MIRA INFORM REPORT

Report Date :

17.12.2014

IDENTIFICATION DETAILS

Name :	ROSY BLUE (INDIA) PRIVATE LIMITED (w.e.f. 18.10.2002)
Formerly Known As :	EVEREST GEMS PRIVATE LIMITED
Registered Office :	1608/ 1609, Prasad Chambers, Opera House, Mumbai – 400004, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.04.1998
Com. Reg. No.:	11-114312
Capital Investment / Paid-up Capital :	Rs.659.949 Millions
CIN No.: [Company Identification No.]	U36911MH1998PTC114312
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMR10677C/ MUMR13201G
PAN No.: [Permanent Account No.]	AACCR2413B
Legal Form :	Private Limited Liability Company
Line of Business :	Processing and Selling of Diamond.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Exist
Comments :	Subject is a well-established company having satisfactory track. However, trade relations are fair. Business is active. Payment terms are reported as usually correct. In view of vast experience of the promoters and directors, 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 – 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	ICRA
Rating	Long Term Fund Based = BBB+
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation. It carry moderate credit risk.
Date	November 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 31-03-2014.

INFORMATION DENIED

Management Non Co-Operative (Tel No.: 91-22-66650000)

LOCATIONS

Registered Office :	1608/ 1609, Prasad Chambers, Opera House, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23633671/ 66650000/ 66650100
Fax No.:	91-22-23630248/ 66314288
E-Mail :	legal@rosyblue.com mumbai@rosyblue.com
Website :	http://rosyblue.in
Overseas Office :	Belgium Israel UAE Hong Kong Japan USA South Africa China

DIRECTORS

As on 26.09.2014

Name :

Mr. Russell Arunkumar Mehta

Designation :

Managing Director

Address :

25-B, Cliff Co-Operative Housing Society, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

06.12.1961

Date of Appointment :

08.12.2010

DIN No.:

00049766

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	U99999MH1985PTC036278	INTER GOLD INDIA PRIVATE LIMITED	Director	06/09/1990	06/09/1990	-	Active	NO
2	U65990MH1984PTC032490	CHEAY INVESTMENTS PRIVATE LIMITED	Director	10/09/1991	10/09/1991	-	Active	NO
3	U67120MH1991PTC063321	B ARUNKUMAR CAPITAL AND CREDIT SERVICES PRIVATE LIMITED	Director	19/09/1991	19/09/1991	-	Active	NO
4	U01110MH1993PTC070820	SAHAPUR PLANTATIONS AND ORCHARD PRIVATE LIMITED	Director	19/02/1993	19/02/1993	-	Active	NO
5	U65990MH1994PTC080450	ROSY BLUE SECURITIES PRIVATE LIMITED.	Director	18/08/1994	18/08/1994	25/05/2012	Active	NO
6	U36911MH1998PTC114312	ROSY BLUE (INDIA) PRIVATE LIMITED	Managing director	08/12/2010	03/10/1998	-	Active	NO
7	U36911MH1991PTC061736	INTER GOLD GEMS PRIVATE LIMITED	Director	17/08/2002	17/08/2002	-	Active	NO
8	U70100MH2002PTC137184	A. A. JEWELLERY PRIVATE LIMITED	Director	26/12/2002	26/12/2002	-	Amalgamated	NO
9	U36900MH2000PTC127744	JOSH DIAMONDS PRIVATE LIMITED	Director	03/03/2003	03/03/2003	-	Active	NO
10	U51398MH2003PTC138686	SITARA DIAMOND PRIVATE LIMITED	Director	01/06/2003	01/06/2003	02/03/2011	Active	NO
11	U67120MH1994PTC077544	SHAH MEHTA HOLDING PRIVATE LIMITED	Director	16/08/2003	16/08/2003	-	Active	NO
12	U61100MH2004PTC146351	ALMAZ LUXURY LINERS PRIVATE LIMITED	Director	17/05/2004	17/05/2004	-	Active	NO
13	U74210MH1984PTC033159	CONWOOD APARTMENTS AND RESORTS  PRIVATE LIMITED	Director	01/07/2004	01/07/2004	-	Active	NO
14	U72900MH2000PTC123750	TYCARATI JEWELLERY PRIVATE LIMITED	Director	17/07/2004	17/07/2004	11/01/2011	Active	NO
15	U65993MH2005PTC152862	BELINDIA FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	27/04/2005	27/04/2005	-	Active	NO
16	U36912MH2005PTC156215	ORRA DIAMONDS PRIVATE LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO
17	U74140MH2006PTC164099	RB ONE SOURCE PRIVATE LIMITED	Director	26/08/2006	26/08/2006	-	Active	NO
18	U45201MH2006PTC165130	Pancharatna Properties Private Limited	Director	16/10/2006	16/10/2006	26/10/2009	Active	NO
19	U45201MH2006PLC165571	ABHIRUCHI PROPERTIES LIMITED	Director	01/03/2007	01/03/2007	11/03/2008	Amalgamated	NO
20	U85195MH2007PTC174613	OralCDx India Private Limited	Director	28/09/2007	28/09/2007	17/03/2008	Strike off	NO
21	U45202MH2008PTC180818	ROSY BLUE PROPERTIES PRIVATE LIMITED	Director	03/04/2008	03/04/2008	-	Active	NO
22	U74990MH2009PTC189978	DIVA COSMOCARE (INDIA) PRIVATE LIMITED	Director	29/01/2009	29/01/2009	-	Active	NO
23	U72900MH2008PTC181616	NexSales Solutions Private Limited	Director	30/09/2010	22/03/2010	-	Active	NO
24	U75220MH2010NPL208460	ROSY BLUE FOUNDATION	Director	30/09/2010	30/09/2010	-	Active	NO
25	U36911MH2006PTC162649	ROSY BLUE TRADESERVE PRIVATE LIMITED	Director	28/09/2012	30/06/2012	-	Active	NO
26	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	26/09/2014	26/09/2014	-	Active	NO
27	AAA-7748	BANAS JEWELS LLP	Designated Partner	25/01/2012	25/01/2012	-	Active	NO

