MIRA INFORM REPORT

Report Date :

25.06.2013

IDENTIFICATION DETAILS

Name :	KAMA-SCHACHTER JEWELRY PRIVATE LIMITED (w.e.f. 06.05.2008)
Formerly Known As :	KAMA JEWELLERY (INDIA) LIMITED (w.e.f. 21.10.2004) LOGGAR INVESTMENT AND COMMERCIALS PRIVATE LIMITED
Registered Office :	Unit No. 110, 1st Floor, The Capital, Opposite ICICI Bank, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.06.1993
Com. Reg. No.:	11-072544
Capital Investment / Paid-up Capital :	Rs.179.107 Millions
CIN No.: [Company Identification No.]	U65990MH1993PTC072544
TAN No.: [Tax Deduction & Collection Account No.]	MUMK05425A
PAN No.: [Permanent Account No.]	AAACK2261J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Diamonds and Diamonds Jewelry.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 3910000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having a satisfactory track record. The financial for the year 2012 is not available. As per previous year’s, the performance of the company seems to be good. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual trade terms and condition.

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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BBB+ (Cash Credit)
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation. It carry moderate credit risk.
Date	March 2013

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.

INFORMATION PARTED BY

Name :	Ms. Hema
Designation :	Finance Department
Contact No.:	91-22-43441000
Date :	24.06.2013

LOCATIONS

Registered Office :	Unit No. 110, 1st Floor, The Capital, Opposite ICICI Bank, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-67770700/ 28293901
Fax No.:	91-22-67770707/ 28293906
E-Mail :	info@kamajewellery.com info@kamaschachter.com
Website :	www.kamaschachter.com
Area :
Corporate Office :	601-604, Multi Storied Building, AC Zone Seepz-Sez, Andheri (East), Mumbai – 400096, Maharashtra, India
Tel. No.:	91-22-43441000
Fax No.:	91-22-43441005
Factory :	221-226, 2nd Floor, Udyog Bhavan, Goregaon (East), Mumbai – 400063, Maharashtra, India
Tel No.:	91-22-26867221
Diamond Office :	916, 9th Floor, Prasad Chember, Charni Road East, Mumbai – 400004, Maharashtra, India
Tel No.:	91-22-43440600
Fax No.:	91-22-43440605
Email :	info@kamaschachter.com
Overseas Office :	USA 597 Fifth Avenue, New York , NY 10017 Tel: 212 668 2000 Fax: 212 688 3345 Email: myriam.destin@lsdco.com Israel 54 Bezalel Street, Ramat Gan 52521, Tel Aviv. Tel: 972 3 576 6222 Fax: 972 3 575 3569 Email: info@lsdco.com Germany D-69514 Laudenbach, Robert-Bosch Strabe, 11 Postfach, PO Box 116, Near Frankfurt Airport, Tel: 49 6201 8780980 Fax: 49620173138 Email: elzer@kamaeurope.com Canada 27 Queen Street East, Suite 805, Toronto , Ontario, Canada M5C 2M6 Tel: 1 416-955-9114 Fax: 1 416-955-0873; Email: david.gavin@lsdco.com Japan Iida Building, 3rd Floor, 3F, 4-6-2 Taito, Taito-Ku, Tokyo, Japan 110-0016 Tel: 81 35 8465030/5032; Fax: 81 35 8345528; Email: nami@kamajewellery.com

DIRECTORS

As on: 23.07.2012

Name :

Mr. Colin Pankaj Shah

Designation :

Managing Director

Address :

211/212, 21^st Floor, Tower – A, Kalpataru Horizone, Behind Poddar Hospital, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

10.08.1969

PAN No.:

AAEPS7244J

Date of Appointment :

01.04.2010

DIN No.:

00043610

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	U65990MH1993PTC072544	KAMA-SCHACHTER JEWELRY PRIVATE LIMITED	Managing director	01/04/2010	02/11/1994	-	Active	NO
2	U70200MH1989PTC053092	SAMARJIT ESTATES PVT LTD	Director	30/07/2001	30/07/2001	29/06/2007	Active	NO
3	U74999MH2007PTC175357	K.S. VISION INVESTMENT PRIVATE LIMITED	Director	24/10/2007	24/10/2007	-	Active	NO
4	U36912MH1989GAP053844	SEEPZ GEMS AND JEWELLERY MANUFACTURERS ASSOCIATION	Director	29/09/2009	29/09/2009	-	Active	NO
5	U72900MH2010PTC204388	KAMA-SCHACHTER INFOTECH PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO
6	U74999MH2011PTC216930	KAMA JEWELLERY PRIVATE LIMITED	Director	02/05/2011	02/05/2011	04/11/2011	Active	NO
7	U99100MH1966GAP013486	THE GEM AND JEWELLERY EXPORT PROMOTION COUNCIL	Director	27/09/2012	27/09/2012	-	Active	NO

Name :

Mrs. Mamta Kishore Apparao

Designation :

Nominee Director

Address :

Flat No. 121, 21st Floor, Samudra Mahal, Dr. Annie Beasant Road, Worli, Mumbai- 400018, Maharashtra, India

Date of Birth/Age :

09.05.1954

PAN No.:

AAMPA1132D

Date of Appointment :

22.06.2007

DIN No.:

00043528

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	U14102TZ1986PTC001855	ERODE GRANITES PRIVATE LIMITED	Managing director	04/04/1993	04/04/1993	-	Dormant	NO
2	U65990MH1993PTC072544	KAMA-SCHACHTER JEWELRY PRIVATE LIMITED	Nominee director	22/06/2007	02/11/1994	-	Active	NO
3	U51909GJ1995PTC024404	GOLDEN HEER IMPORTERS PRIVATE LIMITED	Director	27/03/1998	27/03/1998	-	Active	NO
4	U45201TN1989PLC018260	S.S.PROJECTS LIMITED	Director	29/09/2012	14/02/2002	-	Active	NO
5	U70109AP1984PTC005156	S S INVESTMENTS PRIVATE LIMITED	Director	01/01/2004	01/01/2004	-	Active	NO
6	U85110KA1992PLC012870	ESL WORLDWIDE SEA LOGISTICS LIMITED	Director	22/09/2004	22/09/2004	02/09/2009	Strike off	NO
7	U27209GJ1995PTC024383	NEO PRECIOUS MERCANTILE GOODS PRIVATE LIMITED	Director	29/10/2005	29/10/2005	-	Active	NO
8	U63090MH2003PLC139657	TAG OFFSHORE LIMITED	Director	03/07/2006	03/07/2006	-	Active	NO
9	U74999MH2007PTC175357	K.S. VISION INVESTMENT PRIVATE LIMITED	Director	24/10/2007	24/10/2007	-	Active	NO
10	U52190MH2009PTC190393	NEELAKSHI MULTITRADE PRIVATE LIMITED	Director	16/03/2009	16/03/2009	-	Active	NO
11	U72900MH2010PTC204388	KAMA-SCHACHTER INFOTECH PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO
12	U74999MH2011PTC216930	KAMA JEWELLERY PRIVATE LIMITED	Director	02/05/2011	02/05/2011	04/11/2011	Active	NO
13	U61200MH2012PTC229861	S N OFFSHORE PRIVATE LIMITED	Additional director	30/06/2012	18/04/2012	-	Active	NO
14	U70102MH2010PTC202193	CHANDRABHAL PROPERTIES PRIVATE LIMITED	Additional director	05/05/2012	05/05/2012	-	Active	NO

Name :

Mr. Shamik Kishore Apparao

Designation :

Nominee Director

Address :

Flat No. 110, 10th Floor, Samudra Mahal, Dr. A B Road, Worli, Mumbai- 400018, Maharashtra, India

Date of Birth/Age :

27.05.1979

PAN No.:

AGGPA2373Q

Date of Appointment :

26.03.2003

DIN No.:

00043571

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	U65990MH1993PTC072544	KAMA-SCHACHTER JEWELRY PRIVATE LIMITED	Nominee director	26/03/2003	26/03/2003	-	Active	NO
2	U70109AP1984PTC005156	S S INVESTMENTS PRIVATE LIMITED	Director	01/01/2004	01/01/2004	-	Active	NO
3	U85110KA1992PLC012870	ESL WORLDWIDE SEA LOGISTICS LIMITED	Director	22/09/2004	22/09/2004	02/09/2009	Strike off	NO
4	U63090MH2003PLC139657	TAG OFFSHORE LIMITED	Managing director	01/04/2011	01/05/2005	-	Active	NO
5	U27209GJ1995PTC024383	NEO PRECIOUS MERCANTILE GOODS PRIVATE LIMITED	Director	29/10/2005	29/10/2005	-	Active	NO
6	U51909GJ1995PTC024404	GOLDEN HEER IMPORTERS PRIVATE LIMITED	Director	29/10/2005	29/10/2005	-	Active	NO
7	U52190MH2009PTC190393	NEELAKSHI MULTITRADE PRIVATE LIMITED	Director	16/03/2009	16/03/2009	-	Active	NO
8	U61200MH2012PTC229861	S N OFFSHORE PRIVATE LIMITED	Additional director	30/06/2012	18/04/2012	-	Active	NO

