MIRA INFORM REPORT

Report Date :

15.02.2013

IDENTIFICATION DETAILS

Name :	ELCON GREENGEN INDIA PRIVATE LIMITED (w.e.f. 03.04.2012)
Formerly Known As :	HETRO ENERGY PROJECTS PRIVATE LIMITED (w.e.f. 12.08.2010) KAKUMANU SERVICES PRIVATE LIMITED
Registered Office :	6-3-1112/7, 201, Second Floor, Snow Drop Building, Kirtilal Jewellers Lane, Begumpet, Hyderabad – 500 016, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.06.1998
Com. Reg. No.:	01-051098
Capital Investment / Paid-up Capital :	Rs.0.100 million
CIN No.: [Company Identification No.]	U74900AP1998PTC051098
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is an independent power producer developing clean energy assets.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Yet to commence business activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Mr. Ashwin from the Accounts Department has confirmed that even though the subject company was incorporated during 1998, it is yet to commence its business activity. Payment terms are unknown. The company can be considered for business dealings on a safe and secured 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 – 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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/ Technical Office :	6-3-1112/7, 201, Second Floor, Snow Drop Building, Kirtilal Jewellers Lane, Begumpet, Hyderabad – 500 016, Andhra Pradesh, India
Tel. No.:	91-40-40068127/ 28
Fax No.:	91-40-40068127/ 28
E-Mail :	l.d.reddy@gmail.com info@elcongreengen.in
Website :	http://elcongreengen.in
Corporate Office :	Third Floor, Ramky Building, Opposite Necklace Road Railway Station, Rajbhavan Road, Somajiguda, Hyderabad – 500 082, Andhra Pradesh, India
Tel. No.:	91-40-40068127
Fax No.:	91-40-40068128
Project Office :	6-5-592, Sri Nagar Colony, Ram Nagar Extension, Anantapur – 515 002, Andhra Pradesh, India
Tel. No.:	91-8554-233417

DIRECTORS

As on 29.09.2012

Name :

Mr. Bharat Reddy Avula

Designation :

Director

Address :

F-101, Income Tax Colony, Road No 10, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India

Date of Appointment :

14.06.2010

DIN No.:

02843581

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	U74900AP1998PTC051098	ELCON GREENGEN INDIA PRIVATE LIMITED	Director	14/06/2010	14/06/2010	-	Active	NO
2	U40105AP1988PTC009006	NESCO WINCON PRIVATE LIMITED	Director	06/06/2011	06/06/2011	26/09/2011	Active	NO
3	U40108AP2012PTC080476	RAMAGIRI RAYALAA WIND PRIVATE LIMITED	Director	23/04/2012	23/04/2012	-	Active	NO
4	U40108AP2012PTC083962	ELCON KADAPA POWER PRIVATE LIMITED	Director	02/11/2012	02/11/2012	-	Active	NO
5	U40105AP2012PTC084125	ELCON VAJRAKARUR ENERGY PRIVATE LIMITED	Director	09/11/2012	09/11/2012	-	Active	NO

Name :

Mr. Lingam Krishna Sankar

Designation :

Director

Address :

40-9-41, Bharathi Kutir, Acharya Ranga Nagar, Vijayawada, Vijayawada - 520 010, Andhra Pradesh, India

Date of Appointment :

19.10.2010

DIN No.:

00988921

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	U21014AP1996PTC023116	NAMASTE PACKAGING PRIVATE LIMITED	Director	06/02/1996	06/02/1996	-	Active	NO
2	U74900AP1998PTC051098	ELCON GREENGEN INDIA PRIVATE LIMITED	Director	19/10/2010	19/10/2010	-	Active	NO
3	U40108AP2012PTC080476	RAMAGIRI RAYALAA WIND PRIVATE LIMITED	Director	23/04/2012	23/04/2012	-	Active	NO
4	U40108AP2012PTC083962	ELCON KADAPA POWER PRIVATE LIMITED	Director	02/11/2012	02/11/2012	-	Active	NO
5	U40105AP2012PTC084125	ELCON VAJRAKARUR ENERGY PRIVATE LIMITED	Director	09/11/2012	09/11/2012	-	Active	NO

Name :

Mr. Mareddy Goutham Reddy

Designation :

Additional Director

Address :

3-6-696, Flat No.104, Raghavendra, Royal Port, Street No.11, Himayatnagar, Hyderabad - 500 027, Andhra Pradesh, India

Date of Birth/ Age :

01.07.1970

Date of Appointment :

12.10.2012

DIN No.:

00251461

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	U24117AP1997PTC026555	SEMBRAMKY ENVIRONMENTAL MANAGEMENT PRIVATE LIMITED	Director	03/03/1997	03/03/1997	12/06/2006	Active	NO
2	U74140AP1994PLC018833	RAMKY ENVIRO ENGINEERS LIMITED	Whole-time director	11/03/2002	11/03/2002	05/11/2007	Active	NO
3	U90001AP2001PLC037829	MUMBAI WASTE MANAGEMENT LIMITED	Director	15/04/2002	15/04/2002	06/11/2007	Active	NO
4	U74140AP2002PLC039702	TAMILNADU WASTE MANAGEMENT LIMITED	Director	03/10/2002	03/10/2002	02/08/2008	Active	NO
5	U45202AP2003PLC041549	MDDA-RAMKY ISBUS TERMINAL LIMITED	Director	20/08/2003	20/08/2003	21/01/2013	Active	NO
6	U40105AP2006PLC049237	RAMKY ENERGY AND ENVIRONMENT LIMITED	Director	22/02/2006	22/02/2006	06/11/2007	Active	NO
7	U72200AP2000PTC034890	RAMKY GLOBAL SOLUTIONS PRIVATE LIMITED	Director	26/10/2006	26/10/2006	05/11/2007	Active	NO
8	L74210AP1994PLC017356	RAMKY INFRASTRUCTURE LIMITED	Alternate director	16/03/2007	16/03/2007	03/09/2007	Active	NO
9	U74999AP2007PTC054200	LBW CONSULTING PRIVATE LIMITED	Director	30/05/2007	30/05/2007	30/06/2007	Active	NO
10	U45203AP2007PLC054825	RAMKY ELSAMEX HYDERABAD RING ROAD LIMITED	Director	18/07/2007	18/07/2007	02/08/2008	Active	NO
11	U70109DL2006PLC150027	GWALIOR BYPASS PROJECT LIMITED	Director	15/09/2008	17/09/2007	-	Active	NO
12	U70102AP2007PLC056184	RAMKY VILLAS LIMITED	Director	02/11/2007	02/11/2007	02/08/2008	Active	NO
13	U45209CT2007PLC020375	NAYA RAIPUR GEMS AND JEWELLERY SEZ LIMITED	Director	27/09/2008	05/11/2007	21/01/2013	Active	NO
14	U24290CT2007PLC020374	RAMKY HERBAL AND MEDICINAL PARK (CHATTISGARH) LIMITED	Director	05/11/2007	05/11/2007	02/08/2008	Active	NO
15	U45209CT2007PLC020373	RAMKY FOOD PARK (CHATTISGARH) LIMITED	Director	05/11/2007	05/11/2007	02/08/2008	Active	NO
16	U45209AP2007PLC054907	RAMKY TOWERS LIMITED	Director	30/09/2009	05/11/2007	-	Active	NO
17	U24239AP2004PLC042855	RAMKY PHARMA CITY (INDIA) LIMITED	Director	30/09/2008	05/11/2007	-	Active	NO
18	U70102AP2007PLC056526	RAMKY INTEGRATED TOWNSHIP LIMITED	Director	04/12/2007	04/12/2007	-	Active	NO
19	U01119AP2008PLC057808	RAMKY - MIDC AGRO PROCESSING PARK LIMITED	Director	25/02/2008	25/02/2008	21/01/2013	Active	NO
20	U70102AP1995PLC021333	RAMKY ESTATES AND FARMS LIMITED	Director	30/09/2009	30/11/2008	-	Active	NO
21	U24232AP2008PLC061191	TRIDAX LABORATORIES LIMITED	Additional director	13/02/2009	13/02/2009	12/01/2010	Active	NO
22	U24230AP2004PLC044461	SMILAX LABORATORIES LIMITED	Director	30/09/2009	13/02/2009	-	Active	NO
23	U74900AP2010FLC069522	EVERGREEN CLEANTECH FACILITIES MANAGEMENT (INDIA) LIMITED	Director	29/09/2011	19/07/2010	16/11/2011	Active	NO
24	U40109AP2007PTC052271	CHHATTISGARH ENERGY CONSORTIUM (INDIA) PRIVATE LIMITED	Director	29/09/2011	27/09/2010	-	Active	NO
25	U93000TN2010PTC075502	B & G SOLAR PRIVATE LIMITED	Director	13/12/2010	26/11/2010	-	Active	NO
26	U24232AP2010PLC071719	RAMKY LIFE SCIENCES LIMITED	Director	16/12/2010	16/12/2010	-	Active	NO
27	U73100AP2011PLC077628	JNPC PHARMA INNOVATION LIMITED	Director	29/09/2012	23/11/2011	-	Active	NO
28	U74120AP2010PLC071143	FRANK LLOYD TECH MANAGEMENT SERVICES LIMITED	Director	30/08/2012	03/12/2011	-	Active	NO
29	U74900AP1998PTC051098	ELCON GREENGEN INDIA PRIVATE LIMITED	Additional director	12/10/2012	12/10/2012	-	Active	NO