Name :

Mr. Arunkumar Ramniklal Mehta

Designation :

Director

Address :

25-B, Cliff Co-Operative Housing Society, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

09.01.1940

Date of Appointment :

01.04.1998

DIN No.:

00049700

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	U51900MH1973NPL017093	DIAMOND EXPORTERS ASSOCIATION LIMITED	Director	24/12/1973	24/12/1973	05/09/2014	Active	NO
2	U99999MH1985PTC036278	INTER GOLD INDIA PRIVATE LIMITED	Director	02/06/1987	02/06/1987	01/10/2011	Active	NO
3	U67120MH1994PTC077544	SHAH MEHTA HOLDING PRIVATE LIMITED	Director	05/04/1994	05/04/1994	01/10/2011	Active	NO
4	U65990MH1994PTC080450	ROSY BLUE SECURITIES PRIVATE LIMITED.	Director	18/08/1994	18/08/1994	01/10/2011	Active	NO
5	U70101GJ1982PTC065569	PRIYA HOLDINGS PRIVATE LIMITED	Director	11/12/1996	11/12/1996	01/10/2011	Active	NO
6	U36911MH1998PTC114312	ROSY BLUE (INDIA) PRIVATE LIMITED	Director	01/04/1998	01/04/1998	-	Active	NO
7	U74210MH1984PTC033159	CONWOOD APARTMENTS AND RESORTS PRIVATE LIMITED	Director	15/10/2001	15/10/2001	-	Active	NO
8	U67120MH1991PTC063321	B ARUNKUMAR CAPITAL AND CREDIT SERVICES PRIVATE LIMITED	Director	25/02/2002	25/02/2002	01/10/2011	Active	NO
9	U65990MH1984PTC032490	CHEAY INVESTMENTS PRIVATE LIMITED	Director	25/02/2002	25/02/2002	01/10/2011	Active	NO
10	U45102MH2000PTC129762	LIFESTYLE PROPERTY VENTURES PRIVATE LIMITED	Director	01/11/2002	01/11/2002	03/07/2013	Active	NO
11	U36900MH2000PTC127744	JOSH DIAMONDS PRIVATE LIMITED	Director	05/09/2003	05/09/2003	-	Active	NO
12	U91110GJ2000NPL039065	GUJARAT HIRA BOURSE	Director	09/03/2004	09/03/2004	-	Active	NO
13	U72900MH2000PTC123750	TYCARATI JEWELLERY PRIVATE LIMITED	Director	17/07/2004	17/07/2004	11/01/2011	Active	NO
14	U45202PN2003PLC018435	CITY CORPORATION LIMITED	Director	02/11/2004	02/11/2004	-	Active	NO
15	U65993MH2005PTC152862	BELINDIA FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	10/06/2005	10/06/2005	01/10/2011	Active	NO
16	U45209PN2005PTC021147	CITY REALTY & DEVELOPMENT PRIVATE LIMITED	Director	17/08/2005	17/08/2005	17/06/2010	Active	NO
17	U91120MH2005PLC157427	PALANPUR COMMUNITY FOUNDATION	Director	21/11/2005	21/11/2005	-	Active	NO
18	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	28/09/2006	28/09/2006	09/07/2014	Active	NO
19	U15132MH2007PTC170961	BANAS KANTHA INDUSTRIES PRIVATE LIMITED	Director	21/05/2007	21/05/2007	-	Active	NO
20	U45202PN2007PTC130231	CITY DEVELOPMENT (MAHARASHTRA) Private LIMITED	Director	31/05/2007	31/05/2007	14/06/2010	Active	NO
21	U34102PN2004PTC019806	SKYSCAPES HOTELS PRIVATE LIMITED	Director	21/06/2007	21/06/2007	17/06/2010	Active	NO
22	U70102PN2007PLC130371	AMANORA TOWNSHIP MANAGEMENT LIMITED	Director	23/06/2007	23/06/2007	14/06/2010	Active	NO
23	U45203PN2007PLC130505	AMANORA PARK TOWN INFRASTRUCTURE SERVICES LIMITED	Director	30/07/2007	30/07/2007	14/06/2010	Active	NO
24	U01403MH2008PTC181166	VASUNDHARA ECOFRIENDLY AGROPRODUCTS PRIVATE LIMITED	Director	15/04/2008	15/04/2008	-	Active	NO
25	U01403PN2008PTC132376	Eway Agro Products Private Limited	Director	07/07/2008	07/07/2008	14/06/2010	Active	NO
26	U01403PN2008PLC132375	Eway Foods and Greenhouses Limited	Director	07/07/2008	07/07/2008	14/06/2010	Active	NO
27	U85100PN2008PLC132514	Amanora Health Care Limited	Director	29/07/2008	29/07/2008	14/06/2010	Active	NO
28	U80301MH2009NPL194834	WJC SCHOOL OF BUSINESS	Director	11/08/2009	11/08/2009	-	Active	NO

Name :

Mr. Rajiv Ramniklal Jhaveri

Designation :

Director

Address :

402, Citadel Building, L.D. Ruparel Marg, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

12.04.1956

Date of Appointment :

03.10.1998

DIN No.:

00049550

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	U67120MH1991PTC063321	B ARUNKUMAR CAPITAL AND CREDIT SERVICES PRIVATE LIMITED	Director	19/09/1991	19/09/1991	-	Active	NO
2	U70101GJ1982PTC065569	PRIYA HOLDINGS PRIVATE LIMITED	Director	30/06/1992	30/06/1992	-	Active	NO
3	U36911MH1998PTC114312	ROSY BLUE (INDIA) PRIVATE LIMITED	Director	03/10/1998	03/10/1998	-	Active	NO
4	U65990MH1995PTC094018	DEVMITI FINVESTRADE PRIVATE LIMITED	Director	24/12/1998	24/12/1998	-	Active	NO
5	U65900MH1995PTC093253	KRISHANU FINLEASE PRIVATE LIMITED	Director	24/12/1998	24/12/1998	-	Active	NO
6	U45200MH1995PTC084743	TINSEL PROPERTIES PRIVATE LIMITED	Director	24/12/1998	24/12/1998	-	Active	NO
7	U70100MH2002PTC137184	A. A. JEWELLERY PRIVATE LIMITED	Director	26/12/2002	26/12/2002	-	Amalgamated	NO
8	U67120MH1994PTC077544	SHAH MEHTA HOLDING PRIVATE LIMITED	Director	23/04/2004	23/04/2004	-	Active	NO
9	U74210MH1984PTC033159	CONWOOD APARTMENTS AND RESORTS PRIVATE LIMITED	Director	01/07/2004	01/07/2004	-	Active	NO
10	U65993MH2005PTC152862	BELINDIA FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	27/04/2005	27/04/2005	-	Active	NO
11	U36910MH2005PTC154478	R B CUTTERS PRIVATE LIMITED	Director	05/07/2005	05/07/2005	19/03/2011	Active	NO
12	U74140MH2006PTC164099	RB ONE SOURCE PRIVATE LIMITED	Director	26/08/2006	26/08/2006	10/11/2009	Active	NO
13	U85195MH2007PTC174613	ORALCDX INDIA PRIVATE LIMITED	Director	28/09/2007	28/09/2007	30/08/2012	Strike off	NO
14	U45202MH2008PTC182596	REL-STAR INFRASTRUCTURES PRIVATE LIMITED	Director	22/05/2008	22/05/2008	15/02/2013	Active	NO
15	U36911MH2006PTC162649	ROSY BLUE TRADESERVE PRIVATE LIMITED	Director	28/09/2012	30/06/2012	-	Active	NO

Name :

Mr. Bhanuchandra Keshavlal Bhansali

Designation :

Director

Address :

35, Geetanjali, 73/ 75, Walkeshwar Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

25.01.1933

Date of Appointment :

01.04.1998

DIN No.:

00049800

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	U36911MH1998PTC114312	ROSY BLUE (INDIA) PRIVATE LIMITED	Director	01/04/1998	01/04/1998	-	Active	NO
2	U67190MH2011PTC212415	BHANSALI VALUE CREATIONS PRIVATE LIMITED	Director	17/01/2011	17/01/2011	28/02/2011	Active	NO
3	AAA-3513	BCKB MANAGEMENT SOLUTIONS LLP	Designated Partner	21/01/2011	21/01/2011	-	Active	NO

Name :

Mr. Vishal Dilip Mehta

Designation :

Director

Address :

1 Altamount, 14^th Floor, 9 Altamount Road, Opposite Mukesh Ambani Bunglow, Mumbai – 400027, Maharashtra, India

Date of Birth/Age :

02.04.1980

Date of Appointment :

20.09.2013

DIN No.:

03620492

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	U70100MH2002PTC137184	A. A. JEWELLERY PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Amalgamated	NO
2	U36911MH1998PTC114312	ROSY BLUE (INDIA) PRIVATE LIMITED	Director	20/09/2013	01/05/2013	-	Active	NO

Name :

Mrs. Manali Jayant Parekh

Designation :

Director

Address :

L, Ajanta, L.D. Ruparel Marg, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

22.07.1963s

Date of Appointment :

26.09.2014

DIN No.:

00446304

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	U65990MH1996PTC096809	PURAB SECURITIES PRIVATE LIMITED	Director	22/04/1996	22/04/1996	-	Active	NO
2	U17231MH1941PTC003281	KHATAU INDUSTRIES PRIVATE LIMITED	Director	07/04/2004	07/04/2004	11/02/2013	Active	NO
3	U61200MH2011PLC215986	VARUN GAS INFRASTRUCTURE LIMITED	Additional director	21/04/2011	21/04/2011	11/02/2013	Active	NO
4	U36911MH1998PTC114312	ROSY BLUE (INDIA) PRIVATE LIMITED	Director	26/09/2014	19/12/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Phillip Clinton Trott
Designation :	Secretary
Address :	A-14, Purva Co-Operative Housing Society Limited, Ambika Nagar, Goraswadi, Dombivli (East), Mumbai – 421201, Maharashtra, India
Date of Birth/Age :	17.11.1974
Date of Appointment :	18.09.2009
PAN No.:	AWAPT9597H

MAJOR SHAREHOLDERS

As on 26.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	10.68
Directors or relatives of Directors	89.32
Total	100.00

BUSINESS DETAILS

Line of Business :	Processing and Selling of Diamond.
Products :	Diamond
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT APPLICABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Information denied by management

Bankers :

