* 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 C’ (read as ACUITE C) and the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs.7.00 crore bank facilities of Ridings Consulting Engineers India Limited.
The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
Rationale for rating: The issuer has not shared any information, and rating continues to factor the best available information. Acuite further notes that Ridings Consulting Engineers India Limited has been compulsorily delisted by BSE with effect from August 31, 2026, due to continued non-compliance resulting in prolonged suspension of trading.
About the Company
Delhi-based, Ridings Consulting Engineers India Limited was incorporated in 1995. The company is engaged in providing services related to Geospatial Information System such as GIS mapping solutions, Sub Surface Utility Engineering Survey, Geospatial Marketing Consulting and Planning, Land Surveying, Hydrographic Survey, local searching, navigation , logistics routing , urban planning, Lida Mapping Services, among others. The company was listed on BSE SME on March 2018. Mr. Praveen Kumar Baveja, Mr. Sumit Dhadda, Mrs. Bharti Sinha are the directors of the company.
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:
No information provided by the issuer / available for Acuite to comment upon
Potential triggers (individual or collective) for a downward rating action:
No information provided by the issuer / available for Acuite to comment upon
Liquidity Position
No information provided by the issuer / available for Acuite to comment upon
ACUITE C
(Downgraded & Issuer not co-operating* from ACUITE B+)
22 May 2023
Bills Discounting
Short Term
2.50
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Bank Guarantee (BLR)
Short Term
0.60
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Proposed Bank Guarantee
Short Term
0.85
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Secured Overdraft
Long Term
3.05
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
Standard Chartered Bank
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.60
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Standard Chartered Bank
Not avl. / Not appl.
Bills Discounting
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
2.50
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Bank Guarantee
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.85
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Standard Chartered Bank
Not avl. / Not appl.
Secured Overdraft
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.05
Simple
ACUITE C | 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.
