MIRA INFORM REPORT

Report Date :

08.04.2014

IDENTIFICATION DETAILS

Name :	KGK DIAMONDS (INDIA) PRIVATE LIMITED
Registered Office :	DE-4011-4016, Tower D, 4^th Floor, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.10.2009
Com. Reg. No.:	11-196167
Capital Investment / Paid-up Capital :	Rs.279.600 Millions
CIN No.: [Company Identification No.]	U36911MH2009PTC196167
TAN No.: [Tax Deduction & Collection Account No.]	MUMK19593A
PAN No.: [Permanent Account No.]	AADCK7579A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Cut and Polished Diamonds.
No. of Employees :	Not Available

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 10100000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal business dealing 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	CRISIL
Rating	Long Term Rating: BBB
Rating Explanation	Have Moderate degree of safety and carry moderate credit risk.
Date	31.01.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating: A3+
Rating Explanation	Have Moderate degree of safety and carry higher credit risk.
Date	31.01.2014

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 DECLINED

MANAGEMENT NON CO-OPERATIVE

Contact No.: 91-22-40799999

LOCATIONS

Registered/ Head Office :	DE-4011-4016, Tower D, 4^th Floor, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-40799999/ 40077777
Fax No.:	91-22-40799800/ 26755310/ 40077700
E-Mail :	dhara.jain@kgkmail.com enquiry.india@kgkmail.com abhishek.jakhetiya@kgmail.com sampat.kothari@kgkmail.com enquiry.diaindia@kgkmail.com nitin.dhadda@kgkmail.com
Website :	www.kgkgroup.com
Corporate Office :	1501, Panchratna, Opera House, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-40077777/ 23673939/ 23679251
Fax No.:	91-22-23696058
Accounts and Admin Office :	KGK Tower, 5^th Floor, Near Ekta Bhoomi Garden, Dutta Pada Road, Rajendra Nagar, Borivali (East), Mumbai – 400066, Maharashtra, India
Tel No.:	91-22-28701501/ 40288888
Fax No.:	91-22-28547666
Email :	accounts.india@kgkmail.com
Branch Office :	2^nd Floor, Millenium Diamond Complex, Hiranandan Society Hira Baug Varachha Road, Mumbai, Maharashtra, India
Sales Offices :	Located at: · USA · Belgium · Italy · Thailand · Shanghai · China · Hong Kong · Japan · Russia · South Africa · UAE · Israel · New York

DIRECTORS

(AS ON 30.09.2013)

Name :

Mr. Navrattan Kothari

Designation :

Director

Address :

401, Khatau Condominium, 15-A, J. Mehta Marg, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

27.06.1942

Date of Appointment :

01.10.2009

DIN No.:

00137063

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	U51900MH1984PTC032788	KGK DIAJEWELS PRIVATE LIMITED	Director	13/08/1985	13/08/1985	-	Active	NO
2	U67120MH1985PTC037351	KAYGEE HOLDINGS PRIVATE LIMITED	Director	03/09/1985	03/09/1985	-	Active	NO
3	U70100MH1988PTC046524	PRECIOUS PROPERTIES PRIVATE LIMITED	Director	13/02/1989	13/02/1989	-	Active	NO
4	U36912MH1989PTC054783	KOTHARI DIAMOND INDUSTRIES PRIVATE LIMITED	Director	28/12/1989	28/12/1989	-	Active	NO
5	U36910MH1990PTC054834	NAVRATNA GEMS PRIVATE LIMITED	Director	02/01/1990	02/01/1990	-	Active	NO
6	U67120MH1983PTC031248	POPULAR INVESTMENTS PRIVATE LIMITED	Director	15/05/1991	15/05/1991	-	Active	NO
7	U36911MH1990PTC059592	KGK JEWELLERY PRIVATE LIMITED	Director	12/08/1993	12/08/1993	-	Active	NO
8	U29269MH1960PLC011589	PAPER MILL AND PLANT AND MACHINERY MANUFACTURERS LIMITED	Director	15/10/1993	15/10/1993	-	Active	NO
9	U51900MH1991PTC060185	TRISHUL COMMERCIALS PRIVATE LIMITED	Director	21/03/1994	21/03/1994	-	Active	NO
10	U99999MH1964PTC012833	KALPATARU GARDENS PRIVATE LIMITED	Director	05/07/1994	05/07/1994	01/11/2012	Active	NO
11	U67120MH1994PTC082200	KGK TRADELINKS PRIVATE LIMITED	Director	20/10/1994	20/10/1994	01/02/2012	Active	NO
12	L36999TN1994PLC028895	GOTHI PLASCON (INDIA) LIMITED	Director	09/12/1994	09/12/1994	03/05/2007	Active	NO
13	U65910MH1995PTC085359	MARUDHAR LEASE FINANCING PRIVATE LIMITED	Director	08/02/1995	08/02/1995	-	Active	NO
14	U36910MH1990PTC055961	KGK CREATIONS (MFG) PRIVATE LIMITED	Director	17/05/1995	17/05/1995	-	Active	NO
15	U55101RJ1997PTC013071	PANCHRATNA MOTELS AND RESORTS PRIVATE LIMITED	Director	02/01/1997	02/01/1997	-	Active	NO
16	U36911RJ1997PLC013181	JAIPUR GEM BOURSE LTD.,	Director	24/01/1997	24/01/1997	-	Active	NO
17	U45201RJ1996PTC012976	TANMAYA GARDENS PRIVATE LIMITED	Director	09/05/1998	09/05/1998	-	Active	NO
18	U01119RJ1995PTC009381	PRERNA AGRICULTURAL FARMS PRIVATE LIMITED	Director	09/05/1998	09/05/1998	-	Active	NO
19	U01117RJ1996PTC013020	PINKCITY GARDENS PRIVATE LIMITED	Director	09/05/1998	09/05/1998	-	Active	NO
20	U55101RJ1998PTC014617	RATNALAYA HOTELS AND DEVELOPERS PRIVATE LIMITED	Director	21/05/2001	21/05/2001	-	Active	NO
21	U45201RJ2001PTC017127	SUBAKO DEVELOPERS PRIVATE LIMITED	Director	07/08/2001	07/08/2001	-	Active	NO
22	U45201RJ2001PTC017320	KGK INFRASTRUCTURE PRIVATE LIMITED	Director	12/12/2001	12/12/2001	-	Active	NO
23	U74900RJ1997PTC014154	KGK INNOVATIVE PRIVATE LIMITED	Director	30/04/2003	30/04/2003	-	Active	NO
24	U18101MH1993PTC072859	KGK CREATIONS PROCESSING PRIVATE LIMITED	Director	12/07/2003	12/07/2003	-	Active	NO
25	U67120MH1995PTC084439	KGK DIA PROCESSING PRIVATE LIMITED	Director	18/02/2004	18/02/2004	-	Active	NO
26	U55100MH2004PTC149500	JAL MAHAL RESORTS PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
27	U70100MH1999PTC119578	KGK CREATIONS (INDIA) PRIVATE LIMITED	Director	02/02/2008	23/03/2006	-	Active	NO
28	U63040WB1994PLC062139	GLOBE FOREX AND TRAVELS LIMITED	Director	01/07/2006	01/07/2006	01/02/2008	Active	NO
29	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	28/09/2006	28/09/2006	29/09/2008	Active	NO
30	U45201RJ2005PTC020591	TRIMURTI BUILDHOME PRIVATE LIMITED	Director	30/09/2006	30/09/2006	-	Active	NO
31	U45201RJ2005PTC020299	CLASSIC BUILDTECH PRIVATE LIMITED	Director	30/09/2006	30/09/2006	01/10/2011	Active	NO
32	U45201RJ2006PTC023216	AXIS ROYAL REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	12/10/2006	12/10/2006	-	Active	NO
33	U45201RJ2006PTC023227	KGK REAL ESTATE PRIVATE LIMITED	Director	16/10/2006	16/10/2006	-	Active	NO
34	U36911RJ1988PTC004689	FINE GEMS EXPORT PRIVATE LIMITED	Director	08/06/2007	15/12/2006	-	Active	NO
35	U45201RJ2007PTC023836	SOUTHERN BUILDMART PRIVATE LIMITED	Director	12/02/2007	12/02/2007	01/10/2009	Active	NO
36	U45201RJ2007PTC023944	ANSAL JKD PEARL DEVELOPERS PRIVATE LIMITED	Director	01/03/2007	01/03/2007	01/10/2009	Active	NO
37	U17120MH1983PTC031708	MARUDHAR PROPERTIES PRIVATE LIMITED	Director	06/04/2007	06/04/2007	-	Active	NO
38	U70101RJ1998PTC015206	PRANAY CREATIONS PRIVATE LIMITED	Director	29/09/2007	23/04/2007	-	Active	NO
39	U36912MH2007PTC171061	KGK GEMS PRIVATE LIMITED	Director	22/05/2007	22/05/2007	-	Active	NO
40	U45201RJ2007PTC024462	INCREDIBLE REAL ESTATE PRIVATE LIMITED	Director	23/05/2007	23/05/2007	01/10/2009	Active	NO
41	U45400MH2007PTC171281	ANK RESOURCES PRIVATE LIMITED	Director	04/06/2007	04/06/2007	-	Active	NO
42	U45201RJ2007PTC024722	SUNMOON BUILDMART PRIVATE LIMITED	Director	11/07/2007	11/07/2007	01/10/2009	Active	NO
43	U45201RJ2007PTC024823	ROCKTUFF REAL ESTATE PRIVATE LIMITED	Director	08/08/2007	08/08/2007	-	Active	NO
44	U45201RJ2007PTC024824	SYNERGY LANDMART PRIVATE LIMITED	Director	08/08/2007	08/08/2007	18/01/2011	Active	NO
45	U45201RJ2007PTC024822	ABHINAV PROPMART PRIVATE LIMITED	Director	08/08/2007	08/08/2007	18/01/2011	Active	NO
46	U67190MH1996PTC097558	COMET PORTFOLIO SERVICES PRIVATE LIMITED	Director	17/09/2007	17/09/2007	-	Active	NO
47	U80302RJ2007NPL025326	INDIAN INSTITUTE OF GEMS AND JEWELLERY JAIPUR	Director	16/11/2007	16/11/2007	-	Active	NO
48	U45201RJ2006PTC022962	SHRI KALYAN BUILDMART PRIVATE LIMITED	Director	29/09/2008	05/01/2008	-	Active	NO
49	U45200MH2008PTC183162	KGK REALTIES PRIVATE LIMITED	Director	04/06/2008	04/06/2008	-	Active	NO
50	U45201RJ2008PTC027707	KGK INFRASTRUCTURE AND DEVELOPERS PRIVATE LIMITED	Director	10/11/2008	10/11/2008	-	Active	NO
51	U14200MH2009PTC192291	SAY RESOURCES PRIVATE LIMITED	Director	09/05/2009	09/05/2009	-	Active	NO
52	U14200MH2009PTC192284	VKK RESOURCES PRIVATE LIMITED	Director	09/05/2009	09/05/2009	-	Active	NO
53	U14200MH2009PTC192282	KGK RESOURCES PRIVATE LIMITED	Director	09/05/2009	09/05/2009	-	Active	NO
54	U36911MH2009PTC196167	KGK DIAMONDS (INDIA) PRIVATE LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO
55	U36911MH2008PTC187926	KGK ENTICE (INDIA) PRIVATE LIMITED	Director	15/09/2010	14/10/2009	-	Active	NO
56	U70109RJ1995PTC011234	MARUGANDHA FARMS PRIVATE LIMITED	Director	10/09/2011	18/11/2010	-	Active	NO
57	U70109RJ1995PTC011235	SATLUJ FARMS PRIVATE LIMITED	Director	10/09/2011	19/11/2010	-	Active	NO
58	U15203RJ1992PTC006854	KRISHNA KUNJ PRIVATE LIMITED	Director	10/09/2011	19/11/2010	-	Active	NO
59	U70109RJ1995PTC010501	LOVELY FARMS PRIVATE LIMITED	Director	10/09/2011	19/11/2010	-	Active	NO
60	U51398MH1999PTC119580	KOTHARI CREATIONS PRIVATE LIMITED	Director	30/09/2011	24/11/2010	-	Active	NO
61	U14200MH2009PTC192283	SNK RESOURCES PRIVATE LIMITED	Director	14/08/2011	01/12/2010	-	Active	NO
62	U45201RJ2010PTC033561	KGK INFRASTRUCTURE (INDIA) PRIVATE LIMITED	Whole-time director	01/10/2011	14/12/2010	-	Active	NO
63	U70101RJ1992PTC007100	KRITIKA APARTMENTS PRIVATE LIMITED	Director	10/09/2011	08/01/2011	-	Active	NO
64	U15494RJ1995PTC010352	PANNA AGRO PRIVATE LIMITED	Director	10/09/2011	08/01/2011	-	Active	NO
65	U70109RJ1995PTC010502	ROADSIDE FARMS PRIVATE LIMITED	Director	10/09/2011	08/01/2011	-	Active	NO
66	U70102MH2011PTC213983	KGK HOMES PRIVATE LIMITED	Director	29/09/2011	01/03/2011	-	Active	NO
67	U70200MH2011PTC214097	KGK DWELLINGS PRIVATE LIMITED	Director	29/09/2011	01/04/2011	-	Active	NO
68	U70101RJ2011PTC035180	DEEPAANGAN DEVELOPERS PRIVATE LIMITED	Director	12/05/2011	12/05/2011	01/10/2012	Active	NO
69	U70101RJ2011PTC035253	NAMOKAR LANDCON PRIVATE LIMITED	Director	20/05/2011	20/05/2011	09/07/2012	Active	NO
70	U45201RJ2011PTC035250	DEEPPRABHA DEVELOPERS PRIVATE LIMITED	Director	20/05/2011	20/05/2011	01/10/2012	Active	NO
71	U45201RJ2011PTC035451	DEEPAANGAN LAND DEVELOPERS PRIVATE LIMITED	Director	09/06/2011	09/06/2011	01/10/2011	Active	NO
72	U45201RJ2011PTC036390	NAMOKAR BUILDESTATE PRIVATE LIMITED	Director	07/09/2011	07/09/2011	01/10/2011	Active	NO
73	U45200MH2004PTC149191	KGK CREATIONS PRIVATE LIMITED	Additional director	01/04/2013	01/04/2013	-	Active	NO
74	U45201RJ2013PTC042112	KGK PROPERTIES (INDIA) PRIVATE LIMITED	Director	15/04/2013	15/04/2013	-	Active	NO

