MIRA INFORM REPORT

Report Date :

24.12.2012

IDENTIFICATION DETAILS

Name :	EMERALD KALAMA CHEMICAL, B.V.

Registered Office :	Mijnweg 1 6167AC Geleen

Country :	Netherlands

Financials (as on) :	31.12.2010

Date of Incorporation :	19.06.2008

Com. Reg. No.:	34304785

Legal Form :	Limited Company

Line of Business :	Financial holding

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory

Payment Behaviour :	No Complaints

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^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Netherlands

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

Netherlands - ECONOMIC OVERVIEW

The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 3.8% of GDP.

Source : CIA

CONTACTINFORMATION

Company name	Emerald Kalama Chemical, B.V.

Tradename	Emerald Kalama Chemical, B.V.

Address	Mijnweg 1 6167AC Geleen Netherlands

Mail address	Postbus 601 6160AP Geleen Netherlands

Telephone number	0888880503
Telefax number	0888880519
E-mail address	Unknown
Website	Unknown

VAT number / RSIN	819596188

Branch(es)	Emerald Kalama Chemical, B.V. (34304785.0002) Montrealweg 15 harbour 4322 3197KH BOTLEK ROTTERDAM

COMPANY STRUCTURE

Shareholder	Emerald Kalama Activities of holding companies Cooperatief, U.A.
	Mijnweg 1
	6167AC GELEEN
	Netherlands
	KvK: 50316036
	Active since: 02-07-2010
	Percentage: 100.00%

Bank The Royal Bank of Scotland N.V

MANAGEMENT

Management H.M.L. Degens

Hubert Marie Lambert

Authorization: Jointly authorized

Position: Manager

Date appointed: 27-01-2012

Date of birth: 24-04-1952

E.T. Gotch

Edward Thomas

Authorization: Jointly authorized

Position: Manager

Date appointed: 11-05-2011

Date of birth: 11-11-1972

C. Wagner

Candace

Authorization: Jointly authorized

Position: Manager

Date appointed: 10-12-2010

Date of birth: 18-06-1956

H.G.M. Claassen

Hubertus Gerardus Maria

2243 EZ

Authorization: Limited authorization (max: € 175.000)

Position: Proxy

Date appointed: 01-04-2011

Date of birth: 03-09-1950

Other directorships:

- Manager: DSM Special Products B.V. - BOTLEK ROTTERDAM (KvK: 24108515)

H.M.L. Degens

Hubert Marie Lambert

Authorization: Fully authorized

Position: Proxy

Date appointed: 01-04-2011

Date of birth: 24-04-1952

G.M.D.M. Dikschei

Gerardus Majella Dominik Maria

Authorization: Limited authorization

Position: Proxy

Date appointed: 01-04-2011

Date of birth: 25-11-1965

O.S. Schoordijk

Oscar Sandro

2331 CT

Authorization: Limited authorization (max: € 100.000)

Position: Proxy

Date appointed: 01-04-2011

Date of birth: 20-02-1974

Other directorships:

- Proxy: DSM Special Products B.V. - BOTLEK ROTTERDAM (KvK: 24108515)

F.A.J. Smithuysen

Frans Albert Jan

Authorization: Limited authorization (max: € 500.000)

Position: Proxy

Date appointed: 01-04-2011

Date of birth: 22-05-1951

R.H.E.F. Smits

Roelof Henricus Elisabeth Fran

Authorization: Limited authorization (max: € 500.000)

Position: Proxy

Date appointed: 01-11-2011

Date of birth: 23-06-1983

H.D. Terhenne

Hans Dick

Authorization: Limited authorization (max: € 175.000)

Position: Proxy

Date appointed: 01-04-2011

Date of birth: 29-02-1964

R.J.W. van Tilborg

Robertus Johannes Wilhelmus

Authorization: Limited authorization (max: € 100.000)

