MIRA INFORM REPORT

Report No. :	490433
Report Date :	10.02.2018

IDENTIFICATION DETAILS

Name :	BVG CLEAN ENERGY LIMITED (w.e.f. 19.10.2012)
Formerly Known As :	BVG POWER LIMITED
Registered Office :	BVG House, Premier Plaza, Mumbai Pune Road, Chinchwad, Pune – 411019, Maharashtra
Tel. No.:	91-20-27464220
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	24.06.2008
Com. Reg. No.:	11-132306
Capital Investment / Paid-up Capital :	INR 0.500 Million
CIN No.: [Company Identification No.]	U31401PN2008PLC132306
IEC No.:	Not Applicable (As informed by the management that firm does not have export and import)
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECB1382M
GSTIN/UIN :	27AAECB1382M1ZH
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing services for installation and erection of solar power plant and ground mounted solar plant. (Confirmed by management) Providing Distribution, Automation and Energy Efficiency Solutions. Real Estate Services. (Registered Activity)
No. of Employees :	20 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Recently resumed business Activity
Payment Behaviour :	Slow
Litigation :	Exist
Comments :	BVG Clean Energy Limited was incorporated in the year 2008. It is engaged in providing solar power plant and ground mounted solar plant services. Management has failed to file its financials with Registrar of Companies for the FY 2017. Mr. Kedar (Finance Manger) has claimed that the subject has received only 1 project for the FY 2016 and then there was no business activity conducted, In January, 2018 the company has again started their business activity. As per the available financial records of 2016, the revenue of the company has decreased by 64.28% and has incurred operational loss. The moderate financial profile of the company is reflected by negative networth base along with comfortable debt coverage indicators. Rating is constrained on account of absence of latest financials. Payments seems to be slow. In view of aforesaid, 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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 10.02.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY

Name :	Mr. Kedar Kulkarni
Designation :	Finance Manager
Contact No.:	91-20-27464220
Date :	08.02.2018

LOCATIONS

Registered Office / Corporate Office :	BVG House, Premier Plaza, Mumbai Pune Road, Chinchwad, Pune – 411019, Maharashtra, India
Tel. No.:	91-20-27464220
Mobile No.:	91-9822009325 (Mr. Hanmantrao Gaikwad) 91-7744081872 (Mr. Kedar Kulkarni)
Fax No.:	Not Available
E-Mail :	sanjeev.mahajan@bvgindia.com suresh.krishnan@bvgindia.com info@bvgcleanenergy.com cs@bvgindia.com
Website :	http://www.bvgcleanenergy.com
Location :	Owned
Locality :	Commercial

DIRECTORS

As on 31.03.2017

Name :

Mrs. Vaishali Hanmantrao Gaikwad

Designation :

Director

Address :

250, Kawade Nagar, New Sanghvi, Pune-411027, Maharashtra, India

Date of Birth/Age :

13.01.1975

Date of Appointment :

15.09.2011

DIN No.:

01597289

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U90001PN2005PLC020986	BVG CLEAN TECHNOLOGIES LIMITED	07/07/2005	-
U45200PN2008PLC132309	BVG INFRASTRUCTURE LIMITED	15/09/2011	-
U45200PN2008PLC131902	BVG REALTY LIMITED	15/09/2011	-
U85100PN2011PTC139592	BVG DOMESTIC SERVICES PRIVATE LIMITED	18/05/2011	-
U15490PN2014PLC151669	BVG LIFE SCIENCES LIMITED	03/07/2014	-
U74900PN2015PLC155462	LIVESTOCK AND CROP REGISTRY INDIA LIMITED	18/06/2015	-
U15490PN2012PTC142334	SATARA MEGA FOOD PARK PRIVATE LIMITED	22/02/2012	-
U74900PN2015NPL157482	BVG SKILL ACADEMY	09/12/2015	-
U74999PN2016PTC166520	KESHAYURVED HAIR AND SKIN CARE PRIVATE LIMITED	21/09/2016	-

Name :

Mr. Umesh Gautam Mane

Designation :

Director

Address :

55/1, Kawade Nagar, Devkar Road, New Sangvi Pune-411027, Maharashtra, India

Date of Birth/Age :

22.08.1970

Date of Appointment :

24.06.2008

DIN No.:

01597365

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U85100PN2016PTC158982	BVG-UKSAS EMS PRIVATE LIMITED	23/03/2016	-
U74900PN2015NPL157482	BVG SKILL ACADEMY	09/12/2015	-
U15490PN2012PTC142334	SATARA MEGA FOOD PARK PRIVATE LIMITED	22/02/2012	-
U74900PN2015PLC155462	LIVESTOCK AND CROP REGISTRY INDIA LIMITED	18/06/2015	-
U32204PN2015PTC154451	BVG ENERGY EFFICIENCY PRIVATE LIMITED	23/03/2015	-
U90009PN2011PTC141572	BVG KSHITIJ WASTE MANAGEMENT SERVICES PRIVATE LIMITED	09/12/2011	-
U15140PN2004PTC136409	PRIME OLEOCHEM PRIVATE LIMITED	30/09/2013	-
U15490PN2014PLC151669	BVG LIFE SCIENCES LIMITED	03/07/2014	-
U15490PN2013PTC148253	YUVAN LONG LIFE PRIVATE LIMITED	17/04/2015	-
U74900PN2013PTC147276	VIGHNAHAR PEST CONTROL PRIVATE LIMITED	07/05/2013	-
U45200PN2008PLC131902	BVG REALTY LIMITED	01/05/2008	-
U45200PN2008PLC132309	BVG INFRASTRUCTURE LIMITED	25/06/2008	-
U90001PN2005PLC020986	BVG CLEAN TECHNOLOGIES LIMITED	07/07/2005	-
U41000PN2002PTC016835	BVG JAL PRIVATE LIMITED	20/03/2002	-
U74999PN2002PLC016834	BVG INDIA LIMITED	02/04/2007	-

Name :

Mr. Hanmantrao Gaikwad

Designation :

Director

Address :

250, Kawade Nagar, New Sanghvi, Pune-411027, Maharashtra, India 

Date of Birth/Age :

21.10.1972

Date of Appointment :

24.06.2008

DIN No.:

01597742

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U85190MH2016PTC273547	ORA ASIA PHARMACEUTICALS PRIVATE LIMITED	26/02/2016	-
U74900PN2015NPL157482	BVG SKILL ACADEMY	09/12/2015	-
U15490PN2012PTC142334	SATARA MEGA FOOD PARK PRIVATE LIMITED	22/02/2012	-
U74999PN2002PLC016834	BVG INDIA LIMITED	20/03/2002	-
U74900PN2015PLC155462	LIVESTOCK AND CROP REGISTRY INDIA LIMITED	18/06/2015	-
U32204PN2015PTC154451	BVG ENERGY EFFICIENCY PRIVATE LIMITED	23/03/2015	-
U90009PN2011PTC141572	BVG KSHITIJ WASTE MANAGEMENT SERVICES PRIVATE LIMITED	09/12/2011	-
U15140PN2004PTC136409	PRIME OLEOCHEM PRIVATE LIMITED	30/09/2013	-
U15490PN2014PLC151669	BVG LIFE SCIENCES LIMITED	03/07/2014	-
U15490PN2013PTC148253	YUVAN LONG LIFE PRIVATE LIMITED	17/04/2015	-
U74900PN2013PTC147276	VIGHNAHAR PEST CONTROL PRIVATE LIMITED	07/05/2013	-
U41000PN2002PTC016835	BVG JAL PRIVATE LIMITED	20/03/2002	-
U85100PN2011PTC139592	BVG DOMESTIC SERVICES PRIVATE LIMITED	18/05/2011	-
U90001PN2005PLC020986	BVG CLEAN TECHNOLOGIES LIMITED	07/07/2005	-
U45200PN2008PLC131902	BVG REALTY LIMITED	01/05/2008	-
U45200PN2008PLC132309	BVG INFRASTRUCTURE LIMITED	25/06/2008	-

Name :

Mr. Dattatraya Ramdas Gaikwad

Designation :

Director

Address :

House No 250, Near Deokar Chawl Kawade Nagar, Navi Sangavi, Pune-411027, Maharashtra, India

Date of Birth/Age :

16.07.1976

Date of Appointment :

24.06.2008

DIN No.:

01710868

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45200PN2008PLC132309	BVG INFRASTRUCTURE LIMITED	25/06/2008	-
U45200PN2008PLC131902	BVG REALTY LIMITED	01/05/2008	-
U45209PN2007PTC130278	DRAVID REALTY PRIVATE LIMITED --	08/06/2007	-

KEY EXECUTIVES

Name :	Mr. Kedar Kulkarni
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2016

Names of Shareholders	No. of Shares	%age
Hanmantrao Gaikwad	10000	20.00
Umesh Gautam Mane	10000	20.00
Dattatraya Ramdas Gaikwad	6000	12.00
Mohini Umesh Mane	6000	12.00
Swapnali Dattatraya Gaikwad	6000	12.00
Vaishali Hanmantrao Gaikwad	6000	12.00
Vikram Bhikoba Wagh	6000	12.00
Total	50000	100.00

As on 03.08.2017

Names of Allottees	No. of Shares
Hanmantrao Gaikwad	950000
Total	950000

Equity Share Break up (Percentage of Total Equity)

As on 16.09.2016

Category	Percentage
Promoters (Individual/Hindu Undivided Family-Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

• Providing services for installation and erection of solar power plant and ground mounted solar plant.

