MIRA INFORM REPORT

 

 

Report Date :           

21.05.2011

 

IDENTIFICATION DETAILS

 

Name :

ROSY BLUE JEWELRY INC

 

 

Formerly Known As :

DIAGOLD INC

 

 

Registered Office :

529 Fifth Ave, New York, New York, 10017

 

 

Country :

United States 

 

 

Date of Incorporation :

27.09.1983

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Wholesaler Diamonds and Jewelry

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 50,000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Usually Correct 

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Rosy Blue Jewellery Inc

Address in the order:

529, Fifth Avenue, 12th Flr, New York-NY-10017

Legal Name:

ROSY BLUE JEWELRY INC

Legal Address

529 FIFTH AVE

NEW YORK, NEW YORK, 10017

Operative Address

529, Fifth Avenue,  12th Floor, New York, NY 10017

Telephone:

+1 212-687-8838

ID :

870306

Fax:

+1 212-856-9835

Legal Form:

Corporation for Profit

Email:

newyork@rosyblue.com

Registered in:

New York

Website:

www.rosyblue.com

Date Created:

1983

Manager:

Baron Dilip Mehta, CEO

Date Incorporated:

September 27, 1983

Staff:

75 (At group level)

Stock:

500 shares

 

 

Value:

No Par value

Activity:

Wholesaler Diamonds and Jewelry

 

 

BANKS

 

Name of the Bank

THE CHASE MANHATTAN BANK

Name of the Bank

ABN AMRO BANK

Name of the Bank

ALGEMENE BANK NEDERLAND

 

BUSINESS

 

HISTORY

 

This company was created in the year 1983. It was formerly known as DIAGOLD INC., in 1983. And it changed its name to Rose Blue Jewelry Inc in the year 1995.

PRINCIPAL ACTIVITY

 

This company is categorized under diamond and jewelry wholesaler

Sales are:

 

Wholesale

Brands:

 

ORRA

Clients:

 

Major retail chains

Department and discount stores

Other related industries

Operations area:

 

National, Local

The company does not export

Comments on staff:

 

The subject employs 75 employees at group level. The person we've contacted kindly confirmed this information.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at 529, Fifth Avenue, 12th Flr, New York-NY-10017.

Branches:

 

There were no branches found for this company.

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company is part of The Rosy Blue Alliance an international company created in the year 1960.

 

It is wholly own subsidiary of Rosy Blue Fine Inc, located in the same address than the subject.

Management:

 

Baron Dilip Mehta, CEO

Dipu Mehta, Group Executive US

Sanjay Shah, Finance Executive 

Kaveri Shrivastava, Human Resources Executive 

Birain Pariek, Sales Executive

Related Companies:

 

The company has worldwide locations including:

 

Armenia

Belgium

China

Hong Kong

India

 

Among others.

 

 

 

 



Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted nancy Daniels, who confirmed company's basic information; however she refused to provide us any financial data on grounds of confidentiality.

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.

 

Currency

DATE

USD

2010 (Consolidated from mother company)

Turnover

17,500,000

 

 

Currency

DATE

USD

2008

Turnover

4,150,000

Operating Income

64,000

Net Income

56,000

Net worth

125,000

Liabilities

45,000

The cash flow is

20

 


Comments on the financial data: As a private company, the subject does not publish any financial statements.

However, our financial sources could provide us with the following figures:

Legal Fillings

 There are 344 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 United States citizens and permanent residents are prohibited from doing business.

 

 

 

 

** 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 United States of America. 

 

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

 

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.

 

 Final Opinion

 

This company has been in business for 28 years. It has a staff of 75 employees at group level which makes it a medium sized company.

 

There were no legal filings found against the company or its legal representatives.

 

The company is wholly own subsidiary of Rosy Blue Fine Inc, a private company headquartered in the same address than the subject.

 

We have contacted the company but they refused to provide us any financial information on grounds of confidentiality.

 

Therefore we consolidated the financial information from its mother company.

 

The company gave a correct profitability for the year 2010.

 

A credit line may be considered for USD 50,000

 



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

 

Indebtedness

 

Payments

REGULAR

 

Cash

SUFFICIENT

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Nancy Daniels

Position

 

Representative

Comments

 

She confirmed company's basic information; however she refused to provide us any financial data on grounds of confidentiality.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.92

Euro

1

Rs.64.34

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.