MIRA INFORM REPORT

Report Date :

07.12.2012

IDENTIFICATION DETAILS

Name :	SHEETAL MANUFACTURING COMPANY PRIVATE LIMITED
Registered Office :	104, Radhe Vallabh Co-operative HSG. Society Limited, French Bridge, Opera House, Mumbai – 400004, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.05.2008
Com. Reg. No.:	11-182179
Capital Investment / Paid-up Capital :	Rs.412.037 Millions
CIN No.: [Company Identification No.]	U51398MH2008PTC182179
PAN No.: [Permanent Account No.]	AAMCS1948J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Diamonds
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 18000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. It has achieved better growth in its sales turnover during 2011. Financial position of the company appears to be good. Trade relations are reported to be decent. Business is active. Payment terms are usually correct and as per commitment. 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	104, Radhe Vallabh Co-oprative HSG. Society Limited, French Bridge, Opera House, Mumbai – 400004, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	shmfg@yahoo.com
Factory :	Plot No.13, Sheetal Avenue, Near Bhavani Circle, A K Road, Surat - 395 008, Gujarat, India

DIRECTORS

As on 301.09.2011

Name :

Mr. Govindbhai Laljibhai Kakadia

Designation :

Director

Address :

71, Menaka, Tahnee Heights CHS Limited, Nepeansea Road, Mumbai – 400006

Date of Birth/Age :

03.06.1958

Date of Appointment :

14.05.2008

DIN No.:

00252050

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36911MH1995PTC086133	KIAH LIFE STYLE PRIVATE LIMITED	Director	07-03-95	07-03-95	27-03-09	Active	NO
2	U24139MH1994PTC084196	JAYPREM GEMS (INDIA) PRIVATE LIMITED (CN)	Director	11-02-04	11-02-04	-	Active	NO
3	U91110GJ2000NPL039065	GUJARAT HIRA BOURSE	Director	09-03-04	09-03-04	-	Active	NO
4	U36910MH2004PTC147793	SHEETAL GOLDEN WORKS (INDIA) PRIVATE LIMITED	Director	30-07-04	30-07-04	-	Active	NO
5	U45400MH2007PTC170365	ROYAL ROSE REAL ESTATE PRIVATE LIMITED	Director	01-04-08	01-04-08	-	Active	NO
6	U51398MH2008PTC182179	SHEETAL MANUFACTURING COMPANY PRIVATE LIMITED	Director	14-05-08	14-05-08	-	Active	NO
7	U72900MH2007PTC172559	SHEETAL SOFTWARE TECHNOLOGIES PRIVATE LIMITED	Director	10-07-08	10-07-08	-	Active	NO
8	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	23-12-10	23-12-10	-	Active	NO

Name :

Mr. Hirabhai Kanjibhai Kakadia

Designation :

Director

Address :

92/B, Diamond Court,, 40, Nepen Sea Road,, Mumbai – 400006

Date of Birth/Age :

24.08.1970

Date of Appointment :

14.05.2008

DIN No.:

02017417

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U71290WB1995PLC073048	FIDELITY INVESTMENTS LIMITED	Whole-time director	27-09-04	27-09-04	27-03-09	Active	NO
2	U51398MH2008PTC182179	SHEETAL MANUFACTURING COMPANY PRIVATE LIMITED	Director	14-05-08	14-05-08	-	Active	NO

Name :

Mr. Vallabhbhai Laljibhai Kakadia

Designation :

Director

Address :

504, Indraprasth Apartment, Near Indoor Stadium, Ghod Dod Road, Surat – 395007, Gujarat, India

Date of Birth/Age :

01/06/1959

Date of Appointment :

14.05.2008

DIN No.:

00027462

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36911MH1995PTC086133	KIAH LIFE STYLE PRIVATE LIMITED	Director	07-03-95	07-03-95	27-03-09	Active	NO
2	U24139MH1994PTC084196	JAYPREM GEMS (INDIA) PRIVATE LIMITED (CN)	Director	11-02-04	11-02-04	-	Active	NO
3	U36910GJ2005PTC045812	BROWN DIAMONDS MANUFACTRING PRIVATE LIMITED	Director	21-05-05	21-05-05	-	Active	NO
4	U51398MH2008PTC182179	SHEETAL MANUFACTURING COMPANY PRIVATE LIMITED	Director	14-05-08	14-05-08	-	Active	NO

Name :

Mr. Ravjibhai Laljibhai Kakadia

Designation :

Director

Address :

Plot No.10, Siddhnath Nagar Co-operative Housing Society, Behind, Affil Tower, Lambe Hanuman Road, Surat – 395006, Gujarat, India

Date of Birth/Age :

14.08.1964

Date of Appointment :

14.05.2008

DIN No.:

00037184

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36911MH1995PTC086133	KIAH LIFE STYLE PRIVATE LIMITED	Director	07-03-95	07-03-95	27-03-09	Active	NO
2	U24139MH1994PTC084196	JAYPREM GEMS (INDIA) PRIVATE LIMITED (CN)	Director	11-02-04	11-02-04	-	Active	NO
3	U36910MH2004PTC144661	STAR GOLD PRIVATE LIMITED	Director	23-02-04	23-02-04	27-03-09	Active	NO
4	U36910GJ2005PTC045813	RADHIKA DIAMONDS MANUFACTURING PRIVATE LIMITED	Director	21-05-05	21-05-05	-	Active	NO
5	U45201MH2007PTC169214	RIVER ROSE DEVELOPERS PRIVATE LIMITED	Director	27-03-07	27-03-07	-	Active	NO
6	U45400MH2007PTC170365	ROYAL ROSE REAL ESTATE PRIVATE LIMITED	Director	27-04-07	27-04-07	-	Active	NO
7	U72900MH2007PTC172559	SHEETAL SOFTWARE TECHNOLOGIES PRIVATE LIMITED	Director	23-07-07	23-07-07	-	Active	NO
8	U51398MH2008PTC182179	SHEETAL MANUFACTURING COMPANY PRIVATE LIMITED	Director	14-05-08	14-05-08	-	Active	NO

Name :

Mr. Ajay Govindbhai Kakadia

Designation :

Director

Address :

71, Menaka, Tahnee Heights Co-operative Housing Society, Nepeansea Road, Malabar Hill, Mumbai – 400026

Date of Birth/Age :

11/09/1979

Date of Appointment :

14.05.2008

DIN No.:

01168559

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36911MH1995PTC086133	KIAH LIFE STYLE PRIVATE LIMITED	Managing director	01-04-04	01-04-04	27-03-09	Active	NO
2	U45201MH2007PTC169214	RIVER ROSE DEVELOPERS PRIVATE LIMITED	Director	27-03-07	27-03-07	-	Active	NO
3	U45400MH2007PTC170075	A. KHENI DEVELOPER PRIVATE LIMITED	Director	18-04-07	18-04-07	13-01-10	Active	NO
4	U45400MH2007PTC170074	SAAHIR BUILDERS PRIVATE LIMITED	Director	18-04-07	18-04-07	13-01-10	Active	NO
5	U45400MH2007PTC170365	ROYAL ROSE REAL ESTATE PRIVATE LIMITED	Director	27-04-07	27-04-07	-	Active	NO
6	U72900MH2007PTC172559	SHEETAL SOFTWARE TECHNOLOGIES PRIVATE LIMITED	Director	23-07-07	23-07-07	-	Active	NO
7	U51398MH2008PTC182179	SHEETAL MANUFACTURING COMPANY PRIVATE LIMITED	Director	14-05-08	14-05-08	-	Active	NO
8	U36910MH2004PTC147793	SHEETAL GOLDEN WORKS (INDIA) PRIVATE LIMITED	Whole-time director	27-03-09	27-03-09	-	Active	NO

Name :

Mr. Bharatkumar Vallabhbhai Kakadia

Designation :

Director

Address :

504, Indralok Society, Ghod Dod Road,, Surat – 395007, Gujarat, India

Date of Birth/Age :

19.01.1985

Date of Appointment :

14.05.2008

DIN No.:

01177028

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45201MH2007PTC169214	RIVER ROSE DEVELOPERS PRIVATE LIMITED	Director	27-03-07	27-03-07	-	Active	NO
2	U45400MH2007PTC170365	ROYAL ROSE REAL ESTATE PRIVATE LIMITED	Director	27-04-07	27-04-07	-	Active	NO
3	U72900MH2007PTC172559	SHEETAL SOFTWARE TECHNOLOGIES PRIVATE LIMITED	Director	23-07-07	23-07-07	-	Active	NO
4	U51398MH2008PTC182179	SHEETAL MANUFACTURING COMPANY PRIVATE LIMITED	Director	14-05-08	14-05-08	-	Active	NO
5	U36910MH2004PTC147793	SHEETAL GOLDEN WORKS (INDIA) PRIVATE LIMITED	Whole-time director	27-03-09	27-03-09	-	Active	NO

Name :

Mr. Chirag Ravjibhai Kakadia

Designation :

Director

Address :

10 Sidhdhrth Nagar Society, L.H. Road, Surat – 395006, Gujarat, India

Date of Birth/Age :

15.07.1990

Date of Appointment :

15.07.2008

DIN No.:

02749772

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 301.09.2011

Names of Shareholders	No. of Shares
Govind Laljibhai Kakadia	6870371
Hirabhai Kanjibhai Kakadia	1648149
Vallabhbhai Laljibhbhai Kakadia	6870371
Ravjibhai Laljibhai Kakadia	6870371
Ajay Govindbhai Kakadia	4944444
Bharatkumar Vallabhbhai Kakadia	4944444
Chirag Ravjibhai Kakadia	4944444
Muktaben G. Kakadia	1370370
Shardaben V. Kakadia	1370370
Kantaben R. kakadia	1370370
Total	41203704

As on 301.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Diamonds

Products :

Description of product or services	ITC number of product
Diamonds	51398
Diamond – Sorted	710210.01
Diamond – Unsorted	710210.02
Diamonds other than industrial	710239.01

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Actual Production
Cut and Polished Diamonds	Carats 703602.06

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Diamond Branch, 144, J.S.S. Road, Majestic Shopping Centre, Girgaum, Mumbai - 400004, Maharashtra, India

· Andhra Bank

· Corporation Bank

· HDFC Bank Limited

· ICICI Bank

· IDBI Bank

· Standard Chartered Bank

· UBI

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Working capital loans secured	3498.154	3329.118
Total	3498.154	3329.118
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Fixed deposits unsecured	1063.003	1723.181
Total	1063.003	1723.181

Banking Relations :	--
Financial Institutions :	SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India
Auditors :
Name :	Pruthviraj Shah and Company Chartered Accountants
Address :	202 Radha Vallabh Co Operative HSG Society, French Bridge, Opera House, Mumbai – 400004, Maharashtra, India
PAN.:	AAJPS5797B
Subsidiaries :	· Sheetal Golden Works (India) Private Limited CIN No.: U36910MH2004PTC147793 · Sheetal Urope, PLLC

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000000	Equity Shares	Rs.10/- each	Rs.1000.000 Millions
100,000,000	Preference Shares	Rs.10/- each	Rs.1000.000 Millions
	Total		Rs.2000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
41203704	Equity Shares	Rs.10/- each	Rs.412.037 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		412.037	1250.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4318.997	2463.651	0.000
4] (Accumulated Losses)		0.000	0.000	(0.034)
NETWORTH		4731.034	3713.651	0.966
LOAN FUNDS
1] Secured Loans		3498.154	3329.118	0.000
2] Unsecured Loans		1063.003	1723.181	9.469
TOTAL BORROWING		4561.157	5052.299	9.469
DEFERRED TAX LIABILITIES		3.636	(6.117)	0.000
TOTAL		9295.827	8759.833	10.435
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2593.148	2434.297	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.100	0.100	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2498.401	3512.319	0.000
	Sundry Debtors	5264.726	4368.114	0.000
	Cash & Bank Balances	264.717	147.402	1.610
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	98.998	170.972	0.000
Total Current Assets		8126.842	8198.807	1.610
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1391.721	1854.593	0.000
	Other Current Liabilities	5.699	11.734	0.000
	Provisions	32.158	14.131	0.034
Total Current Liabilities		1429.578	1880.458	0.034
Net Current Assets		6697.264	6318.349	1.576
MISCELLANEOUS EXPENSES		5.315	7.087	8.859
TOTAL		9295.827	8759.833	10.435

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		7686.201	0.000
		Other Income
		TOTAL		7686.201	0.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses		7500.020	0.034
		Advertising Expenses
		TOTAL		7500.020	0.034
	PROFIT / (LOSS) BEFORE TAX			186.181	(0.034)
Less	TAX		NA	62.296	0.000
	PROFIT / (LOSS) AFTER TAX			123.885	(0.034)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings		888.085	NA
	TOTAL EARNINGS			888.085	NA
	IMPORTS
		Raw Materials		8740.622	NA
		Capital Goods		4.726	NA
	TOTAL IMPORTS			8745.348	NA
	Earnings / (Loss) Per Share (Rs.)			(496)	(34.00)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	1.61	0.00
Return on Total Assets (PBT/Total Assets}	(%)	NA	1750.96	(2.11)
Return on Investment (ROI) (PBT/Networth)		NA	0.05	(0.04)
Debt Equity Ratio (Total Liability/Networth)		1.27	1.87	9.84
Current Ratio (Current Asset/Current Liability)		5.68	4.36	47.35

