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       T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

          Friday, December 2, 2022, Vol. 25, No. 235

                           Headlines



A U S T R A L I A

ALLFIRE PTY: First Creditors' Meeting Set for Dec. 6
DELIVEROO AUSTRALIA: Collapse Purely Economic, CEO Says
DIXON ADVISORY: Second Creditors' Meeting Set for Dec. 7
LINKS SUPPORT: Second Creditors' Meeting Set for Dec. 7
VIRTECH.COM: First Creditors' Meeting Set for Dec. 7

ZAHL HOLDINGS: First Creditors' Meeting Set for Dec. 8
[*] Only 4 WA Builders Get Help From Head Contractor Relief Scheme


C H I N A

FOSUN INTERNATIONAL: Unit Mulls Sale of Indian Drug Maker Gland


I N D I A

5 CORE ACOUSTICS: Insolvency Resolution Process Case Summary
ARCONS INFRASTRUCTURES: Insolvency Resolution Process Case Summary
ARDHENDU MONDAL: CRISIL Keeps D Debt Ratings in Not Cooperating
BRAHMAPUTRA TELE: CRISIL Keeps D Debt Ratings in Not Cooperating
DHROOV RESORTS: CRISIL Keeps D Debt Rating in Not Cooperating

EARTH INTERNATIONAL: CRISIL Keeps D Ratings in Not Cooperating
ELEGENT INFRASTRUCTURE: CRISIL Keeps D Ratings in Not Cooperating
EPYGEN BIOTECH: CRISIL Keeps D Debt Rating in Not Cooperating
FOREST VIEW: CRISIL Keeps D Debt Rating in Not Cooperating
GUDIMETLA SUNDARA: CRISIL Keeps D Debt Ratings in Not Cooperating

INDIAN SUGAR: CRISIL Keeps D Debt Ratings in Not Cooperating
JAG VIDHYA: CRISIL Keeps D Debt Ratings in Not Cooperating
KALIKA ENTERPRISE: CRISIL Keeps D Debt Ratings in Not Cooperating
KGPS MECHANICAL: CRISIL Keeps D Debt Ratings in Not Cooperating
MADAN GOPAL: CRISIL Keeps D Debt Ratings in Not Cooperating

MARKS ENTERPRISES: CRISIL Keeps D Debt Ratings in Not Cooperating
MODERN OVERSEAS: CRISIL Keeps D Debt Rating in Not Cooperating
PARAS INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating
POLE STAR: Insolvency Resolution Process Case Summary
PRO KNITS: CRISIL Keeps D Debt Ratings in Not Cooperating

RAM KRISHNA: CRISIL Keeps D Debt Ratings in Not Cooperating
RATHI HATCHERIES: CRISIL Keeps D Debt Ratings in Not Cooperating
RENAISSANCE CORPORATION: Liquidation Process Case Summary
SANNIDHI FOODS: CRISIL Keeps D Debt Ratings in Not Cooperating
SATYA MEGHA: CRISIL Keeps D Debt Ratings in Not Cooperating

SS ALUMINIUM: CRISIL Keeps D Debt Ratings in Not Cooperating
STAR REALCON: CRISIL Keeps D Debt Ratings in Not Cooperating
STEELERA ENGINEERS: Insolvency Resolution Process Case Summary
SUSEE PREMIUM: CRISIL Lowers Rating on INR4.75cr Loan to D
SWASTIK ISPAT: CRISIL Keeps D Debt Ratings in Not Cooperating

T. R. POLYPET: CRISIL Keeps D Debt Rating in Not Cooperating
TACTIVE SOFTWARE: CRISIL Keeps D Debt Ratings in Not Cooperating
TAKSHA SPACES: Insolvency Resolution Process Case Summary
TILAK EXPORTS: CRISIL Keeps D Debt Ratings in Not Cooperating
TMA INFRASTRUCTURE: CRISIL Cuts Long/Short Term Debt Rating to D

TROPICAL COATINGS: CRISIL Keeps D Debt Ratings in Not Cooperating
UDAY AUTOLINK: CRISIL Keeps D Debt Ratings in Not Cooperating
VARDHMAN INDUSTRIAL: Insolvency Resolution Process Case Summary
VENKATESHWARA SHIKSHAN: CRISIL Keeps D Ratings in Not Cooperating
VENUS GARMENTS: Insolvency Resolution Process Case Summary

WEAVERLY JUTE: Insolvency Resolution Process Case Summary
YASH CONSTRUCTION: CRISIL Keeps D Debt Ratings in Not Cooperating


J A P A N

FTX TRADING: Japan Unit Drafts Plan to Return Client Funds


M A L A Y S I A

IREKA CORP: Looks for New Partners for Development Initiatives


N E W   Z E A L A N D

GEOFF WILSON: Creditors' Proofs of Debt Due on Dec. 19
KOTUKU CAPITAL: Court to Hear Wind-Up Petition on Dec. 8
NZ LIVING: Creditors' Proofs of Debt Due on Jan. 10
PODULAR HOUSING: Creditors' Proofs of Debt Due on Jan. 9
WHYTE CAPITAL: Court to Hear Wind-Up Petition on Dec. 8



S I N G A P O R E

FUCOM CONSTRUCTION: Court Enters Wind-Up Order
HYFLUX LTD: Seeks SGD684.6MM from KPMG for Alleged Negligence
VEEV INTERACTIVE: Creditors' Meetings Set for Dec. 19
VISIONAIRS IN ART: Court to Hear Wind-Up Petition on Dec. 16


X X X X X X X X

[*] Ashurst Taps Lance Jiang as Partner for Restructuring

                           - - - - -


=================
A U S T R A L I A
=================

ALLFIRE PTY: First Creditors' Meeting Set for Dec. 6
----------------------------------------------------
A first meeting of the creditors in the proceedings of Allfire Pty
Ltd will be held on Dec. 6, 2022, at 11:00 a.m. at the offices of
Cor Cordis at Level 29, 360 Collins Street in Melbourne and via
virtual meeting technology.

Daniel Peter Juratowitch and Sam Kaso of Cor Cordis were appointed
as administrators of the company on Nov. 24, 2022.


DELIVEROO AUSTRALIA: Collapse Purely Economic, CEO Says
-------------------------------------------------------
Brisbane Times reports that Deliveroo Australia's chief executive
told creditors the food delivery company had no viable path to
profitability as riders, drivers, restaurant operators and
customers await a second creditor's meeting to determine whether
they will receive further compensation.

In his first remarks since the collapse of Deliveroo's local
operations, Australian CEO Ed McManus said the food delivery
service's parent company had lost confidence that it would be able
to recapture market share amid fierce competition from Uber,
DoorDash and Menulog, Brisbane Times relates.

"This [decision to exit] has been based purely on economic
grounds," the report quotes Mr. McManus as saying at the first
creditors meeting on Nov. 28.

"Deliveroo has clear profitability targets to reach as a group and
therefore has to ensure it's operating in markets where it has a
path to reach a strong, lasting leadership position ... and
investing in areas where it has the potential to reach
profitability at scale.

"Unfortunately, that is not the case in Australia."

According to Brisbane Times, the UK-headquartered group's decision
was not a reflection on the work of the Australian team, Mr.
McManus added, but was taken as there "isn't a path to sustainable
and profitable growth in Australia" without significant investment
and uncertain returns. Australia was contributing just 3 per cent
to the UK-listed company's total gross transaction value.

"It's important to underline that keeping the entity operational in
a loss-making market longer than we wanted was something the group
wanted to avoid and would have extended the period of uncertainty
for employees and others," he said.

Deliveroo abruptly ceased operations on Nov. 16 but promised
compensation for it 150 staffers and 14,000 riders. KordaMentha
have been appointed as voluntary administrators, Brisbane Times
notes.

Brisbane Times says former employees will have higher priority in
the administrative process than drivers, who are contractors and
considered "unsecured creditors".

Deliveroo Australia staff received an initial compensation payment
just before operations shut down, while all riders who made a
delivery in the last three months have received two weeks worth of
pay.

As part of the voluntary administration process, Deliveroo will put
forward a Deed of Company Arrangement (DOCA), a proposal that lays
out how the company's affairs and assets will be dealt with.
KordaMentha will assess the DOCA and provide a report containing a
recommendation on whether to accept the DOCA ahead of the second
creditors' report in December, according to Brisbane Times.

In a document to creditors seen by Brisbane Times, Deliveroo
revealed further details about how it intended to compensate
employees, riders, and restaurant partners.

Former employees are eligible to receive a second severance package
that includes a statutory redundancy payment, even if they were
employed for less than a year at Deliveroo, as well as a prorated
company bonus, Brisbane Times discloses.

Under the DOCA, riders are eligible to receive a second payment
that is equivalent to two weeks' pay, while restaurant partners
that partnered exclusively with Deliveroo are also up for
compensation.

However, riders and restaurant partners will not receive this
second tranche of payments if more than 50 per cent of creditors
vote to reject Deliveroo's proposal at the second meeting in
December, Brisbane Times says.

"If the DOCA is not approved, riders [and restaurant partners] will
not receive this payment," states Deliveroo's letter to creditors
signed by Deliveroo chief people officer Caleb Merkl.

Meanwhile, customers who have unused credit or an unredeemed gift
card will also receive a full refund, pending the DOCA's approval.

Mr. McManus urged creditors to approve the proposal, Brisbane Times
notes.

"If the DOCA passes, this will mean that employees, who will soon
receive your first payment, will get your second payment more
quickly at the end of December. For riders, this will mean that you
will receive the second half of the four-week compensation package
being offered to you," Mr. McManus said.

"For our eligible restaurant and grocery partners, and for eligible
customers, this will mean that you will receive the compensation
that is owed to you."

Andrew Knight, Michael Korda, and Craig Shepard of KordaMentha were
appointed as administrators of the company on Nov. 16, 2022.


DIXON ADVISORY: Second Creditors' Meeting Set for Dec. 7
--------------------------------------------------------
A second meeting of creditors in the proceedings of Dixon Advisory
& Superannuation Services Pty Ltd has been set for Dec. 7, 2022, at
2:30 p.m. via virtual meeting technology only.

The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Dec. 6, 2022, at 5:00 p.m.

Stephen Longley and Craig Crosbie of PricewaterhouseCoopers were
appointed as administrators of the company on Jan. 19, 2022.


LINKS SUPPORT: Second Creditors' Meeting Set for Dec. 7
-------------------------------------------------------
A second meeting of creditors in the proceedings of Links Support
and Consulting Services Pty Ltd has been set for Dec. 7, 2022, at
2:00 p.m. via Microsoft Teams.
  
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Dec. 6, 2022, at 4:00 p.m.

Brett Orzel and Jeremy Nipps of Cor Cordis were appointed as
administrators of the company on Nov. 3, 2022.


VIRTECH.COM: First Creditors' Meeting Set for Dec. 7
----------------------------------------------------
A first meeting of the creditors in the proceedings of
Virtech.Com.Au and Require.Net.Au Pty Ltd will be held on Dec. 7,
2022 at 10:00 a.m. and 11:00 a.m. respectively, via Zoom
teleconference facilities.

Mitchell Ball and David Hurst of Mackay Goodwin were appointed as
administrators of the company on Nov. 25, 2022.


ZAHL HOLDINGS: First Creditors' Meeting Set for Dec. 8
------------------------------------------------------
A first meeting of the creditors in the proceedings of Zahl
Holdings Pty Ltd will be held on Dec. 8, 2022, at 11:00 a.m. via
Microsoft Teams.

Joshua Philip Taylor of Taylor Insolvency was appointed as
administrator of the company on Nov. 28, 2022.


[*] Only 4 WA Builders Get Help From Head Contractor Relief Scheme
------------------------------------------------------------------
The West Australian reports that only four builders have received
funds through the State Government's $30 million Head Contractor
Relief Scheme since it was introduced six months ago.

While the State Government will not reveal recipients, it is
understood FIRM Construction did not receive funds from the scheme
before it called in administrators last week, the report says.

According to the report, figures revealed in Parliament show a
further 16 claims are currently being assessed.

The package was announced in early May to assist head contractors
with rising costs on Department of Finance and Department of
Communities projects, in the event of unforeseen supply chain
impacts, The West Australian recalls.

The West Australian says FIRM Construction is the latest builder to
reveal it is teetering on the brink, after it was last week pulled
off two government jobs - Wellard Village Primary School and a $30
million Metronet contract - over slow progress.

Director Mark O'Gorman last week blamed the company's problems on
COVID-19, supply chain issues, labour shortages and material price
rises.

Both he and co-director Simon Linklater are selling their homes to
help pay sub contractors and suppliers, the report relays.

The West Australian adds that shadow housing minister Steve Martin
said while thorough scrutiny of each publicly funded claim was
expected, he maintained the State Government was not doing enough -
quickly enough - to help builders.




=========
C H I N A
=========

FOSUN INTERNATIONAL: Unit Mulls Sale of Indian Drug Maker Gland
---------------------------------------------------------------
Bloomberg News reports that billionaire Guo Guangchang's Shanghai
Fosun Pharmaceutical Group Co. is considering a sale of Indian
drugmaker Gland Pharma Ltd. after receiving interest from potential
buyers, people familiar with the matter said.

Bloomberg relates that Fosun Pharma, a listed arm of Chinese
conglomerate Fosun International Ltd., has been working with an
adviser as it informally gauges interest in its controlling stake
in Gland, the people said. Companies in the industry and buyout
firms are in the early stages of studying the business, the people
said, asking not to be identified because the matter is private.

Shares of Gland jumped as much as 5.7% in Mumbai following the
Bloomberg News report, their largest intraday increase in almost a
month. They have fallen about 53% this year, giving the company a
market value of $3.6 billion. Fosun Pharma shares in Hong Kong rose
as much as 5.4%.

Hyderabad-based Gland specializes in injectable drugs such as
antibiotics, oncology and cardiology treatments and has a presence
in about 60 countries, according to its website.

A sale would help Gland's Chinese owner raise cash as the
once-acquisitive group seeks to shore up its balance sheet. Fosun
International has been exploring options for a number of assets,
including French resort operator Club Med and some domestic food
and beverage operations, Bloomberg News has reported.

According to Bloomberg, Fosun Pharma's high valuation expectations
could present a hurdle to any potential deal amid a tough financing
environment, the people said. It hasn't kicked off a formal sale
process, and there's no certainty the deliberations will lead to a
transaction, the people said.

Fosun Pharma acquired a 74% stake in Gland for about $1.1 billion
in 2017 from an investor group including KKR & Co. It listed the
business three years later in an $873 million initial public
offering in Mumbai, according to data compiled by Bloomberg.

                      About Fosun International

Fosun International Limited provides diversified services. The
Company offers products and services for families in health,
happiness, and wealth businesses. Fosun International serves
clients worldwide.

As recently reported in the Troubled Company Reporter-Asia Pacific,
Moody's Investors Service has downgraded to B2 from B1 the
corporate family rating of Fosun International Limited. At the same
time, Moody's has also downgraded to B2 from B1 the senior
unsecured bonds issued by Fortune Star (BVI) Limited and
unconditionally and irrevocably guaranteed by Fosun. Moody's has
changed the outlook on all ratings to negative from ratings under
review. This concludes the review for downgrade initiated on
September 30, 2022.

"The downgrade reflects Fosun's weak liquidity, recent fast and
significant decline of the market value of its listed assets which
erodes its funding headroom, and the execution risk related to the
company's fundraising plans amid capital market volatility and
prevalent risk averse sentiment. Moody's are also concerned that
accelerated divestments or pledge of good quality assets will lead
to a faster-than-expected weakening of Fosun's portfolio size and
quality, as well as its financial flexibility, which no longer
supports its previous B1 rating," says Lina Choi, a Moody's Senior
Vice President.

The negative outlook reflects the refinancing uncertainties and
execution risks of asset sales to repay Fosun's sizable debt
maturing over the next 12 months, and the company's ongoing
challenges in balancing liquidity needs and maintaining its
investment portfolio quality.




=========
I N D I A
=========

5 CORE ACOUSTICS: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: 5 Core Acoustics Private Limited
        WZ-15B, Uggarsain Market
        Ashok Nagar New Delhi 110018
        IN

Insolvency Commencement Date: November 22, 2022

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: May 15, 2023

Insolvency professional: Radhey Shyam Yadav

Interim Resolution
Professional:            Radhey Shyam Yadav
                         Flat No. 2, Aakriti Aptts
                         62 IP Extn, Patparganj
                         East, National Capital Territory of Delhi
                         110092
                         E-mail: rsyadav01@gmail.com

                            - and -

                         1203, Vijaya Building
                         17, Barakhamba Road
                         Connaught Place
                         New Delhi 110001
                         E-mail: ip.5coreapl@gmail.com

Last date for
submission of claims:    December 6, 2022


ARCONS INFRASTRUCTURES: Insolvency Resolution Process Case Summary
------------------------------------------------------------------
Debtor: Arcons Infrastructures and Constructions Private Limited
        Building No. 104 (1st Floor)
        Mangalwars Commercial Complex
        Bajaj Wing Sadar Nagpur
        MH 440001
        IN

Insolvency Commencement Date: November 18, 2022

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: May 10, 2023

Insolvency professional: Prabhakar Bhat

Interim Resolution
Professional:            Prabhakar Bhat
                         173 Udyog Bhavan
                         Sonawala Road
                         Goregaon East
                         Mumbai 400063
                         E-mail: sukkhe@gmail.com

Last date for
submission of claims:    December 2, 2022


ARDHENDU MONDAL: CRISIL Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Ardhendu
Mondal (AM) continue to be 'CRISIL D/CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)      Ratings
   ----------        -----------      -------
   Bank Guarantee        2.42         CRISIL D (Issuer Not
                                      Cooperating)
   Proposed Bank
   Guarantee             3.58         CRISIL D (Issuer Not
                                      Cooperating)
   Secured Overdraft
   Facility              6            CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with AM for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of AM, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on AM is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of AM
continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

M/s Ardhendu Mondal (AM), is a partnership firm, incorporated in
1992. The firm is promoted by Mr. Ardhendu Mondal and his family
members. AM undertakes road construction, irrigation, canal
protection and maintenance projects, in the state of west Bengal.

BRAHMAPUTRA TELE: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Brahmaputra
Tele Productions Private Limited (BTPPL) continue to be 'CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            3          CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term    10.23       CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan              6.77       CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with BTPPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of BTPPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on BTPPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
BTPPL continue to be 'CRISIL D Issuer Not Cooperating'.

BTPPL was incorporated in 2001 by Mr Jaiswal and family as Jaintia
Ispat Pvt Ltd in Assam. It was renamed as Tsang-Po Smelter Pvt Ltd
in 2003 and got its present name in 2006. BTPPL operates a 24-hour
free-to-air (FTA) satellite news channel, DY365, in Assamese. The
company launched an FTA general entertainment channel, Jonak, in
October 2014.


DHROOV RESORTS: CRISIL Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Dhroov Resorts
(DR) continues to be 'CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Term Loan               10        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with DR for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of DR, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on DR is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of DR
continue to be 'CRISIL D Issuer Not Cooperating'.

DR operates a single hotel located at Lakkar Bazaar, Shimla
Himachal Pradesh. The hotel began its commercial operations from
June 10, 2017. DR is owned & managed by Mr. Balbir Singh Verma.


EARTH INTERNATIONAL: CRISIL Keeps D Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Earth
International Private Limited (EIPL) continue to be 'CRISIL
D/CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            2.5        CRISIL D (Issuer Not
                                     Cooperating)

   Packing Credit         2.5        CRISIL D (Issuer Not
                                     Cooperating)
   Proposed Fund-
   Based Bank Limits      2.5        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with EIPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of EIPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on EIPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
EIPL continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

EIPL was incorporated in 1996 by Mr.B K Jain. EIPL is engaged in
the manufacturing of nanoclay, exothermic riser sleeves, bentonite,
quartz powder, feldspar powder, mica powder and hydrogel which find
applications in oil-well industries, foundries, civil construction,
ceramic sanitary wares and in agriculture. The company's
manufacturing facility is based in Gujarat and Neemrana
(Rajasthan).


ELEGENT INFRASTRUCTURE: CRISIL Keeps D Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Elegent
Infrastructure Private Limited (EIPL) continue to be 'CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Long Term Loan         10         CRISIL D (Issuer Not
                                     Cooperating)

   Term Loan              15         CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with EIPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of EIPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on EIPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
EIPL continue to be 'CRISIL D Issuer Not Cooperating'.

Elegent Infrastructure P Ltd. (EIPL), incorporated in 2005 by Mr.
Mahender Arora, Mr. Sunil Chutani and Mr. Pradeep Bajaj is engaged
in real estate development. The company is currently developing a
residential project in name of 'Terra Elegance' at Bhiwadi
(Rajasthan).


EPYGEN BIOTECH: CRISIL Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Epygen Biotech
Private Limited (EBPL) continues to be 'CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Term Loan              25        CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with EBPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of EBPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on EBPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
EBPL continue to be 'CRISIL D Issuer Not Cooperating'.

Incorporated in 2011, EBPL is setting up a manufacturing facility
for producing the life-saving thrombolytic enzyme drug- Recombinant
- Streptokinase for the cardiovascular market. The company was
incorporated by Mr Debayan Sukhamoy Ghosh and Mr Ineeyan
Ariyaratnam. The manufacturing facility has been set up at
Patalganga, Maharashtra and the incubation center is located at
Navi Mumbai.


FOREST VIEW: CRISIL Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Forest View
Resort (FVR) continues to be 'CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Term Loan                8        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with FVR for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of FVR, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on FVR
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
FVR continue to be 'CRISIL D Issuer Not Cooperating'.

FVR is a proprietorship concern of Mr Deepanshu Gautam. The firm
has a resort, De Exotica Crest Resort and Spa, at Theoug, 28
kilometre from Shimla. The resort has 16 luxury rooms, a banquet
hall and bar, restaurant facilities. The resort offer sports
facilities like Pool Table, Snooker Table, Mini Golf, Swings,
Archery, Sea-Saw, Mountain Bikes, Motor Bike among others. The
resort is located close to Shimla which is a key tourist
destination in the country.


GUDIMETLA SUNDARA: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Gudimetla
Sundara Rami Reddy & Co (GSRR) continue to be 'CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            10         CRISIL D (Issuer Not
                                     Cooperating)

   Cash Credit            15         CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with GSRR for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of GSRR, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on GSRR
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
GSRR continue to be 'CRISIL D Issuer Not Cooperating'.

Set up as a partnership firm in 1985, GSRR mills and processes
paddy into rice, and produces by-products such as broken rice,
bran, and husk. Its rice milling unit is in West Godavari (Andhra
Pradesh). Mr Gudimetla Rama Krishna, Mr Gudimetla Tulasi, Mr
Gudimetla Nagamani, and Mr Gudimetla Sundara Rami Reddy are the
partners.


INDIAN SUGAR: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Indian Sugar
Manufacturing Company Limited (ISMCL) continue to be 'CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)   Ratings
   ----------        -----------   -------
   Cash Credit           27.41     CRISIL D (Issuer Not
                                   Cooperating)

   Cash Credit            1.80     CRISIL D (Issuer Not
                                   Cooperating)

   Term Loan              4.89     CRISIL D (Issuer Not
                                   Cooperating)

   Term Loan             14.40     CRISIL D (Issuer Not
                                   Cooperating)

   Term Loan              3.79     CRISIL D (Issuer Not
                                   Cooperating)

   Term Loan             16.61     CRISIL D (Issuer Not
                                   Cooperating)

   Term Loan              4.10     CRISIL D (Issuer Not
                                   Cooperating)

CRISIL Ratings has been consistently following up with ISMCL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of ISMCL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on ISMCL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
ISMCL continue to be 'CRISIL D Issuer Not Cooperating'.

ISMCL was set up in 2000 by Dr. Veerana Pattar and his colleagues.
In January 2010, the company commissioned a sugar plant and a
bagasse-based cogeneration power plant in Bijapur (Karnataka).


