MIRA
INFORM REPORT
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Report Date : |
14.05.2011 |
IDENTIFICATION DETAILS
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Name : |
SANGHAVI DIAMOND
INC NY |
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Registered Office : |
1212 AVE of The |
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Country : |
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Date of Incorporation : |
17.05.1995 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Diamond Wholesaler |
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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Maximum Credit Limit : |
USD 500,000 |
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Status : |
Moderate |
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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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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: |
Sanghavi Diamond Inc NY |
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Address in the order: |
1212 Avenue of The |
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Legal Name: |
SANGHAVI DIAMONDS INC |
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Legal Address |
1212 AVE OF THE |
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Operative Address |
1212 AVE OF THE |
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Telephone: |
+1 (212) 764-7841 |
ID : |
1922864 |
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Fax: |
+1 (212) 719-4186 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1995 |
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Manager: |
VASANT SANGHAVI, PRESIDENT |
Date Incorporated: |
May 17th, 1995 |
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Staff: |
25 |
Stock: |
200 |
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Value: |
No Par Value |
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Activity: |
Diamond wholesaler |
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BANKS
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Name of the Bank |
Bank Of |
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Comments |
The person we've contacted stayed they are currently working with this
bank. |
BUSINESS
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HISTORY |
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This company was created in the year 1995. |
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PRINCIPAL ACTIVITY |
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The company is categorized under Jewelry design and sellers. Diamond
importers and resellers. |
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Sales are: |
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Wholesale |
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Clients: |
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Jewelry stores Other related industries |
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Operations area: |
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National, Local |
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The company imports from |
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The subject employs 25 employee(s) |
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Comments on staff: |
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Mr. Shah told us that they currently have 25 employees. Therefore they had an increase on the staff of a 28% |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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This company is headquartered at 1212 AVE OF THE |
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Comments on location: |
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Although the information found shows that this company has a branch in
California, Mr Shah, stated that they both had the same name; Though it has
nothing to do with the company located in Los Angeles, California. |
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Branches: |
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There were no branches found for this company. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This company is privately held Vasant SANGHAVI as the main
shareholder. |
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Management: |
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VASANT SANGHAVI, PRESIDENT NITIN JOBANPUTRA, MANAGER Abhey Kahlon, Manager Yogesh Shah, Sales executive |
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 Yogesh Shah who clarified relevant information about the company;
However he refused to provide us any financial data on grounds of
confidentiality. |
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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 |
70 M |
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The cash flow is |
20 |
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Legal Fillings |
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There are 8 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
medium sized company with 25 employees and 16 years of experience. There were no legal
filings found against the company or its legal representatives. Although the
representative we talked to, confirmed relevant information; he refused to
provide us any financial information on grounds of confidentiality. There was no
financial information found for the year 2010. Though the
financial information found for the year 2008, gave a correct profitability. A credit line may be considered for USD 500,000 |
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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Yogesh Shah |
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Position |
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Sales executive |
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Comments |
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He confirmed relevant
information; he refused to provide us any 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.44.91 |
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1 |
Rs.73.06 |
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Euro |
1 |
Rs.64.03 |
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.