MIRA
INFORM REPORT
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Report Date : |
06.07.2007 |
IDENTIFICATION DETAILS
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Name : |
PRACHI GEM INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
14/01/1998 |
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Legal Form : |
Corporation -
Private |
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Line of Business : |
Believed to be
engaged in the sale of 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: PRACHI
GEM INC.
Address:
City:
State/Province:
Zip Code: 10036
Country: UNITED
STATES
Telephone: 212
398-4588
Facsimile: N/A
As of:
Sales / Revenue:
Net Income:
Total Equity:
Legal Form: Corporation
- Private
Website: N/A
Business Activity: The Subject is believed to be engaged
in the sale of jewelry.
NOTE TO CLIENT
Attempts to reach
the senior management were denied. The contacted person was Nicky and he would
only confirm the name of the Subject. All information in this report is from
various sources which are deemed reliable but could not be confirmed.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 14/01/1998
State/Province of
Incorporation: NY
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company's
Corporate Registration:
Current Entity
Name: PRACHI GEM INC.
Initial DOS Filing
Date: JANUARY
14, 1998
County:
Jurisdiction:
Entity Type: DOMESTIC BUSINESS CORPORATION
Current Entity
Status: ACTIVE
Mailing
Address: PRACHI GEM INC.
#1408
Principal Executive
Office:
PRACHI GEM INC.
#1408
Managers/Key
Personnel
SWETAL VARAIYA President
AFFILIATED ENTITIES
Affiliate companies
or businesses, if any, could not be learned at this time.
BANKS
NY
Telephone:
Facsimile:
Account Number:
Account Manager:
A banking facility for
the Firm was not provided, however, HSBC BANK was noted as a secured party.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
BANK
07-05 06-08 CONTRCT 100000
80400 100 0 0
0 0 CUST
6 YR
AIR TRANS
06-10 06-08 0000000 200
200 18 33
49 0 0
CUST 8 YR
AIR TRANS
06-11 00-00 NET 30 0 0
0 0 0
0 0 CUST
2 YR
BANK
06-08 06-08 CONTRCT 7300
0 0 0
0 0 0
BLDG MATRL 07-01 00-00 CREDIT 1000
0 0 0
0 0 0
GENERAL
05-02 04-07 NET 30 100 0
0 0 0 0
0 CUST 1 YR
LEASING
06-02 00-00 CONTRCT 1300
0 0 0
0 0 0
CUST 1 YR
CURRENT QUARTER 100000 80400
100 0 0 0 0
FINANCIAL INFORMATION
No financial information
was provided and all outside sources failed to add insight to the current
condition of the firm.
CURRENT OPERATIONS
NAICS Code: 44831
Jewelry Stores
SIC Code: 5944
Business Activity:
The Subject is believed
to be engaged in the sale of jewelry.
The Subject is
located at the above address.
PUBLIC RECORD
Name Searched:
PRACHI GEM INC
Debtor Address:
PRACHI GEM INC.
Secured Parties:
HSBC BANK
Filing Date:
1/31/2005
Filing Number:
0501315084048
Filing Type: INITIAL
FILING
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No judgements, tax
liens or bankruptcy petitions were traced to the Firm.
No legal actions or
bankruptcy petitions were reported under the Subject's name.
GENERAL COMMENTS
Prachi Gem Inc. was
incorporated 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%)