U.S. Securities and Exchange Commission
                             Washington, D.C. 20549

                                   Form 10-QSB

                                   (Mark One)

           [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended June 30, 2001

                                   ----------

            [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                            THE EXCHANGE ACT OF 1934

                        For the transition period from to

                                   ----------

                        Commission File Number 000-27949

                                   ----------

                     First India Diversified Holdings, Inc.

                                   ----------

        (Exact name of small business issuer as specified in its charter)

             New York                                      06-1551283
  (State of other jurisdiction                 (IRS Employer Identification No.)
of incorporation or organization)

                     First India Diversified Holdings, Inc.
                              257-10 Union Turnpike
                           Floral Park, New York 11004
                                 (888) 238-6400

                                   ----------

                           (Issuer's telephone number)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes    No X

State number of shares  outstanding  of each of the  issuer's  classes of common
equity as of the latest practicable date. As of June 30, 2001, 61,000,000 shares
of the registrant's no par value common stock were issued and outstanding.

            Transmittal Small Business Disclosure Format (check one):

          Yes X                                                  No

<PAGE>

Item II MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS:

The following  discussion of the results of operations  and financial  condition
should be read in conjunction with the reviewed financial statements and related
notes appearing under the caption "Financial Statements".

The  Company  did not have any  revenues  during  the three  month or nine month
period  ended June 30,  2001 or in the period from  inception  (July 2, 1999) to
June 30,  2001.  The  Company  incurred  aggregate  expenses  of  $105,100  from
inception.  These expenses  relate to evaluation of proposed  transactions.  The
Company had minor  amounts of dividend  income which  slightly  reduced its loss
from the amount of expenses incurred.

Liquidity and Capital Resources

The  Company  had no assets on June 30,  2001.  The  Company  will need to raise
additional substantial capital in order to effectuate any of the transactions it
is  evaluating.  There is no assurance  that these  efforts to raise  additional
capital will be successful nor any assurance  that the Company's  actual capital
needs will not be greater than  anticipated,  or that the Company will  generate
revenues to fund its operations in the absence of other sources.

PART II-OTHER INFORMATION

The statements in this  quarterly  report on Form 10-QSB that are not historical
constitute "forward-looking statements". Said forward-looking statements involve
risks and  uncertainties  which may cause the  actual  results,  performance  or
achievements of the Company and its subsidiaries to be materially different from
any future results,  performance or  achievements,  expressed or implied by such
forward-looking  statements.  These forward-looking statements are identified by
their  use  of  such  terms  and  phrases  as  "expects",   "intends",  "goals",
"estimates", "projects", "plans", "anticipates", "should", "future", "believes",
and "scheduled".

The variables which may cause differences  include,  but are not limited to, the
following:  general economic and business  conditions;  competition;  success of
operating initiatives; operating costs; advertising and promotional efforts; the
existence  or absence of adverse  publicity;  changes in  business  strategy  or
development  plans; the ability to retain management;  availability,  terms, and
deployment   of  capital;   business   abilities   and  judgment  of  personnel;
availability  of  qualified  personnel;  labor  and  employment  benefit  costs;
availability and costs of raw materials and supplies; and changes in, or failure
to comply with various  government  regulations.  Although the Company  believes
that the  assumptions  could  be  inaccurate,  and  therefore,  there  can be no
assurance that the forward-looking statements included in this filing will prove
to be  accurate.  In  light of the  significant  uncertainties  inherent  in the
forward-looking  statements  included herein,  the inclusion of such information
should not be regarded as a representation by the Company or any person that the
objectives and expectations of the Company will be achieved.

<PAGE>

                      FIRST INDIA DIVERSIFIED HOLDING, INC.
                          (A Development Stage Company)

                          REVIEWED FINANCIAL STATEMENTS
                                   (Unaudited)

                       Nine months ended June 30, 2001 and
                   For The Period July 2, 1999 (Inception) to
                                  June 30, 2001

<PAGE>

FIRST INDIA DIVERSIFIED HOLDINGS, INC.

TABLE OF CONTENTS

                                                                            Page

REVIEW REPORT OF INDEPENDENT ACCOUNTANT                                        1

FINANCIAL STATEMENTS

    Balance Sheet as of June 30, 2001                                          2

    Statement of Operations for the three months
       and nine months ended June 30, 2001 and for the
       period July 2, 1999 (inception) to June 30, 2001                        3

    Statement of  Stockholders'  equity for the nine months
        ended June 30, 2001 and for the period July 2, 1999
        (inception) to June 30, 2001                                           4

    Statement of Cash Flows for the nine months ended June 30,
       2001 and for the period July 2, 1999 (inception)
       to June 30, 2001                                                        5

    Notes to Financial Statements                                            6-7


<PAGE>

Aaron Stein
CERTIFIED PUBLIC ACCOUNT

                                                              981 ALLEN LANE
                                                               P.O. BOX 406
                                                            WOODMERE, NY 11598
                                                               516-569-0520

To the Board of Directors and Stockholders'
   First India Diversified Holdings, Inc.