Name :

Mr. Prashant Shashikant Ruia

Designation :

Nominee Director

Address :

Bin Hamoodah Village No.17, Plot No.992, 332-14, Jumeirah Street, Dubai, BA United Arab Emirates

Date of Birth/Age :

04.06.1969

Date of Appointment :

22.06.2007

DIN No.:

01187548

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	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	31/10/2006	22/12/1987	28/03/2012	Active	NO
2	U40100GJ1991PLC064824	ESSAR POWER LIMITED	Director	16/03/1995	16/03/1995	20/04/2009	Active	NO
3	U67190TN1995PLC029804	KARTHIK FINANCIAL SERVICES LIMITED	Director	31/01/2000	31/01/2000	31/12/2005	Active	NO
4	L11100GJ1989PLC032116	ESSAR OIL LIMITED	Director	20/12/2012	29/11/2000	-	Active	NO
5	U72200MH1992PLC064816	ESSAR INFORMATION TECHNOLOGY LIMITED	Director	15/02/2001	15/02/2001	10/03/2007	Active	NO
6	U65990MH1993PTC072544	KAMA-SCHACHTER JEWELRY PRIVATE LIMITED	Nominee director	22/06/2007	19/07/2004	-	Active	NO
7	U45203MH2005PLC150589	ESSAR PIPELINE LIMITED	Director	12/01/2005	12/01/2005	10/03/2007	Amalgamated	NO
8	U27100GJ2005FLC045786	HAZIRA PLATE LIMITED	Director	30/03/2005	30/03/2005	18/12/2008	Amalgamated	NO
9	U27100GJ2005FLC046055	ESSAR STEEL KARNATAKA LIMITED.	Director	11/05/2005	11/05/2005	02/05/2007	Strike off	NO
10	U35111GJ1993FLC053434	VADINAR OIL TERMINAL LIMITED	Director	20/09/2005	20/09/2005	20/04/2009	Active	NO
11	U70100MH2006PLC160616	VADINAR PROPERTIES LIMITED	Director	21/03/2006	21/03/2006	20/04/2009	Active	NO
12	U32200MH1992PLC119108	VODAFONE INDIA LIMITED	Director	15/06/2007	27/09/2006	01/07/2011	Active	NO
13	U27104MH2006PLC162609	ESSAR STEEL ORISSA LIMITED	Additional director	13/03/2009	29/01/2007	-	Amalgamated	NO
14	U13100GJ2004PLC043477	ESSAR BULK TERMINAL LIMITED	Director	13/02/2007	13/02/2007	20/04/2009	Active	NO
15	U25199GJ2007PLC050164	HAZIRA PIPE MILL LIMITED	Director	06/03/2007	06/03/2007	18/12/2008	Amalgamated	NO
16	U65923TN2007PLC085016	ESSAR CAPITAL LIMITED	Additional director	17/06/2008	17/06/2008	20/04/2009	Active	NO
17	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	30/07/2009	04/10/2008	02/09/2009	Active	NO
18	U99999MH1992PLC064767	AEGIS LIMITED	Additional director	05/12/2012	05/12/2012	-	Active	NO

Name :

Mr. Michael Jeffrey Steinmetz

Designation :

Nominee Director

Address :

338, Edward Avenue, Woodmere, New York 11598

Date of Birth/Age :

20.09.1957

Date of Appointment :

22.06.2007

DIN No.:

01583416

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	U65990MH1993PTC072544	KAMA-SCHACHTER JEWELRY PRIVATE LIMITED	Nominee director	22/06/2007	22/06/2007	-	Active	NO
2	U36911MH2008PTC185952	LEO SCHACHTER DIAMONDS INDIA PRIVATE LIMITED	Director	27/09/2011	13/09/2011	25/03/2012	Active	NO

Name :

Mr. Elliot Tannenbaum

Designation :

