ACUITE BB- | Downgraded | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
0.50
-
ACUITE A4+ | Reaffirmed | Issuer not co-operating*
RBI
Total Outstanding
0.00
46.75
-
-
-
Total Withdrawn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) and reaffirmed the short-term rating of 'ACUITE A4+' (read as ACUITE A Four Plus) on Rs. 46.75 Cr. bank facilities of J and K Vehicleades Private Limited.
The rating is now flagged as “Issuer Not-Cooperating” and is based on the best information available. The rating is downgraded on account of information risk.
About the Company
J and K Vehicleades Private Limited is a Private Company incorporated in 2001. It is classified as Non-Government Company and is registered at Registrar of Companies, Jammu. The present directors of the company are Mrs. Gunjan Rana, Ms. Ketki Rana. The company is an authorized dealer for the sale of passenger vehicles of Maruti Suzuki India Limited and is engaged in the sale of passenger vehicles, servicing of vehicles and sale of spare parts in Udhampur region.
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 noncooperation 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+ | Reaffirmed | Issuer not co-operating*
Punjab and Sind Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
32.50
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB )
State Bank of India
Not avl. / Not appl.
Channel/Dealer/Vendor Financing
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
10.00
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB )
State Bank of India
Not avl. / Not appl.
Covid Emergency Line.
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
31 Jan 2027
0.86
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB )
Punjab and Sind Bank
Not avl. / Not appl.
Covid Emergency Line.
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
28 Feb 2027
0.19
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB )
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.
2.70
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.
