MIRA INFORM REPORT
|
Report No. : |
313931 |
|
Report Date : |
24.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
DALI AND SAMIR ENGINEERING PRIVATE LIMITED |
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|
|
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Registered
Office : |
36, D-II Block, MIDC, Chinchwad, Pune – 411019, Maharashtra |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.09.1979 |
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Com. Reg. No.: |
11-021672 |
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Capital Investment
/ Paid-up Capital : |
Rs.49.895 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299MH1979PTC021672 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED04123A |
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PAN No.: [Permanent Account No.] |
AACCD0855H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing a range of sheet metal components
and exhaust systems for the automotive sector. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 310000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having 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 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
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
31-03-2014.
LOCATIONS
|
Registered Office/ Factory 1 : |
36, D-II Block, MIDC, Chinchwad, Pune – 411019, Maharashtra, India |
|
Tel. No.: |
91-20-27477551 (10 lines) |
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Fax No.: |
91-20-27477551 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 2 : |
Plot No. 46, W.M.D.C. Kharabwadi, Malunge Road, Chakan, Pune - 410501 |
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Factory 3 : |
Tool Room: Plot No. 56/5, D- II Block, MIDC Chinchwad, Pune,
Maharashtra, India |
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Factory 4 : |
Plot No. 43, Sector 11, Tata
Vendor Park, IIE Pantnagar Rudrapur -
263153, Uttarakhand, India |
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Factory 5 : |
Hosur, Tamilnadu, India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Madhav Salian |
|
Designation : |
Managing director |
|
Address : |
Mandira – 6, Nilgiri lane, Baner Road, Aundh, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
10.11.1934 |
|
Date of Appointment : |
13.09.1979 |
|
PAN No. : |
ACPPS6094R |
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DIN No.: |
00600531 |
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|
|
|
Name : |
Mr. Sandesh Salian |
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Designation : |
Whole-time director |
|
Address : |
Mandira – 6, Nilgiri lane, Baner Road, Aundh, Pune – 411007, Maharashtra,
India |
|
Date of Birth/Age : |
16.09.1973 |
|
Date of Appointment : |
04.09.1992 |
|
PAN No. : |
ABWPS7671N |
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DIN No.: |
00600574 |
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|
|
|
Name : |
Mr. Sameer Salian |
|
Designation : |
Whole-time director |
|
Address : |
Mandira – 6, Nilgiri lane, Baner Road, Aundh, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
01.01.1968 |
|
Date of Appointment : |
01.06.1988 |
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PAN No. : |
ACEPS8710K |
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DIN No.: |
00600732 |
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|
|
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Name : |
Ms. Sangeeta Yuvraj Sah |
|
Designation : |
Director |
|
Address : |
SR 79/2/1, Plot No. 2, Flat 4, Aundh Baner Road, Nilgiri Apartments,
Pune – 411007, Maharashtra, India |
|
Date of Appointment : |
01.05.1998 |
|
DIN No.: |
02430699 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Madhav Salian |
348844 |
69.92 |
|
Indira Salian |
75054 |
15.04 |
|
Samir Salian |
33694 |
6.75 |
|
Sandesh Salian |
20680 |
4.14 |
|
Sangeeta Shah |
20680 |
4.14 |
|
Total |
498952 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing a range of sheet metal components
and exhaust systems for the automotive sector. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Syndicate Bank, 202, Gawade Estate, Mumbai – Pune Road, Chinchwad, Pune
– 411019, Maharashtra, India |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Sharad Shah and Company Chartered Accountants |
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Address : |
Gokul Nagar B, 1184/4, Fergusson College Road, Pune – 411005,
Maharashtra, India |
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Tel. No.: |
91-20-25535405 / 25535426 |
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Fax No.: |
91-20-25536624 |
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E-Mail : |
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Website : |
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PAN No. : |
AAEFS2410C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their relatives: |
Sansa Auto Engg Company and Mrs. Sangeeta Y Sah |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
498952 |
Equity Shares |
Rs.100/- each |
Rs. 49.895
Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
49.895 |
49.895 |
49.895 |
|
(b) Reserves & Surplus |
59.221 |
48.453 |
69.013 |
|
(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) |
109.116 |
98.348 |
118.908 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
52.224 |
63.720 |
54.903 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
52.224 |
63.720 |
54.903 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
203.610 |
188.887 |
167.128 |
|
(b) Trade payables |
130.339 |
140.632 |
108.412 |
|
(c) Other current liabilities |
29.992 |
37.930 |
38.706 |
|
(d) Short-term provisions |
2.659 |
3.709 |
6.516 |
|
Total
Current Liabilities (4) |
366.600 |
371.158 |
320.762 |
|
|
|
|
|
|
TOTAL |
527.940 |
533.226 |
494.573 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
100.267 |
102.948 |
91.323 |
|
(ii) Intangible Assets |
0.275 |
0.458 |
0.305 |
|
(iii) Capital work-in-progress |
0.602 |
0.111 |
4.688 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.387 |
|
(c) Deferred tax assets (net) |
11.901 |
6.247 |
6.257 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
113.045 |
109.764 |
102.960 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
183.372 |
169.611 |
121.794 |
|
(c) Trade receivables |
168.165 |
190.005 |
211.355 |
|
(d) Cash and cash equivalents |
0.387 |
4.243 |
5.831 |
|
(e) Short-term loans and
advances |
62.548 |
59.157 |
52.580 |
|
(f) Other current assets |
0.423 |
0.446 |
0.053 |
|
Total
Current Assets |
414.895 |
423.462 |
391.613 |
|
|
|
|
|
|
TOTAL |
527.940 |
533.226 |
494.573 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
909.125 |
1044.085 |
|
|
Other Income |
|
|
|
|
|
TOTAL
|
722.064 |
909.125 |
1044.085 |
|
|
|
|
|
|
|
Less |
EXPENSES |
689.989 |
907.963 |
999.247 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
32.075 |
1.162 |
44.838 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
21.307 |
21.722 |
20.023 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
10.768 |
(20.560) |
24.815 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
6.968 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
10.768 |
(20.560) |
17.847 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
21.58 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.09 |
(3.90) |
5.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
(0.21) |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.34 |
2.57 |
1.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.14 |
1.22 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
49.895 |
49.895 |
49.895 |
|
Reserves & Surplus |
69.013 |
48.453 |
59.221 |
|
Net
worth |
118.908 |
98.348 |
109.116 |
|
|
|
|
|
|
long-term borrowings |
54.903 |
63.720 |
52.224 |
|
Short term borrowings |
167.128 |
188.887 |
203.610 |
|
Total
borrowings |
222.031 |
252.607 |
255.834 |
|
Debt/Equity
ratio |
1.867 |
2.569 |
2.345 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1044.085 |
909.125 |
722.064 |
|
|
|
(12.926) |
(20.576) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1044.085 |
909.125 |
722.064 |
|
Profit |
17.847 |
(20.560) |
10.768 |
|
|
1.71% |
(2.26%) |
1.49% |
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 |
No |
OPERATIONS
During the year, the Company achieved the Sales turnover of Rs. 722.064 Million compared to Rs. 909.125 Million during the previous year 2012-13. However, Company made Profit of Rs. 10.768 Million compared to Loss of Rs. 20.560 Million during 2012-13. This is due to change in product mix and strict procurement policy and Inventory control. We have shifted and upgraded our new Plant at Hosur in Tamilnadu by incurring huge expenditure during the year for coming upto the International Level of Manufacturing and Engineering Standard of a) M/s. Daimler India Commercial Vehicle Private Limited., (Biggest Manufacturers of Commercial Vehicles Manufacturer of the World ) Plus b) M/s. Nissan Ashok Leyland Private Limited ( A Joint-venture Company set up by World renowned Nissan of Japan and M/s.Ashok Leyland Limited.).
CORPORATE INFORMATION
Subject is a progressive medium scale industry manufacturing a range of sheet metal components and exhaust systems for the automotive sector since 1979.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred sales tax loan |
9.620 |
9.688 |
|
Loans and advances from directors |
27.610 |
26.968 |
|
Total |
37.230 |
36.656 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10340145 |
02/03/2012 |
28,000,000.00 |
SYNDICATE BANK |
202, GAWADE ESTATE,
MUMBAI - PUNE ROAD, CHINCHWAD, |
B34108498 |
|
2 |
10069095 |
12/10/2009 * |
23,700,000.00 |
SYNDICATE BANK |
202,GAWADE
ESTATE,MUMBAI-PUNE ROAD,CHINCHWAD,, PUN |
A72934342 |
|
3 |
90089386 |
02/03/2012 * |
210,000,000.00 |
SYNDICATE BANK |
202, GAWADE ESTATE,
MUMBAI - PUNE ROAD, CHINCHWAD, |
B34111385 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- Computer software
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.62.29 |
|
|
1 |
Rs.93.02 |
|
Euro |
1 |
Rs.67.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.