­Incorporated in the year 1985, JSFMPL is a Rajasthan based company. The company is promoted by Mr. Nikunj Sanghi and his family members. The Company is an authorized dealership for Mahindra and Mahindra Limited (M&M) for their passenger cars, utility vehicles, buses and trucks (except for two wheelers and tractors) and Hero MotoCorp Limited (HML) for their two wheelers. JSFMPL operates in eastern part of Rajasthan including Alwar, Karauli, Bharatpur and Dholpur.

­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 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.

­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 endeavored 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.

­The rated entity has not shared the latest financial statements despite repeated requests.

­No information provided by the issuer / available for Acuite to comment upon.

­None

­No information provided by the issuer / available for Acuite to comment upon.

­Not Applicable

­None

­Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups.

­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 www.acuite.in.