MIRA INFORM REPORT

Report Date :

08.06.2011

IDENTIFICATION DETAILS

Correct Name :	PASARGAD CARPETS, INC.

Registered Office :	105 Madison Avenue, New York, New York, 10016

Country :	United States

Date of Incorporation :	13.07.1984

Com. Reg. No.:	930088

Legal Form :	Corporation for Profit

Line of Business :	Commercialization of carpets and rugs

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 10,000.
Status :	Small Company
Payment Behaviour :	Usually Correct
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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

United States

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

Bottom of Form

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	Pasargad
Address in the order:	1217 Connecticut Avenue N.W. Washington D.C 20036
Comments on data supplied:	The address provided is that of a branch. Please note that we found the company PASARGAD DC INC. incorporated in DC at the address requested, but which status is REVOKED.
Legal Name:	PASARGAD CARPETS, INC.

Legal Address	105 MADISON AVENUE NEW YORK, NEW YORK, 10016 (registered address)
Operative Address	180 Madison Avenue (Bet. 33rd & 34th Streets) New York, NY 10016
Telephone:	(212) 684-4477	Registration Number :	930088
Fax:	N.A.	Legal Form:	Corporation for Profit
Email:	pasargadNY@aol.com	Registered in:	New York
Website:	www.pasargadcarpets.com	Date Created:	1904
Manager:	MAJID BENI ISFAHANY - CEO	Date Incorporated:	July 13, 1984
Staff:	10	Stock:	200 shares
		Value:	No Par VAlue
Activity:	Commercialization of carpets and rugs.

BANKS

Name of the Bank

CHASE BANK

BUSINESS

HISTORY
	The company was established in 1904, and incorporated in New York in 1984.
PRINCIPAL ACTIVITY
	The subject specializes in the commercialization of carpets and rugs.
Products/Services description:
	It specializes in Persian, European, Indian, Turkish and Caucasian designs, offering choices such as Agras, Serapis, Sarouks, Kashans, Kirmans, Oushaks, Sultanabads, Savonneries, Kazaks, Qashqa'is, and Afshars.
Sales are:
	Retail
Clients:
	Decorators, Collectors, designers, the general public.
Operations area:
	National
The company imports from India, Pakistan, Iran, China and Nepal
The subject employs 10 employee(s)
LOCATION
Headquarters
	180 Madison Avenue (Bet. 33rd & 34th Streets) New York, NY 10016
Branches:
	Pasargad Washington D.C. 1217 Connecticut Ave, N.W. (Bet. M & N Streets) Washington, D.C. 20036 Atlanta Showroom Americasmart Suite 3-E-15 (3rd floor) Atlanta, GA

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	Despite our long searches it has not been possible to identify the shareholders. The person contacted at the company refused to provide that information on grounds of confidentiality.
Management:
	MAJID BENI ISFAHANY - Chief Executive Officer

Financials - COMMERCIAL TRENDS AND FORECAST

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

Legal Fillings

There are no active 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 normal credit rate.

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

Final Opinion

The subject is a long, well established company.

It is a small family owned business with operations on the East Coast.

No adverse record has been found.

A credit line may be considered for USD 10,000.

SUMMARY

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

APPENDIX

Comments
	The person contacted refused to provide any information on grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.74
UK Pound	1	Rs.73.25
Euro	1	Rs.65.48

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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