MIRA INFORM REPORT

Report Date :

10.08.2012

IDENTIFICATION DETAILS

Name :	ATRIA POWER CORPORATION PRIVATE LIMITED (w.e.f.19.04.2012)
Formerly Known As :	ATRIA POWER CORPORATION LIMITED
Registered Office :	The Atria 1/1, Palace Road, Bangalore – 560001, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	24.06.1996
Com. Reg. No.:	08-020692
Capital Investment / Paid-up Capital :	Rs. 49.000 Millions
CIN No.: [Company Identification No.]	U40105KA1996PTC020692
TAN No.: [Tax Deduction & Collection Account No.]	BLRA01365A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Power Generator
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (60)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 6440000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having good track record. Financially company is performing well. Liquidity position of the company is good. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered for normal business dealing at usual trade terms and condition.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
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	CRISIL
Rating	A (Long Term Rating)
Rating Explanation	Having adequate degree of safety regarding timely servicing of financial obligation. It carry low credit risk.
Date	June 2012

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 31-03-2012.

LOCATIONS

Registered Office :	The Atria 1/1, Palace Road, Bangalore – 560001, Karnataka, India
Tel. No.:	91-80-22257022/22205205
Fax No.:	91-80-2257023/2256850
E-Mail :	mmkr@airtelmail.in

DIRECTORS

AS ON 28.09.2011

Name :	Mr. Sundar Raju Chinnaswamy Solaraju
Designation :	Director
Address :	No. 294, Upper Palace, Orchards, Bangalore – 560080, Karnataka, India
Date of Birth/Age :	24.08.1957
Date of Appointment :	24.06.1996
DIN No.:	00592212

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74995KA1984PTC005975	VISWESWARAIAH TECHNICAL SERVICES PRIVATE LIMITED	Director	16/12/1986	16/12/1986	-	Active	NO
2	U45203KA1991PTC012602	AKKALARAJU CONTRACTORS AND ENGINEERS PRIVATE LIMITED	Whole-time director	09/12/1991	09/12/1991	-	Active	NO
3	U55101KA1994PTC015562	CHALUKYA HOTELS PRIVATE LIMITED	Director	29/04/1994	29/04/1994	-	Active	NO
4	U55100KA1995PTC018477	CHALUKYA HOLIDAY RESORTS PRIVATE LIMITED	Director	31/08/1995	31/08/1995	-	Active	NO
5	U40105KA1996PTC020692	ATRIA POWER CORPORATION PRIVATE LIMITED	Director	24/06/1996	24/06/1996	-	Active	NO
6	U07010KA1997PTC021976	ATRIA HOLDINGS PRIVATE LIMITED	Director	18/03/1997	18/03/1997	-	Active	NO
7	U85110KA1984PLC006560	A.S.K.BROTHERS .LIMITED	Whole-time director	03/01/1998	03/01/1998	-	Active	NO
8	U85110KA1999PLC024675	ATRIA HYDEL POWER LIMITED	Director	25/01/1999	25/01/1999	-	Active	NO
9	U40101KA1999PLC026081	ATRIA POWER CORPORATION (SHIMSHA) LIMITED	Director	14/12/1999	14/12/1999	-	Active	NO
10	U72900KA2000PTC027290	ATRIA CONVERGENCE TECHNOLOGIES PRIVATE LIMITED	Managing director	21/06/2008	16/06/2000	-	Active	NO
11	U32302KA2000PTC027519	ATRIA BROADBAND SERVICES PRIVATE LIMITED	Director	26/07/2000	26/07/2000	-	Active	NO
12	U40101KA2000PLC028288	ATRIA BRINDAVAN POWER LIMITED	Director	14/12/2000	14/12/2000	-	Active	NO
13	U65993WB1992PTC054292	ESKAY MERCANTILE COMMERCIAL AND HOLDING PRIVATE LIMITED.	Director	01/03/2005	01/03/2005	-	Active	NO
14	U64203KA2006PTC040993	KABLE FIRST INDIA PRIVATE LIMITED	Director	19/08/2009	31/05/2008	-	Active	NO
15	U72200KA2008PTC045641	A.C.N. CABLE PRIVATE LIMITED	Additional director	16/03/2009	01/06/2008	04/05/2009	Active	NO
16	U64204MP2008PTC020522	SR CABLE TV PRIVATE LIMITED.	Additional director	14/06/2008	04/06/2008	04/05/2009	Active	NO
17	U32109KA2008PTC047065	EXCITE DIGITAL HOME ENTERTAINMENT PRIVATE LIMITED	Director	26/09/2008	26/09/2008	01/04/2009	Active	NO
18	U32200KA2008PTC045694	KABLE FIRST DAVANAGERE PRIVATE LIMITED	Director	02/01/2009	02/01/2009	03/01/2009	Active	NO
19	U40101KA2002PTC031228	BALAJI HYDEL POWER PRIVATE LIMITED	Director	11/08/2009	06/03/2009	-	Active	NO
20	U74900KA2011PTC056741	OBRM SERVICE MANAGEMENT PRIVATE LIMITED	Director	21/01/2011	21/01/2011	-	Active	NO
21	U74900KA2011PTC056740	CTV CONTENT MANAGEMENT PRIVATE LIMITED	Director	21/01/2011	21/01/2011	-	Active	NO
22	U74999KA2011PTC056739	CLOVER PROGRAM MANAGEMENT PRIVATE LIMITED	Director	21/01/2011	21/01/2011	-	Active	NO
23	U40108KA2012PTC063626	WONDER TECH WIND POWER PRIVATE LIMITED	Director	18/04/2012	18/04/2012	-	Active	NO
24	U40300KA2012PTC065186	ATRIA SOLAR POWER PRIVATE LIMITED	Director	03/08/2012	03/08/2012	-	Active	NO

Name :	Mr. Chinnaswamy Raju Akkalaraju Solaraju
Designation :	Managing Director
Address :	No. 294, Upper Palace, Orchards, Bangalore – 560080, Karnataka, India
Date of Birth/Age :	16.02.1931
Date of Appointment :	02.09.1997
DIN No.:	01161090

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U55101KA1977PTC003152	KAYENCEE HOTELS AND ENGINEERING ENTERRISES PRIVATE LIMITED	Director	12/05/1977	12/05/1977	Active	NO
2	U74995KA1984PTC005975	VISWESWARAIAH TECHNICAL SERVICES PRIVATE LIMITED	Managing director	16/12/1986	16/12/1986	Active	NO
3	U45203KA1991PTC012602	AKKALARAJU CONTRACTORS AND ENGINEERS PRIVATE LIMITED	Managing director	09/12/1991	09/12/1991	Active	NO
4	U27209KA1984PTC005974	SREE RAMALEELA DEVELOPERS PRIVATE LIMITED	Director	30/09/1993	30/09/1993	Active	NO
5	U55101KA1994PTC015562	CHALUKYA HOTELS PRIVATE LIMITED	Director	29/04/1994	29/04/1994	Active	NO
6	U93010KA1994PTC016050	UNIWASH ASSOCIATES PRIVATE LIMITED	Director	10/08/1994	10/08/1994	Active	NO
7	U55100KA1995PTC018477	CHALUKYA HOLIDAY RESORTS PRIVATE LIMITED	Managing director	31/08/1995	31/08/1995	Active	NO
8	U07010KA1997PTC021976	ATRIA HOLDINGS PRIVATE LIMITED	Director	18/03/1997	18/03/1997	Active	NO
9	U40105KA1996PTC020692	ATRIA POWER CORPORATION PRIVATE LIMITED	Managing director	02/09/1997	02/09/1997	Active	NO
10	U40101KA1999PLC026081	ATRIA POWER CORPORATION (SHIMSHA) LIMITED	Director	14/12/1999	14/12/1999	Active	NO
11	U85110KA1984PLC006560	A.S.K.BROTHERS .LIMITED	Managing director	01/04/2000	01/04/2000	Active	NO
12	U40101KA2002PTC031228	BALAJI HYDEL POWER PRIVATE LIMITED	Director	18/11/2002	18/11/2002	Active	NO
13	U55101AP1992PTC013997	SRILAKSHMI GAYATHRI HOTELS PRIVATE LIMITED	Director	01/02/2003	01/02/2003	Active	NO
14	U51909WB1992PTC054765	PATALGANGA DISTRIBUTOR PRIVATE LIMITED	Director	23/02/2005	23/02/2005	Active	NO
15	U65993WB1992PTC054292	ESKAY MERCANTILE COMMERCIAL AND HOLDING PRIVATE LIMITED	Director	01/03/2005	01/03/2005	Active	NO
16	U70101WB1990PTC049873	GULMOHAR PROMOTERS PRIVATE LIMITED	Director	03/07/2006	03/07/2006	Active	NO
17	U40108KA2012PTC063626	WONDER TECH WIND POWER PRIVATE LIMITED	Director	18/04/2012	18/04/2012	Active	NO
18	U40300KA2012PTC065186	ATRIA SOLAR POWER PRIVATE LIMITED	Director	03/08/2012	03/08/2012	Active	NO