JAG VIDHYA: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Jag Vidhya
and Sons Resorts and Hotels Llp (JVS) continue to be 'CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            0.5        CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term     1.0        CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan             12.5        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with JVS for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of JVS, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on JVS
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
JVS continue to be 'CRISIL D Issuer Not Cooperating'.

JVS, established in January 2014, is promoted and managed by Mr
Babjyot Singh Khanduja and his brother Mr Gurpreet Singh Khanduja.
In February 2014, the firm acquired a hotel property in Nagpur,
Maharashtra, rebranded it as Heritage Embassy, and commenced
operations in August 14. A three-star property, the hotel provides
boarding and lodging facilities, and has a restaurant-cum-bar, a
banquet hall, and an open air lawn.


KALIKA ENTERPRISE: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Kalika
Enterprise (KE) continue to be 'CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            9.5        CRISIL D (Issuer Not
                                     Cooperating)

   Funded Interest        2          CRISIL D (Issuer Not
   Term Loan                         Cooperating)

CRISIL Ratings has been consistently following up with KE for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of KE, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on KE is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of KE
continues to be 'CRISIL D Issuer Not Cooperating'.

KE was set up as a partnership firm in 1997. The firm undertook
trading of coal and coke in Durgapur. Currently, the business is
currently not operational, due to unavailability of coal and coke
at a viable price.


KGPS MECHANICAL: CRISIL Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of KGPS
Mechanical Private Limited (KGPS) continue to be 'CRISIL D/CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Bank Guarantee       2.5         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit          5.24        CRISIL D (Issuer Not
                                    Cooperating)

   Proposed Long Term   2.26        CRISIL D (Issuer Not
   Bank Loan Facility               Cooperating)

CRISIL Ratings has been consistently following up with KGPS for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of KGPS, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on KGPS
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
KGPS continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

Gujarat-based, KGPS undertakes mechanical fabrication work for
tanks, structures, and piping, and material handling for industries
such as petroleum and chemicals, cement, and fast moving consumer
goods (FMCG). KGPS is promoted by Mr Subramanian Pachat and Mr
Santhosh Pachat.


MADAN GOPAL: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Sri Madan
Gopal Bhikam Chand Marketing Private Limited (MGB) continue to be
'CRISIL D/CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            2          CRISIL D (Issuer Not
                                     Cooperating)

   Foreign Bill           6          CRISIL D (Issuer Not
   Purchase                          Cooperating)

   Packing Credit         4          CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with MGB for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of MGB, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on MGB
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
MGB continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

MGB, incorporated in 2006, is promoted by Mr. Rajesh Mall and is
based in Jaipur. It trades in and exports agricultural products,
such as spices, animal feeds, and herbs. It also trades in lac,
used in bangles and paints, in the domestic market. Its directors
are Mr. Rajesh Mall and Mrs. Kusum Mall.


MARKS ENTERPRISES: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Marks
Enterprises Private Limited (MEPL) continue to be 'CRISIL D/CRISIL
D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit           1.75        CRISIL D (Issuer Not
                                     Cooperating)

   Cash Credit           0.25        CRISIL D (Issuer Not
                                     Cooperating)

   Letter of Credit      7           CRISIL D (Issuer Not
                                     Cooperating)

   Letter of Credit      0.75        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with MEPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of MEPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on MEPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
MEPL continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

MEPL, incorporated in 2011 and promoted by Mr Somnath Harjai,
trades in yarn and metal (such as aluminium scrap, ingots, and
billets).


MODERN OVERSEAS: CRISIL Keeps D Debt Rating in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Modern
Overseas Private Limited (MOPL) continues to be 'CRISIL D Issuer
Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            12.5       CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with MOPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of MOPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on MOPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
MOPL continue to be 'CRISIL D Issuer Not Cooperating'.

MOPL trades in buffaloes, and is promoted by the Qureshi family,
which has over three decades' experience in the industry.
Operations are managed by Mr Naeem Qureshi and Mr Saleem Qureshi.


PARAS INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Paras
Industries continue to be 'CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Post Shipment          3.7        CRISIL D (Issuer Not
   Credit                            Cooperating)

   Pre Shipment           7.5        CRISIL D (Issuer Not
   Packing Credit                    Cooperating)

CRISIL Ratings has been consistently following up with Paras for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of Paras, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on Paras
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
Paras continue to be 'CRISIL D Issuer Not Cooperating'.

Set up as a partnership firm in 1987`, in Mumbai, Paras was owned
by the Jariwala and Shah families till March 2010. The Shah family
exited in April 2010. The firm manufactures and exports knitted
garments and accessories to departmental stores in the US.

POLE STAR: Insolvency Resolution Process Case Summary
-----------------------------------------------------
Debtor: Pole Star Enterprises Private Limited
        G Block Old no. 91/2, New No. 18/2
        10th Street Anna Nagar East
        Chennai 600102

Liquidation Commencement Date: November 16, 2022

Court: National Company Law Tribunal, Chennai Bench

Insolvency professional: Shanmugakani Saraskumar

Interim Resolution
Professional:            Shanmugakani Saraskumar
                         132A, NTR Street
                         Rangarajanpuram Main Road
                         Kodambakkam, Chennai 600024
                         Mobile: 9444011294
                         E-mail: saraskcsca@gmail.com

Last date for
submission of claims:    December 16, 2022


PRO KNITS: CRISIL Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of PRO Knits
(PK) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Bill Discounting         8        CRISIL D (Issuer Not
                                     Cooperating)

   Packing Credit          20        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with PK for
obtaining information through letters and emails dated August 29,
2022 and October 31, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of PK, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on PK is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of PK
continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

Established in 1998 by Mr. Ravi Kumar and Mrs. Mallika as a
partnership firm, Pro Knits is into manufacture and export of
readymade garments to UK and various other European countries. The
firm specializes in the manufacture of knitted garments of kids,
men, and women. The firm has a manufacturing plant in Tirpur.


RAM KRISHNA: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Ram Krishna
Tea Factory - Uttar Dinajpur (RKTF) continue to be 'CRISIL D/CRISIL
D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Bank Guarantee        0.18        CRISIL D (Issuer Not
                                     Cooperating)

   Cash Credit           2.30        CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term    0.32        CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan             2.25        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with RKTF for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of RKTF, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on RKTF
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
RKTF continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

Incorporated in September 2014 in Sonarpur Hat, RKTF is engaged in
manufacturing of CTC tea. The firm has its own processing unit with
total manufacturing capacity of 8.5 lakh kg per annum. It is
promoted by Srimati Krishna Bhagat, Mr. Sushil Bhagat, Mr. Babanlal
Bhagat, Mr. Lalan Bhagat, Mr. Panchami Bhagat and Mr. Manoj
Bhagat.


RATHI HATCHERIES: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Rathi
Hatcheries Private Limited (RHPL; part of the Rathi group) continue
to be 'CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit           6.55        CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term    0.95        CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan             4.50        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with RHPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of RHPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on RHPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
RHPL continue to be 'CRISIL D Issuer Not Cooperating'.

For arriving at its rating, CRISIL Ratings has combined the
business and financial risk profiles of RHPL, Rathi Feeds India
Pvt. Ltd. (RFPL) and Gourav Poultries India Pvt Ltd (GPPL). This is
because the companies, collectively referred to as the Rathi group
are in the same line of business, extend financial support to each
other, and have a common management.

                          About the Group

RHPL and GPPL are engaged in poultry breeding, hatching and
broiling, and RFPL in feed processing.

RHPL was set up in 2003 by the Haryana-based Mr. Krishan Rathi and
his family members as a hatchery-cum-broiler unit. It has day-old
chick breeder farms with capacity of 220,000 parent birds in Jind
Haryana).

GPPL, set up in 2012, also owns a hatchery-cum-broiler unit. It has
day-old chick breeder farms with capacity of 150,000 parent birds
in Jind.

RFPL was set up in 2008 and is a feed processing unit and meets the
group's feed requirements. The group internally consumes around 60
per cent of feed processed by RFPL and sells the balance in the
open market. Its feed processing capacity is 200 tonne per day.


