Mahavir Trading Company (MTC) promoted by Mr. Nilesh Savla and his wife, Mrs. Bharti Savla commenced its operations with the establishment in 2011. The firm is engaged in the trading of Cashews (95 percent) and balance is Almonds and Pistachio. Cashews for trading are procured from Mahavir Cashew Industries Sister concern (35- 40 percent) and the balance is procured from all over India. The customers are primarily the wholesalers, retailers and sweet manufacturers spread across Maharashtra and Gujarat. MTC supplies cashews in the Domestic market via network of Brokers with Dmart being its major customer.

­The group promoted by Mr. Nilesh Savla and his wife, Mrs. Bharti Savla, later on in February, 2016 Mahavir Cashew Industries was set up as a partnership firm headed by Mr. Nilesh Savla, Mrs. Bharti Savla and Mr. Piyush Gogri. The firm is engaged in the processing of cashew kernels. Its partners Mr. Nilesh Savla and Mrs. Bharti Savla have been in the business of trading cashews since the past 7 years. The firm has two units located at Sawantwadi in Sindhudurg (Maharashtra) and PO Halkarni at Chandgarh District in Kolhapur (Maharashtra). The total capacity of both the units is 12 tons of raw nuts per day and 3.5 tons of finished cashew nuts perday.

­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.

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.­

­"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

Not Applicable­

­Not Applicable

None

­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.