* 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 D’ (read as ACUITE D) and the Short-term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs. 27.30 Cr. bank facilities of Sigma C Infrastructure Private Limited (SCIPL). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
About the Company
The Kolkata-based Sigma C Infrastructure Private Limited was established as a proprietorship firm in 1993 by Mr. A K Bhasin (Chairman) and reconstituted as a private limited company in September 2012. The company is engaged in the execution of turnkey contracts for the power industry. It undertakes supply, erection, testing, and installation of equipments, auxiliaries, motors for generating stations and switch yards apart from civil work. SCIPL is also engaged in the underground laying of cables and jointing works, installation of third rail and traction substations for Metro Railways. Additionally, it has also diversified into water distribution and drainage projects in Assam.
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:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
"No information provided by the issuer / available for Acuite to comment upon."
* 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
Union Bank of India
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
19.00
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
Punjab National Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
7.50
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Long Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.80
Simple
ACUITE D | 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.
