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MIRA INFORM REPORT
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Report No. : |
489412 |
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Report Date : |
01.02.2018 |
IDENTIFICATION DETAILS
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Name : |
ASHI DIAMONDS, L.L.C. |
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Registered Office : |
14th Floor, 18 East 48th
Street, New York, New York, 10017 |
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Country : |
United Status |
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Date of Incorporation : |
1984 |
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Legal Form : |
Domestic Limited Liability Company |
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Line of Business : |
Subject engaged in wholesale distribution of jewelry, precious
stones and metals, costume jewelry, watches, clocks, and silverware. |
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No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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United Status |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATUS - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, 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, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US 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.
The onrush of technology has been a driving factor in 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. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. 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 and oil has a major impact on the overall health of the economy. 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. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US 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, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. 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, 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. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
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 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.
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 Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - 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 (Fed) 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 dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
ASHI DIAMONDS, L.L.C. |
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TradeName: |
ASHI DIAMONDS, L.L.C. |
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ID: |
2215820 |
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Date Created: |
1984 |
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Date Incorporated: |
JANUARY 08, 1998 |
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Legal Address: |
14TH FLOOR |
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Operative Address: |
14TH FLOOR |
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Telephone: |
(212) 319-8291 |
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Fax: |
(800) 622-2744 |
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Legal Form: |
DOMESTIC LIMITED LIABILITY COMPANY |
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Email: |
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Registered in: |
NEW YORK |
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Website: |
www.ashidiamonds.com |
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Contact: |
Mahendra Pandya, President |
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Staff: |
40 |
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Activity: |
NAICS 1: Jewelry, Watch, Precious Stone,
and Precious Metal Merchant Wholesalers SIC 1: Diamonds (Gems) |
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Banks: |
BANK OF AMERICA, N.A. 101 SOUTH TRYON STREET, CHARLOTTE, NC
28255, USA |
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History: |
Founded in 1984, Ashi Diamonds, L.L.C.
is a mid-sized organization located in New York, NY. |
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PRINCIPAL
ACTIVITY
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The Company's line of business includes the
wholesale distribution of jewelry, precious stones and metals, costume
jewelry, watches, clocks, and silverware. |
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Products/Services description: |
Jewelry, precious stones and metals,
costume jewelry, watches, clocks, and silverware. |
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Brands: |
ASHI’s I Do Collection ASHI's Lovebright Diamond Collection ASHI’s Forevermore 2Stone Collection ASHI’s EMotion Diamonds ASHI’s Champagne Diamond Collection ASHI’s Silver Stones Collection |
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Sales are: |
Retail and Wholesale |
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Clients: |
Independent Retail Jewelers in
North America |
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Suppliers: |
No found. |
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Operations area: |
National and international. |
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The company imports from |
INDIA, CHINA. |
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The subject employs |
40 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
14TH FLOOR |
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Branches: |
This is a single location business. |
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Related Companies: |
ASHI DIAMONDS (INDIA) PRIVATE LIMITED Floor 416 Panchratna Mumbai, Maharashtra, 400004 India |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
Major holders would be: Asha Pandya Mahendra Pandya |
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Management: |
Karma Noble, Marketing and Advertising
and Networking Mahendra Pandya, President Asha Pandya, Partner |
FINANCIAL
INFORMATION
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The company does not make its financial statements
public. The following information has been provided by private sources: |
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USD 2016 |
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Revenue |
7,476,396 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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CASES |
Harrison v. Ashi Diamonds, LLC Plaintiff: William Harrison Defendant: Ashi Diamonds, LLC Counter_defendant: William Harrison Counter_claimant: Ashi Diamonds, LLC Case Number: 1:2012cv00094 Filed: May 2, 2012 Court: Mississippi Northern District
Court Harrison v. Ashi Diamonds, LLC Plaintiff: William Harrison Defendant: Ashi Diamonds, LLC Case Number: 1:2013cv00179 Filed: September 24, 2013 Court: Mississippi Northern District
Court Office: Aberdeen Division Office Harrison v. Ashi Diamonds, LLC Plaintiff: William Harrison Defendant: Ashi Diamonds, LLC Case Number: 1:2014cv00484 Filed: January 27, 2014 Court: New York Southern District Court |
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TRADEMARKS |
SILVER STONES Jewelry made in whole or substantial
part of silver Owned by: Ashi Diamonds, LLC Serial Number: 77732943 BABY DUOS Diamond and precious stone jewelry set
in precious metals Owned by: Ashi Diamonds, LLC Serial Number: 77765591 FOREVERMORE Diamond and precious stone jewelry made
of precious metal and their alloys Owned by: Ashi Diamonds, LLC Serial Number: 77916179 NOBODY DOES "I DO" LIKE WE DO Jewelry Owned by: Ashi Diamonds, LLC Serial Number: 78367207 NOBODY DOES "I LOVE YOU" LIKE
WE DO! Jewelry Owned by: Ashi Diamonds, LLC Serial Number: 78720896 |
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RENEWAL HISTORY |
Filing Date Name Type Entity
Name JAN 08, 1998 Actual ASHI DIAMONDS,
L.L.C. |
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UCC |
1. Debtor Names: ASHI DIAMONDS, L.L.C. 589
5TH AVE FL 6, NEW YORK, NY 10017-1923, USA Secured Party Names: FANCY TRADING CO, LLC 1 ROCKEFELLER PLAZA, NEW YORK, NY
10020, USA 200310031676158 10/03/2003 10/03/2008 Financing Statement 1 View 200502100215951 02/10/2005 10/03/2008
Termination 2. Debtor Names: ASHI DIAMONDS, L.L.C. 18
EAST 48TH STREET 14TH FLOOR, NEW YORK, NY 10017, USA Secured Party Names: BANK OF AMERICA, N.A. 101 SOUTH TRYON STREET, CHARLOTTE, NC
28255, USA 200511236028829 11/23/2005 11/23/2010 Financing Statement 1 View 201001085022038 01/08/2010 11/23/2010
Termination 3. Debtor Names: ASHI DIAMONDS, L.L.C. 18
E 48TH ST. FL 14, NEW YORK, NY 10017, USA Secured Party Names: ALMA DIAMONDS INC. 579, FIFTH AVE, SUITE # 600, NEW YORK, NY 10017, USA 200906028188822 06/02/2009 06/02/2014 Financing Statement 200906228214984 06/22/2009 06/02/2014 Termination |
SUMMARY
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Founded in 1984, Ashi Diamonds, L.L.C.
is a mid-sized organization in the jewelry and precious stone companies
industry located in New York, NY. It has 40 full time employees and
generates an estimated $7.4 million in annual revenue. It imports mainly from China and India,
and exports mainly to North America. It appears as ACTIVE in the records of
NY. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No Complaints |
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CASH FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW
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NAME |
NA |
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POSITION |
Secretary |
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COMMENTS |
She confirmed address, name, employees, manager
and activity. She refused to confirm further details. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.69 |
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1 |
INR 90.35 |
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Euro |
1 |
INR 79.21 |
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USD |
1 |
INR 63.90 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.