MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
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 |
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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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)