Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 18.00 ACUITE BB- | Reaffirmed | Issuer not co-operating* -
Total Outstanding Quantum (Rs. Cr) 18.00 - -
Rating Rationale
­Acuité has reaffirmed the long term rating to ‘ACUITE BB-’ (read as ACUITE double B ‘minus’) on the Rs.18.00 crore bank facilities of Aara Jungle Resort (AJR). This rating is now an indicative rating and is based on the best available information.

About the Firm
­Based in Tamil Nadu, Aara Jungle Resort is a partnership firm established in 2021. The partners of this firm are Mr. Janarthan Santhoosh and Ms. Motcha Priya. The firm is engaged in operating resorts - bars, restaurants, etc. The resort consists of 41 rooms, restaurants, spa and other amenities
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 noncooperation 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 has endeavoured 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.
Rating Sensitivities
­"No information provided by the issuer / available for Acuite to comment upon.
Material Covenants
Liquidity Position
­"No information provided by the issuer / available for Acuite to comment upon.
Outlook: Not applicable
Key Financials:
­The rated entity has not shared the latest financial statements despite repeated reques
Status of non-cooperation with previous CRA
Infomerics vide its press release dated  7.10.2022 had downgraded the company to IVR BB/A4; Issuer Not Cooperating.
Any other information
Applicable Criteria
• Application Of Financial Ratios And Adjustments:
• Default Recognition:
• Service Sector:

Note on Complexity Levels of the Rated Instrument
­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
01 Apr 2022 Proposed Bank Facility Long Term 8.32 ACUITE BB- | Stable (Assigned)
Term Loan Long Term 9.68 ACUITE BB- | Stable (Assigned)

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating
Not Applicable Not Applicable Proposed Long Term Loan Not Applicable Not Applicable Not Applicable 8.32 Simple ACUITE BB- | Reaffirmed | Issuer not co-operating*
CSB Bank Limited Not Applicable Term Loan Not available Not available Not available 9.68 Simple ACUITE BB- | Reaffirmed | Issuer not co-operating*

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