MIRA INFORM REPORT

Report Date :

08.12.2014

IDENTIFICATION DETAILS

Name :	M SURESH COMPANY PRIVATE LIMITED
Registered Office :	419, Parekh Market, Opera House, Mumbai – 400004, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	03.12.2004
Com. Reg. No.:	11-149806
Capital Investment / Paid-up Capital :	Rs. 133.420 Millions
CIN No.: [Company Identification No.]	U36910MH2004PTC149806
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMM25667F
PAN No.: [Permanent Account No.]	AAECM0931D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Cut and Polished Diamond.
No. of Employees :	1500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 7000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of “M SURESH GROUP “. It is a well established company having a satisfactory track. Management has failed to file latest financials of Financial Year 2014 with the satisfactory authorities. As per available records, trade relations are reported to be fair. Business is active. Payments are reported as regular and as per commitments. The company can be considered good for business dealings at usual trade terms and conditions. .

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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	Long Term Rating “A”
Rating Explanation	Adequate credit quality and average credit risk
Date	May 30, 2014

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Rahul
Designation :	Accountant Head
Contact No.:	91-22-26756010
Date :	04.12.2014

LOCATIONS

Registered Office :	419, Parekh Market, Opera House, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23639001/23636244/23801411
Fax No.:	91-22-23696492/23690176/23875107
E-Mail :	manish@msureshco.com lalit@msureshco.com mpshahms@gmail.com gangesh@msureshco.com rahul@msureshco.com
Website :	www.msureshco.com
Corporate Office :	BW- 6010, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-26756010 to 18
Fax No.:	91-22-23697721
E-Mail :	msuresh@msureshco.com
Factory / Branch :	Located At: Surat, Gujarat, India
Tel. No.:	91-261-2427021
Fax No.:	91-261-2432665
Email :	surat@msureshco.com

DIRECTORS

As on 30.09.2013

Name :

Mr. Paresh Rameshchandra Pethani

Designation :

Director

Address :

2-A, Swapnalok, L. J. Marg, Nepeansea Road, Mumbai-400036, Maharashtra, India

Date of Birth/Age :

07.11.1959

PAN No.:

AACPP0188L

Date of Appointment :

02.12.2005

DIN No.:

00014079

Others 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	U22120MH1989PTC054450	C I JEWELS PRIVATE LIMITED	Director	24/04/1998	24/04/1998	-	Active	NO
2	U65990MH2000PTC124973	SHREE GAURISHANKAR INVESTMENT PRIVATE LIMITED	Director	15/03/2000	15/03/2000	-	Amalgamated	NO
3	U36910MH2004PTC149806	M SURESH COMPANY PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active	NO
4	U45200MH2008PTC179272	AMARIS DIAMONDS & JEWELS PRIVATE LIMITED	Director	25/02/2008	25/02/2008	-	Active	NO
5	U70102MH2009PTC189654	DHAMAL BUILDERS & DEVELOPERS PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active	NO
6	U45400MH2009PTC189625	DHAMAL PROPERTIES PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active	NO
7	U45200MH2008PTC182107	REFRESH BUILDCON PRIVATE LIMITED	Director	21/09/2010	01/02/2010	-	Active	NO
8	U51900MH1994PTC082345	NIYATI EXPORTS PRIVATE LIMITED	Director	27/12/2013	27/12/2013	-	Active	NO
9	U36910MH1991PTC064190	M SURESH EXPORTS PRIVATE LIMITED	Director	27/12/2013	27/12/2013	-	Active	NO
10	U65920MH1994PTC080302	M.SURESH JEWELLERY PRIVATE LIMITED	Director	30/06/2014	27/12/2013	-	Active	NO

Name :

Mr. Lalit Chunilal Adani

Designation :

Director

Address :

3-B, Swapnalok, L. J. Marg, Nepeansea Road, Mumbai-400036, Maharashtra, India

Date of Birth/Age :

24.02.1958

PAN No.:

AAZPA8081C

Date of Appointment :

02.12.2005

DIN No.:

