MIRA
INFORM REPORT
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Report Date : |
04.08.2007 |
IDENTIFICATION DETAILS
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Name : |
CONERGY RENEWABLE ENERGY PRIVATE LIMITED |
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Registered Office : |
660/1, |
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Country : |
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Date of Incorporation : |
02.02.2007 |
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Com. Reg. No.: |
41637 |
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CIN No.: [Company
Identification No.] |
U29299KA2007PTC041637 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRC06985G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is suppliers of renewable energy systems, specializing in
photovoltaic (PV) and solar thermal applications. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and has no track of performance. Promoters are reported as respectable. It can be considered for small to mediocre
business dealings at usual trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
660/1, |
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Tel. No.: |
91-80 41880958 |
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Mobile No.: |
91-80-41261932 |
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E-Mail : |
p.shetty@conergy.com |
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Website : |
www.conergy.in |
DIRECTORS
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Name : |
Prakash Shetty |
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Designation : |
Director |
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Address : |
No. 11, 7th Cross, 1st main, S.V.Layout,
Sanjaynagar, RMV 2nd Stage, Bangalore |
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E-mail ID |
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Date of Birth/Age : |
01.06.1961 |
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Name : |
Amardeep Kainth |
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Designation : |
Director |
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Address : |
No. 10, 1st cross, Judicial Officers layout, RMV 2nd
stage Extension, |
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Date of Birth/Age : |
07.11.1959 |
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Other Directorship |
RITTAL INDIA PRIVATE LIMITED |
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U03110KA1994PTC015641 |
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WIDEX INDIA PRIVATE LIMITED |
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U74899DL2000PTC107955 |
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SUNTECHNICS ENERGY SYSTEMS PRIVATE LIMITED |
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U04010KA2005PTC036807 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Prakash Shetty |
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9990 |
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Amardeep Kainth |
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10 |
BUSINESS DETAILS
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Line of Business : |
Subject is suppliers of renewable energy systems, specializing in
photovoltaic (PV) and solar thermal applications. |
GENERAL INFORMATION
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Bankers : |
Not available |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
RITTAL INDIA PRIVATE LIMITED |
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U03110KA1994PTC015641 |
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WIDEX INDIA PRIVATE LIMITED |
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U74899DL2000PTC107955 |
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SUNTECHNICS ENERGY SYSTEMS PRIVATE LIMITED |
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U04010KA2005PTC036807 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,00,000 |
Equity share |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity share |
Rs. 10/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
No financials are available since incorporation of the company, as it is
a new company.
LOCAL AGENCY FURTHER INFORMATION
As per Website
Subject is a suppliers of renewable energy systems, specializing
in photovoltaic (PV) and solar thermal applications. The company offers a broad
range of quality modules, reliable off-grid and grid-connected inverters,
user-friendly mounting systems, easy-to-use control and monitoring equipment,
as well as smart system components. Conergy also builds solar thermal systems
which include highly efficient hot-water systems.
They help their distribution partners to implement PV systems
ranging from 50 W solar home systems to the world's largest PV power station
with 10 MWp. Having gained hands-on experience for decades, they now supply
hundreds of energy system dealers, contractors, and others all over the world.
As a supplier, Conergy sells only via distribution partners. They help their
partners to achieve the highest level of service for their customers, providing
them with training, professional sales material, and engineering support.
Products
Conergy is one of the world’s largest renewable companies,
offering a broad range of products for grid-connected and off-grid applications
including solar electric, solar thermal, solar-driven water pumps, and small
wind power systems. They work with a select group of manufacturers and
their own team of over 300 product engineers and product support specialists to
continuously drive innovative design in each of their major product areas.
The modules, electrical components, and mounting systems they
offer are specifically designed to meet the requirements of the market and are
available exclusively from professional wholesalers specializing in renewable
energy.
Conergy products are developed for experts by experts. They place
great importance on the mechanical characteristics of the components meeting
the practical requirements for simple and error-free installation.
News
Conergy Group
intensifies its presence in India
The Conergy Group, a leading global supplier of renewable energy
products and solutions, expands its presence in the Indian renewable energy
market. After successfully implementing SunTechnics, its flagship company as
one of
With a vertical integration strategy that positions the Conergy
Group strongly in each level of the renewable energy value chain, the Company expects
global revenues to rise by another 60% to more than 1.5 billion USD in 2007,
with
Raveendra Kamat
joins Conergy as Country Manager India
With Raveendra Kamat (44) Conergy has been able to win a
well-experienced executive for its customer-oriented sales management. As
Country Manager India located in Bangalore, Raveendra Kamat will be in charge
of national customer orientated sales strategies for Conergy products for
renewable energy systems ranging from single components such as high quality
Inverter, state-of-the-art mounting systems, and solar modules to complete
renewable energy systems tailor made for customer needs. “In view of the
drastically increasing energy requirements and rising prices throughout most of
About Conergy
With an expected turnover of 1.5 billion USD in 2007 and employing
more than 1600 staff currently, Conergy is the largest solar energy company in
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 records 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 :
Their
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.
Their 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.36 |
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1 |
Rs.82.18 |
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Euro |
1 |
Rs.55.31 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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