MIRA INFORM REPORT

Report Date :

13.12.2011

IDENTIFICATION DETAILS

Name :	UNI DESIGN ELITE JEWELLERY PRIVATE LIMITED (w.e.f. 07.03.2005)
Formerly Known As :	KUDRAT JEWELS PRIVATE LIMITED (w.e.f. 24.08.2004) KUDRAT FINANCIALS PRIVATE LIMITED
Registered Office :	401 and 402, Seepz++, Building No. 2, Andheri (East), Mumbai 400096, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	31.05.1995
Com. Reg. No.:	11-088974
Capital Investment / Paid-up Capital :	Rs.46.030 Millions
CIN No.: [Company Identification No.]	U67120MH1995PTC088974
TAN No.: [Tax Deduction & Collection Account No.]	MUMU04548F
Legal Form :	Private Limited Liability Company
Line of Business :	Exporting of Diamond Studded Gold and Platinum Jewellery
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 940000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

LOCATIONS

Registered Office :	401 and 402, Seepz++, Building No. 2, Andheri (East), Mumbai 400096, Maharashtra, India
Tel. No.:	91-22-28291757/ 67097555/ 66681000
Fax No.:	91-22-67097506
E-Mail :	naresh@unidesign-jewel.com info@unidesign-jewel.com
Website :	www.unidesign-jewel.com

DIRECTORS

(AS ON 30.08.2011)

Name :

Mr. Saunak Jitendra Parikh

Designation :

Director

Address :

171 D, Tahnee Heights, 66 Nepeansea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

22.08.1971

Date of Appointment :

02.07.2001

DIN No.:

00256316

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U70101MH1994PTC083129	PRICELESS PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	21/11/1994	21/11/1994	-	Active	NO
2	U36912MH1994PLC083128	MULTIFACED IMPEX LIMITED	Director	21/11/1994	21/11/1994	18/08/2008	Active	NO
3	U36911MH1989PTC052544	UNI-DESIGN JEWELLERY PRIVATE LIMITED.	Director	27/01/1995	27/01/1995	-	Active	NO
4	U67120MH1995PTC088975	VISUALISE FINANCIALS PRIVATE LIMITED	Director	31/05/1995	31/05/1995	-	Amalgamated	NO
5	U99999MH1999PTC120538	AASHI JEWELS PRIVATE LIMITED	Director	25/06/1999	25/06/1999	-	Amalgamated	NO
6	U36912MH2000PTC126428	UNI-DESIGN JEWELLERY (INDIA) PRIVATE LIMITED	Director	26/06/2000	26/06/2000	-	Active	NO
7	U55200MH1994PTC083135	PANVEL HOLIDAY RESORTS PRIVATE LIMITED	Director	2/9/2000	2/9/2000	-	Active	NO
8	U70101MH1993PTC071863	RIJAY PROPERTIES AND DEVELOPERS PVT LTD	Director	2/7/2001	2/7/2001	-	Amalgamated	NO
9	U67120MH1995PTC088974	UNI DESIGN ELITE JEWELLERY PRIVATE LIMITED	Director	2/7/2001	2/7/2001	-	Active	NO
10	U91900MH1998PTC115374	SKYHIGH TRUSTEE SERVICES PRIVATE LIMITED	Director	8/7/2001	8/7/2001	27/07/2009	Active	NO
11	U65990MH1994PTC082315	ACCREDUT FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	5/1/2004	5/1/2004	-	Active	NO
12	U51398MH2003PTC142596	MAHENDRA BROTHERS DIAMONDS PRIVATE LIMITED	Director	14/06/2007	31/01/2007	-	Amalgamated	NO
13	U51398MH2003PTC193243	RIJAY DIAMOND EXPORTS PRIVATE LIMITED	Director	31/01/2007	31/01/2007	-	Amalgamated	NO
14	U52393MH2007PTC169724	MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED	Whole-time director	5/4/2007	5/4/2007	-	Active	NO
15	U36911KL2008PTC022587	MBMG DIAMONDS PRIVATE LIMITED	Nominee director	2/9/2008	11/6/2008	-	Active	NO
16	U70102MH1993PTC071937	SAUMIL PROPERTIES AND DEVELOPERS PVT.LTD.	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
17	U36912MH1987PTC044898	PARMES DIAMONDS EXPORTS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Active	NO

Name :

Mr. Raj Hiten Parikh

Designation :

Director

Address :

41, Lami Vilas, 87 Nepeansea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

21.12.1981

Date of Appointment :

24.01.2005

DIN No.:

00921828

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U36911MH1989PTC052544	UNI-DESIGN JEWELLERY PRIVATE LIMITED.	Director	8/11/2004	8/11/2004	-	Active	NO
2	U67120MH1995PTC088974	UNI DESIGN ELITE JEWELLERY PRIVATE LIMITED	Director	24/01/2005	24/01/2005	-	Active	NO
3	U51398MH2003PTC142596	MAHENDRA BROTHERS DIAMONDS PRIVATE LIMITED	Director	14/06/2007	31/01/2007	31/08/2009	Amalgamated	NO
4	U51398MH2003PTC193243	RIJAY DIAMOND EXPORTS PRIVATE LIMITED	Director	31/01/2007	31/01/2007	14/09/2009	Amalgamated	NO
5	U52393MH2007PTC169724	MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED	Whole-time director	5/4/2007	5/4/2007	-	Active	NO
6	U36911KL2008PTC022587	MBMG DIAMONDS PRIVATE LIMITED	Nominee director	2/9/2008	2/9/2008	-	Active	NO
7	U36912MH2000PTC126428	UNI-DESIGN JEWELLERY (INDIA) PRIVATE LIMITED	Director	31/08/2009	31/08/2009	-	Active	NO
8	U99999MH1999PTC120538	AASHI JEWELS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
9	U70102MH1993PTC071937	SAUMIL PROPERTIES AND DEVELOPERS PVT.LTD.	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
10	U70101MH1993PTC071863	RIJAY PROPERTIES AND DEVELOPERS PVT LTD	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
11	U70101MH1994PTC083129	PRICELESS PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Active	NO
12	U65990MH1994PTC082315	ACCREDUT FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Active	NO
13	U67120MH1995PTC088975	VISUALISE FINANCIALS PRIVATE LIMITED	Director	29/09/2010	5/9/2009	-	Amalgamated	NO

Name :

Mr. Milan Kavinchandra Parikh

Designation :

Director

Address :

15 A, Next to Khatau Condominium, J. Mehta Marg, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

06.07.1963

Date of Appointment :

31.05.1995

DIN No.:

00256411

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U36912MH1987PTC044898	PARMES DIAMONDS EXPORTS PRIVATE LIMITED	Director	1/4/1994	1/4/1994	-	Active	NO
2	U70101MH1994PTC083129	PRICELESS PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	21/11/1994	21/11/1994	-	Active	NO
3	U36911MH1989PTC052544	UNI-DESIGN JEWELLERY PRIVATE LIMITED.	Director	30/11/1994	30/11/1994	-	Active	NO
4	U67120MH1995PTC088974	UNI DESIGN ELITE JEWELLERY PRIVATE LIMITED	Director	31/05/1995	31/05/1995	-	Active	NO
5	U45200MH1995PTC093046	ASMINA PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	25/09/1995	25/09/1995	-	Active	NO
6	U36912MH1994PLC083128	MULTIFACED IMPEX LIMITED	Director	5/2/1998	5/2/1998	18/08/2008	Active	NO
7	U91900MH1998PTC115374	SKYHIGH TRUSTEE SERVICES PRIVATE LIMITED	Director	17/06/1998	17/06/1998	27/07/2009	Active	NO
8	U99999MH1999PTC120538	AASHI JEWELS PRIVATE LIMITED	Director	25/06/1999	25/06/1999	-	Amalgamated	NO
9	U36912MH2000PTC126428	UNI-DESIGN JEWELLERY (INDIA) PRIVATE LIMITED	Director	11/5/2000	11/5/2000	-	Active	NO
10	U70101MH1993PTC071863	RIJAY PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	2/7/2001	2/7/2001	-	Amalgamated	NO
11	U70102MH1993PTC071937	SAUMIL PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	2/7/2001	2/7/2001	-	Amalgamated	NO
12	U67120MH1995PTC088975	VISUALISE FINANCIALS PRIVATE LIMITED	Director	2/7/2001	2/7/2001	-	Amalgamated	NO
13	U55200MH1994PTC083135	PANVEL HOLIDAY RESORTS PRIVATE LIMITED	Director	2/7/2001	2/7/2001	31/08/2009	Active	NO
14	U65990MH1994PTC082315	ACCREDUT FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	5/1/2004	5/1/2004	-	Active	NO
15	U51398MH2003PTC142596	MAHENDRA BROTHERS DIAMONDS PRIVATE LIMITED	Director	20/01/2004	20/01/2004	-	Amalgamated	NO
16	U51398MH2003PTC193243	RIJAY DIAMOND EXPORTS PRIVATE LIMITED	Director	19/11/2004	19/11/2004	-	Amalgamated	NO
17	U36910MH2004PLC146406	BRIGHTEST CIRCLE JEWELLERY LIMITED	Director	1/4/2005	1/4/2005	28/08/2007	Active	NO
18	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	23/12/2010	28/09/2006	-	Active	NO
19	U52393MH2007PTC169724	MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED	Whole-time director	5/4/2007	5/4/2007	-	Active	NO
20	U36911KL2008PTC022587	MBMG DIAMONDS PRIVATE LIMITED	Nominee director	2/9/2008	2/9/2008	-	Active	NO
21	U74999MH2008NPL185159	INTERNATIONAL WINE AND FOOD SOCIETY	Additional director	11/5/2009	11/5/2009	30/03/2010	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.08.2011)

