MIRA INFORM REPORT

Report Date :

04.07.2012

IDENTIFICATION DETAILS

Name :	MOHIT DIAMONDS PRIVATE LIMITED
Formerly Known As :	MOHIT DIAMOND IMPEX PRIVATE LIMITED
Registered Office :	BC-7011, 7th Floor, Tower-B, Central Block, Bharat Diamond Bourse, G - Blk, BKC, Bandra - East, Mumbai – 400051, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.08.1991
Com. Reg. No.:	11-63011
Capital Investment / Paid-up Capital :	Rs.40.142 Millions
CIN No.: [Company Identification No.]	U36912MH1991PTC063011
TAN No.: [Tax Deduction & Collection Account No.]	MUMM07149C
PAN No.: [Permanent Account No.]	AAACM2843A
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer and Exporter of Diamond and Diamond Jewellery
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 3255216
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having fine track. Trade relations are reported as fair. Business is active. 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

LOCATIONS

Registered Office :	BC-7011, 7th Floor, Tower-B, Central Block, Bharat Diamond Bourse, G - Blk, BKC, Bandra - East, Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-23827777
Fax No.:	91-22-23809889
E-Mail :	secretarial_mohitgroup@yahoo.co.in
Branch :	Jwellery Division, 301-304, 3rd Floor, Block II, Seepz ++, Seepz Sez, Andheri (East), Mumbai – 400096, Maharashtra, India

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Anoop V Mehta
Designation :	Chairman and Managing Director
Address :	52- El- CID, 13A, Ridge Road, Mumbai-400006, Maharashtra, India
Date of Birth/Age :	08.11.1956
Date of Appointment :	20.08.1991

Other Directorship:

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Bottom of Form

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	U36912MH1986PTC040054	EMAAR DIAMONDS PRIVATE LIMITED	Director	10/06/1986	10/06/1986	-	Active	NO
2	U65990MH1991PTC060425	DIA AGRO AND INVESTMENT PRIVATE LIMITED	Director	22/02/1991	22/02/1991	-	Active	NO
3	U36912MH1991PTC062891	MOHANLAL RAICHAND DIAMONDS PVT LTD	Director	12/08/1991	12/08/1991	-	Active	NO
4	U36912MH1991PTC063011	MOHIT DIAMONDS PRIVATE LIMITED	Managing director	20/08/1991	20/08/1991	-	Active	NO
5	U51220MH1991PTC062379	DESAI AUTO CREDITS PRIVATE LIMITED	Director	01/07/1993	01/07/1993	-	Active	NO
6	U51900MH1991PTC062392	DESAI TRADE CREDITS PRIVATE LIMITED	Director	01/07/1993	01/07/1993	-	Active	NO
7	U65944MH1991PTC062389	DESAI HOME FINANCE PRIVATE LIMITED	Director	01/07/1993	01/07/1993	-	Active	NO
8	U29290MH1991PTC062381	DESAI EQUIPMENT FINANCE PRIVATE LIMITED	Director	01/07/1993	01/07/1993	-	Active	NO
9	U65944MH1991PTC062390	DESAI BUILT-IN FINANCE PRIVATE LIMITED	Director	01/07/1993	01/07/1993	-	Active	NO
10	U51900MH1993PTC075281	MORSE TRADING CO P LTD	Director	30/12/1993	30/12/1993	-	Active	NO
11	U51900MH1993PTC075279	CLIO TRADING COMPANY P LTD	Director	30/12/1993	30/12/1993	-	Active	NO
12	U33300MH1995PTC089831	DIA PRECIOUS JEWELLERY PRIVATE LIMITED	Director	22/06/1995	22/06/1995	-	Active	NO
13	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	27/10/1995	27/10/1995	-	Active	NO
14	U65990MH1998PTC116003	KIRTI EQUITIES PRIVATE LIMITED	Director	09/09/1998	09/09/1998	07/03/2011	Active	NO
15	U51900MH1973NPL017093	DIAMOND EXPORTERS ASSOCIATION LIMITED	Director	20/07/2002	20/07/2002	-	Active	NO
16	U33302MH2003PTC141202	LUXURY JEWELLERY PRIVATE LIMITED	Director	07/07/2003	07/07/2003	-	Active	NO
17	U01110MH2003PTC141503	EXOTIC PARKS PRIVATE LIMITED	Director	28/07/2003	28/07/2003	-	Active	NO
18	U36910MH2003PTC143687	MOHIT JEWELLERY PRIVATE LIMITED	Director	29/12/2003	29/12/2003	-	Amalgamated	NO
19	U51909MH1999PTC172155	LIFESTYLE TRADELINK (INDIA) PRIVATE LIMITED	Director	12/02/2004	12/02/2004	-	Active	NO
20	U36911MH2005PTC152239	MOHIRA JEWELLERY PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Active	NO
21	U91120MH2005PLC157427	PALANPUR COMMUNITY FOUNDATION	Director	21/11/2005	21/11/2005	-	Active	NO
22	U01403MH2007PTC168618	LUXURY AGRO-DEVELOPMENT PRIVATE LIMITED	Director	26/03/2007	26/03/2007	-	Active	NO
23	U15412MH2008PTC180928	CHOCOCO CONFECTIONERIES PRIVATE LIMITED	Director	08/04/2008	08/04/2008	-	Active	NO
24	U70102PN2006PTC022184	LAKEWAY PROPERTIES PRIVATE LIMITED	Director	21/11/2008	21/11/2008	-	Active	NO
25	U55101MH2007PTC172235	NYATI RETREAT PRIVATE LIMITED	Additional director	22/12/2011	22/12/2011	-	Active	NO

