MIRA
INFORM REPORT
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Report Date : |
08.08.2007 |
IDENTIFICATION DETAILS
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Name : |
PAYAL DIAMOND INC |
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Registered Office : |
10, West, 46th Street, |
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Country : |
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Financials (as on) : |
31.12.2005 |
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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 jewelry |
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 : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name : PAYAL DIAMOND, INC.
Address :
City :
Zip Code : 10036
Country : UNITED STATES
Telephone : 212 944-2561
Facsimile : 212-944-2568
Founded (D/M/Y) : - /- /1998
State/Province :
In KUSD as of : 31/12/2005
Sales / Revenue : 2,500
Net Income : -
Total Equity : -
Number of Employees : 3
Legal Form : Corporation - Private
Website : N/A
Maj. Shareholder : Mr. Hitesh Munjani
Business Activity:
The Company is a wholesaler of diamonds and jewelry
NOTE TO CLIENT
Person Contacted: Deep Dandiwala, an employee of the Company. He verified and updated some information for
this report.
He deferred financial statement and bank account information to the
President and Owner, Mr. Hitesh Munjani, who was traveling 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
Current Entity Name :
PAYAL DIAMOND, INC.
Initial DOS Filing Date :
JULY 31, 1998
County :
Jurisdiction :
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.
Registered Agent: NONE
Managers/Key
Personnel
Mr. Hitesh Munjani President & CEO
OWNERS
Mr. Hitesh Munjani % Majority
subsidiaries
The Company has no subsidiaries
or affiliates.
BANKS
Bank of
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
No payment record was found for the Subject at this time.
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/12/2005 31/12/2005 31/12/2005
Consolidated
Sales / Revenues 2,500 -
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Mr. Dandiwala stated net sales for 2005 were approximately US$2.5
Million, however, he did not know 2006 net sales, deferring all financial
information to Mr. Munjani. If we
receive a response to our fax request, 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
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
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
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%)