MIRA INFORM REPORT

Report Date :

30.07.2013

IDENTIFICATION DETAILS

Name :	SUNRISE RICELAND PRIVATE LIMITED
Registered Office :	817, Jawala Nagar, Gali Khajoor Wali, Shahdara, New Delhi – 110032
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.07.2009
Com. Reg. No.:	55-192199
Capital Investment / Paid-up Capital :	Rs. 10.200 Millions
CIN No.: [Company Identification No.]	U51909DL2009PTC192199
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Rice.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 43000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The financial position of the company is below average due to low reserves and huge external borrowings. However, trade relations are reported as fair. Business is active. Payment terms are reported as slow but correct. The company can be considered for business dealings with some caution.

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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Pawan Kumar Gupta
Designation :	Director
Contact No.:	91-9812006269
Date :	27.07.2013

LOCATIONS

Registered Office :	817, Jawala Nagar, Gali Khajoor Wali, Shahdara, New Delhi – 110032, India
Tel. No.:	Not Available
Mobile No.:	91-9812006269 (Mr. Pawan Gupta)
Fax No.:	Not Available
E-Mail :	sunrisericeland@yahoo.com
Website :	http://www.sunrisericeland.com
Factory :	Aripura Road, Gianpura, Gharaunda, Karnal – 132114, Haryana, India
Tel. No.:	91-1748-251001

DIRECTORS

As on : 29.09.2012

Name :

Mr. Pawan Kumar Gupta

Designation :

Director

Address :

Sector 11/12 NHBC, Panipat – 132103, Haryana, India

Date of Birth/Age :

08.0.1965

Date of Appointment :

14.07.2009

DIN No.:

00949339

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	U74899DL1995PTC068605	M.R. WOOLENS PRIVATE LIMITED	Director	16-05-95	16-05-95	01-02-12	Active	NO
2	U45201DL2005PTC141241	AVP BUILDERS PRIVATE LIMITED	Director	28-09-05	28-09-05	-	Active	NO
3	U51909DL2009PTC192199	SUNRISE RICELAND PRIVATE LIMITED	Director	14-07-09	14-07-09	-	Active	NO
4	U17219HR2009PTC039487	SHRI KRISHAN KRIPA TEXTORIUM PRIVATE LIMITED	Director	16-09-09	16-09-09	-	Active	NO

Name :

Mr. Anil Kumar

Designation :

Director

Address :

134, Sunard Wali Gali, Sector 10, Gharaunda, Karnal – 132114, Haryana, India

Date of Birth/Age :

02.10.1965

Date of Appointment :

14.07.2009

DIN No.:

01007174

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	U45201DL2005PTC141241	AVP BUILDERS PRIVATE LIMITED	Director	28-09-05	28-09-05	-	Active	NO
2	U70109DL2006PTC154861	KESHAV INFRATECH PRIVATE LIMITED	Director	10-10-08	10-10-08	05-08-10	Active	NO
3	U51909DL2009PTC192199	SUNRISE RICELAND PRIVATE LIMITED	Director	14-07-09	14-07-09	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 29.09.2012

Names of Shareholders	No. of Shares
Pawan Kumar	100000
Anil Kumar	130000
Renu Garg	100000
Dev Darshana	100000
Rani Sheela	17500
Gupta Mohan Ram	52500
Vijay Gupta	40000
Rajesh Gupta	15000
Tayal Chand Gian	57500
Tayal Ravindra	22000
Gupta Kumar Pawan	10000
Sunny Garg	27500
Garg Nidhi	5000
Gupta Sharda	30000
Ram Mange	65000

Equity Share Break up (Percentage of Total Equity)

As on : 29.09.2012

Category	Percentage
Bodies corporate
Directors or relatives of Directors	96.00
Other top fifty shareholders	4.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacture of Rice.
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

100 (Approximately)

Bankers :

Allahabad Bank, G T B Road, Panipat – 132103, Haryana, India

Facilities :

Rs in Millions

SECURED LOAN	As on 31.03.2012	As on 31.03.2011
Loans and Advances from Banks
Term loans from Allahabad Bank (The above loans are secured against hypothecation of land, building, machinery both present and future and by personal guarantees of Directors and major share holders)	44.172	39.908
Total	44.172	39.908