Name :

Mr. Sandeep Navrattan Kothari

Designation :

Director

Address :

401, Khatau Condominium, 15-A, J. Mehta Marg, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

08.11.1971

Date of Appointment :

01.10.2009

Pan No.:

AADPK0011A

DIN No.:

00137694

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	U36910MH1990PTC054834	NAVRATNA GEMS PRIVATE LIMITED	Director	02/05/1991	02/05/1991	24/11/2010	Active	NO
2	U36912MH1989PTC054783	KOTHARI DIAMOND INDUSTRIES PRIVATE LIMITED	Director	02/05/1991	02/05/1991	24/11/2010	Active	NO
3	U67120MH1983PTC031248	POPULAR INVESTMENTS PRIVATE LIMITED	Director	15/05/1991	15/05/1991	13/09/2012	Active	NO
4	U51900MH1984PTC032788	KGK DIAJEWELS PRIVATE LIMITED	Director	11/05/1992	11/05/1992	-	Active	NO
5	U51900MH1991PTC060185	TRISHUL COMMERCIALS PRIVATE LIMITED	Director	21/03/1994	21/03/1994	13/09/2012	Active	NO
6	U67120MH1994PTC082200	KGK TRADELINKS PRIVATE LIMITED	Director	20/10/1994	20/10/1994	01/02/2012	Active	NO
7	U65910MH1995PTC085359	MARUDHAR LEASE FINANCING PRIVATE LIMITED	Director	08/02/1995	08/02/1995	10/09/2012	Active	NO
8	U36910MH1990PTC055961	KGK CREATIONS (MFG) PRIVATE LIMITED	Director	17/05/1995	17/05/1995	24/11/2010	Active	NO
9	U29269MH1960PLC011589	PAPER MILL AND PLANT AND MACHINERY MANUFACTURERS LIMITED	Director	22/11/1995	22/11/1995	-	Active	NO
10	U51398MH1999PTC119580	KOTHARI CREATIONS PRIVATE LIMITED	Director	23/04/1999	23/04/1999	13/09/2012	Active	NO
11	U74900RJ1997PTC014154	KGK INNOVATIVE PRIVATE LIMITED	Director	20/12/1999	20/12/1999	13/09/2012	Active	NO
12	U51109RJ1996PTC012589	JAIPUR AUTOMOBILES PRIVATE LIMITED	Director	20/12/1999	20/12/1999	22/09/2012	Active	NO
13	U18101MH1993PTC072859	KGK CREATIONS PROCESSING PRIVATE LIMITED	Director	30/06/2003	30/06/2003	13/09/2012	Active	NO
14	U67120MH1995PTC084439	KGK DIA PROCESSING PRIVATE LIMITED	Director	18/02/2004	18/02/2004	06/01/2011	Active	NO
15	U45200MH2004PTC149191	KGK CREATIONS PRIVATE LIMITED	Director	21/10/2004	21/10/2004	22/01/2007	Active	NO
16	U55100MH2004PTC149500	JAL MAHAL RESORTS PRIVATE LIMITED	Director	10/11/2004	10/11/2004	09/01/2012	Active	NO
17	U45201RJ1996PTC012976	TANMAYA GARDENS PRIVATE LIMITED	Director	29/09/2005	29/09/2005	-	Active	NO
18	U01117RJ1996PTC013020	PINKCITY GARDENS PRIVATE LIMITED	Director	29/09/2005	29/09/2005	-	Active	NO
19	U01119RJ1995PTC009381	PRERNA AGRICULTURAL FARMS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
20	U55101RJ1997PTC013071	PANCHRATNA MOTELS AND RESORTS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
21	U63040WB1994PLC062139	GLOBE FOREX AND TRAVELS LIMITED	Director	01/07/2006	01/07/2006	04/09/2008	Active	NO
22	U36912MH2007PTC171061	KGK GEMS PRIVATE LIMITED	Director	22/05/2007	22/05/2007	13/09/2012	Active	NO
23	U45400MH2007PTC171281	ANK RESOURCES PRIVATE LIMITED	Director	04/06/2007	04/06/2007	10/09/2012	Active	NO
24	U45201RJ2001PTC017127	SUBAKO DEVELOPERS PRIVATE LIMITED	Director	29/09/2008	20/05/2008	-	Active	NO
25	U45200MH2008PTC183162	KGK REALTIES PRIVATE LIMITED	Director	04/06/2008	04/06/2008	12/09/2012	Active	NO
26	U14200MH2009PTC192282	KGK RESOURCES PRIVATE LIMITED	Director	09/05/2009	09/05/2009	10/09/2012	Active	NO
27	U14200MH2009PTC192283	SNK RESOURCES PRIVATE LIMITED	Director	09/05/2009	09/05/2009	-	Active	NO
28	U36911MH2009PTC196167	KGK DIAMONDS (INDIA) PRIVATE LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO
29	U45201RJ2013PTC041820	KGK PROJECTS (INDIA) PRIVATE LIMITED	Director	15/03/2013	15/03/2013	-	Active	NO

Name :

Mr. Sampat Raj Kothari

Designation :

Director

Address :

503, 5^th Floor, Rajkamal Heights, B-Wing, Rajkamal Lane, Parel [East], Mumbai – 400012, Maharashtra, India

Date of Birth/Age :

01.07.1953

Date of Appointment :

30.12.2010

DIN No.:

00139498

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	U74900RJ1997PTC014154	KGK INNOVATIVE PRIVATE LIMITED	Director	05/06/2003	05/06/2003	-	Active	NO
2	U70100MH1999PTC119578	KGK CREATIONS (INDIA) PRIVATE LIMITED	Director	06/02/2004	06/02/2004	-	Active	NO
3	U18101MH1993PTC072859	KGK CREATIONS PROCESSING PRIVATE LIMITED	Director	07/12/2004	07/12/2004	-	Active	NO
4	U45200MH2004PTC149191	KGK CREATIONS PRIVATE LIMITED	Director	22/12/2004	22/12/2004	22/01/2007	Active	NO
5	U45201MH2001PTC130706	RAINBOW CONSTRUCTIONS AND DEVELOPERS (INDIA) PRIVATE LIMITED	Director	01/04/2005	01/04/2005	-	Active	NO
6	U52393MH1999PTC121627	KOTHARI GEMS PRIVATE LIMITED	Director	09/05/2005	09/05/2005	30/04/2011	Active	NO
7	U51398MH1999PTC119580	KOTHARI CREATIONS PRIVATE LIMITED	Director	10/01/2006	10/01/2006	-	Active	NO
8	U65910MH1995PTC085359	MARUDHAR LEASE FINANCING PRIVATE LIMITED	Director	10/02/2006	10/02/2006	-	Active	NO
9	U36912MH2007PTC171061	KGK GEMS PRIVATE LIMITED	Director	22/05/2007	22/05/2007	-	Active	NO
10	U45400MH2007PTC171281	ANK RESOURCES PRIVATE LIMITED	Director	30/09/2011	04/06/2007	-	Active	NO
11	U36911MH2008PTC187926	KGK ENTICE (INDIA) PRIVATE LIMITED	Director	03/11/2008	03/11/2008	-	Active	NO
12	U72900TN2009PTC071933	SPARKLE SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	30/09/2011	12/06/2009	-	Active	NO
13	U36911MH2009PTC196167	KGK DIAMONDS (INDIA) PRIVATE LIMITED	Director	30/12/2010	12/08/2010	-	Active	NO
14	U67120MH1994PTC082200	KGK TRADELINKS PRIVATE LIMITED	Director	21/09/2010	12/08/2010	-	Active	NO
15	U51900MH1984PTC032788	KGK DIAJEWELS PRIVATE LIMITED	Director	21/09/2010	12/08/2010	-	Active	NO
16	U67120MH1985PTC037351	KAYGEE HOLDINGS PRIVATE LIMITED	Director	30/09/2011	06/01/2011	-	Active	NO
17	U70100MH1988PTC046524	PRECIOUS PROPERTIES PRIVATE LIMITED	Director	29/09/2011	06/01/2011	-	Active	NO
18	U67120MH1983PTC031248	POPULAR INVESTMENTS PRIVATE LIMITED	Director	23/09/2011	06/01/2011	-	Active	NO
19	U67120MH1995PTC084439	KGK DIA PROCESSING PRIVATE LIMITED	Director	29/09/2011	06/01/2011	-	Active	NO
20	U36912MH1989PTC054783	KOTHARI DIAMOND INDUSTRIES PRIVATE LIMITED	Director	29/09/2011	06/01/2011	-	Active	NO
21	U14200MH2009PTC192284	VKK RESOURCES PRIVATE LIMITED	Director	30/09/2011	07/01/2011	-	Active	NO
22	U51900MH1991PTC060185	TRISHUL COMMERCIALS PRIVATE LIMITED	Director	30/09/2011	07/01/2011	-	Active	NO
23	U14200MH2009PTC192291	SAY RESOURCES PRIVATE LIMITED	Director	30/09/2011	07/01/2011	-	Active	NO
24	U14200MH2009PTC192282	KGK RESOURCES PRIVATE LIMITED	Director	30/09/2011	07/01/2011	-	Active	NO
25	U14200MH2009PTC192283	SNK RESOURCES PRIVATE LIMITED	Director	14/08/2011	07/01/2011	-	Active	NO
26	U45200MH2008PTC183162	KGK REALTIES PRIVATE LIMITED	Director	22/09/2011	07/01/2011	-	Active	NO
27	U70102MH2011PTC213983	KGK HOMES PRIVATE LIMITED	Director	29/09/2011	01/03/2011	-	Active	NO
28	U70200MH2011PTC214097	KGK DWELLINGS PRIVATE LIMITED	Director	29/09/2011	01/04/2011	-	Active	NO
29	U45201RJ2011PTC036390	NAMOKAR BUILDESTATE PRIVATE LIMITED	Director	29/09/2012	01/10/2011	-	Active	NO
30	U36911MH1989PTC051646	ALOK IMPEX PRIVATE LIMITED	Additional director	04/10/2011	04/10/2011	31/03/2012	Active	NO
31	U36911MH1989PTC051647	RATNALAYA DIAMONDS PRIVATE LIMITED	Additional director	25/02/2012	25/02/2012	23/08/2012	Active	NO

