MIRA
INFORM REPORT
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Report Date : |
27.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SANGHAVI DIAMONDS INC. |
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Registered Office : |
1212 Avenue Of The |
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Country : |
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Date of Incorporation : |
1984 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Exporting polished diamonds and diamond studded jewelry as well as manufacturing 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: SANGHAVI
DIAMONDS INC.
Address: 1212
AVENUE OF THE
11TH FLOOR
City:
State/Province:
Zip Code: 10036
Country: UNITED
STATES
Telephone: 212-764-7841
Facsimile: 212-719-4186
Founded
(D/M/Y): / /1984
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
18
Legal Form: Corporation
- Private
Website: www.sanghaviexports.com
Business Activity: The Subject's core business is
exporting polished diamonds and diamond studded
jewelry as
well as manufacturing diamonds and jewelry.
NOTE TO CLIENT
We contacted the
company and spoke to Angela, Customer Service Representative (no last name
provided) who declined to provide any information about the company. She asked
that we send a fax request for information about the Company. Please note that we did send a written
request to her attention via facsimile. An update will be provided accordingly
should we receive a response at a later time.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 17/05/1995
State/Province of
Incorporation: NY
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Subject is
incorporated in the state of
Current Entity Name:
SANGHAVI DIAMONDS INC.
Initial DOS Filing
Date: MAY 17, 1995
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)
SANGHAVI DIAMONDS
INC.
1212 AVE OF THE
11TH FL
Registered Agent
NONE
Managers/Key
Personnel
Mr. Vasant
Sanghavi President
Mr. Amit
Sanghavi Chief Executive Officer
Mr. Ramesh
Sanghavi Director
Mr. Jayesh
Sanghavi Director
AFFILIATED ENTITIES
The following
companies are all affiliated with the Subject:
Sanghavi Jewel Pvt.
Ltd.
Plot No.- 01,
SEEPZ++, SEEPZ,
Andheri (East),
Mumbai - 400 096,
Phone: +91-22-5648
7000
Fax: +91-22-2829
1956
E-mail: marketing@sanghaviseepz.com
Sanghavi Diamond
Mfg. Pvt. Ltd.
Phone: +91-261-251
3891/97
Fax: +91-261-251
3898
E-mail:
sales-surat@sanghaviexports.com
Dynamic Design Group
INC.
1212 Avenue of the
11th Floor,
Phone: +1-212-840
9400
Fax: +1-212-840 7737
E-mail:
contact@ddg-ny.com
Sanghavi Exports
601-2 Trans HK Comms
Building,
T.S.T. Kowloon,
Phone: +852-2721
8608
Fax: +852-2723 9704
E-mail:
hongkong@sanghaviexports.com
Sanghavi Jewellery
Tokyo Co. Ltd.
2F
Phone: +81-03-3839
6005 / 6188
Fax: +81-03-3839
2237
E-mail:
marketing@sanghavijewellery.com
Sanghavi Far
Phone: +65-6348 3413
Fax: +65-6345 7864
E-mail:
uday1970@hotmail.com
Parent Companies
Parent Company: Sanghavi Exports
502-Prasad Chambers,
Opera House
Mumbai 400 004
Telephone: +91-22-2364 3992
As far as could be
determined, there are no known subsidiaries.
BANKS
NY
Telephone:
Facsimile:
Account Number:
Account Manager:
We could not obtain any
banking information.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
ADVERTISNG 07-06 00-00 NET 30 0
0 0 0
0 0 0
CUST 4 YR
AIR TRANS
06-11 00-00 NET 30 0 0
0 0 0
0 0 CUST
1 YR
GENERAL
05-02 01-09 NET 60 0 0
0 0 0
0 0 CUST 12 YR
LEASING
07-06 00-00 CONTRCT 600
0 0 0
0 0 0
OFFC SUPPL 07-01 02-07 CREDIT 2000
0 0 0
0 0 0
CURRENT QUARTER 0 0
0 0 0
0 0
FINANCIAL INFORMATION
The Company was
forwarded a fax requesting financial information. Currently we have not
received a response.
According to an
outside source, the Subject has annual sales in the $3.5 million USD range.
