MIRA INFORM REPORT

Report No. :	307407
Report Date :	16.02.2015

IDENTIFICATION DETAILS

Name :	KGK DIAMONDS (I) PRIVATE LIMITED
Registered Office :	DE-4011-4016, Tower D, 4^th Floor, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.10.2009
Com. Reg. No.:	11-196167
Capital Investment / Paid-up Capital :	Rs. 292.620 Millions
CIN No.: [Company Identification No.]	U74999MH2009PTC196167
TAN No.: [Tax Deduction & Collection Account No.]	MUMK19593A
PAN No.: [Permanent Account No.]	AADCK7579A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Marketer of Diamonds and Jewellery and Retailer of Jewellery.
No. of Employees :	Not Divulged

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 is one of the companies of a well-known KGK Group. It has satisfactory track record. Profitability of the company is fair. General financial positon of the company appears satisfactory as well. Trade relations are reported as fair. Business is active. Payment are reported to be usually correct. In the presence of strong KGK Group, 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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: “BBB”
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	31.01.2014

Rating Agency Name	CRISIL
Rating	Short term rating: “A3”
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	31.01.2014

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION DECLINED BY

Name :	Mr. Ujwal Jain
Designation :	Accounts Manager
Contact No.:	91-22-40288888
Date :	10.02.2015

LOCATIONS

Registered/ Sales/ Head Office :	DE-4011-4016, Tower D, 4^th Floor, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Tel. No. :	91-22-40077777/ 40799999
Fax No. :	91-22-40799800/ 40077700
E-Mail :	roc.mumbai@kgkmail.com enquiry.diaindia@kgkmail.com mumbai.tax@kgkmail.com
Website :	www.debeerssightholder.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Navrattan Kothari

Designation :

Director

Address :

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

Date of Birth/Age :

27.06.1942

Date of Appointment :

01.10.2009

PAN No.:

AACPK6149G

DIN No. :

