ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
4.35
-
ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
RBI
Total Outstanding
0.00
0.00
-
-
-
Total Withdrawn
0.00
16.83
-
-
-
* 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Acuité has withdrawn the long-term and short-term rating on Rs. 15.48 crore bank facilities of Vaidya V and I Infrastructure Private Limited without assigning any rating as the instrument is fully repaid. The rating has been withdrawn on account of the request received from the issuer and No Dues Certificate (NDC) received from the lender.
Acuité has also withdrawn its rating on the proposed short-term bank facilities of Rs. 1.35 Cr. of Vaidya V and I Infrastructure Private Limited without assigning any rating as it is a proposed facility. The rating has been withdrawn on account of the request received from the issuer.
The rating withdrawal is in accordance with Acuité's policy on withdrawal of rating as applicable to the respective facility / instrument. The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information.
About the Company
Vaidya V And I Infrastructure Private Limited (VIPL), incorporated in 2006, is a Nagpur-based company promoted by Mr. Indira Tekade, Mr. Prashant Tekade, and Mrs. Vandana Vaidya. VIPL is engaged in the manufacture of modular furniture, steel furniture, writing boards, among others.
About the Group
Vaidya Industries (VI) is a proprietary concern established in 1996. The firm is engaged in the trading and manufacture of wooden and steel furniture. Vaidya Industries was promoted by Mr. Vivek Vaidya. Further, Vaidya V and I Infrastructure Private Limited (VIPL) incorporated in 2006 is a Nagpur-based company promoted by Mr. Indira Tekade, Mr. Prashant Tekade, Mrs. Vandana Vaidya amongt others. The operations are led by Mr. Vivek Vaidya. VIPL is engaged in the manufacture of modular furniture, steel furniture, writing boards among others.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower:
Acuité has been requesting for latest information and latest No Default Statement from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information. 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."
ACUITE A4
(Downgraded & Issuer not co-operating* from ACUITE A4+)
Proposed Short Term Bank Facility
Short Term
1.35
ACUITE A4
(Downgraded & Issuer not co-operating* from ACUITE A4+)
Cash Credit
Long Term
6.00
ACUITE B+
(Downgraded & Issuer not co-operating* from ACUITE BB-)
Term Loan
Long Term
6.48
ACUITE B+
(Downgraded & Issuer not co-operating* from ACUITE BB-)
15 Apr 2024
Bank Guarantee (BLR)
Short Term
3.00
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Proposed Short Term Bank Facility
Short Term
1.35
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
6.00
ACUITE BB-
(Reaffirmed & Issuer not co-operating*)
Term Loan
Long Term
6.48
ACUITE BB-
(Reaffirmed & Issuer not co-operating*)
20 Jan 2023
Bank Guarantee (BLR)
Short Term
3.00
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Proposed Short Term Bank Facility
Short Term
1.35
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
6.00
ACUITE BB-
(Reaffirmed & Issuer not co-operating*)
Term Loan
Long Term
6.48
ACUITE BB-
(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
BANK OF INDIA (BOI)
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.00
Simple
ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
BANK OF INDIA (BOI)
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
6.00
Simple
ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Short Term Bank Facility
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.35
Simple
ACUITE Not Applicable | Withdrawn | Issuer not co-operating*
BANK OF INDIA (BOI)
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
6.48
Simple
ACUITE Not Applicable | Withdrawn | 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.
*Annexure 2 - List of Entities (applicable for Consolidation or Parent / Group / Govt. Support)