RENAISSANCE CORPORATION: Liquidation Process Case Summary
---------------------------------------------------------
Debtor: Renaissance Corporation Limited
        802, Floor-8, Plot-175
        Cotton Exchange Building
        Kalbadevi Road
        Nr Cotton Exchange Bhuleshwar
        Kalbadevi Mumbai
        Mumbai City
        MH 400002
        IN

Liquidation Commencement Date: November 21, 2022

Court: National Company Law Tribunal, Mumbai Bench

Date of closure of
insolvency resolution process: October 17, 2022

Insolvency professional: Mr. Manoj Sehgal

Interim Resolution
Professional:            Mr. Manoj Sehgal
                         Flat 304, Tower 5 Ansal Valley View
                         Estate Gwal Pahadi, Gurugram
                         Haryana 122003
                         E-mail: manojsehgal_1121@yahoo.co.in
                                 renaissancecorporation.cirp@
                                 gmail.com

Last date for
submission of claims:    December 22, 2022


SANNIDHI FOODS: CRISIL Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Sree Sannidhi
Foods Private Limited (SSFPL) continue to be 'CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            1.5        CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term    17.45       CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan              5          CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with SSFPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of SSFPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on SSFPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
SSFPL continue to be 'CRISIL D Issuer Not Cooperating'.

SSFPL, incorporated in 2010 in Chittoor, was taken over by the
current management comprising Mr. Shivam Goyal and Ms. Shavya Goyal
in January 2014. The company manufactures and exports processed
fruit products; it commenced full-fledged commercial operations
from June 2014.


SATYA MEGHA: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Satya Megha
Industries (SMI) continue to be 'CRISIL D/CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            8          CRISIL D (Issuer Not
                                     Cooperating)

   Cash Term Loan         9.18       CRISIL D (Issuer Not
                                     Cooperating)

   Funded Interest        2.98       CRISIL D (Issuer Not
   Term Loan                         Cooperating)

   Proposed Short Term    2.86       CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

   Working Capital       14.18       CRISIL D (Issuer Not
   Term Loan                         Cooperating)

CRISIL Ratings has been consistently following up with SMI for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of SMI, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on SMI
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
SMI continues to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

SMI was set up as a partnership firm in Assam in August 2009 by Mr
Ratan Sharma, Mr Purushottam Murarka, and Mr Mangilal Jalan. The
firm started operations in August 2011, by manufacturing steel
billets. Partners have around two decades of experience of
manufacturing and trading in steel products, through other group
companies.


SS ALUMINIUM: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of SS Aluminium
Private Limited (SSAPL) continue to be 'CRISIL D/CRISIL D Issuer
Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Bank Guarantee        0.5         CRISIL D (Issuer Not
                                     Cooperating)

   Cash Credit           4.9         CRISIL D (Issuer Not
                                     Cooperating)

   Cash Credit           1.6         CRISIL D (Issuer Not
                                     Cooperating)

   Long Term Loan        4.42        CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term    1.92        CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with SSAPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of SSAPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on SSAPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
SSAPL continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

SSAPL, incorporated in 2013 and based in Balasore, Odisha,
manufactures aluminium extrusions for door and window frames. Mr
Jadabendra Pradhan and his wife Ms Madhusmita Pradhan manage the
operations.


STAR REALCON: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Star Realcon
Private Limited (SRPL) continue to be 'CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Proposed Long Term     0.5        CRISIL D (Issuer Not  
   Bank Loan Facility                Cooperating)

   Secured Overdraft      8.5        CRISIL D (Issuer Not
   Facility                          Cooperating)

CRISIL Ratings has been consistently following up with SRPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of SRPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on SRPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
SRPL continues to be 'CRISIL D Issuer Not Cooperating'.

SRPL was established in 2006 by Mr Nitin Kumar Gupta and his son,
Mr Goldy Gupta. The Delhi-based company undertakes civil
construction activities and real estate development projects in
Delhi, Ghaziabad, Chennai, and Rajasthan.


STEELERA ENGINEERS: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: M/s Steelera Engineers Private Limited
        Plot No. 67, Ward 2-B
        Adipur, Kachchh 370205
        IN

Insolvency Commencement Date: November 23, 2022

Court: National Company Law Tribunal, Ahmedabad Bench

Estimated date of closure of
insolvency resolution process: May 15, 2023

Insolvency professional: Malhar Rashmikant Mehta

Interim Resolution
Professional:            Malhar Rashmikant Mehta
                         404, W1
                         Opp. PSP Project House
                         Off Iscon-Ambli Road
                         Ahmedabad 380058
                         E-mail: malhar_mehta@hotmail.com

Last date for
submission of claims:    December 7, 2022


SUSEE PREMIUM: CRISIL Lowers Rating on INR4.75cr Loan to D
----------------------------------------------------------
CRISIL Ratings has downgraded its rating on the long-term bank
facilities of Susee Premium Automobiles Private Limited (SPAPL) to
'CRISIL D Issuer Not Cooperating' from 'CRISIL B/Stable Issuer Not
Cooperating' due to delays in servicing debt obligation.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit           4.75        CRISIL D (ISSUER NOT
                                     COOPERATING; Downgraded from
                                     CRISIL B/Stable ISSUER NOT
                                     COOPERATING')

   Proposed Long Term    0.25        CRISIL D (Issuer Not
   Bank Loan Facility                COOPERATING; Downgraded from
                                     CRISIL B/Stable ISSUER NOT
                                     COOPERATING')

CRISIL Ratings has been consistently following up with SPAPL for
obtaining information through letters and emails dated October 15,
2022, and August 24, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such
non-co-operation by a rated entity may be a result of deterioration
in its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of SPAPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that the rating action on
SPAPL is consistent with 'Assessing Information Adequacy Risk'

Established in 1998, SPAPL is an authorized automobile dealer for
Ford. The firm operates with one showroom in Trichy. Mr J Rajiv
Subramanian and Mr S Jeyabalan are the promoters.


SWASTIK ISPAT: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Swastik Ispat
Private Limited (SIPL) continue to be 'CRISIL D/CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Funded Interest        0.5        CRISIL D (Issuer Not  
   Term Loan                         Cooperating)

   Proposed Cash          8.5        CRISIL D (Issuer Not
   Credit Limit                      Cooperating)

   Proposed Letter        1          CRISIL D (Issuer Not
   of Credit                         Cooperating)

   Proposed Long Term     2          CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan              1.5        CRISIL D (Issuer Not
                                     Cooperating)

   Working Capital        1.5        CRISIL D (Issuer Not
   Term Loan                         Cooperating)

CRISIL Ratings has been consistently following up with SIPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of SIPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on SIPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
SIPL continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

Orissa based SIPL, incorporated in 2003, manufactures sponge iron.
Mr Rajesh Bagaria is the promoter.


T. R. POLYPET: CRISIL Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of T. R. Polypet
Industries (TRPI) continues to be 'CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit &          5.98       CRISIL D (Issuer Not
   Working Capital                   Cooperating)
   Demand Loan                                                 

CRISIL Ratings has been consistently following up with TRPI for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of TRPI, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on TRPI
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
TRPI continue to be 'CRISIL D Issuer Not Cooperating'.

TRPI is a Lucknow (Uttar Pradesh) based proprietorship firm
established in 2009 by Mr Chandra Shekhar Verma. The firm is
engaged in manufacturing of pet preform and jar which are used in
the packaging industry.


TACTIVE SOFTWARE: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Tactive
Software Systems Private Limited (TSSPL) continue to be 'CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            2          CRISIL D (Issuer Not
                                     Cooperating)

   Corporate Loan         5          CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term     0.5        CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with TSSPL for
obtaining information through letters and emails dated August 29,
2022 and October 31, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of TSSPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on TSSPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
TSSPL continue to be 'CRISIL D Issuer Not Cooperating'.

Established in March 2008 and based in Erode (Tamil Nadu), URCI
develops and maintains Enterprise resource planning (ERP) software
particularly for the construction, healthcare, Small and medium
business (SMB), entertainment, and pharmaceutical sectors. The
company is promoted by Mr. C Devarajan. The day-to-day operations
are managed by Mr. G Gunasekaran, Director.


