MIRA INFORM REPORT

Report No. :	317332
Report Date :	13.04.2015

IDENTIFICATION DETAILS

Name :		KVR POWER PROJECTS INDIA LIMITED
Registered Office :		Flat No. 2, 4th Floor, Dr. No. 47-11-3, Eswar Home, Dwarkanagar, Visakhapatnam – 533016, Andhra Pradesh
Tel. No.:	91-891-2763877
Country :		India
Financials (as on) :		31.03.2013
Date of Incorporation :		15.01.2010
Com. Reg. No.:		01-066700
Capital Investment / Paid-up Capital :		Rs. 0.590 Million
CIN No.: [Company Identification No.]		U40108AP2010PLC066700
TAN No.: [Tax Deduction & Collection Account No.]		VPNK00987A
PAN No.: [Permanent Account No.]		AAECK0213G
Legal Form :		A Closely Held Public Limited Liability Company
Line of Business :		To set up independent electric power projects of any Mega Watt (M.W). capacity in any part of the country and abroad suitable to the existing need by using the inputs of hydro, thermal, naptha, gas, diesel, wind, nuclear, renewable (bio-gas) sources or any other globally accepted one.
No. of Employees :		Not Divulged

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 :	Yet to commence its operations
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company got its incorporation during January 2010, it is still under pre-operative stage as per director’s report 2013. Management of the company has failed to file its latest financial with government department for FY2014. Business is active as per status shown in the Registrar of Companies. Payment terms are unknown. The company can be considered for business dealings on 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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

NOT AVAILABLE

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 31-03-2014.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE

[CONTACT NO.: 91-891-2763877]

LOCATIONS

Registered Office :	Flat No. 2, 4th Floor, Dr. No. 47-11-3, Eswar Home, Dwarkanagar, Visakhapatnam – 533016, Andhra Pradesh, India
Tel. No.:	91-891-2763877
Fax No.:	Not Available
E-Mail :	kvrpowerprojects@gmail.com
Admin Office :	Bobbili Road, Rajam, District Srikakulam, Andhra Pradesh, India
Tel. No.:	91-8941-251009/ 251108
Fax No.:	91-8941-251308

DIRECTORS

AS ON 30.09.2013

Name :

Venkata Rao Kotha

Designation :

Managing director

Address :

D. No. 15-141(1), Cheepurupalli Road, Rajam - 532127, Andhra Pradesh, India

Date of Birth/Age :

01.01.1960

Date of Appointment :

01.07.2012

DIN No.:

00356024

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	U17232AP1994PLC018828	SRI LAKSHMI SRINIVASA JUTE MILLS LIMITED	Managing director	28-11-1994	28-11-1994	-	Active	NO
2	U17119TG1999PLC032640	KVR INDUSTRIES LIMITED	Director	05-10-1999	05-10-1999	-	Active	NO
3	U17119AP1996PTC024539	RATNAM JUTE PRIVATE LIMITED	Director	30-09-2003	30-09-2003	-	Active	NO
4	U27310WB2007PTC114223	SHAUNAK FERRO PRIVATE LIMITED	Director	01-09-2008	01-09-2008	12-06-2012	Active	NO
5	U51109MH2007PTC255255	RELAX VYAPAAR PRIVATE LIMITED	Director	01-09-2008	01-09-2008	11-06-2012	Active	NO
6	U70102AP2008PTC060940	KVR INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED	Director	30-06-2012	09-09-2008	-	Active	NO
7	U40108AP2010PLC066700	KVR POWER PROJECTS INDIA LIMITED	Managing director	01-07-2012	15-01-2010	-	Active	NO
8	U63090AP2009PTC066310	KVR OFFSHORE PRIVATE LIMITED	Director	30-12-2010	01-03-2010	-	Active	NO
9	U51109AP2013PTC087500	KVR EXIM PRIVATE LIMITED	Director	06-05-2013	06-05-2013	-	Active	NO

Name :

Harika Kotha

Designation :

Director

Address :

D. No. 15-141(1), Cheepurupalli Road, Rajam - 532127, Andhra Pradesh, India

Date of Birth/Age :

13.07.1984

Date of Appointment :

15.01.2010

DIN No.:

00356225

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	U17232AP1994PLC018828	SRI LAKSHMI SRINIVASA JUTE MILLS LIMITED	Director	10-03-2003	10-03-2003	Active	NO
2	U17119TG1999PLC032640	KVR INDUSTRIES LIMITED	Managing director	30-08-2005	30-08-2005	Active	NO
3	U70102AP2008PTC060940	KVR INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED	Director	09-09-2008	09-09-2008	Active	NO
4	U40108AP2010PLC066700	KVR POWER PROJECTS INDIA LIMITED	Director	15-01-2010	15-01-2010	Active	NO
5	U51109AP2013PTC087500	KVR EXIM PRIVATE LIMITED	Managing director	06-05-2013	06-05-2013	Active	NO

Name :

Venkata Rama Lalit Ranjit Pyda

Designation :

Director

Address :

68-12-9, 5 Building Centre, Kakinada, East Godavari - 533003, Andhra Pradesh, India

Date of Birth/Age :

25.06.1981

Date of Appointment :

15.01.2010

DIN No.:

02743135

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	U27310WB2007PTC114223	SHAUNAK FERRO PRIVATE LIMITED	Director	01-09-2008	01-09-2008	12-06-2012	Active	NO
2	U51109MH2007PTC255255	RELAX VYAPAAR PRIVATE LIMITED	Director	01-09-2008	01-09-2008	11-06-2012	Active	NO
3	U17232AP1994PLC018828	SRI LAKSHMI SRINIVASA JUTE MILLS LIMITED	Additional director	01-08-2009	01-08-2009	-	Active	NO
4	U63090AP2009PTC066310	KVR OFFSHORE PRIVATE LIMITED	Managing director	16-12-2009	16-12-2009	-	Active	NO
5	U40108AP2010PLC066700	KVR POWER PROJECTS INDIA LIMITED	Director	15-01-2010	15-01-2010	-	Active	NO
6	U51109AP2013PTC087500	KVR EXIM PRIVATE LIMITED	Director	06-05-2013	06-05-2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Venkata Rao Kotha	2500
Ratna Kumari Kotha	2500
Swapna Kotha	200
Harika Kotha	200
Pyda Krishna Mohan	200
Venkata Rama Lalit Ranjit Pyda	200
K. Sravanthi	100
Total	5900

AS ON 30.09.2013

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

BUSINESS DETAILS

Line of Business :	To set up independent electric power projects of any Mega Watt (M.W). capacity in any part of the country and abroad suitable to the existing need by using the inputs of hydro, thermal, naptha, gas, diesel, wind, nuclear, renewable (bio-gas) sources or any other globally accepted one.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Not Divulged
Countries :	Not Divulged
Imports :
Products :	Not Divulged
Countries :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Central Bank of India

MID Corporate Finance Branch, D.No.50.81.25, J.K. Centre, Seethammapet, Visakhapatnam - 530016, Andhra Pradesh, India

· State Bank of India

Facilities :

--

Banking Relations :	--
Auditors :
Name :	E.R. Somayajulu Chartered Accountants
Address :	Srirama, Kothagraharam, Vizianagaram – 535001, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AAAPE9890J
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AFTER 30.09.2013

Authorised Capital : Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 70.000 Million

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,900	Equity Shares	Rs. 10/- each	Rs. 0.590 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.590	0.590	0.590
(b) Reserves & Surplus	0.000	0.000	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	19.492	0.336	0.336
Total Shareholders’ Funds (1) + (2)	20.082	0.926	0.926
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	3.869	1.241	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	3.869	1.241	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.000	0.000	1.241
(d) Short-term provisions	0.124	0.010	0.010
Total Current Liabilities (4)	0.124	0.010	1.251
TOTAL	24.075	2.177	2.177
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	16.947	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.190
(e) Other Non-current assets	0.261	0.158	1.943
Total Non-Current Assets	17.208	0.158	2.133
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.409	0.033	0.044
(e) Short-term loans and advances	0.628	0.190	0.000
(f) Other current assets	5.830	1.796	0.000
Total Current Assets	6.867	2.019	0.044
TOTAL	24.075	2.177	2.177

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
				PRELIMINARY AND PREOPERATIVE ACCOUNT
	SALES
		Misc. Receipts	0.000	0.000	0.000
		Other Income	0.000	0.000	0.000
		TOTAL	0.000	0.000	0.000
Less	EXPENSES
		Audit fees	0.000	0.010	0.010
		Bank Charges	0.000	0.001	0.003
		Consultancy Charges	0.000	0.000	0.889
		General Expenses	0.000	0.000	0.000
		License and Fees	0.000	0.000	0.024
		Printing and Stationery	0.000	0.000	0.000
		Processing Fees	0.000	0.000	0.225
		ROC Filing Charges	0.000	0.000	0.158
		Stamp Duty	0.000	0.000	0.016
		Travelling Expenses	0.000	0.000	0.618
		TOTAL	0.000	0.011	1.943
	PROFIT/ (LOSS) BEFORE TAX		0.000	(0.011)	(1.943)
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		0.000	(0.011)	(1.943)
	Earnings/ (Loss) Per Share (Rs.)		0.00	(1.86)	(329.32)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	0.00	0.00	0.00
Operating Profit Margin (PBDIT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00	0.00	0.00
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		55.38	201.90	0.04

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.590	0.590	0.590
Reserves & Surplus	0.000	0.000	0.000
Share Application money pending allotment	0.336	0.336	19.492
Net worth	0.926	0.926	20.082
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	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	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10429502	01/06/2013 *	350,000,000.00	CENTRAL BANK OF INDIA	MID CORPORATE FINANCE BRANCH, D.NO.50.81.25, J.K.  CENTRE, SEETHAMMAPET, VISAKHAPATNAM, ANDHRA PRADESH - 530016, INDIA	B77099638

* Date of charge modification

FINANCIAL HIGHLIGHTS

The Company is yet to commence its commercial operations and efforts are being made to start the operations soon.

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. 62.37
UK Pound	1	Rs. 91.60
Euro	1	Rs. 66.49

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	SUM
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	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	--
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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	--

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.