MIRA INFORM REPORT
|
Report No. : |
346005 |
|
Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
EDVANCE PRE-SCHOOLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
604-605, Prathmesh Tower, 'B' Block, Raghuvanshi Mill Compound,
Senapati Bapat Road, Lower Parel, Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-66246000 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
14.11.2008 |
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|
|
|
Com. Reg. No.: |
11-188191 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.226.762 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U80100MH2008PTC188191 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCE0815E |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject operates pre-school facilities and also grants right and license to franchisees to operate pre-school facilities on a franchise basis. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 88000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2008 having
moderate track. For the financial year ended 2014, company has reported huge accumulated
losses from its business operations. Rating is also constrained on account of company’s moderate financial
risk profile marked by negative reserves level and leverage balance sheet
profile of the company. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. In view of weak financial position, the company can be considered for
business dealings with some caution. |
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
31-03-2015.
INFORMATION DENIED
Management non-Cooperative
Contact No.: 91-22-66246000
LOCATIONS
|
Registered Office : |
604-605, Prathmesh Tower, 'B' Block, Raghuvanshi, Mill Compound,
Senapati Bapat Road, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66246000 / 66246021 |
|
Fax No.: |
91-22-66246099 |
|
E-Mail : |
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|
|
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|
Franchise
pre-schools: |
Located at
|
DIRECTORS
AS ON 08.09.2014
|
Name : |
Arun Arora |
|
Designation : |
Director |
|
Address : |
Flat No.3A, Somerset Place, 61-D, Bhulabhai Desai Road, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
08.08.1945 |
|
Date of Appointment : |
14.11.2008 |
|
|
|
|
Name : |
Arun Kumar Bahl |
|
Designation : |
Director |
|
Address : |
MA 1/2 -3B, Garden Estate, M G Road, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
31.10.1943 |
|
Date of Appointment : |
08.04.2013 |
|
DIN No.: |
00372093 |
|
|
|
|
Name : |
Anshul Arora |
|
Designation : |
Director |
|
Address : |
D-6/14, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
12.10.1976 |
|
Date of Appointment : |
14.11.2008 |
|
DIN No.: |
01775551 |
|
|
|
|
Name : |
Subhash Arora |
|
Designation : |
Director |
|
Address : |
D-6/14, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
28.08.1947 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
01747707 |
|
|
|
|
Name : |
Gim Choo Ng |
|
Designation : |
Director |
|
Address : |
25B King Albert Park, Singapore – 598311, Singapore |
|
Date of Birth/Age : |
19.08.1952 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02755227 |
|
|
|
|
|
|
|
Name : |
Chin Hai Oh |
|
Designation : |
Director |
|
Address : |
111, Jalan Binchang, Singapore |
|
Date of Birth/Age : |
15.03.1947 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02773269 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 08.09.2014
|
Names of Shareholders |
No. of Shares |
|
Arun Arora |
1775060 |
|
Anshul Arora |
602278 |
|
Anshuman Investment Holdings Pte Limited, Singapore |
15024939 |
|
Etonhouse International Holdings Pte Limited, Singapore |
4037976 |
|
Molly Trading Company Private Limited, India |
170000 |
|
Subhash Arora Investments (India) Private Limited, India |
2508564 |
|
Snam Investment Private Limited, India |
825000 |
|
Total |
24943817 |
Equity Share Break up (Percentage of Total Equity)
AS ON 08.09.2014
|
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 |
76.42 |
|
Bodies corporate |
14.05 |
|
Directors or relatives of Directors |
9.53 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject operates pre-school facilities and also grants right and license to franchisees to operate pre-school facilities on a franchise basis. |
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Products : |
Not Available |
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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 Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Auditors : |
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|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
1St Floor, Lodha Excelus Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Maharashtra, India |
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PAN No.: |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding
company: |
Anshuman Investment Holdings Pte Limited |
CAPITAL STRUCTURE
AS ON 08.9.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,943,817 |
Equity Shares |
Rs.10/- each |
Rs.249.438 Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,26,76,197 |
Equity Shares |
Rs.10/- each |
Rs.226.762 Million |
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
226.762 |
182.229 |
139.271 |
|
(b) Reserves &
Surplus |
(195.966) |
(160.393) |
(103.958) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
14.235 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
30.796 |
36.071 |
35.313 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
4.034 |
2.301 |
0.149 |
|
(d) long-term provisions |
3.873 |
1.092 |
0.442 |
|
Total Non-current
Liabilities (3) |
7.907 |
3.393 |
0.591 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
3.440 |
3.741 |
0.072 |
|
(c) Other current
liabilities |
38.684 |
27.586 |
17.556 |
|
(d) Short-term provisions |
0.223 |
0.365 |
0.268 |
|
Total Current Liabilities
(4) |
42.347 |
31.692 |
17.896 |
|
|
|
|
|
|
TOTAL |
81.050 |
71.156 |
53.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
21.187 |
16.096 |
9.144 |
|
(ii) Intangible Assets |
0.682 |
2.862 |
4.002 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.656 |
18.106 |
7.863 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
43.525 |
37.064 |
21.009 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6.201 |
4.213 |
4.228 |
|
(c) Trade receivables |
1.031 |
0.563 |
0.516 |
|
(d) Cash and cash
equivalents |
29.025 |
28.242 |
27.148 |
|
(e) Short-term loans and
advances |
1.244 |
1.064 |
0.899 |
|
(f) Other current assets |
0.024 |
0.010 |
0.000 |
|
Total Current Assets |
37.525 |
34.092 |
32.791 |
|
|
|
|
|
|
TOTAL |
81.050 |
71.156 |
53.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
71.317 |
48.012 |
|
|
Other Income |
|
|
|
|
|
TOTAL |
122.968 |
71.317 |
48.012 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
158.541 |
127.752 |
85.843 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(35.573) |
(56.435) |
(37.831) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(35.573) |
(56.435) |
(37.831) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(160.393) |
(103.958) |
(66.127) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(195.966) |
(160.393) |
(103.958) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(1.57) |
(3.10) |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
(28.93) |
(79.13) |
(78.79) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(43.89) |
(79.31) |
(70.32) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.16) |
(1.56) |
(1.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
1.08 |
1.83 |
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 |
139.271 |
182.229 |
226.762 |
|
Reserves & Surplus |
(103.958) |
(160.393) |
(195.966) |
|
Share Application money
pending allotment |
0.000 |
14.235 |
0.000 |
|
Net worth |
35.313 |
36.071 |
30.796 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
48.012 |
71.317 |
122.968 |
|
|
|
48.540 |
72.425 |
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 |
48.012 |
71.317 |
122.968 |
|
Profit/Loss |
(37.831) |
(56.435) |
(35.573) |
|
|
(78.79%) |
(79.13%) |
(28.93%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three 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 |
GENERAL INFORMATION
Subject was incorporated on 14 November 2008, as a private limited company under the provision of the Companies Act, 1956 (the Act). The Company operates pre-school facilities and also grants right and license to franchisees to operate pre-school facilities on a franchise basis.
OPERATIONS AND
OUTLOOK
During the current financial year the company opened 1 new company owned schools. Four schools Vivero Powai, Vivero Kalyani Nagar, Serra International, Aundh and Vivero International, Indira Nagar continue to be profitable. The company signed15newfranchisepre-schoolsin Delhi & NCR, Mumbai, Chennai and Jaipur.
The Company is convinced of the opportunities in the pre-school segment and shall continue to open high quality pre-schools in premium locations.
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Computer
- Office Equipment
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 records 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.64.96 |
|
|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
---- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.