MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
PARAS DIAMOND CORP. |
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Registered Office : |
592 |
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Country : |
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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 : |
Wholesaler 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 : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: PARAS DIAMOND CORP.
Address:
City:
State/Province:
Zip Code: 10036
Country: UNITED STATES
Telephone: 212 869-1366
Facsimile: 212 764-7593
Number of Employees: 5
As of:
Sales / Revenue:
Net Income:
Total Equity:
Legal Form: Corporation - Private
Website: www.amikam-paras.com
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
Current Entity Name: PARAS DIAMOND CORP.
Initial DOS Filing Date: MAY 07, 1975
County:
Jurisdiction:
Entity Type: DOMESTIC BUSINESS CORPORATION
Current Entity Status: ACTIVE
Selected Entity Address Information DOS Process
% STUART HAMMERMAN
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
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
07-03 00-00 0000000 10600
3600 100 0 0
0 0 CUST 25 YR
FINCL SVCS 07-06 07-05 NET 30 1100
100 100 0 0
0 0
AIR TRANS
06-11 00-00 NET 30 100 0
0 0 0
0 0 CUST 10 YR
CELLUL/PAG 06-03 00-00 NET 30 100
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 3100 2200
100 0 0 0 0
OFFC SUPPL 07-01 99-12 CREDIT 0
0 0 0
0 0 0
ACCTCLOSED
CURRENT QUARTER 11700 3700
100 0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
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--- --- --- -------- --- --- --- --- ---
20070600
0 6 0 3900 100 0
0 0 0
20070500
0 6 0 3900 100 0
0 0 0
20070400
0 7 0 3900 100 0
0 0 0
20070300
0 8 0 6800 99
0 1 0 0
20070200
0 7 0 7400 99
0 1 0 0
20070100
0 6 0 6800 99
0 1 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2007 0 6000 99
0 1 0 0
Fourth
2006 0 7100 99
1 0 0 0
Third
2006 2 6900 89
10 1 0 0
Second
2006 0 3900 100 0
0 0 0
First
2006 0 3100 100 0
0 0 0
FINANCIAL INFORMATION
Mr. Gopalan declined to provide financial statements, however stated
that the Firm has sales in the US$1-5 million range.
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
The above address is the headquarters of the company. There is another
location on Avenue of the
PUBLIC RECORD
Name Searched: PARAS DIAMOND CORP
Debtor Address: PARAS DIAMOND CORP.
592 5TH AVE FL 3
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
LOS
Secured Parties: HSBC BANK
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.
LOS
Secured Parties: HSBC BANK
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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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%)