Position: Proxy

Date appointed: 01-04-2011

Date of birth: 16-01-1965

PAYMENT INFORMATION

Payment experiences Payments are regular, no complaints are known

FINANCIAL INFORMATION

Publication financial statement Annual accounts 2010 are published on 30-07-2012

Annual accounts 2009 are published on 23-07-2010

Annual accounts 2008 are published on 08-10-2009

Type of publication Corporate

Publication Publication according to obligations by law

CORE FIGURES
BOOKYEAR	2010	2009	2008
Quick ratio	0,00	0,00	0,15
Current ratio	0,00	0,00	0,15
Nett workingcapital / Balance total	0,00	1,00	-5,64
Capital and reserves / Balance total	0,01	1,00	-5,64
Capital and reserves / Fixed assets	0,01	-	-
Solvency	0,01	0,00	-0,85
Nett workingcapital	24.816	136	-3.467
Capital and reserves	422.284	136	-3.467
Change capital and reserves	310.402,94%	103,92%
change short term liabilities	0,00%	-100,00%

untitled

Annual accounts The company is obligated to publish its annual accounts

Last annual accounts 2010

Tendency Upward

Capital and reserves 2010 422.284

Total debt 2010 56.390.161

Current ratio 2010 0,00

Quick ratio 2010 0,00

Nett workingcapital 2010 24.816

Profitability Positive

Solvency Own resources are worn out

Liquidity Own resources are worn out

BALANCE SHEET

BOOKYEAR	2010	2009	2008
End of bookyear	31-12-2010	31-12-2009	31-12-2008
Financial assets	56.787.629
Fixed assets	56.787.629

Accounts receivable	24.816	117
Liquid assets		19	615
Current assets	24.816	136	615
Total assets	56.812.445	136	615

Capital and reserves	422.284	136	-3.467
Long term liabilities	56.390.161
Other short term debts		0
Total short term debt		0	4.082
Total debt	56.390.161	0	4.082
Total Liabilities	56.812.445	136	615

History

Merger and demerger

Op 01-03-2011 merger taken place. New registration: Emerald Kalama Chemical, B.V.,

34304785 Ceased registration: DSM Special Products B.V., 24108515.

Op 18-01-2011 merger proposal filed. New registration: Emerald Kalama Chemical, B.V.,

34304785 Ceased registration: DSM Special Products B.V., 24108515.

Management

Per 01-09-2012 is Proxy Daniël Vonken out of office.

Per 30-05-2012 is Proxy Godfried Walburga Theodoor Maria Opfergelt out of office.

Per 27-01-2012 manager Hubert Marie Lambert Degens appointed.

Per 26-01-2012 manager Brian Alexander Denison out of office.

Per 26-01-2012 is Proxy Brian Alexander Denison out of office.

Per 01-11-2011 is Proxy Roelof Henricus Elisabeth Franciscus Smits appointed.

Per 11-05-2011 manager Edward Thomas Gotch appointed.

Per 01-04-2011 is Proxy Oscar Sandro Schoordijk appointed.

Per 01-04-2011 is Proxy Frans Albert Jan Smithuysen appointed.

Per 01-04-2011 is Proxy Hubert Marie Lambert Degens appointed.

Per 01-04-2011 is Proxy Hubertus Gerardus Maria Claassen appointed.

Per 01-04-2011 is Proxy Gerardus Majella Dominik Maria Dikschei appointed.

Per 01-04-2011 is Proxy Hans Dick Terhenne appointed.

Per 01-04-2011 is Proxy Godfried Walburga Theodoor Maria Opfergelt appointed.

Per 01-04-2011 is Proxy Robertus Johannes Wilhelmus van Tilborg appointed.

Per 01-04-2011 is Proxy Daniël Vonken appointed.

Per 02-03-2011 manager Brian Alexander Denison appointed.

Per 02-03-2011 is Proxy Brian Alexander Denison appointed.

Per 02-03-2011 manager Wolbert Hinrik Kamphuijs out of office.

Per 02-03-2011 manager Jacob Cornelis Willem van Burg out of office.

Per 17-12-2010 manager Sun Capital Partners Netherlands Management LLC Ver. Staten van Amerika out of office.

Per 10-12-2010 manager Candace Wagner appointed.

Per 02-07-2010 manager 33126512 Equity Trust Co. N.V. out of office.

Per 02-07-2010 manager Sun Capital Partners Netherlands Management LLC Ver.

Staten van Amerika appointed.

Per 02-07-2010 manager Wolbert Hinrik Kamphuijs appointed.

Per 02-07-2010 manager Jacob Cornelis Willem van Burg appointed.

Per 02-06-2010 manager Alessandro Umberto Beluzzo out of office.

Modifications

Per 2-3-2011 is the responsibility of manager Candace Wagner changed

Company structure

Emerald Kalama Chemical, B.V. (34304785)

geleen

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.07
UK Pound	1	Rs.89.54
Euro	1	Rs.72.77

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

Report Date :

24.12.2012

el. No.:	+32032330556
Fax No.:	+32032312461

IDENTIFICATION DETAILS

Name :	GEMGOL BVBA

Registered Office :	HOVENIERSSTRAAT 2 BUS 431 ANTWERPEN 2018

Country :	Belgium

Financials (as on) :	31.12.2011

Date of Incorporation :	02.02.1988

Com. Reg. No.:	433019183

Legal Form :	Private Limited Company (BL/LX)

LINE OF BUSINESS :	WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES

No. of Employees :	Not Available

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 :	Slow but correct
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^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Belgium

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

BELGIUM - ECONOMIC OVERVIEW

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP grew by 2.0%, the unemployment rate decreased slightly to 7.7% from 8.3% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 4.2% in 2011. Despite the relative improvement in Belgium's budget deficit, public debt hovers near 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian arm of a Franco-Belgian bank. An ageing population and rising social expenditures are mid- to long-term challenges to public finances.

Source : CIA

Company name and address

Top of Form

Business number	433019183	Company name	GEMGOL BVBA
		Telephone number	032317646
Address	HOVENIERSSTRAAT 2 BUS 431 ANTWERPEN	Fax number	032330556
Post code	2018	Number of staff	0
Date of establishment	02/02/1988

Accounts & ratios

Date of latest accounts	Turnover	Profit Before Tax	Net worth
31/12/2011	2,190,284	6,810	449,632
31/12/2010	2,828,860	-10,730	446,334
31/12/2009	1,640,705	-24,381	457,575

Accounts & ratios

Date of latest accounts	Balance Total	Investments	Capital	Cash Flow	Number of Employees
31/12/2011	945,742	50	18,600	28,133	0
31/12/2010	1,165,016	50	18,600	29,262	0
31/12/2009	1,161,822	50	18,600	19,657	0

Trends

Profitability
Liquidity
Net worth

Payment expectations

Past payments		Payment expectation days	23.49
Industry average payment expectation days	177.52	Industry average day sales outstanding	110.56
Day sales outstanding	16.09

Court data summary

Bankruptcy details
Court action type	no
Protested bills
Bill amount	-
NSSO details
Date of summons	-

Business number	433019183	Company name	GEMGOL BVBA
Fax number	032330556	Date founded	02/02/1988
Company status	active	Company type	Private Limited Company (BL/LX)
Currency	Euro (€)	Date of latest accounts	31/12/2011
Activity code	46761	liable for VAT	yes
Activity description	Wholesale of diamonds and other precious stones	VAT Number	BE.0433.019.183
Belgian Bullettin of Acts Publications	moniteur belge

Joint Industrial Committee (JIC)