Name :

Mr. Nitin Dhadda

Designation :

Additional Director

Address :

212, Chandralok –B, Manav Mandir Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

17.05.1976

Date of Appointment :

10.03.2014

DIN No.:

02542528

KEY EXECUTIVES

Name :	Dhara Prakash Jain
Designation :	Secretary
Address :	Pawapuri Sty, A-Wing, Seth Moti Shah Lane, Byculla, Mumbai – 400010, Maharashtra, India
Date of Birth/Age :	04.12.1986
Date of Appointment :	20.09.2010
PAN No.:	ALNPJ0120E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2013)

Names of Equity Shareholders	No. of Shares
Sandeep Navrattan Kothari	8000000
KGK Diajewels Private Limited, w.e.f.11.01.2011 (Formerly Known as Kaygee Impex Private Limited), India	3500000
Navrattan Kothari	800000
Anila Kothari	800000
Sanjay Kothari	4611977
Manju Kothari	934933
Preeti Kothari	5800000
Precious Investment (HK) Limited, Hong Kong	2990644
Total	27437554

Names of Preference Shareholder	No. of Shares
Precious Investment (HK) Limited, Hong Kong	522453
Total	522453

(AS ON 30.09.2013)

Equity Shares Break – up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	10.90
Bodies corporate	12.76
Directors or relatives of directors	76.34
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Cut and Polished Diamonds.

Products :

Products Description	Item Code No.
Cut and Polished Diamonds	71023910

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ICICI Bank Limited,

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· The Royal Bank of Scotland N.V.,

North Avenue 4, Maker Maxity, Level 3, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

· Standard Charted Bank,

90, M. G. Road, Fort, Mumbai – 400001, Maharashtra, India

· IDBI Bank Limited,

224, A-Wing, Mittal Court, Nariman Point, Mumbai – 400021, Maharashtra, India

· Antwerp Diamond Bank N.V,

2^nd Floor, Engineering Centre, Mathew Road, Opera House, Mumbai – 400004, Maharashtra, India

· ABN Amro Bank NV.

74, Sakhar Bhavan, 7^th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India

· Yes Bank Limited

9^th Floor, Nehru Centre, discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

· Canara Bank

· Development Credit Bank Limited

· Royal Bank of Scotland N.V.

Facilities :

Secured Loans	31.03.2013	31.03.2012
	(Rs. In Millions)
Long Term Borrowings
Term loans from banks (Hypothecation of property situated at BKC)	214.593	0.000
Short Term Borrowings
Rupee term loans from banks	21.784	78.227
Foreign currency term loans from banks	6199.613	4742.310
Total	6435.990	4820.537

Banking Relations :	--
Auditors :
Name :	Sudit K Parekh and Company Chartered Accountants
Address :	Ballard House, 2^nd Floor, Adi Marzban Path, Ballard Pler, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-66178000
Fax No.:	91-22-66178002
E-Mail :	admin@skparekh.com
PAN No.:	AAAFS4500P
Subsidiaries :	· Alok Impex Private Limited (w.e.f. 29/05/2010) [U36911MH1989PTC051646] · Kothari Diamonds Industries Private Limited (w.e.f. 28/12/2010) [U36912MH1989PTC054783] · KGK Diamonds Inc. · KGK Gems Private Limited (w.e.f. 28/12/2010) [U36912MH2007PTC171061] · KGK Innovative Private Limited (w.e.f. 27/12/2010) [U45201RJ1997PTC014154] · KGK Dia Processing Private Limited (Formerly Known as Shubham Amusements Private Limited) [U67120MH1995PTC084439] · KGK Homes Private Limited (w.e.f 22/03/2011) [U70102MH2011PTC213983] · Unique Diamonds Private Limited (w.e.f 29/05/2010) [U36912MH1988PTC049022]
Key Managerial Personnel and/or their relatives exercise significant influence :	· Jaipur Automobiles Private Limited · Jal Mahal Resorts Private Limited · KGK Gems · Kothari Gems · KGK Diajewels Private Limited · Kaygee Holdings Private Limited · KGK Creations Private Limited · KGK Creations (India) Private Limited · KGK Diamonds Company Limited · KGK Diamonds and Jewellery LLC · KGK Diamonds (Far East) Inc. · KGK Diamonds BVBA · KGK Diamonds (Shanghai) Limited · KGK Diamonds (HK) Limited · KGK Diamonds LLC · K.G.K Investment Company Private Limited · KGK Jewellery Private Limited · KGK Jewellery Inc. · KGK Jewellery (HK) Limited · KGK Jewellery Manufacturing Limited · KGK Properties Private Limited · KGK Star Rough Pty Limited · KGK Jewels (Pty.) Limited · DDK LLC · KGK Diamonds (Pty) Limited · Kothari Creations Private Limited · Kothari Jewels Private Limited · Navratna Gems Private Limited · Popular Investments Private Limited · Ratnalaya Diamonds Private Limited · KGK Homes Private Limited · Say Resources Private Limited · KGK Kothari and Sons. · SNK Resources Private Limited · Precious Investments (HK) Limited · KGK Entice (India) Private Limited