00014169

Others 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	U51900MH1994PTC082345	NIYATI EXPORTS PRIVATE LIMITED	Director	25/10/1994	25/10/1994	-	Active	NO
2	U22120MH1989PTC054450	C I JEWELS PRIVATE LIMITED	Director	24/04/1998	24/04/1998	-	Active	NO
3	U36910MH1991PTC064190	M SURESH EXPORTS PRIVATE LIMITED	Director	03/09/1998	03/09/1998	-	Active	NO
4	U65990MH2000PTC124973	SHREE GAURISHANKAR INVESTMENT PRIVATE LIMITED	Director	15/03/2000	15/03/2000	-	Amalgamated	NO
5	U65920MH1994PTC080302	M.SURESH JEWELLERY PRIVATE LIMITED	Director	13/02/2003	13/02/2003	-	Active	NO
6	U36912MH1995PTC094662	APEX DIAMOND EXPORTS PRIVATE LIMITED	Director	21/03/2003	21/03/2003	-	Amalgamated	NO
7	U36910MH2003PTC141086	ADORA JEWELS (INDIA) PRIVATE LIMITED	Director	27/06/2003	27/06/2003	-	Active	NO
8	U91110GJ2000NPL039065	GUJARAT HIRA BOURSE	Director	09/03/2004	09/03/2004	-	Active	NO
9	U45202PN2003PLC018435	CITY CORPORATION LIMITED	Director	02/06/2005	02/06/2005	-	Active	NO
10	U45209PN2005PTC021147	CITY REALTY & DEVELOPMENT PRIVATE LIMITED	Director	17/08/2005	17/08/2005	17/06/2010	Active	NO
11	U36910MH2004PTC149806	M SURESH COMPANY PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active	NO
12	U34102PN2004PTC019806	SKYSCAPES HOTELS PRIVATE LIMITED	Director	21/06/2007	21/06/2007	17/06/2010	Active	NO
13	U45202PN2007PTC130231	CITY DEVELOPMENT (MAHARASHTRA) PRIVATE LIMITED	Director	30/09/2008	27/07/2007	14/06/2010	Active	NO
14	U55204PN2007PLC130209	AMANORA HOSPITALITY LIMITED	Director	29/09/2008	27/07/2007	14/06/2010	Active	NO
15	U70102PN2007PLC130371	AMANORA TOWNSHIP MANAGEMENT LIMITED	Director	30/09/2008	27/07/2007	14/06/2010	Active	NO
16	U45203PN2007PLC130505	AMANORA PARK TOWN INFRASTRUCTURE SERVICES LIMITED	Director	29/09/2008	31/07/2007	14/06/2010	Active	NO
17	U45200MH2008PTC179272	AMARIS DIAMONDS & JEWELS PRIVATE LIMITED	Director	25/02/2008	25/02/2008	-	Active	NO
18	U01403PN2008PLC132375	EWAY FOODS AND GREENHOUSES LIMITED	Director	07/07/2008	07/07/2008	14/06/2010	Active	NO
19	U01403PN2008PTC132376	EWAY AGRO PRODUCTS PRIVATE LIMITED	Director	07/07/2008	07/07/2008	14/06/2010	Active	NO
20	U45201MH2007PTC173573	GRANDIOSE INFRASTRUCTURE VENTURE ENTERPRISES PRIVATE LIMITED	Director	29/07/2008	24/07/2008	-	Active	NO
21	U85100PN2008PLC132514	AMANORA HEALTH CARE LIMITED	Director	29/07/2008	29/07/2008	14/06/2010	Active	NO
22	U51109PN1993PTC133270	LITOLIER MARKETING PVT.LTD.	Director	10/02/2009	10/02/2009	-	Active	NO
23	U70100MH2005PTC157193	MAGNIFICENT ESTATE PRIVATE LIMITED	Additional director	12/03/2009	12/03/2009	16/06/2009	Active	NO

Name :

Mr. Manish Pethani

Designation :

Director

Address :

1901/02, Chandanbala Apartment, Ratilal Thakker Marg, Walkeshwar, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

13.06.1966

PAN No.:

AACPP0189M

Date of Appointment :

02.12.2005

DIN No.:

00014011

Others 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
1	U51900MH1994PTC082345	NIYATI EXPORTS PRIVATE LIMITED	Director	25/10/1994	25/10/1994	-	Active
2	U36910MH1991PTC064190	M SURESH EXPORTS PRIVATE LIMITED	Director	03/09/1998	03/09/1998	-	Active
3	U65920MH1994PTC080302	M.SURESH JEWELLERY PRIVATE LIMITED	Director	13/02/2003	13/02/2003	-	Active
4	U36912MH1995PTC094662	APEX DIAMOND EXPORTS PRIVATE LIMITED	Director	21/03/2003	21/03/2003	-	Amalgamated
5	U36910MH2004PTC149806	M SURESH COMPANY PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active
6	U22120MH1989PTC054450	C I JEWELS PRIVATE LIMITED	Director	20/03/2006	20/03/2006	-	Active
7	U70102MH2009PTC189654	DHAMAL BUILDERS & DEVELOPERS PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active
8	U45400MH2009PTC189625	DHAMAL PROPERTIES PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active
9	U45400MH2009PTC189620	SHREE GAURISHANKAR DEVELOPERS PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active
10	U45400MH2009PTC189624	DHAMAL ESTATES PRIVATE LIMITED	Director	17/01/2009	17/01/2009	25/03/2010	Active
11	U70100MH2005PTC157193	MAGNIFICENT ESTATE PRIVATE LIMITED	Additional director	12/03/2009	12/03/2009	16/06/2009	Active
12	U11101MH2007PTC167900	RSB DEVELOPERS PRIVATE LIMITED	Director	15/05/2009	15/05/2009	-	Active
13	U51909MH2009PTC194548	LUCRATIVE TRADING PRIVATE LIMITED	Director	10/10/2009	10/10/2009	30/06/2014	Active
14	U51109MH2009PTC195419	INSPIRATION MERCANTILE PRIVATE LIMITED	Director	10/10/2009	10/10/2009	30/06/2014	Active
15	U51109MH2009PTC195421	MORAL MERCANTILE PRIVATE LIMITED	Director	10/10/2009	10/10/2009	30/06/2014	Active
16	U51109MH2009PTC195422	SPOTTED TRADING PRIVATE LIMITED	Director	10/10/2009	10/10/2009	30/06/2014	Active
17	U51109MH2009PTC194266	UPGRADE TRADING PRIVATE LIMITED	Director	06/01/2010	06/01/2010	30/06/2014	Active
18	U45200MH2008PTC182107	REFRESH BUILDCON PRIVATE LIMITED	Director	21/09/2010	01/02/2010	-	Active
19	U72900MH1999PLC122294	E COMMERCE MAGNUM SOLUTION LIMITED	Director	28/09/2011	01/10/2010	-	Active
20	U36910MH2003PTC141086	ADORA JEWELS (INDIA) PRIVATE LIMITED	Additional director	06/06/2014	06/06/2014	-	Active

Name :

Mr. Nitin Adani

Designation :

Director

Address :

804, Dharam Palace, Athvalines, Surat 395001, Gujarat, India

Date of Birth/Age :

23.10.1960

PAN No.:

AAJPA2337H

Date of Appointment :

02.12.2005

DIN No.:

00014359

Others 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	U45201GJ2002PTC040524	RATNA TRAYI REALITY SERVICES PRIVATE LIMITED	Director	26/02/2004	26/02/2004	-	Active	NO
2	U36912MH1995PTC094662	APEX DIAMOND EXPORTS PRIVATE LIMITED	Director	14/11/2005	14/11/2005	-	Amalgamated	NO
3	U36910MH2004PTC149806	M SURESH COMPANY PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active	NO
4	U45201GJ2007PTC051508	NSP INFRASTRUCTURE PRIVATE LIMITED	Director	01/03/2008	01/03/2008	02/11/2010	Active	NO

KEY EXECUTIVES

Name :	Mr. Rahul
Designation :	Accountant Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Name of Equity Shareholders	No. of Shares
Lalit C. Adani	133500
Manish R. Pethani	125000
Paresh R. Pethani	116200
Mr. Vijay C. Adani	92800
Mr. Nitin C. Adani	92400
Mr. Suresh U. Pethani	1000
Mr. Ramesh U. Pethani	1800
M Suresh Exports Private Limited	177300
Vimla Adani	18000
Priti Manish Pethani	49500
Twinklediam NV	60000
Total	867500

Name of Preference Shareholders	No. of Shares
Manish R. Pethani	63000
Paresh R. Pethani	55000
Mr. Vijay C. Adani	38600
Mr. Nitin C. Adani	79900
Twinklediam NV	230200
Total	466700

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	27.35
Directors or relatives of Directors	72.65
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Cut and Polished Diamond.

Products :

Product Description	Item Code No. (ITC Code)
Cut and Polished Diamonds	71023901

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Diamond

Countries :

• USA

Imports :

Products :

Diamond

Countries :

• Belgium
• UK

Terms :

Selling :

Cash and Credit (30 Days / 90 Days)

Purchasing :

Cash and Credit (30 Days / 90 Days)

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

1500 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	, Diamond Branch, West Core Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Person Name (With Designation)	Ms. Pranita (Credit Department)
Contact Number	91-22-26752300
Name of Account Holder	M Suresh Company Private Limited
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	--

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2013	As on 31.03.2012
Short Term Borrowing
Working Capital Loans from Bank	3814.308	2954.329
Total	3814.308	2954.329

Auditors :
Name :	Champaklal Shah and Company Chartered Accountants
Address :	1st Floor, Shahviri Buliding, Office No 2 and 3, 31-41, R S Sapre Road Kalbadevi, Mumbai – 400002, Maharashtra, India
PAN No.:	AAAFC1368D
Memberships :	--
Collaborators :	--
Subsidiaries :	M Suresh Company DMCC, United Arab Emirates C I Jewels Private Limited, India M Suresh Company (SA) Private Limited, South Africa The Jewellery Group, Australia