Name :	Mrs. Devaunshi A Mehta
Designation :	Director
Address :	52- El- CID, 13A, Ridge Road, Mumbai-400006, Maharashtra, India
Date of Birth/Age :	29.02.1960
Date of Appointment :	01.12.1994

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	U65990MH1976PTC018974	PAURA INVESTMENTS PRIVATE LIMITED	Director	30/11/1979	30/11/1979	-	Active	NO
2	U65990MH1981PTC024552	MANUJ INVESTMENT PVT LTD	Director	16/12/1982	16/12/1982	-	Active	NO
3	U65990MH1991PTC060425	DIA AGRO AND INVESTMENT PRIVATE LIMITED	Director	15/03/1993	15/03/1993	-	Active	NO
4	U51900MH1993PTC075281	MORSE TRADING CO P LTD	Director	30/12/1993	30/12/1993	-	Active	NO
5	U51900MH1993PTC075279	CLIO TRADING COMPANY P LTD	Director	30/12/1993	30/12/1993	-	Active	NO
6	U36912MH1991PTC063011	MOHIT DIAMONDS PRIVATE LIMITED	Director	01/12/1994	01/12/1994	-	Active	NO
7	U33300MH1995PTC089831	DIA PRECIOUS JEWELLERY PRIVATE LIMITED	Director	22/06/1995	22/06/1995	-	Active	NO
8	U51900MH1991PTC062392	DESAI TRADE CREDITS PRIVATE LIMITED	Director	01/08/1997	01/08/1997	-	Active	NO
9	U65944MH1991PTC062389	DESAI HOME FINANCE PRIVATE LIMITED	Director	01/08/1997	01/08/1997	-	Active	NO
10	U29290MH1991PTC062381	DESAI EQUIPMENT FINANCE PRIVATE LIMITED	Director	01/08/1997	01/08/1997	-	Active	NO
11	U65944MH1991PTC062390	DESAI BUILT-IN FINANCE PRIVATE LIMITED	Director	01/08/1997	01/08/1997	-	Active	NO
12	U51220MH1991PTC062379	DESAI AUTO CREDITS PRIVATE LIMITED	Director	01/08/1997	01/08/1997	-	Active	NO
13	U36912MH1991PTC062891	MOHANLAL RAICHAND DIAMONDS PVT LTD	Director	09/07/1999	09/07/1999	-	Active	NO
14	U36912MH1986PTC040054	EMAAR DIAMONDS PRIVATE LIMITED	Whole-time director	25/02/2008	25/09/2001	-	Active	NO
15	U33302MH2003PTC141202	LUXURY JEWELLERY PRIVATE LIMITED	Director	07/07/2003	07/07/2003	-	Active	NO
16	U01110MH2003PTC141503	EXOTIC PARKS PRIVATE LIMITED	Director	28/07/2003	28/07/2003	-	Active	NO
17	U36910MH2003PTC143687	MOHIT JEWELLERY PRIVATE LIMITED	Director	29/12/2003	29/12/2003	-	Amalgamated	NO
18	U51909MH1999PTC172155	LIFESTYLE TRADELINK (INDIA) PRIVATE LIMITED	Director	12/02/2004	12/02/2004	-	Active	NO
19	U36911MH2005PTC152239	MOHIRA JEWELLERY PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Active	NO
20	U74994MH2005PTC158019	BIRLA ART LIFESTYLEPVT LTD	Director	13/12/2005	13/12/2005	-	Active	NO
21	U01403MH2007PTC168618	LUXURY AGRO-DEVELOPMENT PRIVATE LIMITED	Director	26/03/2007	26/03/2007	-	Active	NO
22	U15412MH2008PTC180928	CHOCOCO CONFECTIONERIES PRIVATE LIMITED	Director	08/04/2008	08/04/2008	-	Active	NO

