POWER FINANCE CORPORATION LTD.

ENTITY APPRAISAL - APPLICATION FORMAT (PART I)

A - INFORMATION TO LOAN APPLICANTS

What is Entity Appraisal?

Entity Appraisal covers appraisal of the promoters of a Power Project. Entity appraisal involves
assessment of the promoters’ capability to contribute equity funds for the project and carry the project
to completion. Entity Appraisal does not cover appraisal of the project per-se.

For example, if a project is set up by a company say SPV Ltd. who is the borrower and if the promoters /
shareholders of SPV Ltd. are XYZ Ltd. and LMN Ltd. proposing to contribute 50% of the equity each, the
Entity Appraisal by PFC would cover appraisal of the promoters viz. XYZ Ltd. and LMN Ltd and not the
project company namely SPV Ltd.

Who is considered a Promoter for Entity Appraisal?

Generally all parties contributing 10% or more of the proposed aggregate promoters' contribution in the
project company are considered individually as promoters of the project, and collectively as promoter
consortium or entity.

In case of projects promoted by corporate groups, group companies contributing equity to the project,
individually or on collective basis, would be considered as promoters and subjected to evaluation;
provided that the aggregate contribution of such group companies should be at least 10% of project
equity.

However, in cases where a company with existing operations is developing the project on its own
balance sheet, such company may also be subjected to Entity Appraisal as a promoter.

General
The appraisal of the loan would be based on the information provided herein. Further, information
provided herein and subsequent submissions/clarifications constitute a basis for eventual sanction of
PFC facility(ies). Information given should be correct, supportable with evidence and should not lead to
misrepresentation of facts.

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 1
 ea_102012
(All details submitted as part of the application form below form the basis of eventual sanction of any
financial support by PFC. Details to be signed on each page by the Authorised signatory. All amounts in
Rupees crores unless otherwise specified. Please do not change the paragraph numbering. Entity may be
required to submit additional details as may be sought from time to time)

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 2
 PART B - INFORMATION REQUIREMENTS FOR ENTITY APPRAISAL

1.0 INTRODUCTION
1.1 About project
(a) Name of the project company: Krishna Priya Power Private Limited
(b) Please attach copy of Memorandum and Articles of Association of the project company:
ATTACHED
(c) Description of the project: The project is a 4 MW hydro electric project located in the fore-
bay camp of the Lower Sileru Hydro Electric Project. The project is a low head project
proposed to be executed using a vertical Kaplan Turbine.
(d) Capacity of the project: 4 MW
(e) Project cost : Rs. 30.15 Crores
(f) Financing structure proposed:

Amount %age of project cost

Means of Finance:
Senior Debt 19.00 63.01%
Sub-debt 1.80 5.97%
Equity (Promoters' contribution) 9.35 31.02%
Total 100%

(g) Proposed commissioning schedule of the project (Month & year): 18 Months – July 2015
(h) Authorized person (with name and designation) of company (borrower and/or promoter)
authorized to deal with PFC. Please attach documents of authorization: Thilotham R Kolanu
(i) Contact details viz Telephone / Fax Nos., Email ID, Web site, etc.: T: 040 64584004, F: 040
23547590, Email: kolanu@gmail.com
(j) Registered Office and Corporate Office address: Plot No: 59, Amar Co-operative Housing
Society, Kavuri Hills Phase II, Madhapur, Hyderabad - 33

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 3
1.2 Proposed Overall Promoters' Contribution Plan
Amount Rs. in crores

Name of Nature of
Project Equity Share Capital (b) Aggregate Promoters' Contribution (b)
Promoter Promoter (a)
% (considering aggregate
% (considering
Amount Amount contribution including
face value)
share premium, if any)
Tesla Projects
Private Company 40% 1.00 40%
Limited
Cogent
Energy
Ventures Company 60% 5.00 60%
Private
Limited
Indwell
Constructions
Company 3.35
Private
Limited
Total 100% 100%

Promoters' funds proposed to be brought in (As on 10-11-2013 date)

Nature of instrument (equity share capital,

Name of Promoter Amount Rs. in crores preference shares, application money,
etc.)
TESLA PROJECTS PRIVATE
1.00 Equity Share Capital
LIMITED
COGENT ENERGY VENTURES
5.00 Equity Share Capital
PRIVATE LIMITED
INDWELL CONSTRUCTIONS
3.35 Equity Share Capital
PRIVATE LIMITED
Total

