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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

          Monday, July 17, 2023, Vol. 26, No. 142

                           Headlines



A U S T R A L I A

ATKIN & CO: Second Creditors' Meeting Set for July 20
BSM (ACT): First Creditors' Meeting Set for July 20
CALIA: Refers Customers to Consumer Affairs on Unspent Credits
EVERLEDGER AUSTRALIA: Placed in Liquidation
GINTONICA PTY: Second Creditors' Meeting Set for July 20

INKPAY PTY: Second Creditors' Meeting Set for July 20
MANUKALIFE HOLDINGS: First Creditors' Meeting Set for July 20
UN1TED CONCRETE: First Creditors' Meetings Today


C H I N A

DALIAN WANDA: Fitch Cuts LT IDR to 'B', Keeps Rating Watch Negative


I N D I A

BHIMA JEWELLERS: CARE Keeps B- Debt Rating in Not Cooperating
DAULAT FLOUR: CARE Keeps B- Debt Rating in Not Cooperating
DURGA CONSTRUCTION: CARE Keeps D Debt Ratings in Not Cooperating
GADDAM PATTABHI: CARE Keeps B- Debt Rating in Not Cooperating
GREEN EXPRESS: CARE Keeps C Debt Rating in Not Cooperating

HI-TECH AGRO: CARE Keeps B Debt Rating in Not Cooperating Category
INDERPAL SINGH: CARE Keeps B- Debt Rating in Not Cooperating
INFERTILITY INSTITUTE: CARE Cuts Rating on INR7.82cr Loan to B-
MANTRI INFRASTRUCTURE: Insolvency Resolution Process Case Summary
MANTRI TECHZONE: Insolvency Resolution Process Case Summary

MAYUR INDUSTRIES: CARE Keeps B- Debt Rating in Not Cooperating
METAL EXTRUSIONS: CARE Keeps B- Debt Rating in Not Cooperating
MNK EDUCATIONAL: CARE Keeps B- Debt Rating in Not Cooperating
MY CHOICE: CARE Lowers Rating on INR25.00cr LT Loan to B-
NAGA ENTERPRISES: CARE Keeps B- Debt Rating in Not Cooperating

NAKSHATRA CREATIONS: CARE Keeps B- Debt Rating in Not Cooperating
NEELKANTH FARMS: CARE Keeps D Debt Rating in Not Cooperating
P.K. METAL: CARE Keeps D Rating in Not Cooperating Category
PANCHAMRUT PROPERTIES: CARE Keeps B- Rating in Not Cooperating
PIONEER HOLON: CARE Keeps B- Debt Rating in Not Cooperating

RELIABLE CASHEW: Insolvency Resolution Process Case Summary
SALIM'S PAPER: CARE Keeps D Debt Rating in Not Cooperating
SHARDA RETAILS: CARE Keeps B Debt Rating in Not Cooperating
SHREEYA PEANUTS: CARE Keeps C Debt Ratings in Not Cooperating
SHRIMATI NARASAMMA: CARE Keeps D Debt Rating in Not Cooperating

SRIYA FARM: CARE Lowers Rating on INR21.00cr LT Loan to B-
TRISHUL DREAM: Insolvency Resolution Process Case Summary
TS SHAPE: Voluntary Liquidation Process Case Summary
VARDAAN EXPORTS: CARE Keeps D Debt Ratings in Not Cooperating
VIVEKANANDA EDUCATION: CARE Cuts Rating on INR7.92cr Loan to B-


                           - - - - -


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

ATKIN & CO: Second Creditors' Meeting Set for July 20
-----------------------------------------------------
A second meeting of creditors in the proceedings of Atkin & Co Pty
Ltd has been set for July 20, 2023 at 11:30 a.m. at Level 18, Tower
4, 727 Collins Street in Melbourne and via electronic facilities.

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 July 19, 2023 at 5:00 p.m.

Mathew Dieter Windsor Blum and Andrew Thomas Sallway of BDO were
appointed as administrators of the company on June 16, 2023.


BSM (ACT): First Creditors' Meeting Set for July 20
---------------------------------------------------
A first meeting of the creditors in the proceedings of BSM (ACT)
Pty Ltd will be held on July 20, 2023, at 10:30 a.m. at the offices
of Worrells at Level 2, AMP Building, 1 Hobart Place in Canberra
and via virtual meeting technology.

Stephen John Hundy of Worrells was appointed as administrator of
the company on July 10, 2023.


CALIA: Refers Customers to Consumer Affairs on Unspent Credits
--------------------------------------------------------------
SmartCompany reports that a disagreement over unredeemed restaurant
credits between collapsed Melbourne restaurant business Calia and
hospitality platform Liven has escalated, with the former advising
concerned customers to contact Consumer Affairs Victoria, and the
latter accusing the enterprise of an "unwillingness to honour their
legal obligations."

Calia Australia, which operates a flagship eatery in the Melbourne
CBD, and two spin-off restaurants at Chadstone Shopping Centre,
entered voluntary administration on June 28.

Puzzle Coffee, a Melbourne cafe chain with close ties to Calia,
entered voluntary administration the same day.

Glenn Anthony Crisp and Andrew Mattinson, both of Jirsch
Sutherland, were jointly appointed as administrators for Calia
Australia, SmartCompany discloses citing documents published by the
Australian Securities and Investments Commission (ASIC).

Crisp and Mattinson are listed as joint administrator and joint
appointee for Puzzle Coffee, respectively.

According to SmartCompany, Calia and Puzzle Coffee continue to
operate as the administrators work on a Deed of Company
Arrangement, which, if accepted by creditors, could see the
businesses carry on in a restructured form.

Both businesses offered customers the ability to pre-pay for dining
credits through the Liven platform, a hospitality tech provider
allowing diners to earn bonus credits when they eat or drink at a
participating venue, SmartCompany says.

However, the venues stopped accepting dining credit payments
through the Liven system when the businesses entered into voluntary
administration, leaving customers stuck with unspent food and drink
credits, SmartCompany relates.

Traditional gift card holders are usually considered unsecured
creditors to a business that enters voluntary administration, often
putting them at the back of the queue in the payout process.

Now, the status of the unspent Calia and Puzzle Coffee credits, and
who is responsible for recouping customers, has become a point of
contention, relates SmartCompany.

Melbourne diner Jen (surname withheld for anonymity) told
SmartCompany she has purchased at least AUD1,400 of Calia-branded
credits since 2017, with bonus offers from Calia taking the
in-store value of those credits to over AUD2,000.

She said she contacted Calia on July 10 to inquire about the status
of her unspent credits.

In an email viewed by SmartCompany, a Calia representative appeared
to say the funds underwriting those unspent credits were tied up
with Liven, not the restaurant business.

"We would like to clarify that although Liven may brand the credits
or vouchers as Calia, it is essential to understand that Calia and
other small businesses do not receive any upfront payment from
customers when they purchase food dollars through the Liven app,"
SmartCompany quotes the representative as saying.

"If Liven refuses to provide a refund we suggest you lodging a
report to consumer affairs," they added, appearing to refer to
Consumer Affairs Victoria.

Without mentioning Liven directly, the Jirsch Sutherland
spokesperson confirmed on July 13 the position of Calia's joint
administrators: customers concerned about the status of their
credits should contact the Victorian consumer watchdog.

"Jirsch Sutherland has advised that customers with unspent credits
should contact Consumer Affairs Victoria and refer to the terms and
conditions associated with the issue of the credits," the
spokesperson said.


EVERLEDGER AUSTRALIA: Placed in Liquidation
-------------------------------------------
Samuel Ord at Jeweller reports that despite attempts to save the
Brisbane-based technology and diamond tracing company, Everledger
Australia has been placed in liquidation with unsecured creditors
totalling AUD19,178,371.

In addition, more information has come to light about CEO Leanne
Kemp's previous companies and business dealings.

Jeweller relates that the voluntary administrators published a
notice on the Australian Securities and Investments Commission
(ASIC) website on July 12 confirming that a special resolution to
wind up the company had been passed.

The company's UK-based parent, Foreverhold Limited, was placed into
liquidation in May, the report recalls.

Everledger was launched in 2016, and it was previously thought that
the acceptance of a Deed of Company Arrangement (DOCA) proposed by
Ms. Kemp - seeing her pick up the company for as little as
AUD50,000 - would prevent it from being liquidated.

In a filing published on ASIC on June 21, a nine-step process was
recommended by voluntary administrator Steven Staatz of  
Accountants which included Ms. Kemp (The Proponent) forgiving a
debt of AUD243,512 as a creditor and making a payment of
AUD50,000.

According to Ms. Kemp's plan, she would be required to assist Deed
Administrators secure an Australian government Research and
Development Incentive Return for the company valued at AUD625,000,
Jeweller relays.

Following the successful completion of the DOCA, the control of the
company would be returned to Ms. Kemp as director.

"In my opinion, it would be in the best interest of the creditors
to accept the proposal for a Deed of Company Arrangement," Mr.
Staatz wrote on June 21; however, on July 12 it all fell apart when
the wind up notice was accepted, Jeweller relays.

Everledger was initially placed under Voluntary Administration on
April 24, and the subsequent administrator's report noted that,
under Mr. Kemp's management, the company effectively survived on
government income and grants.

"The Company's income for the year ended December 31, 2021 and 2022
were largely attributable to grant income which represented 83 per
cent and 84 per cent of the total income respectively," a filing on
May 23 stated.


GINTONICA PTY: Second Creditors' Meeting Set for July 20
--------------------------------------------------------
A second meeting of creditors in the proceedings of Gintonica Pty
Limited has been set for July 20, 2023 at 11:00 a.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 July 19, 2023 at 4:00 p.m.

David Ross of I & R Advisory was appointed as administrator of the
company on June 21, 2023.


INKPAY PTY: Second Creditors' Meeting Set for July 20
-----------------------------------------------------
A second meeting of creditors in the proceedings of InkPay Pty Ltd
has been set for July 20, 2023 at 10:00 a.m. via virtual meeting.

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 July 19, 2023 at 4:00 p.m.

Glenn Thomas O'Kearney of GT Advisory & Consulting was appointed as
administrator of the company on June 15, 2023.


MANUKALIFE HOLDINGS: First Creditors' Meeting Set for July 20
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of ManukaLife
Holdings Pty Ltd, ManukaLife Services Pty Ltd and ManukaMade Pty
Ltd will be held on July 20, 2023, at 10:00 a.m. via Zoom.

Andrew Michael Smith and Robert Allan Jacobs of Auxilium Partners
were appointed as administrators of the company on July 10, 2023.


UN1TED CONCRETE: First Creditors' Meetings Today
------------------------------------------------
A first meeting of the creditors in the proceedings of Un1ted
Concrete Solutions Pty Ltd and Bros United Pty Ltd will be held
today, July 17, 2023, at 11:00 a.m. and 12:00 p.m. respectively, at
the offices of SV Partners at Level 17, 200 Queen Street in
Melbourne and via teleconference facilities.

Michael Carrafa and Peter Gountzos of SV Partners were appointed as
administrators of the company on July 5, 2023.





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

DALIAN WANDA: Fitch Cuts LT IDR to 'B', Keeps Rating Watch Negative
-------------------------------------------------------------------
Fitch Ratings has downgraded the Long-Term Foreign-Currency Issuer
Default Rating (IDR) of Dalian Wanda Commercial Management Group
Co., Ltd. (Wanda Commercial) to 'B', from 'BB-', and that of Wanda
Commercial Properties (Hong Kong) Co. Limited (Wanda HK) to 'B-',
from 'B+'. Fitch has also downgraded the rating on US dollar notes
guaranteed by Wanda HK and issued by Wanda Commercial's
subsidiaries to 'B-', from 'B+'. The Recovery Rating is 'RR4'. All
ratings remain on Rating Watch Negative (RWN).

The downgrade follows a further weakening in the consolidated
profile of Dalian Wanda Group Co., Limited (Wanda Group), Wanda
Commercial's 44% parent, due to heightened liquidity risk at Wanda
Commercial's sister company, Wanda Properties Group Co. Ltd. (Wanda
Properties), as disputes with stakeholders arise.

The RWN reflects the uncertainty in the listing of Zhuhai Wanda
Commercial Management Ltd., an asset-light property-management
company in which Wanda Commercial holds a 79% stake, as well as the
risk that the parent group's liquidity could deteriorate further.
Fitch has also revised Wanda Commercial's Standalone Credit Profile
(SCP) to 'bb-', from 'bbb-', due to weakening funding access and
the uncertain Zhuhai Wanda IPO.

Fitch has reassessed the linkage between Wanda Commercial and Wanda
Group and now rates Wanda Commercial at two notches above the
parent's consolidated profile, from one notch previously, based on
the "strong subsidiary, weak parent" approach under Fitch's Parent
and Subsidiary Linkage Rating Criteria.

Wanda HK is Wanda Commercial's fully owned sole offshore financing
platform and overseas investment-holding company. Under the Parent
and Subsidiary Linkage Rating criteria, Wanda HK follows the
"stronger parent" path and is rated one notch below Wanda
Commercial. This is based on Fitch's assessment of a 'Weak' legal
incentive, 'Medium' strategic incentive and 'High 'operational
incentive for the parent to provide support.

KEY RATING DRIVERS

Deterioration in Parent's Consolidated Profile: Fitch believes
Wanda Group's funding access and liquidity have deteriorated
further following disputes at Wanda Properties. For instance, Wanda
Group's shares in Wanda Commercial have been frozen under a
pre-trial asset preservation procedure filed by an investment
partner in one of Wanda Properties' projects. The various
stakeholder disputes have heightened liquidity pressure at Wanda
Properties.

Nonetheless, Wanda Group has said that it has successfully
refinanced a majority of its USD275 million offshore loan due
end-June 2023 and repaid the remainder. The group appears to have
retained a level of onshore banking access due to Wanda
Commercial's sizeable assets and strong operating cash flow.

Limitation of Intercompany Flows: Fitch has reassessed the legal
ringfencing linkage factor as 'Porous', from 'Open', as Wanda
Commercial has taken measures to limit intercompany fund flows to
Wanda Group. Fitch's 'Porous' assessment of access and control is
unchanged, as related-party transactions require the approval of a
significant minority shareholder that has board representation.

Wanda Commercial had paid Wanda Properties CNY11.4 billion to
construct several Wanda Plaza malls in 2022 and reported these
payment as "other receivables". These receivables will be offset
from the acquisition costs when Wanda Commercial buys the malls
from Wanda Properties. Wanda Commercial said these payments are
one-off and that it does not expect any further material payments
to Wanda Properties in the near term.

Weakening Funding Access: Fitch believes Wanda Commercial's funding
access has deteriorated, as indicated by disputes with non-bank
financial institutions. For instance, a pre-trial asset
preservation procedure in connection with a non-bank financing
dispute with a claim amount of CNY1.1 billion has resulted in
13.55% of Zhuhai Wanda's shares being subject to a freeze order.
However, Wanda Commercial said that it has obtained new
asset-backed loans and secured financing since April from new
non-bank sources.

IPO Uncertainty at Subsidiary: Fitch believes Zhuhai Wanda's IPO
may not be completed by end-2023. The company's negotiation with
pre-IPO investors is ongoing, but may be affected by legal disputes
at Wanda Group. Fitch believes the company may secure an extension
from some investors and has sufficient funds to repay those that
demand immediate repayment, however, liquidity may deteriorate
further, as a failure to secure an extension could see cash outflow
of more than CNY40 billion to minority investors by end-2023.

Stable Operations: Wanda Commercial announced CNY13 billion in net
rent in 1H23, following 4% yoy growth. This was in line with
Fitch's expectation and should translate into at least CNY1.2
billion in monthly cash flow to Wanda Commercial, excluding cash
flow from Zhuhai Wanda, to support debt servicing capability. The
company opened 12 new malls during the period, with a 98.2%
occupancy rate.

DERIVATION SUMMARY

Wanda Commercial

Wanda Commercial's investment-property portfolio is comparable with
that of major global peers, such as Swire Properties Limited
(A/Stable), Scentre Group Limited (A/Stable) and
Unibail-Rodamco-Westfield SE (BBB+/Negative). Wanda Commercial's
strong retail mall portfolio is in line with that of 'A' rated
property-investment peers due to its large size, asset
diversification and strong operational performance through business
cycles. However, its credit metrics are weaker than those of the
three peers, with recurring EBITDA interest coverage of around 2.0x
below the peer average of more than 5.0x.

Wanda HK

Wanda HK's ratings are supported by the linkage with its parent,
Wanda Commercial. The linkage can be compared with pairs such as
Vanke Real Estate (Hong Kong) Company Ltd (BBB+/Stable) and its
parent, China Vanke Co., Ltd. (BBB+/Stable), as well as Hengli
(Hong Kong) Real Estate Limited (BBB+/Stable) and its parent, Poly
Developments and Holdings Group Co., Ltd. (BBB+/Stable). The
subsidiaries are all positioned as their parents' main offshore
financing platforms.

Fitch considers Wanda Commercial's legal incentive to support Wanda
HK as 'Low', in contrast to the two peers' 'Medium' assessment.
This is why Fitch rates Wanda HK one notch below its parent, while
the ratings of the two peers are equalised with those of their
parents.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Fitch's Rating Case for the Issuer

-- Wanda Commercial to open 30-50 Wanda Plazas in 2023, with
around 80,000 square metres of leasable floor area each, of which
20-40 malls will be under an asset-light business model.

-- Rental and property management fee gross profit margin of 65%
in 2023-2024 (2022: 67%).

-- Rental and property management fee income of CNY47 billion in
2023 and CNY48 billion in 2024 (2022: CNY45 billion).

-- Capex of CNY1 billion in 2023-2024.

