MIRA INFORM
REPORT
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Report Date : |
29.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SANGHAVI DIAMONDS INC |
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Registered Office : |
1212 Ave Of The |
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Country : |
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Date of Incorporation : |
17.05.1995 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Jewelry design and sellers. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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: |
Sanghavi Diamond Inc (NY) |
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Address in the order: |
1212, Avenue of The |
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Legal Name: |
SANGHAVI DIAMONDS INC |
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Legal Address |
1212 AVE OF THE |
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Telephone: |
(212) 764 - 7841 // (800) 234 - 1787 |
ID : |
1922864 |
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Fax: |
(212) 719 - 4186 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1995 |
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Manager: |
VASANT SANGHAVI |
Date Incorporated: |
May 17, 1995 |
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Staff: |
30 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Jewelry design and sellers. Diamond importers and resellers. |
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BANKS
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Name of the Bank |
FLEET BANK NATIONAL ASSOCIATION |
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Name of the Bank |
ANTWERPSE DIAMANTBANK NV |
BUSINESS
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HISTORY |
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This company was created in 1995. The company is a subsidiary of
Sanghavi Exports Pvt Ltd from |
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PRINCIPAL ACTIVITY |
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This company is a Jewelry, Watch, Precious Stone, and Precious Metal manufacturer
and designer. They specialize as diamond importers and resellers. |
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Sales are: |
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Wholesale, Retail |
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Operations area: |
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National, International |
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The company imports from |
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The company export to |
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The subject employs 30 employee(s) |
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PAYMENTS |
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made on a 30 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: 1212 AVE OF THE |
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Branches: |
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The company has another location at: Phone: +1-213-623 1817 Fax: +1-213-623 2819 E-mail: sanghavila@gmail.com |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The company is a subsidiary of SANGHAVI EXPORTS PVT LTD: 502-Prasad Chambers, Opera House, Mumbai - 400 004, Phone:+91-22-2364 3992 / 4 Fax:+91-22-2363 2936 E-mail: sales@sanghaviexports.com |
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Management: |
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VASANT SANGHAVI, PRESIDENT NITIN JOBANPUTRA, MANAGER YOGESH SHAH, ASSISTANT MANAGER |
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Related Companies: |
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Dynamic Design Group INC. 1212 Avenue of the 11th Floor, Phone: +1-212-840 9400 Fax: +1-212-840 7737 E-mail: contact@ddg-ny.com |
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 the company but they refused to provide us any
information. |
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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 |
2008 |
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Turnover |
70,000,000 |
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The cash flow is |
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Comments on the financial data: As the person interviewed refused to
answer any of our questions on the company, we were not able to obtain any
updates on the financial information |
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Legal Fillings |
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There are 2 UCC files listed with the Secretary
of State of New York. There are no legal filings listed with the
District Court. 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 small sized company, with 30
employees and 15 years of experience. The company is a subsidiary of Sanghavi
Exports Pvt Ltd from |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Position |
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Sales Representative |
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Comments |
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We have contacted the company and the person interviewed explained he
would not answer any of our questions without knowing the name of the
inquiring party and without verifying who was calling. For that matter, he
asked us to send an e-mail to the company with our questions and they would
write us back with whatever information they could provide us. We sent the e-mail but nobody wrote back. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.74 |
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1 |
Rs.72.73 |
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Euro |
1 |
Rs.62.73 |
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.