Names of Shareholders	No. of Shares
Jitendra C Parikh	3332
Milan Kavinchandra Parikh	1667
Saunak Jitendra Parikh	1667
Smaran Enterprises LLP, India	1667
Hiten B Parikh	1667
Uni Design Jewellery Holding LLP, India	980000
Total	990000

Details of 5% Non Cumulative Redeemable Preference Shares

Names of Shareholders	No. of Shares
Sheela R Butala	100
Rasiklal D Gandhi	100
Bishnu J Khatri joint with Hema J Khatri joint with Khuma J Khatri	100
Snehlala S Kothari	100
Suman R Kothari	100
A A Kothari	100
Geeta N Mehta	100
S S Mehta	100
Surekha S Mehta	100
Dolly S Mehta	100
Shreyans Mehta as a Karta of Shreyans V Mehta HUF	100
Rameshchandra D Mehta	100
Sonali S Modi	100
V K Modi	100
Jyotsna S Modi	100
Priyanka N Mody	100
Subhadra M Mody	100
Sanjana S Mody	100
Dinesh C Mehta as a Karta of Dinesh C Mehta HUF	100
S M Parikh	100
Payal K Saraiya	100
Anil C Shah	100
Kelki D Shah	100
Bhanumati S Shah	100
Bhavika D Shah	100
Raj Hiten Parikh	300
Nitaben Chodhari	100
Nalini Sampat	100
Total	3000

Details of Shareholders Holding Redeemable Preference Shares

Names of Shareholders	No. of Shares
Diarough N V	3610000
Total	3610000

(AS ON 30.09.2011)

Equity Shares Break Up

Category	Percentage
Bodies corporate	99.16
Directors or relatives of directors	0.84
Total	100.00

BUSINESS DETAILS

Line of Business :

Exporting of Diamond Studded Gold and Platinum Jewellery

Products :

ITC Code	Product Description
711319.03	Studded Jewellery

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· The Royal Bank of Scotland N V,

74, Sakhar Bhavan, 7^th Floor, Nariman Point, Mumbai 400021, Maharashtra, India

· ICICI Bank

Andheri (East), Mumbai – 400096, Maharashtra, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Pre Shipment Credit from Bank	30.671	--
Post shipment Credit from Bank	45.699	--
(Borrowing from bank secured by way of pledge/ hypothecation of Building., Plant and Machinery, receivable, Inventories and fixed deposits with Bank, Borrowings are further secured by way of collateral securities provided by firms/. Companies under control of the key management personnel and Personal Guarantee of the directors)
Total	76.370	--
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Inter Corporate Loan	0.000	83.410
From Shareholders	14.473	9.737
Total	14.473	93.147

