Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 0.50 - ACUITE A4 | Reaffirmed | Issuer not co-operating*
Bank Loan Ratings 8.50 ACUITE B+ | Reaffirmed | Issuer not co-operating* -
Total Outstanding Quantum (Rs. Cr) 9.00 - -
Total Withdrawn Quantum (Rs. Cr) 0.00 - -
 
Rating Rationale
­Acuité has reaffirmed the long term rating of ‘ACUITE B+’ (read as ACUITE B plus) and the short-term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs. 9.00 crore bank facilities of Vision Plus Security Control Private Limited (VPSC). The rating is flagged as "Issuer Not Co-operating” and is based on best available information.

About the Company
­VPSC, incorporated in 2011 in Delhi, by Mr. Vishal Goel and Mrs. Anuradha Goel, is engaged in the trading, installation and servicing of security systems.The company also runs nine business process outsourcing (BPO) units – five for BSNL and four for the IT department.
 
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 noncooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality.
This rating continues to be 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 rated entity has not shared the latest financial statements despite repeated requests.
 
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
• Trading Entities: https://www.acuite.in/view-rating-criteria-61.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

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
20 Jul 2021 Bank Guarantee Short Term 0.50 ACUITE A4 (Downgraded and Issuer not co-operating*)
Proposed Cash Credit Long Term 2.80 ACUITE B+ (Downgraded and Issuer not co-operating*)
Term Loan Long Term 1.20 ACUITE B+ (Downgraded and Issuer not co-operating*)
Cash Credit Long Term 4.50 ACUITE B+ (Downgraded and Issuer not co-operating*)
23 Apr 2020 Proposed Cash Credit Long Term 2.80 ACUITE BB- (Issuer not co-operating*)
Term Loan Long Term 1.20 ACUITE BB- (Issuer not co-operating*)
Cash Credit Long Term 4.50 ACUITE BB- (Issuer not co-operating*)
Bank Guarantee Short Term 0.50 ACUITE A4+ (Issuer not co-operating*)
07 Feb 2019 Bank Guarantee Short Term 0.50 ACUITE A4+ (Issuer not co-operating*)
Proposed Cash Credit Long Term 2.80 ACUITE BB- (Issuer not co-operating*)
Cash Credit Long Term 4.50 ACUITE BB- (Issuer not co-operating*)
Term Loan Long Term 1.20 ACUITE BB- (Issuer not co-operating*)
11 Dec 2017 Cash Credit Long Term 4.50 ACUITE BB- (Issuer not co-operating*)
Term Loan Long Term 1.20 ACUITE BB- (Issuer not co-operating*)
Bank Guarantee Short Term 0.50 ACUITE A4+ (Issuer not co-operating*)
Proposed Cash Credit Long Term 2.80 ACUITE BB- (Issuer not co-operating*)
19 Aug 2016 Cash Credit Long Term 4.50 ACUITE BB- | Stable (Assigned)
Term Loan Long Term 1.20 ACUITE BB- | Stable (Assigned)
Bank Guarantee Short Term 0.50 ACUITE A4+ (Assigned)
Proposed Cash Credit Long Term 2.80 ACUITE BB- | Stable (Assigned)
04 Jul 2016 Term Loan Long Term 1.20 ACUITE B | Stable (Suspended)
Cash Credit Long Term 0.50 ACUITE B | Stable (Suspended)
Bank Guarantee Short Term 1.00 ACUITE A4 (Suspended)
Bills Discounting Short Term 2.50 ACUITE A4 (Suspended)
Proposed Cash Credit Long Term 0.50 ACUITE B | Stable (Suspended)
Proposed Long Term Loan Long Term 1.00 ACUITE B | Stable (Suspended)
Proposed Bank Guarantee Short Term 1.00 ACUITE A4 (Suspended)
Proposed Bills Discounting Short Term 2.30 ACUITE A4 (Suspended)
11 Jun 2015 Term Loan Long Term 1.20 ACUITE B | Stable (Assigned)
Cash Credit Long Term 0.50 ACUITE B | Stable (Assigned)
Bank Guarantee Short Term 1.00 ACUITE A4 (Assigned)
Bills Discounting Short Term 2.50 ACUITE A4 (Assigned)
Proposed Long Term Loan Long Term 1.00 ACUITE B | Stable (Assigned)
Proposed Cash Credit Long Term 0.50 ACUITE B | Stable (Assigned)
Proposed Bank Guarantee Short Term 1.00 ACUITE A4 (Assigned)
Proposed Bills Discounting Short Term 2.30 ACUITE A4 (Assigned)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Rating
State Bank of India Not Applicable Bank Guarantee/Letter of Guarantee Not Applicable Not Applicable Not Applicable 0.50 ACUITE A4 | Reaffirmed | Issuer not co-operating*
State Bank of India Not Applicable Cash Credit Not Applicable Not Applicable Not Applicable 4.50 ACUITE B+ | Reaffirmed | Issuer not co-operating*
Not Applicable Not Applicable Proposed Cash Credit Not Applicable Not Applicable Not Applicable 2.80 ACUITE B+ | Reaffirmed | Issuer not co-operating*
State Bank of India Not Applicable Term Loan Not available Not available Not available 1.20 ACUITE B+ | Reaffirmed | Issuer not co-operating*

Contacts
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About Acuité Ratings & Research
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