Notes:

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 4
 a) Nature of promoter: Specify whether the respective Promoter is a company, corporate group,
state / central government, public sector undertaking, bank, financial institution, infrastructure
finance company, private equity / venture capital fund, infrastructure fund, NBFC, individual or
other.

b) Wherever project equity is proposed to be contributed by way of convertible / redeemable

instruments / unsecured loan from promoter or by way of any other instrument, the same may
also be detailed in the above table. An explanatory Note may also be provided on promoters'
contribution other than by way of equity share capital. Further, salient features of such
instruments relating to redemption, conversion into equity shares, coupon rate, etc. may be
provided.

c) Where the promoter entity identified in the above Table is a shell company or an investment
company planning to mobilize/channelize its share of contribution from other entities, names of
such other entities may also be suitably stated. Promoters details required at 2, 3, 4, 5, and 6
(subsequent Sections) would also be required in respect of such other entities.

1.3 Management details of the Project Company (borrower)

a) Board of Directors of the Project Company (borrower)
Designation
(promoters/ family
Ag Qualification and details of
Name Nationality member/ functional/
e Experience
nominee/ professional/
independent)
Sridevi 42 Indian Professional LLB
Kolanu
Pradeep 32 Indian Professional MBA (Indian School of
Machineni Business) – Finance Expert
– Has over a decade of
experience in project
management and sales
Thilotham R 45 Indian Professional Ph.D – Environmental
Kolanu Sciences – Has over two
decades of experience in
the renewable energy and
environmental services
sector.

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 5
 b) Key Managerial Personnel of the Project Company (borrower)
Ag Qualification and details of
Name Nationality Designation
e Experience
Thilotham R 45 India CEO Ph.D – Environmental
Kolanu Sciences – Has over two
decades of experience in
the renewable energy and
environmental services
sector.
Pradeep 32 Indian CFO MBA (Indian School of
Machineni Business) – Finance Expert –
Has over a decade of
experience in project
management and sales
…..

1.4 Names of the promoters proposing to undertake financing of project cost over-run, if any, by way
of promoters' contribution - NA

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 6
1.5 Chart showing inter-se relationship, if any, between Project Company and promoter companies,
including percentage of ownership.

TESLA PROJECTS PRIVATE LIMITED

PROMOTERS: PRADEEP MACHINENI
(50%), THILOTHAM R KOLANU (50%) 11.11%

COGENT ENERGY VENTURES PRIVATE

LIMITED, PROMOTERS: PRADEEP KRISHNA PRIYA PROJECTS
MACHINENI (50%), THILOTHAM R 55.55 % PRIVATE LIMITED
KOLANU (50%)

INDWELL CONSTRUCTIONS PRIVATE

LIMITED, PROMOTER WITH COMMON
33.33 %
INTEREST WITH KPPL: K Y
CHAKRAVARTHY

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 7
1.6 Note on existing business operations, if any, along with copy of annual accounts for last three
years.
Krishna Priya Power Private Limited does not have any operations except for the proposed
project.

1.7 Details in respect of Promoters identified in Table 1.2 earlier to be furnished as under:
a) In respect of entities other than state/central government, bank, financial institution,
infrastructure finance company, private equity / venture capital fund, infrastructure fund,
NBFC, individual: As per Section 2.0;
b) In respect of entities identified as bank, financial institution, infrastructure finance company and
NBFC: As per Section 3.0;
c) In respect of entities identified as Individuals: As per Section 4.0;
d) In respect of those not covered in Section 2, 3 and 4 above but appearing Table 1.2 above: As
per Section 5.0 (to be submitted separately for each such promoter)
e) Details required under Section 6 -QUALITATIVE INPUTS: To be submitted for Group entities of
promoters who would be responsible for implementation and operation of the project.

1.8 List of documents to be submitted:

i. Memorandum and Articles of Association;
ii. Documents for Authorized signatory (refer 1.1.h above)
iii. Copies of complete Annual Reports of the company for last 3 years containing accounts
along with notes to accounts, auditors’ report, directors’ report;
iv. Copy of any agreement, if already in place, regarding equity infusion arrangements
amongst promoters or other entities.

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 8
2.0 PROMOTER DETAILS – Cogent Energy Ventures Private Limited
Companies (to be submitted separately for each promoter entity identified in Table 1.2, except
for state/central government, bank, financial institution, infrastructure finance company, private
equity / venture capital fund, infrastructure fund, NBFC, individual or other)
All details in Section 2.0 are to be in respect of entity named at 2.1 below except for details at 2.14, 2.15.
2.16 and 2.17, where information may be given about the promoter group.
2.1 Name of the Equity contributor: Cogent Energy Ventures Private Limited

2.2 Specify whether a domestic company or a foreign company: Domestic Company

2.3 Authorized signatory of company (with name and designation) authorized to deal with PFC:
Thilotham R Kolanu, Director

2.4 Contact details viz Telephone / Fax Nos., Email ID, Web site, etc. : Tel: +91 9849599282 E-mail:
admin@cogentenergy.in

2.5 Registered Office and Corporate Office address: 8-2-601/A/13, Road No 10, Banjara Hills,
Hyderabad - 34

2.6 Management Details of the Company:

a) Board of Directors
Designation
(promoters/ family
Ag Qualification and details of
Name Nationality member/ functional/
e Experience
nominee/ professional/
independent)
Thilotham R 45 Indian Promoter Director Ph.D – Environmental
Kolanu Sciences – Has over two
decades of experience in
the renewable energy and
environmental services
sector
Sheetal 32 Indian Promoter Director MBA from Indian School of
Reddy Business. Has over a decade
of experience in the
renewable energy sector

b) Key Managerial Personnel

Ag Qualification and details of
Name Nationality Designation
e Experience
Thilotham R 45 Indian CEO Same as above
Kolanu
Sunil Chelluri 29 Indian CFO Post Graduate in
Management from IIT

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 9
 Ag Qualification and details of
Name Nationality Designation
e Experience
Bombay with five years of
experience in financial
services and renewable
energy

2.7 Listing status of the company: unlisted

2.8 Shareholding Pattern (As on 4th October, 2013): Certificate

Is attached
2.9 Division wise / Segment wise turnover of company for the last year for which audited accounts are
available: financial statements attached

2.10 Financial particulars as per audited annual accounts for the last three years and projections in the
format below:
{Year 0 is the last year for which audited annual accounts are available. Year-1 is the year
previous to Year 0. Projections are to be given upto the year in which project is scheduled to
achieve CoD (please refer 1.1.g. earlier) or for at least two financial years, whichever is longer
after Year 0. Year +1 is the year succeeding Year 0}.

Year Year Year Year Year Year Year Year

-3 -2 -1 0 +1 +2 +3 +..
Profit & Loss Account-extracts
Operating Income
Non – operating and other Income
Interest on long term loans
Interest on short term loans and other
finance charges
Depreciation
Tax
PAT
Dividend- Equity/Preference
Balance Sheet-extracts
Cash and Bank Balances
Other Current Assets
Net Fixed Assets
Capital Work in Progress
Equity Share Capital
Reserves and surpluses
Revaluation Reserves
Intangible assets

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 10
 Year Year Year Year Year Year Year Year
-3 -2 -1 0 +1 +2 +3 +..
Loss Brought Forward
Long term loans
WC loans from Banks and other short
term loans
Other current liabilities and provisions
Repayment due on Long Term loans
Marketable securities
Other Investments
(Future projections not required for foreign companies.)

2.11 Note on business activities/operations of the company: Cogent Energy Ventures Private Limited
(CEVPL) is a private limited company incorporated with an aim to be a leading power project
development company in the state of Andhra Pradesh. The firm has strong financial and
managerial capability and has been evaluating opportunities to set up renewable energy based
power projects. The current 4 MW project will be the first project to be owned by CEVPL

2.12 Phasing and means of equity infusion

Already brought in Year Year Year Year
upto end of Year 0 +1 +2 +3 +..
Equity commitment for the project
Means:
Internal Accruals 1.2 Crores
Existing resources
Issue of share capital to:
 Promoters 3.0 Cr 1.2 Cr
 IPO/FPO
 Others institutions
Borrowings
Others…

2.13 Note on equity infusion plans covering means of equity such as fresh capital infusions, existing
resources, internal accruals, etc.
The equity infusion for the project is done through the internal accruals of the company and the
rest of the equity will be brought in through promoters’ infusion of equity

2.14 Note on existing business operations, if any

2.15 Note on industry of operation including sectoral/industrial outlook (not required for foreign
companies)

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 11
India as a country and Andhra Pradesh as a state have always been power deficit with peak demand
supply gap in double digit percentage points. In order to address these gaps, there have been many
policy measures to increase the power generation capabilities of the both government owned
generation companies and Independent Power Producers (IPPs). Apart from increasing generation
through fossil fuel based generation techniques, there has been intense focus on clean energy sources.
As a part of this the Government of India has initiated different programs and incentives for the
encouragement of renewable energy projects.
Given the focus on developing renewable energy sources and ever increasing demand for power, the
industry is destined to grow rapidly over the next decade. The demand supply gap along with a
consistently growing economy and improved rural electrification, the demand for sustained electricity
supply will only increase and its rate of growth will outstrip the rate at which the economy is growing.

2.16 Details of credit rating if any obtained from external credit rating agencies. Also provide details of
awards / certification including ISO certification: NA

2.17 Experience in operating/managing power plants: NA

Captive/ IPP Location Fuel used Operational since

Size-MW

2.18 Dealings if any with PFC: NA

Loan nos. Amount Sanctioned Remarks

2.19 Details of funds raised in various markets (equity / quasi equity / debt) by the company and also
by the entire promoter group over the last 10 years: NA
Month &
Nature of instrument Raised from End Use
year

(more rows may be added, if required)

2.20 Details of all projects already developed / promoted by the company and also by the entire
promoter group over the last 10 years:
Project Year of Project Cost / Current
Name Nature Cost Completion Time Overrun, Status of the
if any Project

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 12
2.21 Details of other projects presently under development by the company in India and abroad.

2.22 With respect to Promoter entity(ies) who are Foreign companies, following additional details may
be submitted:
i. Details of ratings obtained from International Credit Rating Agencies
ii. Write up on past track record of investment in India and other emerging countries.

2.23 Details of current over dues, if any, to any bank/FI.

2.24 Note on Track record with lenders during last 3 years inter-alia covering recovery proceedings,
CDR package, restructuring, rescheduling, etc.

2.25 List of documents to be submitted:

v. Memorandum and Articles of Association;
vi. Copy of Resolution passed by the Company’s Board approving equity investment in the
proposed project;
vii. Documents for Authorized signatory (refer 2.3 above)
viii. Copies of complete Annual Reports of the company for last 4 years containing accounts
along with notes to accounts, auditors’ report, directors’ report;
ix. Financial projections (P&L, Balance Sheet and Cash Flow) along with assumption sheet
including in electronic form covering period as per 2.10 above;
x. Certificate from the Statutory auditors for:
a. Calculation showing DSCR as per latest audited accounts
b. No Current default status of the company;
xi. Letter of Authorization (format given in Annexure below) from the promoter company,
addressed to their Banks/FIs authorizing PFC to seek credit opinion from them. List of all
Banks/FIs with whom the company is presently having dealings/accounts may be attached
with the letter.

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 13
3.0 PROMOTER DETAILS – Companies (to be submitted separately for each promoter entity
identified in Table 1.2, except for state/central government, bank, financial institution,
infrastructure finance company, private equity / venture capital fund, infrastructure fund, NBFC,
individual or other)
All details in Section 2.0 are to be in respect of entity named at 2.1 below except for details at 2.14, 2.15.
2.16 and 2.17, where information may be given about the promoter group.
3.1 Name of the Equity contributor: Tesla Projects Private Limited

3.2 Specify whether a domestic company or a foreign company: Domestic Companies

3.3 Authorized signatory of company (with name and designation) authorized to deal with PFC

3.4 Contact details viz Telephone / Fax Nos., Email ID, Web site, etc.

3.5 Registered Office and Corporate Office address

3.6 Management Details of the Company:

c) Board of Directors
Designation
(promoters/ family
Ag Qualification and details of
Name Nationality member/ functional/
e Experience
nominee/ professional/
independent)

d) Key Managerial Personnel

Ag Qualification and details of
Name Nationality Designation
e Experience

3.7 Listing status of the company

3.8 Shareholding Pattern (As on …)

3.9 Division wise / Segment wise turnover of company for the last year for which audited accounts are
available.

3.10 Financial particulars as per audited annual accounts for the last three years and projections in the
format below:

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 14
 {Year 0 is the last year for which audited annual accounts are available. Year-1 is the year
previous to Year 0. Projections are to be given upto the year in which project is scheduled to
achieve CoD (please refer 1.1.g. earlier) or for at least two financial years, whichever is longer
after Year 0. Year +1 is the year succeeding Year 0}.

Year Year Year Year Year Year Year Year

-3 -2 -1 0 +1 +2 +3 +..
Profit & Loss Account-extracts
Operating Income
Non – operating and other Income
Interest on long term loans
Interest on short term loans and other
finance charges
Depreciation
Tax
PAT
Dividend- Equity/Preference
Balance Sheet-extracts
Cash and Bank Balances
Other Current Assets
Net Fixed Assets
Capital Work in Progress
Equity Share Capital
Reserves and surpluses
Revaluation Reserves
Intangible assets
Loss Brought Forward
Long term loans
WC loans from Banks and other short
term loans
Other current liabilities and provisions
Repayment due on Long Term loans
Marketable securities
Other Investments
(Future projections not required for foreign companies.)

3.11 Note on business activities/operations of the company

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 15
3.12 Phasing and means of equity infusion
Already brought in Year Year Year Year
upto end of Year 0 +1 +2 +3 +..
Equity commitment for the project
Means:
Internal Accruals
Existing resources
Issue of share capital to:
 Promoters
 IPO/FPO
 Others institutions
Borrowings
Others…

3.13 Note on equity infusion plans covering means of equity such as fresh capital infusions, existing
resources, internal accruals, etc.

3.14 Note on existing business operations, if any

3.15 Note on industry of operation including sectoral/industrial outlook (not required for foreign
companies)

3.16 Details of credit rating if any obtained from external credit rating agencies. Also provide details of
awards / certification including ISO certification

3.17 Experience in operating/managing power plants

Captive/ IPP Location Fuel used Operational since

Size-MW

3.18 Dealings if any with PFC

Loan nos. Amount Sanctioned Remarks
…

….

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 16
3.19 Details of funds raised in various markets (equity / quasi equity / debt) by the company and also
by the entire promoter group over the last 10 years
Month &
Nature of instrument Raised from End Use
year

(more rows may be added, if required)

3.20 Details of all projects already developed / promoted by the company and also by the entire
promoter group over the last 10 years
Project Year of Project Cost / Current
Name Nature Cost Completion Time Overrun, Status of the
if any Project

3.21 Details of other projects presently under development by the company in India and abroad.

3.22 With respect to Promoter entity(ies) who are Foreign companies, following additional details may
be submitted:
iii. Details of ratings obtained from International Credit Rating Agencies
iv. Write up on past track record of investment in India and other emerging countries.

3.23 Details of current over dues, if any, to any bank/FI.

3.24 Note on Track record with lenders during last 3 years inter-alia covering recovery proceedings,
CDR package, restructuring, rescheduling, etc.

3.25 List of documents to be submitted:

xii. Memorandum and Articles of Association;
xiii. Copy of Resolution passed by the Company’s Board approving equity investment in the
proposed project;
xiv. Documents for Authorized signatory (refer 2.3 above)
xv. Copies of complete Annual Reports of the company for last 4 years containing accounts
along with notes to accounts, auditors’ report, directors’ report;
xvi. Financial projections (P&L, Balance Sheet and Cash Flow) along with assumption sheet
including in electronic form covering period as per 2.10 above;
xvii. Certificate from the Statutory auditors for:
c. Calculation showing DSCR as per latest audited accounts
d. No Current default status of the company;

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 17
 xviii. Letter of Authorization (format given in Annexure below) from the promoter company,
addressed to their Banks/FIs authorizing PFC to seek credit opinion from them. List of all
Banks/FIs with whom the company is presently having dealings/accounts may be attached
with the letter.

