MIRA INFORM REPORT

Report Date :

09.04.2011

IDENTIFICATION DETAILS

Name :	DIAMOND SPECTRUM ENTERPRISES B.V.

Registered Office :	Nijverheidstraat 27, 4143HN Leerdam

Country :	Netherlands

Financials (as on) :	31.12.2009

Date of Incorporation :	13.01.1998

Com. Reg. No.:	33299041

Legal Form :	Limited Company

Line of Business :	Cutting of natural stone

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	€ 30.000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Netherlands

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

CONTACTINFORMATION

Company name	Diamond Spectrum Enterprises B.V.
Tradename	Diamond Spectrum Enterprises B.V.
Address	Nijverheidstraat 27
	4143HN Leerdam
	Netherlands
Mail address	Postbus 274
	4140AG Leerdam
	Netherlands
Telephone number	0345509010
Telefax number	0345509011
E-mail address	mailbox@diamondspectrum.com
Website	www.diamondspectrum.com

CREDIT LIMIT

A credit of € 30.000 may be granted Normal

COMPANY STRUCTURE

Shareholder	Diamond Spectrum Holding B.V.
	Stijn Streuvelshof 20
	1321AA ALMHONOR
	Netherlands
	KvK: 33237916
	Active since: 30-12-1997
	Percentage: 100.00%
Holding company	Diamond Spectrum Holding B.V.
	Stijn Streuvelshof 20
	1321AA ALMHONOR
	KvK: 33237916

Bankers Rabobank Netherlands

Real estate Lease

The real estate is checked at the land registration office

Object code: LEERDAM E 78

Owner: DIAMOND SPECTRUM HOLDING B.V.

Description: 45000

MANAGEMENT

Management B. Hasnain Badrul

Authorization: Fully authorized

Position: Manager

Date appointed: 30-12-1997

Date of birth: 15-11-1966

E. Hasnain-Nasim Endeleeb

Authorization: Fully authorized

Position: Manager

Date appointed: 30-12-1997

Date of birth: 11-06-1969

Payment information

Payment experience Payment are regular

FINANCIAL INFORMATION

Publication financial statement Annual accounts 2009 are published on 27-12-2010

Annual accounts 2008 are published on 29-09-2009

Annual accounts 2007 are published on 03-02-2009

Type of publication Corporate

Publication Publication according to obligations by law

CORE FIGURES

BOOKYEAR	2009	2008	2007
Quick ratio	0,23	0,25	0,33
Current ratio	1,14	1,17	1,10
Nett workingcapital / Balance total	0,12	0,13	0,08
Capital and reserves / Balance total	0,18	0,18	0,16
Capital and reserves / Fixed assets	2,24	2,37	2,01
Solvency	0,22	0,22	0,19
Nett workingcapital	241.734	249.965	153.000
Capital and reserves	374.164	330.593	295.000
Change capital and reserves	13,18%	12,07%	45,32%
change short term liabilities	13,45%	-5,13%	-28,85%

Annual accounts The company is obligated to publish its annual accounts

Last annual accounts 2009

Tendency Upward

Tendency capital and reserves

Capital and reserves 2009 374.164

Total debt 2009 1.708.905

Current ratio 2009 1,14

Quick ratio 2009 0,23

Nett workingcapital 2009 241.734

Profitability Positive

Solvency Sufficient

Liquidity Sufficient

Current- & Quickratio

Balance sheet

Currency in Euro

BALANCE
BOOKYEAR	2009	2008	2007
End of bookyear	31-12-2009	31-12-2008	31-12-2007
Tangible assets	166.694	139.564	147.000
Fixed assets	166.694	139.564	147.000
Stocks and work in progress	1.524.366	1.352.278	1.193.000
Accounts receivable	391.425	368.050	515.000
Liquid assets	584	5.765	1.000
Current assets	1.916.375	1.726.093	1.709.000
Total assets	2.083.069	1.865.657	1.856.000
Capital and reserves	374.164	330.593	295.000
other long term debts			6.000
Long term liabilities	34.264	58.936	6.000
Other short term debts			1.556.000
Total short term debt	1.674.641	1.476.128	1.556.000
Total debt	1.708.905	1.535.064	1.562.000
Total Liabilities	2.083.069	1.865.657	1.856.000

Company structure

Diamond Spectrum Holding B.V. (33237916)

ALMHONOR

Diamond Spectrum Enterprises B.V.

(33299041) Leerdam

Subsidiary (100%)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.04
UK Pound	1	Rs.72.20
Euro	1	Rs.63.40

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

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%)

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.

Handelsregisternummer	33299041
Registered in	Chamber of commerce Midden-Netherlands
First registration	13-01-1998
Act of foundation	30-12-1997
Date of constitution	05-05-1992
Continuation date	30-12-1997
Legal form	Besloten Vennootschap
Place of constitution	Amsterdam
Capital	EUR 90.756,04
Issued capital	EUR 18.151,21
Paid up capital	EUR 18.151,21

Bookyear	2009	2008	2007
Number	7	6	3
Change	16,67%	100,00%	0,00%