Name :	Mr. Nagaraju Kupparaju
Designation :	Director
Address :	No. 161, R. V. Layout Kumar Park (West), Banagalore – 560020, Karnataka, India
Date of Birth/Age :	23.09.1959
Date of Appointment :	24.06.1996
DIN No.:	00592259

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U26941KA1963PTC001516	MYSORE SPUN CONCRETE PIPE COMPANY PRIVATE LIMITED	Director	29/12/1982	29/12/1982	Active	NO
2	U40105KA1996PTC020692	ATRIA POWER CORPORATION PRIVATE LIMITED	Director	24/06/1996	24/06/1996	Active	NO
3	U07010KA1997PTC021976	ATRIA HOLDINGS PRIVATE LIMITED	Director	18/03/1997	18/03/1997	Active	NO
4	U85110KA1984PLC006560	A.S.K.BROTHERS .LIMITED	Whole-time director	03/01/1998	03/01/1998	Active	NO
5	U85110KA1999PLC024675	ATRIA HYDEL POWER LIMITED	Director	25/01/1999	25/01/1999	Active	NO
6	U40101KA1999PLC026081	ATRIA POWER CORPORATION (SHIMSHA) LIMITED	Director	14/12/1999	14/12/1999	Active	NO
7	U72900KA2000PTC027290	ATRIA CONVERGENCE TECHNOLOGIES PRIVATE LIMITED	Director	16/06/2000	16/06/2000	Active	NO
8	U32302KA2000PTC027519	ATRIA BROADBAND SERVICES PRIVATE LIMITED	Director	26/07/2000	26/07/2000	Active	NO
9	U40101KA2000PLC028288	ATRIA BRINDAVAN POWER LIMITED	Director	14/12/2000	14/12/2000	Active	NO
10	U45202KA1995PTC017400	TRINETRA CONSTRUCTIONS PRIVATE LIMITED	Director	30/12/2000	30/12/2000	Active In Progress	NO
11	U85110KA1992PTC013671	A.J.HOTELS(INDIA) PRIVATE LIMITED	Director	05/02/2001	05/02/2001	Active In Progress	NO
12	U55201KA1984PTC006582	WOODSIDE HOTELS PRIVATE LIMITED	Director	09/02/2001	09/02/2001	Active	YES
13	U40101KA2002PTC031228	BALAJI HYDEL POWER PRIVATE LIMITED	Director	18/11/2002	18/11/2002	Active	NO
14	U93090TN1951NPL002401	SOUTH INDIA HOTELS AND RESTAURANTS ASSOCIATION	Director	13/03/2004	13/03/2004	Active	NO
15	U64203KA2006PTC040993	KABLE FIRST INDIA PRIVATE LIMITED	Director	19/08/2009	31/05/2008	Active	NO
16	U74900KA2011PTC056741	OBRM SERVICE MANAGEMENT PRIVATE LIMITED	Director	21/01/2011	21/01/2011	Active	NO
17	U74900KA2011PTC056740	CTV CONTENT MANAGEMENT PRIVATE LIMITED	Director	21/01/2011	21/01/2011	Active	NO
18	U74999KA2011PTC056739	CLOVER PROGRAM MANAGEMENT PRIVATE LIMITED	Director	21/01/2011	21/01/2011	Active	NO
19	U40108KA2012PTC063626	WONDER TECH WIND POWER PRIVATE LIMITED	Director	18/04/2012	18/04/2012	Active	NO
20	U40300KA2012PTC065186	ATRIA SOLAR POWER PRIVATE LIMITED	Director	03/08/2012	03/08/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2011

