ACUITE BB- | Downgraded | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
141.60
-
ACUITE A4 | Downgraded | Issuer not co-operating*
RBI
Total Outstanding
0.00
151.60
-
-
-
Total Withdrawn
0.00
0.00
-
-
-
* 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
Acuite has downgraded the long-term rating to ‘ACUITE BB-’(read as ACUITE double B minus) from ‘ACUITE BB+’ (read as ACUITE Double B Plus) on the Rs.10.00 crore bank facilities and the short-term rating to ACUITE A4' (read as ACUITE A four) from 'ACUITE A4+' (read as ACUITE A four plus) on the Rs.141.60 crore bank facilities of Apra Innovative Private Limited.
The rating is now flagged as “Issuer Not-Cooperating” on account of information risk and is based on the best available information. The rating has been downgraded on account of information risk and the company has not provided latest No Default Statement (NDS) for last 3 months consecutively ended July 2026.
About the Company
Mumbai based, Apra Innovative Private Limited was incorporated in 2021. The company is engaged in trading numerous petrochemicals such as Chemicals and Solvents with customers from diversified industries such as pharma, inks, paints, resins, intermediate chemicals, etc. The company is also engaged in trading of aromatic and intermediate pharma products. Mr. Anil Pranlal Bajaria, Mr. Viraj Anil Bajaria are directors of the company.
About the Group
Apra Enterprises
Established in 1985 as a proprietorship by Mr. Anil Bajaria, Apra Enterprises trades in numerous petrochemicals such as methanol, acetone, toluene, xylene, acetic acid, N Heptane, Styrene Monomer, alpha picoline, acetonitrile, among others. The firm is based in Mumbai and is managed by Mr. Anil Pranlal Bajaria and Mr. Viraj Bajaria. Apra Innovative Private Limited and Apra Enterprises together are referred to as Apra Group.
Non-cooperation by the issuer/borrower
Acuité has been requesting for No Default Statements (NDS); however, despite multiple requests; the Company’s management has remained non-cooperative and not submitted the NDS for the preceding 03 consecutive months. 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 Sensitivities
Potential triggers (individual or collective) for an upward rating action:
"No information provided by the issuer / available for Acuite to comment upon."
Potential triggers (individual or collective) for a downward rating action:
"No information provided by the issuer / available for Acuite to comment upon."
Liquidity Position
"No information provided by the issuer / available for Acuite to comment upon."
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
Federal Bank Limited
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
5.00
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
AXIS BANK LIMITED
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.00
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
Federal Bank Limited
Not avl. / Not appl.
Derivative Exposure
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.00
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
Union Bank of India
Not avl. / Not appl.
Forward Contracts
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.60
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
Federal Bank Limited
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
30.00
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
Federal Bank Limited
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
10.00
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
AXIS BANK LIMITED
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
22.00
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
Union Bank of India
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
65.00
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
Not Applicable
Not avl. / Not appl.
Proposed Long Term Bank Facility
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
2.00
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
* 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.
*Annexure 2 - List of Entities (applicable for Consolidation or Parent / Group / Govt. Support)
