MIRA INFORM REPORT

Report No. :	336281
Report Date :	13.08.2015

IDENTIFICATION DETAILS

Name :	GOLD STAR JEWELLERY PRIVATE LIMITED (w.e.f. 12.03.2010) DIAMSTAR JEWELLERY (INDIA) PRIVATE LIMITED AMALGAMATED WITH GOLD STAR JEWELLERY PRIVATE LIMITED
Formerly Known As :	GOLD STAR JEWELLERY LIMITED (w.e.f.18.06.1990) GOLD STAR JEWELLERY EXPORTS PRIVATE LIMITED
Registered Office :	Block ‘C’ Plot 16 P, 17, 28 and 29 (P) Seepz, Andheri (East), Mumbai – 400096, Maharashtra
Tel. No.:	91-22-66947000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.06.1990
Com. Reg. No.:	11-056881
Capital Investment / Paid-up Capital :	Rs. 41.900 Million
CIN No.: [Company Identification No.]	U39611MH1990PTC056881
IEC No.:	0397088850
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCG0505E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Plain, Studded Gold, Silver, Platinum Diamond Jewellery and also engaged into Electricity Generation.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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 :	Clear
Comments :	Subject was incorporated in the year 1990 and it is a manufacturer and exporter plain gold and diamond-studded gold jewellery. Subject is an established company having satisfactory track record. Mr. Manish Varia, Consultant has provided information to us and claimed that “DIAM STAR JEWELLERY (INDIA) PRIVATE LIMITED” got amalgamated with “GOLD STAR JEWELLERY PRIVATE LIMITED” as on 31st January 2015. As per the financial record of 2014, company has possesses sound operational risk profile and maintained fair profitability margins during a year under a review. Rating also takes into consideration company’s stablished market position in the gems and jewellery business, supported by its promoters' extensive industry experience and healthy financial risk profile along with above-average debt protection metrics. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 = BBB
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	11.06.2015

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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Manish Varia
Designation :	Consultant
Contact No.:	91-22-2266947000
Date :	10.08.2015

LOCATIONS

Registered Office/ Factory :	Block ‘C’ Plot 16 P, 17, 28 and 29 (P) Seepz, Andheri (East), Mumbai – 400096, Maharashtra, India
Tel. No.:	91-22-66947000
Fax No.:	91-22-28244212
E-Mail :	accountsmis@goldstarjewellery.com legal@goldstarjewellery.com
Website :	http://www.goldstarjewellery.com
Branch Office :	Royal Star Arcade, Plot No. 8, Western Industrial Estate, Opposite Seepz, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India
Windmill :	Located at: · Jalgaon · Dhule

DIRECTORS

AS ON 22.09.2014

Name :

Mr. Alkesh Satish Shah

Designation :

Director

Address :

4, Aryavarta, N D Road, Nepean Sea Road, Mumbai - 400004, Maharashtra, India

Date of Birth/Age :

06.02.1970

Date of Appointment :

22.09.2003

DIN No.:

00004149

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	U51398MH1991PTC063336	ROYAL STAR JEWELLERY PRIVATE LIMITED	Director	01/04/2000	01/04/2000	02/04/2015	Active	NO
2	U51398MH2001PTC132396	GOLD STAR ORNAMENTS PRIVATE LIMITED	Director	19/06/2001	19/06/2001	-	Active	NO
3	U39611MH1990PTC056881	GOLD STAR JEWELLERY PRIVATE LIMITED	Director	29/09/2003	29/09/2003	-	Active	NO
4	U36910MH2004PTC146325	GOLD STAR JEWELLERY DESIGNS PRIVATE LIMITED	Director	09/09/2010	14/05/2004	-	Active	NO
5	U36910MH2004PTC147775	DIRECTI WEB SERVICES PRIVATE LIMITED	Director	29/07/2004	29/07/2004	16/12/2009	Active	NO
6	U36911MH2005PTC153513	IVY JEWELLERY PRIVATE LIMITED	Director	26/05/2005	26/05/2005	15/11/2010	Active	NO
7	U36911MH2002PLC138275	DIAMOND INDIA LIMITED	Director	09/09/2006	09/09/2006	27/09/2008	Active	NO
8	U27205MH2006PTC165319	JOUEL SCULPT PRIVATE LIMITED	Director	21/07/2015	01/11/2006	-	Active	NO
9	U27205MH2006PTC165391	DIA VENTE JEWELLERY PVT. LIMITED.	Director	15/09/2008	07/11/2006	-	Active	NO
10	U72900MH2005PTC156594	MINDTECH SOLUTIONS PRIVATE LIMITED	Director	29/09/2007	31/03/2007	01/05/2010	Active	NO
11	U36912MH1989GAP053844	SEEPZ GEMS AND JEWELLERY MANUFACTURERS ASSOCIATION	Director	23/11/2007	23/11/2007	24/09/2010	Active	NO
12	U45300MH2008PTC177709	GOLD STAR BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	10/01/2008	10/01/2008	-	Active	NO
13	U27205MH2008PTC181759	GOLD STAR CENTOQUATTRO JEWELLERY PRIVATE LIMITED	Director	30/04/2008	30/04/2008	06/07/2009	Active	NO
14	U45208MH2008PTC184852	ETERNITY HABITAT PRIVATE LIMITED	Director	21/07/2008	21/07/2008	-	Active	NO
15	U65910MH1995PTC087739	GOLD STAR CORPORATE SOLUTIONS PRIVATE LIMITED	Director	26/02/2009	26/02/2009	01/05/2010	Active	NO
16	U51398MH2008PTC185197	B S DESIGNS PRIVATE LIMITED	Director	03/07/2009	03/07/2009	-	Strike off	NO
17	U45400MH2008PTC186135	DIVYA HABITAT PRIVATE LIMITED	Director	01/05/2010	01/05/2010	-	Active	NO
18	U45200MH2004PTC145604	ETERNITY CONSTRUCTION PRIVATE LIMITED	Director	01/07/2010	01/07/2010	-	Active	NO
19	U67120MH1995PTC092296	DRAVYA FINANCE PRIVATE LIMITED	Director	07/07/2010	07/07/2010	-	Active	NO
20	U36910MH2002PTC135049	DIAM STAR JEWELLERY (INDIA) PRIVATE LIMITED	Director	30/07/2010	30/07/2010	-	Amalgamated	NO
21	U36912GJ2010PTC062363	GOLD STAR JEWELS PRIVATE LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
22	U36912MH1995PTC091310	GOLD STAR JEWELLERY INDIA PRIVATE LIMITED	Director	21/07/2015	21/07/2015	-	Active	NO
23	AAA-2642	GOLD STAR FINE JEWELLERY LLP	Designated Partner	28/10/2010	28/10/2010	-	Active	NO
24	AAA-9074	GOLD STAR DWELLERS LLP	Designated Partner	16/03/2015	16/03/2015	-	Active	NO

Name :

Mr. Ashish Vinodrai Shah

Designation :

Managing Director

Address :

19/2, Suvarna Nagar Society, Soni House, N S Road No. 4, J V P D Scheme, Vile Parle (West), Mumbai - 400056, Maharashtra, India

Date of Birth/Age :

04.05.1970

Date of Appointment :

01.05.2009

DIN No.:

00007729

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	U51398MH1991PTC063336	ROYAL STAR JEWELLERY PRIVATE LIMITED	Managing director	31/03/2005	31/03/2005	15/03/2010	Active	NO
2	U39611MH1990PTC056881	GOLD STAR JEWELLERY PRIVATE LIMITED	Managing director	01/05/2009	01/04/2005	-	Active	NO
3	U36910MH2004PTC146325	GOLD STAR JEWELLERY DESIGNS PRIVATE LIMITED	Whole-time director	30/09/2005	30/09/2005	-	Active	NO
4	U65910MH1995PTC087739	GOLD STAR CORPORATE SOLUTIONS PRIVATE LIMITED	Director	29/09/2007	31/03/2007	27/03/2015	Active	NO
5	U36910MH2002PTC135049	DIAM STAR JEWELLERY (INDIA) PRIVATE LIMITED	Director	01/06/2008	01/06/2008	-	Amalgamated	NO
6	U51398MH2008PTC185197	B S DESIGNS PRIVATE LIMITED	Director	29/07/2008	29/07/2008	-	Strike off	NO
7	U27205MH2008PTC181759	GOLD STAR CENTOQUATTRO JEWELLERY PRIVATE LIMITED	Director	06/07/2009	06/07/2009	01/04/2015	Active	NO
8	U72900MH2005PTC156594	MINDTECH SOLUTIONS PRIVATE LIMITED	Director	01/05/2010	01/05/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manish Varia
Designation :	Consultant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 22.09.2014

Names of Shareholders	No. of Shares
Satish Ratilal Shah	2344990
Alkesh Satish Shah	515000
Sanjay Satish Shah	1105000
Hansaben Satish Shah	145000
Smita Alkesh shah	47000
Shweta Sanjay Shah	33000
Sayam sanjay Shah	10
Total	4190000

AS ON 09.07.2015

Names of Allottees	No. of Shares
Satish shah/ Hansa Shah	19040
Alkesh Shah/ Smita Shah	136789
Smita Shah/ Smita Shah	1183093
Shweta Shah/ Sanjay Shah	1326994
Sayam sanjay Shah/ Satish Shah	18
Hansaben Shah/ Satish Shah	787360
Aayush Alkesh Shah	18
Sidd Alkesh Shah	18
Ankur Shah	18666
Total	3471996

AS ON 22.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, exporter and Importer of Plain, Studded Gold, Silver, Platinum Diamond Jewellery and also engaged into electricity generation.

Products :

ITC Code No.	Product Descriptions
71131910	Manufacturer of Jewellery and importer of Gold Studded Jewellery

Brand Names :

--

Agencies Held :

--

Exports :

Products :

Finished Goods

Countries :

· USA

· France

· Italy

· China

· Japan

Imports :

Products :

Rough Diamond

Countries :

· Hong Kong

· France

· Italy

Terms :

Selling :

Cash, L/C and Credit

Purchasing :

Cash, L/C and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers and Retailers

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

300 (Approximately)

Bankers :

Bank Name:	State Bank of India
Branch:	Seepz Branch, Andheri (East), Mumbai - 400096, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Bank of India, Seepz Mid Corporate Br,Behind Seepz Service Centre, Marol Industrial Area, Seepz,, Mumbai - 400096, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	33.008	37.573
Loans taken for vehicles	5.095	3.607
	38.103	41.18
SHORT TERM BORROWINGS
Rupee term loans from banks	249.957	79.682
Total	288.060	120.862

Banking Relations :	--
Auditors :
Name :	B J Shah and Associates Chartered Accountants
Address :	203/A/1, Modern Apartment, Garden Lane, Ghatkopar (West), Mumbai - 400086, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAHPD5959D
Memberships :	--
Collaborators :	--
Associates Companies :	· Gold star Diamond Private Limited · Mindtech Solution Private Limited · Goldstar Corporate Solution Private Limited · Diam Star Jewellery India Private Limited

CAPITAL STRUCTURE

AFTER 22.09.2014

Authorised Capital : Rs. 90.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 78.300 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4,190,000	Equity Shares	Rs. 10/- each	Rs. 41.900 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	41.900	41.900	41.900
(b) Reserves & Surplus	934.789	814.162	711.121
(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)	976.689	856.062	753.021
(3) Non-Current Liabilities
(a) Long-term borrowings	38.103	41.180	42.996
(b) Deferred tax liabilities (Net)	22.489	25.058	25.128
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.039	1.059	0.083
Total Non-current Liabilities (3)	61.631	67.297	68.207
(4) Current Liabilities
(a) Short term borrowings	884.764	889.564	627.157
(b) Trade payables	815.548	1274.155	1245.160
(c) Other current liabilities	15.745	33.851	32.567
(d) Short-term provisions	6.762	15.235	18.212
Total Current Liabilities (4)	1722.819	2212.805	1923.096
TOTAL	2761.139	3136.164	2744.324
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	171.560	190.077	187.986
(ii) Intangible Assets	1.190	1.448	1.795
(iii) Capital work-in-progress	13.429	26.117	38.807
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	33.182	33.974	10.374
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	6.810	7.882	20.100
(e) Other Non-current assets	0.000	1.833	24.954
Total Non-Current Assets	226.171	261.331	284.016
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	777.762	1285.455	1321.239
(c) Trade receivables	1443.854	1452.074	1035.133
(d) Cash and cash equivalents	140.007	48.499	44.759
(e) Short-term loans and advances	120.303	78.481	51.556
(f) Other current assets	53.042	10.324	7.621
Total Current Assets	2534.968	2874.833	2460.308
TOTAL	2761.139	3136.164	2744.324

