­Nakoda Group of Industries Limited (NGIL), based at Nagpur, was incorporated in October 2013. The company is promoted by Mr. Pravin Choudhary, Mr. Jayesh Choudhary and Mrs. Manju Choudhary. On 18 July 2016, Nakoda Group of Industries Limited took over the running business of M/s. Navkar Processors, the sole proprietorship concern of the promoter Mr. Pravin Choudhary and subsequently business of this proprietorship concern was merged into the company. The company is engaged in processing of various fruit and vegetable products. It processes about 5000 MT vegetables and fruits in a year.

­The Nakoda group was established in 1989 by Mr. Choudhary and family, led by Mr. Pravin Choudhary and is also based out of Nagpur (Maharashtra). The group is managing five entities viz. Nakoda Group of Industries Limited (NGIL), Nakoda Fruit Products Private Limited (NFPPL), Parshvanath Overseas (PO), Parshva Food International (PFI) and Nakoda Agro Commodities Private Limited (NACPL). Incorporated in 2013, Nakoda group is engaged in manufacturing of tutti fruity (Diced Chelory) also called as 'Papaya Preserve' and canned fruit cubes which comes under the category of bakery products. The group is also engaged in processing of almonds which are imported from California and other Middle East countries by the traders in Maharashtra. Other business also includes trading of sesame seeds, clove, cutpeel murabba, karonda, daalchini and toor daal.

­­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 endeavoured 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 Acuité to comment upon.

­Not Applicable

­No information provided by the issuer / available for Acuité to comment upon.

­Not Applicable

­Not Applicable

­Not Applicable

­Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups

­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.