MIRA INFORM REPORT

Report Date :

14.05.2011

IDENTIFICATION DETAILS

Name :	VK DIMON (HK) LTD.
Registered Office :	Room 707, 7/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon
Country :	Hong Kong
Date of Incorporation :	19.09.2007
Com. Reg. No.:	38431827
Legal Form :	Private Limited Company.
Line of Business :	Importer, Exporter and Wholesaler of Fine jewellery, diamonds, etc.

RATING & COMMENTS

MIRA’s Rating :

Ba

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

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)
Hong Kong	a2	a2

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

Company name

VK DIMON (HK) LTD.

company ADDRESS

Room 707, 7/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

PHONE: 2723 0491, 2723 0097

FAX: 2311 1884

E-MAIL: ogc@omgem.com.hk

MANAGEMENT

Managing Director: Mr. Dharmendra Sahadev Shedge

SUMMARY

Incorporated on: 19th September, 2007.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Diamond Trader.

Employees: 6. (Including associates)

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

company ADDRESS

Registered Head Office:-

Room 707, 7/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

Associated Companies:- (Same address)

Om Gem Creations Ltd., Hong Kong.

V K Dimon (HK) Co., Hong Kong.

BUSINESS REGISTRATION NUMBER

38431827

COMPANY FILE NUMBER

1168721

MANAGEMENT

Managing Director: Mr. Dharmendra Sahadev Shedge

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

SHAREHOLDER

(As per registry dated 19-09-2010)

Name	No. of shares
Dharmendra Sahadev SHEDGE	10,000 =====

DIRECTOR

(As per registry dated 19-09-2010)

Name (Nationality)	Address
Dharmendra Sahadev SHEDGE	Room 707, 7/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 19-09-2010)

Name	Address	Co. No.
Alto Profitto Secretarial Ltd.	Room C, 16/F., Skyline Tower, 18 Tong Mi Road, Mongkok, Kowloon, Hong Kong.	0741913

HISTORY

The subject was incorporated on 19th September, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Fine jewellery, diamonds, etc.

Employees: 6. (Including associates)

Commodities Imported: India, Europe, other Asian countries, etc.

Markets: Hong Kong, Japan, Southeast Asia, Europe, etc.

Terms/Sales: L/C, T/T, etc.

Terms/Buying: L/C, T/T, D/P, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

Profit or Loss: Kept a balance account in 2009.

Condition: Business is improving.

Facilities: Trying to make use of general banking facilities.

Payment: Met trade commitments on time.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, VK Dimon (HK) Ltd. is wholly owned by Mr. Dharmendra Sahadev Shedge who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently. Shedge is the only director of the subject.

The subject is a diamond trader.

The subject has got an associated company Om Gem Creations Ltd. [Om Gem], a Hong Kong-based firm, located at the same operating address. At present, Om Gem has had an affiliated factory in Southern China. Incorporated on 17th September, 2004, Om Gem is jointly managed by Mr. Satish Vithalbhai Goyani and Mr. Patel Shailesh. It seems that Om Gem is a business partner of the subject.

Besides Om Gem, the subject has got another affiliate V K Dimon (HK) Co. located at its operating office. It is likely that V K Dimon (HK) Co. is also owned by D. S. Shedge.

The subject’s commodities are chiefly imported from India, Belgium, other Asian countries, etc. After processing in Hong Kong or China, finished products, cut and polished diamonds are exported or re-exported to Japan, India, South Korea, China, Taiwan and other Asian countries. Business is improving.

The subject’s products include princess diamonds, rose cut diamonds, rose cut heart, rose cut round, rose cut pears, rose cut oval, rose cut marquise, fancy cut and fancy colour diamonds, briollets beads, old mine cut diamonds round brilliant cut diamonds, marquise, taper baguette, pears, oval, heart, emeralad, etc.

As the history of the subject is just about three years and two months in Hong Kong, on the whole, consider it good for normal business engagements in small credit amounts.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.91
UK Pound	1	Rs.73.06
Euro	1	Rs.64.03

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.