MIRA INFORM
REPORT
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Report Date : |
29.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SARAL DIAMONDS, INC. |
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Registered Office : |
576 5th Ave 404 New York, New York, 10036 |
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Country : |
United States |
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Date of Incorporation : |
19.06.1989 |
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Com. Reg. No.: |
1362048 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Diamonds Manufacturer and jewelry merchant |
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 : |
Usually Correct |
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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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Ordered as: |
Saral Diamonds Inc |
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Address in the order: |
576 Fifth Avenue, Suite 404 New York NY 10036 United States |
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Legal Name: |
SARAL DIAMONDS, INC. |
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Legal Address |
576 5TH AVE 404 NEW YORK, NEW YORK, 10036, USA |
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Telephone: |
+1 (212) 768-7106 |
Registration Number : |
1362048 |
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Fax: |
+1 (212) 768-7729 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
New York |
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Website: |
Date Created: |
NA |
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Manager: |
Ketan Doshi (President) |
Date Incorporated: |
June19, 1989 |
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Staff: |
3 |
Stock: |
200 |
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Value: |
No par value |
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Activity: |
Diamonds Manufacturer and jewelry merchant. |
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BANKS
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Name of the Bank |
HSBC BANK USA |
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Name of the Bank |
LEUMI BANK |
BUSINESS
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PRINCIPAL ACTIVITY |
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Single cut diamonds Manufacturer and jewelry merchant. Their stones are cut at their own factories in India. |
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Products/Services description: |
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The company offers products like: Rings, Earrings, Necklaces, Among others... |
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Sales are: |
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Wholesale |
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Operations area: |
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National |
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The company imports from India |
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The company does not export |
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The subject employs 3 employee(s) |
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PAYMENTS |
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made on a 50 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: 576 5TH AVE 404 NEW YORK, NEW YORK, 10036, USA |
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Branches: |
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The company does not have any branches in the USA. |
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Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This is a private company and the main shareholder is Ketan Doshi. |
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Management: |
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KETAN DOSHI, PRESIDENT |
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Related Companies: |
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K. Chandrakant & Co. 307, Mehta Bhavan , 311, Raja Rammohan Roy Road,Bombay 400 004, India Tel : 91-222-386 7155, 386 0947 Fax : 91-222-387 8764 E-mail : k_chandrakant@hotmail.com PRITI GEMS 207 "The Jewel"(Roxy) , 2nd Floor Mama Parmanand Marg, Opera
House, Mumbai 400 004, India Tel : 91-222-363 8211, 363
8212 Fax : 91-222-367 5416,
Mobile:91-98200 59454 E-mail :
browndiamonds@pritigem.com http://www.pritigem.com SWADIP GEMS RAJESH SHAH , Hovenierstraat-2,Suite# 603,
2018, Antwerpen Belgium Tel: 323-231-3851, Fax: 323-232-6581 Mobile: 324-757-3738 BEL STAR JEWELLERY (LLC) MANOJ SHAH , SUITE#132, ZONE IV, THE GOLD CENTRE, Gold Souq, P.O Box:64717, DUBAI,
U.A.E Tel: 9714-2255155, Fax: 9714-2255228 email: belstar@emirates.net.ae |
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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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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 |
2008 |
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Turnover |
1,800,000 |
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Operating Income |
81,000 |
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Net Income |
55,000 |
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Net worth |
400,000 |
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Liabilities |
100,000 |
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The cash flow is |
Normal |
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Comments on the financial data: Commissions on
sales for 2010 amount approximately USD 500,000. |
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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 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 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
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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. |
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Final Opinion |
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This is a small sized company with 3
employees. No adverse record has been found and it is
developing in regular ways. |
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SUMMARY
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Profitability |
N.A. |
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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Comments |
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The person contacted seemed very uncomfortable on the phone. He told us that the person in charge is Mo, but she was never
available to take our calls. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.05 |
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UK Pound |
1 |
Rs.71.92 |
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Euro |
1 |
Rs.64.37 |
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.