* 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) and the short term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs. 17.50 Cr. bank facilities of Leander Commerce LLP. The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information
About the Company
Leander Commerce LLP (LCLP) is a limited liability partnership firm based out of Mumbai (Maharashtra). The firm was established in November 2016 and commenced operations in March, 2018. The firm is engaged in trading of agro commodities, edible oils, spices, and paper & paper products. LCLP was promoted by Mr. Amith Jain and Mr. Abhinandan Jain. Mr Amith Jain has gained experience of over a decade in agro commodity industry.
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
About the Rated Entity - Key Financials
The rated entity has not shared the latest financial statements despite repeated requests.
Rating Sensitivity
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
ACUITE D
(Downgraded & Issuer not co-operating* from ACUITE B-)
Letter of Credit
Short Term
12.50
ACUITE D
(Downgraded & Issuer not co-operating* from ACUITE A4)
30 Mar 2023
Letter of Credit
Short Term
12.50
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
5.00
ACUITE B-
(Reaffirmed & Issuer not co-operating*)
* 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
Union Bank of India
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
5.00
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
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.
12.50
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.