00137063

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51900MH1984PTC032788	KGK DIAJEWELS PRIVATE LIMITED	Director	13/08/1985	13/08/1985	08/07/2014	Active	NO
2	U67120MH1985PTC037351	KAYGEE HOLDINGS PVT LTD	Director	03/09/1985	03/09/1985	-	Active	NO
3	U70100MH1988PTC046524	PRECIOUS PROPERTIES PRIVATE LIMITED	Director	13/02/1989	13/02/1989	15/11/2013	Active	NO
4	U36912MH1989PTC054783	KOTHARI DIAMOND INDUSTRIES PRIVATE LIMITED	Director	28/12/1989	28/12/1989	10/10/2014	Active	NO
5	U36910MH1990PTC054834	NAVRATNA GEMS PRIVATE LIMITED	Director	02/01/1990	02/01/1990	-	Active	NO
6	U67120MH1983PTC031248	POPULAR INVESTMENTS PRIVATE LIMITED	Director	15/05/1991	15/05/1991	15/12/2014	Active	NO
7	U36911MH1990PTC059592	KGK JEWELLERY PRIVATE LIMITED	Director	12/08/1993	12/08/1993	15/01/2015	Active	NO
8	U29269MH1960PLC011589	PAPER MILL PLANT & MACHINERY MANUFACTURERS LIMITED	Director	15/10/1993	15/10/1993	-	Active	NO
9	U51900MH1991PTC060185	TRISHUL COMMERCIALS PRIVATE LIMITED	Director	21/03/1994	21/03/1994	-	Active	NO
10	U99999MH1964PTC012833	KALPATARU GARDENS PRIVATE LIMITED	Director	05/07/1994	05/07/1994	01/11/2012	Active	NO
11	U67120MH1994PTC082200	KGK TRADELINKS PRIVATE LIMITED	Director	20/10/1994	20/10/1994	01/02/2012	Active	NO
12	L45400TN1994PLC028895	GOTHI PLASCON (INDIA) LIMITED	Director	09/12/1994	09/12/1994	03/05/2007	Active	NO
13	U65910MH1995PTC085359	MARUDHAR LEASE FINANCING PRIVATE LIMITED	Director	08/02/1995	08/02/1995	-	Active	NO
14	U36910MH1990PTC055961	KGK CREATIONS (MFG) PRIVATE LIMITED	Director	17/05/1995	17/05/1995	-	Active	NO
15	U55101RJ1997PTC013071	PANCHRATNA MOTELS AND RESORTS PRIVATE LIMITED	Director	02/01/1997	02/01/1997	-	Active	NO
16	U36911RJ1997PLC013181	JAIPUR GEM BOURSE LTD.,	Director	24/01/1997	24/01/1997	-	Active	NO
17	U01117RJ1996PTC013020	PINKCITY GARDENS PRIVATE LIMITED	Director	09/05/1998	09/05/1998	-	Active	NO
18	U01119RJ1995PTC009381	PRERNA AGRICULTURAL FARMS PRIVATE LIMITED	Director	09/05/1998	09/05/1998	-	Active	NO
19	U45201RJ1996PTC012976	TANMAYA GARDENS PRIVATE LIMITED	Director	09/05/1998	09/05/1998	-	Active	NO
20	U55101RJ1998PTC014617	RATNALAYA HOTELS AND DEVELOPERS PRIVATE LIMITED	Director	21/05/2001	21/05/2001	-	Active	NO
21	U45201RJ2001PTC017127	SUBAKO DEVELOPERS PRIVATE LIMITED	Director	07/08/2001	07/08/2001	-	Active	NO
22	U45201RJ2001PTC017320	KGK INFRASTRUCTURE PRIVATE LIMITED	Director	12/12/2001	12/12/2001	-	Active	NO
23	U74900RJ1997PTC014154	KGK INNOVATIVE PRIVATE LIMITED	Director	30/04/2003	30/04/2003	10/07/2014	Active	NO
24	U18101MH1993PTC072859	KGK CREATIONS PROCESSING PRIVATE LIMITED	Director	12/07/2003	12/07/2003	15/01/2015	Active	NO
25	U67120MH1995PTC084439	KGK DIA PROCESSING PRIVATE LIMITED	Director	18/02/2004	18/02/2004	02/07/2014	Active	NO
26	U55100MH2004PTC149500	JAL MAHAL RESORTS PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
27	U70100MH1999PTC119578	KGK CREATIONS (INDIA) PRIVATE LIMITED	Director	02/02/2008	23/03/2006	09/07/2014	Active	NO
28	U63040WB1994PLC062139	GLOBE FOREX & TRAVELS LTD	Director	01/07/2006	01/07/2006	01/02/2008	Active	NO
29	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	28/09/2006	28/09/2006	29/09/2008	Active	NO
30	U45201RJ2005PTC020591	TRIMURTI BUILDHOME PRIVATE LIMITED	Director	30/09/2006	30/09/2006	-	Active	NO
31	U45201RJ2005PTC020299	CLASSIC BUILDTECH PRIVATE LIMITED	Director	30/09/2006	30/09/2006	01/10/2011	Active	NO
32	U45201RJ2006PTC023216	AXIS ROYAL REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	12/10/2006	12/10/2006	-	Active	NO
33	U45201RJ2006PTC023227	KGK REAL ESTATE PRIVATE LIMITED	Director	16/10/2006	16/10/2006	-	Active	NO
34	U36911RJ1988PTC004689	FINE GEMS EXPORT PVT.LTD.	Director	08/06/2007	15/12/2006	-	Active	NO
35	U45201RJ2007PTC023836	SOUTHERN BUILDMART PRIVATE LIMITED	Director	12/02/2007	12/02/2007	01/10/2009	Active	NO
36	U45201RJ2007PTC023944	ANSAL JKD PEARL DEVELOPERS PRIVATE LIMITED	Director	01/03/2007	01/03/2007	01/10/2009	Active	NO
37	U45201MH1983PTC031708	MARUDHAR PROPERTIES PRIVATE LIMITED	Director	06/04/2007	06/04/2007	-	Active	NO
38	U70101RJ1998PTC015206	PRANAY CREATIONS PRIVATE LIMITED	Director	29/09/2007	23/04/2007	-	Active	NO
39	U36912MH2007PTC171061	KGK GEMS PRIVATE LIMITED	Director	22/05/2007	22/05/2007	18/12/2013	Active	NO
40	U45201RJ2007PTC024462	INCREDIBLE REAL ESTATE PRIVATE LIMITED	Director	23/05/2007	23/05/2007	01/10/2009	Active	NO
41	U45400MH2007PTC171281	ANK RESOURCES PRIVATE LIMITED	Director	04/06/2007	04/06/2007	-	Active	NO
42	U45201RJ2007PTC024722	SUNMOON BUILDMART PRIVATE LIMITED	Director	11/07/2007	11/07/2007	01/10/2009	Active	NO
43	U45201RJ2007PTC024822	ABHINAV PROPMART PRIVATE LIMITED	Director	08/08/2007	08/08/2007	18/01/2011	Active	NO
44	U45201RJ2007PTC024823	ROCKTUFF REAL ESTATE PRIVATE LIMITED	Director	08/08/2007	08/08/2007	04/12/2013	Active	NO
45	U45201RJ2007PTC024824	SYNERGY LANDMART PRIVATE LIMITED	Director	08/08/2007	08/08/2007	18/01/2011	Active	NO
46	U67190MH1996PTC097558	COMET PORTFOLIO SERVICES PRIVATE LIMITED	Director	17/09/2007	17/09/2007	-	Active	NO
47	U80302RJ2007NPL025326	INDIAN INSTITUTE OF GEMS AND JEWELLERY JAIPUR	Director	16/11/2007	16/11/2007	-	Active	NO
48	U45201RJ2006PTC022962	SHRI KALYAN BUILDMART PRIVATE LIMITED	Director	29/09/2008	05/01/2008	13/11/2014	Active	NO
49	U45200MH2008PTC183162	KGK REALTIES PRIVATE LIMITED	Director	04/06/2008	04/06/2008	-	Active	NO
