MIRA INFORM REPORT

 

 

Report Date :           

09.06.2011

 

IDENTIFICATION DETAILS

 

Name :

DOW GEMS INC

 

 

Registered Office :

7 E 47th St # 6, New York, NY  10017-7901

 

 

Country :

United States 

 

 

Date of Incorporation :

11.09.1980

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Jewelry Wholesaler

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United States 

a1

a1

 

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: 100 USD = 69 EUR

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Dow Gems Inc

Address in the order:

7 East 47th Street, 6th Floor, New York, N.Y. 10017

Legal Name:

DOW GEMS INC

Legal Address

7 E 47th St # 6, New York, NY  10017-7901, USA

Operative Address

7 E 47th St # 6, New York, NY  10017-7901, USA

Telephone:

+ 1 (212) 755-3232

Document Number :

650284

Fax:

+ 1 (212) 755-2885

Legal Form:

Corporation for Profit

Email:

kuberjewelry@hotmail.com

Registered in:

New York

Website:

www.kuberjewelry-com  (Under construction)

Date Created:

1980

Manager:

Basant Johari, Owner

Date Incorporated:

September 11th, 1980

Staff:

4 employees

Stock:

200

 

 

Value:

No par value

Activity:

Jewelry wholesaler.

 

 

BANKS

 

Name of the Bank

BANK OF INDIA

 

 

BUSINESS

 

HISTORY

 

The company was created in the year 1980.

PRINCIPAL ACTIVITY

 

Dow Gems Inc is a private company categorized under Wholesale Diamonds and located in New York, NY.

 

This is a well established company with strong ties in India according to the information gathered.

Products/Services description:

 

Diamond

Bangles

Bracelets

Earrings

Enamel

Pearls

Pendants

Sales are:

 

Wholesale

Clients:

 

Jewelry stores

Other related industries

Operations area:

 

National, Local

The company imports from India

The company does not export

The subject employs 4 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at 7 East 47th Street, 6th Floor, New York, N.Y. 10017.

Branches:

 

There were no branches found for this company.

 

 

Shareholders - Manager - Related Companies

 

Management:

 

The company is privately held and has Basant Johari as the main shareholder.

Related Companies:

 

Basant Johari, President

MIHIR DAIYA, MANAGER

 



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

However our financial sources could provide us with the following data (estimates):

 

Currency

DATE

USD

2010

Turnover

500,000 - 1,000,000

 

 

Currency

DATE

USD

2008

Turnover

3,500,000

The cash flow is

Normal

 



Legal Fillings

 There are 3 UCC files listed with the Secretary of State of New York.

 

There are no legal filings listed with the District Court.

 

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 low credit rate.

 

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

 Final Opinion

 

This is a small size company with 4 employees and 31 years of experience.

 

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

 

We've contacted the company but they refused to provide us information per security purposes.

 

The company showed a decrease on the revenue for the year 2010.

 

 



 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

TO BE MONITORED

Cash

CORRECT

 

 

 

 

APPENDIX

 

Person Interviewed

 

Tenee

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.44.61

UK Pound

1

Rs.73.28

Euro

1

Rs.65.47

 

 

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.