MIRA INFORM
REPORT
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Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ELEGANT JEWELS FZE |
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Registered Office : |
Plot No. L2-27,
Saif Zone, |
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Country : |
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Date of Incorporation : |
24.04.2010 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Distributors of jewellery, diamonds and other precious
stones |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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Payment
Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : ELEGANT JEWELS FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 24th April 2010
Trade Licence Number : 08080
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 1
Activities : Distributors of jewellery, diamonds and other precious stones.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY
NAME
ELEGANT JEWELS FZE
company
ADDRESS
Registered & Physical
Address
Location : Plot No. L2-27, Saif Zone
PO Box : 122847
Town : Sharjah
Country : United Arab Emirates
Email : goelove@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Saif Zone Area
of Sharjah.
KEY
PRINCIPALS
Name Nationality Position
·
Sanjev
Goel Indian Managing
Director
LEGAL
FORM & OWNERS
Date of Establishment : 24th
April 2010
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 08080
(Expires 24/04/2012)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
·
Sanjev
Goel 100%
OPERATIONS
Activities: Engaged in the import and distribution of
jewellery, diamonds and other precious stones.
Import
Countries: Europe and the
Subject has a
workforce of 1 employee.
FINANCIAL
DATA
Subject is a newly formed
business and as a result financial information is not currently available.
BANKERS
·
HSBC
Bank
PO Box: 25
Sharjah
Tel: (971-6) 5537222
Fax: (971-6) 5537880
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.22 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
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 |
Capability to overcome financial difficulties seems comparatively below
average. |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.