Export accounts to CSV file

comparison mode

average

median

Profit & loss

Annual accounts	31-12-2011	%	31-12-2010	%	31-12-2009	Industry average 2011	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	2,190,284	-22.57	2,828,860	72.42	1,640,705	57,477,666	-96.19
Total operating expenses	2,150,396	-21.73	2,747,481	65.91	1,656,029	56,751,982	-96.21
Operating result	39,888	-50.99	81,379	531	-15,324	270,247	-85.24
Total financial income	9,570	-87.31	75,412	63.74	46,055	171,480	-94.42
Total financial expenses	42,648	-74.54	167,521	203	55,113	331,102	-87.12
Results on ordinary operations before taxation	6,810	63.47	-10,730	44.01	-24,381	93,138	-92.69
Taxation	2,327	355	511	-82.99	3,003	38,780	-94.00
Results on ordinary operations after taxation	4,483	39.88	-11,241	41.05	-27,384	67,104	-93.32
Extraordinary items	-1,186	-	0	-100	471	7,428	-115
Other appropriations	0	-	0.00	-	0.00	-	-
Net result	3,297	29.33	-11,241	41.77	-26,913	74,443	-95.57
other information
Dividends	-	-	-	-	-	135,797	-
Director remuneration	-	-	-	-	-	124,228	-
Employee costs	-	-	-	-	-	156,315	-
Wages and salary	-	-	-	-	-	132,384	-
Employee pension costs	-	-	-	-	-	8,542	-
Social security contributions	-	-	-	-	-	32,686	-
Other employee costs	0	-	0	-	0	4,386	-100
Amortization and depreciation	16,477	-4.39	17,233	-4.39	18,024	21,240	-22.42

balance sheet

Annual accounts	31-12-2011	%	31-12-2010	%	31-12-2009	Industry average 2011	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Intangible fixed assets	0	-	0	-	0	1,829	-100
Tangible fixed assets	503,476	-3.29	520,596	-2.81	535,628	205,781	144
Land & building	502,973	-3.03	518,681	-2.94	534,389	376,403	33.63
Plant & machinery	503	-30.95	728	-41.21	1,239	27,548	-98.17
Other tangible assets	0	-100	1,186	-	0	30,894	-100
Financial fixed assets	50	0	50	0	50	305,339	-99
Total fixed assets	503,526	-3.29	520,646	-2.81	535,678	412,635	22.03
Inventories	309,590	-14.92	363,865	-12.77	417,114	3,372,978	-90.82
Raw materials & consumables	-	-	-	-	-	3,184,382	-
Work in progress	0	-	0	-	0	2,341	-100
Finished goods	0	-	0	-	0	2,321,282	-100
Other stocks	309,590	-14.92	363,865	-12.77	417,114	466,789	-33.68
Trade debtors	96,577	-60.55	244,819	33.86	182,896	4,260,907	-97.73
Cash	28,133	-3.86	29,262	48.86	19,657	310,085	-90.93
other amounts receivable	2,517	7.06	2,351	-35.11	3,623	400,204	-99
Miscellaneous current assets	5,399	32.57	4,073	42.73	2,853	39,297	-86.26
Total current assets	442,216	-31.37	644,370	2.91	626,144	7,822,103	-94.35
current liabilities
Trade creditors	138,418	-61.14	356,215	-0.04	356,370	2,845,606	-95.14
Short term group loans	-	-	-	-	-	-	-
Other short term loans	0	-	0	-100	2,151	2,364,844	-100
Miscellaneous current liabilities	1,112	-39.90	1,850	155	725	-99	- -
Total current liabilities	139,530	-61.03	358,066	-0.33	359,246	5,479,992	-97.45
Long term debts
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	356,580	-1.12	360,616	4.53	345,001	-75.96	- -
Other long term liabilities	0	-	0	-	0	279,096	-100
Total long term debts	356,580	-1.12	360,616	4.53	345,001	881,173	-59.53
shareholders equity
Issued share capital	18,600	0	18,600	0	18,600	1,020,741	-98.18
Share premium account	-	-	-	-	-	173,859	-
Reserves	-35,399	91.48	-38,697	-40.94	-27,456	780,333	-104
Revaluation reserve	466,431	0.00	466,431	0	466,431	797,191	-41.49
Total shareholders equity	449,632	0.74	446,334	-2.46	457,575	1,825,932	-75.38
Working capital	302,686	5.72	286,304	7.27	266,898	2,342,111	-87.08
Net worth	449,632	0.74	446,334	-2.46	457,575	1,824,103	-75.35

