MIRA
INFORM REPORT
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Report Date : |
26.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PARAG DIAMONDS INC |
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Registered Office : |
36 West 44th
Street, Suite 8010, New York - 10036 |
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Country : |
United States |
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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): PARAMOUNT
GEMS
Address: 36
WEST 44TH STREET
SUITE 8010
City: NEW YORK
State/Province: NEW
YORK
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.
New York
Registration:
Current Entity
Name: PARAG DIAMONDS INC.
Initial DOS Filing
Date: NOVEMBER 24, 1981
County: NEW YORK
Jurisdiction: NEW YORK
Entity Type: DOMESTIC
BUSINESS CORPORATION
Current Entity
Status: ACTIVE
Selected Entity
Address Information DOS Process
GHANDI & SHAH
110-35 63RD AVE.
FOREST HILLS, NEW
YORK, 11375
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, New York branch.
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
162 WASHINGTON AVE
ALBANY, NY 12210
DEBTOR INFORMATION
Debtor(s): PARAG DIAMONDS INC, D/B/A PARAMOUNT
GEMS
576 5TH AVENUE, STE
601
NEW YORK, NY 10036
SECURED PARTY OR CREDITOR INFORMATION
Secured Party(s):
STATE BANK OF INDIA, NEW YORK BRANCH
460 PARK AVENUE
NEW YORK, NY 10022
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%)