HISTORY
The Subject was
founded by the four Sanghavi brothers, Vasant, Kirti, Ramesh and Chandrakant in
the late 1970's.
CURRENT OPERATIONS
NAICS Code: 42194
Jewelry, Watch, Precious Stone and Precious Metal
SIC Code: 5094
Number of Employees
: 18
Business Activity:
The Subject's core business
is exporting polished diamonds and diamond studded jewelry as well as
manufacturing diamonds and jewelry. The
Subject manufactures, imports, exports, and distributes diamonds. Sales are at
the wholesale level and are primarily focused in
The Subject
specializes in the following types of jewelry: rings, pendants, earrings,
bracelets, and necklaces.
As far can be
determined the heading address is the sole location for the Company's
The Subject has one
branch location in the
Los Angeles,
CA-90013.
Phone: +1-213-623
1817
Fax: +1-213-623 2819
E-mail:
sanghavila@gmail.com
PUBLIC RECORD
A search of
bankruptcy courts revealed no record of the Subject filing for bankruptcy.
The following civil
judgments have been found against the Company:
Name Searched:
SANGHAVI DIAMONDS INC.
Case Name: SANGHAVI
DIAMONDS, INC.,
v.
TAGGER DIAMONDS INC.
Defendant Counsel:
GERSTEN SAVAGE KAPLOWITZ/ET AL
212 752-9700
Plaintiff Counsel:
POPPER & GRAFTON
225
212-290-2630
Status: ACTIVE
-----------------------------------------------------------------
Name Searched:
SANGHAVI DIAMONDS INC.
Defendant Counsel:
UNKNOWN
Defendant: NATIONAL
WESTMINSTER BANK NA
SANGHAVI DIAMONDS
INC
Plaintiff Counsel:
DUNN & ZUCKERMAN
1140 AVENUE OF
212 921-2929
Plaintiff: STATE
BANK OF
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The following tax
lien has been found against the Company:
Name Searched:
SANGHAVI DIAMONDS INC.
Amount: $ 273,716.10
Attorney For
Creditor: ARTHUR I WINARD,PC
NY NY 10165
Creditor: SANGHAVI
DIAMONDS,INC.
1212 AVE OF
NY NY 10036
Debtors: VINI
JEWELS,INC.
579 5 AVE
NY NY 10017
Docket Date:
01/30/1998
Docket Type:
JUDGMENTS
Lien Type: JUDGMENTS
DOCKET
Transaction Number:
31001067897
At this time, we
could not determine the current status of the cases.
------------------------------------------------------------------------
The following UCC
filings have been made by the Subject:
Name Searched:
SANGHAVI DIAMONDS INC.
Debtors: SANGHAVI
DIAMONDS INC.
1212 AVENUE OF THE
Filing Date:
01/22/2001
Filing Number:
01PN02860
Filing Type: INITIAL
FILING
Original Filing
Number: 01PN02860
Secured Party:
ANTWERPSE DIAMANTBANK N.V.
B-2018 10036
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Name Searched: SANGHAVI
DIAMONDS INC.
Debtor Address:
SANGHAVI DIAMONDS INC.
1212 AVENUE OF THE
Secured Parties:
ANTWERPSE DIAMANTBANK, N.V.
Filing Date:
1/16/2001
Filing Number:
01009870
Filing Type: INITIAL
FILING
------------------------------------------------------------------
Name Searched:
SANGHAVI DIAMONDS INC.
Debtor Address:
SANGHAVI DIAMONDS INC.
1212 AVENUE OF THE
Secured Parties:
ANTWERPSE DIAMANTBANK N.V.
Filing Date:
9/23/2005
Filing Number:
0509238341907
Filing Type:
CONTINUATION
Original Filing
Number: 01009870
GENERAL COMMENTS
The Subject is an
exporter, manufacturer, and wholesaler of polished diamonds and diamond studded
jewelry since 1995. Due to the nature of its business, the Subject does not
have a significant payment record. A search of public found civil judgments and
a considerable tax lien against the Company, however, the current status of
those cases could not be determined at this time. There was no record of the
Subject filing for bankruptcy.
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%)