• ING Vysya Bank Limited, Patel Chambers, Ground Floor, Sandhurst Bridge, Opera House, Mumbai – 400007, Maharashtra, India
• Oriental Bank of Commerce

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Intercorporate borrowings	2.450	0.883
SHORT TERM BORROWINGS
Working capital loans from banks	10,213.244	9,222.022
Total	10,215.694	9,222.905

Banking Relations :	--
Auditors :
Name :	M.M. Nissim and Company Chartered Accountants
Address :	Barodawala Mansion, B-Wing, 3^rd Floor, 81, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India
Tel. No.:	91-22-24949991
Fax No.:	91-22-24949995
E-Mail :	mail@mmnissim.com
Website :	www.mmnissim.com
PAN No.:	AAAFM5103E
Memberships :	--
Collaborators :	--
Sister Concern :	Inter Gold Gems Private Limited CIN No.: U36911MH1991PTC061736 Conwood Apartments And Resorts Private Limited CIN No.: U74210MH1984PTC033159 Rosy Blue Tradeserve Private Limited CIN No.: U36911MH2006PTC162649 Rosy Blue Jewellery Inc Inter Gold India Private Limited CIN No.: U99999MH1985PTC036278 Devmiti Finvestrade Private Limited CIN No.: U65990MH1995PTC094018 Krishanu Finlease Private Limited CIN No.: U65900MH1995PTC093253 Tinsel Properties Private Limited CIN No.: U45200MH1995PTC084743 International Gold Company Private Limited CIN No.: U36911MH1994PTC081352 Tai Sham Gem Limited, Hong Kong Rosy Blue Foundation CIN No.: U75220MH2010NPL208460
Associates:	Cheay Investments Private Limited CIN No.: U65990MH1984PTC032490 RB One Source Private Limited CIN No.: U74140MH2006PTC164099 Shah Mehta Holding Private Limited CIN No.: U67120MH1994PTC077544 B Arunkumar Capital and Credit Services Private Limited CIN No.: U67120MH1991PTC063321 B Arunkumar and Company R B Cutters Private Limited CIN No.: U36910MH2005PTC154478 Rosy Blue Securities Private Limited CIN No.: U65990MH1994PTC080450 Banas Jewels LLP

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
46750000	Equity Shares	Rs.10/- each	Rs.467.500 Millions
27500000	Preference shares	Rs.10/- each	Rs.275.000 Millions
	Total		Rs.742.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40413183	Equity Shares	Rs.10/- each	Rs.404.132 Millions
25750000	Preference shares	Rs.10/- each	Rs.257.500 Millions
	Total		Rs.661.632 Millions

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
44000000	Equity Shares	Rs.10/- each	Rs.440.000 Millions
26000000	Preference shares	Rs.10/- each	Rs.260.000 Millions
	Total		Rs.700.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40244895	Equity Shares	Rs.10/- each	Rs.402.449 Millions
25750000	Preference shares	Rs.10/- each	Rs.257.500 Millions
	Total		Rs.659.949 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	659.949	659.948	659.948
(b) Reserves & Surplus	5,903.276	5,452.589	5,178.924
(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)	6,563.225	6,112.537	5,838.872
(3) Non-Current Liabilities
(a) long-term borrowings	792.407	750.081	772.170
(b) Deferred tax liabilities (Net)	37.163	43.778	48.642
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.743	1.762	2.087
Total Non-current Liabilities (3)	831.313	795.621	822.899
(4) Current Liabilities
(a) Short term borrowings	10,213.244	9,222.022	10,440.290
(b) Trade payables	5,081.419	3,437.157	3,628.714
(c) Other current liabilities	151.917	122.502	333.874
(d) Short-term provisions	56.722	40.505	21.302
Total Current Liabilities (4)	15,503.302	12,822.186	14,424.180
TOTAL	22,897.840	19,730.344	21,085.951
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1,476.917	1,477.323	1,507.123
(ii) Intangible Assets	2.280	4.083	4.561
(iii) Capital work-in-progress	75.013	49.619	45.726
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1,482.813	1,398.389	1,173.119
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	518.393	460.471	526.992
(e) Other Non-current assets	33.603	13.129	7.667
Total Non-Current Assets	3,589.019	3,403.014	3,265.188
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	8,865.404	8,161.751	9,597.525
(c) Trade receivables	9,716.377	7,494.541	7,786.593
(d) Cash and cash equivalents	488.605	469.175	246.111
(e) Short-term loans and advances	177.631	157.955	145.059
(f) Other current assets	60.804	43.908	45.475
Total Current Assets	19,308.821	16,327.330	17,820.763
TOTAL	22,897.840	19,730.344	21,085.951

