* 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 B-’ (read as ACUITE B minus) on the Rs. 10.00 crore bank facilities of Masani A2 Milk and Manure Private Limited (MAMMPL). The rating is continues to be flagged as “Issuer Not Co-operating” and is based on the best available information.
About the Company
Masani A2 Milk and Manure Private Limited (MAMMPL) is a Siliguri based company, incorporated in the year 2020 by Mr. Amit Agarwal and Mrs. Sangeeta Poddar. MAMMPL will be one of its kind modern desi cow dairy farming project aiming to supply A2 milk which is cow milk from the Indian desi cow breeds, mainly catering to the local regions of North Bengal through the online platform of milkman.com under the brand ‘Moovana Milk’. It will be milking by automated system and packed to make it conveniently available to consumers in association with the Swedish group-DeLaval, a pioneer name in the field of Dairy Farming Technology. The company has also plans to sell the by-products like, ghee, manure and vermi-compost.
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."
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
15 Nov 2023
Proposed Long Term Loan
Long Term
10.00
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
Not Applicable
Not avl. / Not appl.
Proposed Long Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
10.00
Simple
ACUITE B- | 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.