ratio analysis

Annual accounts	31-12-2011	change(%)	31-12-2010	change(%)	31-12-2009	Industry average 2011	%
Trading performance
Profit Before Tax	0.31	81.58	-0.38	25.50	-1.49	-693,00	0.04
Return on capital employed	0.84	63.16	-1.33	43.75	-3.04	-13,00	6.46
Return on total assets employed	0.72	78.26	-0.92	43.81	-2.10	-32,00	2.25
Return on net assets employed	1.51	62.92	-2.40	45.03	-5.33	-20,00	7.55
Sales / net working capital	7.24	-26.72	9.88	60.65	6.15	63,00	-99
Stock turnover ratio	14.13	9.88	12.86	-49.41	25.42	41,00	-65.54
Debtor days	16.09	-49.07	31.59	-22.36	40.69	55.054,00	-99
Creditor days	23.49	-50.36	47.32	-39.76	78.55	245,00	-90.41
short term stability
Current ratio	3.17	76.11	1.80	3.45	1.74	4,00	-81.35
Liquidity ratio / acid ratio	0.95	21.79	0.78	34.48	0.58	3,00	-68.33
Current debt ratio	0.31	-61.25	0.80	1.27	0.79	17,00	-98.18
Liquidity ratio reprocessed	-	-	-	-	-	-	-
long term stability
Gearing	79.30	-1.86	80.80	6.50	75.87	266,00	-70.19
Equity in percentage	47.54	24.09	38.31	-2.72	39.38	-1.025,00	4.64
Total debt ratio	1.10	-31.68	1.61	4.55	1.54	18,00	-93.89

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
industry average credit rating	64.48
Industry average credit limit	140177.31

Payment expectations

Payment expectation days	23.49
Day sales outstanding	16.09

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	177.52
Industry average day sales outstanding	110.56

Industry quartile analysis

Payment expectations
Company result	23.49
Lower	127.34
Median	74.09
Upper	41.66


Day sales outstanding
Company result	16.09
Lower	112.04
Median	57.26
Upper	24.94

Summary

Group - Number of Companies	0
Linkages - Number of Companies	0
Number of Countries	0

Group Structure

No group structure for this company.

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

NSSO details

Business number	433019183
Name of defendant	-
Legal form of defendant	-
Date of summons	-
Labour court	-

Bankruptcy details

There is no bankruptcy data against this company

Court data

there is no data for this company

Current director details

Name	SAMUEL GOLDBERG
Position	Principal Manager
Start Date	25/10/1997
Street	33 FOURMENTSTRAAT ANTWERPEN
Post code	2018
Country	Belgium

Former director details

Name	GOLDBERG,
Position	Principal Manager
Start Date	26/05/1997
End Date	-
Street	189 MECHELSESTEENWEG ANTWERPEN
Post code	2018
Country	Belgium

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. Indi 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 2000 crore 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.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.08
UK Pound	1	Rs.89.53
Euro	1	Rs.72.77

INFORMATION DETAILS

Report Prepared by :

PRL

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	--

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

MIRA INFORM REPORT

CONTACTINFORMATION

COMPANY INFORMATION

COMPANY STRUCTURE

MANAGEMENT

PAYMENT INFORMATION

FINANCIAL INFORMATION

BALANCE SHEET

History

Company structure

Unit

Company name and address

Top of Form

Accounts & ratios

Court data summary

Profit & loss

balance sheet

ratio analysis

Industry comparison

Summary

Current director details

Unit