CAPITAL STRUCTURE

(AS ON 30.09.2013)

Authorised Capital :

No. of Shares	Type	Value	Amount
38000000	Equity Shares	Rs.10/- each	Rs.380.000 Millions
2000000	Preference Shares	Rs.10/- each	Rs.20.000 Millions
	Total		Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
27437554	Equity Shares	Rs.10/- each	Rs.274.376 Millions
522453	Preference Shares	Rs.10/- each	Rs.5.224 Millions
	Total		Rs.279.600 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	279.600	258.015
(b) Reserves & Surplus	2233.533	1683.828
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1)+(2)	2513.133	1941.843
(3) Non-Current Liabilities
(a) long-term borrowings	922.105	840.125
(b) Deferred tax liabilities (Net)	0.359	0.373
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	6.181	5.201
Total Non-current Liabilities (3)	928.645	845.699
(4) Current Liabilities
(a) Short term borrowings	6221.397	4820.537
(b) Trade payables	4268.428	2600.205
(c) Other current liabilities	191.431	105.999
(d) Short-term provisions	0.326	0.409
Total Current Liabilities (4)	10681.582	7527.150
TOTAL	14123.360	10314.692
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	379.621	247.241
(ii) Intangible Assets	1.331	0.092
(iii) Capital work-in-progress	475.316	15.718
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	69.269	72.234
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	816.099	853.689
(e) Other Non-current assets	3.395	3.152
Total Non-Current Assets	1745.031	1192.126
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	5354.545	4491.843
(c) Trade receivables	6579.052	4496.393
(d) Cash and cash equivalents	399.880	75.201
(e) Short-term loans and advances	43.581	59.129
(f) Other current assets	1.271	0.000
Total Current Assets	12378.329	9122.566
TOTAL	14123.360	10314.692

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		195.000
2] Share Application Money		430.306
3] Reserves & Surplus		264.407
4] (Accumulated Losses)		0.000
NETWORTH		889.713
LOAN FUNDS
1] Secured Loans		3478.031
2] Unsecured Loans		941.587
TOTAL BORROWING		4419.618
DEFERRED TAX LIABILITIES		0.000
TOTAL		5309.331
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		130.075
Capital work-in-progress		56.781
INVESTMENT		57.426
DEFERRED TAX ASSETS		0.269
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2082.676
	Sundry Debtors	4106.831
	Cash & Bank Balances	64.951
	Other Current Assets	12.222
	Loans & Advances	1092.834
Total Current Assets		7359.514
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2016.786
	Other Current Liabilities	25.346
	Provisions	252.602
Total Current Liabilities		2294.734
Net Current Assets		5064.780
MISCELLANEOUS EXPENSES		0.000
TOTAL		5309.331

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		TOTAL	15314.863	13350.500	11348.816
Less	EXPENSES
		TOTAL	15042.053	13082.583	11157.576
	PROFIT BEFORE TAX		272.810	267.917	191.240
Less	TAX		90.046	86.941	63.711
	PROFIT AFTER TAX		182.764	180.976	127.529
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		350.383	169.407	41.878
	BALANCE CARRIED TO THE B/S		533.147	350.383	169.407
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	100.894	101.269	8425.091
	TOTAL EARNINGS		100.894	101.269	8425.091
	IMPORTS
		Raw Materials	7168.636	5826.180
		Stores & Spares	1.266	1.996
		Capital Goods	81.972	37.762
	TOTAL IMPORTS		7251.874	5865.938	5273.467
	Earnings Per Share (Rs.)		6.54	7.01	--

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.19	1.36	1.12
Return on Total Assets (PBT/Total Assets}	(%)	2.01	2.62	2.55
Return on Investment (ROI) (PBT/Networth)		0.11	0.14	0.21
Debt Equity Ratio (Total Debt/Networth)		2.84	2.92	4.97
Current Ratio (Current Asset/Current Liability)		1.16	1.21	3.21

