MIRA INFORM REPORT

Report No. :	304999
Report Date :	29.01.2015

IDENTIFICATION DETAILS

Name :	HD FIRE PROTECT PRIVATE LIMITED (w.e.f.01.04.2005)
Formerly Known As :	D.H. FIRE PROTECT PRIVATE LIMITED
Registered Office :	K – 98, Ajanta Road, Jalgaon – 425003, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.04.1997
Com. Reg. No.:	11-107536
Capital Investment / Paid-up Capital :	Rs.12.500 Millions
CIN No.: [Company Identification No.]	U29270MH1997PTC107536
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	NSKD01560G
PAN No.: [Permanent Account No.]	AABCD0020D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture of fire fighting equipments.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well-established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered for business dealings at usual 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.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating cash credit = BB+ (Suspended)
Rating Explanation	Moderate risk of default.
Date	18.02.2013

Rating Agency Name	CRISIL
Rating	Short term rating = A4+ (Suspended)
Rating Explanation	Minimal degree pf safety and very high credit risk.
Date	18.02.2013

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 PARTED BY

Name :	Ms. Shipa
Designation :	Accounts
Contact No.:	91-22-25826958
Date :	27.01.2015

LOCATIONS

Registered Office / Manufacturing Plant :	K – 98, Ajanta Road, Jalgaon – 425003, Maharashtra, India
Tel. No.:	91-257-2211996 / 2211876
Fax No.:	91-257-2212396
E-Mail :	works@hdfire.com narendra@hdfire.com hrd@hdfire.com info@hdfire.com
Website :	www.hdfire.com
Corporate Office :	C – 3/6, The Nandanvan Industrial Estate, LBS Marg, Thane – 400604, Maharashtra, India
Tel. No.:	91-22-25826958/ 25826793/ 25821354
Fax No.:	91-22-25812524/ 55969049/ 67969049
E-Mail :	info@hdfire.com hrd@hdfire.com
Regional Office :	Located at · New Delhi · Chennai
Overseas Office :	Located at · Australia · Indonesia

DIRECTORS

As on 13.09.2014

Name :

Mr. Harish Narshi Dharamshi

Designation :

Managing Director

Address :

901, Rajyog Residency, Dr. Rajendra Prasad Road, Mulund (West), Mumbai – 400080, Maharashtra, India

Date of Birth/Age :

12.02.1954

Qualification :

B.E. (Mech.)

Date of Appointment :

01.04.2005

DIN No. :

00033062

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U29270MH1997PTC107536	HD FIRE PROTECT PRIVATE LIMITED	Managing director	01/04/2005	01/04/2005	-	Active	NO
2	U74140WB1979PTC031835	INTEGRATED MANAGEMENT SERVICES PRIVATE LIMITED	Director	29/02/2008	29/02/2008	10/12/2008	Active	NO
3	U24292WB1984PTC037286	INTEGRATED FIRE PROTECTION PRIVATE LIMITED	Managing director	18/09/2008	29/02/2008	10/12/2008	Active	NO

Name :

Mr. Narendra Visanji Dharamshi

Designation :

Chairman

Address :

A/20, Madhur Milan, 3^rd Floor, Mulund (West), R P Road, Mumbai – 400 080, Maharashtra, India

Date of Birth/Age :

11.05.1952

Date of Appointment :

24.04.1997

DIN No. :

00026005

Name :

Mr. Sushil Laxmichand Shah

Designation :

Director

Address :

NIKET Banglow, Plot No. 32/1, Ganpati Nagar, Opposite Rotary Hall, Road, Jalgaon – 425001, Maharashtra, India

Date of Birth/Age :

03.07.1961

Date of Appointment :

24.04.1997

DIN No. :

00032719

Name :

Mr. Miheer Sadanad Ghotikar

Designation :

Director

Address :

G-1, Gopal Vishnu Society, 31, Mahant Road, Vile Parle, Mumbai, Maharashtra, India

Date of Birth/Age :

03.10.1981

Date of Appointment :

01.01.2010

DIN No. :

02865076

Name :

Mr. Anik Narendra Dharamhi

Designation :

Director

Address :

A/20, Madhur Milan, Dr. Rajendra Prasad Road, Mulund (West), Mumbai – 400080, Maharashtra, India