TAKSHA SPACES: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Taksha Spaces Private Limited
        201, Dheeraj Plaza
        Opp Bandra Police Station
        Hill Road, Bandra West
        Mumbai 400050

Insolvency Commencement Date: November 25, 2022

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: May 24, 2023
                               (180 days from commencement)

Insolvency professional: Prajakta Menezes

Interim Resolution
Professional:            Prajakta Menezes
                         416, Crystal Paradise Co-op Soc. Ltd.
                         Dattaji Salvi Marg
                         Off Veera Desai Road
                         Andheri West, Mumbai 400053
                         E-mail: prajakta@prmlegal.in
                                 irp.taksha@gmail.com

Last date for
submission of claims:    December 9, 2022


TILAK EXPORTS: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Tilak Exports
(TE) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Bill Discounting       3          CRISIL D (Issuer Not
                                     Cooperating)

   Letter of Credit       2          CRISIL D (Issuer Not
                                     Cooperating)

   Packing Credit         7          CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term     0.15       CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan              3.85       CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with TE for
obtaining information through letters and emails dated August 29,
2022 and October 31, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of TE, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on TE is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of TE
continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

TE was set up as a partnership firm by Ms Manju Farsaiya in 1988,
the firm manufactures and exports ladies garments. The
manufacturing facility is located at Noida (Uttar Pradesh).


TMA INFRASTRUCTURE: CRISIL Cuts Long/Short Term Debt Rating to D
----------------------------------------------------------------
CRISIL Ratings has downgraded the ratings on the bank facilities of
TMA Infrastructure Private Limited (TMA) to 'CRISIL D/CRISIL D'
from 'CRISIL BB-Stable/CRISIL A4+'.  The ratings reflect the delays
in servicing of term debt obligations.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Long Term Rating       -          CRISIL D (Downgraded from
                                     'CRISIL BB-/Stable')

   Short Term Rating      -          CRISIL D (Downgraded from
                                     'CRISIL A4+')

The ratings continue to reflect the extensive experience of TMA's
promoters in the civil construction industry and moderate financial
risk profile. These strengths are partially off-set by its modest
scale of operations and geographical concentration in revenue

Key Rating Drivers & Detailed Description

Strengths:

* Extensive experience of the promoters and healthy relationships
with stakeholders: Presence of over 10 years in the civil
construction industry, has enabled the promoters to establish
healthy relationship with suppliers and customers. TMA has a strong
track record of executing and completing irrigation projects on
time. As a result, operating margin continues to be healthy.

* Moderate financial risk profile: Financial risk profile remains
moderate, with estimated net worth of INR16.95 crore and moderate
gearing of 0.42 times as on March 31, 2021. Debt protection metrics
are also moderate with interest coverage and net cash accrual to
total debt ratios at 2.48 and 0.15 times, respectively, in fiscal
2021.

Weakness:

* Modest scale of operations and geographical concentration: TMA is
a small-sized player in the civil construction business, with
revenue estimated at INR73 crore in fiscal 2021. Orders of about
INR100 crore, however, await execution and support revenue
visibility for the next 12-18 months. Regional concentration in
operations—with revenue derived entirely from Tamil Nadu—also
result in fluctuating revenue.

Liquidity: Poor

Liquidity is poor as reflected in delays in repayment of term debt
obligations.

Rating Sensitivity factors

Upward factors:

* Track record of timely debt servicing for at least over 90 days

* Sustained improvement in scale of operations by 20% and operating
margins at over 10%, leading to higher cash accruals

* Improvement in working capital cycle with GCA days improving to
less than 100.

TMA was set up in 1989 as a proprietorship firm and was
reconstituted as a private limited company in It executes civil
contracts for the highway department, PWD, and municipality of
Tiruvarur in Tamil Operations are managed by Mr T Manoharan.


TROPICAL COATINGS: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Tropical
Coatings International Private Limited (TCIPL) continue to be
'CRISIL D/CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Bank Guarantee         1          CRISIL D (Issuer Not
                                     Cooperating)

   Cash Credit            1.57       CRISIL D (Issuer Not
                                     Cooperating)

   Letter of Credit       0.36       CRISIL D (Issuer Not
                                     Cooperating)

   Term Loan              6.2        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with TCIPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of TCIPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on TCIPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
TCIPL continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

Established in 2012, TCIPL manufactures waterproofing membranes and
allied products at Vishakapatnam. Operations are managed by Mr
Ravindranath.


UDAY AUTOLINK: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Uday Autolink
Private Limited (UAPL) continue to be 'CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Drop Line               8         CRISIL D (Issuer Not
   Overdraft                         Cooperating)
   Facility                
                              
   Electronic Dealer       6         CRISIL D (Issuer Not
   Financing Scheme                  Cooperating)
   (e-DFS)                 

   Term Loan              24.8       CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with UAPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of UAPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on UAPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
UAPL continue to be 'CRISIL D Issuer Not Cooperating'.

UAPL set up in 2012, is an authorized dealer for Maruti Suzuki
India Ltd (MSIL). UAPL operates a 50,000-square-foot sales,
services and spares (3S) showroom in eastern Ahmedabad. The
operations are managed by the promoters, Mr. Uday Bhatt, his
brother, Mr. Nilesh Bhatt, and son, Mr. Hemant Bhatt.


VARDHMAN INDUSTRIAL: Insolvency Resolution Process Case Summary
---------------------------------------------------------------
Debtor: Vardhman Industrial Steel Private Limited
        Shop No. 15-16, Mama Chowk MIE Part-A
        National Highway-10
        Bahadurgah 124507
        Haryana

Insolvency Commencement Date: November 26, 2022

Court: National Company Law Tribunal, Chandigarh Bench

Estimated date of closure of
insolvency resolution process: May 25, 2023
                               (180 days from commencement)

Insolvency professional: Mr. Arvind Kumar

Interim Resolution
Professional:            Mr. Arvind Kumar
                         ADR & CO., B-321
                         Second Floor, Nehru Ground
                         NIT, Faridabad
                         Haryana 121001
                         E-mail: caarvindchauhan@gmail.com

                            - and -

                         405 New Delhi House
                         27 Barakhamba Road
                         Connaught Place
                         New Delhi 110001
                         E-mail: cirp.vardhmanindustrialsteel@
                                 gmail.com

Last date for
submission of claims:    December 10, 2022


VENKATESHWARA SHIKSHAN: CRISIL Keeps D Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Shree
Venkateshwara Shikshan Sanstha (SVSS) continue to be 'CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Term Loan            11.38        CRISIL D (Issuer Not
                                     Cooperating)

   Term Loan             4           CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with SVSS for
obtaining information through letters and emails dated August 29,
2022 and October 31, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of SVSS, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on SVSS
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
SVSS continue to be 'CRISIL D Issuer Not Cooperating'.

Set up in 2000, SVSS operates multiple institutes offering courses
in engineering, and management, and education, among others. It
also operates an English medium school and two charitable schools.


VENUS GARMENTS: Insolvency Resolution Process Case Summary
----------------------------------------------------------
Debtor: Venus Garments (India) Limited
        Village Hussainpura
        Opp Hotel Amaltas
        G.T. Road (West)
        Ludhiana 141008

Insolvency Commencement Date: November 25, 2022

Court: National Company Law Tribunal, Chandigarh Bench

Estimated date of closure of
insolvency resolution process: May 24, 2023
                               (180 days from commencement)

Insolvency professional: CA Navneet Gupta

Interim Resolution
Professional:            CA Navneet Gupta
                         #1598, Level 1
                         Sector 22-B
                         Chandigarh 160022
                         E-mail: navguptaca@gmail.com
                                 venus.cirp@gmail.com

Last date for
submission of claims:    December 9, 2022


WEAVERLY JUTE: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Weaverly Jute Mills Private Limited
        5, Clive Row 2nd Floor
        Room No. 51
        Kolkata 700001
        West Bengal IN

Insolvency Commencement Date: November 15, 2022

Court: National Company Law Tribunal, Kolkata Bench

Estimated date of closure of
insolvency resolution process: May 14, 2023

Insolvency professional: CA Swarup Ghosh

Interim Resolution
Professional:            CA Swarup Ghosh
                         53C/4, Dr Suresh Chandra Banerjee Road
                         Bellaghata, Kolkata 700010
                         West Bengal, India
                         E-mail: swarupghosh1@yahoo.co.in

                            - and -

                         1716, Rajdanga Main Road
                         Block EF-4, BEACON Building
                         Opposite P. Majumdar Haltu Bridge
                         Kolkata 700107
                         West Bengal, India
                         E-mail: cirp.wjmpl@gmail.com

Last date for
submission of claims:    December 1, 2022


YASH CONSTRUCTION: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Yash
Construction Equipments Private Limited (YCEPL) continue to be
'CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            7.3        CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term     0.5        CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with YCEPL for
obtaining information through letters and emails dated August 24,
2022 and October 15, 2022 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.

