MIRA INFORM REPORT
|
Report Date : |
18.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
GRACEWORKS REALTY AND LEISURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Phoenix Mills Premises, 462 Senapati Bapat Marg, Lower Parel, Mumbai –
400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.04.2000 |
|
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|
Com. Reg. No.: |
11-126232 |
|
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.676 Million |
|
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|
|
CIN No.: [Company Identification
No.] |
U72900MH2000PTC126232 |
|
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|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG11322D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG2308P |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Construction Activity. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated on 28th April
2000, it has recently commenced its business operations. It is having
moderate track record. As claimed by Mr. Vivek, Finance executive that company has started
its business operation from October 2014. As per available financial record of 2014, the company has incurred a
huge accumulated loss which has eroded net worth of the company. Business is active. Payments are reported to be slow. The company can be considered for business dealings on safe and
secured trade terms and conditions. |
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the Companies
Act is the latest manifestation of a messy fight between a father and his
adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
Not Available
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Vivek |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-30016600 |
|
Date : |
17.11.2014 |
LOCATIONS
|
Registered Office : |
Phoenix Mills Premises, 462 Senapati Bapat Marg, Lower Parel, Mumbai –
400013, Maharashtra, India |
|
Tel. No.: |
91-22-30016600 |
|
Fax No.: |
91-22-30016818 |
|
E-Mail : |
corpaffairs@highstreetphoenix.com |
|
|
|
|
Branch Office : |
Marketcity Resources Private Limited, Shree Laxmi Woolen Mills
Compound, Mumbai – 400012, Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Haresh Zilu Morajkar |
|
Designation : |
Director |
|
Address : |
301, Narendra Apartment, Jay Prakash Nagar, Road No.3, Goregaon
(East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
06.11.1966 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
00074983 |
|
|
|
|
Name : |
Mr. Hasit Kanaiyalal Parikh |
|
Designation : |
Director |
|
Address : |
402, Paradise Apartment, 7th Road, Santacruz (East), Mumbai
– 400055, Maharashtra, India |
|
Date of Birth/Age : |
06.08.1967 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
01641505 |
|
|
|
|
Name : |
Mrs. Vidya Sagar Pingali |
|
Designation : |
Director |
|
Address : |
Flat No.007, Block - B, Maithri Pride, 5th Main Malleshpalya, Bangalore
560075, Karnataka, India |
|
Date of Birth/Age : |
16.01.1965 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
02710397 |
|
|
|
|
Name : |
Mr. Dipesh Kumar Gandhi |
|
Designation : |
Director |
|
Address : |
Ti-31-BA, Datta Apartment, Ramakrishna Mishan Marg (DA) Khar (PA),
Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1976 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
02079576 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek |
|
Designation : |
Finance |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Phoenix Hospitality Company Private Limited, India
|
52250 |
77.33 |
|
HBS Realtors Private Limited, India |
15318 |
22.67 |
|
Total |
67568 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity. |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Financial Institution : |
· IL and FS Trust Company Limited, IL and FS, Financial Centre, Plot No.C-22, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
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Auditors : |
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|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715 Tulsiani Chambers 212
Nariman Point, Mumbai 400021, Maharashtra, India |
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PAN No.: |
AAAFC0662N |
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Ultimate Holding
company: |
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Holding company: |
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Fellow Subsidiary
company: |
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Others: |
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CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
67568 |
Equity Shares |
Rs.10/- each |
Rs. 0.676 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.676 |
0.676 |
0.676 |
|
(b) Reserves &
Surplus |
(1.113) |
9.165 |
11.241 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
(0.437) |
9.841 |
11.917 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1720.000 |
677.778 |
1127.778 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
584.326 |
9.869 |
0.000 |
|
(d) long-term provisions |
0.532 |
0.282 |
0.039 |
|
Total Non-current
Liabilities (3) |
2304.858 |
687.929 |
1127.817 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
454.500 |
80.000 |
0.000 |
|
(b) Trade payables |
49.843 |
14.494 |
56.689 |
|
(c) Other current
liabilities |
552.205 |
1629.451 |
673.901 |
|
(d) Short-term provisions |
0.140 |
0.243 |
0.001 |
|
Total Current Liabilities
(4) |
1056.688 |
1724.188 |
730.591 |
|
|
|
|
|
|
TOTAL |
3361.109 |
2421.958 |
1870.325 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.697 |
1.379 |
1.110 |
|
(ii) Intangible Assets |
1.346 |
1.269 |
0.754 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
2.817 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
6.637 |
1.679 |
0.453 |
|
(d) Long-term Loan and Advances |
10.070 |
10.060 |
10.060 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
19.750 |
14.387 |
15.194 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3171.414 |
2353.721 |
1747.159 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
143.894 |
26.183 |
94.920 |
|
(e) Short-term loans and
advances |
25.430 |
27.510 |
12.979 |
|
(f) Other current assets |
0.621 |
0.157 |
0.073 |
|
Total Current Assets |
3341.359 |
2407.571 |
1855.131 |
|
|
|
|
|
|
TOTAL |
3361.109 |
2421.958 |
1870.325 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
0.972 |
1.856 |
2.196 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
16.237 |
5.158 |
12.275 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(15.265) |
(3.302) |
(10.079) |
|
|
|
|
|
|
|
Less |
TAX |
(4.958) |
(1.227) |
(0.452) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(10.307) |
(2.075) |
(9.627) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(152.54) |
(30.71) |
(142.480 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(1060.39) |
(111.80) |
(438.39) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.46) |
(0.14) |
(0.54) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
34.93 |
(0.34) |
(0.85) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(4975.97) |
77.00 |
94.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.16 |
1.40 |
2.54 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.676 |
0.676 |
0.676 |
|
Reserves & Surplus |
11.241 |
9.165 |
(1.113) |
|
Net worth |
11.917 |
9.841 |
(0.437) |
|
|
|
|
|
|
long-term borrowings |
1127.778 |
677.778 |
1720.000 |
|
Short term borrowings |
0.000 |
80.000 |
454.500 |
|
Total borrowings |
1127.778 |
757.778 |
2174.500 |
|
Debt/Equity ratio |
94.636 |
77.002 |
(4,975.973) |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2.196 |
1.856 |
0.972 |
|
|
|
(15.483) |
-(7.629) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2.196 |
1.856 |
0.972 |
|
Profit |
(9.627) |
(2.075) |
(10.307) |
|
|
(438.39%) |
(111.80%) |
(1060.39%) |
LOCAL AGENCY FURTHER INFORMATION
Current maturities of long term debts: - 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 |
No |
|
5] |
Type
of Business |
Yes |
|
6] |
Line
of Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No.
of employees |
No |
|
9] |
Name
of person contacted |
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 |
No |
|
20] |
Export
/ Import details (if applicable) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
---------------------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct
of the banking account |
---------------------- |
|
26] |
Buyer
visit details |
---------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last
accounts filed at ROC |
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 |
Note:
The Registered office of the company has been shifted 122, 123 Udyog
Bhavansonawala Lane Goregaon (East), Mumbai – 400063, Maharashtra, India to the
present address w.e.f. 29.09.2007
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10483781 |
05/03/2014 |
1,850,000,000.00 |
INDUSIND BANK LTD. |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA |
C00022970 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully convertible debenture intercorporate |
0.000 |
77.778 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
454.500 |
80.000 |
|
Total |
454.500 |
157.778 |
FIXED ASSETS
- Land
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
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. 61.67 |
|
|
1 |
Rs. 96.39 |
|
Euro |
1 |
Rs. 77.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML / GYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.