Name :

Mr. Pundareek Lakkaraju

Designation :

Additional Director

Address :

Plot No.43, Royal Enclave, Bowenpally, Secunderabad – 500 009, Andhra Pradesh, India

Date of Birth/ Age :

08.04.1950

Date of Appointment :

12.10.2012

DIN No.:

03339036

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	U93000TN2010PTC075502	B & G SOLAR PRIVATE LIMITED	Director	13/12/2010	10/12/2010	-	Active	NO
2	U40101HP1998PLC021261	REGENCY YAMUNA ENERGY LIMITED	Additional director	02/07/2011	02/07/2011	-	Active	NO
3	U40109AP2007PTC052271	CHHATTISGARH ENERGY CONSORTIUM (INDIA) PRIVATE LIMITED	Director	26/09/2012	12/12/2011	-	Active	NO
4	U40109AP2012PLC082948	RAMKY-M2M-SHAILI ESCO LIMITED	Director	07/09/2012	07/09/2012	-	Active	NO
5	U74900AP1998PTC051098	ELCON GREENGEN INDIA PRIVATE LIMITED	Additional director	12/10/2012	12/10/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Seetha Reddy Avula	8900
Raja Sekhar Reddy Kakumanu	1100
Total	10000

As on 02.11.2012

Names of Allottee	No. of Shares
Bharat Reddy Avula	4750000
Total	4750000

As on 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Subject is an independent power producer developing clean energy assets.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· HDFC Bank Limited, Lakdikapool, Hyderabad, Andhra Pradesh, India

· UCO Bank, Habsiguda, Hyderabad, Andhra Pradesh, India

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
1. Term loans:
From banks:
a. HDFC Bank Vehicle Loan	0.734	0.000
Total	0.734	0.000

Notes:

The auto loan of Rs.1.022 millions is sanctioned by HDFC Bank on 5^th March 2012, which is repayable in 60 monthly installments of Rs.0.022 million each (including interest), the outstanding balance as on 31.03.2012 Rs.1.000 million.

Banking Relations :	--
Auditors :
Name :	L.S. Reddy and Company Chartered Accountants
Address :	Flat No.504, Afzal Commercial Complex, Lakdikapul, Hyderabad – 500 004, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AAMPL9063E

CAPITAL STRUCTURE

After 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4760000	Equity Shares	Rs.10/- each	Rs.47.600 millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million

Notes:

All the equity shares carry equal rights and obligations including for dividend and with respect to voting rights

Names of shareholders holding more than 5% of the share capital and their shareholding

S. No.	Name of shareholder	31^st March, 2012
		No. of Shares	Amount (Rs. in millions)
1	Seetha Reddy Avula	8900	0.089
2	Raja Sekhar Reddy Kakumanu	1100	0.011

Share application money pending for allotment 3195000 shares will be allotted during the financial year on or before 31.03.2013

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money Pending Allotment		31.950	4.930	1.030
3] Reserves & Surplus		3.613	4.178	4.205
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		35.663	9.208	5.335
LOAN FUNDS
1] Secured Loans		0.734	0.000	0.000
2] Unsecured Loans		4.044	0.000	0.000
TOTAL BORROWING		4.778	0.000	0.000
DEFERRED TAX LIABILITIES		0.028	0.000	0.000
TOTAL		40.469	9.208	5.335
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.142	0.224	0.000
Capital work-in-progress		0.675	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	12.136	1.620	0.240
	Other Current Assets	20.815	2.806	0.000
	Loans & Advances	4.815	4.648	5.093
Total Current Assets		37.766	9.074	5.333
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	1.114	0.010	0.001
	Provisions	0.000	0.080	0.000
Total Current Liabilities		1.114	0.090	0.001
Net Current Assets		36.652	8.984	5.332
MISCELLANEOUS EXPENSES		0.000	0.000	0.003
TOTAL		40.469	9.208	5.335

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	0.000	0.000	0.000
		Other Income	0.530	0.534	0.675
		TOTAL (A)	0.530	0.534	0.675
Less	EXPENSES
		Other expenses	0.698	0.474	0.009
		TOTAL (B)	0.698	0.474	0.009
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.168)	0.060	0.666
Less	FINANCIAL EXPENSES (D)		0.181	0.006	0.035
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.349)	0.054	0.631
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.188	0.001	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(0.537)	0.053	0.631
Less	TAX (H)		0.028	0.080	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(0.565)	(0.027)	0.631
	Earnings/ (Loss) Per Share (Rs.)		(56.50)	(2.70)	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(106.60)	(5.06)	93.48
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(1.31)	0.57	11.83
Return on Investment (ROI) (PBT/Networth)		(0.02)	0.01	0.12
Debt Equity Ratio (Total Debt/Networth)		0.13	0.00	0.00
Current Ratio (Current Asset/Current Liability)		33.90	100.82	5333.00

