MIRA
INFORM REPORT
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Report Date : |
3rd
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
PARAS DIAMOND CORP. |
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Registered Office : |
592 Fifth Avenue, 3rd Floor, New York, Zip Code: 10036, United States |
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Country : |
United States |
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Date of Incorporation : |
07/05/1975 |
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Legal Form : |
Corporation – Private |
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Line of Business : |
Wholesalers of diamonds and other precious stones. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
IDENTIFICATION
& EXECUTIVE SUMMARY
Company
Name: PARAS
DIAMOND CORP.
Address: 592
FIFTH AVENUE, 3RD FLOOR
City: NEW YORK
State/Province: NEW
YORK
Zip
Code: 10036
Country: UNITED
STATES
Telephone: 212
869-1366
Facsimile: 212
764-7593
Number
of Employees: 5
Legal
Form: Corporation
- Private
Website: No
website
As
of: --
Sales
/ Revenue: --
Net
Income: --
Total
Equity: --
Business
Activity: Wholesalers of diamonds
and other precious
stones.
NOTE TO CLIENT
Person
Contacted: Mr. Ravi Gopalan, Controller.
Mr.
Gopalan was contacted on December 7, 2005. He offered general business
information, but declined to reveal any financial information. A fax request
was sent, however at the time of this report, the company has yet to respond. If
a reply is received, the report will be amended.
LEGAL
Legal
Form: Corporation
- Private
Since
(D/M/Y): 07/05/1975
State/Province
of Incorporation: NY
Status:
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
Current
Entity Name: PARAS
DIAMOND CORP.
Initial DOS Filing Date: MAY
07, 1975
County:
NEW
YORK
Jurisdiction:
NEW
YORK
Entity
Type: DOMESTIC BUSINESS CORPORATION
Current
Entity Status: ACTIVE
Selected
Entity Address Information DOS Process (Address to which DOS will mail process
if accepted on behalf of the entity)
%
STUART HAMMERMAN
110
E. 59TH ST.
NEW
YORK, NEW YORK, 10022
Registered
Agent
NONE
Managers/Key Personnel
Mr.
Samir Mehta President
Mr.
Ravi Gopalan
Controller
AFFILIATED ENTITIES
There
are no known subsidiaries or affiliated companies as far as can be determined.
BANKS
x
NY
Telephone:
Facsimile:
Account
Number:
Account
Manager:
The
name of a primary bank could not be obtained from management. Outside sources
reveal that the company has conducted previous business with HSBC Bank, but
that information could not be confirmed.
PAYMENT HISTORY
BUSINESS DATE LAST
PAYMENT CREDIT BALANCE CUR 1-
31- 61-
CATEGORY REPTD SALE TERMS
$ $ %
30 60 90 91+ COMMENTS
---------- ----- ----- ------- -------- -------- --- --- --- ---
--- --------
AIR TRANS 05-09 05-09 NET
30 5200 0 0 0
0 0 0
AIR TRANS 05-09 00-00
UNK 100 0 0 0
0 0 0 CUST 9 YR
CELLUL/PAG 05-11 00-00 NET 30
800 0 0
0 0 0 0
FINCL SVCS 05-11 05-10 NET 30
1100 0 0
0 0 0 0
OFFC SUPPL 05-11 99-12 CREDIT
0 0 0
0 0 0 0 CUST 10 YR
AUTO LEASE 04-05 00-00 VARIED
38900 0 0
0 0 0 0 CUST
4 YR
GENERAL 05-01 98-02 NET
30 0 0 0 0
0 0 0 CUST 15 YR
LEASING 05-01 05-01
NOTE 5200 2200 100 0 0
0 0
PACKAGING 03-11 00-00 NET
30 0 0 0 0
0 0 0 CUST 4 YR
TELECOM 04-04 00-00 NET
30 100 0 0 0
0 0 0 CUST 16 YR
CURRENT QUARTER
7200 0 0
0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE CUR 1- 31- 61-
DATE CUR DBT
DBT $ %
30 60 90 91+
-------- --- ---
--- -------- --- --- ---
--- ---
20051100 0 6 0 0 0
0 0 0 0
20051000 0 6 0 100 100 0
0 0 0
20050900 0 6 0 200 100 0
0 0 0
20050800 0 6 0 200 100 0
0 0 0
20050700 0 6 0 100
100 0 0 0
0
20050600 0 6 0 100 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1-
31- 61-
QUARTER YEAR DBT $ % 30
60 90 91+
-------- ------
--- -------- --- --- ---
--- ---
Third 2005 0 200 100 0 0
0 0
Second 2005 0 0 0 0
0 0 0
First 2005 0 1300 100 0
0 0 0
Fourth 2004 0 100 100 0 0
0 0
Third 2004 2 300 89 11
0 0 0
FINANCIAL INFORMATION
Mr.
Gopalan declined to reveal any financial information. Outside sources consulted
failed to add any insight into the financial
condition of this firm.
CURRENT OPERATIONS
NAICS
Code: 42194 Jewelry, Watch, Precious Stone and Precious Metal
SIC
Code: 5094
Number
of Employees: 5
Business
Activity:
Wholesalers
of diamonds and other precious stones.
The
Company's products are distributed throughout the United States and abroad.
The
above address is the headquarters of the company. There is another location on
Avenue of the Americas, also in New York.
PUBLIC RECORD
Name
Searched: PARAS DIAMOND CORP
Debtor
Address: PARAS DIAMOND CORP.
592
5TH AVE FL 3
NEW YORK, NY 10036-4722
Secured
Parties: FANCY TRADING CO, LLC
Filing
Date: 10/3/2003
Filing
Number: 0310031675891
Filing
Type: INITIAL FILING
-----------------------------------------------
Name
Searched: PARAS DIAMOND CORP
Debtor
Address: PARAS DIAMOND CORP
500
SOUTH HILL STREET
LOS
ANGELES, CA 90013
Secured
Parties: HSBC BANK USA
Filing
Date: 6/17/2002
Filing
Number: 02140624
Filing
Type: INITIAL FILING
----------------------------------------------
Name
Searched: PARAS DIAMOND CORP
Debtor
Address: PARAS DIAMOND CORP.
550
SOUTH HILL STREET
LOS
ANGELES, CA 90013
Secured
Parties: HSBC BANK USA
Filing
Date: 7/7/2003
Filing
Number: 0307071291355
Filing
Type: INITIAL FILING
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No
legal actions or banruptcy petitions.
GENERAL COMMENTS
Paras
Diamond Corp., incorporated in 1975, are engaged as wholesalers of
diamonds
and other precious stones. The payment record is satisfactory. We found nothing
seriously derogatory on the subject. The firm is considered responsible for
normal business transactions. Should management provide any further details,
the report will be amended.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |