MIRA INFORM REPORT

Report Date :

30.01.2014

IDENTIFICATION DETAILS

Name :	NUEVOSOL ENERGY PRIVATE LIMITED
Registered Office :	Plot No. 409, Ground Floor, Maps Towers, Road No. 81, Phase - 3, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.09.2011
Com. Reg. No.:	01-076517
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U74200AP2011PTC076517
TAN No.: [Tax Deduction & Collection Account No.]	HYDN04608C
Legal Form :	Private Limited Liability Company
Line of Business :	Providing solutions for Mounting Systems like Solar Panel Mounting Structure, Ground Mount Structure, Solar Racking System etc.
No. of Employees :	50 (Approximately)

ECGC Country Risk Classification List – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

The services sector, the largest contributor to India’s GDP, contracted for the sixth consecutive month in December, as orders dipped. However, hiring has risen.  Direct tax collections rose 12.3 % during the April – December period of the current financial year.  The government has decided to retain 100 per cent foreign direct investment in both greenfield (new) and brown field (existing) pharmaceutical companies, despite concerns over genetic drugs going out of production, if multi-national companies take over domestic ones. In M&A deals, a non compete clause would not be allowed, except in special circumstances. The Department of Industrial Policy and Promotion plans to release the next edition of its consolidated foreign direct investment policy document on March 31, incorporating changes made in the past year. DIPP compiles all policies related to India’s FDI regime into a single document to make it easy for investors to understand. 185 million estimated number of mobile internet users in India by June 2014, according to a report by the Internet & Mobile Association of India and IMRB International.  India had 110 million mobile internet users with 25 million in rural areas. $3.77 tn estimated global IT spending in 2014, according to research firm Gartner Inc. The growth forecast for this year is cut to 3.1 %from the earlier estimate of 3.5 %. The spending growth forecast for telecom services – a segment that accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is the main reason for this overall IT cut. A Reserve Bank of India committee has recommended setting up a special category of lenders who would cater to small businesses and households, to expand the number of customers with access to banking services. These banks would focus onproviding payment services and deposit products.  Indian banks want the free use of automated teller machines to be capped at five transactions in a month including that of the bank in which the account is active. This follows state government order to banks to install security guards at ATM booths after a woman banker was assaulted in Bangalore. The government is likely to present a vote on Account in mid-February. The annual Economic Survey will be tabled later in Parliament along with the full Budget. A full Budget for 2014/15 is likely to be present in July by the new government formed after the General Election. The government will soon launch an internet spy system, called Netra, to detect malafide messages. Security agency will deploy the system to capture dubious voice traffic on applications such as Skype and Google Talk, as well as tweeters.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term rating : BB
Rating Explanation	Moderate risk of default
Date	September 2013

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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Ms. Saranga Jagna
Designation :	Office Executive
Contact No.:	91-40-23592222

LOCATIONS

Registered/ Corporate Office :	Plot No. 409, Ground Floor, Maps Towers, Road No. 81, Phase - 3, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India
Tel. No.:	91-40-23551006/ 64644777/ 23592222
Fax No.:	91-40-64644777
E-Mail :	parclients@gmail.com info@nuevo-sol.com
Website :	http://www.nuevosol.co.in
Location :	Owned

DIRECTORS

AS ON 28.09.2012

Name :

Mr. Harish Chowdary Krothapalli

Designation :

Director

Address :

8-9-293/F/16, Jubilee Hills, Jawahar Nagar, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

29.06.1987

Date of Appointment :

14.09.2011

DIN No.:

03586316

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	U74200AP2011PTC076517	NUEVOSOL ENERGY PRIVATE LIMITED	Director	14/09/2011	14/09/2011	Active	NO
2	U40105AP2013PTC087248	BLUFIELDS ENERGY PRIVATE LIMITED	Director	25/04/2013	25/04/2013	Active	NO

Name :

Mr. Srinivas Rao Maganti

Designation :

Director

Address :

8-3-833/8, Phase-1, Srinagar Colony, Hyderabad – 500073, Andhra Pradesh, India

Date of Birth/Age :

22.02.1988

Date of Appointment :

14.09.2011

DIN No.:

03586329

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	U74200AP2011PTC076517	NUEVOSOL ENERGY PRIVATE LIMITED	Director	14/09/2011	14/09/2011	Active	NO
2	U40105AP2013PTC087248	BLUFIELDS ENERGY PRIVATE LIMITED	Director	25/04/2013	25/04/2013	Active	NO

Name :

Mr. Sriram Dasari

Designation :

Director

Address :

R. No. 542, Tamraparani Hostel, IIT Madras, Chennai – 600036, Tamilnadu, India

Date of Birth/Age :

18.07.1986

Date of Appointment :

14.09.2011

DIN No.:

03586333

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	U74200AP2011PTC076517	NUEVOSOL ENERGY PRIVATE LIMITED	Director	14/09/2011	14/09/2011	Active	NO
2	U40100AP2011PTC076621	ILIOS POWER PRIVATE LIMITED	Director	20/09/2011	20/09/2011	Active	NO
3	U40105AP2013PTC087248	BLUFIELDS ENERGY PRIVATE LIMITED	Director	25/04/2013	25/04/2013	Active	NO

Name :

Mr. Himamsu Popuri

Designation :

Director

Address :

11-2-51, Balagi Nagar, Chammam, Hyderabad – 507001, Andhra Pradesh, India

Date of Birth/Age :

29.06.1987

Date of Appointment :

14.09.2011

DIN No.:

