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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 9.66 | ACUITE B | Reaffirmed & Withdrawn | Issuer not co-operating* | - |
| Total Outstanding Quantum (Rs. Cr) | 0.00 | - | - |
| Total Withdrawn Quantum (Rs. Cr) | 9.66 | - | - |
| Rating Rationale |
| Acuité has reaffirmed & withdrawn the long term rating of ‘ACUITE B’ (read as ACUITE B) on the Rs.9.66 crore bank facilities of Shreeji Blocks Private Limited. The rating withdrawal is in accordance with the Acuité’s policy on withdrawal of rating. This rating is continues to be an indicative rating and is based on best available information. The rating is being withdrawn on account of request received from the company and NOC received from the banker. |
| About the Company |
| Shreeji Blocks Private Limited(SBPL) is incorporated in 2013 is a Nagpur-based company promoted by Mr. Lalit Patel, Mr. Chandrakant Bhadani, Mr. Mahesh Patel and others. The company is engaged in the manufacturing of autoclaved aerated concrete (AAC) blocks and has installed capacity of 200 cubic meters per day (ie. 6000 cubic meters per annum). The present directors of the company are Mr. Amrutlal Manjibhai Patel and Mr. Bhaskar Rao. The manufacturing facility is located at Nagpur, Maharashtra. |
| Non-cooperation by the issuer/borrower: |
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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 noncooperation 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: |
| 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 endeavored 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 |
| About the Rated Entity - Key Financials |
| The issuer has not provided the latest financials for Acuite to comment upon |
| Rating Sensitivity |
| No information provided by the issuer / available for Acuite to comment upon |
| Material Covenants |
| None |
| Liquidity Position |
| No information provided by the issuer / available for Acuite to comment upon |
| Outlook |
| Not Applicable |
| Other Factors affecting Rating |
| None |
| Status of non-cooperation with previous CRA |
| None. |
| Any other information |
| Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups. |
| Applicable Criteria |
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• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm |
| Note on Complexity Levels of the Rated Instrument |
| https://www.acuite.in/view-rating-criteria-55.htm |
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