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

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. 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 Rs 20000.000 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:

The registered office of the company has been shifted from 1001, Prasad Chambers, Opera House, Mumbai – 400004, Maharashtra, India to present address w.e.f.01.10.2012

CONTINGENT LIABILITIES NOT PROVIDED FOR: (As on 31.03.2010)

Documentary bills submitted to banks for discounting / advances amounting to Rs. 976.362 Millions (P.Y. Rs. Nil)

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U51398MH2008PTC182179
Name of the company	SHEETAL MANUFACTURING COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	104, Radhe Vallabh Co-operative HSG. Society Limited, French Bridge, Opera House, Mumbai – 400004, Maharashtra, India shmfg@rediffmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10370835
Type of charge	· Immovable property · Any interest in immovable property · Book debts · Movable property (not being pledge) · Floating charge · Others (Current Assets)
Particular of charge holder	SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India corporate@sbicaptrustee.com
Nature of instrument creating charge	Supplemental deed of mortgage cum charge dated 13.08.2012 executed by Company. in favour of SBICAP Trustee Company Limited. acting as Security Trustee for and on behalf of the Working Capital Lenders for incorporating certain clauses in the Principal Deed of Mortgage Cum Charge.
Date of instrument Creating the charge	13.08.2012
Amount secured by the charge	Rs.6900.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As stipulated by the member banks from time to time. Terms of Repayment As per the sanction terms and Principal deed of Mortgage cum Charge. Margin As per the sanction terms and Principal deed of Mortgage cum Charge. Extent and Operation of the charge All present and future book debts, outstandings moneys receivable, claims and bills which are now due and owing or which may at any time during the continuance of this security become due and owing to the Borrower/Mortgagor in the course of its business by any person, firm, company or body corporate or by the Government Department or office or any Municipal or Local or Public or semi Government body or authority or anybody. Others Loan is given by Consortium comprising of the Consortium Members (as defined in Principal deed of Mortgage cum charge) attached herewith. Unit Nos.CC3100, CC3111, CC3112, CW3200, CC3121 and CC3122 on the land bearing serial C-28 situated at G-Block, Bandra Kurla Complex, lying in CTS No.4207, Village Kolekalyan, Taluka - Andheri, Registration District of Mumbai Suburban and the said Charge shall rank pari-passu in all respect with the existing Charge of the Company
Short particulars of the property or asset(s) charged (including complete address and location of the property)	(a) All present and future book debts, outstandings moneys receivable, claims and bills which are now due and owing or which may at any time during the continuance of this security become due and owing to the Borrower/Mortgagor in the course of its business by any person, firm, company or body corporate or by the Government Department or office or any Municipal or Local or Public or semi Government body or authority or anybody corporate or undertaking or project whatever in the public sector including all the monies. (b) All present and future stock in trade consisting of raw materials, finished goods, semi finished goods, goods in process of manufacturing including stocks of rough diamonds/gold/platinum/ semiprecious stones etc. and other merchandise whatsoever, being movable properties, now or at any time after this Memorandum whether belonging to the Borrower / Martgagor or at the Borrower / Mortgagors disposal or stored or be stored or brought in to upon or in course of transit to any of the Borrower/Mortgagors factory or premises or at any other place in the Borrower / Mortgagors possession or occupation or at any other place. Unit Nos.CC3100 admeasuring 1448 sq.ft. carpet area equivalent to 2069 sq.ft. built up area in C tower, central wing, 3rs floor and 6 car parking space bearing No.B-188, B-189, B-190, B-191, B-192, B-193 of Bharat Diamond bourse Complex on the land bearing serial C-28 at G-Block Bandra Kurla Complex, lying in CTS No.4207, Village Kolekalyan, Taluka Andheri , Registration District of Mumbai Subu Unit No.CC3111 admeasuring 412 sq.ft. carpet area equivalent to 588 sq,ft. built up area in C tower, central wing, 3rs floor, of Bharat Diamond bourse Complex on the land bearing serial C-28 at G-Bloc
Particulars of the present modification	By, this modification, the Principal Deed of Mortgage cum Charge dt.09.07.2012 shall be enforceable subject to the terms and conditions contained in the Lease Deed executed between MMRDA and Bharat Diamond Bourse. All other terms and conditions of Principal Deed of Mortgage shall be remain unchanged.

FIXED ASSETS

· Building Premises

· Plant and Machinery

· Vehicles

· Furniture Fixtures

· Computers

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 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.54.47
UK Pound	1	Rs.87.63
Euro	1	Rs.71.12

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		51

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.