MIRA INFORM REPORT
|
Report No. : |
331231 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOOL SOLUTIONS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, Kshamalaya, New Marine Lines, Mumbai – 400020, Maharashtra |
|
Tel. No.: |
91-2266132500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.09.212 |
|
|
|
|
Com. Reg. No.: |
11-235441 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.850 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93000MH2012PTC235441 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK22871C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECK9073A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing cold storage and refrigerated warehouse services. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though, the company has incorporated in 2012, it is yet to
commence its business operations as per director’s report 2014. Ms. Durga (Accountant) has denied to provide any information about the
subject to us. However, Business is active as per status shown in registrar of the
company. Payment terms are unknown. The company can be considered for business dealings with fully 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Ms. Durga |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-66132500 |
|
Date : |
10.07.2015 |
LOCATIONS
|
Registered Office : |
301, Kshamalaya, New Marine Lines, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-2266132500 |
|
Fax No.: |
91-2266132599 |
|
E-Mail : |
|
|
Website : |
ww.everesrkool.com |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Sachin Chittaranjan Shah |
|
Designation : |
Director |
|
Address : |
4401,4402, Aqua CHSL, Tower – 2, Planet Godrej, Keshavrao Khadya Marg,
Mahalaxmi – (East), Mumbai – 400011, Maharashtra, Indai |
|
Date of Birth/Age : |
13.12.1975 |
|
Date of Appointment : |
08.09.2012 |
|
DIN No.: |
00387166 |
|
|
|
|
Name : |
Mr. Patrick Gouveia |
|
Designation : |
Director |
|
Address : |
72, Old colony road, Toronto, M2L 2KI, Toronto, M2L2K1, Canada |
|
Date of Birth/Age : |
21.04.1948 |
|
Date of Appointment : |
13.12.2012 |
|
DIN No.: |
06448063 |
|
|
|
|
Name : |
Mr. Ricardo Castillo |
|
Designation : |
Director |
|
Address : |
135, Gordon road, Willowdale, ON, Willowdale, M2P1E6, Canada |
|
Date of Birth/Age : |
02.11.1949 |
|
Date of Appointment : |
13.12.2012 |
|
DIN No.: |
06453399 |
|
|
|
|
Name : |
Mr. Nilesh Upendra Jani |
|
Designation : |
Director |
|
Address : |
C – 203, Anmol CHS SV Road, Goregaon (West), Mumbai- 400062,
Maharashtra, India |
|
Date of Birth/Age : |
02.11.1970 |
|
Date of Appointment : |
16.04.2014 |
|
DIN No.: |
01638820 |
|
|
|
|
Name : |
Mr. Rohan Apurva Parikh |
|
Designation : |
Director |
|
Address : |
15B, 1st Floor, Zaver Mahal, 66, Netajisubhash Road,
Chruchgate, Mumbai- 400020, Maharashtra, India |
|
Date of Birth/Age : |
22.05.1979 |
|
Date of Appointment : |
11.10.2013 |
|
DIN No.: |
00155626 |
KEY EXECUTIVES
|
Name : |
Ms. Durga |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
No.
of Shares |
%age
holding |
|
Sachin Shah |
2000 |
11.43 |
|
Samsara Fund Advisor Private Limited, India |
3000 |
17.14 |
|
Spire Group Limited, Canada |
8750 |
50.00 |
|
Kasch Investments LLC, USA |
1500 |
8.57 |
|
Lift and Shift India Private
Limited, India |
1500 |
8.57 |
|
OMR Realty Private Limited, India |
750 |
4.29 |
|
|
|
|
|
Total |
17,500 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
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 |
58.60 |
|
Bodies corporate |
30.00 |
|
Directors or relatives of Directors |
11.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing cold storage and refrigerated warehouse services. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
|
||||||||||||||||||||||
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||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gps and Associates Chartered Accountants |
|
Address : |
A-1 Sindhi Niwas Sitaladevi Temple Road, Mahim, Mumbai – Maharashtra,
India |
|
Tel. No.: |
91-2224446688/1348/24468959 |
|
Fax No.: |
91-22-24466455 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFG4422H |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
Spire Group Limited |
|
|
|
|
Enterprises in which KMP and their relatives have significant
influence : |
|
CAPITAL STRUCTURE
After 29.09.2014
Authorised Capital : Rs. 12.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 0.850
Million
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130,000 |
Equity Shares |
Rs.10/- each |
Rs. 1.300 Million |
|
1,070,000 |
Preference Shares |
Rs.10/- each |
Rs. 10.700 Million |
|
|
Total |
|
Rs. 12.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17,500 |
Equity Shares |
Rs.10/- each |
Rs. 0.175
Million |
|
67.500 |
Preference Shares |
Rs.10/- each |
Rs. 0.675
Million |
|
|
Total |
|
Rs. 0.850 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.850 |
0.100 |
|
(b) Reserves & Surplus |
|
4.188 |
-0.026 |
|
(c) Money received against share
warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
5.038 |
0.074 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
14.843 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
14.843 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
1.081 |
|
(b) Trade payables |
|
0.000 |
0.000 |
|
(c) Other current liabilities |
|
0.482 |
0.337 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
|
0.482 |
1.418 |
|
|
|
|
|
|
TOTAL |
|
20.363 |
1.492 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1.392 |
0.010 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
7.581 |
1.320 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.059 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
9.032 |
1.330 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
10.790 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
|
0.086 |
0.058 |
|
(e) Short-term loans and
advances |
|
0.455 |
0.104 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
11.331 |
0.162 |
|
|
|
|
|
|
TOTAL |
|
20.363 |
1.492 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
Other Income |
|
0.290 |
0.000 |
|
|
TOTAL
|
|
0.290 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Finance Cost |
|
0.009 |
0.000 |
|
|
Other expenses |
|
1.302 |
0.025 |
|
|
TOTAL
|
|
1.311 |
0.025 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(1.021) |
(0.025) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
0.074 |
0.001 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(1.095) |
(0.026) |
|
|
|
|
|
|
|
Less |
TAX |
|
(0.060) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(1.035) |
(0.026) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
|
|
|
Basic |
|
(96.45) |
(2.62) |
|
|
Diluted |
|
(29.89) |
(2.62) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
|
0.169 |
NA |
|
Cash generated from operations |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(8.61) |
(15.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.22) |
(0.35) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
2.98 |
14.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
23.51 |
0.11 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.100 |
0.850 |
|
Reserves & Surplus |
(0.026) |
4.188 |
|
Money received against share
warrants |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
|
Net
worth |
0.074 |
5.038 |
|
|
|
|
|
long-term borrowings |
0.000 |
14.843 |
|
Short term borrowings |
1.081 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
0.169 |
|
Total
borrowings |
1.081 |
15.012 |
|
Debt/Equity
ratio |
14.608 |
2.980 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND OF THE
COMPANY
Subject was incorporated on 8th September 2012. The company
aims to carry on the business of provided cold storage and refrigerated
warehouse services. The company has been jointly promoted by Samsara Fund
Advisors Private Limited and Spire group of Canada. The Company is currently in
the process of setting up a state of the art world class cold storage facility
at Taloja in Navi Mumbai
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
175000 Series A, Fully compulsorily Convertible Debentures |
14.000 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Loan and advances from related parties |
|
|
|
Samsar Fund Advisor Private Limited |
0.000 |
0.500 |
|
OMR Realty Private Limited |
0.000 |
0.581 |
|
|
|
|
|
Total |
14.000 |
1.081 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Mobile Phone
- 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.63.37 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
11 |
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.