MIRA
INFORM REPORT
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Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
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Name : |
INDIGO HOME INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.02.2004 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and Wholesaler of luxury bed linens |
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No of Employees : |
7 |
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 : |
No Complaints |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
UNITED STATES - ECONOMIC OVERVIEW
The US has the largest and most
technologically powerful economy in the world, with a per capita GDP of
$49,800. In this market-oriented economy, private individuals and business firms
make most of the decisions, and the federal and state governments buy needed
goods and services predominantly in the private marketplace. US business firms
enjoy greater flexibility than their counterparts in Western Europe and Japan
in decisions to expand capital plant, to lay off surplus workers, and to
develop new products. At the same time, they face higher barriers to enter
their rivals' home markets than foreign firms face entering US markets. US
firms are at or near the forefront in technological advances, especially in
computers and in medical, aerospace, and military equipment; their advantage
has narrowed since the end of World War II. The onrush of technology largely
explains the gradual development of a "two-tier labor market" in
which those at the bottom lack the education and the professional/technical
skills of those at the top and, more and more, fail to get comparable pay
raises, health insurance coverage, and other benefits. Since 1975, practically
all the gains in household income have gone to the top 20% of households. Since
1996, dividends and capital gains have grown faster than wages or any other
category of after-tax income. Imported oil accounts for nearly 55% of US
consumption. Crude oil prices doubled between 2001 and 2006, the year home
prices peaked; higher gasoline prices ate into consumers' budgets and many
individuals fell behind in their mortgage payments. Oil prices climbed another
50% between 2006 and 2008, and bank foreclosures more than doubled in the same
period. Besides dampening the housing market, soaring oil prices caused a drop
in the value of the dollar and a deterioration in the US merchandise trade
deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis,
falling home prices, investment bank failures, tight credit, and the global
economic downturn pushed the United States into a recession by mid-2008. GDP
contracted until the third quarter of 2009, making this the deepest and longest
downturn since the Great Depression. To help stabilize financial markets, in
October 2008 the US Congress established a $700 billion Troubled Asset Relief
Program (TARP). The government used some of these funds to purchase equity in
US banks and industrial corporations, much of which had been returned to the
government by early 2011. In January 2009 the US Congress passed and President
Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus
to be used over 10 years - two-thirds on additional spending and one-third on
tax cuts - to create jobs and to help the economy recover. In 2010 and 2011,
the federal budget deficit reached nearly 9% of GDP. In 2012 the federal
government reduced the growth of spending and the deficit shrank to 7.6% of
GDP. Wars in Iraq and Afghanistan required major shifts in national resources
from civilian to military purposes and contributed to the growth of the budget
deficit and public debt. Through 2011, the direct costs of the wars totaled
nearly $900 billion, according to US government figures. US revenues from taxes
and other sources are lower, as a percentage of GDP, than those of most other
countries. In March 2010, President OBAMA signed into law the Patient
Protection and Affordable Care Act, a health insurance reform that was designed
to extend coverage to an additional 32 million American citizens by 2016,
through private health insurance for the general population and Medicaid for
the impoverished. Total spending on health care - public plus private - rose
from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed
the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed
to promote financial stability by protecting consumers from financial abuses,
ending taxpayer bailouts of financial firms, dealing with troubled banks that
are "too big to fail," and improving accountability and transparency
in the financial system - in particular, by requiring certain financial
derivatives to be traded in markets that are subject to government regulation
and oversight. In December 2012, the Federal Reserve Board announced plans to
purchase $85 billion per month of mortgage-backed and Treasury securities in an
effort to hold down long-term interest rates, and to keep short term rates near
zero until unemployment drops to 6.5% from the December rate of 7.8%, or until
inflation rises above 2.5%. Long-term problems include stagnation of wages for
lower-income families, inadequate investment in deteriorating infrastructure,
rapidly rising medical and pension costs of an aging population, energy shortages,
and sizable current account and budget deficits - including significant budget
shortages for state governments.
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Source
: CIA |
COMPANY NAME & ADDRESS
Company
name:
INDIGO HOME INC.
Headquarters:
230 5th Avenue, Ste 1916, New York,
NY 10001 - USA
Telephone: +1 212-684-4146
Fax: +1 212-684-4282
Website: www.indigohome.us
Corporate ID#
3017017
State
New York State
Judicial form
Corporation – Profit
Date incorporated
02-24-2004
Stock
200 shares common
Value
No par value
Name
of manager
Taniya KAPOOR
ACTIVITIES
& OPERATIONS
Business:
Indigo Home Inc. is importer and wholesaler of luxury bed linens.
Office of the Foreign
Assets Control (OFAC):
The company is not listed on the OFAC list.
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.
Suppliers include
Jiangyin Hongliu Bedsheet Co., Ltd.
Shangai, China
Changzhou Liaoyuan Textile Printing & Dyeing Co., Ltd
China
EIN: 20-0783317
Staff: 7
Operations & branches:
At above address, we find
the corporate office, on lease.
SHAREHOLDERS & MANAGERS
Shareholders:
This is a KAPOOR owned and managed company.
Management:
Taniya KAPOOR is the President and CEO
Tarun KAPOOR is the CFO
Subsidiaries & Partnership:
None
FINANCIALS
In United States, privately
held corporations are not required to publish any financials.
On a direct call, Tarun
KAPOOR controlled the present report but deferred any financials.
However, sales estimate for
year 2013 is in the range of USD 800,000=
The business is flat.
Banks:
Sterling Bank
LEGAL FILINGS
Legal filings
& complaints:
As of today date, there is no legal filing pending with the District
Courts.
Secured debts
summary (UCC):
None
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COMPANY
CREDIT HISTORY
Trade references:
Date reported:
November 2013
High credit: USD 12,000
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Office supply
Paying status:
On terms
Date reported:
November 2013
High credit: USD 10,000
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Payroll
Paying status:
As agreed
Date reported:
November 2013
High credit: USD 400
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Telecommunications
Paying status:
On terms
Domestic credit history:
National Credit Bureaus
gave a correct credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made on terms.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains a
regular business.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 61.58 |
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1 |
Rs. 101.09 |
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Euro |
1 |
Rs. 83.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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.