­Novus Green Energy Systems Limited (NGESL) was incorporated in the year 2009 and is based in Hyderabad, Telangana. The company is promoted by the experienced Mr. Anushman Yenigalla, Mr. Venkata Ravindra Yenigalla, and Mrs. Pariplavi Mokkapati. It is mainly engaged in the installation of solar water pumps and solar power plants (both rooftop and ground mount). Novus Green has solar photovoltaic module manufacturing line with a production capacity of 300MW per annum. The factory is capable of manufacturing poly crystalline, mono crystalline, half-cell and glass-glass modules. The company is a  turnkey solution provider of photovoltaic systems in the rural and urban regions, providing solar energy solutions to the commercial, industrial and public sector for new build, refurbishment projects and for the existing buildings. 

­­Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer / borrower failed to submit such information before the due date. Acuité believes that information risk is a critical component in such ratings, and noncooperation by the issuer along with an unwillingness to provide information could be a sign of potential deterioration in its overall credit quality. This rating is therefore being flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.

­The rating is based on information available from sources other than the issuer / borrower (in the absence of information provided by the issuer / borrower). Acuité endeavored to gather information about the entity / industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based

­"No information provided by the issuer / available for Acuite to comment upon."

­"No information provided by the issuer / available for Acuite to comment upon.

­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in