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	4937.644	4885.168	5099.936
Less	EXPENSES
		TOTAL	4751.586	4730.533	5015.083
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		186.058	154.635	84.853
	PROFIT/ (LOSS) BEFORE TAX		186.058	154.635	84.853
Less	TAX		65.431	51.594	28.797
	PROFIT/ (LOSS) AFTER TAX		120.627	103.041	56.056
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		691.759	588.718	532.662
	BALANCE CARRIED TO THE B/S		812.386	691.759	588.718
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods	3518.343	3655.510	2769.188
		Other Earnings	0.000	9.171	0.000
	TOTAL EARNINGS		3518.343	3664.681	2769.188
	IMPORTS
		Raw Materials	1508.481	1408.045	1345.638
		Stores & Spares	16.426	17.803	13.459
		Capital Goods	2.950	7.141	1.735
	TOTAL IMPORTS		1527.857	1432.989	1360.832
	Earnings Per Share (Rs.)		28.79	24.59	13.38

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.000	0.000	0.000
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from (used in) operating activities	(45.000)	(35.000)	54.591

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	6.85	5.03	3.15
Return on Investment (ROI) (PBT/Networth)		0.19	0.18	0.11
Debt Equity Ratio (Total Liability/Networth)		0.94	1.09	0.89
Current Ratio (Current Asset/Current Liability)		1.47	1.30	1.28

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	41.900	41.900	41.900
Reserves & Surplus	711.121	814.162	934.789
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	753.021	856.062	976.689
Long-term borrowings	42.996	41.180	38.103
Short term borrowings	627.157	889.564	884.764
Total borrowings	670.153	930.744	922.867
Debt/Equity ratio	0.890	1.087	0.945

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	5099.936	4885.168	4937.644
		(4.211)	1.074

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	5099.936	4885.168	4937.644
Profit	56.056	103.041	120.627
	1.10%	2.11%	2.44%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

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.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10382656	05/10/2012	538,900,000.00	STATE BANK OF INDIA	SEEPZ, ANDHERI (EAST), MUMBAI - 400096, MAHARASHTRA, INDIA	B60507670
2	10314268	14/10/2011	38,250,000.00	NEW INDIA CO-OP BANK LIMITED	NEW INDIA BHAVAN, ANANT VISHRAM NAGWEKAR MARG, BABASAHEB WORLIKAR CHOWK, PRABHADEVI, MUMBAI - 400025, MAHARASHTRA, INDIA	B23966187
3	10209850	22/03/2010	80,000,000.00	BANK OF INDIA	SEEPZ BRANCH,MIDC SEEPZ, ANDHERI-WEST, MUMBAI - 400096, MAHARASHTRA, INDIA	A82187063
4	10067624	05/09/2013 *	1,020,000,000.00	STATE BANK OF INDIA (CONSORITUM LEAD BANK)	SEEPZ BRANCH, NEW BANKING BUILDING,, SEEPZ, ANDHE  RI (EAST),, MUMBAI, MAHARASHTRA - 400096, INDIA	B86154895
5	10072815	16/08/2013 *	1,020,000,000.00	SBI CONSORTIUM	SEEPZ BRANCH, ANDHERI (EAST), MUMBAI - 400096, MAHARASHTRA, INDIA	B96150628
6	10061439	28/01/2015 *	538,900,000.00	STATE BANK OF INDIA	SEEPZ BRANCH, ANDHERI (EAST), MUMBAI - 400096, MAHARASHTRA , INDIA	C44710887
7	90154872	01/02/2003	75,000,000.00	BANK OF INDIA	SEEPZ BRANCH; ANDHERI (EAST), MUMBAI - 400096, MAHARASHTRA, INDIA	-
8	90153947	31/01/2003	75,000,000.00	BANK OF INDIA	SEEPZ; ANDHERI (EAST), MUMBAI - 400096, MAHARASHTRA,  INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Foreign currency term loans from banks	546.146	608.316
Loans and advances from others	88.661	201.566
Total	634.807	809.882

OUTLOOK

The director anticipates that the company shall increase its turnover and profitability in the current financial year. The company is focusing on the growth of the company and reducing the cost.

FIXED ASSETS:

· Land

· Buildings

· Office Building

· Other plant and Equipment

· Furniture and Fixtures

· Plant and Equipment

· Vehicles

· Motor Vehicles

· Office Equipment

· Computer Equipment’s

· Other Equipment’s

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.64.83
UK Pound	1	Rs.101.00
Euro	1	Rs.71.82

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAR
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

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

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.