MIRA INFORM REPORT

Report Date :

28.11.2013

IDENTIFICATION DETAILS

Name :	DATAMINI TECHNOLOGIES (INDIA) LIMITED
Formerly Known As :	GES TECHNOLOGIES LIMITED
Registered Office :	Unit No. 101/104, SDF IV, SEEPZ, Andheri (East), Mumbai – 400 096, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.01.1991
Com. Reg. No.:	11-059702
Capital Investment / Paid-up Capital :	Rs. 19.150 Millions
CIN No.: [Company Identification No.]	U30007MH1991PLC059702
TAN No.: [Tax Deduction & Collection Account No.]	MUMR08240B
PAN No.: [Permanent Account No.]	AABCG3515E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Computer Systems and Accessories.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 400000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The financial of 2012 are not available with us whereas, the management has also failed to file the latest financial of 2013, with the government department. As per the available record of 2011 the profit margin of the company is low. However, networth of the company appears to be decent. Trade relations are fair. Business is active. Payment terms are unknown. In view of non availability of financials, 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.

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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

Name :	Mr. Deepal Varia
Designation :	Account Executive
Contact No.:	91-22-28290296
Date :	25.11.2013

LOCATIONS

Registered / Head Office :	Unit No. 101/104, SDF IV, SEEPZ, Andheri (East), Mumbai – 400 096, Maharashtra, India
Tel. No.:	91-22-28290296/ 28324697/ 40428888
Fax No.:	91-22-28290145/ 28213296
E-Mail :	krishnan@datamini.co.in deepak_varia@datamini.co.in pahuja@datamini.co.in
Website :	www.datamini.co.in
Area :	3500 sq ft
Location :	Rented
Factory :	Unit No. 2, Amita Complex, Opposite Laxman Weigh Bridge, Dapoda Road, Val Village, Anjur Phata, Taluka Bhiwandi, District Thane, Maharashtra, India
Service Centre :	C-117, Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri (East), Mumbai - 400 072, Maharashtra, India
Tel. No.:	91-22-32568511/ 28473782/ 28476071/ 40053782
E-Mail :	gesservice@datamini.co.in (Customer Support)
Warehouse :	Unit No. 1, Ground Floor, Amita Complex, Opposite Laxman Weigh Bridge, Dapoda Road, Val Village, Anjur Phata, Taluka Bhiwandi, District Thane, Maharashtra, India
E-Mail :	gesvasai@datamini.co.in
Branch Office :	Bangalore: 253-58,1st Floor,Sajjan Rao Circle .Chakravarthy Complex V. V. Puram, Banglore – 560 004, Karnataka India Tel No.: 91-80-41554358 Email : gesbang@datamini.co.in Kolkata: 3D, 3rd Floor, Anurag Apartments, 125 Rahasbihary Avenue, Kolkata – 700 029, West Bengal, India Email : pratik@datamini.co.in kolkata@datamini.co.in Hyderabad: 376,3rd Floor, Chenoy Trade Centre Park Lane, Secunderabad – 500 003 Andhra Pradesh, India Tel No.: 91-40-27840567 Email : geshyd@datamini.co.in New Delhi: 23, CSC, E- Block , East of Kailash , New Delhi -110 065, India Tel No.: 91-11-30823410

DIRECTORS

As on 21.09.2012

Name :	Mr. Pitamber Gopaldas Ahuja
Designation :	Director
Address :	Flat No.14, Navbahar Building, Plot No.464, S.S. VIII, 15^th road, Khar (West), Mumbai – 400 062, Maharashtra, India
Date of Birth/Age :	24.06.1954
Date of Appointment :	19.07.1991
DIN No.:	00012549
Name :	Mr. Kunal Pitamber Ahuja
Designation :	Director
Address :	502, Gabbana House, 15^th road, Khar (West), Mumbai – 400 062, Maharashtra, India
Date of Birth/Age :	21.05.1987
Date of Appointment :	16.01.2006
DIN No.:	00007073
Name :	Mr. Naresh Ramlabhaya Kapoor
Designation :	Director
Address :	# 45-07, International Plaza, 10, Anson Road, Singapore – 079903, Singapore
Date of Birth/Age :	15.08.1947
Date of Appointment :	22.04.1993
DIN No.:	00046554
Name :	Mrs. Prerna Naresh Kapoor
Designation :	Director
Address :	# 45-07, International Plaza, 10, Anson Road, Singapore – 079903, Singapore
Date of Birth/Age :	25.02.1982
Date of Appointment :	16.01.2006
DIN No.:	00047262

KEY EXECUTIVES

Name :	Mr. Deepal Varia
Designation :	Account Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 21.09.2012

Names of Shareholders	No. of Shares
Ahuja Gopaldas Pitamber HUF	12500
Ahuja Pitamber Krati	195521
Ahuja Pitamber Kunal	25000
Ahuja Pitamber Kunal	120000
Ahuja Pitamber Kunal	154521
Ahuja Gopaldas Pitamber	282200
Ahuja Gopaldas Pitamber	50350
Ahuja Pitamber Nikita	103300
Ahuja Pitamber Nikita	28500
Valona Technologies Pte Limited, Singapore	150000
Valona Technologies Pte Limited, Singapore	133200
Valona Technologies Pte Limited, Singapore	334885
Asha Kapoor	325043

As on 21.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	32.28
Directors or relatives of Directors	67.72
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Computer Systems and Accessories.

Products :

ITC Code	Product Description
8471	Automatic Data Processing Machines and Units
8473	Computer Parts and Accessories

Exports :

Products :

Finished Goods

Countries :

· Singapore

· Hong Kong

Imports :

Products :

Raw Materials

Countries :

· China

· Hong Kong

Terms :

Selling :

L/C / Cash / Credit

Purchasing :

L/C / Cash / Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

60 (Approximately)

Bankers :

· Central Bank of India, SEEPZ Branch, Marol, Andheri (East), Mumbai – 400 096, Maharashtra, India

Tel. No.: 91-22-22824011

· Punjab National Bank, Offshore Banking Unit, Seepz, Andheri (East), Mumbai – 400096, Maharashtra, India

· Union Bank of India, Mumbai Samachar Marg Branch, 66/80 Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Working Capital Loans Banks Secured	0.000	5.496
Total	0.000	5.496
NOTE: Secured by charge on Block of Assets at SEEPZ and Hypothecation of Stock in Trade and book debts. I) Charge on block of assets and unit situated at C-117, Ansa Industrial Estate, Andheri (East), Mumbai – 400072, Maharashtra, India II) Personal Guarantees by Two Directors.

Banking Relations :	--
Auditors :
Name :	V.C. Shah and Company Chartered Accountants
Address :	3^rd Floor, Rajgir Chambers, 12/ 14, Sahid Bhagat Singh Road, Opposite Old Custom House, Mumbai – 400 001, Maharashtra, India
Tel. No.:	91-22-22634021
Fax No.:	91-22-22662667
PAN No.:	AADFV8088N
Associates :	· Orbit Peripherals Pte Limited, Singapore · DCPL Compuwiz Private Limited, India · Riddhi Enterprises, India

CAPITAL STRUCTURE

As on 21.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1915030	Equity Shares	Rs.10/- each	Rs.19.150 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		19.150	19.150	19.150
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		81.724	80.193	78.241
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		100.874	99.343	97.391
LOAN FUNDS
1] Secured Loans		0.000	5.496	38.862
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	5.496	38.862
DEFERRED TAX LIABILITIES		4.003	4.723	5.644
TOTAL		104.877	109.562	141.897
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		18.790	20.832	31.572
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.500	0.500	0.500
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	29.106	27.000	44.166
	Sundry Debtors	201.116	102.774	114.901
	Cash & Bank Balances	8.080	3.947	22.104
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	16.002	17.936	26.710
Total Current Assets		254.304	151.657	207.881
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	165.334	59.040	96.975
	Other Current Liabilities	1.779	3.264	2.322
	Provisions	7.022	7.895	5.531
Total Current Liabilities		174.135	70.199	104.828
Net Current Assets		80.169	81.458	103.053
MISCELLANEOUS EXPENSES		5.418	6.772	6.772
TOTAL		104.877	109.562	141.897