Banking Relations :	--
Auditors :
Name :	Sampat Mehta and Associates Chartered Accountant
Address :	3, Kapur Mansion, 47, Huged Road, Mumbai – 400007, Maharashtra, India
PAN No.:	ACGPB1116Q
Holding Company :	Uni-Design Jewellery Holdings LIP (w.e.f. 25 May 2010)
Enterprises under significant influence/ control of the key management personnel where transaction have taken place	· Mahendra Brothers export Private Limited · Uni- Design Jewellery Private Limited · Uni - Design Jewellery (India) Private Limited
Enterprises under significant influence/ control of the holding entry:	· Uni Design Far east Limited · Uni Design Europe Bvba
Enterprises under control of relative of key management personnel were transaction have taken place	· Uni Creation inc.

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Share	Rs.10/- each	Rs.10.000 Millions
3980000	Redeemable Preference Shares	Rs.10/- each	Rs.39.800 Millions
10000	5% Non-Cumulative Redeemable Preference Shares	Rs.10/- each	Rs.0.100 Million
	Total		Rs.49.900 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
990000	Equity Share (980000 Equity shares are owned by holding entity Uni- Design Jewellery Holdings LLP)	Rs.10/- each	Rs.9.900 Millions
3610000	Redeemable Preference Shares (1752800 preference shares are redeemable at par on or before September 4, 2025, (not exceeding 20 years from the date of issue of shares as may be determined by the Board of directors) (1857200 preference shares are redeemable at par on or before September 8, 2006 (not exceeding 20 years from the date of issue of shares as may be determined by the Board of directors)	Rs.10/- each	Rs.36.100 Millions
3000	5% Non-Cumulative Redeemable Preference Shares (3000 preference shares are redeemable at par on or before February 25, 2007, (not exceeding 20 years from the date of issue of shares as may be determined by the Board of directors)	Rs.10/- each	Rs.0.030 Million
	Total		Rs.46.030 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		46.030	36.228	36.228
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		189.616	89.390	40.970
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		235.646	125.618	77.198
LOAN FUNDS
1] Secured Loans		76.370	0.000	10.848
2] Unsecured Loans		14.473	93.147	30.366
TOTAL BORROWING		90.843	93.147	41.214
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		326.489	218.765	118.412
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		54.696	59.395	64.651
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		1.064	0.952	0.958
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	252.471	161.403	63.389
	Sundry Debtors	269.716	189.254	83.847
	Cash & Bank Balances	1.130	0.800	3.070
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	13.461	5.877	5.510
Total Current Assets		536.778	357.334	155.816
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	261.434	196.025	100.739
	Other Current Liabilities	2.071	1.086	0.985
	Provisions	2.544	1.805	1.289
Total Current Liabilities		266.049	198.916	103.013
Net Current Assets		270.729	158.418	52.803
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		326.489	218.765	118.412

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	934.159	557.279	389.733
		Other Income	0.020	0.116	0.073
		TOTAL (A)	934.179	557.395	389.806
Less	EXPENSES
		Increase/(Decrease) in Finished Goods	(10.765)	(37.162)	7.006
		Administrative Expenses	828.799	526.887	262.520
		TOTAL (B)	818.034	489.725	269.526
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		116.145	67.670	120.280
Less	FINANCIAL EXPENSES (D)		6.983	10.604	11.378
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		109.162	57.066	108.902
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.859	8.483	9.250
	PROFIT BEFORE TAX (E-F) (G)		101.303	48.583	99.652
Less	TAX (H)		1.077	0.164	96.473
	PROFIT AFTER TAX (G-H) (I)		100.226	48.419	3.179
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		89.390	40.971	37.792
	BALANCE CARRIED TO THE B/S		189.616	89.390	40.971
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	902.791	569.334	346.831
	TOTAL EARNINGS		902.791	569.334	916.165
	IMPORTS
		Raw Materials	74.429	35.440	4.440
		Stores & Spares	2.047	23.210	1.901
		Capital Goods	2.288	3.243	1.364
	TOTAL IMPORTS		78.764	61.893	7.705
	Earnings Per Share (Rs.)		118.99	4841.94	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	10.73	8.68	0.81
Net Profit Margin (PBT/Sales)	(%)	10.84	8.71	25.56
Return on Total Assets (PBT/Total Assets}	(%)	17.13	11.65	45.20
Return on Investment (ROI) (PBT/Networth)		0.43	0.38	1.29
Debt Equity Ratio (Total Liability/Networth)		1.51	2.32	1.86
Current Ratio (Current Asset/Current Liability)		2.02	1.79	1.51

