ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
-
RBI
Total Outstanding
0.00
0.00
-
-
-
Total Withdrawn
0.00
62.63
-
-
-
* 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
Acuite has withdrawn its long-term rating on Rs. 62.63 Cr. bank facilities of Mysmart Indulink Private Limited (MIPL) without assigning any rating as the instruments are fully repaid. The rating has been withdrawn on account of the request received from the issuer and No Dues Certificate received from the lender.
The rating withdrawal is in accordance with Acuite’s policy on withdrawal of rating as applicable to the respective facility / instrument. Further, the rating is now flagged as “Issuer Not-Cooperating” on account of information risk and is based on the best available information.
About the Company
Mysmart Indulink Private Limited (MIPL) was incorporated on 2nd February 2022, with the objective of carrying out business activities related to the manufacturing of absolute alcohol (ethanol), rectified spirit, and extra neutral alcohol. The company is setting up a 45 KLPD grain-based distillery plant along with a 1.2 MW co-generation power plant. The manufacturing unit is located at Plot No. G-38, MIDC Industrial Area, Gadhinglaj, Kolhapur, Maharashtra.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower
Acuité has been requesting for latest financials and latest No Default Statement from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information. 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 Sensitivities
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ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
BANK OF INDIA
Not avl. / Not appl.
Term Loan
Unlisted
RBI
25 Mar 2025
Not avl. / Not appl.
24 Mar 2035
51.63
Simple
ACUITE Not Applicable | Withdrawn | 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.