Date of Birth/Age :

25.09.1983

Date of Appointment :

01.01.2010

DIN No. :

02153409

Other Directorship :

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24292WB1984PTC037286	INTEGRATED FIRE PROTECTION PRIVATE LIMITED	Director	29/02/2008	29/02/2008	10/12/2008	Active	NO
2	U29270MH1997PTC107536	HD FIRE PROTECT PRIVATE LIMITED	Director	01/01/2010	01/01/2010	-	Active	NO

MAJOR SHAREHOLDERS

As on 13.09.2014

Names of Shareholders	No. of Shares
Narendra Visanji Dharamshi	5000
Sushil Laxmichand Shah	5000
Bharati Sushil Shah	550
Sushil Shah as a Karta of Sushil Laxmichand Shah HUF	1000
Hiren Dharmashi as a Karta of Hiren Dharmashi HUF	1400
Frenal Rishi Lodaya	700
Harish Narshi Dharamshi	64790
Kusum Harish Dharamshi	42260
Ratanbai Narshi Dharamshi and Kusum Harish Dharamshi	100
Anik Narendra Dharamshi	4000
Parika Miheer Ghotikar	100
Miheer Sadanand Ghotikar	100
Total	125000

As on 13.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	98.08
Other top fifty shareholders	1.92
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacture of fire fighting equipments.
Products :	Spray Nozzles System Accessories Alarm Valves Sprinklers Monitors & Nozzles Foam Equipments Bladder Tanks & Foam Storage Tanks Foam Concentrates Gate Valves Mobile Equipments Custom Engineered Systems Pressure Gauges
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Fire Fighting Equipments
Countries :	Dubai Iran USA
Imports :
Products :	Sprinklers
Countries :	Taiwan
Terms :
Selling :	Not Available
Purchasing :	Not Available

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Available

Customers :

Not Available

No. of Employees :

150 (Approximately)

Bankers :

• Union Bank of India, Sai Arcade, N.S. Road, Mulund, Mumbai – 400080, Maharashtra, India
• Citi Bank, Trent House, 2^nd Floor, G Block, Plot No. C60, Bandra Kurla Complex, Bandra (E), Mumbai – 400051, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Term Loan from SIDBI	1.014	3.806
Vehicle Loan	0.000	0.019
SHORT TERM BORROWINGS
Cash credit from Citi Bank	0.000	4.603
Total	1.014	8.428

Auditors :
Name :	N. Chandulal and Company Chartered Accountants
Address :	88-94, Big Three Building, Anandilal Podar Marg, Dhobi Talao, Mumbai – 400002, Maharashtra, India
PAN No.:	AAIPS0425R
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	HD Electonics HD Fire Protect Pty Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.100/-each	Rs.15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
125000	Equity Shares	Rs.100/-each	Rs.12.500 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	12.500	12.500	12.500
(b) Reserves & Surplus	278.981	176.087	106.419
(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)	291.481	188.587	118.919
(3) Non-Current Liabilities
(a) long-term borrowings	26.492	30.103	35.171
(b) Deferred tax liabilities (Net)	4.960	3.838	3.914
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	31.452	33.941	39.085
(4) Current Liabilities
(a) Short term borrowings	5.000	14.603	73.409
(b) Trade payables	70.675	65.935	93.198
(c) Other current liabilities	30.960	22.240	20.531
(d) Short-term provisions	19.953	17.229	12.674
Total Current Liabilities (4)	126.588	120.007	199.812
TOTAL	449.521	342.535	357.816
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	109.064	65.495	61.571
(ii) Intangible Assets	3.691	4.159	4.487
(iii) Capital work-in-progress	18.699	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.054	0.056	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	2.059	2.140	2.136
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	133.567	71.850	68.194
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	105.919	95.335	102.286
(c) Trade receivables	171.086	148.104	158.991
(d) Cash and cash equivalents	20.220	15.799	18.481
(e) Short-term loans and advances	16.754	9.601	8.345
(f) Other current assets	1.975	1.846	1.519
Total Current Assets	315.954	270.685	289.622
TOTAL	449.521	342.535	357.816

