|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
AAYUSH IMPEX |
|
|
|
|
Registered Office : |
F-28/29, APMC Fruit Market, Sector - 19, Turbhe Vashi, Navi Mumbai –
400 703, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Year of Establishment : |
1965 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.8.873 Millions |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business : |
Trader and Importer of all types of Fresh Fruits. |
|
|
|
|
No. of Employees : |
32 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 35000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established proprietary concern having a satisfactory track record. Trade relations
are fair. Business is active. Payment terms are reported to be slow but
correct. The concern can
be considered for business dealings at usual trade terms and condition. NOTE: As claimed by Mr.
Sunil J. Sachdev, Proprietor that subject is preparing consolidate Balance Sheet
of Aayush Impex and Jhulelal Fruit, both are sister concern companies. They
don't prepare separate Balance Sheet for each of them. Aayush Impex looks
after international trading and Jhulelal Fruit looks after local trading. |
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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. Sunil J. Sachdev |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9820155085 |
|
Date : |
30.05.2014 |
LOCATIONS
|
Registered Office/ Head Office : |
F-28/29, APMC Fruit Market, Sector - 19, Turbhe Vashi, Navi Mumbai –
400 703, Maharashtra, India |
|
Tel. No.: |
91-22-27841350/ 27849835 |
|
Mobile No.: |
91-9820155085 (Mr. Sunil J. Sachdev) |
|
Fax No.: |
91-22-27848675/ 27848679 |
|
E-Mail : |
|
|
Area : |
1800 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
F-43, APMC Fruit Market, Sector - 19, Turbhe Vashi, Navi Mumbai – 400
703, Maharashtra, India |
|
Area : |
600 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
C- 96, New Fruit Market, Azadpur, Delhi – 110 033, India |
|
Tel. No.: |
91-11-27675344 |
|
Area : |
2400 sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Sunil J. Sachdev |
|
Designation : |
Proprietor |
|
Address : |
404, Jethanand Apartment, Opposite UMC, Ullasnagar – 421 003,
Maharashtra, India |
|
Date of Birth/Age : |
44 Years |
|
Qualification : |
HSC |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of all types of Fresh Fruits. |
|
|
|
|
Exporter : |
|
|
Products : |
Finished Goods |
|
Countries : |
Gulf Countaries |
|
|
|
|
Imports : |
|
|
Products : |
Fresh Fruits |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days/ 60 days) |
|
|
|
|
Purchasing : |
L/C and TT |
GENERAL INFORMATION
|
Suppliers : |
·
Dovex Export Company – USA |
|
|
|
|
Customers : |
Wholesalers and Retailers ·
Godrej Nature's Basket ·
Wal-Mart |
|
|
|
|
No. of Employees : |
32 (Approximately) |
|
|
|
|
Bankers : |
Tamilnad Mercantile Bank Limited, Vashi Branch, Navi Mumbai,
Maharashtra, India HDFC Bank, APMC Market Branch, Navi Mumbai, Maharashtra, India |
|
|
|
|
Facilities : |
CC Rs. 30.000 Millions |
|
Banking
Relations : |
-- |
||||||
|
|
|
||||||
|
Auditors : |
|
||||||
|
Name : |
V.A. Dodeja and Company Chartered Accountants |
||||||
|
|
|
||||||
|
Sister Concerns: |
|
CAPITAL STRUCTURE
As on 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs.8.873 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.8.873
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
1000.000 |
|
|
|
|
|
The above information has been parted by Mr. Sunil J. Sachdev
Note:
·
Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
·
Subject is
preparing consolidate Balance Sheet of Aayush Impex and Jhulelal Fruit,
both are sister concern companies. They don't prepare separate Balance Sheet
for each of them. Aayush Impex looks after international trading and Jhulelal
Fruit looks after local trading.
JHULELAL
FRUITS AND AAYUSH IMPEX
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
|
|
8.873 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
8.873 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
28.222 |
|
|
2] Unsecured Loans |
|
|
4.273 |
|
|
TOTAL BORROWING |
|
|
32.495 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
41.368 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
10.938 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.289 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
20.064 |
|
|
Sundry Debtors |
|
|
26.032 |
|
|
Cash & Bank Balances |
|
|
5.737 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
4.437 |
|
Total
Current Assets |
|
|
56.270 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
26.004 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
2.125 |
|
Total
Current Liabilities |
|
|
28.129 |
|
|
Net Current Assets |
|
|
28.141 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
41.368 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
859.458 |
|
|
|
Other Income |
|
|
2.786 |
|
|
|
TOTAL |
|
|
862.244 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
|
536.034 |
|
|
|
Agency Expenses |
|
|
2.608 |
|
|
|
Container Transport Charges |
|
|
3.863 |
|
|
|
Custom Duty |
|
|
234.047 |
|
|
|
Dock Expenses |
|
|
4.606 |
|
|
|
Insurance Expenses |
|
|
0.183 |
|
|
|
Lorry Fare |
|
|
4.179 |
|
|
|
S C O Expenses |
|
|
16.465 |
|
|
|
Cold Store Rent |
|
|
9.335 |
|
|
|
Miscellaneous P Q Expenses |
|
|
0.002 |
|
|
|
Cold Store Hamali |
|
|
3.822 |
|
|
|
Warehouse Expenses |
|
|
18.966 |
|
|
|
A C Expenses |
|
|
0.034 |
|
|
|
Advertisement |
|
|
0.001 |
|
|
|
Air Freight |
|
|
0.085 |
|
|
|
Airport Expenses |
|
|
0.159 |
|
|
|
Balance w/off |
|
|
0.007 |
|
|
|
Bank Charges |
|
|
1.312 |
|
|
|
Bank Interest |
|
|
0.517 |
|
|
|
Bardana Expenses |
|
|
0.706 |
|
|
|
Electricity Fitting Expenses |
|
|
0.022 |
|
|
|
Bonus |
|
|
0.141 |
|
|
|
Food Safety License Charges |
|
|
0.038 |
|
|
|
Foreign Exchange Fluctuation |
|
|
0.027 |
|
|
|
Car Maintenance Expenses |
|
|
0.103 |
|
|
|
Cold Storage |
|
|
0.072 |
|
|
|
Computer Expenses |
|
|
0.119 |
|
|
|
Conveyance Expenses |
|
|
0.564 |
|
|
|
J B Boda Surveyour |
|
|
0.097 |
|
|
|
Discount |
|
|
0.003 |
|
|
|
Diwali Expenses |
|
|
0.170 |
|
|
|
Donation |
|
|
0.062 |
|
|
|
Electricity Bill |
|
|
0.688 |
|
|
|
Hamali |
|
|
0.565 |
|
|
|
MAPMC Charges |
|
|
0.150 |
|
|
|
Insurance |
|
|
0.137 |
|
|
|
Interest Paid |
|
|
0.672 |
|
|
|
Jeep Maintenance |
|
|
0.057 |
|
|
|
Laboratory Expenses |
|
|
0.853 |
|
|
|
Membership and Subscription |
|
|
0.113 |
|
|
|
Legal Fee |
|
|
0.198 |
|
|
|
Lorry Expenses |
|
|
3.223 |
|
|
|
Local Transport |
|
|
0.201 |
|
|
|
Packing Material |
|
|
0.080 |
|
|
|
Maintenance |
|
|
0.124 |
|
|
|
Market Samiti |
|
|
1.813 |
|
|
|
MVMULB Charges |
|
|
0.410 |
|
|
|
Miscellaneous Expenses |
|
|
0.117 |
|
|
|
NMMC |
|
|
0.004 |
|
|
|
Mukadami |
|
|
0.045 |
|
|
|
Parking Vehicle Expenses |
|
|
0.026 |
|
|
|
Office Expenses |
|
|
0.104 |
|
|
|
Overseas Party Arrg. in Hotel |
|
|
0.093 |
|
|
|
Pest Control |
|
|
0.016 |
|
|
|
Pay and A/c Officer Agri Mumbai |
|
|
1.295 |
|
|
|
Permit Expenses |
|
|
0.050 |
|
|
|
Petrol Expenses |
|
|
0.601 |
|
|
|
Shop Rent |
|
|
0.010 |
|
|
|
Post |
|
|
0.062 |
|
|
|
Railway Fare |
|
|
0.187 |
|
|
|
Salaries |
|
|
3.881 |
|
|
|
Sc S Agri Business Dil |
|
|
0.006 |
|
|
|
Service Tax |
|
|
0.327 |
|
|
|
Staff Welfare Expenses |
|
|
0.515 |
|
|
|
Staff Insurance |
|
|
0.056 |
|
|
|
Staff Overtime |
|
|
0.010 |
|
|
|
Stamp Duty |
|
|
0.685 |
|
|
|
Survey Expenses |
|
|
0.153 |
|
|
|
Stationery Printing |
|
|
0.186 |
|
|
|
Shop Repair |
|
|
0.153 |
|
|
|
Sundry Expenses |
|
|
0.383 |
|
|
|
Telephone Expenses |
|
|
0.500 |
|
|
|
Tempo Expenses |
|
|
0.030 |
|
|
|
Travelling |
|
|
0.576 |
|
|
|
Vehicle Maintenance |
|
|
0.044 |
|
|
|
Visa Expenses |
|
|
0.000 |
|
|
|
Wages |
|
|
0.067 |
|
|
|
Water Expenses |
|
|
0.043 |
|
|
|
TOTAL |
|
|
857.858 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
4.386 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
1.170 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) |
|
|
3.216 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
0.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
4.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
3.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.00 |
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 |
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
two years |
Yes |
|
12] |
Profitability for last
one year |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
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 |
TRADE REFERENCES:
· Dovex Export Company – USA
·
Godrej Nature's Basket
·
Wal-Mart
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.59.21 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
42 |
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.