-- Available cash balance, including 40% of wealth-management
products, maintained at CNY20 billion-30 billion in 2023-2024.

-- No equity financing cash inflow due to timing uncertainty.

Recovery Rating on Wanda HK

The calculation is based on 2021 annual results, as no 1H22 or 2022
results are available. The recovery analysis assumes that Wanda HK
would be liquidated in a bankruptcy. Fitch assumes a 10%
administrative claim.

Liquidation Approach

The liquidation estimate reflects Fitch's view of the value of
balance-sheet assets that can be realised in the sale or
liquidation processes conducted during a bankruptcy or insolvency
proceeding and distributed to creditors.

-- Advance rate of 0% is applied to excess cash after netting off
payables and other payables.

-- Advance rate of 50% is applied to investment properties,
supported by Wanda HK's hotels and shopping malls, which generate
rental yields of above 6%.

-- Advance rate of 70% is applied to account receivables. This is
more conservative than the 80% in Fitch's criteria, as the ending
balance is outdated.

The allocation of value in the liability waterfall results in a
Recovery Rating corresponding to 'RR3' for offshore senior debt.
However, the Recovery Rating is capped at 'RR4', because under
Fitch's Country-Specific Treatment of Recovery Ratings Criteria,
China falls into Group D of creditor friendliness, and instrument
ratings of issuers with assets in this group are subject to a cap
of 'RR4'.

RATING SENSITIVITIES

Wanda Commercial

Factors that could, individually or collectively, lead to positive
rating action/upgrade

-- The RWN will be removed if the negative triggers are not met

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- Evidence of further deterioration in liquidity or refinancing
risk at Wanda Group or its subsidiaries

-- No extension agreement with Zhuhai Wanda's pre-IPO investors in
the event of further listing delays

-- Evidence of a reduction in Wanda Commercial's banking access

Wanda HK

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- The RWN will be removed if the negative triggers are not met

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- A downgrade of Wanda Commercial's IDR

-- A perceived weakening in Wanda Commercial's incentives to
support Wanda HK.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Reduced Liquidity Buffer: Fitch believes Wanda Commercial has
adequate funds to cover upcoming short-term capital market
maturities, but its liquidity buffer has deteriorated. The company
reported CNY28 billion in readily available cash as of end-March
2023, of which CNY10 billion sits with Zhuhai Wanda and may not be
available to repay Wanda Commercial's debt. Available
cash/short-term debt dropped to 0.4x in 2022, from 2.7x in 2021,
after the auditor classified pre-IPO funds as short-term debt.
Fitch has treated the pre-IPO funds as debt since 2021.

Wanda Commercial repaid CNY8 billion in bonds in 2Q23 and is
working towards refinancing the upcoming maturities. Fitch
estimates that the company had CNY19 billion in short-term debt as
of 1Q23; this mainly comprised of bank loans, the majority of which
can be rolled over, as they are backed by investment properties.
Fitch includes 40% of the company's CNY21 billion investment in
wealth-management products in the liquidity calculation in
accordance with Fitch's corporate rating criteria.

ISSUER PROFILE

Wanda Commercial is China's largest shopping mall owner and one of
the largest commercial property owners rated by Fitch.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch capitalised a CNY543 million fixed lease in 2021 and a CNY744
million fixed lease in 2022 with an 8.0x multiple.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

ESG CONSIDERATIONS

Wanda Commercial has an ESG Relevance Score of '4' for Financial
Transparency, because Wanda Group is a private company and its
financial disclosure to Fitch is limited. Fitch have obtained
audited financial reports and access to Wanda Group's management,
but information about the group's other principal subsidiaries may
be limited. The uncertainty over Wanda Group's financial
transparency has a negative impact on the credit profile, and is
highly relevant to the rating.

Wanda Commercial has an ESG Relevance Score of '4' for Group
Structure, because there is lack of transparency, particularly in
intra-group transactions between Wanda Commercial and Wanda Group.
This includes regarding the issuance of guarantees or other forms
of credit enhancement, or contractual features of debt, such as
subordination or ringfencing that affect the risk profile of Wanda
Commercial, which indicates weak group structure. This has a
negative impact on the credit profile, and is highly relevant to
the rating.

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.



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I N D I A
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BHIMA JEWELLERS: CARE Keeps B- Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Bhima
Jewellers (BJ) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      11.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 16, 2022,
placed the rating(s) of BJ under the 'issuer non-cooperating'
category as BJ had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. BJ continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 2, 2023, May 22, 2023, June 23, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Wayand (Kerala) based Bhima Jewellery (BJ) was established in 2011
as a Partnership firm by Mr. B Girirajan, Mr. G Balachandra Kiran,
Ms. G Vanamala, Ms. G Anupama and Ms. G Swetha Bhattar. The firm is
part of Bhima Group which was started by Mr. Bhima Bhatter in 1925
which is one of the leading family -run businesses in South India.
The firm is engaged in retail trading of gold and silver ornaments,
other precious jewellery. BJ has one retail store in Sultan
Bathery, Kerala. The firm procures ornaments from local vendors.


DAULAT FLOUR: CARE Keeps B- Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Daulat
Flour Mill (DFM) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.96       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale and Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 17, 2022,
placed the rating(s) of DFM under the 'issuer non-cooperating'
category as DFM had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. DFM continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 3, 2023, May 13, 2023, May 23, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Bulandshahr, Uttar Pradesh based Daulat Flour Mill (DFM) was
established in 2012 as partnership firm an d commenced its
commercial operations in September, 2014. The firm is currently
being managed by Mr. Daulat Singh with his wife and son Mrs. Omvati
Singh and Mr. Raj Kumar Singh respectively. DFM is engaged in the
processing of wheat into wheat flour (atta ), refined wheat flour
(maida), bran and semolina (suji). The company's processing unit is
located in Bulandshahr, Uttar Pradesh.

