Oriana Power Limited — KYC and integrity dossier

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Scope and limitations

Purpose. Establish the identity, ownership and control of the entity, and set out what the public record says about its conduct.

Limitations of this dossier

Public sources only. No MCA pull, no consent-based data, no paid register access.
No sanctions or watchlist screening has been run; a sanctions position must not be inferred from this document.
No adverse-media search has been run.
Ultimate beneficial ownership beyond the named promoter group cannot be established from exchange filings.
Credit assessment, covenants and facility sizing are in the separate credit report and are not repeated here.

A check that did not run is named as such throughout. Nothing in this document should be read as a clean result for a check it does not say was performed.

Conclusion

What this dossier establishes

The entity is named identically across every source used. The promoter group holds 57.98% and control is not in question. Promoter shares are encumbered on the exchange record. 2 of 5 conduct checks that could be run returned an adverse finding. 1 ownership figure disagrees between the exchange filing and the annual report, and is published unreconciled. 4 contactability discrepancies were found across the addresses and numbers the sources publish. 1 check could not be run from public sources at all.

Identity and control are settled here. Conduct is settled only as far as the public record reaches, and this document names every point at which it stops.

Who this is

Identity

Item	As published
Legal name	ORIANA POWER LIMITED
Industry	Energy
Sub-industry	Renewable Energy Solutions (Solar, BESS, Green Hydrogen, E-Fuels, CBG)
Exchange	NSE
Ticker	ORIANA
Shareholding filing	31-MAR-2026
Filings on record	3

Exchange listing and disclosure records, and the annual report's own cover. Verified against the shareholding pattern filing for the period 31-MAR-2026.

Name agreement. Every source names the entity identically once suffix conventions are normalised.

Identifier disagreement

Corporate Identification Number — source	As published
Tofler	L35101DL2013PLC248685
Zauba-Corp	L35990DL2013PLC248685, U35990DL2013PTC248685

Two aggregators publish different CINs for this entity. The registration number and RoC are identical; the industry code within the CIN differs. Published unreconciled — the registered CIN should be confirmed against the MCA record before contracting, and neither aggregator is authoritative.

Oriana Power Limited is an integrated clean energy solutions provider specializing in solar, battery energy storage systems (BESS), green hydrogen, and e-fuels. The company delivers end-to-end decarbonisation solutions for industrial, commercial, and utility customers, leveraging strong execution capabilities and a diversified portfolio across the renewable energy value chain. It operates under both OPEX and CAPEX models, with a focus on project-based SPVs for OPEX to manage risks and facilitate financing.

Not established from public sources

CIN and date of incorporation (MCA)
Registered office address as filed (MCA)
Index of charges — who already holds security (MCA)
Directors' DINs and their other directorships (MCA)
GSTIN footprint by state (GST, consent-based)

An MCA pull settles CIN, incorporation, registered address and the charge index in one call, and the charge index is the one that changes a lending decision: it names who is already secured against these assets.

Who holds it

Ownership and control

Promoter group holds 57.98% as at 31-MAR-2026, across 52 named holders. The top five holders together hold 61.5%.

Holder	Holding	Category
Parveen Kumar	19.33%	promoter individual
Anirudh Saraswat	19.32%	promoter individual
Rupal Gupta	19.32%	promoter individual
ANIL KUMAR GOEL	1.99%	DetailsOfSharesHeldByResidentIndividualShareholdersHoldingNominalShareCapitalInExcessOfRsTwoLakh
NEERAJ VISHNUKUMAR GUPTA	1.54%	DetailsOfSharesHeldByResidentIndividualShareholdersHoldingNominalShareCapitalInExcessOfRsTwoLakh
POOJA KEDIA	1.3%	DetailsOfSharesHeldByResidentIndividualShareholdersHoldingNominalShareCapitalInExcessOfRsTwoLakh
Arpita Gupta	0.01%	promoter individual
Munna Lal	0.0%	promoter individual

Shareholding pattern filed with the exchange for 31-MAR-2026, read against the annual report's own disclosure. Neither is corrected into the other.

Where the sources disagree

Two records describe ownership and they are prepared for different regulators on different dates. Where they disagree, the disagreement is published rather than resolved by picking one.

Item	Exchange filing	Annual report	Status
Promoter holding	57.98	57.97	Agrees
FII holding	0.32	—	One source onlyOnly one of the two sources states this, so there is nothing to reconcile — but nothing corroborates it either.
DII holding	0.32	—	One source onlyOnly one of the two sources states this, so there is nothing to reconcile — but nothing corroborates it either.
Promoter shares encumbered	yes	not disclosed	DISAGREEThe exchange filing records an encumbrance and the annual report does not quantify one. Encumbrance is disclosed to the exchange under a separate regulation, so this is common — and it means the pledge position cannot be sized from the annual report alone.

Encumbrance — resolved

The encumbrance recorded on the exchange filing is a Non-Disposal Undertaking, not a pledge. Promoters Rupal Gupta, Parveen Kumar and Anirudh Saraswat created an NDU over 52.82 lakh equity shares, 26% of paid-up capital, in two tranches on 19 and 22 June 2026. Reported as no new encumbrances in FY26.

This resolves the encumbrance disagreement: the exchange record reflects a non-disposal undertaking rather than a pledge, which is why the annual report quantifies no pledged percentage. A non-disposal undertaking restricts sale; it does not place the shares with a lender.

Was our fetch right? The figures published here are our own read of the exchange filing. They were checked for this period against an independent standardised record of the same filing, and agree with it.

Beneficial ownership. Significant Beneficial Owner declarations are filed where an individual controls 10% or more through a chain of entities. None is on record for this issuer, which is consistent with direct individual holding rather than with an absence of control.

An MCA pull gives the chain above the named holders — which corporate bodies sit behind them and who controls those — and the register dates every transfer. Public filings give the percentage, not the chain.

Where and how to reach it

Offices and contactability

Addresses and contact points as each source publishes them, gathered from the executed source register. Contactability is a credit question: a borrower that cannot be reached at a stated address is a collection problem before it is a credit problem.

Registered identifiers

Identifier	As published
Gstin	07AABCO7980R1ZJ
Gstin State	07 — Delhi
Gstin Registered	01-07-2017
Pan Embedded	AABCO7980R
Iec	0514016752

GSTIN and IEC are published by the company on its own IndiaMART supplier profile. The PAN is the embedded characters 3-12 of the GSTIN. Neither has been verified against the issuing authority.

Addresses on record

Role	Address	Source
Registered office	Flat No. 412A, Building No. 43, Chiranjiv Tower, Nehru Place, South Delhi, Delhi 110019	Company filings and own website ↗ View
Corporate office	3rd Floor, Plot No. 19 & 20, JASK Towers, Sector 125, Noida, Gautam Buddha Nagar, Uttar Pradesh 201313	Company filings and own website ↗ View
Address on LinkedIn	C-103, First Floor, Sector 2, Noida, Gautam Buddha Nagar, Uttar Pradesh	LinkedIn company page ↗ View
Address on IndiaMART	C-66, Sector 2, Noida, Gautam Buddha Nagar, Uttar Pradesh 201301	IndiaMART supplier profile ↗ View

Contact points

Type	As published	Source
Telephone	+91 120 422 9198	Company filings
Telephone	+91 120 411 4695	Company website
Mobile	+91 74288 00974	Company website
Email	compliance@orianapower.com	Company filings
Website	orianapower.com	Company website

What the addresses show

Four different addresses are published across sources. Two are official and consistent (registered office in Delhi, corporate office at Sector 125 Noida). The other two are Sector 2 Noida addresses on LinkedIn and IndiaMART that match neither, and appear to be earlier premises left un-updated on third-party profiles.
Two different landline numbers are published for the same corporate office — one in the filings, one on the company's own website.
The website and every third-party profile brand the company TrueRE, not Oriana Power. A counterparty searching the legal name will not land on the brand it answers to.
The GSTIN state code is 07, Delhi, matching the registered office rather than the Noida corporate office where the business is run.

Spot check — not performed. No physical or street-level verification has been performed. A map lookup confirms the addresses resolve to real commercial buildings, but that is not a site visit and does not establish occupancy.

↗ Registered office on Maps ↗ Corporate office on Maps

GST consent gives the registered GSTIN footprint by state and the filing history at each, which settles where the entity actually transacts rather than where it says it is. A field visit settles occupancy.

Where it operates

Operating footprint

Item	As described
Geographic concentration	pan-India, 24 states in India and 3 continents
Customer types	corporate_b2b, industrial, government, utility, export
Contract types	EPC, O&M, supply
Named customers	JK Cement Ltd.
Named suppliers	Nexaum Energy Private Limited (solar modules and BOS components)
Primary inputs	solar modules, inverters, other equipment, agricultural residues, organic waste
Primary outputs	solar power plants, BESS systems, green hydrogen, green ammonia, e-fuels, compressed biogas (CBG), EPC services, O&M services

The annual report's own description of where the business operates and who it sells to. Narrative, not a register.

