MIRA INFORM REPORT

Report No. :	350408
Report Date :	23.11.2015

IDENTIFICATION DETAILS

Name :	MYSOON EXPORT PRIVATE LIMITED

Registered Office :	Plot No. 6/1919, 3^rd Floor, Office No. 302, Prayosha Apartment, Jadakhadi, Mahidharpura, Surat-395003, Gujarat
Mobile No.:	91-9920950849 [Mr. Ashish Bohra]

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	16.07.2010

Com. Reg. No.:	04-061621

Capital Investment / Paid-up Capital :	Rs. 0.100 Million

CIN No.: [Company Identification No.]	U52393GJ2010PTC061621

IEC No.:	Not Divulged

TAN No.: [Tax Deduction & Collection Account No.]	SRTM05809G

PAN No.: [Permanent Account No.]	AAGCM6541F

Legal Form :	Private Limited Liability Company

Line of Business :	Traders of Diamond

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Undetermined

Payment Behaviour :	--

Litigation :	--

Comments :	Subject was established in the year 2010 and it is engaged in the trading business of diamonds. As per our investigation, our executive has spoken to Mr. Ashish Bohra, Director of the subject company and he claimed that the company has shut down its business operations 8^th months before due to no business in the subject company. Further he has also informed us that they has started new company but not provided the information for the same. As per the Registry record the subject company is active and no other information could be made available from any sources. In view of aforesaid, we do not recommend any business dealings with the subject company.

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

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

INFORMATION DECLINED BY

Name :	Mr. Ashish Bohra
Designation :	Director
Contact No.:	91-9920950849
Date :	18.11.2015

LOCATIONS

Registered Office :	Plot No. 6/1919, 3^rd Floor, Office No. 302, Prayosha Apartment, Jadakhadi, Mahidharpura, Surat-395003, Gujarat, India
Tel. No.:	91-261-3108443
Mobile No.:	91-9920950849 [Mr. Ashish Bohra]
Fax No.:	Not Available
E-Mail :	ashishbohra86@yahoo.com ashish_perfect@yahoo.com
Location :	Owned

DIRECTORS

AS ON 27.09.2014

Name :	Mr. Ashish Bohra
Designation :	Director
Address :	Plot No. 302, 3^rd Floor, Prayosha Apartments, Jadakhadi, Mahidharpura, Surat-395003, Gujarat, India
Date of Birth/Age :	20.02.1986
PAN No.:	AKQPB1653J
Date of Appointment:	16.07.2010
Din No.:	03099740

Name :	Mr. Mohit Gajendra Kumar Bhandari
Designation :	Director
Address :	Plot No. 1919, Office No. 302, 3^rd Floor, Prayosha Apartments, Jadakhadi, Mahidharpura, Surat-395003, Gujarat, India
Date of Birth/Age :	12.11.1989
PAN No.:	ATJPB3475C
Date of Appointment:	16.07.2010
Din No.:	03099777

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2014

Names of Shareholders	No. of Shares	% of Holding
Ashish Bohra	5000	50.00
Mohit Gajendra Kumar Bhandari	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 27.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Traders of Diamond

Products :	Diamond

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
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 Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	M.R. and Company Chartered Accountants
Address :	B-203,Shree Hari Park, Near Centre Point Building, Sagrampura, Surat-395002, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAEFM2880L

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.10/- each	Rs. 0.100 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	0.100	0.100	0.100
(b) Reserves & Surplus	1.436	0.995	0.585
(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)	1.536	1.095	0.685

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.045	0.031	0.013
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.045	0.031	0.013

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	1050.742	841.538	1077.204
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	0.247	0.208	0.246
Total Current Liabilities (4)	1050.989	841.746	1077.450

TOTAL	1052.570	842.872	1078.148

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.972	1.074	1.187
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	61.306	108.524	106.029
(e) Other Non-current assets	0.001	0.002	0.003
Total Non-Current Assets	62.279	109.600	107.219

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2.512	117.059	135.378
(c) Trade receivables	962.172	603.064	790.739
(d) Cash and cash equivalents	25.088	12.831	44.648
(e) Short-term loans and advances	0.519	0.318	0.164
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	990.291	733.272	970.929

TOTAL	1052.570	842.872	1078.148

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Turnover	3392.120	3328.538	5102.725
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA

Less	EXPENSES	NA	NA	NA

	PROFIT/ (LOSS) BEFORE TAX	NA	NA	NA

Less	TAX	NA	NA	NA

	PROFIT/ (LOSS) AFTER TAX	0.441	0.409	0.395

	Earnings / (Loss) Per Share (Rs.)	44.10	40.98	39.50

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(34.778)	(29.155)	68.350

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	0.00	0.00	0.00

Current Ratio (Current Asset/Current Liability)	0.94	0.87	0.90

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	0.100	0.100	0.100
Reserves & Surplus	0.585	0.995	1.436
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.685	1.095	1.536

long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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)
Turnover	5102.725	3328.538	3392.120
		(34.769)	1.910

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Turnover	5102.725	3328.538	3392.120
Profit	0.395	0.409	0.441
	0.01%	0.01%	0.01%

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)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
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	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
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: 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.66.09
UK Pound	1	Rs.101.04
Euro	1	Rs.70.86

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	KAR

Report Prepared by :	KVT

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.

MIRA INFORM REPORT

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

Unit