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 18
4.0 PROMOTER DETAILS – Companies (to be submitted separately for each promoter entity
identified in Table 1.2, except for state/central government, bank, financial institution,
infrastructure finance company, private equity / venture capital fund, infrastructure fund, NBFC,
individual or other)
All details in Section 2.0 are to be in respect of entity named at 2.1 below except for details at 2.14, 2.15.
2.16 and 2.17, where information may be given about the promoter group.
4.1 Name of the Equity contributor: Indwell Constructions pvt Ltd

4.2 Specify whether a domestic company or a foreign company: Domestic Companies

4.3 Authorized signatory of company (with name and designation) authorized to deal with PFC

4.4 Contact details viz Telephone / Fax Nos., Email ID, Web site, etc.

4.5 Registered Office and Corporate Office address

4.6 Management Details of the Company:

e) Board of Directors
Designation
(promoters/ family
Ag Qualification and details of
Name Nationality member/ functional/
e Experience
nominee/ professional/
independent)

f) Key Managerial Personnel

Ag Qualification and details of
Name Nationality Designation
e Experience

4.7 Listing status of the company

4.8 Shareholding Pattern (As on …)

4.9 Division wise / Segment wise turnover of company for the last year for which audited accounts are
available.

4.10 Financial particulars as per audited annual accounts for the last three years and projections in the
format below:

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 19
 {Year 0 is the last year for which audited annual accounts are available. Year-1 is the year
previous to Year 0. Projections are to be given upto the year in which project is scheduled to
achieve CoD (please refer 1.1.g. earlier) or for at least two financial years, whichever is longer
after Year 0. Year +1 is the year succeeding Year 0}.

Year Year Year Year Year Year Year Year

-3 -2 -1 0 +1 +2 +3 +..
Profit & Loss Account-extracts
Operating Income
Non – operating and other Income
Interest on long term loans
Interest on short term loans and other
finance charges
Depreciation
Tax
PAT
Dividend- Equity/Preference
Balance Sheet-extracts
Cash and Bank Balances
Other Current Assets
Net Fixed Assets
Capital Work in Progress
Equity Share Capital
Reserves and surpluses
Revaluation Reserves
Intangible assets
Loss Brought Forward
Long term loans
WC loans from Banks and other short
term loans
Other current liabilities and provisions
Repayment due on Long Term loans
Marketable securities
Other Investments
(Future projections not required for foreign companies.)

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 20
4.11 Note on business activities/operations of the company

4.12 Phasing and means of equity infusion

Already brought in Year Year Year Year
upto end of Year 0 +1 +2 +3 +..
Equity commitment for the project
Means:
Internal Accruals
Existing resources
Issue of share capital to:
 Promoters
 IPO/FPO
 Others institutions
Borrowings
Others…

4.13 Note on equity infusion plans covering means of equity such as fresh capital infusions, existing
resources, internal accruals, etc.

4.14 Note on existing business operations, if any

4.15 Note on industry of operation including sectoral/industrial outlook (not required for foreign
companies)

4.16 Details of credit rating if any obtained from external credit rating agencies. Also provide details of
awards / certification including ISO certification

4.17 Experience in operating/managing power plants

Captive/ IPP Location Fuel used Operational since

Size-MW

4.18 Dealings if any with PFC

Loan nos. Amount Sanctioned Remarks
…

….

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 21
4.19 Details of funds raised in various markets (equity / quasi equity / debt) by the company and also
by the entire promoter group over the last 10 years
Month &
Nature of instrument Raised from End Use
year

(more rows may be added, if required)

4.20 Details of all projects already developed / promoted by the company and also by the entire
promoter group over the last 10 years
Project Year of Project Cost / Current
Name Nature Cost Completion Time Overrun, Status of the
if any Project

4.21 Details of other projects presently under development by the company in India and abroad.

4.22 With respect to Promoter entity(ies) who are Foreign companies, following additional details may
be submitted:
v. Details of ratings obtained from International Credit Rating Agencies
vi. Write up on past track record of investment in India and other emerging countries.

4.23 Details of current over dues, if any, to any bank/FI.

4.24 Note on Track record with lenders during last 3 years inter-alia covering recovery proceedings,
CDR package, restructuring, rescheduling, etc.

4.25 List of documents to be submitted:

xix. Memorandum and Articles of Association;
xx. Copy of Resolution passed by the Company’s Board approving equity investment in the
proposed project;
xxi. Documents for Authorized signatory (refer 2.3 above)
xxii. Copies of complete Annual Reports of the company for last 4 years containing accounts
along with notes to accounts, auditors’ report, directors’ report;
xxiii. Financial projections (P&L, Balance Sheet and Cash Flow) along with assumption sheet
including in electronic form covering period as per 2.10 above;
xxiv. Certificate from the Statutory auditors for:
e. Calculation showing DSCR as per latest audited accounts

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 22
 f. No Current default status of the company;
xxv. Letter of Authorization (format given in Annexure below) from the promoter company,
addressed to their Banks/FIs authorizing PFC to seek credit opinion from them. List of all
Banks/FIs with whom the company is presently having dealings/accounts may be attached
with the letter.
5.0

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 23
6.0 PROMOTER DETAILS – Individuals (to be submitted separately for each promoter, in Table 1.2
earlier, as individual)

6.1 Name of the Individual promoter

6.2 Relationship of the above promoter:
i. With other individual promoters, if any;
ii. With other corporate promoters, if any.

