MIRA INFORM
REPORT
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Report Date : |
01.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
LAXMI DIAMOND INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
21.04.1998 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Diamond Jewelry. |
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 : |
Moderate |
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Payment
Behaviour : |
--- |
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Litigation : |
--- |
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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: |
Laxmi Diamond NY |
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Address in the order: |
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Legal Name: |
LAXMI JEWEL, INC. |
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Trade Name: |
Laxmi Diamond NY |
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Legal Address |
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Telephone: |
+1 (212) 840-4506 |
Document Number : |
2251494 |
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Fax: |
+1 (212) 840-5741 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
NA |
Date Created: |
1998 |
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Manager: |
BAKUL GAJERA, CEO |
Date Incorporated: |
APRIL 21, 1998 |
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Staff: |
6 employees |
Stock: |
200 |
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Value: |
No par value |
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Activity: |
Diamond jewelry. |
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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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The company was created in 1998. It was formerly known as "CARAT JEWELRY, INC.". In July 2000
it changed its name to "CYGNUS JEWELRY, INC.", and finally changed
its name to "LAXMI JEWEL, INC." in 2003. |
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PRINCIPAL ACTIVITY |
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LAXMI JEWEL INC. is a private company located in the LAXMI JEWEL INC sells or consigns finished jewelry. This is an established structure. The company has international business partners. We called the entity. The staff was not very cooperative and confirmed just the company's
location. |
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Sales are: |
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Wholesale |
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Operations area: |
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National, International |
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The subject employs 6 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 in |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The company's shareholders were not confirmed with the staff. |
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Management: |
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BAKUL GAJERA, CEO, NIKUNJ PAREKH, Principal.
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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 |
2009 |
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Turnover |
790,000 |
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Legal Fillings |
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There is one UCC file 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 records 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 low 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 business with experience in this industry. The entity's industry has not been the subject of numerous adverse news
recently. We nevertheless noticed an important decrease in the company's income. In addition, the staff did not appear very confident during the
interview. We estimate by safety that any credit line must require guarantees at
this point. A review within 6 months may help to reassess the business'
creditworthiness. |
SUMMARY
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Profitability |
MEDIUM |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
TO BE MONITORED |
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Cash |
MEDIUM |
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APPENDIX
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Comments |
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The staff confirmed the company’s location. The person interviewed was
unwilling to provide his name. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.18 |
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1 |
Rs.72.78 |
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Euro |
1 |
Rs.62.15 |
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.