MIRA
INFORM REPORT
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Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
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Name : |
PARIS CLOTHIERS INC |
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Registered Office : |
Room 1201, 12/F., |
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Country : |
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Date of Incorporation : |
10.02.1972 |
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Com. Reg. No.: |
03464312-000-02 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturer of all kind of fashions Trades in Diamonds |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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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A2 |
A2 |
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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 |
Company name
PARIS CLOTHIERS
INC
company ADDRESS
Room 1201, 12/F.,
PHONE: 2368 1281
FAX: 2721 9294
E-MAIL: diamondimpact@yahoo.com
MANAGEMENT
Manager: Mrs. Sharmila Ishwar
Mahibubani
SUMMARY
Establishment: 10th
February, 1972
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Suit Manufacturer.
Employees:
2.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
company ADDRESS
Head Office:-
Room 1201, 12/F.,
Affiliated
Companies:-
Diamond Impact Co.,
Panache Clothiers Inc.,
BUSINESS REGISTRATION NUMBER
03464312-000-02
MANAGEMENT
Manager: Mrs. Sharmila Ishwar
Mahibubani
SOLE PROPRIETOR
Name: Mrs. Sharmila Ishwar MAHIBUBANI
Residential Address: Flat D,
8/F.,
HISTORY
The subject was established
on 10th February, 197 as a sole proprietorship concern owned by Mrs. Sharmila
Ishwar Mahibubani under the Hong Kong Business Registration Regulations.
The subject has changed its
registered address for many times. Last
time, it was located at Room 1101, 11/F., Humphreys Building, 11 Humphreys
Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in
January 2009.
Apart from these, neither
material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer.
Lines: All
kinds of fashions.
Employees: 2.
Commodities Imported: Europe,
Markets:
Terms/Sales:
COD or as per
contracted.
Terms/Buying: L/C,
T/T, etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker: Indian
Overseas Bank, Hong Kong Branch.
Standing:
Small.
GENERAL
Paris Clothiers Inc is a sole
proprietorship set up on 10th February, 1972 and owned by Mrs. Sharmila Ishwar
Mahibubani who is an Indian businesswoman.
She has been in
The subject has got an
affiliated company Panache Clothiers Inc. [Panache Clothiers] located at
the same operating address. The subject
and Panache Clothiers are engaged in the same lines of business, more or
less. The subject and Panache Clothiers
are trading in the branded products “La Panache”, a brand from Dream
Panache Inc., the
La Panache purchases
fabrics directly from the world’s finest mills such as Ermenegildo Zegna, Loro
Piana, Dormeuil, Vitale Barberis Canonico, Valentino, Holland & Sherry,
Bower & Roebuck, Gianni Versace, Armani, Scabal, Valentino, Bower &
Roebuck, Bruno McKenzie, etc.
The Designer Raj Sahi
co-ordinates and directs a team of artisans “n” craftsmen par excellence, in
the epicentre of custom tailoring, under the leadership of Vanuka Sahi,
President of Dream Panache Inc., the United States. Raj Sahi has the proficiency of providing
elegant designing “n” style for the past years, amassing knowledge “n”
experience in the world of custom fashions.
He has been keeping customers measurements and since the inception of
this business.
Besides Panache Clothiers,
the subject has got another affiliated company Diamond Impact Co. [Diamond
Impact] located at the same operating address.
Diamond Impact is also controlled by Sharmila Ishwar Mahibubani. The contact person is Mr. Mohan Vaswani who
is also an Indian. Diamond Impact is
trading in diamonds and jewellery.
Commodities are imported from
The subject had a branch
company Paris Commercial Company which was established on 15th September, 1982,
but has been closed down since 20th January, 2001.
The subject offers clients
with mail order services. Its clients
include Diplomats, Ambassadors, Doctors, Attorneys, Business Executives,
Accountants, Bankers, etc. The subject’s
12,000 fabric swatches ranging from Scottish Tweeds, Cashmere, English
Flannles, Worsted Wool, French Gabardines and Mohair from Italy, etc. Its business is just fair. In recent years, the subject has been doing
its diamond business while its garment manufacturing business has decreased
substantially. The history of the
subject in
On the whole, consider the
subject good for normal business engagements in small credit amounts.
COURT CASES: None
per our records.
Important Note:
The associated company of Paris Clothiers Inc. Diamond Impact co. which is located at the same address is trading in diamonds. Diamond Impact co. is also operated by Mrs. Sharmila Ishwar Mahibubani who is the sole proprietor of Paris Clothiers Inc. We have already mentioned these cases in our report. Under these circumstances, paris Clothiers Inc. also trades in diamonds as its fashion making business has been declining.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.59 |
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1 |
Rs.73.42 |
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Euro |
1 |
Rs.66.04 |
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.