MIRA INFORM REPORT

 

 

Report Date :

21.02.2008

 

IDENTIFICATION DETAILS

 

Name :

SANGAM DIAMONDS INC

 

 

Registered Office :

6 E 45th St # 901 New York, NY 10017-2401

 

 

Country :

United States

 

 

Date of Incorporation :

12.22.1982

 

 

Com. Reg. No.:

707643032

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Jewelry Stores

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

Company Information

 

 

SANGAM DIAMONDS INC
6 E 45TH ST # 901
NEW YORK, NY 10017-2401
(212) 599-4240

Business Identification Number:

707643032

File Established:

11/1982

Date of Incorporation:

12/22/1982

SIC code: 

JEWELRY STORES - 5944

 

Matching Name and Address

 

 

This business is linked to the one displayed above. The report shows the best view of the business.

SARAL DIAMOND INC
576 5TH AVE # 4
NEW YORK, NY 10036-4807

 

Executive Summary

 

 

  Intelliscore for SANGAM DIAMONDS INC

 

 

74.91

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


LOW TO MEDIUM RISK
79% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF ACTIVE ACCOUNTS

NUMBER OF DEROGATORY PUBLIC RECORD ACCOUNTS

NUMBER OF CURRENT ACCOUNTS

LENGTH OF CREDIT HISTORY GREATER THAN AVERAGE



  Current DBT range compared to all industries*

0 DBT
($600 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 8 DBT        Same industry: 10 DBT

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings: details (FILED 04/07)

1

Judgment filings:

Satisfied

Total collections:

0

Sum of legal filings:

$1,088

UCC filings: details (FILED 05/03-04/06)

3

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

0

Highest DBT previous 6 months:

0

Highest DBT previous 5 quarters:

2

Total continuous trades:

5

Current continuous trade balance:

$600

Trade balance of all trades (5):

$600

Average balance previous 5 quarters:

$1,060

Highest credit amount extended: details

$2,400

6 month balance range:

$300 - $1,700

* Days Beyond Terms (DBT) is a dollar weighted calculation of the average number of days that payment was made beyond the invoice due date based on trades on file that have been updated in the previous 3 months.

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

  7 month DBT trends

 

90+

60

30

 


0

 


0

 


0

 


0

 


0

 


0

 


0

 

0

Aug07

Sep07

Oct07

Nov07

Dec07

Jan08

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


1

 


0

 


2

 


0

 


0

 

0

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 


Performance Analysis

 

Predicted DBT for 04/16/2008: 1 DBT

Payment Trend Indication:
Are Stable

Industry payment comparison:
Has paid sooner than 50% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, CREDIT, and CONTRCT

 

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Legal Filings and Collections

 

 

  Tax Liens

File
Date

Filing
Type

Status

Amount

Filing
Number

Jurisdiction

04/24/2007

State Tax Lien

Filed

$1,088

 

2261989

NEW YORK COUNTY REG

07/13/2005

State Tax Lien

Released

$25

 

1141290

NEW YORK COUNTY REG

 

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  Judgments

File
Date

Filing
Type

Status

Amount

Plaintiff

Filing
Number

Jurisdiction

10/12/2001

Judgment

Satisfied

$58

 

NYC DEPARTMENT OF FINANCE

000449898

NEW YORK COUNTY REG

 

 

 

Trade Payment Information

 

 

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

 

Business
Category

Date
Reported

Last
Sale

 

Payment
Terms

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

+AIR TRANS

11/2007

 

 

 

$2,400

$600

100%

 

 

 

 

CUST 22 YR

 AIR TRANS

01/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 2 YR

 BUS SERVCS

02/2008

 

NET 30

 

$100

$0

 

 

 

 

 

 

 FINCL SVCS

02/2008

01/2008

NET 30

 

$1,100

$0

 

 

 

 

 

 

 OFFC SUPPL

02/2008

07/2000

CREDIT

 

 

$0

 

 

 

 

 

ACCTCLOSED

 

Trade Payment Totals

 