50	U45201RJ2008PTC027707	KGK INFRASTRUCTURE AND DEVELOPERS PRIVATE LIMITED	Director	10/11/2008	10/11/2008	-	Active	NO
51	U14200MH2009PTC192282	KGK RESOURCES PRIVATE LIMITED	Director	09/05/2009	09/05/2009	-	Active	NO
52	U14200MH2009PTC192284	VKK RESOURCES PRIVATE LIMITED	Director	09/05/2009	09/05/2009	-	Active	NO
53	U14200MH2009PTC192291	SAY RESOURCES PRIVATE LIMITED	Director	09/05/2009	09/05/2009	-	Active	NO
54	U74999MH2009PTC196167	KGK DIAMONDS (I) PRIVATE LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO
55	U36911MH2008PTC187926	KGK ENTICE (INDIA) PRIVATE LIMITED	Director	15/09/2010	14/10/2009	-	Active	NO
56	U70109RJ1995PTC011234	MARUGANDHA FARMS PRIVATE LIMITED	Director	10/09/2011	18/11/2010	-	Active	NO
57	U70109RJ1995PTC010501	LOVELY FARMS PVT LTD	Director	10/09/2011	19/11/2010	-	Active	NO
58	U15203RJ1992PTC006854	KRISHNA KUNJ PRIVATE LIMITED	Director	10/09/2011	19/11/2010	-	Active	NO
59	U70109RJ1995PTC011235	SATLUJ FARMS PRIVATE LIMITED	Director	10/09/2011	19/11/2010	-	Active	NO
60	U51398MH1999PTC119580	KOTHARI CREATIONS PRIVATE LIMITED	Director	30/09/2011	24/11/2010	-	Active	NO
61	U14200MH2009PTC192283	SNK Resources Private Limited	Director	14/08/2011	01/12/2010	08/07/2014	Active	NO
62	U45201RJ2010PTC033561	KGK INFRASTRUCTURE (INDIA) PRIVATE LIMITED	Director	26/10/2013	14/12/2010	01/11/2014	Active	NO
63	U70109RJ1995PTC010502	ROADSIDE FARMS PVT LTD	Director	10/09/2011	08/01/2011	-	Active	NO
64	U15494RJ1995PTC010352	PANNA AGRO PVT LTD	Director	10/09/2011	08/01/2011	-	Active	NO
65	U70101RJ1992PTC007100	KRITIKA APARTMENTS PRIVATE LIMITED	Director	10/09/2011	08/01/2011	-	Active	NO
66	U70102MH2011PTC213983	KGK HOMES PRIVATE LIMITED	Director	29/09/2011	01/03/2011	19/12/2013	Active	NO
67	U70200MH2011PTC214097	KGK DWELLINGS PRIVATE LIMITED	Director	29/09/2011	01/04/2011	-	Active	NO
68	U70101RJ2011PTC035180	DEEPAANGAN DEVELOPERS PRIVATE LIMITED	Director	12/05/2011	12/05/2011	01/10/2012	Active	NO
69	U45201RJ2011PTC035250	DEEPPRABHA DEVELOPERS PRIVATE LIMITED	Director	20/05/2011	20/05/2011	01/10/2012	Active	NO
70	U70101RJ2011PTC035253	NAMOKAR LANDCON PRIVATE LIMITED	Director	20/05/2011	20/05/2011	09/07/2012	Converted to LLP and dissolved	NO
71	U45201RJ2011PTC035451	DEEPAANGAN LAND DEVELOPERS PRIVATE LIMITED	Director	09/06/2011	09/06/2011	01/10/2011	Active	NO
72	U45201RJ2011PTC036390	NAMOKAR BUILDESTATE PRIVATE LIMITED	Director	07/09/2011	07/09/2011	01/10/2011	Active	NO
73	U45200MH2004PTC149191	KGK CREATIONS PRIVATE LIMITED	Director	27/09/2013	01/04/2013	04/07/2014	Active	NO
74	U45201RJ2013PTC042112	KGK PROPERTIES (INDIA) PRIVATE LIMITED	Director	15/04/2013	15/04/2013	-	Active	NO
75	U51109RJ1996PTC012589	JAIPUR AUTOMOBILES PRIVATE LIMITED	Director	29/09/2014	19/03/2014	-	Active	NO

Name :

Mr. Sandeep Navrattan Kothari

Designation :

Director

Address :

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

Date of Birth/Age :

08.11.1971

Date of Appointment :

01.10.2009

PAN No. :

AADPK0011A

DIN No. :

00137694

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36912MH1989PTC054783	KOTHARI DIAMOND INDUSTRIES PRIVATE LIMITED	Director	02/05/1991	02/05/1991	24/11/2010	Active	NO
2	U36910MH1990PTC054834	NAVRATNA GEMS PRIVATE LIMITED	Director	02/05/1991	02/05/1991	24/11/2010	Active	NO
3	U67120MH1983PTC031248	POPULAR INVESTMENTS PRIVATE LIMITED	Director	15/05/1991	15/05/1991	13/09/2012	Active	NO
4	U51900MH1984PTC032788	KGK DIAJEWELS PRIVATE LIMITED	Director	11/05/1992	11/05/1992	08/07/2014	Active	NO
5	U51900MH1991PTC060185	TRISHUL COMMERCIALS PRIVATE LIMITED	Director	21/03/1994	21/03/1994	13/09/2012	Active	NO
6	U67120MH1994PTC082200	KGK TRADELINKS PRIVATE LIMITED	Director	20/10/1994	20/10/1994	01/02/2012	Active	NO
7	U65910MH1995PTC085359	MARUDHAR LEASE FINANCING PRIVATE LIMITED	Director	08/02/1995	08/02/1995	10/09/2012	Active	NO
8	U36910MH1990PTC055961	KGK CREATIONS (MFG) PRIVATE LIMITED	Director	17/05/1995	17/05/1995	24/11/2010	Active	NO
9	U29269MH1960PLC011589	PAPER MILL PLANT & MACHINERY MANUFACTURERS LIMITED	Director	22/11/1995	22/11/1995	-	Active	NO
10	U51398MH1999PTC119580	KOTHARI CREATIONS PRIVATE LIMITED	Director	23/04/1999	23/04/1999	13/09/2012	Active	NO
11	U51109RJ1996PTC012589	JAIPUR AUTOMOBILES PRIVATE LIMITED	Director	20/12/1999	20/12/1999	22/09/2012	Active	NO
12	U74900RJ1997PTC014154	KGK INNOVATIVE PRIVATE LIMITED	Director	20/12/1999	20/12/1999	13/09/2012	Active	NO
13	U18101MH1993PTC072859	KGK CREATIONS PROCESSING PRIVATE LIMITED	Director	30/06/2003	30/06/2003	13/09/2012	Active	NO
14	U67120MH1995PTC084439	KGK DIA PROCESSING PRIVATE LIMITED	Director	18/02/2004	18/02/2004	06/01/2011	Active	NO
15	U45200MH2004PTC149191	KGK CREATIONS PRIVATE LIMITED	Director	21/10/2004	21/10/2004	22/01/2007	Active	NO
16	U55100MH2004PTC149500	JAL MAHAL RESORTS PRIVATE LIMITED	Director	10/11/2004	10/11/2004	09/01/2012	Active	NO
17	U01117RJ1996PTC013020	PINKCITY GARDENS PRIVATE LIMITED	Director	29/09/2005	29/09/2005	-	Active	NO
18	U45201RJ1996PTC012976	TANMAYA GARDENS PRIVATE LIMITED	Director	29/09/2005	29/09/2005	-	Active	NO
19	U55101RJ1997PTC013071	PANCHRATNA MOTELS AND RESORTS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
20	U01119RJ1995PTC009381	PRERNA AGRICULTURAL FARMS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
21	U63040WB1994PLC062139	GLOBE FOREX & TRAVELS LTD	Director	01/07/2006	01/07/2006	04/09/2008	Active	NO
22	U36912MH2007PTC171061	KGK GEMS PRIVATE LIMITED	Director	22/05/2007	22/05/2007	13/09/2012	Active	NO
23	U45400MH2007PTC171281	ANK RESOURCES PRIVATE LIMITED	Director	04/06/2007	04/06/2007	10/09/2012	Active	NO
24	U45201RJ2001PTC017127	SUBAKO DEVELOPERS PRIVATE LIMITED	Director	29/09/2008	20/05/2008	-	Active	NO
25	U45200MH2008PTC183162	KGK REALTIES PRIVATE LIMITED	Director	04/06/2008	04/06/2008	12/09/2012	Active	NO
26	U14200MH2009PTC192282	KGK RESOURCES PRIVATE LIMITED	Director	09/05/2009	09/05/2009	10/09/2012	Active	NO
27	U14200MH2009PTC192283	SNK Resources Private Limited	Director	09/05/2009	09/05/2009	08/07/2014	Active	NO
28	U74999MH2009PTC196167	KGK DIAMONDS (I) PRIVATE LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO
29	U45201RJ2013PTC041820	KGK PROJECTS (INDIA) PRIVATE LIMITED	Director	15/03/2013	15/03/2013	-	Active	NO
30	U45201RJ1988PTC004364	PANCHRATNA BUILDERS PRIVATE LIMITED	Director	09/09/2014	27/03/2014	-	Active	NO

Name :

Mr. Nitin Dhadda

Designation :

Director

Address :

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

Date of Birth/Age :

17.05.1976

Date of Appointment :

30.09.2014

DIN No. :

02542528

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	U70101MH1985PTC035267	VIPKON PROPERTY DEVELOPMENT SERVICES PVT LTD	Director	30/11/2000	30/11/2000	27/05/2011	Active	NO
2	U74999MH2009PTC196167	KGK DIAMONDS (I) PRIVATE LIMITED	Director	30/09/2014	10/03/2014	-	Active	NO

KEY EXECUTIVES

Name :	Dhara Prakash Jain
Designation :	Secretary
Address :	Pawapuri Sty., 'A' Wing, Floor No. 6, Flat No. 601, Seth Moti Shah Lane (Love Lane), Byculla, Mumbai - 400010, Maharashtra, India
Date of Birth/Age :	04.12.1986
Date of Appointment :	20.09.2010
PAN No.:	ALNPJ0120E
Name :	Mr. Ujwal Jain
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Equity Shareholders	No. of Shares
Mr. Sandeep Kothari	8000000
KGK Dia Jewels Private Limited, India	3500000
Navratan Kothari	800000
Anila Kothari	800000
Sanjay Kothari	5913977
Manju Kothari	934933
Preeti Kothari	5800000
Precious Investment (HK) Limited, Hong Kong	2990644
Total	28739554

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

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	10.41
Bodies corporate	12.18
Directors or relatives of Directors	77.41
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Marketer of Diamonds and Jewellery and Retailer of Jewellery.

Products :

Item Code No. (ITC Code)	Product Description
71023910	Cut and Polished Diamonds

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Name of the Person (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

· Indusind Bank Limited, 2401 Gen Thimmayya Road, Contonment, Pune - 411001, Maharashtra, India

· Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr.
Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Roads, Ahmedabad, Gujarat - 380006, India

· The Royal Bank of Scotland N.V., 7^th Floor, Sakhar Bhavan, Nariman Point, Mumbai - 400021, Maharashtra, India

· Antwerp diamond Bank N.V.

· Canara Bank

· Development Credit Bank Limited

· IDBI Bank Limited

· YES Bank Limited

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks (Hypothecation of property situated at BKC)	171.560	214.593
SHORT TERM BORROWINGS
Rupee term loans from banks (Hypothecation of book debts and stock, mortgage of Lease hold premises at Bharat Diamonds Bourse, fixed assets as well as investment property belonging to KGK Group entities.)	9.085	21.784
Foreign currency term loans from banks (Hypothecation of book debts and stock, mortgage of Lease hold premises at Bharat Diamonds Bourse, fixed assets as well as investment property belonging to KGK Group entities.)	5920.856	6199.613
Total	6101.501	6435.99