Auditors :
Name :	Deepak Thapar and Company Chartered Accountants
Address :	132-L, Model Town, Karnal - 132001, Haryana, India
Tel. No.:	91-2205263 / 2274318
PAN No.:	AAMPT3140J

CAPITAL STRUCTURE

As on : 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs. 10/- each	Rs. 15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1020000	Equity Shares	Rs. 10/- each	Rs. 10.200 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.200	10.200
(b) Reserves & Surplus	0.630	0.030
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	10.830	10.230
(3) Non-Current Liabilities
(a) long-term borrowings	62.388	50.055
(b) Deferred tax liabilities (Net)	1.655	1.058
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	64.043	51.113
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	1.671	15.035
(c) Other current liabilities	0.868	0.588
(d) Short-term provisions	0.282	0.247
Total Current Liabilities (4)	2.821	15.870
TOTAL	77.694	77.213
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	66.350	62.179
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.100	1.009
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.133	0.178
Total Non-Current Assets	66.583	63.366
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1.876	0.267
(c) Trade receivables	6.086	6.028
(d) Cash and cash equivalents	1.580	4.939
(e) Short-term loans and advances	1.569	2.613
(f) Other current assets	0.000	0.000
Total Current Assets	11.111	13.847
TOTAL	77.694	77.213

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		10.200
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		10.200
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		4.415
TOTAL BORROWING		4.415
DEFERRED TAX LIABILITIES		0.000
TOTAL		14.615
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.601
Capital work-in-progress		0.000
INVESTMENT		0.204
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.490
	Other Current Assets	0.000
	Loans & Advances	8.247
Total Current Assets		8.737
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.147
	Other Current Liabilities	0.002
	Provisions	0.000
Total Current Liabilities		2.149
Net Current Assets		6.588
MISCELLANEOUS EXPENSES		0.222
TOTAL		14.615

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL (A)	38.940	19.581	0.000
Less	EXPENSES
		TOTAL (B)	21.032	10.265	0.000
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		17.908	9.316	0.000
Less	FINANCIAL EXPENSES (D)		7.238	1.836	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		10.670	7.480	0.000
Less/ Add	DEPRECIATION/ AMORTISATION (F)		9.188	6.144	0.000
	PROFIT BEFORE TAX (E-F) (G)		1.482	1.336	0.000
Less	TAX (H)		0.882	1.306	0.000
	PROFIT AFTER TAX (G-H) (I)		0.600	0.030	0.000
	Earnings Per Share (Rs.)		0.59	NA	0.00

Particulars	31.03.2013
Sales Turnover (Approximately)	40.000

The above information has been parted by Mr. Pawan Kumar Gupta (Director)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.54	0.15	0.00
Return on Total Assets (PBT/Total Assets}	(%)	13.18	1.73	0.00
Return on Investment (ROI) (PBT/Networth)		0.14	0.13	0.00
Debt Equity Ratio (Total Debt /Networth)		5.91	5.00	0.00
Current Ratio (Current Asset/Current Liability)		3.99	4.88	0.00

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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	Yes
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

FUTURE PROSPECTUS :

The company is going to have another excellent year of performance and hopes will achieve higher turnover coupled with higher profitability. The company has already been recognized as a export house by Government of India.

UNSECURED LOANS :

(Rs in Millions)

PARTICULARS	31.03.2012	31.03.2011
Long term borrowings :
From Directors	3.698	3.076
From relatives	14.518	7.071
Total	18.216	10.147

INDEX OF CHARGE :

Sr .No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10221027	20/01/2011 *	52,000,000.00	ALLAHABAD BANK	G. T. ROAD, PANIPAT, Haryana - 132103, INDIA	B04788642

* Date of charge modification

FIXED ASSETS :

v Plant and machinery

v Office equipments

v Lab Equipments

v Transformer

v Weighting Bridge Scale

v Wooden Crates

v Building

v Computer

v Furniture and Fixture

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. 59.30
UK Pound	1	Rs. 91.18
Euro	1	Rs. 78.71

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		30

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.