Nominee Director

Address :

57, Achi Dakar, Raanana 43259, Israel

Date of Birth/Age :

10.05.1952

Date of Appointment :

22.06.2007

DIN No.:

01758529

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	U65990MH1993PTC072544	KAMA-SCHACHTER JEWELRY PRIVATE LIMITED	Nominee director	22/06/2007	22/06/2007	-	Active	NO
2	U36911MH2008PTC185952	LEO SCHACHTER DIAMONDS INDIA PRIVATE LIMITED	Director	19/08/2008	19/08/2008	24/01/2009	Active	NO

Name :

Mr. Steven Gabriel Farber

Designation :

Alternate Director

Address :

51 Ben Tov Street, Raanana, 43229, Israel

Date of Birth/Age :

24.05.1963

Date of Appointment :

11.04.2011

DIN No.:

03461971

KEY EXECUTIVES

Name :	Ms. Hema
Designation :	Finance Department
Name :	Ms. Pranali More
Designation :	Company Secretary
Address :	10 Madhukunj, B. P. Road, Kandarpada, Dahisar (West), Mumbai- 400068, Maharashtra, India
Date of Birth/Age :	22.11.1984
Qualification :
Experience :
Date of Appointment :	13.12.2010
PAN No.:	AODPM3175P

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 23.07.2012

Names of Shareholders	No. of Equity Shares
Golden Heer Importers Private Limited, India	2689500
Shamik K. Apparao	5500
Colin P. Shah	2194390
Vaishali C. Shah	495110
Pankaj C. Shah	2750
Bharati P. Shah	2750
Indira Investments Limited, Mauritius	2425500
Steven Farber	134750
Ari Wolf, Israel	134750
Total	8085000

Names of Shareholders	No. of Preference Shares
Golden Heer Importers Private Limited, India	300000
Essar Investments Limited, India	82568
Golden Heer Importers Private Limited, India	150000
Golden Heer Importers Private Limited, India	450000
Total	982568

Equity Share Break up (Percentage of Total Equity)

As on: 23.07.2012

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	33.34
Bodies corporate	33.27
Directors or relatives of directors	33.39
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Diamonds and Diamonds Jewelry.

Products :

Products Description	Item Code No.
Studded Jewellery	711319.03

Exports :

Products :

· Diamonds

· Diamonds Jewelry

Countries :

· USA

· Dubai

· Israel

· Hong Kong

· UK

· London

Imports :

Products :

Raw Material

Countries :

· US

· UK

· Israel

· Hong Kong

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Actual Production
Studded Jewellery	Nos.	857.784

GENERAL INFORMATION

No. of Employees :

1000 (Approximately)

Bankers :

· State Bank of India, Diamond Branch, Majestics Shoping Center, Girgaon, Mumbai – 400004, Maharashtra, India

· ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India

· Bank of India, Seepz Branch, MIDC Seepz, Andheri East, Mumbai – 400096, Maharashtra, India

Facilities :

Total Facility Rs.1800.000 Millions

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Foreign currency loans banks secured (A)	17.860	36.112
Working capital loans banks secured (B)	1161.206	1104.839
Loans taken for vehicles secured (C)	0.654	1.192
Total	1179.720	1142.143

Notes:

(A) Term Loan is secured by Equitable Mortgage of the Company's factory premises and hypothecation of other fixed assets of Multistoried unit at Seepz , Andheri (E), Mumbai and is also guaranteed by the Managing Director and erstwhile Holding Company. Term Loan is repayable within one year.

(B) Rupee Loans Rs.536.800 Millions Foreign Currency Loans Rs.624.406 Millions Working Capital loans from banks are secured by hypothecation of stock in trade, stores and spares, book debts and bills receivable, all other movables and equitable mortgage of Factory premises at Udyog Bhavan, Goregaon (E), Mumbai and Units at Block II, Seepz,Andheri (E), Mumbai. Second Charge on Units at Multi-Storied Building, SEEPZ, Andheri(E), Mumbai. Further secured by personal guarantee of Managing Directors and Corpotarte guarantee of a Company and other property owners.

(C) Vehicle Loan from banks is secured by hypothication of Vehicles.

Banking Relations :	--
Auditors :
Name :	G. M. Kapadia and Company Chartered Accountants
Address :	Tamarind House, 36B Tamarind Lane, Fort, Mumbai - 400001, Maharashtra, India
PAN No.:	AAAFG4713G
Subsidiary Company :	· K.S. Vision Investment Private Limited (Formerly known as Kama Jewelry (India) CIN No.: U74999MH2007PTC175357 · Trading Company Private Limited) · Kama Schachter Jewelry Japan Company Limited · Kama-Schachter Jewelry Inc. · Kama Schachter Jewelry Hong Kong Limited · Kama Schachter Infotech Private Limited CIN No.: U72900MH2010PTC204388 · Kama Schachter Jewelry DMCC
Joint Venture :	· Kama Europe Gmbh
Individuals or Enterprise owing an interest in the voting power of the company :	· Golden Heer Importers Private Limited CIN No.: U51909GJ1995PTC024404 · Indira Investments Limited
Enterprise owned or significantly influenced by above individuals or Enterprises :	· S S Projects Limited CIN No.: U45201TN1989PLC018260 · S S Investments Private Limited CIN No.: U70109AP1984PTC005156 · Neo Precious Mercantile Goods Private Limited (Formerly known as Precious Metals Private Limited) CIN No.: U27209GJ1995PTC024383 · Leo Schachter Diamonds Limited, Israel · Leo Schachter Diamonds LLC, New York · Leo Schachter Canada Limited · Rama International LLC · SNW Limited · Leo Schachter Diamonds East Limited · Leo Schachter Diamonds India Private Limited CIN No.: U36911MH2008PTC185952 · TAG Offshore Limited CIN No.: U63090MH2003PLC139657 · Leo Schachter Diamonds DMCC

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions
1000000	Preference Shares	Rs.100/- each	Rs.100.000 Millions
	Total		Rs.200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8085000	Equity Shares	Rs.10/- each	Rs.80.850 Millions
982568	Preference Shares	Rs.100/- each	Rs.98.257 Millions
	Total		Rs.179.107 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		179.107	179.107	179.107
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		798.816	640.077	424.843
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		977.923	819.184	603.950
LOAN FUNDS
1] Secured Loans		1179.720	1142.143	745.854
2] Unsecured Loans		0.000	0.000	7.500
TOTAL BORROWING		1179.720	1142.143	753.354
DEFERRED TAX LIABILITIES		18.865	12.581	3.798
TOTAL		2176.508	1973.908	1361.102
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		480.507	487.281	235.429
Capital work-in-progress		12.676	1.524	190.137
INVESTMENT		100.728	5.826	12.044
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1153.366	927.465	628.858
	Sundry Debtors	922.717	1070.127	544.092
	Cash & Bank Balances	87.134	63.905	50.506
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	81.507	73.950	77.869
Total Current Assets		2244.724	2135.447	1301.325
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	551.905	548.746	321.010
	Other Current Liabilities	36.537	32.234	16.785
	Provisions	73.685	75.190	40.038
Total Current Liabilities		662.127	656.170	377.833
Net Current Assets		1582.597	1479.277	923.492
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2176.508	1973.908	1361.102

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	3637.035	4463.222	2154.747
		Other Income	NA	46.535	3.690
		TOTAL (A)	NA	4509.757	2158.437
Less	EXPENSES
		Materials Cost		3738.191	1629.395
		Manufacturing Expenses		80.646	33.303
		Employees Cost		151.108	107.024
		Selling and Distribution Expenses		46.121	44.438
		Other Expenses		103.216	158.838
		TOTAL (B)	NA	4119.282	1972.998
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		346.329	390.475	185.439
Less	FINANCIAL EXPENSES (D)		87.365	66.879	52.081
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		258.964	323.578	133.358
Less/ Add	DEPRECIATION/ AMORTISATION (F)		37.855	32.065	19.417
	PROFIT BEFORE TAX (E-F) (G)		221.109	291.531	113.941
Less	TAX (H)		15.584	22.283	14.946
	PROFIT AFTER TAX (G-H) (I)		205.525	269.248	98.995
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		405.894	220.660	162.480
Less	APPROPRIATIONS
		Transfer to General Reserve	25.032	30.000	15.000
		Proposed Dividend on Preference Share Capital	5.895	5.895	5.895
		Proposed Dividend on Equity Share Capital	34.361	40.425	16.170
		Dividend Tax	6.530	7.693	3.750
	BALANCE CARRIED TO THE B/S		539.601	405.895	220.660
	EXPORT VALUE		2354.563	3741.329	1670.317
	IMPORTS VALUE		NA	665.035	269.007
	Earnings Per Share (Rs.)		24.57	32.45	11.39

