Kolkata based, Nandan Saha Steel Private Limited was incorporated in the year 2003 and is an authorised distributor of Tata Steel Limited (for Tata Tiscon and Tata Pravesh brands), Tata International Limited (for Tata Strider brand), Tata Pigments Limited, Samsung Mobiles and consumer electronics. It comprises of around 150 dealers for Tata Tiscon within the network across districts including North 24 Parganas, Murshidabad and Nadia. The company has its warehouse of 40,000 sqft for storage of steel in Chandpara (West Bengal). The company is promoted by Mr. Nandan Saha and his wife, Sutapa Saha. The company also deals in consumer electronics and Tech Adda, specialising in mobiles, accessories and smart gadgets and providing customer service and assistance. The brands included in this segment of business are Oppo, Vivo, Caravan, Redmi and Oromo. The company has 48 stores in total of which 42 stores are in West Bengal and 6 stores are in Odisha.

­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.

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­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.