­Incorporated in 2011, Karavali Ocean Products Private Limited (KOPL), part of the Karnataka-based Karavali Group is engaged in the processing and export of seafood to US, Canada, China, Thailand, Middle East, South East and Asian countries. The Company is promoted by Mr. Udaya Shetty, Mr. Lohith Kumar and Mrs. Namitha Shetty who are having over a decade of experience in the sea food industry. The processing facility/plant is located in Manoor Village in Udupi Dist. The company’s storage capacity is 1080 MT while the freezing capacity stands at 73 metric tons per day.

­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.