Auditors :
Name :	Sudit K. Parekh and Company Chartered Accountants
Address :	Ballard House, 2^nd Floor, Adi Marzban Path, Ballard Pier, Fort, Mumbai, Maharashtra,
Income-tax PAN of auditor or auditor's firm :	AAAFS4500P
Memberships :	--
Collaborators :	--
Subsidiary Companies :	· KGK Innovative Private Limited CIN No.: U74900RJ1997PTC014154 · Marine Global Enterprises Private Limited CIN No.: U36912MH1988PTC049022 · Kothari Diamond Industries Private Limited CIN No.: U36912MH1989PTC054783 · Alok Impex Private Limited CIN No.: U36911MH1989PTC051646 · KGK Dia Processing Private Limited (Formely Known As Shubham Amusements Private Limited) CIN No.: U67120MH1995PTC084439 · KGK Gems Private Limited CIN No.: U36912MH2007PTC171061 · Sparkle Gems Inc · KGK Diamonds Inc · Unique Diamonds Private Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Jaipur Automobiles Private Limited · Jal Mahal Resorts Private Limited · KGK Gems · KGK Ventures · KGK Diajewels Private Limited · KGK Jewellery Private Limited · Kaygee Holdings Private Limited · KGK Creations Private Limited CIN No.: U45200MH2004PTC149191 · KGK Creations (India) Private Limited · KGK Creations Processing Private Limited (Formerly Known As KGK Properties Private Limited) CIN No.: U18101MH1993PTC072859 · KGK Entice (India) Private Limited · KGK Homes Private Limited CIN No.: U70102MH2011PTC213983 · KGK Tradelinks Private Limited (Formerly Known as KGK Investments Co. Private Limited) · Kothari Creations Private Limited · Kothari Jewels Private Limited · KG Kothari and Sons. · Navratna Gems Private Limited · Popular Investments Private Limited · Precious Properties Private Limited · Ratnalaya Diamonds Private Limited · SAY Resources Private Limited · SNK Resources Private Limited · KGK Diamonds Co. Limited · KGK Diamonds (Far East) Inc. · KGK Diamonds B.V.B.A. · KGK Diamonds (HK) Limited · KGK Diamonds Israel Limited · KGK Diamonds LLC · KGK Jewellery Inc. · KGK Jewellery (HK) Limited · KGK Jewellery Manufacturing Limited · KGK Diamonds SA Pty Limited (Formerly known as KGK Star Rough Pty Limited) · KGK Jewels (Pty.) Limited · KGK Diamonds (Pty) Limited · Precious Investments (HK) Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
38,000,000	Equity Shares	Rs.10/- each	Rs. 380.000 Millions
2,000,000	Preference Shares	Rs.10/- each	Rs. 20.000 Millions
	Total		Rs. 400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
28,739,554	Equity Shares	Rs.10/- each	Rs. 287.396 Millions
522,453	Preference Shares	Rs.10/- each	Rs. 5.224 Millions
	Total		Rs. 292.620 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	292.620	279.600	258.015
(b) Reserves & Surplus	2664.014	2233.533	1683.828
(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)	2956.634	2513.133	1941.843
(3) Non-Current Liabilities
(a) long-term borrowings	865.222	922.105	840.125
(b) Deferred tax liabilities (Net)	1.671	0.359	0.373
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	6.892	6.182	5.201
Total Non-current Liabilities (3)	873.785	928.646	845.699
(4) Current Liabilities
(a) Short term borrowings	5929.941	6221.397	4820.537
(b) Trade payables	2307.601	4268.428	2600.205
(c) Other current liabilities	125.746	191.431	105.999
(d) Short-term provisions	0.406	0.326	0.409
Total Current Liabilities (4)	8363.694	10681.582	7527.150
TOTAL	12194.113	14123.361	10314.692
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	354.195	379.621	247.241
(ii) Intangible Assets	1.142	1.331	0.092
(iii) Capital work-in-progress	499.111	475.316	15.718
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	69.269	69.268	72.234
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	903.497	816.100	853.689
(e) Other Non-current assets	0.274	3.396	3.152
Total Non-Current Assets	1827.488	1745.032	1192.126
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3470.269	5354.545	4491.843
(c) Trade receivables	6789.398	6579.052	4496.393
(d) Cash and cash equivalents	65.595	399.880	75.201
(e) Short-term loans and advances	38.066	43.581	59.129
(f) Other current assets	3.297	1.271	0.000
Total Current Assets	10366.625	12378.329	9122.566
TOTAL	12194.113	14123.361	10314.692

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	17589.608	15314.863	13350.500
Less	EXPENSES
		TOTAL	17268.932	15042.053	13082.520
	PROFIT/ (LOSS) BEFORE PRIOR PERIOD ADJUSTMENTS AND TAX		320.676	272.810	267.980
Less	FINANCIAL EXPENSES		0.022	0.000	0.063
	PROFIT/ (LOSS) BEFORE TAX		320.654	272.810	267.917
Less	TAX		111.513	90.046	86.941
	PROFIT/ (LOSS) AFTER TAX		209.141	182.764	180.976
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		533.147	350.383	169.407
	BALANCE CARRIED TO THE B/S		742.288	533.147	350.383
	EARNINGS IN FOREIGN CURRENCY
		Cut and Polished Diamonds	10606.641	9374.650	9529.200
		Rough Diamonds	519.250	714.791	597.720
		Sale of Fixed Assets	2.905	0.000	0.000
	TOTAL EARNINGS		11128.796	10089.441	10126.920
	IMPORTS
		Raw Materials	5173.783	7168.636	5826.180
		Stores and Consumables	0.130	1.266	1.996
		Capital Goods	5.220	81.972	37.762
	TOTAL IMPORTS		5179.133	7251.874	5865.938
	Earnings / (Loss) Per Share (Rs.)		7.15	6.54	7.01

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	2.76	2.01	2.62
Return on Investment (ROI) (PBT/Networth)		0.11	0.11	0.14
Debt Equity Ratio (Total Debt/Networth)		2.30	2.84	2.92
Current Ratio (Current Asset/Current Liability)		1.24	1.16	1.21

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	258.015	279.600	292.620
Reserves & Surplus	1683.828	2233.533	2664.014
Net worth	1941.843	2513.133	2956.634
long-term borrowings	840.125	922.105	865.222
Short term borrowings	4820.537	6221.397	5929.941
Total borrowings	5660.662	7143.502	6795.163
Debt/Equity ratio	2.915	2.842	2.298

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)
Total Income	13350.500	15314.863	17589.608
		14.714	14.853

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	13350.500	15314.863	17589.608
Profit	180.976	182.764	209.141
	1.36%	1.19%	1.19%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

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

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10544552	29/12/2014	900,000,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARA SHTRA - 411001, INDIA	C41196742
2	10501304	26/05/2014	350,000,000.00	SOCIETE GENERALE	6TH FLOOR, MOHAN DEV, 13, TOLSTOY MARK, NEW DELHI, DELHI - 110001, INDIA	C05814843
3	10483607	18/02/2014	400,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B98911522
4	10413331	27/02/2013	250,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B71294946
5	10372206	30/07/2012	2,250,000,000.00	STANDARD CHARTERED BANK	ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA	B56188477
6	10359699	21/05/2012	200,000,000.00	THE ROYAL BANK OF SCOTLAND N.V.	7TH FLOOR, SAKHAR BHAVAN, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B40918385
7	10183308	10/08/2012 *	3,300,000,000.00	THE ROYAL BANK OF SCOTLAND N.V.	NORTH AVENUE 4, MAKER MAXITY, LEVEL 3, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	B56683147

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Loans and advances from directors	238.705	222.305
Loans and advances from others	454.957	485.207
Total	693.662	707.512

OPERATIONS:

Operating in a volatile and uncertain environment, the Company tuned out a very good performance. The highlights of the Company’s performance are as under:

In 2013-14, Company’s revenue from operations increased by approx 15 % from Rs. 15296.700 Millions in F.Y. 2012-13 to Rs. 17580.800 Millions in F.Y. 2013-14. During the year, the Company focused on capturing local market, which can be evident from the fact that local sales of the Company has been increased by 36% i.e. Rs. 6422.700 Millions in the current F.Y. 2013-14 as compared to Rs. 4734.800 Millions in the last F.Y. 2012-13. Further, during the F.Y. 2013-14, there is growth of 11% in the Exports of the Company. The Profit before tax and net profit of the Company has also increased by 18 % & 14% respectively in the current F.Y. 2013-14. During the year under review, there is an inflow of Rs. 7.12 Crores from operations. After payments towards capital expenditure, interest, inflows of borrowing and increase in share capital the net cash outflow during the year was Rs. 336.800 Millions.

Finance cost has increased by 6 % i.e from Rs. 34.61 Crores in the F.Y. 2012-13 to Rs. 367.400 Millions in the F.Y. 2013.14 due to increase in the interest rate during the year. The Company has repaid its interest free unsecured borrowing of Rs. 13.900 Millions and secured long term loan of Rs. 35.300 Millions during the year bearing 12.25% interest rate. Short term borrowings has been reduced by an amount of Rs. 291.500 Millions i.e. from Rs. 6220.000 Millions in the F.Y. 2012-13 to Rs. 5930.000 Millions in the F.Y. 2013.14. During the F.Y. 2013-14, the Company has increased its fixed assets base by Rs. 26.000 Millions and increase of Rs. 24.00 Millions towards capital work in progress.

The provision for diminution in the entire value of investment amounting to Rs. 2.965 Millions, made during the previous F.Y. with respect to one of its foreign subsidiary in USA i.e. KGK Diamonds, INC, has been confirmed as an actual loss of value and removed from the Financial Statement. Lastly there has been an increase in the net worth of the Company by an amount of Rs. 443.500 Millions. It depict that this year was in favour of the Company. The Directors are working continuously for increasing the profits of the company and to achieve positive results for the future growth of the Company.

FIXED ASSETS

Tangible Assets

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Motor Vehicles

· Office Equipment

· Computer Equipments

· Other Equipments

Intangible Assets

· Computer Software

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.62.14
UK Pound	1	Rs.95.78
Euro	1	Rs.62.14

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	SUM
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--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	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		50

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.