Particulars	31.03.2013	31.03.2012
Sales Turnover (Approximately)	4200.000	4850.000
	(Due to Market Fluctuation)

Expected Sales (2013-2014): Rs.5000.000 Millions

The above information has been parted by Ms. Hema

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	5.97	4.59
Net Profit Margin (PBT/Sales)	(%)	6.08	6.53	5.29
Return on Total Assets (PBT/Total Assets}	(%)	8.11	11.12	7.41
Return on Investment (ROI) (PBT/Networth)		0.23	0.36	0.19
Debt Equity Ratio (Total Debt/Networth)		1.21	1.39	1.25
Current Ratio (Current Asset/Current Liability)		3.39	3.25	3.45

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last five years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Note:

The Registered Office of the company has been shifted from Unit no. 601-604, Multi Storied Building, SEEPZ-SEZ, Andheri (East), Mumbai – 400096, Maharashtra, India to the present address w.e.f. 23.07.2012

OPERATIONS:

During the year, the Company’s total sales are decreased by 19 % to Rs. 3637.035 Millions in current year as compared to Rs. 4463.222 Millions in the last year. The Company had adopted cautious approach in sales and marketing to avoid bad debts. In the process the Company rejected many orders which could have contributed towards higher sales turnover. Though in absolute terms the Profit before Depreciation, Tax and Interest has reduced from Rs.390.475 Millions in previous year to Rs.346.329 Millions in current year, as a percentage on Company’s net sales it has increased from 8.75% in previous year to 9.52% implying increase in operational efficiency. Net Profit after Tax has decrease to Rs. 205.525 Millions as compared to Rs. 269.248 Millions in the previous year.

CONTINGENT LIABILITIES

(Rs. In Millions)

Particular	31.03.2011	31.03.2010
Disputed Income Tax liabilities not provided for (Note (a) to (c) below)	3.580	3.978
Estimated amount of contracts remaining to be executed on Capital account (net of advance)	5.980	0.373
Guarantee given by banks on behalf of the Company (Fixed Deposits pledged Rs.10.950 Millions, P.Y. Rs.4.172 Millions)	70.000	29.700
Guarantee given by the Company on behalf of Subsidiary - for the principal (USD 4 Million) (excluding any interest payable on above guarantee)	178.600	180.560

Notes

a) Includes Appeal for Assessment Year 1996-97 where additions are made by A.O. on account of deferred revenue expenditure which has been deleted by CIT (Appeals).

b) Includes Appeal for Assessment Year 2005-06 where bad debt written off is subject to verification by CIT (Appeals).

c) Includes Appeal for Assessment Year 2006-07 and 2007-08 for Sec 14A disallowance and interest expenses disallowance.

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U65990MH1993PTC072544
Name of the company	KAMA-SCHACHTER JEWELRY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Unit No. 110, 1st Floor, The Capital, Opposite ICICI Bank, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India E-mail: info@kamaschachter.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10337930
Type of charge	Immovable property
Particular of charge holder	ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India E-mail: disha.kasliwal@icicibank.com
Nature of instrument creating charge	Constructive Memorandum of Entry dated 28th February, 2012 and Declaration dated 27th February 2012
Date of instrument Creating the charge	28.02.2012
Amount secured by the charge	Rs.155.000 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 charge Second charge on commercial property unit located at The Capital, BKC, Mumbai.-Address - Unit No 110 The Capital, BKC Plot No C 70 , G Block Bandra East Mumbai. Others As per sanction terms.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Second charge on commercial property unit located at The Capital, BKC, Mumbai.-Address - Unit No 110 The Capital, Bkc Plot No C 70, G Block Bandra East Mumbai.
Particulars of the present modification	Previously charge was created on Current assets, now extending charge on Immovable property i.e. commercial property unit located at The Capital, BKC, Mumbai.-Address - Unit No 110 The Capital , BKC Plot No C 70 , G Block Bandra East Mumbai.

FIXED ASSETS

· Building

· Plant and Machinery

· Office Equipments

· Computer Equipments

· Furniture and Fixtures

· Vehicles

· Leasehold Improvements

· Computer Software

· Patents Trademarks Design

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.59.73
UK Pound	1	Rs.91.82
Euro	1	Rs.78.23

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.