DURGA CONSTRUCTION: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Durga
Construction Co. Kundapura (DCCK) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       4.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      2.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category
  
Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 17, 2022,
placed the rating(s) of DCCK under the 'issuer non-cooperating'
category as DCCK had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. DCCK continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 3, 2023, May 13, 2023, May 23, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Not Applicable

Karnataka based, Durga Constructions Co. (DCCK) was established as
a partnership firm in the year 1996 and promoted by Mr. Shetty
Subhaschandra Kandavara, Mrs. Anup ama S Shetty, Mr. Ramkishan
Hegde and Ms. Ashwini S Shetty. The firm is engaged in civil
construction works like construction of roads, canals and bridges
for state government of Karnataka. The firm receives the work order
from government organization by participating in the tenders.


GADDAM PATTABHI: CARE Keeps B- Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Gaddam
Pattabhi Reddy (GPR) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      15.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 20, 2022,
placed the rating(s) of GPR under the 'issuer non-cooperating'
category as GPR had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. GPR continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 6, 2023, May 16, 2023, May 26, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Stable

Gaddam Pattabhi And Company was established in the year 1986 as an
auditing firm. Mr. Gaddam Pattabhi Reddy is a qualified Chartered
Accountant and proprietor of the firm. The firm is engaged in
providing auditing services and other professional services to
corporates and individuals. Apart from the professional income, Mr.
Gaddam Pattabhi Reddy also earns income from leasing out his
properties for commercial purpose. The proprietor owns five
properties at various locations in Bangalore city which has been
leased out to various lessees.


GREEN EXPRESS: CARE Keeps C Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Green
Express Carriers Private Limited (GECPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      12.00       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 22, 2022,
placed the rating(s) of GECPL under the 'issuer non-cooperating'
category as GECPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. GECPL continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 8, 2023, May 18, 2023, May 28, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

New Delhi-based Green Express Carriers Private Limited (GEC) was
incorporated in February 2015 by Mr Tejinderjit Singh Dang and Mr
Kamal Deep Singh Dang and started its commercial operations in
December 2015. The company is in the business of providing
logistics services.


HI-TECH AGRO: CARE Keeps B Debt Rating in Not Cooperating Category
------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Hi-Tech
Agro Food Private Limited (HAFPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.25       CARE B; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 13, 2022,
placed the rating(s) of HAFPL under the 'issuer non-cooperating'
category as HAFPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. HAFPL continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
April 29, 2023, May 9, 2023, May 19, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Stable

Trichy (Tamil Nadu) based Hi-Tech Agro Food Private Limited (HAFPL)
was incorporated on May 26, 2005 by Mr B Rajendran, Mr. P A V
Arumugam, Mr. D Ravi along with their family members. The company
is engaged in milling and trading of nonbasmati rice such as raw
rice, boiled rice and broken rice etc. with processing capacity of
43000 Metric tonnes per annum. Mr B Rajendran
(Managing Director) and Mr D Ravi (Joint MD), having more than
three decades of experience in the rice milling industry, looks
after the day to day operations of the company alo ng with other
directors who have rich experience in the similar line of
business.

HAFPL procures paddy directly from farmers and small paddy agents
in Tanjavur, Karnataka and Andhra Pradesh. The company did not
avail any COVID-19 moratorium on its bank facilities.


INDERPAL SINGH: CARE Keeps B- Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Inderpal
Singh Bhatia (ISB) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      10.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 14, 2022,
placed the rating(s) of ISB under the 'issuer non-cooperating'
category as ISB had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. ISB continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
April 30, 2023, May 10, 2023, May 20, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

M/s Inderpal Singh Bhatia was set up as a proprietorship firm by
Mr. Inderpal Singh Bhatia in the year 2007. Si nce its inception,
the firm has been engaged in trading of petrol, diesels, coals and
sarees. The firm is also engaged in road transportation services
from where it derives around 20% of total revenue in FY18
Provisional. The firm procures petrol and diesels from Indian Oil
Corporation Limited.

INFERTILITY INSTITUTE: CARE Cuts Rating on INR7.82cr Loan to B-
---------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Infertility Institute and Research Centre Private Limited (IIRCPL),
as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       7.82       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B; Stable

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 6, 2022,
placed the rating(s) of IIRCPL under the 'issuer non-cooperating'
category as IIRCPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. IIRCPL continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
April 22, 2023, May 2, 2023, June 30, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

The ratings assigned to the bank facilities of IIRCPL have been
revised on account of non-availability of requisite information.
The ratings also factored in deterioration in capital structure and
increased debt levels in FY22 over FY21.

Analytical approach: Standalone

Outlook: Stable

Infertility Institute and Research Centre (IIRCPL) was established
in 1992 by Dr Mamta Deenadayal. It has achieved national
recognition for clinical excellence and advanced research in the
field of reproductive medicine. The institute offers a full range
of Assisted Reproductive Technologies (ART) services to address
both male and female fertility concerns, ranging from basic
infertility care to the more technically advanced treatments, like
Intracytoplasmic sperm injection (ICSI), Invitro fertilization
(IVF), Embryo freezing, Intrauterine insemination (IUI), Micro
surgical procedures on male, fertilit y enhancing surgery –
Laproscopy and Hysteroscopy a dedicated 3D/4D ultrasound unit and
more.


MANTRI INFRASTRUCTURE: Insolvency Resolution Process Case Summary
-----------------------------------------------------------------
Debtor: Mantri Infrastructure Private Limited
Registered Office:
        Mantri House No 41 Vittal Mallaya Road
        Bangalore-560001, Karnataka

Insolvency Commencement Date: June 23, 2023

Estimated date of closure of
insolvency resolution process: December 20, 2023 (180 Days)

Court: National Company Law Tribunal, Bengaluru Bench

Insolvency
Professional: Rajesh Kumar Parakh
       5/51, 2nd Floor, WEA Karol Bagh
              New Delhi-l10005 India
              Email: parakh.rajesh@gmail.com

              Ground Floor, No. 8, 'VK Commerce', 3rd main,
              Rajajinagar Industrial Estate
              Bengaluru-560010
              Email: cirp.mipl@gmail.com

              1. Mr. Surender Devasani
                 1436, Anasuya Nilaya, 2nd Floor, 8th Cross,
                 l0th Main, BTM 2nd Stage,
                 Bangalore, Karnataka, 560076
                 Email: surenderdevasani@gmail.com

              2. Ms. Rajini G N
                 Sy. No 7/16, No. 3, Manjunatha Complex,
                 4th Main, SSA Road, Hebbal,
                 Professional Cowier Building
                 Bangalore-560024, Karnataka
                 Email: torajinign@gmail.com

              3. Mr. Narayana Kamma
                 E-1807, ko, Brigade Gateway Apartments,
                 Dr. Rajkumar Road,
                 Malleshwaram-West Orion Mall,
                 Bangalore-560055, Karnataka
                 Email : kln6019@gmail.com

Last date for
submission of claims: July 7, 2023


MANTRI TECHZONE: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: Mantri Techzone Private Limited
Registered Office:
        Manti House 41 Vittal Mallaya Road
        Bangalore -560001 Karnataka

Insolvency Commencement Date: June 23, 2023

Estimated date of closure of
insolvency resolution process: December  20, 2023 (180 Days)

Court: National Company Law Tribunal, Bengaluru Bench

Insolvency
Professional: Rajesh Kumar Parakh
       5/51, 2nd Floor, WEA Karol Bagh
              New Delhi-l10005 India
              E-mail: parakh.rajesh@gmail.com

              Ground Floor, No. 8, 'VK Commerce',
              3rd main, Rajajinagar
              Industrial Estate Bengaluru - 560010
              E-mail: cirp.rp.mtpl@gmail.com

              1. Mr. Surender Devasani
                 1436, Anasuya Nilaya, 2nd Floor,
                 8th Cross, l0th Main, BTM 2nd Stage,
                 Bangalore, Karnataka, 560076
                 E-mail: surenderdevasani@gmail.com

              2. Ms. Rajini G N
                 Sy. No 7/16, No. 3, Manjunatha Complex,
                 4th Main, SSA Road, Hebbal,
                 Professional Cowier Building
                 Bangalore-560024, Karnataka
                 E-mail: torajinign@gmail.com

              3. Mr. Narayana Kamma
                 E-1807, ko, Brigade Gateway Apartments,
                 Dr. Rajkumar Road,
                 Malleshwaram-West Orion Mall,
                 Bangalore-560055, Karnataka
                 E-mail: kln6019@gmail.com

Last date for
submission of claims: July 7, 2023


MAYUR INDUSTRIES: CARE Keeps B- Debt Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Mayur
Industries (MI) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       9.21       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 22, 2022,
placed the rating(s) of MI under the 'issuer non-cooperating'
category as MI had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. MI continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 8, 2023, May 18, 2023, May 28, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Stable

Khandwa (Madhya Pradesh) based, MI was initially formed by Mr.
Madhusudan Tiwari along with other partners around 3.5 decades ago
and set up processing plant of flour. Further, the firm has
discontinued its operation in 2009 and again resumed its operation
in June 2018. MI is engaged in the processing of grain mill
products (wheat flour, maida, suji, rawa, chokar and bran).



METAL EXTRUSIONS: CARE Keeps B- Debt Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Metal
Extrusions (ME) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.50       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 16, 2022,
placed the rating(s) of ME under the 'issuer non-cooperating'
category as ME had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. ME continues to be
non -cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 2, 2023, May 22, 2023, June 23, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Stable

Metal Extrusions was established as proprietorship firm in the year
2010, promoted by Mr. Hitesh P. Jain. Subsequently, the
constitution of the firm changed to partnership on July 16, 2016.
At present, the operations of the firm are managed by Mr. Hitesh P.
Jain and Ravi Kumar Jain. Currently, the firm is engaged in
wholesale and retail trading of ferrous and nonferrous metals like
Aluminium extrusions, Aluminum Rolling sheets & Plates Copper,
Brass, Sheet Metals,etc. The firm has its customer base all over
country and major customers are Marine Electricals (India) Pvt Ltd
and Arrow Engineers. The firm purchases 65% - 70% of raw materials
from Hindalco Industries Limited and Jindal Aluminium Limited.


MNK EDUCATIONAL: CARE Keeps B- Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of MNK
Educational Society (MES) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      12.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 23, 2022,
placed the rating(s) of MES under the 'issuer non-cooperating'
category as MES had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. MES continues t o be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 09, 2023, May 19, 2023, May 29, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Andhra Pradesh based, MNK Educational Society (MES) was
incorporated in 2009 and promoted by Mr. Ramesh and his relatives
and started commercial operations subsequently. Mr. Ramesh has more
than three decades of experience in food processing industry. The
company is engaged in processing of mango pulp, guava and other
fruit pulps and the processing unit is located at Chittoor
district, Andhra Pradesh, with an installed capacity of 250 metric
tons (MT) per day. The company procures its raw materials (fruits)
from the local market i.e., from local farmers. NFPL sells more
than 90% of its products to Exotica Foods Pvt Ltd as on May 29,
2018).



MY CHOICE: CARE Lowers Rating on INR25.00cr LT Loan to B-
---------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
My Choice Sarees Private Limited (MCSPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      25.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B; Stable

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 7, 2022,
placed the rating(s) of MCSPL under the 'issuer non-cooperating'
category as MCSPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. MCSPL continues to
be non- cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
April 23, 2023, May 3, 2023, May 13, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

The ratings assigned to the bank facilities of MCSPL have been
revised on account of non-availability of requisite information.
The ratings also factored in deterioration in profitability and
increased debt levels in FY22 over FY21.

Analytical approach: Standalone

Outlook: Stable

My Choice Sarees Private Limited (MCSPL) is a Hyderabad based
company, which was incorporated in 1996 and promoted by Mr. M.
Narendra (Director), Mr. Nitin (Managing Director) and Mr. P.
Gunasekaran and other family members as a Private Limited company.
The company is engaged in whole sale & retail trading of sarees and
dress materials etc., exclusively for ladies. MC SPL have 3 trading
outlets in around Telangana. The company has its customer and
supplier base all over country.