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	904.316	739.764	656.065
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	171.161	117.298	82.333
Less	FINANCIAL EXPENSES	6.579	7.869	12.524
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	164.582	109.429	69.809
Less/ Add	DEPRECIATION/ AMORTISATION	10.820	10.227	9.415
	PROFIT/ (LOSS) BEFORE TAX	153.762	99.202	60.394
Less	TAX	51.626	32.552	19.790
	PROFIT/ (LOSS) AFTER TAX	102.136	66.650	40.604
	EARNINGS IN FOREIGN CURRENCY
	Export of own product at F.O.B. Value	251.970	184.578	130.026
	Export of Traded goods at F.O.B. Value	19.196	11.375	14.932
	Commission Income	0.411	0.901	0.000
	TOTAL EARNINGS	271.577	196.854	144.958
	IMPORTS
	Raw Materials	11.133	11.429	6.113
	Stock in Trade	110.909	94.389	73.116
	TOTAL IMPORTS	122.042	105.818	79.229
	Earnings / (Loss) Per Share (Rs.)	817.09	533.20	324.83

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	11.29	9.00	6.18
Operating Profit Margin (PBDIT/Sales)	(%)	18.92	15.85	12.54
Return on Total Assets (PBT/Total Assets}	(%)	35.69	28.97	16.88
Return on Investment (ROI) (PBT/Networth)		0.53	0.53	0.51
Debt Equity Ratio (Total Debts/Networth)		0.11	0.24	0.91
Current Ratio (Current Asset/Current Liability)		2.50	2.26	1.45

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	12.500	12.500	12.500
Reserves & Surplus	106.419	176.087	278.981
Net worth	118.919	188.587	291.481
long-term borrowings	35.171	30.103	26.492
Short term borrowings	73.409	14.603	5.000
Total borrowings	108.580	44.706	31.492
Debt/Equity ratio	0.913	0.237	0.108

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	656.065	739.764	904.316
		12.758	22.244

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	656.065	739.764	904.316
Profit	40.604	66.650	102.136
	6.19%	9.01%	11.29%

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	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	No
10]	Designation of contact person	No
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	Yes

PERFORMANCE REVIEW

The Company has successfully completed 17^th years of operation and has reported an encouraging performance for the year ended 31^st March 2014.

STANDALONE

During the year, the company’s performance has been excellent at standalone.

The company in the seventeenth year of its operations has maintained its leadership position in the market with robust growth in terms of Turnover, Profits, Net worth and Assets.

The Operating Revenue of Rs.904.316 Millions in the current year mark an increase of 22.24%as compared to the Operating Revenue of Rs.739.764 Millions in the previous year.

Profit before Interest, Depreciation and Tax at Rs.171.161 Millions for the current year has shown a growth of 45.92% when compared to Rs.117.298 Millions in the previous year.

The Net Profit after Tax has increased by 53.24% to Rs.102.136 Millions in the current year from Rs.66.650 Millions in the previous year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10337150	25/01/2012	90,000,000.00	CITIBANK N. A.	TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, Maharashtra - 400051, INDIA	B32790610
2	10094641	04/02/2011 *	7,500,000.00	Small Industries Development Bank Of India	1 & 2, Dhanlaxmi Residency,, Near Hotel Tip Top Plaza, L.B.S. Marg, Thane, Mumbai, Maharashtra - 400602, INDIA	B05759758
3	10043576	06/03/2007	1,317,000.00	SMALL INDUSTRIAL DEVELOPMENT BANK OF INDIA	1ST FLOOR, 102, R. M. PRIDE BUILDING,, RAM MARUTI ROAD,, THANE, Maharashtra - 400602, INDIA	A12865465

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Loans from Director	20.000	20.000
Sales Tax Deferment	5.478	6.278
SHORT TERM BORROWINGS
Borrowing from Directors and Shareholders	5.000	10.000
Total	30.478	36.278

FIXED ASSETS

• Leasehold Land
• Administrative Building
• Factory Building
• Plant and Machinery
• Tools and Equipments
• Testing and Handling Equipments
• Tool Room Machinery
• Electric Installation
• Office Equipments
• Furniture and Fixture
• Vehicles
• Computers

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.61.41
UK Pound	1	Rs.93.18
Euro	1	Rs.69.82

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.