Press Release RAMESH KUMAR AND COMPANY April 19, 2022 Rating Reaffirmed and Issuer not co-operating

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	12.50	ACUITE B+ | Reaffirmed | Issuer not co-operating*	-
Bank Loan Ratings	3.50	-	ACUITE A4 | Reaffirmed | Issuer not co-operating*
Total Outstanding Quantum (Rs. Cr)	16.00	-	-
Total Withdrawn Quantum (Rs. Cr)	0.00	-	-

Rating Rationale

­Acuité has reaffirmed the long term rating of ‘ACUITE B+’ (read as ACUITE B plus) and the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs.16.00 crore bank facilities of Ramesh Kumar & Co (RKC). This rating continues to be an indicative rating and is based on the best available information.

About the Company

­Established in 1982, RKC is a Delhi-based sole proprietorship firm promoted by Mr. Somnath Aggarwal. The company is engaged in trading of a variety of rice, namely Basmati Rice, Idli Rice, Ponni Rice, Pusa Basmati Rice, SonaMasoori Rice and Super Basmati Rice. The warehouse of the firm is located at Karnal near New Delhi which offers locational advantage. The firm procures rice from mandis and milling companies located locally.

Non-cooperation by the issuer/borrower:

­Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information before the due date. Acuité believes that information risk is a critical component in such ratings, and non-cooperation by the issuer along with an unwillingness to provide information could be a sign of potential deterioration in its overall credit quality. This rating is, therefore, being flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.

Limitation regarding information availability:

­The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavored to gather information about the entity/industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based.

About the Rated Entity - Key Financials

­The rated entity has not shared the latest financial statements despite repeated attempts.

Rating Sensitivity

­No information provided by the issuer/ available for Acuité to comment upon.

Material Covenants

­Not Applicable.

Liquidity Position

­No information provided by the issuer/ available for Acuité to comment upon.

Outlook

­Not Applicable.

Status of non-cooperation with previous CRA

­Not Applicable.

Any other information

­Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups.

Applicable Criteria

• Trading Entities: https://www.acuite.in/view-rating-criteria-61.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm

Note on Complexity Levels of the Rated Instrument

https://www.acuite.in/view-rating-criteria-55.htm

Rating History

Date Name of Istruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 18 Jan 2021 Cash Credit Long Term 2.50 ACUITE B+ (Issuer not co-operating*) Warehouse Receipt Financing Long Term 10.00 ACUITE B+ (Issuer not co-operating*) Packing Credit Short Term 3.50 ACUITE A4 (Issuer not co-operating*) 06 Nov 2019 Warehouse Receipt Financing Long Term 10.00 ACUITE B+ | Stable (Reaffirmed) Cash Credit Long Term 2.50 ACUITE B+ | Stable (Reaffirmed) Packing Credit Short Term 3.50 ACUITE A4 (Reaffirmed) 25 Sep 2018 Packing Credit Short Term 3.50 ACUITE A4 (Reaffirmed) Cash Credit Long Term 2.50 ACUITE B+ | Stable (Reaffirmed) Cash Credit Long Term 10.00 ACUITE B+ | Stable (Reaffirmed) 17 Aug 2017 Cash Credit Long Term 10.00 ACUITE B+ | Stable (Reaffirmed) Cash Credit Long Term 2.50 ACUITE B+ | Stable (Reaffirmed) Packing Credit Short Term 3.50 ACUITE A4 (Reaffirmed) 28 Apr 2016 Cash Credit Long Term 10.00 ACUITE B+ | Stable (Upgraded from ACUITE B | Stable) Cash Credit Long Term 2.50 ACUITE B+ | Stable (Upgraded from ACUITE B | Stable) Packing Credit Short Term 3.50 ACUITE A4 (Upgraded from ACUITE A4) 25 Feb 2015 Cash Credit Long Term 10.00 ACUITE B | Stable (Reaffirmed) Cash Credit Long term 2.50 ACUITE B | Stable (Reaffirmed) Packing Credit Short term 3.50 ACUITE A4 (Reaffirmed) 24 Jul 2014 Cash Credit Long Term 10.00 ACUITE B | Stable (Assigned) Cash Credit Long Term 2.50 ACUITE B | Stable (Assigned) Packing Credit Short Term 3.50 ACUITE A4 (Assigned)

­*The issuer did not co-operate; based on best available information

Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Rating Union Bank of India Not Applicable Cash Credit Not Applicable Not Applicable Not Applicable 2.50 ACUITE B+ | Reaffirmed | Issuer not co-operating* Union Bank of India Not Applicable PC/PCFC Not Applicable Not Applicable Not Applicable 3.50 ACUITE A4 | Reaffirmed | Issuer not co-operating* Union Bank of India Not Applicable Warehouse Receipt Financing Not Applicable Not Applicable Not Applicable 10.00 ACUITE B+ | Reaffirmed | Issuer not co-operating*

­*The issuer did not co-operate; based on best available information

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai. Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité.