MIRA
INFORM REPORT
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Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
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Name : |
KRIPA GEMS INC |
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Registered Office : |
550, S. Hill ST. Suite No. 1047, Los Angeles, CA 90013 |
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Country : |
United States |
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Date of Incorporation : |
29.09.1997 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Jewelry, watch, precious stone, and precious metal merchant Wholesalers |
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 : |
Small Company |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
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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Legal Name: |
Kripa Gems Inc |
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Legal Address |
550, S. Hill ST. Suite No. 1047, Los Angeles, CA 90013, USA. |
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Telephone: |
+1 (213) 622-0807 |
ID : |
C2018974 |
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Fax: |
+1 (213) 622-0807 |
Legal Form: |
Corporation for Profit |
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Email: |
NA |
Registered in: |
California |
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Website: |
NA |
Date Created: |
NA |
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Manager: |
Manish Parekh, CEO |
Date Incorporated: |
September 29th, 1997 |
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Staff: |
2 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Jewelry, watch, precious stone, and precious metal merchant
Wholesalers |
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BANKS
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Name of the Bank |
LEUMI BANK |
BUSINESS
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HISTORY |
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Kripa Gems Inc in Los Angeles, CA is a private company categorized under
wholesale diamonds. Our show it was established in 1997 and incorporated in
California. |
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PRINCIPAL ACTIVITY |
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The company operates as a specialty wholesaler of jewelry in the
United States. |
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Products/Services description: |
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It offers a selection of merchandise, including diamond rings and
jewelry; gold jewelry and chains; gemstone rings; watches; and other fine
jewelry. Most of the diamonds sold, by the company, are one carat or less in
size, and the company also offers a limited selection of larger diamonds.
Gold jewelry items sold in the company’s stores are primarily 14 karat. Its gemstone rings contain either precious stones, such as rubies,
sapphires, and emeralds or semi-precious gems, such as opals, blue topaz,
amethyst, and garnets. |
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Sales are: |
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Wholesale |
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Clients: |
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Companies |
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Operations area: |
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National, Local |
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The company imports from Europe and Asia |
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PAYMENTS |
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regular |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a privately held company. MANISH PAREKH is believed to be the
main shareholder. |
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Management: |
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MANISH PAREKH, Chief Executive Officer, BEENA PAREKH, Secretary. |
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 Mr. PAREKH but he refused to provide us with the information
required. |
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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. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
1,000,000 to 2,500,000 |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
1,000,000 |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
657 000 |
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Net Income |
69 000 |
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Liabilities |
40 000 |
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Legal Fillings |
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There are no UCC files listed
with the Secretary of State of California. 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 records on
financial obligations (including IRS liens) incurred by individuals (in
business as a sole proprietor), business entities and corporations. |
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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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The company is a small company that has been in business for 13 years. It has a working staff of 2 people. There are no legal filings against this company. Financial results for 2010 remains encouraging. A credit line may be considered for USD 20,000. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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MANISH PAREKH |
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Position |
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CEO |
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Comments |
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He refused to provide us with information for confidentiality reasons. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.72 |
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1 |
Rs.71.95 |
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Euro |
1 |
Rs.64.79 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.