MIRA INFORM REPORT

Report Date :

30.04.2011

IDENTIFICATION DETAILS

Name :	PLANET SAFFRON INC (SAFFRON ART)

Registered Office :	595, Madison Ave, Suit 900, New York NY 10022

Country :	United States

Date of Incorporation :	14.10.2004

Legal Form :	Corporation for Profit

Line of Business :	Art Galleries

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 5,000

Status :	Small Company

Payment Behaviour :	Regular

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)

United States

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	Planet Saffron Inc
Address in the order:	595, Madison Ave, Suit 900, New York NY 10022.
Legal Name:	Planet Saffron Inc (Saffron Art)
Trade Name:	Saffron Art
Legal Address	595, Madison Ave, Suit 900, New York NY 10022.
Operative Address	595, Madison Ave, Suit 900, New York NY 10022.
Telephone:	+1 (212) 627-5006.	ID :	3113810
Fax:	+1 (212) 627 5008	Legal Form:	Corporation for Profit
Email:	info@saffronart.com	Registered in:	New York
Website:	www.saffronart.com	Date Created:	2000
Manager:	Anu Nanavati, Owner	Date Incorporated:	October 14th, 2004
Staff:	2	Stock:	N/A
		Value:	N/A
Activity:	Art Galleries.

BANKS

Name of the Bank

State Bank Of India

BUSINESS

HISTORY
	The company was created in the year 2000.
PRINCIPAL ACTIVITY
	The company provides access to a substantial range of art, that includes: Art advisory, private sales, appraisals and valuations, and specialized art storage.
Products/Services description:
	Art Jewelry Prime properties
Sales are:
	Retail
Clients:
	General clientele
Operations area:
	National
The company imports from Asia
The company does not export
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at 595, Madison Ave, Suit 900, New York NY 10022.
Branches:
	There were no branches found for this company.

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	The company is privately held and has Anu Nanavati as the main shareholder.
Management:
	Anu Nanavati, Owner Anu Chaddha, Director

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted Renee who refused to provide us any financial data on grounds of confidentiality.

However our financial sources could provide us with the following data.

Those figures are estimates provided by confidential banking and financial institutions working with the company.

Currency	DATE
2010	2010
Turnover	420,000

Legal Fillings

There are no UCC** files listed with the Secretary of State of New York.

There are no legal filings listed with the District Court.

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

The Uniform Commercial Code Bureau files and maintains on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

Rating

Local credit bureau gave a Correct credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

Final Opinion

This company has been in business for 11 years. It has a staff of 2 employees which makes it a medium sized company.

There were no legal filings found against the company or its legal representatives.

The company gave a correct profitability for the year 2010.

A credit line may be considered for USD 5,000

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	N.A.	Payments	REGULAR
Cash	NORMAL

APPENDIX

Person Interviewed
	Renee
Position
	Representative
Comments
	She refused to provide us any financial data on grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.38
UK Pound	1	Rs.73.88
Euro	1	Rs.65.83

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	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
----	NB	New Business	----

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.