MIRA
INFORM REPORT
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Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
PARAS
DIAMOND CORP. |
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Registered Office : |
592 Fifth Avenue, 3rd Floor,
New York 10036 |
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Country : |
United
States |
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Date of Incorporation : |
07.05.1975 |
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Legal Form : |
Corporation
– Private |
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Line of Business : |
Wholesalers
of diamonds and other precious stones. |
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 : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE SUMMARY
Company Name : PARAS DIAMOND CORP.
Address : 592 FIFTH AVENUE, 3RD FLOOR
City : NEW YORK
State/Province : NEW YORK
Zip Code : 10036
Country : UNITED STATES
Telephone : 212 869-1366
Facsimile : 212 764-7593
Legal Form : Corporation - Private
Website : www.amikam-paras.com
As of :
Sales / Revenue :
Net Income :
Total Equity :
Number of Employees : 5
Business Activity : The Firm is a
wholesaler of diamonds and other precious stones.
NOTE TO CLIENT
Person Contacted: Mr. Ravi
Gopalan, Controller.
LEGAL
Legal Form : Corporation - Private
Since (D/M/Y) : 07/05/1975
State/Province of Incorporation : NY
Status : ACTIVE
Previous Legal Form:
Company is NOT required to
publish an annual financial report.
The Firm is incorporated in New
York under the following:
Current Entity Name : PARAS DIAMOND CORP.
Initial DOS Filing Date :
MAY 07, 1975
County : NEW YORK
Jurisdiction : NEW YORK
Entity Type : DOMESTIC BUSINESS
CORPORATION
Current Entity Status : ACTIVE
Selected Entity Address
Information DOS Process
% STUART HAMMERMAN
110 E. 59TH ST, NEW YORK, NEW
YORK, 10022
Registered Agent: NONE
Managers/Key Personnel
Mr. Samir Mehta President
Mr. Ravi Gopalan Controller
AFFILIATED ENTITIES
There are no known subsidiaries
or affiliated companies as far as can be determined.
BANKS
NY
Telephone:
Facsimile:
Account Number:
Account Manager:
The name of a primary bank could
not be obtained from management. Outside sources reveal that the company has
conducted previous business with HSBC Bank, but that information could not be
confirmed.
PAYMENT HISTORY
BUSINESS DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS 06-08 06-08 0000000 8700
8700 98 0 2 0
0 CUST 24 YR
FINCL SVCS 06-09 06-08 NET 30 1100
800 100 0 0
0 0
OFFC SUPPL 06-09 99-12 CREDIT 0
0 0 0
0 0 0 ACCTCLOSED
AIR TRANS 05-12 00-00 NET 30
100 100 39
61 0 0 0 CUST 10 YR
AUTO LEASE 04-05 00-00 VARIED 38900
0 0 0
0 0 0 CUST 4 YR
CELLUL/PAG 06-03 00-00 NET 30 800
0 0 0 0
0 0
GENERAL 05-01 98-02 NET 30
0 0 0
0 0 0 0 CUST 15 YR
LEASING 05-01 05-01 NOTE
4100 2200 100 0
0 0 0
PACKAGING 03-11 00-00 NET 30 0 0 0 0 0
0 0 CUST 4 YR
TELECOM 04-04 00-00 NET 30
0 0 0
0 0 0 0 CUST 16 YR
CURRENT QUARTER 9800 9500 98 0 2 0
0
Payment Trends
INDUSTRY BUSINESS BALANCE CUR 1- 31- 61-
DATE CUR DBT DBT
$ %
30 60 90 91+
-------- --- --- --- -------- --- --- --- --- ---
20060900 0 6 1 8700 98 0
2 0 0
20060800 0 7 5 5600 64 36
0 0 0
20060700 0 7 0 4500 100
0 0
0 0
20060600 0 6 0 3600 100 0 0
0 0
20060500 0 6 0 3600 100 0 0
0 0
20060400 0 6 0 5100 100 0 0
0 0
Payment History - Quarterly Averages
BALANCE CUR 1-
31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2006 0 3900 100 0 0 0 0
First
2006 0 3100 100 0 0 0
0
Fourth
2005 0 0 0 0 0
0 0
Third 2005 0 200 100 0 0 0 0
Second
2005 0 0 0 0
0 0 0
FINANCIAL INFORMATION
Mr. Gopalan declined to provide
financial statements or annual sales, therefore the Firm's condition could not
be evaluated. A written inquiry was sent via fax, if he responds the report
will be updated at that time.
CURRENT OPERATIONS
NAICS Code : 42194 Jewelry,
Watch, Precious Stone and Precious Metal
SIC Code : 5094
Number of Employees :5
Business Activity
The
Firm is a wholesaler of diamonds and other precious stones.
The
Company's products are distributed throughout the United States and abroad.
The
Firm's inventory includes: loose diamonds, diamond lots and a wide variety of
diamond, and other precious stones, studded jewelry.
The
above address is the headquarters of the company. There is another location on
Avenue of the Americas, also in New York.
PUBLIC RECORD
Name Searched : PARAS DIAMOND CORP
Debtor Address : PARAS DIAMOND CORP.
592 5TH AVE FL 3 NEW YORK, NY 10036-4722
Secured Parties : FANCY TRADING CO, LLC
Filing Date : 10/3/2003
Filing Number : 0310031675891
Filing Type : INITIAL FILING
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Name Searched : PARAS DIAMOND CORP
Debtor Address : PARAS DIAMOND CORP
500 SOUTH HILL STREET LOS ANGELES, CA 90013
Secured Parties : HSBC BANK USA
Filing Date : 6/17/2002
Filing Number : 02140624
Filing Type : INITIAL FILING
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Name Searched : PARAS DIAMOND CORP
Debtor Address : PARAS DIAMOND CORP.
550 SOUTH HILL STREET LOS ANGELES, CA 90013
Secured Parties : HSBC BANK USA
Filing Date : 7/7/2003
Filing Number : 0307071291355
Filing Type : INITIAL FILING
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No judgements, tax liens or
bankruptcy petitions were traced to the Firm.
GENERAL COMMENTS
Paras Diamond Corp., incorporated
in 1975, are engaged as wholesalers of diamonds and other precious stones. The
payment record is satisfactory. We found nothing seriously derogatory on the
subject. The firm is considered responsible for normal business transactions.
Should management provide any further details, the report will be amended.
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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