MIRA INFORM REPORT
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Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
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Name : |
NEW DEAL NY INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
13.09.2006 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Jewelry Saler |
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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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: |
New Deal NY Inc |
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Address in the order: |
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Legal Name: |
NEW DEAL NY INC. |
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Legal Address |
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Operative Address |
62 West, |
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Telephone: |
(212) 764-8780 |
Document Number : |
NA |
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Fax: |
NA |
Legal Form: |
Corporation for Profit |
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Email: |
NA |
Registered in: |
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Website: |
NA |
Date Created: |
NA |
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Manager: |
Virendra Dhadda, President |
Date Incorporated: |
SEPTEMBER 13th., 2006 |
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Staff: |
4 |
Stock: |
200 |
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Value: |
No par value |
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Activity: |
Jewelry saler |
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BANKS
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Name of the Bank |
JPMORGAN CHASE BANK, NA |
BUSINESS
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PRINCIPAL ACTIVITY |
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Jewelry saler |
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Products/Services description: |
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Manufacturing of diamond tennis bracelets, necklaces, and large loose
diamonds. |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry |
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Suppliers: |
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The person contacted refused to provide the name of the suppliers for us
to check trade references |
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Operations area: |
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National, International |
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The company imports from worldwide, depending on the demand |
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The company export to worldwide, depending on the demand |
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The subject employs 4 employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at: |
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Comments on location: |
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Single location |
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 privately owned business, in which Mr. Virandra Dhadda is
the main shareholder. |
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Management: |
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Virandra Dhadda, President |
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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We have contacted Virandra Dhadda, President of the company, who refused
to provide us any financial data without knowing the name of the inquiring
party. |
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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 |
1,120,000 |
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Operating Income |
66,000 |
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Net Income |
40,000 |
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Net worth |
120,000 |
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Liabilities |
75,000 |
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The cash flow is |
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Comments on the financial data: We have
contacted Virandra Dhadda, President of the company, who refused to provide
us any UPDATED financial information. |
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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 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 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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This is a small sized American company
which employs 4 persons and has over 6 years of experience in the market. It
has pretty satisfying income for its size, and the profitability is correct. There were no legal filings found against
the company or its representatives. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person Interviewed |
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Virandra Dhadda |
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Position |
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President |
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Comments |
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The person contacted provided us with the following information: employees,
operation area, imports, exports and payments to suppliers, but he refused to
provide us with any updated financial information on grounds of
confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.34 |
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1 |
Rs.73.70 |
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Euro |
1 |
Rs.65.75 |
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 |
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.