Screening surface. Sanctions and adverse-media screening run against named counterparties. The annual report names the largest few; it is not a complete counterparty list, and a clean screen against a partial list is not a clean screen. 2 counterparties are named here.

GST filings give the GSTIN footprint by state and the actual counterparty ledger, month by month, rather than the handful of names an annual report chooses to mention. That converts screening from a sample into a census, and it is the single biggest gap between this document and a first-party file.

What the record says

Conduct and integrity

5 of 6 checks could be run from public sources. 2 returned an adverse finding. A check that could not run is named, because a dossier listing only adverse findings cannot be told apart from one where nothing was checked.

Check	Result	Detail
SEBI or exchange action against the issuer	Clean	none found
Auditor qualification	Clean	none
Material pending litigation	Clean	—
Key management resignations in 12 months	Not run	—
Related-party concern flagged in the accounts	ADVERSE	True
Promoter shares pledged	ADVERSE	True

The annual report's governance disclosures, auditor's report and key audit matters. Every check names whether it ran.

Auditor. JVA & ASSOCIATES (small)

Key audit matters

Revenue Recognition
Capitalization of ongoing renewable projects

Board. 6 directors, including Executive, Non-Executive, and Independent Directors, bringing diverse perspectives.

Sanctions and watchlists. No sanctions or watchlist screening has been run for this document. Avexo operates an AML screening layer against OpenSanctions and OFAC SDN; it was not applied here, and a sanctions position should not be inferred from its absence.

Adverse media. No adverse-media search has been run. Reading and categorising adverse media by allegation type is a language task, not a template, and is handled in the full KYC engine rather than here.

Crime check against directors and the entity, the litigation docket, and sanctions and adverse-media screening against a full counterparty list — none of which the annual report can substitute for. A clean public record is not a clean record.

What a complete check covers

Source register

19 sources make up a complete KYC check on an entity in India, 15 of them mandatory. The register below is resolved for this company — every query is built and ready to run. 19 have been executed for this document, and their results are recorded in the table below.

Rows marked *available* have not been run for this document. They are listed so the register is complete and so a reader can see exactly what a full check would cover — not to imply the check was performed.

Searches were run on 2026-09-28 and recorded, so this document reproduces from them rather than re-running a live search each time it is built. Method: web search against the resolved source register, read and recorded by hand.

Identity — Establish the entity and its filings with the registrar.

Source	Weight	Status	What it would establish
↗ Company website ↗ re-run search	Mandatory	Nothing adverse	Website live at orianapower.com, branded TrueRE. The trading brand on the site differs from the legal name, which matters for contactability: a search for the legal name does not land on the brand the company answers to.
↗ Tofler — MCA snapshot ↗ re-run search	Mandatory	Nothing adverse	Company profile present. CIN published as L35101DL2013PLC248685.
↗ ZaubaCorp — director network ↗ re-run search	Mandatory	Nothing adverse	Company profile present. CIN published as L35990DL2013PLC248685; incorporated 21 Feb 2013; registered with RoC Delhi; non-government company. Authorised capital Rs 24.50 Cr, paid-up Rs 19.18 Cr. Directors named: Parveen Kumar, Archana Jain, Rupal Gupta, Dhawal Chhaganlal Gadda, Sankara Sastry Oruganti, Anirudh Saraswat. Predecessor entity ORIANA POWER PRIVATE LIMITED, CIN U35990DL2013PTC248685.
↗ MCA — charges + filings ↗ re-run search	Mandatory	Not run	Not retrieved. The MCA index of charges is behind paid access; CIN is established from the aggregators above but the charge register, which names who is already secured against these assets, was not obtained.

People — Directors, key management and their other roles.

Source	Weight	Status	What it would establish
↗ LinkedIn company page ↗ re-run search	Optional	Nothing adverse	Company page live as 'TrueRE - Oriana Power Ltd', headquartered Noida, 51-200 employees band. Rupal Gupta listed as Founder, MD and CEO, consistent with the annual report.

Credit — Published ratings and rating actions, including the absence of one.

