ACUITE B- | Reaffirmed & Withdrawn | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
1.00
ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
2.00
-
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
RBI
Total Outstanding
0.00
0.00
-
-
-
Total Withdrawn
0.00
18.00
-
-
-
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuité has reaffirmed and withdrawn its long-term rating of ‘ACUITE B-’ (read as ACUITE B Minus) and short-term rating of 'ACUITE A4' (read as ACUITE A Four) on the Rs.17.00 Cr. bank facilities of Jawahar Constructions (Previously Known as K Jawahar). The rating has been withdrawn on account of the request received from the issuer and the NOC (No Objection Certificate) received from the banker.
Acuité has also withdrawn its rating on the proposed long-term bank facilities of Rs.1.00 Cr. of Jawahar Constructions (Previously Known as K Jawahar) without assigning any rating as it is a proposed facility. The rating has been withdrawn on account of the request received from the issuer.
The rating has been withdrawn as per Acuite's policy of withdrawal of ratings as applicable to the respective instrument/facility.
The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information
About the Company
Tamil Nadu based, Jawahar Constructions (JC) (Previously Known as K Jawahar ) a proprietorship concern, established in 1980 is now a Partnership firm established. The constitution change happened in August 2015. The firm engaged in construction of Road, check dams, Bridge and undertaking repairing works of national highways. JC is Class-I contractor for Tamil Nadu Public Works Departments (TPWD) and District Rural Development Agencies (DRDA). The firm is also an approved contractor by National Highway Authority of India (NHAI).Directors of company Rizwana Khatoon and Ali Jawhar.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower:
Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveilance & 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 unwilingness to provide information could be a sign of potential deterioration in its overal 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
Rating Sensitivity
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
No information provided by the issuer / available for Acuite to comment upon.
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
Proposed Secured Overdraft
Long Term
1.00
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
13 Jan 2025
Bank Guarantee (BLR)
Short Term
2.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Secured Overdraft
Long Term
15.00
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
Proposed Secured Overdraft
Long Term
1.00
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
16 Oct 2023
Bank Guarantee (BLR)
Short Term
2.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Secured Overdraft
Long Term
15.00
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
Proposed Secured Overdraft
Long Term
1.00
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
Tamilnad Mercantile Bank Limited
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
2.00
Simple
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Secured Overdraft
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.00
Simple
ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
Tamilnad Mercantile Bank Limited
Not avl. / Not appl.
Secured Overdraft
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
15.00
Simple
ACUITE B- | Reaffirmed & Withdrawn | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
