MIRA INFORM REPORT

Report Date :

07.04.2014

IDENTIFICATION DETAILS

Name :	HARI KRISHNA EXPORTS PRIVATE LIMITED
Registered Office :	Unit No.1701, "The Capital", 17th Floor, B-Wing, Plot No.C-70, Bandra - Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	16.02.2012
Com. Reg. No.:	11-227014
Capital Investment / Paid-up Capital :	Rs.1133.550 Millions
CIN No.: [Company Identification No.]	U36912MH2012PTC227014
TAN No.: [Tax Deduction & Collection Account No.]	MUMH13959B
PAN No.: [Permanent Account No.]	AACCH8430N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Importer and Exporter of Diamond
No. of Employees :	6000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 14098000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating reflects company’s established track record of business operations supported by diversified clientele base across geographies and sound general financial position. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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’s current account deficit for the fiscal third quarter ended September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and moderation in gold imports. Manufacturing activity and new orders in India showed their strongest growth in a year in February. The news comes as a relief after data showed Asia’s third largest economy grew by a slower-than-expected 4.7 % annually in the three months through December. The HSBC Manufacturing Purchasing Managers’ Index which gauges the business activity of India’s factories but not its’ utilities, rose to 52.5 in February, its highest in a year from 51.4 in January. Overall new orders for factory goods which rose to a one-year high of 54.9 contributed to the surge. China has emerged as India’s biggest trading partner in the current financial year replacing the United Arab Emirates and pushing it to the third spot. India-China trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The US comes second at $46 billion with 8.1 % share during the first nine months of the current financial year.

The Reserve Bank of India has granted an additional nine months to the public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000 denominations, pushing the deadline to January 1, 2015. A day before dates for the Lok Sabha polls were announced, the government decided to hike interest rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The new rates will be effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s appeal against a ruling over transferring ownership of its local mobile phones plant which is the subject of a tax dispute to Microsoft Corp.

In the last days of the current Government, another scam has surfaced. The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau of Investigation will look into allegations that over $80 million was paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners. The aircraft has experienced a series of malfunctions since its debut in 2011.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	October 08, 2013

Rating Agency Name	CARE
Rating	Short term bank facilities A3+
Rating Explanation	Moderate degree of safety and high credit risk.
Date	October 08, 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 :	Mr. Nyandev
Designation :	Accountant
Contact No.:	91-22-49173886
Date :	02.04.2014

LOCATIONS

Registered Office :	Unit No.1701, "The Capital", 17th Floor, B-Wing, Plot No.C-70, Bandra - Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Tel. No. :	91-22-49173886
Fax No. :	91-22-23643266
E-Mail :	mukeshshah@diamondbyhk.com info@diamondbyhk.com modivijay1956@gmail.com dnyandeo@diamondbyhk.com account@diamondbyhk.com
Website :	http://www.diamondbyhk.com
Area :	Owned
Corporate Office :	315, Prasad Chambers, Opera House, Mumbai – 400004, Maharashtra, India
Tel. No. :	91-22-43004300 / 23678111 / 23678112 / 23678113
Fax No. :	91-22-23643266
Factory / Branch Office:	9, Hari Krishana Campus, Near Viraj Chowk, Behind Sarthana Jakat Naka, Varaccha Road, Simada Gam, Surat – 395006, Gujarat, India
Tel. No.:	91-261-6544251 / 6544252
Fax No.:	91-261-2535027
E-Mail :	surat@diamondbyhk.com
Overseas Office :	Located At New York Belgium Hong Kong China

DIRECTORS

As on 28.09.2013

Name :

Mr. Ghanshyambhai Dhanjibhai Dholakia

Designation :

Managing Director

Address :

Flat No. 62-6 Mont Blanc Bld, Dadyseth Hill, 572, Augustkranti Marg, Mumbai – 400036, Maharashtra India

Date of Birth/Age :

01.06.1969

Date of Appointment :

01.10.2012

DIN No. :

01474986

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	U36911MH2009PTC193278	H. K. JEWELS PRIVATE LIMITED	Director	12/06/2009	12/06/2009	-	Active	NO
2	U85110GJ2010PTC062765	HARIKRISHNA LIFELINE PRIVATE LIMITED	Director	27/10/2010	27/10/2010	-	Active	NO
3	U65910MH2011PTC215454	HARI KRISHNA LEASING PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
4	U36912MH2012PTC227014	HARI KRISHNA EXPORTS PRIVATE LIMITED	Managing director	01/10/2012	16/02/2012	-	Active	NO

Name :

Mr. Savjibhai Dhanjibhai Dholakia

Designation :

Whole-time Director

Address :

7 Bhagat Nagar Society, Opposite Katargam Police Station, Katargam Surat – 395004, Gujarat, India

Date of Birth/Age :

12.04.1962

Date of Appointment :

01.10.2012

DIN No. :

02069387

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	U52100GJ2008PTC053405	HARIKRISHNA RETAIL PRIVATE LIMITED	Director	28/03/2008	28/03/2008	05/06/2008	Strike off	NO
2	U36911MH2009PTC193278	H. K. JEWELS PRIVATE LIMITED	Director	12/06/2009	12/06/2009	-	Active	NO
3	U85110GJ2010PTC062765	HARIKRISHNA LIFELINE PRIVATE LIMITED	Director	27/10/2010	27/10/2010	-	Active	NO
4	U65910MH2011PTC215454	HARI KRISHNA LEASING PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
5	U36912MH2012PTC227014	HARI KRISHNA EXPORTS PRIVATE LIMITED	Whole-time director	01/10/2012	16/02/2012	-	Active	NO
6	U85190GJ2011PTC065609	DISHA EMOTIONAL GYM PRIVATE LIMITED	Director	17/05/2013	17/05/2013	-	Active	NO

Name :

Mr. Hasmukh Thakersibhai Dholakia

Designation :

Whole-time Director

Address :

201, 2^nd Floor, Yash Co-Operative Society, August Kranti Marg, Gowalia Tank, Mumbai - 400026 Maharashtra, India

Date of Birth/Age :

01.03.1974

Date of Appointment :

16.02.2012

DIN No. :

01474973

Name :

Mr. Tulsibhai Dhanjibhai Dholakia

Designation :

Whole-time Director

Address :

7 Bhagat Nagar Society, Opposite Katargam Police Station, Katargam Surat – 395004, Gujarat, India

Date of Birth/Age :

15.04.1964

Date of Appointment :

01.10.2012

DIN No. :

03268245

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	U85110GJ2010PTC062765	HARIKRISHNA LIFELINE PRIVATE LIMITED	Director	27/10/2010	27/10/2010	-	Active	NO
2	U36912MH2012PTC227014	HARI KRISHNA EXPORTS PRIVATE LIMITED	Whole-time director	01/10/2012	16/02/2012	-	Active	NO

Name :

Kuravas Balakrishnan Rajgopalan

Designation :

Director

Date of Appointment :

01.10.2012

DIN No. :

06416811

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2013

Names of Shareholders (Equity Shares)	No. of Shares
Ghanshyambhai Dhanjibhai Dholakia	198800
Savjibhai Dhanjibhai Dholakia	2286200
Hasmukh Thakersibhai Dholakia	2683800
Himmatbhai D. Dholakia	1888600
Tulsibhai Dhanjibhai Dholakia	2286200
Naresh Lunagaria	298200
Bharatbhai Patel	298200
Total	9940000

Names of Shareholders (Redeemable Preferences Shares)	0%	12%	6%
Ghanshyambhai Dhanjibhai Dholakia	1268301	--	--
Savjibhai Dhanjibhai Dholakia	14585461	1700000	14000000
Hasmukh Thakersibhai Dholakia	17122063	2800000	12000000
Himmatbhai D. Dholakia	12048859	500000	4000000
Tulsibhai Dhanjibhai Dholakia	14585461	--	5000000
Naresh Lunagaria	1902451	--	--
Bharatbhai Patel	1902451	--	--
Total	9940000	5000000	35000000

As on 21.03.2014

Names of Allottee (Equity Shares)	No. of Shares
Savjibhai D. Dholakia	108000
Ghanshyambhai Dhanjibhai Dholakia	92000
Tulsibhai Dhanjibhai Dholakia	92000
Himmatbhai D. Dholakia	76000
Naresh Lunagaria	12000
Bharatbhai Patel	12000
Hasmukh Thakersibhai Dholakia	8000
Total	400000

As on 30.10.2013

Names of Allottee (6% Redeemable Preferences Shares)	No. of Shares
Himmatbhai D. Dholakia	1000000
Tulsibhai Dhanjibhai Dholakia	6000000
Total	7000000

As on 28.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Importer and Exporter of Diamond
Exports :
Products :	Diamonds
Countries :	USA Hong Kong Israel Singapore Japan
Imports :
Products :	Raw Material
Countries :	Russia Belgium Israel
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

6000 (Approximately)

Bankers :

• State Bank of India, Diamond Branch, Mumbai, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from bank	279.209	0.000
Other loans and advances	1.147	0.453
SHORT TERM BORROWINGS
Working Capital loans from bank	4706.817	3292.863
Total	4987.173	3293.316

Banking Relations :	--
Financial Institution :	SREI Equipment Finance Limited, Vishwakarma, 86C, Topsia Road, Kolkata – 700046, west Bengal, India
Auditors :
Name :	M. M. Nisim and Company Chartered Accountants
Address :	Mumbai, Maharashtra, India
PAN No. :
Associates	H. K. Jwewls Private Limited 3^rd Floor, WICEL Administrative Building, WICEL Compound, Opposite SEEPZ Main Gate, MIDC, Andheri (East), Mumbai – 400093, Maharashtra Tel No. : 91-22-67160000 / 67049710 Fax No.: 91-22-67049750 Email : wicel@hkinfo.com H. K. Designs (India) Unit No. 113, Plot No. 54, SDF – IV, SEEPZ-SEZ, Andheri (East), Mumbai – 400096, Maharashtra, India Tel No. : 91-22-67554444 / 67161616 Fax No.: 91-22-67161626 / 67161636 Email : mfg@jewlrybyhk.com Shree Hari Krishna Gems Harikrishna Lifeline Private Limited H. K. Diamond Polishing LLP

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 Millions
114000000	Preference Shares	Rs.10/- each	Rs.1140.000 Millions
	Total		Rs.1260.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9940000	Equity Shares	Rs.10/- each	Rs.99.400 Millions
103415047	Preference Shares	Rs.10/- each	Rs.1034.150 Millions
	Total		Rs.1133.550 Millions

After 28.09.2013

Authorised Capital : Rs. 1560.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 1207.550 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1133.550	149.400
(b) Reserves & Surplus	2320.974	1690.451
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	70.000	634.150
Total Shareholders’ Funds (1) + (2)	3524.524	2474.001
(3) Non-Current Liabilities
(a) long-term borrowings	455.919	345.466
(b) Deferred tax liabilities (Net)	37.656	25.777
(c) Other long term liabilities	2.078	2.078
(d) long-term provisions	22.105	16.010
Total Non-current Liabilities (3)	517.758	389.331
(4) Current Liabilities
(a) Short term borrowings	4706.817	3292.863
(b) Trade payables	2741.692	3584.126
(c) Other current liabilities	307.683	280.135
(d) Short-term provisions	33.801	9.218
Total Current Liabilities (4)	7789.993	7166.342
TOTAL	11832.275	10029.674
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1836.030	1095.993
(ii) Intangible Assets	95.860	115.545
(iii) Capital work-in-progress	3.700	2.440
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	34.725	9.725
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	111.202	173.790
(e) Other Non-current assets	67.201	64.934
Total Non-Current Assets	2148.718	1462.427
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	6062.022	5725.791
(c) Trade receivables	3392.517	2748.838
(d) Cash and cash equivalents	90.470	35.402
(e) Short-term loans and advances	102.096	30.061
(f) Other current assets	36.452	27.155
Total Current Assets	9683.557	8567.247
TOTAL	11832.275	10029.674

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012
	SALES	NA	NA
Less	EXPENSES	NA	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1396.420	123.777
Less	FINANCIAL EXPENSES	314.265	30.164
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1082.155	93.613
Less/ Add	DEPRECIATION/ AMORTISATION (F)	134.110	10.427
	PROFIT/ (LOSS) BEFORE TAX	948.045	83.186
Less	TAX	309.676	44.277
	PROFIT/ (LOSS) AFTER TAX	638.369	38.909
	Earnings / (Loss) Per Share (Rs.)	5.36	0.34

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	8.04	0.83
Return on Investment (ROI) (PBT/Networth)		0.27	0.03
Debt Equity Ratio (Total Debt /Networth)		1.46	1.47
Current Ratio (Current Asset/Current Liability)		1.24	1.20

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	149.400	1133.550
Reserves & Surplus	1690.451	2320.974
Net worth	1839.851	3454.524
long-term borrowings	345.466	455.919
Short term borrowings	3292.863	4706.817
Total borrowings	3638.329	5162.736
Debt/Equity ratio	1.978	1.494

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 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	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	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
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	Yes

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.

- 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 –

- Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

- The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

NOTE:

The registered address of the company has been shifted from 315, Prasad Chambers, Opera House Mumbai – 400004, Maharashtra, India to the present address w.e.f 11.02.2013

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Loans and advance from directors	169.684	345.013
Loans and advance from others	5.879	0.000
Total	175.563	345.013

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10483493	10/03/2014	150,000,000.00	UNION BANK OF INDIA	Overseas Branch, Union Bank Bhavan, Ground Floor, 239,Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra - 400021, INDIA	B98863657
2	10486790	03/03/2014	4,500,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, West Bengal - 700046, INDIA	C01126077
3	10450962	30/08/2013	150,000,000.00	State Bank of India	Diamond Branch, D-3,West Core, Bharat Diamond Bourse, BKC, Bandra -East, Mumbai, Maharashtra - 400051, INDIA	B85700789
4	10392546	12/11/2012	1,919,000.00	Axis Bank Limited	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA	B64352263
5	10375522	20/07/2012	400,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B57694846
6	10353182	14/11/2013 *	8,295,800,000.00	State Bank of India	DIAMOND BRANCH, BHARAT DIAMOND BOURSE, D3, BLDG NO.4, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, Maharashtra - 400051, INDIA	B90393463
7	10354282	14/11/2013 *	8,295,800,000.00	State Bank of India	DIAMOND BRANCH, BHARAT DIAMOND BOURSE, D3, BLDG NO.4, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, Maharashtra - 400051, INDIA	B90394180

* Date of charge modification

FINANCIAL RESULTS:

After conversion of the erstwhile partnership firm M/s Hari Krishna Export into a Pvt. Ltd. Company, the year under report is full year of operations and the directors are pleased to report satisfactory results for the Company. During the year , the Company has shifted its registered office to the spacious office premises at “The Capital”, Bandra-Kurla Complex. The new office is more customer and employee friendly and has been greeted enthusiastically by customers through repeated visits.

On the raw material front, rough sourcing has been greatly helped on account of the company being selected as sight holder by DTC for the period Apr 2012 to Mar 2015. Rio Tinto has also included the companies name under the ‘Select Diamantaire’ list, by virtue of which the

The Company is successfully participating in Indian and International trade show which results in recognition of the company in market.

Another important achievement of the company has been its becoming a certified member of the Responsible Jewellery Council. The Company also has received excellence in export award from GJEPC for the 10 years in succession.

The prudent hedging policy of the Company ensures that the performance of the Company is not adversely affected adversely, due to foreign exchange fluctuations. The Company also exercises control over inventories and thus minimise the impact of fluctuation in currency and commodity. The sales growth during the year 2012-13 has been 47% over the last year and their directors are sanguine to achieve better this rate to more than 50% this year.

FIXED ASSETS

œ Buildings

œ Plant and Equipment

œ Furniture and Fixtures

œ Vehicles

œ Office Equipment

œ Computer Equipments

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 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 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.60.32
UK Pound	1	Rs.100.04
Euro	1	Rs.82.65

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	KAR
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	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		48

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.