LOCAL AGENCY FURTHER INFORMATION

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	No
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

Note:

The registered office of the company has been shifted from Plot No. B-128, Ravinder Nagar Colony, Habsiguda, Hyderabad – 500 007, Andhra Pradesh to the present address w.e.f. 11.02.2012

Unsecured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
1. Loans and advances from related parties	0.000	0.000
2. From Others	4.044	0.000
Total	4.044	0.000

Notes:

Unsecured loan from Kakinada Sea Ports Limited

FIXED ASSETS:

Tangible Assets:

· 10 MW Mast

· Computer and Printers

· Furniture and Fixtures

· Office Equipment

· Vehicles

Intangible Assets:

· Software

WEBSITE DETAILS:

PROFILE:

Subject is an independent power producer developing clean energy assets in India. Subject has identified and commenced project execution works for over 80 MW of renewable power projects of which 60 MW is wind energy and 20 MW solar energy. In addition to the megawatt – scale capacities, the company is expecting government approval very shortly for implementation of over 800 MW of wind energy capacities.

The Company is adopting strategies to de-risk the portfolio by spreading across various states and by having operating assets with different renewable energy sources. Special emphasis is being laid to develop the projects using world-wide proven technology, under the supervision and guidance of sector experts.

Subject is actively pursuing acquisition of viable wind project sites from equipment manufacturers or developers for adding operational assets to the portfolio. Wind energy projects would be the significant contributor to the company’s portfolio. With the presence of specialised personnel in project viability assessment, power evacuation, power sale arrangements, project finance, techno-commercial contracts, legal, liasioning etc, Subject strongly believes that its team working cohesively will ensure the goals are met.

The Company’s target is to have 20 MW of operational capacity by June, 2013, scaling it to 100 MW by December, 2013 and reach 200 MW by March, 2014.

The Company’s vision is to have 1000 MW of operating clean energy assets by 2017.

BOARD OF DIRECTORS

Mr. M. Goutham Reddy

Director

Mr. Goutham Reddy is a US returned Environmental Engineer and has been working with Ramky Group since Aug 2001, with active participation in the Real Estate, Waste Management, Civil infrastructure development and associated businesses. He has vast experience in property development. He brings in environmental attributes to the real estate sector. Mr. Goutham Reddy has the credit and distinction of being a part of establishing and operating India’s first integrated hazardous waste and medical waste management facilities. He has grown within the Ramky group and currently working as Director - Strategic Planning.

Mr. Goutham Reddy has earlier worked as Scientist at Environment Protection Training and Research Institute and has been associated with various environmental projects with specific focus on solid waste management.

Mr. Goutham Reddy holds a Masters degree in Environmental Engineering from USA with waste management training in Australia and environmental monitoring training in Sweden.

Mr. L. Pundareek

Director

Mr. Pundareek is the Director - Energy Sector at Ramky Enviro Engineers Limited. He worked with the Bharat Heavy Electricals Limited (BHEL) for 36 years and has handled various roles like Safety, Quality and Product testing. He rose from commissioning steam turbine generators to heading the transmission business as the Executive Director of BHEL. At Ramky Enviro Engineers Limited, he is looking after the development of Renewable Energy Projects.

He holds a Bachelor's degree in Mechanical Engineering from the Osmania University, Hyderabad.

Mr. L. Krishna Sankar

Director

Mr. Sankar has over 28 years of experience in the Infrastructure sector. He started his career in 1977 as a contractor to undertake various civil and mechanical works for irrigation projects. He has extensive knowledge and experience in multi project planning, project implementation, cost controls etc, in addition to overall construction and multi project management. Mr. Sankar also served as a Board Member of Andhra Pradesh Small Scale Industries Development Corporation.

Mr. Sankar has a diversified experience in identifying and implementing potential business opportunities in renewable energy across various states in India. Mr. Sankar leads the Corporate Social Responsibility (CSR) activities of the company.

Mr. Sankar holds a Master’s degree in Commerce and Business Management.

Mr. A Bharat Reddy

Director

Mr. Reddy has over 6 years of experience in Infrastructure development related activities. He has earlier worked in the fields of finance, Information Technology, consultancy and CDM related aspects of the Infrastructure sector. He has been associated with major MNCs companies like TCS, Arthur Anderson. He has experience in project finance of large scale hydel and thermal power projects.

Mr. Reddy has been very active in wind industry for last 4 years and was instrumental in securing project capacities, power evacuation approvals, land allotments etc for the projects from various state government agencies.

Mr. Reddy holds a Master’s degree in Finance.

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 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.53.87
UK Pound	1	Rs.83.59
Euro	1	Rs.72.38

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		12

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.