MIRA INFORM REPORT

Report No. :	353917
Report Date :	10.12.2015

IDENTIFICATION DETAILS

Name :	NOBAL JEWELS PRIVATE LIMITED
Registered Office :	Office No. 101, 1st Floor, Millenium Trade Centre, Thoba Sheri, Mahidharpura, Surat – 395003, Gujarat
Tel. No.:	91-261-2415654
Country :	India
Financials (as on) :	04.09.2015
Date of Incorporation :	06.02.2015
Com. Reg. No.:	04-082174
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U51398GJ2015PTC082174.
IEC No.:	5215000832
TAN No.: [Tax Deduction & Collection Account No.]	SRTN03799F
PAN No.: [Permanent Account No.]	AAAECN8548D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Diamonds. [Confirmed by management]
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

NB

RATING	STATUS	PROPOSED CREDIT LINE
NB	New Business

Maximum Credit Limit :	USD 2400
Status :	New Business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company incorporated on 6^th February, 2015 and it is establishing itself gradually. Mr. Gautam, Director of the company has provided all the information to us. Rating remain constrained on company recent establishment and limited track record of it business activities. However, trade relations are improving. Business is active. Payment terms are unknown. The company can be considered for business dealings on safe and secure 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 – 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Gautam Ranka
Designation :	Director
Contact No.:	91-9320038192
Date :	08.12.2015

LOCATIONS

Registered Office/ Factory/ Warehouse :	Office No. 101, 1st Floor, Millenium Trade Centre, Thoba Sheri, Mahidharpura, Surat – 395003, Gujarat, India
Tel. No.:	91-261-2415654
Mobile No.:	91-9320038192 (Mr. Gautam)
Fax No.:	91-261-2451654
E-Mail :	rankagautam@ymail.com
Location :	Rented
Locality:	Commercial
Branch Office :	Thoba Sheri, Mahidharpura, Surat – 395003, Gujarat, India
Area :	300 Sq. Ft
Location :	Rented
Locality:	Commercial

DIRECTORS

Name :

Mr. Gautam Chand Ranka

Designation :

Director

Address :

Office No. 101, 1st Floor, Millenium Trade Centre,, Thoba Sheri, Mahidharpura,, Surat, 395003, Gujarat, India

Date of Appointment :

06.02.2015

DIN No.:

02963624

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	U51900MH2008PTC183994	MANJUSHREE EXPORTS PRIVATE LIMITED	Additional director	1/4/2010	1/4/2010	12/1/2012	Active	NO
2	U52300GJ2011PTC067374	FINE IMPEX PRIVATE LIMITED	Director	7/10/2011	7/10/2011	21/11/2012	Active	NO
3	U36912GJ2013PTC076427	MAHIMA GEMS PRIVATE LIMITED	Director	14/08/2013	14/08/2013	-	Strike off	NO
4	U51398GJ2015PTC082174	NOBAL JEWELS PRIVATE LIMITED	Director	6/2/2015	6/2/2015	-	Active	NO

Name :

Chandra Prakash Joshi

Designation :

Director

Address :

Office No. 101, 1st Floor, Millenium Trade Centre,, Thobasheri, Mahidharpura, Surat, 395003, Gujarat, India

Date of Birth/Age :

08.10.1979

Date of Appointment :

06.02.2015

DIN No.:

07063780

PAN No.:

AFYPR1266G

MAJOR SHAREHOLDERS

AS On 22.01.2015

Names of Shareholders	No. of Shares	%age holding
Gautam Chand Ranka	35000	70.00
Chandra Prakash Joshi	15000	30.00
Total	50000	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Diamonds. [Confirmed by management]
Products :	Diamonds.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Rough Diamond
Countries :	· Belgium · Hong Kong · Dubai
Terms :
Selling :	Cash, L\C and Credit
Purchasing :	Cash, L\C and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Net Japan (Hong Kong) Company Limited, Hong Kong
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark:	Not Available

Customers :

Wholesalers and Retailers

Reference :	Janman Jewels Private Limited, Surat, Gujarat, India
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark:	Not Available

No. of Employees :

10 (Approximately)

Bankers :

· HDFC Bank Limited

· Indusind Bank Limited

Banker Name	IDBI Bank Limited
Branch Address	Grounf Floor, Utashi Building, Near Mount Mery Steps, Bandra (West), Mumbai, Maharashtra, India
Person Name (With Designation)	Mr. Ashish (Assistant Managar)
Contact Number	91-22-26428531
Name of Account Holder	Nobel Jewels Private Limited
Account Number	06111020000004015
Account Since (Date/Year of Account Opening)	2015
Average Balance Maintained (If Possible)	Rs. 20.000 Million
Credit Facilities Enjoyed (If any)	Current Account Only
Account Operation	Transaction are Fair.
Remarks (If any): Mr. Ashish informed subject company have fair transaction with bank. No complaints.

Auditors :
Name :	RMR and company Chartered Accountants
Address :	B.203, Shrihari Park, Salri Pant Building, Civil char Easta, Sagrampura, Surat – 395001, Gujarat, India
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 04.09.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		04.09.2015
SHAREHOLDERS FUNDS
1] Share Capital		0.500
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.352
NETWORTH		0.852
LOAN FUNDS
1] Loans		0.103
TOTAL BORROWING		0.103
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.955
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.047
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	159.267
	Cash & Bank Balances	1.576
	Other Current Assets	0.000
	Loans & Advances	89.900
Total Current Assets		250.742
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	249.810
	Other Current Liabilities	0.000
	Provisions	0.024
Total Current Liabilities		249.834
Net Current Assets		0.908
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.955

PROFIT & LOSS ACCOUNT

	PARTICULARS	04.09.2015
	SALES
	Income	372.850
	Other Income	0.000
	TOTAL	372.850
Less	EXPENSES
	Purchase	367.329
	Custom Duty	4.268
	Import Expenses	0.137
	Bank Charges	0.039
	Brokerage	0.162
	Conveyance Expense	0.026
	Director Salary	0.350
	Office Expenses	0.025
	Printing and Stationery	0.009
	Salary	0.138
	Telephone Expenses	0.015
	TOTAL	372.498
	NET PROFIT	0.352
	Earnings / (Loss) Per Share (Rs.)	0.704

Expected Sales (2015-2016): Rs.1500.000 Million

The above information has been parted by Mr. Gautam (Director).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	04.09.2015
Current Maturities of Long term debt	NA
Cash generated from operations	NA
Net cash flows from (used in) operations	NA

KEY RATIOS

PARTICULARS		04.09.2015
Net Profit Margin (PAT / Sales)	(%)	0.00
Debt Equity Ratio (Total Debt /Networth)		0.012
Current Ratio (Current Asset/Current Liability)		1.00

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	Yes
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	No
18	Major suppliers	Yes
19	Major customers	Yes
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 6 months years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last 6 months years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
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 & 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: NO CHARGES EXIST FOR COMPANY

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.66.75
UK Pound	1	Rs.100.29
Euro	1	Rs.72.89

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAS
Report Prepared by :	GEET

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.