 

Trade Payment Experiences

Account Status
Days Beyond Terms

 

Type

Lines
Reported

 

 

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

Continuously Reported

5

 

 

$3,600

$600

100%

 

 

 

 

DBT: 0

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

5

 

 

$3,600

$600

100%

 

 

 

 

DBT: 0

 

Monthly Payment Trends

 

 

Payment Trends Analysis
JEWELRY STORES INDUSTRY SIC: 5944

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

N/A

0

$600

 

100%

 

 

 

 

JAN08

79%

10

0

$800

 

100%

 

 

 

 

DEC07

81%

8

0

$800

 

100%

 

 

 

 

NOV07

81%

8

0

$700

 

100%

 

 

 

 

OCT07

84%

6

0

$1,600

 

100%

 

 

 

 

SEP07

84%

7

0

$1,600

 

100%

 

 

 

 

AUG07

83%

7

0

$300

 

100%

 

 

 

 

 

 

Quarterly Payment Trends

 

Payment History - Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q4 - 07

OCT-DEC

0

$1,000

 

100%

 

 

 

 

Q3 - 07

JUL-SEP

0

$1,100

 

100%

 

 

 

 

Q2 - 07

APR-JUN

2

$1,100

 

88%

12%

 

 

 

Q1 - 07

JAN-MAR

0

$900

 

100%

 

 

 

 

Q4 - 06

OCT-DEC

1

$1,200

 

96%

4%

 

 

 

 

UCC Profile

 

The UCC Filings are summarized and listed below.

UCC Summary

Filings

Date Range

Year

Cautionary
UCCs**

Total
Filed

Released/
Term'd

Cont

Amended/
Assigned

JAN - PRESENT

 

2008

 

 

 

 

 

JUL - DEC

 

2007

 

 

 

 

 

JAN - JUN

 

2007

 

 

 

 

 

JUL - DEC

 

2006

 

 

 

 

 

JAN - JUN

 

2006

 

1

 

 

 

PRIOR TO JAN

 

2006

1

2

 

 

 

Total

 

1

3

 

 

 

 

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

 

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  UCC Filings

 

UCC FILED Date: 04/27/2006

Filing Number: 200604275408211

Jurisdiction: SEC OF STATE NEW YOR

Secured Party: M. FABRIKANT & SONS INC. NY NEW YORK 10020 1 ROCKEFELLER PLA

Collateral: UNDEFINED


UCC FILED Date: 11/05/2004

Filing Number: 200411051117025

Jurisdiction: SEC OF STATE NEW YOR

Secured Party: IDB LEASING, INC. NY NEW YORK 10017 511 FIFTH AVENUE

Collateral: UNDEFINED


UCC FILED Date: 05/23/2003

Filing Number: 200305231047423

Jurisdiction: SEC OF STATE NEW YOR

Secured Party: HSBC BANK USA NY BUFFALO 14203 ONE HSBC CENTER - BLC - 18TH

Collateral: HEREAFTER AQUIRED PROP, UNDEFINED

 

 

Commercial Finance Relationships

 

 

  Insurance Bond Relationships

 

Bonding Company: UTICA NATIONAL INSURANCE CO

Address: 180 GENESEE STREET NEW HARTFORD NY13413

Phone: (315) 734-2000

Bond Type: Property/Casualty


Bonding Company: UTICA NATIONAL INSURANCE CO

Address: 180 GENESEE STREET NEW HARTFORD NY13413

Phone: (315) 734-2000

Bond Type: Property/Casualty

 

Company Background Information

 

 

  Additional Company Background Information

 

Key Personnel

Principal(s): 

K DOSHI, PRESIDENT

 

DINESH JAVERI, PRESIDENT

 

RAJEEV SHAH, REGIONAL V


Operating Information

Business Type: Institutions


Primary SIC Code: JEWELRY STORES - 5944

Secondary SIC Code: JEWELRY & PRECIOUS STONES WHLSNG - 5094

Additional SIC Code: 8741


Number of Employees: 14

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions