* 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
Acuité has reaffirmed the long-term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs. 23.80 crore bank facilities of Kissan Riceland Private Limited (Erstwhile Kissan Rice Mill). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
About the Company
Kissan Riceland Private Limited (Erstwhile Kissan Rice Mill) was established in 1984 as a proprietorship firm called Kissan Rice Mill. The constitution was later changed to a private limited company by the name of Kissan Riceland Private Limited, in 2016. The company is engaged in milling, processing and trading of basmati and non-basmati rice and later converted by Mr. Nand Kishore Jindal, Mr. Madhur Jindal and Ms. Nidhi Jindal. The company is engaged in the manufacturing and export of suiting, shirting and fabrics at Bhilwara, Rajasthan. The Current Directors of Kissan Riceland Private Limited are Mr Sushil Kumar, Mr Tarsem Chand and Mr Ashok Garg. The Registered office of the company is located at Kaithal, Haryana.
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 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 Sensitivity
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
"No information provided by the issuer / available for Acuite to comment upon."
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
State Bank of India
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
20.00
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Working Capital Demand Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.23
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
State Bank of India
Not avl. / Not appl.
Stand By Line of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.00
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
State Bank of India
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.57
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
* 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.
