ACUITE B- | Downgraded & Withdrawn | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
6.00
-
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
RBI
Total Outstanding
0.00
0.00
-
-
-
Total Withdrawn
0.00
12.70
-
-
-
* 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
Acuite has downgraded and withdrawn its long-term rating to ‘ACUITE B-’ (read as ACUITE B minus) from ‘ACUITE B’ (read as ACUITE B)on the Rs. 6.70 crore bank facilities and reaffirmed and withdrawn its short-term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs. 6.00 crore bank facilities of Telawne Power Equipments Private Limited (TPEPL). The rating has been withdrawn on account of the request received from the issuer and the NOC (No Objection Certificate) received from the lender.
The withdrawal is in accordance with Acuite's policy on withdrawal of rating as applicable to the respective facility / instrument. The rating continues to be flagged as “Issuer Not Cooperating” and downgraded on account of information risk.
About the Company
Initially established in the year 1987 as a proprietorship concern by Late. Mr. Sudhakar Telawne in the name of Telawne Cromptek. Later in the year 2004 the constitution and name changed to Telawne Power Equipments Private Limited (TPEPL) and with Mr. Rakesh Telawne (son of Mr. Sudhakar) joining the company as director. Telawne Power Equipments Private Limited (TPEPL) is engaged into manufacturing of various types of transformers. The company carries out its entire manufacturing operations in Navi-Mumbai, Maharashtra. The director of the company is Mr. Rakesh Sudhakar Telawne Mrs. Shubhangi Sudhakar Telawne and Mrs. Aboli Rakesh Telawne.
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 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 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
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+)
Term Loan
Long Term
0.20
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
01 Mar 2024
Letter of Credit
Short Term
3.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Bank Guarantee/Letter of Guarantee
Short Term
3.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
6.50
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
Term Loan
Long Term
0.20
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
Canara Bank
Not avl. / Not appl.
Bank Guarantee/Letter of Guarantee
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.00
Simple
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Canara Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
6.50
Simple
ACUITE B- | Downgraded & Withdrawn | Issuer not co-operating* ( from ACUITE B )
Canara Bank
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.00
Simple
ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Canara Bank
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.20
Simple
ACUITE B- | Downgraded & Withdrawn | Issuer not co-operating* ( from ACUITE B )
* 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.
