MIRA INFORM REPORT

Report No. :	485799
Report Date :	15.01.2018

IDENTIFICATION DETAILS

Name :	MOGUL GEMS AND JEWELS DMCC
Registered Office :	23 H Al Mas Tower, Jumeirah Lakes Towers, PO Box: 625842 & 340505, Dubai
Country :	United Arab Emirates
Date of Incorporation :	13.12.2012
Legal Form :	Limited Liability Company
Line of Business :	Subject is engaged in the import and export of gems, loose diamonds and jewellery.
No. of Employees :	4

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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
United Arab Emirates	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

UNITED ARAB EMIRATES - ECONOMIC OVERVIEW

The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%.

Since the discovery of oil in the UAE more than 30 years ago, the country has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. The country's free trade zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors.

The global financial crisis of 2008-09, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency and ultimately a $20 billion bailout from the UAE Central Bank and Abu Dhabi Government that was refinanced in March 2014.

Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. Low oil prices have prompted the UAE to take steps to reduce its social spending, including eliminating fuel subsidies in August 2015, but the UAE has sufficient assets to cover its deficits with money from its sovereign investment funds. The UAE's strategic plan for the next few years focuses on economic diversification and creating more job opportunities for nationals through improved education and increased private sector employment.

Source : CIA

SUMMARY

Company Name : MOGUL GEMS AND JEWELS DMCC

Country of Origin : Dubai, United Arab Emirates

Legal Form : Limited Liability Company

Registration Date : 13th December 2012

DMCC Number : 3619

Trade Licence Number : 32652

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Total Workforce : 4

Activities : Import and export of gems, loose diamonds and jewellery

Financial Condition : Undetermined

Payments : No complaints

Person Interviewed : Ajay Bhandari, Managing Director

COMPANY NAME

MOGUL GEMS AND JEWELS DMCC

ADDRESS

Registered & Physical Address

Building : 23 H Al Mas Tower

Area : Jumeirah Lakes Towers

PO Box : 625842 & 340505

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 4304907

Facsimile : (971-4) 4305067

Mobile : (971-56) 6949716 / 6473230 / 7971062

Email : mogulgemsdmcc@gmail.com / info@mogulgems.com

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.

KEY PRINCIPALS

Name Nationality Position

· Ajay Bhandari Indian Managing Director

· Rakhee Bhandari Indian Director

· Sudish Kumar - Accountant

· Neelu Soliwal - Sales Manager

LEGAL FORM & OWNERS

Date of Establishment : 13^th December 2012

Legal Form : Limited Liability Company

DMCC No. : 3619

Trade Licence No. : 32652

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Name of Shareholder (s)

· Ajay Bhandari

· Rakhee Bhandari

OPERATIONS

Activities: Engaged in the import and export of gems, loose diamonds and jewellery.

Import Countries: Europe and the Far East.

Subject has a workforce of 4 employees.

FINANCIAL DATA

Companies registered in Dubai, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· National Bank of Ras Al Khaimah

PO Box: 1531

Dubai

Tel: (971-4) 2226291

Fax: (971-4) 2281312

· Emirates National Bank of Dubai

Baniyas Street

PO Box: 777

Dubai

Tel: (971-4) 2222555

Fax: (971-4) 2221110

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

The subject and its shareholders/owners have been searched in the following databases; Office of Foreign Assets Control (OFAC), United Nations Security Council Sanctions, Australian Sanctions List, US Consolidated Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and nothing adverse could be found on the exact names listed within the report.

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.53
UK Pound	1	INR 86.05
Euro	1	INR 76.53
UAE DH	1	INR 17.25

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	NIT

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.