MIRA
INFORM REPORT
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Report Date : |
16th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
PAYAL
DIAMOND, INC. |
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Registered Office : |
10 West 46th Street Suite #1701, New York 10036, United States |
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Country : |
United
States |
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Date of Incorporation : |
31/07/1998 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Wholesaler of diamonds and jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 : PAYAL
DIAMOND, INC.
Address : 10 WEST 46TH
STREET SUITE #1701
City : NEW
YORK
State/Province : NEW YORK
Zip
Code :
10036
Country : UNITED
STATES
Telephone : 212 944-2561
Facsimile :
212-944-2568
Legal
Form : Corporation
- Private
Website : N/A
Maj.
Shareholder : Mr.
Hitesh Munjani
@rating
Opinion :
Business
Activity :The Company
is a wholesaler of diamonds and jewelry.
Founded
(D/M/Y) : /
/1998
In
KUSD As of : 31/12/2005
Sales
/ Revenue : 2,500
Net
Income :
Total
Equity :
Number
of Employees : 3
NOTE TO CLIENT
Person
Contacted: Deep (no last name provided), an employee of the Company. He verified and updated general information
for this report. He deferred financial statement and bank account information
to the
President
and Owner, Mr. Hitesh Munjani, who was travelling at the time of this
report. A fax was sent to Mr. Munjani
to obtain this information.
LEGAL
Legal
Form :
Corporation - Private
Since (D/M/Y): 31/07/1998
State/Province
of Incorporation : NY
Status : ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
The
Company incorporated in New York under the following registration:
Current
Entity Name : PAYAL DIAMOND,
INC.
Initial
DOS Filing Date : JULY 31,
1998
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)
PAYAL
DIAMOND, INC.
10
WEST 46TH STREET, STE. 1701
NEW
YORK, NEW YORK, 10036
Registered
Agent: NONE
Managers/Key Personnel
Mr.
Hitesh Munjani
President & CEO
OWNERS
Mr.
Hitesh Munjani % Majority
The
Company has no subsidiaries or affiliates.
BANKS
Bank
of America
New
York NY
Telephone:
Facsimile:
Account
Number:
Account
Manager:
A
fax was sent to Mr. Munjani to obtain an account number for this bank for
credit information.
PAYMENT HISTORY
The
local trade payment record was too insignificant for this report.
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End
(D/M/Y): 31/12/2005 31/12/2005 31/12/2005
Consolidated
Sales
/ Revenues 2,500 - -
Mr.
Deep stated net sales for 2005 were approximately US$2.5 Million, however, he deferred all financial
information to Mr. Munjani. If we receive
a response to our fax, we will amend the report accordingly.
HISTORY
The
Company was founded in 1998 by Mr. Hitesh Munjani. Outside sources found that the Company's old name was Jay Diam
Inc.
CURRENT OPERATIONS
NAICS
Code : 42194 Jewelry, Watch, Precious Stone and
Precious Metal
SIC
Code : 5094
Number
of Employees: 3
Business Activity
The
Company is a wholesaler of diamonds and jewelry.
The
Company imports exclusively from India.
The
heading address is the sole location for the Company. The Facility consists of leased office space.
TRADE REFERENCES
The
Company stated that it does not have any significant creditors in the U.S. or
Canada.
PUBLIC RECORD
A
search of public revealed no derogatory information, Uniform Commercial Codes,
or bankruptcy petitions.
GENERAL COMMENTS
Payal
Diamond, Inc., founded in 1998 in New York, is engaged as a wholesaler of
diamonds and jewelry. No payment record
was found for the Subject, however, the operating history is clear. No derogatory information or bankruptcy
petitions were reported or noted. The
Company is responsible for normal business transactions.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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