­Incorporated in 2007, M/s. Pinnacle Resorts Private Limited (PRPL) is engaged in the hotel business in Gulmarg, Jammu and Kashmir. PRPL is part of the ‘Khyber Group’, in Jammu and Kashmir. The Khyber” is the only 5 star Ski-resort property in Gulmarg, located at an elevat ion of 8,825 ft . in the Pir Panjal range of the Himalayas. The company started its commercial operations in December, 2012 under the leadership of Mr. Umar Khurshid Trumboo, Mr. Khalil Quayoom Trumboo and Mr. Yunus Quayoom Trumboo. The promoters have over a decade of experience in hospitality business. Khyber, is a preferred destination for celebrities, politicians, business tycoons and corporate houses. PRPL’s resort has been operating from the past 10 years in the luxury segment category where it has 85 rooms with occupancy level around 81% in 11MFY23 v is-à-v is 68% in FY22.

­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 co-operation 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.