MIRA
INFORM REPORT
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Report Date : |
09.08.2007 |
IDENTIFICATION DETAILS
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Name : |
PARAG DIAMONDS INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24/11/1981 |
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Legal Form : |
Corporation -
Private |
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Line of Business : |
Retailer and
wholesaler of jewelry. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: PARAG
DIAMONDS INC
Trade Name(s):
Address:
City:
State/Province:
Zip Code: 10036
Country: UNITED
STATES
Telephone: 212
221-1520
Facsimile: 212
302-6478
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
8
Legal Form: Corporation
- Private
Website: www.paramountgems.com
Business Activity: The Firm is a retailer and wholesaler
of jewelry.
NOTE TO CLIENT
Person Contacted:
Mr. Gilbert Gomez, Account Manager.
Mr. Gomez declined
to provide any information, therefore the details in this report could not be
confirmed.
NOTE: The provided
name, PARAMOUNT GEMS is the trade style for the Firm called PARAG DIAMONDS INC.
which is located at the provided address.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 24/11/1981
State/Province of
Incorporation: NY
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
Current Entity
Name: PARAG DIAMONDS INC.
Initial DOS Filing
Date: NOVEMBER 24, 1981
County:
Jurisdiction:
Entity Type: DOMESTIC
BUSINESS CORPORATION
Current Entity
Status: ACTIVE
Selected Entity
Address Information DOS Process
GHANDI & SHAH
Registered Agent: NONE
Managers/Key
Personnel
Ms. Panna Lal
Jain President
Mr. Mr. Gilbert
Gomez Office Manager
AFFILIATED ENTITIES
There are no known
affiliates or subsidiaries at this time.
BANKS
Telephone:
Facsimile:
Account Number:
Account Manager:
Management declined
to provide the name of the Firm's primary bank, however public indicate it may
be the State Bank Of India,
PAYMENT HISTORY
The Firm is not a
large seeker of local trade credit and as such a payment record could not be
developed.
FINANCIAL INFORMATION
Management flatly
declined financial data and outside sources provided no insight into the
financial condition of the Company.
CURRENT OPERATIONS
NAICS Code: 42194
Jewelry, Watch, Precious Stone and Precious Metal
SIC Code: 5094
Number of Employees:
8
Business Activity:
The Firm is a
retailer and wholesaler of jewelry.
The Firm offers
diamonds and other precious stones. The Firm also offers jewelry including:
watches, rings, necklaces, earrings, pendants and bracelets.
The provided address
is believed to be the Firm's sole location.
TRADE REFERENCES
No trade references
could be obtained from the subject.
PUBLIC RECORD
Filing Number: 510111088025
Filing Date: 10/11/2005
Expiration Date: 10/11/2005
Filing Type: ORIGINAL
Filing Office: SECRETARY
OF STATE/UCC DIVISION
DEBTOR INFORMATION
Debtor(s): PARAG DIAMONDS INC, D/B/A PARAMOUNT
GEMS
SECURED PARTY OR CREDITOR INFORMATION
Secured Party(s):
STATE BANK OF
COLLATERAL INFORMATION
Collateral
Type: ASSETS AND PROCEEDS
Collateral
Type: EQUIPMENT AND PROCEEDS
Collateral
Type: MACHINERY AND PROCEEDS
Collateral
Type: VEHICLES AND PROCEEDS
Collateral
Type: FIXTURES AND PROCEEDS
Collateral
Type: INVENTORY AND PROCEEDS
Collateral
Type: CHATTEL PAPER AND PROCEEDS
Collateral Type: ACCOUNTS RECEIVABLE AND PROCEEDS
Collateral
Type: CONTRACT RIGHTS AND PROCEEDS
Collateral
Type: GENERAL INTANGIBLE(S) AND PROCEEDS
Collateral
Type: NEGOTIABLE INSTRUMENTS AND
PROCEEDS
No liens or legal
issues were found.
No bankruptcies were
found in the Company's name.
GENERAL COMMENTS
The Firm
incorporated in 1981, engaged as a retailer and wholesaler of jewelry. No
payment history or derogatory information were found in the Company's name.
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%)