Names of Shareholders	No. of Shares
Estate of A. S. Kupparaju	750
Raju A. S. Chinnaswamy	750
Raju K. Naga	750
Raju C. S. Sunder	750
Indiramma	100
Savithramma	50
Raju K. Gopala	50
A. S. K Brothers Limited – India	258500
Atria Holdings Private Limited - India	228300
TOTAL	490000

AS ON 28.09.2011

Equity Shares Break Up	Percentage of Holding
Bodies corporate	99.35
Directors or relatives of Directors	0.65
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Power Generator

PRODUCTION STATUS (AS ON : 31.03.2011)

Particulars	Unit	31.03.2011
Licensed Capacity	Mega Watts	18MW
	Nos.	157680000
Installed Capacity	Mega Watts	18MW
	Nos.	157680000
Actual Generation of Units (354 days of Working)	Units	108469600

GENERAL INFORMATION

Suppliers :

· Deprocon Engg. Private Limited

· Jyothi Limited

· Zen Project And Constructions Private Limited

· Lahmeyer International (India) Private Limited

· G. M. W. Engineers Private Limited

· Mechtech Industries

· Aprameya Constructions

· Sagarika Enterprises

· Srinivasa Engineering

· Ind Enterprises

· T. S. Associates

· Paripatra Ventures

No. of Employees :

Not Available

Bankers :

• Industrial Development Bank of India – IDBI Tower, Cuffe Parade, Colaba – 400005, Karnataka, India
• Corporation Bank, N T Road Branch, No.14/3, Rashtrothana Parishad Building, N T Road, Bangalore-560002, Karnataka, India
• Indus-Ind Bank Limited
• Karnataka Bank Limited
• IDBI Bank
• Andhra Bank

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Term Loan from Corporation Bank- Industrial Finance Branch, Bangalore (including interest accrued and due)	0.000	6.473
Company (comprised of land and building), present and future on pari passu basis with IDBI, i.e., equitable mortgage of the land and building situated at Malavalli Taluk of Mandya District, Karnataka and hypothecation of plant and machinery purchased / to be purchased on pari passu basis with IDBI. The Term loan is further secured by the personal guarantees of all directors of the Company viz., Mr. A. S. Chinnaswamy Raju, Mr. C. S. Sunder Raju and Mr. K. Nagaraju.
Loans Against Fixed Deposits From
Corporation Bank	0.000	23.013
Federal Bank Limited	0.000	52.842
TOTAL	0.000	82.328
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Other Than Short – Term
Inter Corporate Loan
Artia Hydel Power Limited	0.000	0.492
TOTAL	0.000	0.492