6.3 Whether Indian /Foreign National (please give name of the country)/NRI

6.4 Note on how the proposed equity contribution (means of equity) in the project would be met. In
case the equity contribution is to be met by way of selling real estate including agricultural land,
shares in group companies, etc., the Note may also elaborate on the proposed plan to mobilize
required funds.

6.5 Note on existing business operations, if any

6.6 Note on promoters’ qualifications/experience in managing/operating businesses

6.7 Details of guarantees given / committed.

6.8 Details of current over dues, if any, to any bank/FI.

6.9 Note on track record with lenders during last 3 years inter-alia covering recovery proceedings, CDR
package, restructuring, rescheduling, etc.

6.10 List of documents to be submitted:

iii. Latest net worth statement duly certified by a chartered accountant.
iv. Copies of Income Tax / Wealth Tax Returns filed in the last three years
v. Copies of the latest income tax assessment order.

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 24
7.0 PROMOTER DETAILS – in respect of those not covered in Section 2, 3 and 4 above but appearing
Table 1.2 above (to be submitted separately for each such promoter)
7.1 Name of the Promoter
7.2 In case of Governments:
i. Documents emanating from Government supporting equity commitment for the project and
ii. Note on nature of equity support (cash or kind), arrangements for phasing of equity

7.3 In case of Private Equity / Venture Capital / Infrastructure Funds:

i. Name of the fund, registered office address, website address.
ii. Size / Corpus of the fund or scheme making the investment
iii. Note on equity subscription pattern and arrangements for phasing of equity
iv. Whether term-sheet already signed. If yes, please submit a copy of the same. If no, please
elaborate.
v. Whether term-sheet/other agreement provide for any buy-back/assured return obligations on
the company implementing the project. If so, please elaborate.
vi. Detailed note on Fund inter-alia covering Management, Board of Trustees, Investment
Committee, Sectoral Exposures, Country exposures, key managerial personnel, etc. as may be
applicable.
vii. Registration status with Regulatory bodies in India (viz. RBI, SEBI, etc.) or abroad (specify).
viii. Copy of constitution documents (e.g. Memorandum and Articles of Association).
ix. Copy of annual accounts.
x. Note on applicable regulatory framework.

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 25
8.0 QUALITATIVE INPUTS (to be submitted for Group entities of promoters who would be responsible
for implementation and operation of the project)

6.1 Any independent process / quality certifications obtained by the promoters

6.2 Details of other expansion / diversification plans being pursued by the promoters (including
sector, project size, funds required)

6.3 Details of promoters’ prior experience in power generation, transmission, distribution or providing
EPC services or manufacturing equipment for power projects

6.4 Details of infrastructure, industrial or other projects developed / executed by the promoters in the
past 10 years

6.5 Details of any infrastructure, industrial or other projects being managed / operated by the
promoters currently

6.6 List of businesses set-up / managed by the promoters in India / other developing countries

6.7 Details of key regulatory approvals obtained by the promoters in the recent past

6.8 Promoters' experience in land acquisition activities in the recent past

6.9 Promoters' experience in obtaining environmental clearances, if any, in the recent past.

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 26
Annexure – A to Part I

Letter of Authorisation to Banks/FIs

Date : _______________

The Manager,

_______________________

_______________________

_______________________

_______________________

(List of Name and address of the Banks/FIs to be inserted here)

Dear Sir,

We hereby authorize you to discuss with M/s Power Finance Corporation Limited, to which
we are making an application for financial assistance, our affairs or any matter relating thereto, and
to disclose such information as M/s Power Finance Corporation Limited may request you or as you
may consider fit to disclose.

Yours faithfully,

( )

Authorised Signatory

PFC Application Form – Entity Appraisal – Private Sector Proposals (January 27, 2025) 27