MIRA INFORM REPORT

Report Date :

24.01.2013

IDENTIFICATION DETAILS

Name :	IMPACT SOLAR POWER PRIVATE LIMITED (w.e.f.03.07.2012)
Formerly Known As :	CAPITAL CELLULAR COMMUNICATIONS PRIVATE LIMITED CAPITAL CELLULAR PRIVATE LIMITED
Registered Office :	2, Sindhu Nagar Nahari Ka Naka, Shastri Nagar, Jaipur – 302016, Rajasthan
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	05.09.2006
Com. Reg. No.:	17-023048
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U40106RJ2006PTC023048
Legal Form :	Private Limited Liability Company
Line of Business :	Solar Power Sector (Not yet started business activity)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

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 :	No Business Activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Eventhough the subject was incorporated during the year 2006. The company has not recorded any business activity. Payments are unknown. The company can be considered for business dealings on a secured 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

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 :	2, Sindhu Nagar Nahari Ka Naka, Shastri Nagar, Jaipur – 302016, Rajasthan, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	cschouhanr_007@rediffmail.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Mukesh Kumar Gupta

Designation :

Director

Address :

F-11, Lalpuria Gagan Apartment, Sector 2, Vidhyadhar Nagar, Jaipur – 302023, Rajasthan, India

Date of Birth/Age :

25.10.1975

Date of Appointment :

05.09.2006

DIN No.:

00644126

Name :

Mr. Birbal Gupta

Designation :

Additional director

Address :

8/347, Vidha Dhar Nagar, Jaipur – 302023, Rajasthan, India

Date of Birth/Age :

15.05.1963

Date of Appointment :

09.05.2007

DIN No.:

01505194

Name :

Mr. Sunil Kumar Bansal

Designation :

Director

Address :

House No. 262, Sector No. 2, Vidhya Dhar Nagar, Jaipur – 302013, Rajasthan, India

Date of Birth/Age :

26.04.1969

Date of Appointment :

29.09.2012

DIN No.:

02587754

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	U45201RJ2007PTC024100	LAKSHYA BUILDHOME PRIVATE LIMITED	Director	26/03/2007	26/03/2007	Active	NO
2	U40106RJ2006PTC023048	IMPACT SOLAR POWER PRIVATE LIMITED	Director	29/09/2012	04/07/2012	Active	NO

Name :

Mr. Nitant Megotia

Designation :

Director

Address :

502, K K Tower, Ghiya Marg, Bani Park, Jaipur – 302016, Rajasthan, India

Date of Birth/Age :

16.06.1990

Date of Appointment :

29.09.2012

DIN No.:

05298271

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	U40106RJ2006PTC023048	IMPACT SOLAR POWER PRIVATE LIMITED	Director	29/09/2012	04/06/2012	Active	NO

Name :

Mr. Ravi Shankar Megotia

Designation :

Director

Address :

8/376, Vidhyadhar Nagar Sector A, Ward No. 4, Jaipur – 302023, Rajasthan, India

Date of Birth/Age :

30.11.1971

Date of Appointment :

29.09.2012

DIN No.:

05298277

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	U40106RJ2006PTC023048	IMPACT SOLAR POWER PRIVATE LIMITED	Director	29/09/2012	04/06/2012	Active	NO

Name :

Mrs. Sumitra Agarwal

Designation :

Director

Address :

B 87, Ganga Sagar, Vaishali Nagar, Ward No. 11, Jaipur – 302021, Rajasthan, India

Date of Birth/Age :

01.07.1960

Date of Appointment :

29.09.2012

DIN No.:

05298281

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	U40106RJ2006PTC023048	IMPACT SOLAR POWER PRIVATE LIMITED	Director	29/09/2012	04/06/2012	Active	NO

Name :

Mrs. Meera Devi Goyal

Designation :

Director

Address :

8 376, Ward No. 69, Vidhyadhar Nagar, Sector 8, Tehsil: Jaipur – 302023, Rajasthan, India

Date of Birth/Age :

19.08.1964

Date of Appointment :

29.09.2012

DIN No.:

05299073

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	U40106RJ2006PTC023048	IMPACT SOLAR POWER PRIVATE LIMITED	Director	29/09/2012	04/06/2012	Active	NO

Name :

Mr. Rakesh Kumar Gupta

Designation :

Director

Address :

F-11, Ward No. 68, Lalpuriya Gagan Apartment, Teh. Jaipur – 302023, Rajasthan, India

Date of Birth/Age :

25.10.1971

Date of Appointment :

29.09.2012

DIN No.:

05313084

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	U40106RJ2006PTC023048	IMPACT SOLAR POWER PRIVATE LIMITED	Director	29/09/2012	20/06/2012	Active	NO

Name :

Mr. Raghav Garg

Designation :

Director

Address :

50, Sanjay Colony, New R.P.A. Road,, Nehru Nagar, Jaipur - 302016, Rajasthan, India

Date of Birth/Age :

02.01.1984

Date of Appointment :

29.09.2012

DIN No.:

05339057

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	U40106RJ2006PTC023048	IMPACT SOLAR POWER PRIVATE LIMITED	Director	29/09/2012	04/07/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Birbal Gupta	670600
Mukesh Gupta	25000
Nitant Mangotia	520000
Sunil Bansal	370000
Sumitra Agarwal	240000
Raghav Garg	200000
Ravi Shankar Mangotia	211100
Rakesh Gupta	100000
Meera Devi Goyal	36500
Total	2373200

