MIRA INFORM REPORT
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Report Date : |
25.05.2011 |
IDENTIFICATION DETAILS
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Name : |
INTERINGS INC |
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Registered Office : |
450 7th Ave Ste 1909 New York, New York 10123 |
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Country : |
United States |
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Date of Incorporation : |
04.06.1980 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufacturer and supplier of jewelry |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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: |
Interings Inc |
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Address in the order: |
450 7th Avenue Suite # 1909 New York NY 10123 |
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Legal Name: |
Interings Inc |
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Legal Address |
450 7TH AVE STE 1909 New York, New York 10123, USA |
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Operative Address |
450 7th Ave Ste 1909 New York, New York 10123, USA |
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Telephone: |
+1 (212) 563-6690 |
ID : |
631266 |
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Fax: |
+1 (212) 967-2598 |
Legal Form: |
Corporation for Profit |
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Email: |
info@interings.com |
Registered in: |
New York |
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Website: |
www.interings.com |
Date Created: |
1980 |
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Manager: |
Prakash Mehta, CEO |
Date Incorporated: |
June 4th, 1980 |
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Staff: |
10 |
Stock: |
200 |
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Value: |
No Par Value |
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Activity: |
Manufacturer and supplier of jewelry |
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BUSINESS
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HISTORY |
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The company was created in the year 1980. |
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PRINCIPAL ACTIVITY |
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The company operates as a Manufacturer and supplier of jewelry. |
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Products/Services description: |
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Bangle Bracelet Earring Necklace Pendant Ring |
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Sales are: |
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Wholesale |
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Clients: |
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Retailers Jewelry stores Other related industries |
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Operations area: |
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National, International |
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The company imports from India, Hong Kong, China and Bangkok |
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The company does not export |
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The subject employs 10 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 450 7TH Ave Ste 1909 New York, New
York 10123, USA |
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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 is a private company and the main shareholder is Prakash Mehta |
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Management: |
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Prakash Mehta, CEO Bhavin Mehta; Vicepresident Gaurav Mehta, Manager |
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 a female representative who 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
(estimates): |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
700,000 |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
980,000 |
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The cash flow is |
Normal |
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There are 131 UCCs 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
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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 company with 10
employees and 31 years of experience. There were no legal filings found against the
company or its legal representatives. We've contacted the company, though they
refused to provide us any financial information on grounds of
confidentiality. Our financial sources though, provided us
with the financial figures for the year 2010. The company gave a correct profitability
for that year; Though the revenue for the year 2010 decreased on almost a 30
% compared to the year 2009. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Female representative |
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Comments |
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She refused to provide us any financial
data 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.45.25 |
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UK Pound |
1 |
Rs.72.82 |
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Euro |
1 |
Rs.63.58 |
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.