MIRA INFORM REPORT

Report Date :

03.11.2011

IDENTIFICATION DETAILS

Name :	A R GEMS LLC

Registered Office :	Ahmed Mohamed Saleh Building, 2^nd Floor, Office No. 201, Al Dhagaya Street, Gold Souq, Deira, P O Box 57659, Dubai

Country :	United Arab Emirates

Date of Incorporation :	15.09.2010

Com. Reg. No.:	1064821, Dubai

Legal Form :	Limited Liability Company

Line of Business :	Traders of jewellery and precious stones

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	US$ 30,000
Status :	New Business
Payment Behaviour :	Usually Correct
Litigation :	----

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^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

United Arab Emirates

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

SUMMARY

Company Name : A R GEMS LLC

Country of Origin : Dubai, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 15^th September 2010

Commercial Registration Number : 1064821, Dubai

Trade Licence Number : 644370

Chamber Membership Number : 186137

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Total Workforce : 3

Activities : Traders of jewellery and precious stones.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 30,000

COMPANY NAME

A R GEMS LLC

company ADDRESS

Registered & Physical Address

Building : Ahmed Mohamed Saleh Building, 2^nd Floor, Office No. 201

Street : Al Dhagaya Street

Area : Gold Souq, Deira

PO Box : 57659

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 3325657 / 2295893

Facsimile : (971-4) 3325667 / 2295894

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.

KEY PRINCIPALS

Name Nationality Position

· Nilesh Dhirajlal Jogani Belgian Managing Director

· Sonal Ann Jogani Belgian Director

· Ali Salem Rashid Al Akhdar Emirati Director

LEGAL FORM & OWNERS

Date of Establishment : 15^th September 2010

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 1064821, Dubai

Trade Licence No. : 644370

Chamber Member No. : 186137

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Name of Shareholder (s)

· Nilesh Dhirajlal Jogani

· Sonal Ann Jogani

· Ali Salem Rashid Al Akhdar

AFFILIATED COMPANIES

· A R Gems DMCC

Ahmed Mohamed Saleh Building, 2^nd Floor, Office No. 201

Al Dhagaya Street

Gold Souq

PO Box: 57659

Dubai

Tel: (971-4) 3325657 / 2295893

Fax: (971-4) 3325667 / 2295894

OPERATIONS

Activities: Engaged as traders of jewellery and precious stones.

Import Countries: Europe and the Far East.

Subject has a workforce of 3 employees.

FINANCIAL DATA

Subject is a newly formed business and as a result financial information is not currently available.

BANKERS

· Bank of Baroda

PO Box: 3162

Dubai

Tel: (971-4) 5531955

Fax: (971-4) 5536962

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.25
UK Pound	1	Rs.78.73
Euro	1	Rs.67.64

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	----

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.