MIRA INFORM REPORT

Report Date :

02.05.2011

IDENTIFICATION DETAILS

Name :	PARV BVBA

Registered Office :	30, Hoveniersstraat, Antwerpen 2018

Country :	Belgium

Financials (as on) :	31.12.2009

Date of Incorporation :	01.07.2004

Com. Reg. No.:	866324717

Legal Form :	Private Limited Liability Company

Line of Business :	Wholesaler of diamonds and other precious stones

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
Payment Behaviour :	Unknown
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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Belgium

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

Company Accounts

Period
Accounts End Date	31-12-2009	31-12-2008	31-12-2007
Currency	EUR	EUR	EUR
Weeks	52	52	52
Profit & Loss
Turnover	-	-	-
Total Operating Expenses	-	-	-
Operating Result	26,762	6,026	751
Total Financial Income	-	11	10
Total Financial Expenses	4,048	855	118
Results on Ordinary Operations Before Tax	22,714	5,183	644
Taxation	6,738	2,421	-105
Results on Ordinary Operations After Tax	15,976	2,762	749
Extraordinary Items	0	0	0
Net Result	15,976	2,763	748
Other Information
Dividends	-	-	-
Director Remuneration	-	-	-
Employee Costs	0	0	0
- Wages & Salaries	-	-	-
- Employee Pension Costs	-	-	-
- Social Security Contributions	-	-	-
- Other Employee Costs	-	-	-
Amortization & Depreciation	192	129	89
Balance Sheet
Intangible Fixed Assets	0	0	0
Tangible Fixed Assets	323	170	299
- Land And Buildings	0	0	0
- Plant And Machinery	0	0	0
- Other Tangible Assets	323	170	299
Financial Fixed Assets	1,600	1,600	1,600
Total Fixed Assets	1,923	1,770	1,899
Inventories	2,442,786	1,242,748	315,236
- Raw Materials & Consumables	0	0	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	2,442,786	1,242,748	315,236
Trade Debtors	5,829,725	361,206	204,239
Cash	207,248	9,788	4,565
- Miscellaneous Current Assets	3,320	469	233
Total Current Assets	8,487,502	1,617,768	526,460
Current Liabilities
- Trade Creditors	7,706,660	1,560,320	465,931
- Short Term Group Loans	0	0	0
- Other Short Term Loans	0	0	0
- Miscellaneous Current Liabilities	64,555	32,176	38,149
Total Current Liabilities	7,771,215	1,592,496	504,080
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	0	0	0
- Other Long Term Liabilities	247	0	0
Total Long Term Debts	247	0	0
Shareholders Equity
- Issued Share Capital	693,546	18,600	18,600
- Share Premium Account	0	0	0
- Reserves	24,417	8,441	5,679
- Revaluation Reserve	0	0	0
Total Shareholders Equity	717,963	27,041	24,279

Working Capital	716,287	25,272	22,380
Net Worth	717,963	27,041	24,279
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-	-	-
Return On Capital Employed	3.16	19.17	2.65
Return On Total Assets Employed	0.27	0.32	0.12
Return On Net Assets Employed	3.17	20.51	2.88
Sales / Net Working Capital	-	-	-
Operating Efficiency
Stock Turnover Ratio	-	-	-
Debtor Days	-	-	-
Creditor Days	-	-	-
Short Term Stability
Current Ratio	1.09	1.02	1.04
Liquidity Ratio / Acid Ratio	0.78	0.24	0.42
Current Debt Ratio	10.82	58.89	20.76
Long Term Stability
Gearing	0	0	0
Equity In Percentage	0.08	0.02	0.05
Total Debt Ratio	0	0	0

Company Court Data

Protested Bills
Drawee Name	--
Drawee Address	--
Bill Amount
Bill Currency	--
Maturity of Bill (month)
Name of Drawer	--
City of Drawer	--
NSSO Details
Name of Defendant	--
Legal Form of Defendant	--
Date of Summons
Labour Court	--
Directors
Company Director
Full Name	MANSUKHLAL VALLABHDA PATEL
Birth Date	1958-06-15
Position Description	Manager
Address	80 INGENIEUR HAESAERTSLAAN WILRIJK (ANTW.)
Country	--
Postal Code	2610
Birth Date

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.38
UK Pound	1	Rs.73.88
Euro	1	Rs.65.83

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.

Company Summary
company details
Company Number	866324717
Name	PARV BVBA
Address	30, HOVENIERSSTRAAT, ANTWERPEN
Post Code	2018
Telephone Number	032399325
Fax Number	032399325
Establishment Date	01-07-2004
Company Status	ACTIVE
Company Type	Private limited liability company
Number of Employees	0
Activity Description	Wholesale of diamonds and other precious stones
Activity Code	46761
Liable For Vat	yes
Currency	Euro (€)
Latest Branch Details
Street	ALBERT GRISARSTRAAT
House Number	3
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	0
Trade Registered Entry Date	01-12-2004
Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	--
Latest Event
Serial Number	49630
Event Description	Transfer of registered office
Industry Comparison
Industry Average Credit Rating	61.75
Industry Average Credit Limit (€)	125,316
Payment Expectations
Payment Expectations
Payment Expectation Days
Day Sales Outstanding
Industry Comparison
Activity Code	4676
Activity Description	Wholesale of other intermediate products
Industry Average Day Sales Outstanding	123.77
Industry Average Payment Expectation Days	134.05
Industry Quartile Analysis
Payment Expectations - Lower	40.44
Payment Expectations - Median	88.67
Payment Expectations - Upper	161.36

Day Sales Outstanding - Lower	31.05
Day Sales Outstanding - Median	73.85
Day Sales Outstanding - Upper	156.45
Company Shareholder Holding

Company Information

Company Accounts

Company Court Data

Unit