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)
Share Capital	258.015	279.600
Reserves & Surplus	1683.828	2233.533
Net worth	1941.843	2513.133
long-term borrowings	840.125	922.105
Short term borrowings	4820.537	6221.397
Total borrowings	5660.662	7143.502
Debt/Equity ratio	2.915	2.842

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Total Income	11348.816	13350.500	15314.863
		17.638	14.714

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Total Income	11348.816	13350.500	15314.863
Profit	127.529	180.976	182.764
	1.12%	1.36%	1.19%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last 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
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	Yes

UNSECURED LOANS

Particulars	31.03.2013	31.03.2012
	(Rs. In Millions)
Long Term Borrowings
Loans and advances from directors	222.305	365.656
Loans and advances from others	485.207	474.469
Total	707.512	840.125

OPERATIONS/STATE OF AFFAIRS:

On the back drop of challenging economic environment in 2012-13, where the GDP growth was only around 5%, the Company tuned out a very good performance. In comparison to last year, the Company’s sales has grown by 15% from Rs.13330.000 Millions in F.Y. 2011-12 to Rs.15300.000 Millions in F.Y. 2012-13. During the year, the Company has shown its presences in the local market, this can be evident from the fact that local sales of the Company has grown by 65% from last F.Y. 2011-12 on year on year basis. The Exports of the Company have also been increased by 2% from last F.Y. 2011-12. The Profit before tax of Company has shown raised by 2 % as compared to Rs.272.800 Millions in Current F.Y. to Rs.267.900 Millions in the previous year and the net profit has also risen by 1%.

During the year, there is outflow of 816.400 Millions from operations. After payments towards capital expenditure, interest, inflows of borrowing and increase in share capital, the net cash accruals was Rs.324.600 Millions. The Finance cost has been increased in the current F.Y. 2012-13 by 14% i.e. Rs.346.100 Millions from 238.500 Millions in the previous F.Y. 2011-12, due to increase in the interest rate during the year. During the year, the company has repaid the interest free unsecured borrowings amounting to Rs.132.600 Millions and at the same time has availed a Secured long term loan amounting to Rs.250.000 Millions, bearing 12% interest rate. The Short term borrowings have been increased by an amount of Rs.1400.000 Millions during the year i.e. Rs.4820.000 Millions in the previous F.Y. 2011-12 as compared to Rs.6220.000 Millions in the current F.Y. 2012-13. The Company has increased its fixed assets base from Rs.181.900 Millions and Rs.459.600 Millions towards capital work in progress in the year under to negative net review. Due worth of one of its foreign subsidiary named KGK Diamonds, INC in USA, the Company has made provision for diminution in the entire value of investment of Rs.2.965 Millions. Lastly there has been an increase in the net worth of the Company by an amount of Rs.570.000 Millions. It depict that this year was in favour of the Company.

NOTE:

The registered office of the company has been shifted from DE-4011-4016, Bharat Diamond Bourse, bandra Kurla complex, Bandra (East), Mumbai – 400051, Maharashtra, India to the present w.e.f. 07.12.2012

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/ MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10413331	27/02/2013	250,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA	B71294946
2	10372206	30/07/2012	2,250,000,000.00	STANDARD CHARTERED BANK	ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA	B56188477
3	10359699	21/05/2012	200,000,000.00	THE ROYAL BANK OF SCOTLAND N.V.	7TH FLOOR, SAKHAR BHAVAN, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	B40918385
4	10248395	11/08/2010	200,000,000.00	IDBI BANK LIMITED	224-A, WING, MITTAL COURT, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	A93554210
5	10183308	10/08/2012 *	3,300,000,000.00	THE ROYAL BANK OF SCOTLAND N.V.	NORTH AVENUE 4, MAKER MAXITY, LEVEL 3, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA	B56683147
6	10234536	01/10/2009	300,000,000.00	ANTWERP DIAMOND BANK N.V	2ND FLOOR, ENGINEERING CENTRE, MATHEW ROAD, OPERA HOUSE, MUMBAI - 400004, MAHARASHTRA, INDIA	A78782505
7	10187035	01/10/2009	310,000,000.00	CANARA BANK	GROUND FLOOR, DALAMAL TOWER, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	A73556995

* Date of charge modification

FIXED ASSETS:

· Plant and Machinery

· Mettler Machine

· Furniture and Fixture

· Air Conditioner

· Refrigerator

· Typewriter

· Office Equipment

· Motor Car

· Vehicle

· Cycle

· Computer

· Electronic Time Punching

· EPABX

· Vacuum Cleaner

· Electrical Installation

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.

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 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.59.95
UK Pound	1	Rs.99.36
Euro	1	Rs.82.15

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	NO
--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	--

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