'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward-looking component.'

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of YCEPL, which restricts CRISIL
Ratings' ability to take a forward-looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on YCEPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
YCEPL continue to be 'CRISIL D Issuer Not Cooperating'.

YCEPL was set up in 2007 in Mirzapur, Uttar Pradesh, by Mr Sanjay
Kumar and his wife, Ms Sneha Kumar. The company is an authorized
dealer of Tata Hitachi's heavy earth-moving equipment such as
loaders, backhoe loaders, excavators, and car-mounted machines. It
acquired Tata Hitachi's dealership in 2007.




=========
J A P A N
=========

FTX TRADING: Japan Unit Drafts Plan to Return Client Funds
----------------------------------------------------------
Bloomberg News reports that the Japanese subsidiary of Sam
Bankman-Fried's failed crypto empire FTX has put together a draft
plan for clients to withdraw funds, in what would be one of the
rare cases of investors getting money back from the collapsed
exchange.

The proposal, which has yet to be finalized, centers on using a
platform called Liquid to facilitate the return of assets starting
in January, according to people familiar with the matter, Bloomberg
relays.

Bankman-Fried's sprawling tangle of FTX group companies slid into a
chaotic bankruptcy on Nov. 11, potentially bilking more than a
million creditors around the world and fomenting turmoil in the
crypto sector. The fallen crypto exchange owes its 50 biggest
unsecured creditors a total of $3.1 billion, according to court
filings.

Bloomberg relates that FTX Japan customer balances would be
transferred to Liquid after a verification process so that users
can withdraw their money, said the people, who asked not to be
identified discussing a private matter. The plan would need
approval from the country's regulator. FTX bought the operator of
the Liquid platform this year to boost its presence in Japan.

FTX Japan K.K. currently holds about $94.5 million in crypto assets
and $46 million in fiat currency in designated client accounts,
according to a draft of the proposal seen by Bloomberg News.

Bloomberg says the proposal in Japan is in contrast to other
countries where it's unclear how much investors will recover from
the bankruptcy. There's already tension between liquidators in the
Bahamas, where the global FTX operation was based, and US
bankruptcy proceedings under the firm's new Chief Executive Officer
John J. Ray III, a turnaround and restructuring expert. A major
source of conflict has been the Bahamas regulator's move to seize
FTX's digital assets.

In Japan, the Financial Services Agency is seeking a road map and
timeline for the return of customer assets as soon as possible,
according to the document cited by Bloomberg.

Under the proposal, client withdrawals could begin as early as the
week of Jan. 9, according to the draft. The plan consists of phases
including: data acquisition, authentication and data transfer,
balance confirmation, and distribution and withdrawal, Bloomberg
discloses citing the document.

Because FTX Japan is under the oversight of a US bankruptcy judge
in Wilmington, Delaware, the proposal may require court approval
before the money can be returned to customers, Bloomberg adds.

                          About FTX Group

FTX is the world's second-largest cryptocurrency firm.  FTX is a
cryptocurrency exchange built by traders, for traders.  FTX offers
innovative products including industry-first derivatives, options,
volatility products and leveraged tokens.

Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that
FTX paused customer withdrawals after it was hit with roughly $5
billion worth of withdrawal requests.

Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell
itself to its giant rival Binance, but Binance walked away from the
deal the next day amid reports on FTX regarding mishandled customer
funds and alleged US agency investigations.

At approximately 4:30 a.m. on Nov. 11, Bankman-Fried ultimately
agreed to step aside, and restructuring vet John J. Ray III was
quickly named new CEO.

FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc.
(d/b/a FTX US), Alameda Research Ltd. and certain affiliated
companies then commenced Chapter 11 proceedings (Bankr. D. Del.
Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022.
Additional entities sought Chapter 11 protection on Nov. 14, 2022.
A total of 102 entities related to FTX have filed for Chapter 11
protection.

FTX Trading and its affiliates each listed $10 billion to $50
million in assets and liabilities, making FTX the biggest
bankruptcy filer in the US this year.  According to Reuters, CEO
Bankman-Fried shared a document with investors on Nov. 10 showing
FTX had $13.86 billion in liabilities and $14.6 billion in assets.
However, only $900 million of those assets were liquid, leading to
the cash crunch that ended with the company filing for bankruptcy.
Financial Times says the largest portion of those liquid assets
listed on a FTX international balance sheet dated Nov. 10 was $470
million of Robinhood shares owned by a vehicle not listed in the
bankruptcy filing.

The Hon. John T. Dorsey is the case judge.

Andrew G. Dietderich, James L. Bromley, Brian D. Glueckstein
andAlexa J. Kranzley at Sullivan & Cromwell LLP in New York, serve
as the Debtors' counsel.

Adam G. Landis, Kimberly A. Brown and Matthew R. Pierce at LANDIS
RATH & COBB LLP in Wilmington serve as local bankruptcy counsel to
FTX Group.

Alvarez & Marsal North America, LLC, is the Debtors' financial
advisor.

Kroll is the claims agent, maintaining the page
https://cases.ra.kroll.com/FTX/Home-Index

Lawyers at Paul Weiss represent Mr. Bankman-Fried.




===============
M A L A Y S I A
===============

IREKA CORP: Looks for New Partners for Development Initiatives
--------------------------------------------------------------
New Straits Times reports that Ireka Corporation Bhd is undergoing
a transition phase to focus on efforts to address the Practice Note
(PN17) status.

According to the report, the company said that it will keep looking
for ways to increase the value of its order book and find new
partners to jointly build new real estate projects.

Ireka reported to the stock exchange on Nov. 30 that its order book
for building projects is now over MYR1.09 billion, with roughly
MYR889 million still outstanding.

Ireka returned to the black with a net profit of MYR172.23 million
in the first quarter of its financial year ending June 30, 2023 (Q1
FY2023) compared with a net loss of MYR14.90 million in the
corresponding quarter in the preceding year, NST discloses.

NST relates that the deconsolidation of the company's loss-making
subsidiary, Ireka Engineering and Construction Sdn Bhd (IECSB),
which was the first step toward a complete overhaul of its
structure and business strategy, was primarily responsible for the
company's greater net profit.

Despite the deconsolidation of IECSB, the company's revenue
improved to MYR11.86 million in Q1 FY2023 from MYR8.29 million
previously, due to the continuation of the movement control order
imposed by the government last year, NST relays.

In Q1 FY2023, Ireka's property development division reported
greater revenue of MYR10.83 million compared to MYR4.88 million in
Q1 FY2022.

Revenue for the company's trading and services division fell from
MYR2.33 million to MYR1.60 million.

The investment holding and other segment revenue for the current
period to date were greater at MYR2.26 million.

The construction segment's revenue is not recognised as a result of
IECSB's deconsolidation, it said in the filing.

                         About Ireka Corp.

Malaysia-based Ireka Corporation Berhad is an investment holding
company which provides civil, structural, and building
construction. The Company, through its subsidiaries, also provides
earthworks and leases construction plant and machinery. Ireka also
operates online international auction trade and provides venture
capital fund to internet, e-commerce, and related technology based
companies.

Ireka Corp Bhd has been classified as an affected listed issuer
under Practice Note 17 (PN17) of the Main Market Listing
Requirements.

In a filing with Bursa Malaysia on March 1, the construction and
property developer said it had triggered the prescribed criteria
under Paragraph 2.1(e) of the PN17 and that Bursa Malaysia
Securities Bhd had rejected its application to extend the relief
period, which ended on Feb. 26.




=====================
N E W   Z E A L A N D
=====================

GEOFF WILSON: Creditors' Proofs of Debt Due on Dec. 19
------------------------------------------------------
Creditors of Geoff Wilson Limited are required to file their proofs
of debt by Dec. 19, 2022, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on Nov. 17, 2022.

