· Generator
· Office Equipments
· Motor Car
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.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
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 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.