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Name :	Mr. Robin Bipin Mehta
Designation :	Executive Director
Address :	3 Deepak, 401, S.V. Road, Opposite Pawan Hans, Vile Parle (West), Mumbai-400056, Maharashtra, India
Date of Birth/Age :	09.11.1966
Date of Appointment :	17.03.2009

Other Directorship:

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Bottom of Form

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	U36910MH2003PTC143687	MOHIT JEWELLERY PRIVATE LIMITED	Director	26/11/2004	26/11/2004	-	Amalgamated	NO
2	U36912MH1991PTC063011	MOHIT DIAMONDS PRIVATE LIMITED	Director	17/03/2009	17/03/2009	01/04/2012	Active	NO

KEY EXECUTIVES

Name :	Mr. Uday M Kothari
Designation :	Company Secretary
Address :	A-302, Viraj, Goverdhan Nagar, L.B.S. Marg, Mulund (West), Mumbai-400080, Maharashtra, India
Date of Birth/Age :	21.11.1961
Date of Appointment :	01.11.1995

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Equity Shares
Anoop Mehta Jointly with Devaunshi Mehta and Mohit Mehta	337400
Anoop Mehta	96400
Devaunshi Mehta Jointly with Anoop Mehta and Mohit Mehta	96400
Mohit Mehta Jointly with Anoop Mehta and Devaunshi Mehta	96400
Aopp V Mehta	337400
Total	964000

PREFERENCE SHAREHOLDERS AS ON 30.09.2011

Names of Shareholders	No. of Preference Shares
Anoop Mehta Jointly with Devaunshi Mehta and Mohit Mehta	3049600
Bharat Jhaveri	50
Alias Hiral I Kothari Jointly with Hiral P Punmyap	50
Indrajit M Kothari	50
Jayshree Kothari	50
Hitendra K Bansali	50
Darshna Bansali	50
Raju M Shah	50
Avani R Jhaveri	49
Malati R Zaveri	1
Shreya S Mehta	50
Yatish Trading Company Private Limited, Mumbai	50
Bharat M Mehta	50
Arvind Parekh Jointly with Vasundhara A Parekh	50
Vasundhara A Parekh Jointly with Arvind Parekh	50
Total	3050250

Equity Share Breakup (Percentage of Total Equity)

AS ON 30.09.2011

Category	Percentage of Holding
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Diamond and Diamond Jewellery

GENERAL INFORMATION

Bankers :

