MIRA INFORM REPORT

Report Date :

03.09.2014

IDENTIFICATION DETAILS

Name :	SUNSTAR OVERSEAS LIMITED
Registered Office :	4119/7, 1^st Floor, Naya Bazar, New Delhi – 110006, Delhi
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	06.01.1995
Com. Reg. No.:	55-064140
Capital Investment / Paid-up Capital :	Rs.114.169 Millions
CIN No.: [Company Identification No.]	U74899DL1995PLC064140
Legal Form :	A closely held public limited liability company.
Line of Business :	Manufacturer and Exporter specializing in Basmati Rice, Food Grains, Aloo Mutter, Arhar Red Gram, Bajra Flour and Besan.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (58)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 13000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track. The rating takes into consideration the long standing experience of Sunstar Overseas Limited’s management in the basmati rice industry supported by healthy scale of operations, well diversified as well as stable customer base and healthy financial risk profile of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Cash Credit = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	December 2013.

Rating Agency Name	ICRA
Rating	Working Capital Facilities = A3
Rating Explanation	Moderate degree of safety and higher credit risk
Date	December 2013.

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Sanjay Arora
Designation :	Assistant Manager
Contact No.:	91-130-33663355
Date :	02.09.2014

LOCATIONS

Registered Office :	4119/7, 1^st Floor, Naya Bazar, New Delhi – 110006, Delhi, India
Tel. No.:	91-11-23930560
Fax No.:	Not Available
E-Mail :	info@sunstarmail.com rajeshkhanna@sunstarmail.com
Website :	www.sunstaroverseas.com
Corporate Office :	Gate No.2, 40 KM Stone, G.T. Karnal Road, Bahalgarh, District : Sonepat – 131021, Haryana, India
Fax No.:	91-130-2381925 / 3982352
E-Mail :	info@sunstarmail.com
Works and Processing Unit 1:	Gate No.2, 40 KM Stone, G.T. Karnal Road, Bahalgarh, District : Sonepat – 131021, Haryana, India
Tel. No.:	91-130-3051100
Fax No.:	91-130-2381055
E-Mail :	info@sunstarmail.com
Works and Processing Unit 2:	14 KM Stone, Dalpatpur, Rampur Road, Moradabad-244001, Uttar Pradesh, India
Fax No.:	91-591-2256123
E-Mail :	info@sunstarmail.com
Works and Processing Unit 3:	26 KM Stone, Amritsar-Jalandhar G.T.Road, Tangra, Amritsar-143009, Punjab, India
Fax No.:	91-183-3014016
E-Mail :	info@sunstarmail.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Rakesh Aggarwal

Designation :

Managing director

Address :

1 Sangam Estae, Under Hill Road, Near Parmanand Hospital, Civil Lines, Delhi – 110006, Delhi, India

Date of Birth/Age :

11.06.1958

Date of Appointment :

11.06.2011

DIN No.:

00038973

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	U74899DL1990PTC041868	DIGVIJAY SYSTEMS AND SERVICES PRIVATE LIMITED	Director	09/09/1998	09/09/1998	-	Active	NO
2	U15499DL2001PLC110527	SUNSTAR BROADLINE DISTRIBUTION LIMITED	Director	23/04/2001	23/04/2001	-	Active	NO
3	U74899DL1995PLC064140	SUNSTAR OVERSEAS LIMITED	Managing director	16/06/2011	06/01/2005	-	Active	NO
4	U70101DL2005PTC135911	DIGVIJAY PROMOTORS PRIVATE LIMITED	Director	06/05/2005	06/05/2005	-	Active	NO
5	U70101DL2005PTC135912	SUNSTAR BUILDWELL PRIVATE LIMITED	Director	06/05/2005	06/05/2005	-	Active	NO
6	U72900DL2005PTC136404	SUNSTAR INFOCOM PRIVATE LIMITED	Director	18/05/2005	18/05/2005	-	Active	NO
7	U45201DL2005PTC134100	RSA PROPBUILD PRIVATE LIMITED	Director	29/07/2005	29/07/2005	-	Active	NO
8	U45201DL2005PTC139374	GREATWALL CONSTRUCTION AND DEVELOPERS PRIVATE LIMITED	Director	05/08/2005	05/08/2005	-	Active	NO
9	U15122DL2005PTC139372	RRPL FOODS PRIVATE LIMITED	Director	05/08/2005	05/08/2005	01/11/2010	Active	NO
10	U45201DL2005PTC139373	SUNSTAR ORGANIC FOODS PRIVATE LIMITED	Director	05/08/2005	05/08/2005	-	Active	NO
11	U00400DL2005PTC140535	SUNSTAR BIO-ENERGY PRIVATE LIMITED	Director	08/09/2005	08/09/2005	-	Active	NO
12	U72200DL2005PTC144286	A AND A SOFTECH PRIVATE LIMITED	Additional director	01/01/2008	01/01/2008	10/07/2008	Strike off	NO
13	U15137DL2008PTC172478	SMJ FOODS PRIVATE LIMITED	Director	09/01/2008	09/01/2008	-	Active	NO
14	U15494DL2010PTC200663	DIGVIJAY FOODS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
15	U01400DL2010PTC200662	RRSP FARMS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
16	U15400DL2010PTC200661	RRSP FOODS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
17	U15314DL2010PTC200650	FREEWAY FOODS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
18	U15314DL2010PTC200628	RSA FOODS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
19	U01403DL2010PTC200677	SRN FARMS PRIVATE LIMITED	Director	25/03/2010	25/03/2010	-	Active	NO
20	U65923DL2005PTC135680	SANVI EXIM PRIVATE LIMITED	Director	24/12/2010	24/12/2010	-	Active	NO
21	U50200DL2010PTC211679	NEWTON INTERNATIONAL PRIVATE LIMITED	Alternate director	16/12/2013	16/12/2013	-	Active	NO