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales and Services	1166.303	1006.013	845.703
		Other Income	2.194	3.937	6.386
		TOTAL (A)	1168.497	1009.950	852.089
Less	EXPENSES
		Consumption Materials Changes Inventories	1134.182	964.309
		Manufacturing Service Costs	1.919	11.700
		Employee Related expenses	11.042	10.301
		Administrative Selling and Other Expenses	14.632	14.366	843.129
		Extraordinary Items	(0.543)	0.000
		Prior period Items	0.732	0.060
		TOTAL (B)	1161.964	1009.736	843.129
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.533	9.214	8.960
Less	FINANCIAL EXPENSES (D)		0.615	2.872	4.336
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.918	6.342	4.624
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.907	3.401	3.759
	PROFIT BEFORE TAX (E-F) (G)		3.011	2.941	0.865
Less	TAX (H)		1.479	0.990	0.861
	PROFIT AFTER TAX (G-H) (I)		1.532	1.951	0.004
	PRIOR YEAR INCOME/EXPENSES (NET)		--	--	(0.103)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		49.526	47.575	47.729
	APPROPRIATIONS
		Tax for earlier year	0.000	0.000	0.055
	BALANCE CARRIED TO THE B/S		51.058	49.526	47.575
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	236.494	97.549	136.147
		For Services	0.000	0.567	0.446
	TOTAL EARNINGS		236.494	98.116	136.593
	IMPORTS
		Raw Materials	213.328	222.513	152.725
	TOTAL IMPORTS		213.328	222.513	152.725
	Earnings / (Loss) Per Share (Rs.)		0.80	1.02	0.002

Particulars	31.03.2013	31.03.2012
Sales Turnover (Approximately)	1320.000	1220.000

The above information has been parted by Mr. Deepal Varia.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.13	0.19	0.00
Net Profit Margin (PBT/Sales)	(%)	0.26	0.29	0.10
Return on Total Assets (PBT/Total Assets}	(%)	1.10	1.71	0.36
Return on Investment (ROI) (PBT/Networth)		0.03	0.03	0.01
Debt Equity Ratio (Total Debt /Networth)		0.00	0.06	0.40
Current Ratio (Current Asset/Current Liability)		1.46	2.16	1.98

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT: NOT AVAILABLE

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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	----------------------
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]	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

HIGHLIGHT ON OPERATIONS:

During the year the company has achieved a turnover of sales and service of Rs.1166.303 Millions (Rs.1006.013 Millions). During the year, the company has been able to penetrate successfully government/semi government segment. The company has made an operational profit of Rs.4.555 Millions (Rs.3.002 Millions). The operational profit of the company during the year has been affected primarily due to the recession in the economy.

CURRENT YEAR OUTLOOK:

During the year the company has focused its attention on government/semi government segment, having already established the branch the company has been able to successfully penetrate the market for sale of Notebook Computer the same brand “DATAMINI”. During the year, the company has been able to renew the "RATE CONTRACT' with DGS&D (Directorate General for supply and disposal) which has enhanced the company's business and has provided the opportunity to penetrate the Government / Semi Government undertakings.

CONTINGENT LIABILITIES IN RESPECT OF:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)
Letter of credit and guarantees by banks	9.584	3.626

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10378841	06/09/2012	20,000,000.00	CENTRAL BANK OF INDIA	SEEPZ , M.I.D.C. MAROL, ANDHERI (EAST), MUMBAI,  MAHARASHTRA - 400096, INDIA	B59011213
2	10359562	15/05/2012	30,000,000.00	CENTRAL BANK OF INDIA	SEEPZ , M.I.D.C. MAROL, ANDHERI (EAST), MUMBAI,  MAHARASHTRA - 400096, INDIA	B41179151
3	80003499	18/03/2006 *	10,500,000.00	CENTRAL BANK OF INDIA	SEEPZ , M.I.D.C. MAROL, ANDHERI (EAST), MUMBAI,  MAHARASHTRA - 400096, INDIA	A01004365
4	80003501	18/03/2006 *	10,000,000.00	CENTRAL BANK OF INDIA	SEEPZ , M.I.D.C. MAROL, ANDHERI (EAST), MUMBAI,  MAHARASHTRA - 400096, INDIA	-

* Date of charge modification

FIXED ASSETS

· Land

· Building

· Office Equipments

· Factory Equipments

· Plant and Machinery

· Computer

· Vehicle

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 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.62.36
UK Pound	1	Rs.101.11
Euro	1	Rs.84.68

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	NTH

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	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		33

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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