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MIRA INFORM
REPORT
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Report Date : |
15.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
ANAYA GEMS INC (OTC INTERNATIONAL) |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.05.2008 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Jewelry Company |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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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 |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Anaya Gems Inc |
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Address in the order: |
D.B.A. OTC International 31-00, |
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Legal Name: |
ANAYA GEMS INC (OTC INTERNATIONAL) |
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Trade Name: |
OTC INTERNATIONAL |
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Legal Address |
18 EAST 48TH STREET 12TH FLOOR, |
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Operative Address |
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Telephone: |
718-391-7400 |
ID : |
3665694 |
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Fax: |
718-391-7575 |
Legal Form: |
Corporation for Profit |
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Email: |
NA |
Registered in: |
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Website: |
NA |
Date Created: |
1977 |
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Manager: |
Anshul Gandhi, CEO |
Date Incorporated: |
MAY 01, 2008 |
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Staff: |
60 |
Stock: |
200 |
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Value: |
No Par Value |
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Activity: |
Jewelry company |
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BANKS
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Name of the Bank |
BANK OF |
BUSINESS
`
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HISTORY |
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The company was created in 1977.
ANAYA GEMS filed for Chapter 11 bankruptcy protection on April 2008. The company reportedly notified the court that for the fiscal
year ending Feb. 28, 2007, the company generated gross revenues of
approximately $97.5 million and net income of approximately $566,000. But for
the fiscal year ending Feb. 28, 2008, the company generated gross revenues of
approximately $85 million and incurred net operating losses of about $15
million. On August 2008 the company merged with Dialuck Corporation and both
companies today work as ANAYA GEMS INC. |
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PRINCIPAL ACTIVITY |
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It operates as a jewelry company. |
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Products/Services description: |
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The company offers diamond, gold, silver, and gemstone jewelry; agate
cameos; and watches produced in the |
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Sales are: |
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Wholesale |
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Brands: |
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SILVERITE |
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Operations area: |
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National |
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The company imports from Europe, Middle East, Far West and |
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The company export to Mainly to |
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The subject employs 60 employee(s) |
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PAYMENTS |
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made on a 65 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company is headquartered in: |
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Surface area: |
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100,000 square foot |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a private company, Anshul Gandhi is the owner and major
shareholder. |
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Management: |
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Anshul Gandhi, Chief Executive Officer Michael Sheinman, President Ajay Gandhi, Chairman |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted Girish who refused to provide us any financial data
without knowing the name of the inquiring party. |
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However our financial sources could provide us with the following data
(ESTIMATES): |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
40,000,000 |
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The cash flow is |
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Legal Fillings |
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There is 1 UCC files listed with the
Secretary of State of New York. There is one legal filing corresponding to
the entering of Chapter 11 on 2008. For information: 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 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
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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. |
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Final Opinion |
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This is a medium sized Dialuck Corporation. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
YES |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person Interviewed |
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Girish |
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Position |
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Accounts Payable |
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Comments |
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We have contacted the company and, even though Girish refused to
provide us any financial information, he explained that ANAYA GEMS INC is in fact the name of the company, OTC INTERNATIONAL is a Does Business As name, and that the company was
merged with DIALUCK CORPORATION on 2008 after entering Chapter 11. He also
explained that after the merging, DIALUCK CORPORATION was dissolved and now
both companies constitute ANAYA GEMS INC. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.30 |
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1 |
Rs.71.73 |
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Euro |
1 |
Rs.60.40 |
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.