MIRA INFORM REPORT

Report Date :

13.04.2012

IDENTIFICATION DETAILS

Name :	KIRAN GEMS PRIVATE LIMITED
Registered Office :	FE-5011, Bharat Diamond Bourse, G Block, Bandra kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.09.2007
Com. Reg. No.:	11-174133
Capital Investment/ Paid-up Capital:	Rs.254.221 Millions
CIN No.: [Company Identification No.]	U36912MH2007PTC174133
CST No.:	27930629112c dt.14.09.2007
TAN No.: [Tax Deduction & Collection Account No.]	MUMK17224E / SRTK02242C
PAN No.: [Permanent Account No.]	AADCK1665M
Legal Form :	Private Limited Liability Company
Line of Business :	Exporter and Importer of Polish Diamond and Diamond Jewellery
No. of Employees:	1600 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 17000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a successor of Kiran Exports, a partnership concern established in 1985. It is a well established and reputed company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Payments are reported to be regular 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

INFORMATION PARTED BY ( General Detail )

Name :	Mr. Saurabh
Designation :	Marketing Manager
Date :	21.03.2012

LOCATIONS

Registered Office :	FE-5011, Bharat Diamond Bourse, “G” Block, Bandra kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-40504444
Mobile No.:	91-9702450410 (Mr. Bhavik)
Fax No.:	91-22-40504455
E-Mail :	Swaroop@Kirangems.com cancerian22515@gmail.com jagannath@kirangems.com ramrajco@vsnl.com info@kirangems.com inquiry@kiranexports.net
Website :	http://www.Kirangems.com
Location :	Owned
Factory 1 :	Plot No. 9, Near Affil Tower, L.H. Road, Varachha, Surat-395006, Gujarat
Tel. No.:	91-261-2554514 / 15
Fax No.:	91-261-2552606
E-Mail :	infosurat@kirangems.com
Area :	2466.82 Square.Meters
Factory 2 :	217/218, Tarabaug Estate, Opposite Jeevan Dhara Hotel, Varachha Road, Surat-395006, Gujarat
Tel. No.:	91-261-2553983/ 84/85 / 2553983
Fax No.:	91-261-2553982 / 2653982
E-Mail :	kirunbvn@yahoo.com

DIRECTORS

As on: 30.09.2011

Name :

Mr. Vallabhbhai Shamjibhai Patel

Designation :

Director

Address :

501, Sea View, 5^th floor, Near Ramkrishna, Mension, West Avenue Road, Santacruz, Mumbai-400054, Maharashtra, India

Date of Birth/Age :

16.12.1957

Qualification :

Non S.S.C

Experience :

More than 36 Years

Date of Appointment :

14.09.2007

DIN No.:

00091715

Other Directorships:

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	U36911MH2003PTC142557	KIRANMANI DIAMONDS PRIVATE LIMITED	Director	07-12-03	07-12-03	-	Active	NO
2	U36911GJ1999PTC035270	KERUL AMIT DIAMOND PRIVATE LIMITED	Director	01-04-05	01-04-05	-	Active	NO
3	U65990MH2006PTC160419	KIRANMANI INVESTMENT AND FINANCE PRIVATE LIMITED (PART IX)	Director	09-03-06	09-03-06	-	Active	NO
4	U36912MH2007PTC174133	KIRAN GEMS PRIVATE LIMITED	Director	14-09-07	14-09-07	-	Active	NO
5	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	29-09-08	29-09-08	23-12-10	Active	NO

Name :

Mr. Babubhai Shamjibhai Patel

Designation :

Director

Address :

A/502, Affil Tower, Lambe Hanuman Road, Varachha Road, Surat – 395 006, Gujarat, India

Date of Birth/Age :

01.12.1959

Qualification :

Non S.S.C

Experience :

More than 26 Years

Date of Appointment :

18.09.2007

DIN No.:

00091766

Other Directorships:

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	U36910GJ2005PTC047143	KIRAN FINE GEMS PRIVATE LIMITED	Director	25-11-05	25-11-05	-	Active	NO
2	U36912MH2007PTC174133	KIRAN GEMS PRIVATE LIMITED	Director	18-09-07	18-09-07	-	Active	NO

Name :

Mr. Mavjibhai Shamjibhai Patel

Designation :

Director

Address :

402, Rajprasar, Indra Narayan Marg, Lokhandwala House, Santacruz West, Mumbai-400054, Maharashtra, India

Date of Birth/Age :

02.03.1964

Qualification :

B.Com

Experience :

More than 22 Years

Date of Appointment :

14.09.2007

DIN No:

00147902

Other Directorships:

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	U36911MH2003PTC142557	KIRANMANI DIAMONDS PRIVATE LIMITED	Director	07-12-03	07-12-03	-	Active	NO
2	U65990MH2006PTC160419	KIRANMANI INVESTMENT AND FINANCE PRIVATE LIMITED (PART IX)	Director	09-03-06	09-03-06	-	Active	NO
3	U36912MH2007PTC174133	KIRAN GEMS PRIVATE LIMITED	Director	14-09-07	14-09-07	-	Active	NO
4	U45201MH2007PTC173573	GRANDIOSE INFRASTRUCTURE VENTURE ENTERPRISES PRIVATE LIMITED	Director	29-07-08	24-07-08	-	Active	NO
5	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	23-12-10	23-12-10	-	Active	NO

Name :

Mr. Labhubhai Shamjibhai Lakhani

Designation :

Director

Address :

7, Street No.1, Yogeshwar Society, Anantwadi, Devubaug, Bhavnagar – 364 001, Gujarat, India

Date of Birth/Age :

04.07.1951

Qualification :

Non S.S.C

Experience :

More than 37 Years

Date of Appointment :

18.09.2007

DIN No:

01807301

Name :

Mr. Dinesh Mavjibhai Lakhani

Designation :

Director

Address :

Dhotre Niwas, Flat No. 8, 3^rd Floor, Tilak Mandir Road, Vile Parle East, Mumbai – 400 057, Maharashtra, India

Date of Birth/Age :

22.01.1978

Qualification :

H.S.C

Experience :

More than 14 Years

Date of Appointment :

18.09.2007

DIN No:

01833349

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Equity Shares
Vallabhbhai Shamjibhai Patel	2563682
Mavjibhai Shamjibhai Patel	2563682
Babubhai Shamjibhai Patel	2100000
Laxmiben Vallabhbhai Patel/ Lakhani	500000
Rasilaben Mavjibhai Patel/ Lakhani	500000
Varshaben Babubhai Patel/ Lakhani	800000
Devkunverben Labubhai Patel/ Lakhani	300000
Labhubhai Shamjibhai Patel/ Lakhani	800000
Kalpesh Vallabhai Patel/ Lakhani	700273
Master Munjal Mavjibhai Patel/ Lakhani	700270
Varun Babubhai Lakhani	621610
Dinesh Mavjibhai Lakhani	525000
Ashishkumar Lakhani	747636
Total	13422153

Names of Shareholders	No. of Preference Shares
Varun Babubhai Lakhani	800000
Ashishkumar Lakhani	400000
Total	1200000

As on: 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Exporter and Importer of Polish Diamond and Diamond Jewellery
Products :	Polished Diamonds Diamond jewelry Shaped Diamonds White Diamond
Products :	Polish Diamond and Diamond Jewellery
Countries :	· Hong Kong · USA · Dubai
Imports :
Products :	Polish Diamond and Diamond Jewellery
Countries :	· Belgium · U.A.E · U.K
Terms :
Selling :	L/C, Cash and Credit (30 days / 60 days)
Purchasing :	L/C, Cash and Credit (30 days / 60 days)

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End User

No. of Employees :

1600 (Approximately)

Bankers :

· State Bank of India, 1^st floor, Majestic Shopping Centre, 144, JSS Marg, Girgaum, Mumbai-400004, Maharashtra, India

· State Bank of Saurashtra, Overseas Branch, 1^st floor, Diamond Queen, Raja Rammohan Roy Road, Girgaum, Mumbai – 400004,

Maharashtra, India

· Andhra Bank, Opera House Branch, 9/15, Mama Parmanand Marg, Opera House, Mumbai-400004, Maharashtra, India

· Union Bank of India, Overseas Branch, Union Bank Bhavan, Ground Floor, 239, Vidhan Bhavan Marg, Mumbai-400021, Maharashtra, India

· State Bank of Hyderabad, Overseas Branch, Ashok Mahal, 1204, Tulloch Marg, Colaba, Mumbai-400039, Maharashtra, India

· State Bank of Bikaner and Jaipur, Overseas Branch, 240/242, Ground Floor, Nirmal Building, Nariman Point, Mumbai-400021, Maharashtra, India

· ABN Amro Bank N.V, 14, Veer Nariman Road, Fort, Mumbai-400023, Maharashtra, India

· Antwerp Diamond Bank N.V, Mumbai Branch, 2^nd Floor, Engineering Centre 9, Mathew Road, Opera House, Mumbai-400004, Maharashtra, India

· The Saraswat Co Operative Bank Limited, Overseas Branch, Kimatrai Building, Maharshi Karve Road, Marine Lines, Mumbai-400002, Maharashtra, India

· ING Vysya Bank Limited, Opera House Branch, Patel Chambers, Ground Floor, Sandhurst Bridge, Opera House, Mumbai-400007, Maharashtra, India

· Standard Chartered Bank, 90 M.G Road, Fort, Mumbai-400001, Maharashtra, India

· Barclays Bank PLC, 601/603, Ceejay House, Shivsagar Estate, Dr. Annie Besent Road, Worli, Mumbai-400018, Maharashtra, India

· ICIIC Bank Limited, 163, H.T. Parekh Marg, Backbay Reclamation, Churchgate, Mumbai-400028, Maharashtra, India

· Bank of India, Opera House Branchs, Hermes House, Mama Paramanand Marg, Mumbai-400004, Maharashtra, India

· Indusind Bank Limited, Indusind House, 425, Dadasaheb Bhadkamkar Marg, Mumbai- 400004, Maharashtra, India

Facilities :

Secured Loans Particular	As on 31.03.2011 (Rs In Millions)	As on 31.03.2010 (Rs In Millions)
Rupee term loans secured	160.708	250.928
Working capital loans secured	7323.447	5872.066
Total	7484.155	6122.994

Unsecured Loans Particular	As on 31.03.2011 (Rs In Millions)	As on 31.03.2010 (Rs In Millions)
Loans directors unsecured	1460.384	1180.965
Total	1460.384	1180.965

Banking Relations :	--
Auditors :
Name :	Ramesh Rajni and Company Chartered Accountants
Address :	450, Lamington Road, Purshotam Building 1st Floor, Opera House, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23669708/ 23669709/ 23618386
Fax No.:	91-22-23631810
E-Mail :	ramrajco@vsnl.com
Associates/Subsidiaries :	Kirnmani Diamond Private Limited (U36911MH2003PTC142557) Kerul Amit Diamond Private Limited (U36911GJ1999PTC035270) Kiran Fine Gems Private Limited (U36910GJ2005PTC047143)

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
13000000	Equity Share	Rs.10/- each	Rs.130.000 Millions
1200000	10% Non-cumulative Convertible Preference Shares	Rs.100/- each	Rs.120.000 Millions
	Total		Rs. 250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12547153	Equity Share	Rs.10/- each	Rs.125.472 Millions
1200000	10% Non-cumulative Convertible Preference Shares	Rs.100/- each	Rs.120.000 Millions
	Total		Rs.245.472 Millions

As on: 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
18000000	Equity Share	Rs.10/- each	Rs.180.000 Millions
1200000	Preference Share	Rs.100/- each	Rs.120.000 Millions
	Total		Rs.300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13422153	Equity Share	Rs.10/- each	Rs.134.221 Millions
1200000	Preference Share	Rs.100/- each	Rs.120.000 Millions
	Total		Rs.254.221 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		245.472	189.222	145.250
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4191.902	2606.222	1829.943
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4437.374	2795.444	1975.193
LOAN FUNDS
1] Secured Loans		7484.155	6122.995	6122.967
2] Unsecured Loans		1460.384	1180.965	910.408
TOTAL BORROWING		8944.539	7303.960	7033.375
DEFERRED TAX LIABILITIES		32.638	23.711	16.778
TOTAL		13414.551	10123.115	9025.346
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1472.420	1261.231	980.055
Capital work-in-progress		44.963	19.341	5.019
INVESTMENT		329.696	25.476	38.971
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5407.301	4523.727	3296.642
	Sundry Debtors	7716.759	5112.244	6525.251
	Cash & Bank Balances	651.372	346.475	250.266
	Other Current Assets	591.278	773.546	146.396
	Loans & Advances	89.787	466.009	323.923
Total Current Assets		14456.497	11222.001	10542.478
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	2815.827	1909.304	1929.100
	Other Current Liabilities	0.870	2.734	4.556
	Provisions	72.640	493.520	608.457
Total Current Liabilities		2889.337	2405.558	2542.113
Net Current Assets		11567.160	8816.443	8000.365
MISCELLANEOUS EXPENSES		0.312	0.624	0.936
TOTAL		13414.551	10123.115	9025.346

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.032011	31.03.2010	31.03.2009
	SALES
		Income	NA	NA	15911.164
		Other Income			26.034
		TOTAL (A)	NA	NA	15937.198
Less	EXPENSES
		Office Expenses	NA	NA
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	NA	NA	14837.939
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	NA	1099.259
Less	FINANCIAL EXPENSES (D)		NA	NA	801.441
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		970.981	580.333	297.818
Less/ Add	DEPRECIATION/ AMORTISATION (F)		151.716	115.792	105.436
	PROFIT BEFORE TAX (E-F) (G)		819.265	464.540	192.382
Less	TAX (H)		227.335	141.961	72.572
	PROFIT AFTER TAX (G-H) (I)		591.930	322.579	119.810
Less	APPROPRIATIONS
		Proposed Dividend	0.000	52.475	0.000
		Dividend Distribution Tax	0.000	8.715	0.000
	Net Surplus Transfer to Reserve and Surplus		591.930	261.389	119.810
	EARNINGS IN FOREIGN CURRENCY
		FOB value of goods exported	NA	13397.977	10901.678
	TOTAL EARNINGS		NA	13397.977	10901.678
	IMPORTS
		Raw Materials	NA	17015.730	11963.753
		Finished Goods	NA	338.3573	190.664
		Capital Goods	NA	92.436	77.551
		Stores and Spares	NA	8.673	2.519
	TOTAL IMPORTS		NA	17455.1963	12234.487
	Earnings Per Share (Rs.)		47.18	25.71	9.55

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	NA	0.75
Net Profit Margin (PBT/Sales)	(%)	NA	NA	1.21
Return on Total Assets (PBT/Total Assets}	(%)	5.14	3.72	1.67
Return on Investment (ROI) (PBT/Networth)		0.18	0.17	0.10
Debt Equity Ratio (Total Liability/Networth)		2.67	3.47	4.85
Current Ratio (Current Asset/Current Liability)		5.00	4.66	4.15

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	Yes
Capital the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

Diamond Industry

- 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.60000.000 millions and is rated amongst the fastest growing in the world. India 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 Rs20000.000 Millions 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.

