MIRA
INFORM REPORT
|
Report Date : |
08.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SANGHAVI DIAMONDS INC. |
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Registered Office : |
1212 Avenue of the Americas, 11th floor, New York, NY 10036 |
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Country : |
United States |
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Date of Incorporation : |
17.05.1995 |
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|
Legal Form : |
Corporation – Profit |
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|
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Line of Business : |
Importer, Wholesaler and Retailer of Jewelry, Diamonds and Precious
Stones. |
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 |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
SANGHAVI DIAMONDS INC.
Company acronym:
--
Contact Information
|
Address |
1212 Avenue of the Americas, 11th floor New York, NY 10036 USA |
|
Telephone |
212-764-7841 |
|
Fax |
212-719-4186 |
|
Website |
www.sanghaviexports.com |
Registration Data
|
Date of Registration |
05-17-1995 |
|
Registration number |
New York State does not issue organizational ID number |
|
Legal address |
1212 Avenue of the Americas, 11th floor New York, NY 10036 USA |
|
Legal Form |
Corporation – Profit |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
Sanghavi Jewel Pvt. Ltd. |
N/A |
Board/Executive
|
Name |
Vasantlal R. SANGHAVI |
|
Position within the company |
President |
|
Name |
Nitin JOBANPUTRA |
|
Position within the company |
Manager |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Importer, wholesaler and retailer of jewelry, diamonds and precious
stones.
Staff
|
Number of staff
employed |
30 |
Export/Import
(Countries,
goods and total values for the period)
|
Imports From |
India |
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Exports To |
- |
Facilities
|
Rented |
Office |
|
Premises Size |
2,000 sq. feet |
Subsidiaries
and Participation
|
Parent Company |
Sanghavi Jewel Pvt. Ltd. |
Branches
|
Address |
550-South Hill Street, Suite-1141 |
Bankers
|
Bank |
Fleet Bank |
|
Address |
1133 Avenue of the Americas, New York, NY 10036 |
Suppliers,
Partners
|
Suppliers |
Not known |
|
Partners |
Not known |
Litigation, Remarks
on Payment
|
Litigation |
None Recorded |
|
Remarks on Payment |
No Complaints |
Financial
Information
|
Source |
Bank |
|
Figures are |
Estimate |
|
Currency |
USD |
|
Months |
Sales Figures |
Sales |
|
12 |
31/12/2007 |
3,500,000 |
Reporter Comments
|
Comments |
On a direct call, nobody accepted to answer our
questions. |
|
Local Reputation |
The company being investigated is believed by local reporters to be a Low Trade Risk and to be fair. According to our credit analysts, during the last 6 months, 93% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 2 to 5 days
beyond terms. |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.76 |
|
UK Pound |
1 |
Rs.74.87 |
|
Euro |
1 |
Rs.60.81 |
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 |
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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. |
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 |
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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%)