MIRA
INFORM REPORT
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Report Date : |
11.05.2011 |
IDENTIFICATION DETAILS
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Name : |
VAISHALI DIAMOND CORPORATION |
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Registered Office : |
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Country : |
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Date of Incorporation : |
13.08.1986 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufacturers and Importers of Polished Diamonds. |
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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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: |
Vaishali Diamond Corporation |
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Address in the order: |
579, |
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Legal Name: |
VAISHALI DIAMOND CORPORATION |
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Legal Address |
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Operative Address |
579, |
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Telephone: |
(212) 308-6033 - Ext.105 |
ID : |
1104572 |
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Fax: |
(212) 308-6185 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1986 |
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Manager: |
Rajesh Shah, President and Owner |
Date Incorporated: |
August 13th, 1986 |
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Staff: |
7 employees |
Stock: |
200 |
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Value: |
No Par Value |
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Activity: |
Manufacturers and importers of polished diamonds. |
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BANKS
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Name of the Bank |
Antwerpse Diamantbank |
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Name of the Bank |
FLEET BANK |
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BUSINESS
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HISTORY |
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The company was created in the year 1986. |
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PRINCIPAL ACTIVITY |
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The company is in the importing and manufacturing of polished
diamonds. |
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Products/Services description: |
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GIA certified diamonds in all shapes and sizes: Round Princess Emerald Oval Asshers Radiant Cushion Marquise. |
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Sales are: |
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Wholesale |
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Brands: |
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The company has one registered trademark (VC) since 2009. |
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Clients: |
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The company offers its products not only through the location in New
York and others around the world, but mainly through its website, where other
jewelers, manufacturers and dealers can search by advanced criteria as well
as view each gem’s details and accompanying GIA certificate. |
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Operations area: |
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National, International |
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The company imports from |
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The company export to Worlwide, depending on the demand |
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The subject employs 7 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 579, |
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Branches: |
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There were no branches found for this company. |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a private company; Rajesh Shah is the owner and major
shareholder. |
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Management: |
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Rajesh Shah, President Prakash Lakhi, Administrator LEE KUPERSTEIN, ADMINISTRATOR Richard Rudd, Manager |
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Related Companies: |
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The company has other offices in Mumbai, |
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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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We have contacted Prity who provided us with the following data: |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
8,500,000 |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
5,000,000 |
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The cash flow is |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
4,800,000 |
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Operating Income |
172,000 |
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Net Income |
85,000 |
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Net worth |
760,000 |
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Liabilities |
54,000 |
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The cash flow is |
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Legal Fillings |
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There are 6 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. |
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 There were no legal filings found against the company or its legal
representatives. The accountant we talked to, kindly confirmed and provided us with the
financial information. |
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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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Prity |
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Position |
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Accountant |
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Comments |
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She kindly confirmed and provided us with information such as the
staff, address and revenue for 2010. |
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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.44.73 |
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1 |
Rs.73.21 |
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Euro |
1 |
Rs.63.90 |
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 |
-- |
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.