(Confirmed by management)

• Providing Distribution, Automation and Energy Efficiency Solutions.

• Real Estate Services.

(Registered Activity)

Products/ Services :

Item Code No.	Product/ Services Description
99723100	Trade Services of vacant and subdivided land

NIC Code No.	Product/ Services Description
4290	Construction of Civil Engineering Projects

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Advance Payment and Others (RTGS)

Purchasing :

L/C

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

End Users

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

20 (Approximately)

Bankers :

Bank Name	ICICI Bank Limited
Branch	Chinchwad, Pune, Maharashtra, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Auditors :
Name :	S. Gautam and Associates Chartered Accountants
Address :	#25 'B' Wing (Rear), 1st Floor, Kamala Cross Road, Opposite PCMC Building, Pimpri, Pune-411017, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	ABLFS5656G
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary : (As on 31.03.2016)	BVG Energy Efficiency Private Limited (CIN No.: U32204PN2015PTC154451)
Other Related Party : (As on 31.03.2016)	BVG India Limited

CAPITAL STRUCTURE

After 16.09.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	INR 10/- each	INR 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	INR 10/- each	INR 10.000 Million

As on 16.09.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	INR 10/- each	INR 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	INR 10/- each	INR 0.500 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET - (STANDALONE)

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500	0.500
(b) Reserves & Surplus	(2.201)	(0.722)	(1.131)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	(1.701)	(0.222)	(0.631)
(3) Non-Current Liabilities
(a) Long-term borrowings	1.621	1.522	1.522
(b) Deferred tax liabilities (Net)	0.013	0.003	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1.634	1.525	1.522
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.506	0.036	0.026
(c) Other current liabilities	23.218	17.156	5.484
(d) Short-term provisions	0.080	0.477	0.033
Total Current Liabilities (4)	23.804	17.669	5.543
TOTAL	23.737	18.972	6.434
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.309	0.166	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	0.099	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	0.000
(e) Other Non-current assets	0.050	0.085	0.096
Total Non-Current Assets	0.458	0.251	0.096
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	20.120	17.872	2.395
(c) Trade receivables	2.600	0.000	0.000
(d) Cash and cash equivalents	0.437	0.078	0.000
(e) Short-term loans and advances	0.122	0.771	3.943
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	23.279	18.721	6.338
TOTAL	23.737	18.972	6.434

PROFIT & LOSS ACCOUNT - (STANDALONE)

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Income	2.600	7.280	0.000
	Other Income	0.206	0.014	0.000
	TOTAL	2.806	7.294	0.000
Less	EXPENSES
	Cost of Land for Development	1.779	3.471	(0.606)
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Employees benefits expense	0.132	0.638	0.455
	Other expenses	2.307	2.769	0.150
	TOTAL	4.218	6.878	(0.001)
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(1.412)	0.416	0.001
Less	FINANCIAL EXPENSES	0.010	0.002	0.001
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(1.412)	0.414	0.000
Less/ Add	DEPRECIATION/ AMORTISATION	0.047	0.002	0.000
	PROFIT/ (LOSS) BEFORE TAX	(1.469)	0.412	0.000
Less	TAX	0.010	0.004	0.000
	PROFIT/ (LOSS) AFTER TAX	(1.479)	0.408	0.000
	Earnings / (Loss) Per Share (INR)	(29.57)	8.17	0.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	0.559	0.248	(0.860)
Net cash flow from operating activity	0.559	0.248	(0.860)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	365.00	0.00	0.00
Account Receivables Turnover ( Income / Sundry Debtors)	1.00	0.00	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	103.82	3.79	(15.66)
Inventory Turnover (Operating Income / Inventories)	(0.07)	0.02	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	(4.57)	2.51	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	1.07	1.01	1.10
Debt Equity Ratio (Total Liability / Networth)	(0.95)	(6.86)	(2.41)
Current Liabilities to Networth (Current Liabilities / Net Worth)	(13.99)	(79.59)	(8.78)
Fixed Assets to Networth (Net Fixed Assets / Networth)	(0.18)	(0.75)	0.00
Interest Coverage Ratio (PBIT / Financial Charges)	(141.20)	208.00	1.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin [(PAT / Sales) * 100]	%	(56.88)	5.60	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	(6.23)	2.15	0.00
Return on Investment (ROI) ((PAT / Networth) * 100)	%	86.95	(183.78)	0.00

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	0.98	1.06	1.14
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.13	0.05	0.71
G-Score Ratio Financial (Networth / Total Assets)	(0.07)	(0.01)	(0.10)
G-Score Ratio Debt (Debts / Equity Capital)	3.24	3.04	3.04
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.98	1.06	1.14

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

ABRIDGED BALANCE SHEET – (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2016
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500
(b) Reserves & Surplus	(6.701)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Minority Interest	(0.044)
Total Shareholders’ Funds (1) + (2)	(6.245)
(3) Non-Current Liabilities
(a) long-term borrowings	2.921
(b) Deferred tax liabilities (Net)	0.013
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	2.934
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.506
(c) Other current liabilities	27.570
(d) Short-term provisions	0.391
Total Current Liabilities (4)	28.467
TOTAL	25.156
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.309
(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	0.000
(e) Other Non-current assets	0.075
Total Non-Current Assets	0.384
(2) Current assets
(a) Current investments	0.000
(b) Inventories	20.120
(c) Trade receivables	2.600
(d) Cash and cash equivalents	0.621
(e) Short-term loans and advances	1.431
(f) Other current assets	0.000
Total Current Assets	24.772
TOTAL	25.156

PROFIT & LOSS ACCOUNT - (CONSOLIDATED)

	PARTICULARS	31.03.2016
	SALES
	Income	2.600
	Other Income	0.206
	TOTAL	2.806
Less	EXPENSES
	Cost of Land for Development	1.779
	Purchases of Stock-in-Trade	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000
	Employees benefits expense	2.545
	Other expenses	4.438
	TOTAL	8.762
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(5.956)
Less	FINANCIAL EXPENSES	0.011
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(5.967)
Less/ Add	DEPRECIATION/ AMORTISATION	0.047
	PROFIT/ (LOSS) BEFORE TAX	(6.014)
Less	TAX	0.010
	PROFIT/ (LOSS) AFTER TAX	(6.024)
	MINORITY INTEREST	0.046
	LOSS AFTER TAXES, MINORITY INTEREST	(5.978)
	Earnings / (Loss) Per Share (INR)	(119.56)

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Share Capital	0.500	0.500	0.500
Reserves & Surplus	(1.131)	(0.722)	(2.201)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(0.631)	(0.222)	(1.701)
long-term borrowings	1.522	1.522	1.621
Short term borrowings	0.000	0.000	0.000
Total borrowings	1.522	1.522	1.621
Debt/Equity ratio	(2.412)	(6.856)	(0.953)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016
	INR In Million	INR In Million
Sales	7.280	2.600
		(64.286)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016
	INR In Million	INR In Million
Sales	7.280	2.600
Profit/ (Loss)	0.408	(1.479)
	5.60%	(56.88%)

LEGAL CASES

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

REVIEW OF BUSINESS OPERATIONS (As on 31.03.2016)

Details of business operations done during the year :

Production and Profitability:

During the year, the company has suffered a loss approximately of INR 1.478 Million as compared to a profit approximately of INR 0.410 Million in the previous year due to expense incurred on various activites for developing processes carrying on by the company.

Sales

The company is engaged during the year in development of solar park project in which the company is providing infrastructure facilities to its customers. During the year the company has received its revenue from sales of land which forms a part aforesaid, project.

Marketing and Market Environment:

The company is making efforts to generate new customers and penetrate into new markets.

FUTURE OUTLOOK:

The board is exploring the business opportunities and possibilities of increased revenue generation in the next financial year as compared to current financial year.

UNSECURED LOAN

PARTICULARS	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
Loans from Directors	1.621	1.522
Total	1.621	1.522

INDEX OF CHARGES

No Charges Exists for Company

FIXED ASSETS

• Plant and Machinery

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 records 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	INR
US Dollar	1	INR 64.36
UK Pound	1	INR 89.71
Euro	1	INR 78.89

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	VAR
Report Prepared by :	SUD

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	YES
--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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.