NAGA ENTERPRISES: CARE Keeps B- Debt Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Naga
Enterprises (NE) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      11.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 24, 2022,
placed the rating(s) of NE under the 'issuer non-cooperating'
category as NE had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. NE continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 10, 2023, May 20, 2023, May 30, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best ava ilable information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Stable

Naga Enterprises was established in the year 2017 by Ms. D.
Rathamma as a proprietorship concern. Initially, the firm was
engaged in the business of trading of Tobacco, Pulses and Shrimp.
At present the firm is engaged in the wholesale and retail trading
of different kinds of pulses and shrimp. The firm mostly generates
95% of the revenue from the trading of pulses only and remaining 5%
from sale of shrimp. The firm sells both pulses and shrimp in the
districts of Andhra Pradesh and purchases the same from the farmers
located around Prakasham district, Andhra Pradesh.

NAKSHATRA CREATIONS: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Nakshatra
Creations Private Limited (NCPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       7.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 16, 2022,
placed the rating(s) of NCPL under the 'issuer non-cooperating'
category as NCPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. NCPL continues to be
noncooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 2, 2023, May 22, 2023, June 30, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Stable

Detailed description of the key rating drivers

Surat-based (Gujarat) NCPL was incorporated in 2006. It is mainly
engaged in the designing and stitching of sarees, salwar suit and
lehenga from different types of fabrics; under its own registered
brands namely "Nakkashi", "Mehreen", "Nairra" and "Womaniya". NCPL
is promoted by Mr. Sizer Lakhani and Mr. Kanav Arora who are having
an experience of more than a decade
in the same line of business. The designing process includes
different types of embroidery work, hand work, stitching etc. NCPL
primarily procures the raw material like fabrics and jari from
local dealers of Surat while it sells the final product pan -India
as well as to merchant exporters. The entity is also marketing
through its website for online shopping under the brand na me
"Nakkashi".


NEELKANTH FARMS: CARE Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Neelkanth
Farms (NF) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       7.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 21, 2022,
placed the rating(s) of NF under the 'issuer non-cooperating'
category as NF had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. NF continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 7, 2023, May 17, 2023, May 27, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Neelkanth Farms (NF) was established in July, 2017 as a partnership
firm and is currently being managed by Mr. Anil Mor, Mr. Ram Kumar
and Mr. Madan Mohan. NKF is established with an aim to set up a
poultry farming business at its poultry farm located in Karnal,
Haryana with the proposed breeding capacity of about 20,000-layer
birds per batch.

P.K. METAL: CARE Keeps D Rating in Not Cooperating Category
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of P.K. Metal
Industries (PMI) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.45       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 24, 2022,
placed the rating(s) of PMI under the 'issuer non-cooperating'
category as PMI had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. PMI continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 10, 2023, May 20, 2023, May 30, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Uttarakhand based PKMI was established in year 2016 and was
promoted by Mr. Vishal Gaur. Currently, the firm is engaged in
manufacturing of aluminum sections for aluminium doors, windows
etc. The manufacturing facility of the firm is located at
Bhagwanpur, Rurki.

PANCHAMRUT PROPERTIES: CARE Keeps B- Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Panchamrut
Properties Private Limited (PPPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.21       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 17, 2022,
placed the rating(s) of PPPL under the 'issuer non-cooperating'
category as PPPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. PPPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 3, 2023, May 13, 2023, May 23, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Stable

Established in 2002, Gujarat based PPPL is promoted by Mr. Patel
and his family members. The company is into the activities of
constructing building and renting it on lease basis. The company
is, at present having two directors namely Mrs. Parulben Patel and
Mr. Dhruv Patel. The company has given land and building comprising
of a school/office building and hostel on lease to Satkarya
Education Trust, Boriavi, Anand who Is running Takshshila
Vidyalaya, Nalanda Higher Secondary Schoo l, Kid's Land with dining
hall, admin office and hostel building.


PIONEER HOLON: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Pioneer
Holon Agroecology Private Limited (PHAPL) continues to remain in
the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.78       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 01, 2022,
placed the rating(s) of PHAPL under the 'issuer non-cooperating'
category as PHAPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. PHAPL continues to
be non-cooperative despite repeated requests for submission of
information through e -mails, phone calls and a letter/email dated
April 17, 2023, April 27, 2023, May 7, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Pioneer Holon Agroecology Private Limited (PHAPL) was incorporated
in March 02, 2012 by Mr. Bharati Bhushan Ray, Since its inception,
PHAPL is engaged in the business of providing cold storage services
primarily for potatoes, onion, ginger to local farmers and traders
on rental basis with an aggregate storage capacity of 5000MT per
annum. The cold storage facility of the
company is located at Khordha, Bhubaneswar, and Odisha. Besides
providing cold storage facility, the company also provides interest
bearing advances to farmers for their agricultural activities
against the receipts of potato stored.


RELIABLE CASHEW: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: Reliable Cashew Company Private Limited
Registered Office:
        No. 44, C P Ramaswamy Road,
        Alwarpet Chennai, Tamil Nadu 600 018

Corporate office:
        Plot No 429, Road No 10,
        Baikampady Industrial Area,
        New Mangalore 575 011

Insolvency Commencement Date:  June 22, 2023

Estimated date of closure of
insolvency resolution process: December 19, 2023

Court: National Company Law Tribunal, Bengaluru Bench

Insolvency
Professional: Sri. Ravindra Beleyur
             'Shreevathsa', 428, 9th B Cross, 3rd  Block,
              Jayanagar, Bengaluru - 560 011
              Tel No: +91 80 26540193
              Email: ravi@beleyur.com
              Email: reliable_cashew_CIRP@beleyur.com

Last date for
submission of claims: July 10, 2023


SALIM'S PAPER: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Salim's
Paper Private Limited (SPPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      12.08       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 22, 2022,
placed the rating(s) of SPPL under the 'issuer non-cooperating'
category as SPPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. SPPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 8, 2023, May 18, 2023, May 28, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Not Applicable

Jaipur (Rajasthan)-based Salims Paper Private Limited (SPPL) was
formed in May 2011 as a private limited company by Jaipur based
Kagji family with an objective to set up greenfield project for the
manufacturing of tissue papers.