Banking Relations :	--
Auditors :
Name :	Lawrence Tellis and Associates – Rohan Miranda Chartered Accountant
Address :	No.44/45, 2^nd Floor, Vinayaka Complex, Residency Cross Road, Bangalore-560025, Karnataka, India
Tel. No.:	91-80-41514791 / 41514792 / 93
Fax No.:	91-80-25583589
E-Mail :	Ita8788@gmail.com rohanmiranda@vsnl.com
PAN No.:	AAAFL3204F
Holding Company :	A S K Brothers Limited CIN No.: - U85110KA1984PLC006560
Associates :	· Uniwash Associates Private Limited · Atria Holdings Private Limited · Sunray Computers Private Limited · Woodside Hotels Private Limited · Atria Convergence Technologies Private Limited · Sree Ramaleela Developers Private Limited · Atria Brindavan Power Limited · Visweswaraiah Technical Services Private Limited · Atria Hydel Power Limited · Balaji Hydel Power Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1650000	Equity Shares	Rs.100/- each	Rs. 165.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
490000	Equity Shares	Rs.100/- each	Rs. 49.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		49.000	49.000	49.000
2] Share Application Money		22.874	22.814	21.014
3] Reserves & Surplus		1538.332	1248.474	985.349
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1610.206	1320.288	1055.363
LOAN FUNDS
1] Secured Loans		0.000	82.328	15.148
2] Unsecured Loans		0.000	0.492	0.492
TOTAL BORROWING		0.000	82.820	15.640
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1610.206	1403.108	1071.003
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		112.837	118.228	140.370
Capital work-in-progress		152.951	144.090	57.851
INVESTMENT		678.575	615.366	331.202
DEFERREX TAX ASSETS		112.340	111.383	109.966
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	31.672	19.614	17.921
	Cash & Bank Balances	296.810	233.123	295.992
	Other Current Assets	213.268	150.190	109.333
	Loans & Advances	14.811	13.061	12.307
Total Current Assets		556.561	415.988	435.553
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.770	1.541	1.840
	Other Current Liabilities	0.288	0.436	2.125
	Provisions	0.000	0.000	0.034
Total Current Liabilities		3.058	1.977	3.999
Net Current Assets		553.503	414.011	431.554
MISCELLANEOUS EXPENSES		0.000	0.030	0.060
TOTAL		1610.206	1403.108	1071.003

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	355.460	286.993	303.082
		Other Income	14.471	17.925	15.627
		TOTAL (A)	369.931	304.918	318.709
Less	EXPENSES
		Administrative / Office Overheads	58.624	19.044	21.173
		TOTAL (B)	58.624	19.044	21.173
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		311.307	285.874	297.536
Less	FINANCIAL EXPENSES (D)		1.302	1.765	3.371
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		310.005	284.109	294.165
Less/ Add	DEPRECIATION/ AMORTISATION (F)		21.099	22.141	29.997
	PROFIT BEFORE TAX (E-F) (G)		288.906	261.968	264.168
Less	TAX (H)		(0.957)	(1.417)	(4.268)
	PROFIT AFTER TAX (G-H) (I)		289.863	263.385	268.436
Add	PRIOR PERIOD ADJUSTMENTS		(0.005)	(0.259)	0.312
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1244.174	981.048	712.300
	BALANCE CARRIED TO THE B/S		1534.032	1244.174	981.048
	Earnings Per Share (Rs.)		591.55	536.99	548.47

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	78.36	86.38	84.23
Net Profit Margin (PBT/Sales)	(%)	81.28	91.28	87.16
Return on Total Assets (PBT/Total Assets}	(%)	36.96	40.58	38.51
Return on Investment (ROI) (PBT/Networth)		0.18	0.20	0.25
Debt Equity Ratio (Total Liability/Networth)		0.00	0.06	0.02
Current Ratio (Current Asset/Current Liability)		182.00	210.41	108.92

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	Yes
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	Yes

STATE OF AFFAIRS AND FUTURE PROSPECTS

HARIHAR POWER PROJECT

Pursuant to the order passed by the High Court of Karnataka with respect to the writ petition filed by the Company, KPTCL (Karnataka Power Transmission Corporation Limited) has issued a resumption order and the Company has submitted a representation to KPTCL as per the directive of the High Court. A joint meeting was held between the Company and the officials of KPTCL wherein KPTCL has requested the Company to submit a viable alternative fuel project setting-up proposal. The Company has submitted an alternative proposal for setting up a 300 MW coal based thermal power generation project at the Harihar project location.

The Company had also filed a writ petition against the order issued by KIADB (Karnataka Industrial Areas Development Board) to commence construction/development works at the lands at Harihar which was subsequently withdrawn by the Company at the suggestion of KIADB. The High Court of Karnataka, Circuit Bench at Dharwad has issued an Order dated 14/07/11, granting permission to withdraw the petition.

The Company is now setting up a new Solar Thermal Power Project at the same site at Harihar and has also approached KIADB requesting for additional land to the extent of 117 acres. The estimated cost of project is about Rs. 360.000 Millions and the Company is approaching Banks for availing financial assistance. The total output of power generation from the proposed Solar thermal project would be 3MW and Phase-I of the project with an output of 1.5 MW is scheduled to be completed and made ready by end - February 2012. The Phase-II of the project with an output of an additional 1.5 MW would be ready within a span of 3 months after the completion of Phase-I. The Company is in the process of obtaining necessary approvals from the Ministry of New and Renewable Energy (MNRE) for this project to enable the Company to avail certain duty exemptions.