Name :

Mr. Rohit Aggarwal

Designation :

Joint Managing Director

Address :

24-B, Alipur Road, Civil Lines, Opposite Old Secretariat, Delhi – 110054, Delhi, India

Date of Birth/Age :

12.09.1974

Date of Appointment :

16.06.2011

DIN No.:

00613475

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	U28991DL1991PTC050042	STAR TRACK FASTENERS PRIVATE LIMITED	Director	01/08/1993	01/08/1993	-	Active	NO
2	U74899DL1995PLC064140	SUNSTAR OVERSEAS LIMITED	Whole-time director	16/06/2011	06/01/1995	-	Active	NO
3	U74899DL1990PTC041868	DIGVIJAY SYSTEMS AND SERVICES PRIVATE LIMITED	Director	01/01/2001	01/01/2001	-	Active	NO
4	U15499DL2001PLC110527	SUNSTAR BROADLINE DISTRIBUTION LIMITED	Director	02/03/2005	02/03/2005	-	Active	NO
5	U70101DL2005PTC135911	DIGVIJAY PROMOTORS PRIVATE LIMITED	Director	06/05/2005	06/05/2005	-	Active	NO
6	U70101DL2005PTC135912	SUNSTAR BUILDWELL PRIVATE LIMITED	Director	06/05/2005	06/05/2005	-	Active	NO
7	U72900DL2005PTC136404	SUNSTAR INFOCOM PRIVATE LIMITED	Director	18/05/2005	18/05/2005	-	Active	NO
8	U45201DL2005PTC134100	RSA PROPBUILD PRIVATE LIMITED	Director	29/07/2005	29/07/2005	-	Active	NO
9	U15122DL2005PTC139372	RRPL FOODS PRIVATE LIMITED	Director	05/08/2005	05/08/2005	-	Active	NO
10	U45201DL2005PTC139373	SUNSTAR ORGANIC FOODS PRIVATE LIMITED	Director	05/08/2005	05/08/2005	-	Active	NO
11	U45201DL2005PTC139374	GREATWALL CONSTRUCTION AND DEVELOPERS PRIVATE LIMITED	Director	05/08/2005	05/08/2005	-	Active	NO
12	U00400DL2005PTC140535	SUNSTAR BIO-ENERGY PRIVATE LIMITED	Director	08/09/2005	08/09/2005	-	Active	NO
13	U15494DL2010PTC200663	DIGVIJAY FOODS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
14	U01400DL2010PTC200662	RRSP FARMS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
15	U15400DL2010PTC200661	RRSP FOODS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
16	U15314DL2010PTC200650	FREEWAY FOODS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
17	U15314DL2010PTC200628	RSA FOODS PRIVATE LIMITED	Director	23/03/2010	23/03/2010	-	Active	NO
18	U01403DL2010PTC200677	SRN FARMS PRIVATE LIMITED	Director	25/03/2010	25/03/2010	-	Active	NO
19	U65923DL2005PTC135680	SANVI EXIM PRIVATE LIMITED	Director	24/12/2010	24/12/2010	-	Active	NO
20	U72300DL2008PTC172933	RRPL GLOBAL PRIVATE LIMITED	Director	22/05/2013	22/05/2013	-	Active	NO
21	U63020DL2012PTC242523	STAR GLOBAL MULTI VENTURES PRIVATE LIMITED	Director	15/10/2013	15/10/2013	-	Active	NO
22	U51101DL2013PTC262370	COUNTRYWIDE DISTRIBUTORS PRIVATE LIMITED	Director	18/12/2013	18/12/2013	-	Active	NO

Name :

Mrs. Sadhna Aggarwal

Designation :

Whole-time director

Address :

1 Sangam Estae, Under Hill Road, Near Parmanand Hospital, Civil Lines, Delhi – 110006, Delhi, India

Date of Birth/Age :

24.04.1962

Date of Appointment :

10.05.2007

DIN No.:

01399983

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	U74899DL1995PLC064140	SUNSTAR OVERSEAS LIMITED	Whole-time director	10/05/2007	17/03/2007	-	Active	NO
2	U15137DL2008PTC172478	SMJ FOODS PRIVATE LIMITED	Director	09/01/2008	09/01/2008	07/10/2008	Active	NO

Name :

Mr. Naresh Kumar Aggarwal

Designation :

Director

Address :

24-B, Alipur Road, Civil Lines, Opposite Old Secretariat, Delhi – 110054, Delhi, India

Date of Birth/Age :

13.01.1953

Date of Appointment :

16.06.2011

DIN No.:

00002073

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	U28991DL1982PTC076744	DIGVIJAY STEELS PRIVATE LIMITED	Managing director	16/02/1982	16/02/1982	-	Active	NO
2	U28910DL1991PTC043159	VEDKIRAN STEEL INDUSTRIES PRIVATE LIMITED	Director	19/02/1991	19/02/1991	25/05/2012	Active	NO
3	U31102DL1984PTC019483	ACCUSTAMP PRIVATE LIMITED	Director	30/08/1991	30/08/1991	-	Active	NO
4	U99999DL1996PTC080375	DIGVIJAY FINANCIAL SERVICES PRIVATE LIMITED	Director	15/09/1996	15/09/1996	-	Active	NO
5	U74899DL1995PTC068113	MAA SARDA RAIL NIRMAN PRIVATE LIMITED	Director	01/10/1996	01/10/1996	25/05/2012	Active	NO
6	U28910DL1997PTC088339	voestalpine VAE VKN India Private Limited	Managing director	03/07/1997	03/07/1997	-	Active	NO
7	U74899DL1995PLC064140	SUNSTAR OVERSEAS LIMITED	Director	16/06/2011	06/01/2005	-	Active	NO
8	U74899DL1990PTC041868	DIGVIJAY SYSTEMS AND SERVICES PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
9	U15137DL2008PTC172478	SMJ FOODS PRIVATE LIMITED	Director	04/10/2008	04/10/2008	-	Active	NO
10	U51109MH2009PTC192721	J P BROADLINE DISTRIBUTION COMPANY PRIVATE LIMITED	Director	05/03/2010	05/03/2010	24/08/2011	Active	NO
11	U28991DL1991PTC050042	STAR TRACK FASTENERS PRIVATE LIMITED	Additional director	04/04/2011	04/04/2011	-	Active	NO
12	U63020DL2012PTC242523	STAR GLOBAL MULTI VENTURES PRIVATE LIMITED	Director	19/09/2012	19/09/2012	-	Active	NO
13	U93000MH2013NPL247197	FOLLOW YOUR DREAMS FOUNDATION INDIA	Director	19/08/2013	19/08/2013	-	Active	NO
14	U51101DL2013PTC262370	COUNTRYWIDE DISTRIBUTORS PRIVATE LIMITED	Director	18/12/2013	18/12/2013	-	Active	NO

Name :

Mr. Sumit Aggarwal

Designation :

Whole-time director

Address :

B-6, Raj Narain Marg, Civil Lines, Delhi – 110054, Delhi, India

Date of Birth/Age :

23.09.1981

Date of Appointment :

16.06.2011

DIN No.:

00041666

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	U74899DL1995PLC064140	SUNSTAR OVERSEAS LIMITED	Whole-time director	16/06/2011	01/04/2005	-	Active	NO
2	U00400DL2005PTC140535	SUNSTAR BIO-ENERGY PRIVATE LIMITED	Director	08/09/2005	08/09/2005	-	Active	NO
3	U63020DL2012PTC242523	STAR GLOBAL MULTI VENTURES PRIVATE LIMITED	Director	16/05/2013	16/05/2013	-	Active	NO

Name :

Mr. Manik Aggarwal

Designation :

Whole-time director

Address :

28-A, Racquet Court Roaad, Alipur Road, Civil Lines, Delhi – 110054, Delhi, India

Date of Birth/Age :

07.04.1990

Date of Appointment :

16.06.2011

DIN No.:

02294865

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	U74899DL1995PLC064140	SUNSTAR OVERSEAS LIMITED	Whole-time director	16/06/2011	09/01/2009	-	Active	NO
2	U50200DL2010PTC211679	NEWTON INTERNATIONAL PRIVATE LIMITED	Director	22/12/2010	22/12/2010	-	Active	NO

Name :

Mrs. Puja Aggarwal

Designation :

Whole-time director

Address :

24-A, Alipur Road, Civil Lines, Delhi – 110054, Delhi, India

Date of Birth/Age :

03.02.1977

Date of Appointment :

16.06.2011

DIN No.:

02298419

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	U74899DL1981PLC011673	ASHI LTD	Director	31/01/2011	23/08/2008	-	Active	NO
2	U74899DL1995PLC064140	SUNSTAR OVERSEAS LIMITED	Whole-time director	16/06/2011	10/09/2008	-	Active	NO
3	U15122DL2005PTC139372	RRPL FOODS PRIVATE LIMITED	Director	28/10/2010	28/10/2010	-	Active	NO
4	U72300DL2008PTC172933	RRPL GLOBAL PRIVATE LIMITED	Director	22/05/2013	22/05/2013	-	Active	NO

Name :

Mr. Ankur Aggarwal

Designation :

Director

Address :

28-A, Racquet Court Roaad, Alipur Road, Civil Lines, Delhi – 110054, Delhi, India

Date of Birth/Age :

15.12.1983

Date of Appointment :

16.06.2011

DIN No.:

00961212

KEY EXECUTIVES

Name :	Mr. Sanjay Arora
Designation :	Assistant Manager

Name :	Mr. Rajesh Khanna
Designation :	Secretary
Address :	237/10, Adarsh Nagar, Sonepat – 13101, Haryana, India
Date of Birth/Age :	06.10.1975
Date of Appointment :	06.02.2012
PAN No.:	AOGPK5567A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Man Mohan Sarup Aggarwal	1369683
Rama Rani	285423
Sadhna Aggarwal	5708119
Navita Aggarwal	4052663
Naresh Aggarwal	350
Rakesh Aggarwal	350
Kapil Aggarwal	350
Total	11416938

AS ON 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter specializing in Basmati Rice, Food Grains, Aloo Mutter, Arhar Red Gram, Bajra Flour and Besan.

Product :

Product Description	Product Code (ITC Code)
Rice	1006
Other Rice In Husk	10061090

GENERAL INFORMATION

No. of Employees :

Information declined by the management.

Bankers :

· The Karur Vysya Bank Limited, 882, East Park Road, ,Karol Bagh, New Delhi - 110005,Delhi, INDIA

· Punjab National Bank, Near Hindu College, Sonepat - 131001, Haryana, India

· Karnataka Bank Limited, K Block Overseas Branch, K-2, Choudhary Building, Middle Circle, Connaught Place, New Delhi - 110006, Delhi, India

· City Union Bank, Karol Bagh, New Delhi, 110005, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from banks	306.281	399.904
Short-term borrowings
Working capital loans from banks	7929.453	7257.951
Term loans from banks	90.000	0.000
Total	8325.734	7657.855