Source	Weight	Status	What it would establish
↗ CRISIL — current and prior rating (fetch both years to establish trend) ↗ re-run search	Mandatory	Nothing adverse	Rated. CRISIL upgraded the bank facilities to CRISIL A-/Stable/CRISIL A2+ from CRISIL BBB+/Stable/CRISIL A2, citing sustained improvement in the business risk profile on revenue and operating profitability growth. Rated amount enhanced to Rs 600 crore.
↗ ICRA — current and prior rating (fetch both years to establish trend)	Mandatory	Not rated	No ICRA rating found for this issuer. Absence of a rating is not an adverse finding; it is recorded so the rating coverage is explicit.
↗ CARE Ratings — current and prior rating	Mandatory	Not rated	No CARE Ratings rating found for this issuer.
↗ India Ratings (Fitch) — current and prior rating	Mandatory	Not rated	No India Ratings (Fitch) rating found for this issuer.

Trade — Cross-border activity and declared counterparties.

Source	Weight	Status	What it would establish
↗ Cross-border trade data — Trademo / Volza / Panjiva ↗ re-run search	Optional	Nothing adverse	Covered by the Volza profile. Exports to Kenya, the United States and Vietnam; imports from China, Germany and Sweden.
↗ Zauba — import/export records ↗ re-run search	Mandatory	Not run	Covered by the Volza profile: 252 export shipments to 4 buyers and 79 import shipments from 18 suppliers. Zauba itself was not queried separately.
↗ Volza — export buyers ↗ re-run search	Mandatory	Nothing adverse	Trade profile present. 252 export shipments to 4 buyers (Kenya, United States, Vietnam; buyers named include Premier Solar Solutions Limited, Insta Products EPZ Ltd, Surya Carpets) and 79 import shipments from 18 suppliers across China, Germany and Sweden. Exported goods fall under HSN 7308, 3917 and 7318.
↗ DGFT — IEC credentials ↗ re-run search	Mandatory	Not run	IEC 0514016752 recovered from the IndiaMART supplier profile, not from DGFT directly. The DGFT IEC profile page was not queried, so the IEC is unverified against the issuing authority.

Listings — Self-published catalogues and marketplace presence.

Source	Weight	Status	What it would establish
↗ IndiaMART — product catalogue ↗ re-run search	Mandatory	Nothing adverse	Supplier profile live. Publishes GSTIN 07AABCO7980R1ZJ (state code 07 = Delhi), IEC 0514016752, GST registration 01-07-2017, legal status Limited Company, turnover band > Rs 500 Cr, CEO Rupal Gupta. Employee band shown as 26-50, which is inconsistent with the annual report and with LinkedIn.

Regulatory — Sector regulators and enforcement bodies.

Source	Weight	Status	What it would establish
↗ Sebi Enforcement	Optional	Nothing adverse	The only SEBI record located for this entity is a Draft Offer Document filed 23 August 2023 as part of a public issue. Verified directly: it is a routine public-issue filing, not an order, penalty or enforcement action.
↗ Encumbrance Ndu	Optional	Nothing adverse	The encumbrance recorded on the exchange filing is a Non-Disposal Undertaking, not a pledge. Promoters Rupal Gupta, Parveen Kumar and Anirudh Saraswat created an NDU over 52.82 lakh equity shares, 26% of paid-up capital, in two tranches on 19 and 22 June 2026. Reported as no new encumbrances in FY26.

News — Press coverage over the recent period.

Source	Weight	Status	What it would establish
↗ General news (last 24 months) ↗ re-run search	Mandatory	Nothing adverse	No adverse coverage found. Coverage over the period is commercial: a Rs 214.80 Cr solar EPC order from a cement producer in Rajasthan, a Rs 94.51 Cr ground-mounted order in Bihar, a Rs 4,500 Cr MoU, a 1:5 stock split, two new wholly owned subsidiaries (TrueRE Prithvi Renewables, TrueRE Suryagrid Energy) formed Aug 2026, and BESS targets raised from ~3.5 GWh to ~20 GWh by 2030.
↗ Economic Times ↗ re-run search	Mandatory	Nothing adverse	FY26 consolidated revenue reported as Rs 1,814 Cr, up 83.7%, with PAT Rs 252.34 Cr, up 59.1%. Both corroborate the figures used in the credit assessment.

Sanctions — Sanctions, watchlist and enforcement screening.

Source	Weight	Status	What it would establish
↗ OFAC / UN / EU sanctions screen ↗ re-run search	Mandatory	Nothing adverse	No match returned for this entity against OFAC / UN / EU sanctions in an open search. This is a negative search result, NOT a screened clearance: no list was queried directly and no screening tool was run.

Official registry. https://www.mca.gov.in/content/mca/global/en/home.html — primary identifier is PAN / CIN.

The full KYC engine executes this register, reads and categorises what comes back by allegation type, and returns a dated result per source instead of a link.