SHIMSHA POWER PROJECT

The 18-MW capacity Shimsha Project has generated 108.47 million units (Previous year – 89.56 million units). The sales during the year to KPTCL (Karnataka Power Transmission Corporation Limited) amounted to 108.40 million units (previous year – 89.14 million units), bringing in a gross revenue (excluding other income) of Rs. 355.500 Millions for the year (previous year-Rs.287.000 Millions). The Company would be setting up its fourth unit by end of September 2011 which would add another 6-MW capacity to the total generating capacity upon commissioning of the fourth unit.

The Company has reported a pre-tax net profit of Rs. 288.905 Millions (Previous year – Rs. 261.967 Millions) from the operations at the Shimsa power project.

PLANS FOR SETTING UP A GAS BASED POWER PROJECT AT NELAVAGALU AND A SOLAR THERMAL PROJECT AT CHALLEKERE

The Company has initiated plans to set up a gas based power project at Nelavagalu and a Solar Thermal Project at Challekere and requisite measures are being initiated to scout for lands and other facilities in this respect.

FORM 8

Corporate identity number of the company	U40105KA1996PLC020692
Name of the company	ATRIA POWER CORPORATION LIMITED
Address of the registered office or of the principal place of business in India of the company	The Atria 1/1, Palace Road, Bangalore – 560001, Karnataka, India
This form is for	Creation of charge
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	Corporation Bank, N T Road Branch, No.14/3, Rashtrothana Parishad Building, N T Road, Bangalore-560002, Karnataka, India
Nature of instrument creating charge	a) Common Deed of Hypothecation of Movable/Assets/Debts b) Memorandum of Deposit of Title Deeds ( Both the above pertains to the same charge)
Date of instrument Creating the charge	14.10.2011
Amount secured by the charge	Rs. 240.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest 14.25%.p.a ( Base Rate +3.60%) subject to revision from time to time. Terms of repayment Repayable in 39 quarterly installments as under 1st - 15th installment Rs.5.000 Millions Each 16th - 27th installment Rs.6.250 Millions Each 28th - 39th installment Rs.7.500 Millions Each First installment to be repaid on before 30.09.2012 Interest to be paid as and when due Margin 33.33% p project cost Extent and operation of the charge The charge shall operate to the extent of the loan amount plus interest commission costs expenses and other charges thereon
Short particulars of the property charged (Including location of the property)	First charge by way of (a) Hypothecation by way of solar power plant and other Equipments / other movable assets acquired for the Project out of Bank Finance, stored/ installed at No.1, Palace Road, Bangalore - 560001 or at any other place and (b) Equitable mortgage of immovable properties situate in various survey nos. described in Schedule "A " of the Memorandum measuring 83 acres 19 guntas situated at Nelavagalu Village, Kupplur TQ, Haveri District

FIXED ASSETS

· Computer and Accessories

· Furniture and Fixtures

· Office Equipments

· Land Development Cost

· Plant and Machinery

· Power House

· Penstock

· Transmission Lines

· Weir / Forebay

· Vehicles

WEBSITE DETAILS

SOLAR PLANT

Subject would establish a 5 MW solar power plant project in 75 taluks and 13 districts, with an investment of Rs 49050.000 Millions.

Kalyani Steel Limited would establish a unit for manufacture of carbon alloy steel, stainless steels in Yadgir district with an investment of Rs.120000.000 Millions.

Sun Forest City Ventures Limited has proposed set up a Project Vayu for development of infrastructure and complete eco system for aerospace industries in Bangalore Aerospace Park, near BIAL, with an investment of Rs 93940.000 Millions. It would provide direct employment to 2,42,000 persons. This project would be implemented in next 12 years in three phases, officials said.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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. 55.17
UK Pound	1	Rs. 86.42
Euro	1	Rs. 68.26

INFORMATION DETAILS

Report Prepared by :

DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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
TOTAL		60

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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.