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :

Solar Power Sector (Not yet started business activity)

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	State Bank of Bikaner and Jaipur, International Banking Branch, Trimurti Circle, Jaipur – 302004, Rajasthan, India

Banking Relations :	--
Auditors :
Name :	S Tapria and Associates Chartered Accountants
Address :	183, Ganesh Colony, Sirsi Road, Sirsi Mode, Royal Green Apartment, Jaipur – 302021, Rajasthan, India
Income-tax PAN of auditor or auditor's firm :	AFFPT0637J

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs. 10/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,373,200	Equity Shares	Rs. 10/- each	Rs. 23.732 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

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

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		0.337	0.337	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(0.105)	(0.089)	(0.127)
NETWORTH		0.332	0.348	(0.027)
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.332	0.348	(0.027)
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.022	0.032	0.017
Capital work-in-progress		0.000	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	0.069	0.097	0.000
	Cash & Bank Balances	0.006	0.010	0.048
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.240	0.220	0.137
Total Current Assets		0.315	0.327	0.185
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	0.005	0.011	0.237
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.005	0.011	0.237
Net Current Assets		0.310	0.316	(0.052)
MISCELLANEOUS EXPENSES		0.000	0.000	0.008
TOTAL		0.332	0.348	(0.027)

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	0.000	11.775	0.000
Less	EXPENSES
		TOTAL	0.016	11.714	0.014
	PROFIT/ (LOSS) BEFORE TAX		(0.016)	0.038	(0.014)
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		(0.016)	0.038	(0.014)
	Earnings/ (Loss) Per Share (Rs.)		(1.60)	3.80	(1.40)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.00	0.32	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(4.75)	10.58	(6.93)
Return on Investment (ROI) (PBT/Networth)		(0.05)	0.11	0.52
Debt Equity Ratio (Total Liability/Networth)		0.02	0.03	(8.78)
Current Ratio (Current Asset/Current Liability)		63.00	29.73	0.78

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	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	No
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 address of the company has been shifted from O-2A, Shekhawati Enclave, C-35, Lajpat Marg, C-Scheme, JAIPUR - 302005, Rajasthan, India to the present w.e.f. 01.04.2010

CHANGE OF NAME OF THE COMPANY:

During the period company has diversify its business from telecom sector to solar power sector and according to that also change name of the Company from Capital Cellular Private Limited to Impact Solar Power Private Limited and complied with all the provisions of Companies Act, 1956.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U40106RJ2006PTC023048
Name of the company	IMPACT SOLAR POWER PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2, Sindhu Nagar Nahari Ka Naka, Shastri Nagar, Jaipur – 302016, Rajasthan, India Email: cschouhanr_007@rediffmail.com
This form is for	Creation of charge
Type of charge	Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	State Bank of Bikaner and Jaipur, International Banking Branch, Trimurti Circle, Jaipur – 302004, Rajasthan, India Email: ashokbumbco@yahoo.co.in
Nature of description of the instrument creating or modifying the charge	Letter of Arrangement Agreement of Loan cum Hypothecation Letter of confirmation for creation of mortgage by deposit of title deeds Board Resolution
Date of instrument Creating the charge	08.12.2012
Amount secured by the charge	Rs. 80.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest @ 1.25% margin above base rate which is presently 10.25% p.a., present effective rate 11.50% p.a. for one year thereafter applicable rate of interest as per credit rating of the company. Terms of Repayment Term loan is to be repaid in 80 monthly installments of Rs. 1.000 Millions each with first installment commencing on July 2013 and last installment falling due on Feb. 2020 Margin Term Loan 34.96% L/C and B/G 20% Extent and Operation of the charge The charge operates on first charge basis. Others Limit of Rs.80.000 Million sanctioned. Detailed as Term Loan Rs. 80.000 Millions Total Fund Based limit Rs. 80.000 Millions Non Fund Based - Letter of credit ( Within TL ) ( Rs. 52.500 Millions ) Bank Guarantee (Within TL) ( Rs. 3.000 Millions ) Total Non Fund Based (Rs.55.500 Millions ) Total ( FB + NFB ) Rs. 80.000 Millions
Short particulars of the property charged	First charge by way of hypothecation of company's of entire current assets (existing and future) including Book Debts, Stock First charge by way of equitable mortgage of land situated at Village Sarah Kisnayat, Tehsil Kolayat, District Bikaner in the name of company. Equitable mortgage of immovable property at Flat No. 502, 5th Floor, K K Tower, Opposite Subhash Nagar Shopping Complex, Nirwan Marg, Jhotwara Road, Jaipur in name of Smt. Anita Agarwal. Equitable mortgage of immovable property at Plot No. 50, Sanjay Colony, Near Pani Petch, Jaipur in name of Sh. Santosh Agarwal. Equitable mortgage of immovable property at office No. 213, Crown Square, Gandhi Path, Scheme No. 8, Ajmer Road, Jaipur in name of Sh. Manish Garg. Equitable mortgage of immovable property at Plot No. D -9/193, Chitrakoot Nagar, Sector 9, Jaipur in name of Sh. Murari Lal Singhal

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] 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. 53.77
UK Pound	1	Rs. 85.14
Euro	1	Rs. 71.57

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	-
--CREDIT LINES	1~10	-
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		11

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	-

7

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