The company's liquidators are:

          Elizabeth Helen Keene
          Luke Norman
          KPMG Christchurch
          Level 5, 79 Cashel Street
          PO Box 1739
          Christchurch 8140


KOTUKU CAPITAL: Court to Hear Wind-Up Petition on Dec. 8
--------------------------------------------------------
A petition to wind up the operations of Kotuku Capital Limited will
be heard before the High Court at Christchurch on Dec. 8, 2022, at
10:00 a.m.

The Commissioner of Inland Revenue filed the petition against the
company on Sept. 23, 2022.

The Petitioner's solicitor is:

          Gabrielle McGillivray
          Inland Revenue, Legal Services
          PO Box 1782
          Christchurch 8140


NZ LIVING: Creditors' Proofs of Debt Due on Jan. 10
---------------------------------------------------
Creditors of NZ Living Lake Road Limited are required to file their
proofs of debt by Jan. 10, 2023, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Nov. 24, 2022.

The company's liquidators are:

          Andrew McKay
          Rees Logan
          BDO Auckland
          Level 4, BDO Centre
          4 Graham Street
          Auckland 1010


PODULAR HOUSING: Creditors' Proofs of Debt Due on Jan. 9
--------------------------------------------------------
Creditors of Podular Housing Systems Limited and Clean and Vac
(2021) Limited are required to file their proofs of debt by Jan. 9,
2023, to be included in the company's dividend distribution.

Podular Housing Systems Limited commenced wind-up proceedings on
Nov. 25, 2022. Clean and Vac (2021) Limited commenced wind-up
proceedings on Nov. 23, 2022.

The company's liquidators are:

          Benjamin Francis
          Simon Dalton
          Gerry Rea Partners
          PO Box 3015
          Auckland


WHYTE CAPITAL: Court to Hear Wind-Up Petition on Dec. 8
-------------------------------------------------------
A petition to wind up the operations of Whyte Capital Limited will
be heard before the High Court at Christchurch on Dec. 8, 2022, at
10:00 a.m.

The Commissioner of Inland Revenue filed the petition against the
company on Sept. 23, 2022.

The Petitioner's solicitor is:

          Gabrielle McGillivray
          Inland Revenue, Legal Services
          PO Box 1782
          Christchurch 8140




=================
S I N G A P O R E
=================

FUCOM CONSTRUCTION: Court Enters Wind-Up Order
----------------------------------------------
The High Court of Singapore entered an order on Nov. 25, 2022, to
wind up the operations of Fucom Construction Pte. Ltd.

The Hongkong and Shanghai Banking Corporation Limited filed the
petition against the company.

The company's liquidators are:

          Gary Loh Weng Fatt
          Leow Quek Shiong
          c/o BDO Advisory Pte. Ltd.
          600 North Bridge Road
          #23-01 Parkview Square
          Singapore 188778


HYFLUX LTD: Seeks SGD684.6MM from KPMG for Alleged Negligence
-------------------------------------------------------------
The Business Times reports that Hyflux and two of its units are
claiming over SGD684.6 million from the group's former external
auditor, KPMG, for alleged negligence in auditing the accounts.

The professional services firm has denied the allegation, BT says.

BT, citing the statement of claim filed in October, relates that
Hyflux, Hydrochem and Tuaspring alleged that Hyflux's financial
statements for the years 2011 to 2017 in relation to the Tuaspring
desalination and power plants were materially misstated.

Singapore-based Hyflux Ltd provided various solutions in water and
energy areas worldwide. The company operated through two segments,
Municipal and Industrial. The Municipal segment supplied a range of
infrastructure solutions, including water, power, and
waste-to-energy to municipalities and governments. The Industrial
segment supplied infrastructure solutions for water to industrial
customers. It has business operations across Asia, Middle East and
Africa.

In May 2018, Hyflux filed for bankruptcy protection and got an
automatic 30-day moratorium. Trading in all its shares and
securities was suspended.

In March 2019, Hyflux said that Maybank, its biggest secured
creditor, had appointed receivers and managers from insolvency firm
Ferrier Hodgson to take over the Tuaspring Integrated Water and
Power Plant.  In May 2019, National water agency PUB takes over
Tuaspring desalination plant.

In June 2020, the Singapore authorities said they are investigating
Hyflux over corporate governance breaches. Among the directors
under probe is Hyflux executive chairman Olivia Lum.

In November 2020, the High Court of Singapore appointed Hamish
Alexander Christie and Patrick Bance of Borrelli Walsh Pte. Limited
as joint and several judicial managers of Hyflux Ltd.

On June 2021, Hyflux's judicial managers filed an application to
wind up the company. On July 21, 2021, the High Court of Singapore
approved the winding up application.


VEEV INTERACTIVE: Creditors' Meetings Set for Dec. 19
-----------------------------------------------------
Veev Interactive Pte Ltd will hold a meeting for its creditors on
Dec. 19, 2022, at 10:45 a.m., via Zoom.

Agenda of the meeting includes:

   a. to lay before the creditors a full statement of the affairs
      of the Companies, showing the assets and liabilities of the
      Companies;

   b. to appoint Liquidators;

   c. to appoint a Committee of Inspection if deemed necessary;

   d. Any other business.


VISIONAIRS IN ART: Court to Hear Wind-Up Petition on Dec. 16
------------------------------------------------------------
A petition to wind up the operations of Visionairs In Art Pte Ltd
will be heard before the High Court of Singapore on Dec. 16, 2022,
at 10:00 a.m.

MHCR Digital Limited filed the petition against the company on Nov.
24, 2022.

The Petitioner's solicitors are:

          Shook Lin & Bok LLP
          1 Robinson Road
          #18-00, AIA Tower
          Singapore 048542




===============
X X X X X X X X
===============

[*] Ashurst Taps Lance Jiang as Partner for Restructuring
---------------------------------------------------------
Global law firm Ashurst has appointed Lance Jiang as a partner in
the restructuring, insolvency and special situations practice,
based in its Hong Kong office, as part of the team's expansion plan
to capture the rapidly growing opportunities and client demands in
Asia.

With two decades of experience in the region, Lance advises on
complex cross-border restructurings and insolvencies with a Chinese
nexus. With a strong focus on funds and financial institutions
across greater China, he has represented a broad range of
stakeholders, including creditors' committees, bondholders,
financial institutions, special situation funds, debtors,
controlling shareholders, liquidators, agents and trustees on
special situation matters involving NPLs, restructurings,
bankruptcies, insolvencies and reorganisations. He has also acted
on a wide spectrum of cross-border structured corporate finance
transactions, including acquisition financings, equity margin
financings, pre-IPO and leveraged financings, real estate
financings and other event driven financings. Prior to joining
Ashurst, Lance has practised at international law firms in Hong
Kong, New York and Beijing. He also has extensive experience
working as in-house counsel at leading financial institutions in
Shanghai and Hong Kong.

James Marshall, APAC head of restructuring, insolvency and special
situations, comments: "Our team has extensive experience advising
all types of stakeholders on the full spectrum of issues that arise
from corporate distress, distressed investing and formal
insolvencies. Lance has represented bondholders and debtors on some
of the most complicated high profile restructuring cases in Hong
Kong. His established relationships with Chinese funds and
financial institutions and strong technical skillset will add to
our existing offering, continue to strengthen our expertise across
the market and capture the growing opportunities in a fast-changing
economic environment."

Lance says: "Ashurst has a fantastic global network and an
excellent reputation for its finance, corporate and restructuring
practices in Asia, which makes it the ideal platform from which I
can build and expand my practice. I am excited by the opportunity
to leverage the firm's collaborative network, innovative and
client-centric approach to deliver exceptional results for
clients."



                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Asia Pacific is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Joy A. Agravante, Rousel Elaine T. Fernandez,
Julie Anne L. Toledo, Ivy B. Magdadaro and Peter A. Chapman,
Editors.

Copyright 2022.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.
Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

TCR-AP subscription rate is US$775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance
thereof are US$25 each.  For subscription information, contact
Peter Chapman at 215-945-7000.



                *** End of Transmission ***