MIRA INFORM
REPORT
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Report Date : |
02.03.2011 |
IDENTIFICATION DETAILS
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Name : |
HEERA MOTI INC |
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Registered Office : |
15 West, |
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Country : |
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Date of Incorporation : |
16.03.1987 |
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Legal Form : |
Corporation for Profit. |
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Line of Business : |
Diamonds 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 : |
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: |
Heera Moti Inc |
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Address in the order: |
15 West, |
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Comments on data supplied: |
The company's registered name is listed below. |
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Legal Name: |
HEERA MOTI INCORPORATED |
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Legal Address |
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Operative Address |
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Telephone: |
+1 (212) 764 1600 |
Document Number : |
1153196 |
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Fax: |
+1 (212) 764 1600 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1987 |
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Manager: |
NARESH SADWANI, Owner |
Date Incorporated: |
March 16, 1987 |
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Staff: |
10 employees |
Stock: |
200 |
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Value: |
No par value |
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Activity: |
Diamonds and jewelry merchant |
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BANKS
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Name of the Bank |
VALLEY NATIONAL BANK, |
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Name of the Bank |
HSBC BANK |
BUSINESS
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HISTORY |
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It is a private company created in 1987. |
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PRINCIPAL ACTIVITY |
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HEERA MOTI INCORPORATED is a private company located in the The subject is working as a diamonds and fine jewelry provider. This is a well established structure. We tried to call the company. The staff was uncooperative. The structure is believed to have international business partners. |
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Products/Services description: |
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These are the products sold by the company: Amethyst Anklet Bangles Bracelets Citrine Corundum Cubic Zircon Cuff Links Diamond Earrings Emerald Garnet Mens Bracelets Mens Rings Necklace Ruby Sapphire Slider Spinel Topaz |
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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 subject employs 10 employee(s) |
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PAYMENTS |
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To be monitored. |
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LOCATION |
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Headquarters |
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The company is headquartered at: |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a private company. The main shareholder is Naresh Sadhwani. |
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Management: |
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NARESH SADHWANI, PRESIDENT AND
OWNER JAY SADHWANI, VICEPRESIDENT PAM SHADWENI, DIRECTOR |
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
(estimates): |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
1,800,000 |
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Legal Fillings |
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There are no recent 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 ** 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. |
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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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It is a small sized The company's income has decreased but remains fair for the business
size. We suggest some monitoring for the length of payment. A review within 8 months is required. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
TO BE MONITORED |
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Cash |
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APPENDIX
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Comments |
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The staff was uncooperative. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.62.32 |
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 Company |
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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.