I have  reviewed  the  accompanying  balance  sheet of First  India  Diversified
Holdings,  Inc. (a  development  stage  enterprise) as of March 31, 2001 and the
related statements of operations,  stockholders' equity (deficit) and cash flows
for the nine  months  ended June 30,  2001 and for the period  from July 2, 1999
(inception) to June 30, 2001. These financial  statements are the responsibility
of the Company's management.

I  conducted  my review in  accordance  with the  standards  established  by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data and making  inquiries of persons  responsible  for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the expression of an opinion regarding the financial  statements taken as whole.
Accordingly, I do not express such an opinion.

Based on my review, I am not aware of any material  modifications that should be
made to the accompanying  financial statements for them to be in conformity with
generally accepted accounting principles.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 2 to the
financial statements,  the Company has suffered recurring losses from operations
and has a net capital deficiency that raises substantial doubt about its ability
to continue as a going  concern.  Management's  plans in regard to these matters
are also  described  in Note 2. The  financial  statements  do not  include  any
adjustments that might result from the outcome of this uncertainty.


Aaron Stein
Woodmere, New York
August 14, 2001


                                       1
<PAGE>

FIRST INDIA DIVERSIFIED HOLDINGS, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
JUNE 30,2001
(Unaudited)


ASSETS

 Current assets
     Cash and cash equivalents                                      $     --
                                                                    --------
                                                                    $     --
                                                                    ========

LIABILITIES AND STOCKHOLDERS' EQUITY

 Liabilities                                                        $     --
                                                                    --------
 Stockholders' Equity
    Common stock, $0.0001 par value,
         100,000,000 shares authorized,
         61,000,000 shares issued and outstanding                      6,100
     Additional paid-in capital                                       99,000
     Deficit accumulated during the development stage               (105,100)
                                                                    --------
                                                                    $     --
                                                                    ========


  See accompanying accountants' review report and notes to financial statements


                                       2
<PAGE>

FIRST INDIA DIVERSIFIED HOLDINGS, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF OPERATIONS

                                Three Months     Nine Months     July 2, 1999
                                    Ended           Ended       (Inception) to
                                June 30, 2001   June 30, 2001    June 30, 2001
                                ------------     -----------     ------------
                                 (Unaudited)     (Unaudited)      (Unaudited)

REVENUES                         $       --      $       --       $       --

EXPENSES                                 --              --         (105,000)
                                 ----------      ----------       ----------

INCOME BEFORE PROVISION FOR
  INCOME TAXES                           --              --         (105,000)

INCOME TAX EXPENSE                       --              --               --
                                 ----------      ----------       ----------

NET INCOME (LOSS)                $       --      $       --       $ (105,000)
                                 ==========      ==========       ==========

LOSS PER SHARE
BASIC                                   nil             nil              nil

AVERAGE NUMBER OF COMMON
  SHARES OUTSTANDING             61,000,000      61,000,000       61,000,000


  See accompanying accountants' review report and notes to financial statements


                                       3
<PAGE>

FIRST INDIA DIVERSIFIED HOLDINGS, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF STOCKHOLDERS EQUITY
(Unaudited)
<TABLE>
<CAPTION>
                                         Common Stock    Additional
                                      -----------------   Paid-in    Accumulated
                                      Shares      Amount  Capital      Deficit        Total
                                      ------      ------  -------    -----------      -----
<S>                                 <C>          <C>      <C>        <C>             <C>
Subscription to common stock
  at par value                      51,000,000   $5,100   $    --   $      --        $  5,100

Subscription to common stock at
  $.01 per share                    10,000,000    1,000    99,000          --         100,000

Net Income-September 30, 1999               --       --        --          --              --
                                    ----------   ------   -------   ---------        --------
Balance-September 30, 1999          61,000,000    6,100    99,000          --         105,100

Net Loss-September 30, 2000                 --       --        --    (105,100)       (105,100)
                                    ----------   ------   -------   ---------        --------
Balance-September 30, 2000          61,000,000    6,100    99,000    (105,100)             --

Net loss-March 31, 2001                     --       --        --          --              --
                                    ----------   ------   -------   ---------        --------
Balance-March 31, 2001              61,000,000    6,100    99,000    (105,100)             --

Net Loss-June 30, 2001                      --       --        --          --              --
                                    ----------   ------   -------   ---------        --------
Balance-June 30, 2001               61,000,000   $6,100   $99,000   $(105,100)       $     --
                                    ==========   ======   =======   =========        ========
</TABLE>