03586407

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	U74200AP2011PTC076517	NUEVOSOL ENERGY PRIVATE LIMITED	Director	14/09/2011	14/09/2011	Active	NO
2	U40100AP2011PTC076621	ILIOS POWER PRIVATE LIMITED	Director	20/09/2011	20/09/2011	Active	NO
3	U40105AP2013PTC087248	BLUFIELDS ENERGY PRIVATE LIMITED	Director	25/04/2013	25/04/2013	Active	NO

Name :

Mr. Nikhilbabu Pachipulusu

Designation :

Director

Address :

Room No. 457, Godavari Hostel IIT Madras, Chennai – 600036, Tamilnadu, India

Date of Birth/Age :

24.03.1987

Date of Appointment :

14.09.2011

DIN No.:

03608397

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	U74200AP2011PTC076517	NUEVOSOL ENERGY PRIVATE LIMITED	Director	14/09/2011	14/09/2011	Active	NO
2	U40100AP2011PTC076621	ILIOS POWER PRIVATE LIMITED	Director	20/09/2011	20/09/2011	Active	NO
3	U40105AP2013PTC087248	BLUFIELDS ENERGY PRIVATE LIMITED	Director	25/04/2013	25/04/2013	Active	NO

KEY EXECUTIVES

Name :	Ms. Saranga Jagna
Designation :	Office Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2012

Names of Shareholders	No. of Shares
Sriram Dasari	2000
Himamsu Popuri	2000
Harish Chowdary Krothapalli	2000
Srinivas Rao Maganti	2000
Nikhilbabu Pachipulusu	2000
Total	10000

AS ON 27.12.2012

Names of Allottees	No. of Shares
Sriram Dasari	213485
Himamsu Popuri	213485
Srinivas Rao Maganti	213485
Harish Chowdary Krothapalli	213485
Nikhilbabu Pachipulusu	213485
Total	1067425

AS ON 28.09.2012

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

BUSINESS DETAILS

Line of Business :	Providing solutions for Mounting Systems like Solar Panel Mounting Structure, Ground Mount Structure, Solar Racking System etc.
Terms :
Selling :	Cheque
Purchasing :	Cheque

GENERAL INFORMATION

Customers :	Wholesalers and OEM’s
No. of Employees :	50 (Approximately)
Bankers :	Ø Punjab National Bank, Hyderabad, Andhra Pradesh, India Ø State Bank of Hyderabad, Sanath Nagar Branch, Sanath Nagar Industrial Estate, Hyderabad - 500018, Andhra Pradesh, India

Banking Relations :	--
Auditors :
Name :	Pavuluri and Company Chartered Accountants
Address :	105, 1st Block, 1st Floor, Divyashakti Complex, Ameerpet, Hyderabad – 500016, Andhra Pradesh, India
Tel. No.:	91-40-23731837/ 40258691
Fax No.:	91-40-23748729
E-Mail :	pavuluriandco@gmail.com pavuluriandco@hotmail.com
Income-tax PAN of auditor or auditor's firm :	AAKFP8963F

CAPITAL STRUCTURE

AFTER 28.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,077,425	Equity Shares	Rs. 10/- each	Rs. 10.774 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250,000	Equity Shares	Rs. 10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	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
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	6.638
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	6.738
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.017
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.017
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	15.484
(c) Other current liabilities	9.051
(d) Short-term provisions	9.516
Total Current Liabilities (4)	34.051
TOTAL	40.806
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.858
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.039
(e) Other Non-current assets	0.000
Total Non-Current Assets	0.897
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	29.073
(d) Cash and cash equivalents	6.467
(e) Short-term loans and advances	4.356
(f) Other current assets	0.013
Total Current Assets	39.909
TOTAL	40.806

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012
	SALES
		Revenue from operations	173.275
		Other Income	0.075
		TOTAL (A)	173.350
Less	EXPENSES
		Material consumed	16.774
		Employee benefits	6.575
		Other Expenses	139.570
		TOTAL (B)	162.919
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.431
Less	FINANCIAL EXPENSES (D)		0.286
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		10.145
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.066
	PROFIT BEFORE TAX (E-F) (G)		10.079
Less	TAX (H)		3.441
	PROFIT AFTER TAX (G-H) (I)		6.638
	Earnings Per Share (Rs.)		663.76

KEY RATIOS

PARTICULARS		31.03.2012
PAT / Total Income	(%)	3.83
Net Profit Margin (PBT/Sales)	(%)	5.82
Return on Total Assets (PBT/Total Assets}	(%)	24.70
Return on Investment (ROI) (PBT/Networth)		1.50
Debt Equity Ratio (Total Debt/Networth)		0.00
Current Ratio (Current Asset/Current Liability)		1.17

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one year	Yes
12]	Profitability for last one year	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	Yes
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	No
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

Note:

The registered office of the company has been shifted from D. No. 8-3-833/15, F No. 353, Plot No. 15, Kamalapuri Colony, Sri Nagar Colony Post, Hyderabad – 500073, Andhra Pradesh, India to the present w.e.f.21.07.2012

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10389845	21/12/2012 *	140,000,000.00	STATE BANK OF HYDERABAD	SANATH NAGAR BRANCH, SANATH NAGAR INDUSTRIAL ESTATE, HYDERABAD - 500018, ANDHRA PRADESH, INDIA	B65816142

* Date of charge modification

FIXED ASSETS:

Ø Furniture and Fixture

Ø Plant and Machinery

Ø Office Equipments

Ø Computers

Ø Vehicles

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.62.20
UK Pound	1	Rs.103.11
Euro	1	Rs.84.96

INFORMATION DETAILS

Information Gathered by :	NAY
Report Prepared by :	NKT

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.