Keoli Oil Agency (KOA) is a public authority established under an Act of Parliament in the Republic of Keoli (RoK). Any person intending to start business in oil exploration in RoK must apply for and be granted a permit from KOA. Mr. Pthisa Cleophas formed and registered a private limited company called Kriumph Co.Ltd under the laws of KoL. Mr. Pthisa Cleophas is the major shareholder and the only director of Kriumph Co. Ltd. The certificate of incorporation was issued by the registrar of companies of RoK on 6^th of June 2021. Kriumph Co. Ltd made an application dated 3^rd of August 2021 to KOA seeking a permit to explore oil in the country. This application was denied vide a letter dated 28^th of August 2021. The reason given for the refusal was that the name Kriuph Ltd was an undesirable name to use in the oil exploration industry. It has come to the knowledge of Mr Pthisa thar one of the panelists who sat to consider the company's application is a director of GroupF Co. Ltd, which is also in the oil exploration sector and had made its application to be considered by KOA for the oil exploration in ROA. The company feels aggrieved about the refusal by KOA. However, Mr. Pthisa Cleophas does not know if the company has any remedy under the law. He has come to you for advice. Analyze the legal principles applicable in this situation and advise Mr. Pthisa Cleophas on the legal position of Kriumph Co. Ltd. (Assume that the laws of RoK are, in all aspects, similar to the laws of the Republic of Kenya, and that Mr. Pthisa Cleophas has exhausted all remedies available under the Act of Parliament establishing KOA)