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL (A)		32,797.593	26,341.927	34,064.852
Less	EXPENSES
		TOTAL (B)		31,465.377	25,137.442	32,718.631
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			1,332.216	1,204.485	1,346.221
Less	FINANCIAL EXPENSES (D)			575.569	694.757	680.389
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			756.647	509.728	665.832
Less	DEPRECIATION/ AMORTISATION (F)			75.300	76.567	74.890
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			681.347	433.161	590.942
Less	TAX (H)			208.485	137.422	226.350
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			472.862	295.739	364.592
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			3874.545	3578.806	3214.214
	BALANCE CARRIED TO THE B/S			4347.407	3874.545	3578.806
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	25814.529	19789.244	25482.422
	TOTAL EARNINGS			25814.529	19789.244	25482.422
	Earnings / (Loss) Per Share (Rs.)			7.17	0.73	0.91

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.44	1.12	1.07
Operating Profit Margin (PBIDT/Sales)	(%)	4.06	4.57	3.95
Return on Total Assets (PBT/Total Assets}	(%)	3.19	2.37	2.97
Return on Investment (ROI) (PBT/Networth)		0.10	0.07	0.10
Debt Equity Ratio (Total Debt /Networth)		1.68	1.63	1.92
Current Ratio (Current Asset/Current Liability)		1.25	1.27	1.24

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	659.948	659.948	659.949
Reserves & Surplus	5178.924	5452.589	5903.276
Share Application money pending allotment	0.000	0.000	0.000
Net worth	5838.872	6112.537	6563.225
Long Term borrowings	772.170	750.081	792.407
Short Term borrowings	10440.290	9222.022	10213.244
Total borrowings	11212.460	9972.103	11005.651
Debt/Equity ratio	1.920	1.631	1.677

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	34,064.852	26,341.927	32,797.593
		(22.671)	24.507

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	34,064.852	26,341.927	32,797.593
Profit	364.592	295.739	472.862
	1.07%	1.12%	1.44%

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	Yes
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

LITIGATION DETAILS

CASE DETAILS
Bench:- Bombay
Lodging No.:-	ITXAL/5/2010	Filing Date:-	04/01/2010	Reg. No.:-	ITXA/1468/2010	Reg. Date:-	17/02/2010
Petitioner:-	THE COMMISSIONER OF INCOME TAX		Respondent:-	ROSY BLUE (INDIA) PRIVATE LIMITED
Petn.Adv:-	TEJVEER SINGH MASTAN SINGH (I3678)		Resp. Adv.:	MS. U. M. JHAVERI (0)
District:-	MUMBAI
Bench:-	DIVISION		Category:-	TAX APPEALS
Status:-	Admitted(Unready)		Stage:-	FOR ADMISSION - FRESH
Last Date:-	14/09/2011
Last Coram:-	HON'BLE SHRI JUSTICE J.P. DEVADHAR HON'BLE SHRI JUSTICE K.K. TATED
Act. :	Income Tax Act,1961			Under Section 260A

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Intercorporate deposits	789.957	749.198
Total	789.957	749.198

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10452303	14/09/2013	300,000,000.00	ING Vysya Bank Limited	Patel Chambers,Ground Floor, Sandhurst Bridge, Opera House,, Mumbai, Maharashtra - 400007, India	B86364916
2	90155417	29/03/2012 *	11,850,000,000.00	The Royal Bank of Scotland N.V. (acting as Lead Bank)	7th Floor, Sakhar Bhavan,, Nariman Point,, Mumbai, Maharashtra - 400021, India	B37977451

*Date of modification Charges

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.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.65
UK Pound	1	Rs.98.53
Euro	1	Rs.78.02

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUB
Report Prepared by :	VNT

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
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		47

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.