-

Note:

Registered office of the company has been shifted from 109, Prasad Chambers, Opera House, Mumbai – 400004, Maharashtra, India to the present address w.e.f. 02.09.2011

Operations:

During the year, the Company has recorded Sales and other Operating Income of Rs.20048.485 Millions as compared to the Sales and Other Operating Income of last year of Rs.15911.165 Millions and also earned Other Non Operating Income ofRs.32.536 Millions as compared to that of Rs.26.029 Millions for the corresponding previous year.

The Company has earned net profit to the tune of Rs.322.279 Millions as compared to profit earned of Rs.119.810 Millions in respect of the corresponding previous year, after making provision for taxation and deferred tax adjustment.

Barring unforeseen circumstances, further improvement in sale and profitability is expected in the current year in view of continued efforts being made. Further the Company is taking effective steps to strengthen the profitability and financial soundness of the Company.

Some of the recent awards are:

· Kiran Gems - FIRST in Cut and Polished Diamonds DTC Category - GJEPC 2010

· Kiran Exports BVBA - Highest Importer of Cut and Polished Diamonds in Europe - GJEPC 2010

· Kiran Jewelry Surat - Second in Studded Precious Metal Jewellery - GJEPC 2010

· Kiran Gems - FIRST in Cut and Polished Diamonds DTC Category - GJEPC 2009

· Kiran Exports BVBA - Highest Importer of Cut and Polished Diamonds in Europe - GJEPC 2009

· Kiran Gems - FIRST in Cut and Polished Diamonds DTC Category - GJEPC 2008

· Kiran Exports BVBA - Highest Importer of Cut and Polished Diamonds in Europe - GJEPC 2008

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U36912MH2007PTC174133
Name of the company	KIRAN GEMS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	FE-5011, Bharat Diamond Bourse, “G” Block, Bandra kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
This form is for	Creation of charge
Charge identification (ID) number of the charge to be modified	10069794
Type of charge	Immovable property
Particular of charge holder	ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India E-Mail : anita.taparia@icicibank.com
Nature of instrument creating charge	No instrument was executed but on the 11th day of November, 2011 mortgage was created by Borrower in favour ICICI Bank by deposit of title deeds with ICICI Bank, ICICI Bank acting for itself in respect of immovable properties situated at Block no. 2 and 3 on Plot No. 217 survey no. 777 and Plot No. 218 survey no. 779 of village varachha of Revenue survey No. 28/2, T. P. S No. 4, Surat, Gujarat
Date of instrument Creating the charge	11.11.2011
Amount secured by the charge	Rs.1000.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanction terms Terms of repayment As per sanction terms Margin As per sanction terms Extent and operation of the change An Exclusive mortgage and charge, in a form and manner satisfactory to the Bank on estate in the name of Kiran Gems Private limited situated at Block No. 2 and 3 on Plot No. 217 survey no. 777 and Plot No. 218 survey no. 779 of village varachha of Revenue survey No. 28/2, T. P. S No. 4, Surat, Gujarat
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All that premises constructed on Block No. 2 and 3 on Plot No. 217 of Village varachha of Revenue Survey No. 28/2, T.P.S. No. 4, Final Plot No. 217 and ward Navagam City Survey No. 777 Surat, Gujarat All that premises constructed on Plot No. 218 of Village varachha of Revenue Survey No. 28/2, T.P.S. No. 4, Final Plot No. 218 and ward Navagam City Survey No. 779 Surat, Gujarat

FIXED ASSETS:

· Computer

· Furniture, Fixture and Electric Fittings

· Land

· Office Premises/ Flat

· Factory Building

· Plant, Machinery and Office Equipments

· Wind Mill

· Vehicles

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.51.44
UK Pound	1	Rs.81.96
Euro	1	Rs.67.61

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	Yes
--AFFILIATION	YES/NO	Yes
--LISTED	YES/NO	No
--OTHER MERIT FACTORS	YES/NO	Yes
TOTAL		53

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.