  See accompanying accountants review report and notes to financial statements


                                       4
<PAGE>

FIRST INDIA DIVERSIFIED HOLDINGS, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CASH FLOWS


                                                Nine Months        July 2, 1999
                                                   Ended          (Inception) to
                                               June 30, 2001       June 30, 2001
                                               -------------      --------------
                                                (Unaudited)         (Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:

  Net loss                                       $         --      $  (105,100)

  Adjustments to reconcile net loss to
     cash used in operating activities:                    --               --
                                                -------------      -----------

        Net cash used in operating activities              --         (105,100)
                                                -------------      -----------

CASH FLOWS FROM FINANCING ACTIVITIES:

  Issuance of common stock                                 --          105,100
                                                -------------      -----------

        Net increase in cash and cash equivalents          --               --

 CASH AND CASH EQUIVALENTS, Beginning                      --               --
                                                -------------      -----------
 CASH AND CASH EQUIVALENTS, Ending              $          --      $        --
                                                =============      ===========

Supplemental disclosure of cash flow
  information

   Interest paid                                $          --      $        --
                                                =============      ===========
   Income taxes paid                            $          --      $        --
                                                =============      ===========

  See accompanying accountants' review report and notes to financial statements


                                        5


<PAGE>

                     FIRST INDIA DIVERSIFIED HOLDINGS, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001


Note 1: Organization, Business and Significant Accounting Policies

        Organization

        First India Diversified Holdings, Inc. (the "Company") was  incorporated
        on July 2, 1999 under the laws of the State of New York to engage in any
        lawful  corporate  activity,  including,  but not limited  to,  selected
        mergers and  acquisitions.  The Company  has sold  10,000,000  shares of
        Common  Stock  in a  "private  placement"  pursuant  to Rule  504 of the
        Securities Act of 1933. The Company is  authorized  to issue  61,000,000
        shares of Common Stock with a par value of $0.0001 per share.

        Business

        The Company has not been successful in implementing its business plan to
        take advantage of  opportunities  in supplying both retail and wholesale
        imported  food  products to the food service  industry as well as to New
        York's growing multi-ethnic population. The Company will seek effectuate
        an acquisition or merge into another business entity.

        Significant accounting policies

        Use of Estimates in Financial  Statements -- Management  uses  estimates
        and assumptions in preparing  these  financial  statements in accordance
        with  generally  accepted  accounting  principles.  Those  estimates and
        assumptions  affect the reported amounts of assets and liabilities,  the
        disclosure  of  contingent  assets  and  liabilities,  and the  reported
        revenue and expenses. Actual results could vary  from the estimates that
        were used.

        Cash and Cash  Equivalents -- For purposes of reporting cash flows,  the
        Company considers all cash accounts, which are not subject to withdrawal
        restrictions or penalties,  as cash and equivalents in the  accompanying
        balance sheet.

        Income Taxes -- The provision for income taxes are computed based on the
        pretax  loss  included in the  Statement  of  Operations.  The asset and
        liability  approach  is  used  to  recognize  deferred  tax  assets  and
        liabilities  for the  expected  future  tax  consequences  of  temporary
        differences between the carrying amounts and the tax bases of assets and
        liabilities.

        Earnings  per Common  Share - Basic loss per  common  share is  computed
        using the weighted  average number of common shares  outstanding  during
        the year.



                                        6

<PAGE>

                     FIRST INDIA DIVERSIFIED HOLDINGS, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

Note 2: Going Concern Consideration

        The accompanying  financial  statements have been prepared assuming that
        the  Company  will  continue  as a going  concern.  The  Company  has no
        operating  history nor any  revenues or earnings  from  operations.  The
        Company will, in all  likelihood,  sustain  operating  expenses  without
        corresponding   revenues,   until  the   consummation   of  a   business
        combination.  The Company's lack of financial resources and liquidity at
        September  30,  2000  raises  substantial  doubt  about its  ability  to
        continue as a going concern. The financial statements do not include any
        adjustments that might result from the outcome of this uncertainty.  The
        Company has been  dependent  upon  raising  equity  funding to remain in
        existence  and will  continue to be dependent  upon such funding until a
        business combination has been consummated.


                                       7
<PAGE>

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

 (a) EXHIBITS

 Exhibit                                           Description of Exhibits
 -------                                           -----------------------

    None

(b) Reports on Form 8-K

    None


SIGNATURES

      In accordance  with the  requirements  of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                     First India Diversified Holdings, Inc.


Date:    August 15, 2001
                                    /s/ David Griffith
                                    ------------------------------------------
                                    David Griffith, President