Banking Relations :	--
Auditors :
Name :	R.K. Gulati and Associates Chartered Accountant
Address :	304, B.D. Chambers, 10/54, Desh Bandhu Gupta Road, Karol Bagh, New Delhi – 110005, Delhi, India
PAN No.:	AAHFR1484J
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Digvijay Steels Private Limited, India [U28991DL1982PTC076744 ] · Voestalpine Vae Vkn India Private Limited, India [U28910DL1997PTC088339] · Digvijay Promotors Private Limited, India [U70101DL2005PTC135911] · Sunstar Buildwell Private Limited, India [U70101DL2005PTC135912] · Greatwall Construction and Developers Private Limited, India [U45201DL2005PTC139374] · Sunstar Broadline Distribution Limited, India [U15499DL2001PLC110527] · Sunstar Bio-Energy Private Limited, India [U00400DL2005PTC140535] · Sunstar Infocom Private Limited, India [U72900DL2005PTC136404] · Sunstar Organic Foods Private Limited, India [U45201DL2005PTC139373] · Maa Sarda Rail Nirman Private Limited, India [U74899DL1995PTC068113] · Rrpl Foods Private Limited, India [U15122DL2005PTC139372] · Digvijay Systems and Services Private Limited, India [U74899DL1990PTC041868] · Star Track Fasteners Private Limited, India [U28991DL1991PTC050042] · Vedkiran Steel Industries Private Limited, India [U28910DL1991PTC043159] · Accustamp Private Limited, India [U31102DL1984PTC019483] · Digvijay Financial Services Private Limited, India [U99999DL1996PTC080375] · Digvijay Foods Private Limited, India [U15494DL2010PTC200663] · Srn Foods Private Limited, India [U51225DL2005PTC133911] · Smj Foods Private Limited, India [U15137DL2008PTC172478] · Sanvi Exim Private Limited, India [U65923DL2005PTC135680] · Star International · R.A Agri Products · Rsa Propbuild Private Limited, India [U45201DL2005PTC134100] · Freeway Foods Private Limited, India [U15314DL2010PTC200650] · Rsa Foods Private Limited, India [U15314DL2010PTC200628] · Rsp Farms Private Limited, India [U05005WB1989PTC047235]

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11416938	Equity Shares	Rs.10/- each	Rs. 114.169 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	114.169	114.169	114.169
(b) Reserves & Surplus	3078.562	2817.412	1521.279
(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)	3192.731	2931.581	1635.448
(3) Non-Current Liabilities
(a) long-term borrowings	306.281	399.904	538.255
(b) Deferred tax liabilities (Net)	112.540	136.968	152.983
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	20.434	17.632	9.019
Total Non-current Liabilities (3)	439.255	554.504	700.257
(4) Current Liabilities
(a) Short term borrowings	8119.453	7307.951	7693.438
(b) Trade payables	1836.927	1708.474	1173.979
(c) Other current liabilities	236.278	187.648	200.617
(d) Short-term provisions	99.780	93.715	71.993
Total Current Liabilities (4)	10292.438	9297.788	9140.027
TOTAL	13924.424	12783.873	11475.732
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2692.061	2800.991	1559.536
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	2.374	0.828	134.146
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	57.560	57.560	41.581
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	90.650	89.097	94.338
(e) Other Non-current assets	0.000	0.000	2.756
Total Non-Current Assets	2842.645	2948.476	1832.357
(2) Current assets
(a) Current investments	17.265	17.265	17.265
(b) Inventories	6974.581	6908.586	6827.293
(c) Trade receivables	3154.385	2366.851	2171.831
(d) Cash and cash equivalents	183.374	100.351	148.098
(e) Short-term loans and advances	750.671	439.588	477.386
(f) Other current assets	1.503	2.756	1.502
Total Current Assets	11081.779	9835.397	9643.375
TOTAL	13924.424	12783.873	11475.732

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Revenue from operations	15955.803	13046.974	10178.520
	Other Income	19.973	34.789	27.082
	TOTAL (A)	15975.776	13081.763	10205.602
Less	EXPENSES
	Cost of Materials Consumed	12733.835	9802.430	9444.842
	Purchases of Stock-in-Trade	675.235	382.462	22.980
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(667.523)	(12.801)	(1341.106)
	Employees benefits expense	234.027	199.802	143.351
	Expenditure on production, transportation and other expenditure	290.605	306.182	287.986
	pertaining to E&P activities	1261.456	1053.962	726.884
	TOTAL (B)	14527.635	11732.037	9284.937
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1448.141	1349.726	920.665
Less	FINANCIAL EXPENSES (D)	939.095	851.738	563.082
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	509.046	497.988	357.583
Less/ Add	DEPRECIATION/ AMORTISATION (F)	209.421	216.438	127.354
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	299.625	281.550	230.229
Less	TAX (H)	38.475	44.372	84.351
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	261.150	237.178	145.878
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	209.049	71.871	25.993
	Balance Carried to the B/S	470.199	309.049	171.871
	Earnings / (Loss) Per Share (Rs.)	22.87	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.63	1.81	1.43
Net Profit Margin (PBT/Sales)	(%)	1.88	2.16	2.26
Return on Total Assets (PBT/Total Assets}	(%)	2.16	2.21	2.04
Return on Investment (ROI) (PBT/Networth)		0.09	0.10	0.14
Debt Equity Ratio (Total Debt /Networth)		2.64	2.63	5.03
Current Ratio (Current Asset/Current Liability)		1.08	1.06	1.06

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	114.169	114.169	114.169
Reserves & Surplus	1521.279	2817.412	3078.562
Net worth	1635.448	2931.581	3192.731
long-term borrowings	538.255	399.904	306.281
Short term borrowings	7693.438	7307.951	8119.453
Total borrowings	8231.693	7707.855	8425.734
Debt/Equity ratio	5.033	2.629	2.639

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Revenue from operations	10178.520	13046.974	15955.803
		28.181	22.295

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Revenue from operations	10178.520	13046.974	15955.803
Profit After Tax	145.878	237.178	261.150
	1.43%	1.82%	1.64%

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	No
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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
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	Yes

LITIGATION DETAILS

IN THE HIGH COURT OF DELHI AT NEW DELHI

  ITA 792/2010

  CIT .....

  Appellant
  Through Ms. Suruchii Aggarwal, Advocate.

versus

  SUNSTAR OVERSEAS LTD ..... Respondent

  Through None.

  CORAM:
   HON'BLE THE CHIEF JUSTICE

   HON'BLE MR. JUSTICE MANMOHAN

   O R D E R

   29.09.2010

 The present appeal preferred under Section 260A of the Income Tax Act, 1961 (in short ?Act?) is admitted on the following substantial question of law:- 1. Whether the conditions to be satisfied for the purpose of giving enhanced deduction as per 3rd proviso of sub-section (3) of section 80 HHC namely that the assessee must furnish the necessary and sufficient evidence to prove that he had an option to choose either the duty drawback or the DEPB Scheme, being the duty remission scheme is not to be mandatorily satisfied?

  ITA 792/2010 page 1 of 2.

  Issue notice.

  Filing of paper book stands dispensed with.

  Let this appeal be linked with ITA No.1080/2010.

  CHIEF JUSTICE

  MANMOHAN, J

  SEPTEMBER 29, 2010

  rn



  ITA 792/2010 page 1 of 2.

  #19
  $

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10373744	30/08/2012	8,223,300,000.00	ICICI BANK LIMITED (ON BEHALF OF THE KARUR VYSYA B  ANK LIMITED LEAD BANKER)	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B56886039
2	10367414	14/06/2012	200,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT, M  UMBAI, MAHARASHTRA - 400021, INDIA	B44387611
3	10357928	04/05/2012	50,000,000.00	CORPORATION BANK CORPORATE BANKING BRANCH DELHI	10TH,FLOOR, H.T.HOUSE, 18/20,K.G.MARG CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	B40522666
4	10352365	18/04/2012	100,000,000.00	KARNATAKA BANK LINITED	K-2 CHAUDHERY BUILDING, OVERSEAS BRANCH CONNAUGHT PLACE, DELHI, DELHI - 110001, INDIA	B38449856
5	10354872	12/04/2012	200,000,000.00	CORPORATION BANK CORPORATE BANKING BRANCH DELHI	10TH,FLOOR, H.T.HOUSE, 18/20,K.G.MARG CONNAUGHT P  LACE, NEW DELHI, DELHI - 110001, INDIA	B39381595
6	10324677	08/12/2011	100,000,000.00	CORPORATION BANK LARGE CORPORATE BANKING BRANCH	10TH,FLOOR, H.T.HOUSE, 18/20,K.G.MARG CONNAUGHT P  LACE, NEW DELHI, DELHI - 110001, INDIA	B28389914
7	10310138	16/08/2011	100,000,000.00	KARNATAKA BANK LIMITED	OVERSEAS BRANCH, K-2, CHAUDHARY BUILDING,, CONNAU  GHT PLACE, NEW DELHI, DELHI - 110001, INDIA	B22527659
8	10309773	12/08/2011	75,000,000.00	CITY UNION BANK	KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	B22367270
9	10256262	25/10/2010	100,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA -  400018, INDIA	B01088996
10	10463140	23/10/2010	500,000,000.00	PUNJAB NATIONAL BANK	NEAR HINDU COLLEGE, SONEPAT, HARYANA - 131001, INDIA	B02904498

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Term loans from banks	100.000	50.000
Total	100.000	50.000

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

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 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	Indian Rupees
US Dollar	1	Rs.60.61
UK Pound	1	Rs.100.49
Euro	1	Rs.79.56

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	KAR
Report Prepared by :	SNT / KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-----
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.