LOCAL AGENCY FURTHER INFORMATION

DIAMOND INDUSTRY – INDIA

- From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

- The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

- The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

- Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

- Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

- The diamond jewellery industry in India today may be more than Rs 60000 mil and is rated amongst the fastest growing  in the world. Indi ranks third in the world in domestic diamond consumption.

- Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

- Excerpts from Times of India dated 30^th October 2010 is as under –

DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT

This could be the biggest credibility crisis the Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months ago, they had not repaid these dues. Bankers believe many diamantaires borrowed money during the economic downturn two years ago and diverted funds to businesses like real estate and capital markets. Many of themselves made money from these businesses but their diamond companies have gone sick and declared insolvency.

- Most of the money borrowed from the banks in the name of their diamond business has been diverted in real estate and the share market. The banks are not in a position to seize their properties because in many cases, these were purchased in the name of their relatives and friends.

BACKGROUND:

Subject (formerly known as Kudrat Financials Private Limited) was incorporated on 31^st May 1995. The Company obtained permission from the SEEPZ Special Economic Zone, to establish it's undertaking and export its entire production.

The Company is in business of Exporting of Diamond Studded Gold and Platinum Jewellery.

BUSINESS OPERATIONS AND PERFORMANCE:

During the year the company achieved a sales of Rs. 934.159 millions as against Rs. 557.279 millions in the previous year. The other income stood to Rs. 0.020 million as compared to Rs. 0.116 million in the previous year. After providing depreciation of Rs. 7.859 millions as against Rs.8.483 millions in the previous year and provisions for tax of Rs. 1.132 million as compared to Rs. 0.176 million in the previous year, the company has earned a profit of Rs. 100.226 million as compared to the profit of Rs.48.419 millions in the previous year. The balance carried forward to balance sheet was of Rs.189.616 millions.

CONTINGENT LIABILITIES

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Guarantee given by a Bank on behalf of the company	NA	150.000	0.285
Corporate guarantee given by the company to bankers on behalf of the group companies unde4r the same management	NA	3160.000	0.000

FORM 8

Corporate identity number of the company	U67120MH1995PTC088974
Name of the company	UNI DESIGN ELITE JEWELLERY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	401 and 402, Seepz++, Building No. 2, Andheri (East), Mumbai 400096, Maharashtra, India
This form is for	Creation of charge
Type of charge	· Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	The Royal Bank Of Scotland N V, 74, Sakhar Bhavan, 7^th Floor, Nariman Point, Mumbai 400021, Maharashtra, India Email: reenabang@rediffmail.com
Nature of instrument creating charge	Deed of Hypothecation of Movable Assets
Date of instrument Creating the charge	20.04.2010
Amount secured by the charge	Rs. 150.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Credit Facilities. Interest / Commission - As agreed by and with the Bank from time to time. Terms of repayment As agreed by and with the Bank from time to time. Margin As applicable, if any. Extent and operation of the charge The Bank is having first charge on entire stocks and receivables, both present and future. Other Name of the Bank has been changed from "ABN Amro Bank N.V." to "The Royal Bank of Scotland N.V.", w.e.f. 19 March 2010.
Short particulars of the property charged (Including location of the property)	Hypothecation by way of first charge on entire stocks and receivables, both present and future. (as more described in enclosed agreement).

FIXED ASSETS:

· Factory Building

· Plant and Machinery, Equipment

· Furniture and Fixtures

· Computers

· Software

· Vehicles

· Capital Work in Progress

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 records 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.52.42
UK Pound	1	Rs.81.92
Euro	1	Rs.69.94

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	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
TOTAL		45

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.