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1250000	Equity Shares	Rs.100/- each	Rs. 125.000 Millions
1250000	Preference Shares	Rs.100/- each	Rs. 125.000 Millions
	Total		Rs. 250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
867500	Equity Shares	Rs.100/- each	Rs. 86.750 Millions
466700	Preference Shares	Rs.100/- each	Rs. 46.670 Millions
	Total		Rs. 133.420 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	133.420	133.420	126.670
(b) Reserves & Surplus	2327.480	2164.852	1919.566
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	2460.900	2298.272	2046.236
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	9.930	9.938	4.666
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	22.000	20.000	17.400
Total Non-current Liabilities (3)	31.930	29.938	22.066
(4) Current Liabilities
(a) Short term borrowings	3833.292	2962.413	3386.719
(b) Trade payables	3477.436	2397.356	1463.534
(c) Other current liabilities	77.205	112.828	101.566
(d) Short-term provisions	7.137	6.103	5.812
Total Current Liabilities (4)	7395.070	5478.700	4957.631
TOTAL	9887.900	7806.910	7025.933
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	422.314	452.521	286.840
(ii) Intangible Assets	0.645	0.000	0.000
(iii) Capital work-in-progress	8.630	0.200	139.305
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	270.720	258.935	243.262
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	52.277	54.384	50.250
(e) Other Non-current assets	33.357	43.143	0.000
Total Non-Current Assets	787.943	809.183	719.657
(2) Current assets
(a) Current investments	0.000	0.000	25.000
(b) Inventories	5608.245	4578.505	3753.265
(c) Trade receivables	2734.412	1937.908	1325.265
(d) Cash and cash equivalents	122.967	98.160	127.102
(e) Short-term loans and advances	631.877	378.190	1074.793
(f) Other current assets	2.456	4.964	0.851
Total Current Assets	9099.957	6997.727	6306.276
TOTAL	9887.900	7806.910	7025.933

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES TOTAL		10498.966	11071.338	8830.284
Less	EXPENSES		10258.255	10845.615	8609.284
	PROFIT BEFORE TAX		240.711	225.723	221.000
Less	TAX		76.992	72.772	72.557
	PROFIT AFTER TAX		163.719	152.951	148.443
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		672.730	540.863	413.504
Less	APPROPRIATIONS
		Transfer to General Reserve	20.000	20.000	20.000
		Dividend	0.933	0.933	0.933
		Tax on Dividend	0.159	0.151	0.151
		TOTAL	21.092	21.084	21.084
	BALANCE CARRIED TO THE B/S		815.357	672.730	540.863
	EARNINGS IN FOREIGN CURRENCY		9491.833	10132.712	8572.204
	Earnings Per Share (Rs.)		122.71	114.64	111.26

Particulars	31.03.2014
Sales Turnover (Approximately)	13170.000

Expected Sales (20134-15): Rs. 14000.000 Millions

The above information has been parted by Mr. Rahul

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	1.56	1.38	1.68
Return on Total Assets (PBT/Total Assets}	(%)	2.51	2.99	3.33
Return on Investment (ROI) (PBT/Networth)		0.10	0.10	0.11
Debt Equity Ratio (Total Debt /Networth)		1.56	1.29	1.66
Current Ratio (Current Asset/Current Liability)		1.23	1.28	1.27

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	126.670	133.420	133.420
Reserves & Surplus	1919.566	2164.852	2327.480
Net worth	2046.236	2298.272	2460.900
long-term borrowings	0.000	0.000	0.000
Short term borrowings	3386.719	2962.413	3833.292
Total borrowings	3386.719	2962.413	3833.292
Debt/Equity ratio	1.655	1.289	1.558

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	8830.284	11071.338	10498.966
		25.379	(5.170)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	8830.284	11071.338	10498.966
Profit	148.443	152.951	163.719
	1.68%	1.38%	1.56%

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 four 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	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

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 and 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.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2013	As on 31.03.2012
Short Term Borrowing
Deposits from Directors	18.984	8.084
Total	18.984	8.084

OPERATIONS:

During the year the company has sales of Rs.10498.966 MIllions and net Profit after tax of Rs.163.720.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	80038346	26/09/2012 *	4,070,000,000.00	STATE BANK OF INDIA	DIAMOND BRANCH, WEST CORE BHARAT DIAMOND BOURSE, BANDRA KURLA COMPLEX, BANDRA(EAST), MUMBAI, Maharashtra - 400051, INDIA	B60391182

* Date of charge modification

FIXED ASSETS

• Land

• Building
• Furniture and Fixture
• Plant and Machinery
• Office Equipments and Electric Fittings
• Vehicle
• Computers

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] 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. 61.85
UK Pound	1	Rs. 96.72
Euro	1	Rs. 76.53

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUB
Report Prepared by :	KLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		53

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.