Punjab National Bank, Offshore Banking Division, Seepz, Andheri (East), Mumbai – 400096, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Banks
Preshipment Packing Credit	565.552	557.247
Postshipment Loans	303.969	415.388
Gold Loan	0.000	3.233
Term Loan	6.657	3.465
Notes: 1 Facilities granted/to be granted by Bank of Baroda Consortium to the Diamonds Division of the Company are secured against hypothecation of Stock in Trade, Book Debts of the Diamonds Divisions(except the securities offered to Punjab National Bank in respect of Jewellery Divisionof the Company)and all other movables of the Company and further secured by personal guarantee of the Directors. 2 Allsecured against Hypothecation of Stock in Trade, Book Debts and all other movables assets, Equitable Mortgage of Factory Premises of the Jewellery Division at Seepz++, Hypothecation of Assets of the Jewellery Division of the Company and further secured by personal guarantee of the Directors and Corporate Guarantee of one of the Group Company) 3 Repayable within one year Rs.869.520 Millions (Previous Year Rs. 972.635 Millions) 4 Term Loan from Bank of Baroda sanctionedRs.2.50 Cr out of which Rs.6.657 Millions is withdrawn during the year. Secured by way of Hypothecation of Fumitue and Fixtures and Office Equipment Purchase out of the above Term Loan. Rs.7.200 Millions is repayable within one year .
FROM OTHERS : Car Loan Repayable within one year Rs.1.032 Millions (Previous Year Rs.0.934 Millions)	2.287	1.588
Total	878.465	980.921
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Directors	49.482	30.181
From Members	59.666	50.089
Total	109.148	80.270

Banking Relations :	--
Auditors :
Name :	Chhotalal H Shah and Company Chartered Accountant
Address :	Damodar Mansion, 15, A K Naik Marg, Fort, Mumbai-400001, Maharashtra, India
Tel No.:	91-22-22011787/22019193
Fax No.:	91-22-22053529
Email :	chshah_co@vsnl.net
Partnership Concern:	KMG Jewellery Mohanlal Raichand Sons
Foreign Companies :	Blue Jays Private Limited Dhruv Star DMCC Dhruv Star BVBA Select Jewellery BVBA Annaka LLC
Foreign Subsidiaries :	Mohit Diamods USA Inc.
Subsidiaries :	Emaar Diamonds Private Limited U36912MH1986PTC040054 Mohira Jewellery Private Limited U36911MH2005PTC152239 Luxury Jewellery Private Limited U33302MH2003PTC141202
Entities controlled by Directors:	Mohanlal Raichand Diamonds Private Limited Dia Agro and Investment Private Limited Morse Trading Company Private Limited Desai Auto Credits Private Limited Desai Built In Finance Private Limited Desai Equipment Finance Private Limited Desai Home Finance Private Limited Desai Trade Credits Private Limited DIA Precious Jewellery Private Limited (Formerly Select Swiss Watches Private Limited Life-style Tradelink (India) Private Limited Nyati Retreat Private Limited Exotic Parks Private Limited Clio Trading Company Private Limited Mohanlal Raichand and Sons Chandulal Mohanlal and Sons Kmg Jewellery Metz Designs Chandulal Mohanlal Mehta Charitable Trust Emaar Family Trust Anoop Mehta Family Trust Luxury Agro Development Private Limited Chococo Confectioneries Private Limited Vrajlal Chandulal Mehta HUF

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2050000	Equity Shares	Rs.10/- each	Rs.20.500 Millions
11950000	4% Non-Cumulative Redeemable Preference Shares	Rs.10/- each	Rs.119.500 Millions
	Total		Rs.140.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
964000	Equity Shares	Rs.10/- each	Rs.9.640 Millions
3050250	4% Non Cumulative Redeemable Preference Shares	Rs.10/- each	Rs.30.502 Millions
	Total		Rs.40.142 Millions

NOTES:

• Out of above 3,000 Equity Shares of Rs. 101- each were allotted in the financial year 2003-04 in pursuance to the Scheme of Amalgamation without payment being received in cash.
• Out of the total equity shares 9,60,000 Equity shares of Rs.10/-each have been issued as fully paid up bonus shares by capitalizing credit balance of Profit and Loss Account.
• Out of above 250 4% Non Cumulative Redeemable Preference Shares of Rs.10/- each were allotted in pursuance to the Scheme of Amalgamation without payment being received in cash be redeemed at par at the option of the Board of Directors by giving one month notice but on or before 31st March, 2014.
• The Company has issued 30,50,000 4% Non Cumulative Redeemble Preference Shares of Rs.10/- each on 23rd March, 2007 and the said preference shares are to be redeemed at par at the option of the Board of Directors by giving one months notice but on or before 31^st March, 2022.

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		40.142	40.142	40.142
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		773.662	721.380	703.080
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		813.804	761.522	743.222
LOAN FUNDS
1] Secured Loans		878.465	980.922	747.042
2] Unsecured Loans		109.148	80.270	62.564
TOTAL BORROWING		987.613	1061.192	809.606
DEFERRED TAX LIABILITIES		16.796	8.840	(8.677)
TOTAL		1818.213	1831.554	1544.151
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		225.127	162.287	168.010
Capital work-in-progress		0.000	68.954	67.650
INVESTMENT		42.399	49.047	46.965
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	891.323	785.946	870.772
	Sundry Debtors	690.207	711.309	422.147
	Cash & Bank Balances	22.313	20.998	9.598
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	111.794	200.206	96.372
Total Current Assets		1715.637	1718.459	1398.889
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	109.079	88.714	79.300
	Others Current Liabilities	3.217	1.862	3.279
	Provisions	52.654	76.617	54.784
Total Current Liabilities		164.950	167.193	137.363
Net Current Assets		1550.687	1551.266	1261.526
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1818.213	1831.554	1544.151

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2656.904	2293.716	1895.211
		Other Income	2.538	1.313	1.261
		Share of Profit/ Loss form Partnership firm	(0.228)	0.360	(0.248)
		TOTAL (A)	2659.214	2295.389	1896.224
Less	EXPENSES
		Material Cost	1977.046	1608.802	1511.140
		Employees Remuneration	21.676	17.778	16.099
		Manufacturing and Other Expenses	508.858	367.793	345.116
		Exchange Difference	(17.110)	11.816	73.315
		Distribution Expenses	33.928	33.914	31.823
		Administrative Expenses	30.016	26.648	27.285
		Other Expenses	1.996	0.308	0.365
		Increase/(Decrease) in Stock	(70.949)	96.770	(208.533)
		TOTAL (B)	2485.461	2163.829	1796.610
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		173.753	131.560	99.614
Less	FINANCIAL EXPENSES (D)		86.556	63.381	62.831
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		87.197	68.179	36.783
Less/ Add	DEPRECIATION/ AMORTISATION (F)		11.737	10.888	7.767
	PROFIT BEFORE TAX (E-F) (G)		75.460	57.291	29.016
Less	TAX (I)		23.307	27.515	(7.410)
	PROFIT AFTER TAX (G-I) (J)		52.153	29.776	36.426
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		687.880	672.580	698.976
Less	APPROPRIATIONS
		Profit Transfer to General Reserve	0.000	3.000	0.000
		Prior Period Depreciation	0.000	0.000	6.911
		Prior Period Adjustments/Expenses	(0.283)	(0.621)	(0.072)
		Proposed Divided	0.000	9.896	0.000
		Tax on Dividend	0.000	1.682	0.000
		Short Provision of tax Written Back	0.155	0.519	(1.094)
	BALANCE CARRIED TO THE B/S		740.161	687.880	672.580
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	2645.052	2276.409	1882.678
	TOTAL EARNINGS		2645.052	2276.409	1882.678
	IMPORTS
		Raw Materials	114.259	10.992	27.036
		Stores & Spares	1.691	0.477	0.666
		Capital Goods	0.069	3.529	3.604
	TOTAL IMPORTS		116.019	14.998	31.306
	Earnings Per Share (Rs.)		54.10	30.89	37.79

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.96	1.30	1.92
Net Profit Margin (PBT/Sales)	(%)	2.84	2.50	1.53
Return on Total Assets (PBT/Total Assets}	(%)	3.89	3.04	1.85
Return on Investment (ROI) (PBT/Networth)		0.09	0.07	0.04
Debt Equity Ratio (Total Liability/Networth)		1.42	1.61	1.27
Current Ratio (Current Asset/Current Liability)		10.40	10.27	10.18

LOCAL AGENCY FURTHER INFORMATION

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 three years	Yes
12) Profitability for last three 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	Yes
30) Major Shareholders, if available	Yes

NOTE:

The registered office address of the company has been shifted from Mehta Bhavan 5th Floor 311 New Charni Road, Mumbai – 400004, Maharashtra, India to present address w.e.f. 01.10.2011

PERFOMANCE:

The Sales and Other Income of the Company for the year under consideration was Rs. 2656.904 Millions (Previous Year Rs. 2293.716 Millions). The sales and other income of the Company registered increase 15.83% as against previous year 21.03%.

The Jewellery Division of the Company manufactures gold, silver and studded jewellery in its state of art Jewellery Manufacturing facilities in SEEPZ-SEZ. The Sales and Other income of the Jewellery Division of the Company during the year under review was Rs. 397.188 Millions (Previous Year Rs. 311.314 Millions).

The efforts are being made to explore the new markets for the Jewellery and other product besides existing markets.

Bankers Charges Report as per Registry

Corporate identity number of the company	U36912MH1991PTC063011
Name of the company	MOHIT DIAMONDS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Mehta Bhavan, 5^th Floor, 311, New Charni Road, Mumbai-400004, Maharashtra, India
Type of charge	Immovable Property Movable Property
Particular of charge holder	Deed of Further Charge Dated 19th Nov, 2010
Nature of description of the instrument creating or modifying the charge
Date of instrument Creating the charge	19/11/2010
Amount secured by the charge	Rs.130.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As Stipulated/Charged As Per Bank's Sanction Terms Or Applicable From Time To Time Terms of Repayment On Demand Margin As Stipulated/Charged As Per Bank's Sanction Terms Applicable From Time To Time Extent and Operation of the charge To Secure Enhancement In (1) Packing Credit From USD 0.653 Million To USD 1.522 Million (Equivalent Of Rs. 7.00 Crores) And (2) Export Postshipment Finance (Fabc/Fubc) From Usd 1.032 Million To USD 1.304 Million (Equivalent To Rs. 60.000 Millions) And One Way 50% Interchangebility Of Pc To PSC. Total Fund Based Facilities Granted/To Be Granted By Pnb To The Jewellery Division Of The Company - USD 2.826 Million And At Present Exchange Rate Equivalent To Rs. 130.000 Millions. Others As Per Terms And Conditions Of Sanction Letter Of Punjab National Bank
Short particulars of the property charged	All The Assets And Movable Property Of Jewellery Division Of The Company Any Kind Brought/To Be Bought In, Stored At Gala 301-304, Bldg Ii, Seepz ++, Andheri- East, Mumbai 400 096 Including Furniture And Fixtures, Electrical Installation, Office Equipments, Plant and Machinery, Air Conditioning Equipments, Computers Etc. All Right, Title and Immovable Property, Intrest In All Industrial Premises Admeasuring At Or About 26,168.32 Sq.Ft. and Bearing Gala No. 301,302,303 & 304 In Building No. 2, Seepz++, Andheri (East), Mum-96
Date of latest modification prior to the present modification	14/06/2010
Particulars of the present modification	To Secure Enhancement In (1) Packing Credit From USD 0.653 Million To USD 1.522 Million (Equivalent Of Rs. 70.000 Millions) And (2) Export Postshipment Finance (Fabc/Fubc) From Usd 1.032 Million To Usd 1.304 Million (Equivalent To Rs. 60.000 Millions) And One Way 50% Interchangebility Of Pc To Psc. Total Fund Based Facilities Granted/To Be Granted By Pnb To The Jewellery Division Of The Company - Usd 2.826 Million And At Present Exchange Rate Equivalent To Rs.130.000 Millions.

FIXED ASSETS:

· Motor Car

· Office Equipments

· Computer

· Furniture and Fixtures

· Air Conditioners

· Electric Installation

· Plant and Machinery

· Foreign Motor Car

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.54.81
UK Pound	1	Rs.86.04
Euro	1	Rs.69.06

INFORMATION DETAILS

Report Prepared by :

SDA

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	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

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.