SHARDA RETAILS: CARE Keeps B Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sharda
Retails Private Limited (SRPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      26.72       CARE B; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 2, 2022,
placed the rating(s) of SRPL under the 'issuer non-cooperating'
category as SRPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. SRPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
April 18, 2023, April 28, 2023, May 8, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

The ratings assigned to the bank facilities of SRPL have been
revised on account of non-availability of requisite information.

Analytical approach: Standalone

Outlook: Stable

Kolkata based Sharda Retails Private Limited (SRPL) was
incorporated as a private limited company in November 1990.
Currently, the company is managed by Mr. Brijesh Kumar Agarwal and
Mr. Suman Agarwal. Since its incep tion, the company has been
engaged in retailing of readymade garments for men and women. The
company also deals in various other accessories and household
items. The company procures its traded materials from various
states like Mumbai, Kolkata, Delhi, Ghaziabad, Ahmadabad and
others. The company sells its products through 13 exclusive
showrooms under the brand name "Geeta Fashions spreading across
various states of Eastern India like West Bengal, Jharkhand and
Orrisa. Furthermore, the company also sells its products through
vendors all over India.


SHREEYA PEANUTS: CARE Keeps C Debt Ratings in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shreeya
Peanuts Private Limited (SPPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.46       CARE C; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      6.30       CARE A4; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

   Long Term/          15.00       CARE C/CARE A4; ISSUER NOT
   Short Term                      COOPERATING; Rating continues
   Bank Facilities                 to remain under ISSUER NOT
                                   COOPERATING category

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 23, 2022,
placed the rating(s) of SPPL under the 'issuer non-cooperating'
category as SPPL had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. SPPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 9, 2023, May 19, 2023, May 29, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Not Applicable

Incorporated in October 2013, Shreeya Peanuts Private Limited
(SPPL) is engaged in groundnut oil milling, solvent extraction and
refinery of edible oil with an installed capacity for the oil mill
plant is 22,000 MTPA, 44,000 MTPA for the solvent plant and 22,000
MTPA for the refinery plant.

SHRIMATI NARASAMMA: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shrimati
Narasamma Gotyal Shikshna Samsthe (SNGSS) continues to remain in
the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.33       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 17, 2022,
placed the rating(s) of SNGSS under the 'issuer non-cooperating'
category as SNGSS had failed to provide information for monitoring
of the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. SNGSS continues to
be non-cooperative despite repeated requests for submission of
information through e -mails, phone calls and a letter/email dated
May 3, 2023, May 13, 2023, May 23, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Analytical approach: Standalone

Outlook: Not Applicable

Shrimati Narasamma Gotyal Shikshana Samaste (SNGSS) was established
in the year 2015 to provide primary and higher school education by
Mr Jettappa Siddappa Bolegaon, a social worker. The society is
located in Vijapur district of Karnataka. Currently, the society
runs classes from kinder garden to 8th standard and Pre- University
Course -1 (PUC -1) and Pre-University Course -2 and has strength of
528 students (as on March 31, 2018 (Provisional)) and 44 staff
members. The campus is built in an area of 6,972 square feet.


SRIYA FARM: CARE Lowers Rating on INR21.00cr LT Loan to B-
----------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Sriya Farm (SF), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      21.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B; Stable

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 15, 2022,
placed the rating(s) of SF under the 'issuer non-cooperating'
category as SF had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. SF continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 1, 2023, May 11, 2023, May 21, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

The ratings assigned to the bank facilities of SF have been revised
on account of non-availability of requisite information.

Analytical approach: Standalone

Outlook: Stable

Bangalore based M/s Sriya Farm (SF), established in 2003 as a
Proprietorship Firm by Dr. M.L. Suresh Babu, and is engaged in
poultry integration business, where a contract is given to the
framers for production of broiler chicken. SF produces small chicks
and keeps them in their hatchery for 21 days after which it is sent
to the farmers for further hatching process in their respective
local areas. The firm has a capacity of 200 lakhs per annum
hatchery eggs production of their own and 130 lakhs broiler birds
per annum under contract with local farmers. The firm purchases
poultry feeds from its associate concern Sriya Farm and Feed
Private Limited which manufacture poultry feed and sole supplier
for SF. The firm sells broiler chicken majorly in Karnataka and
Andhra Pradesh.

TRISHUL DREAM: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Trishul Dream Homes Limited

Registered Address:
        Post- Kheri Kalan, Sector-84
        Near Appejay School
        Fadirabad HR 121001 India

Other Address:
SRS Tower, 3rd Floor Near Metro Station,
        Mewla Maharajpur, G.T Road
        Fadirabad HR 121003 India

Insolvency Commencement Date: June 16, 2023

Estimated date of closure of
insolvency resolution process: December 12, 2023

Court: National Company Law Tribunal, Kolkata Bench

Insolvency
Professional: Ajay Kumar Agarwal
       Plot No. IID/31/1, Street No. 1111,
              PS QUBE, Unit Number 1015A,
              10th Floor Beside City Centre 2,
              Kolkata-700161
              E-mail: cs.aaa.2014@gmail.com
              E-mail: cirp.trishuldream@gmail.com

              1. Mr. Kapil Dev Dhir
              2. Mr. Sumit Sharma
              3. Ms. Uma Garg

Last date for
submission of claims: July 1, 2023


TS SHAPE: Voluntary Liquidation Process Case Summary
----------------------------------------------------
Debtor: TS Shape India Private Private Limited
        Plot No. 4, Sipcot Industrial Park,
        Vallam, Vadagal Village,
        Sriperumbedur, Kancheepuram,
        Tamil Nadu - 602105

Liquidation Commencement Date:  June 16, 2023

Court: National Company Law Tribunal, Chennai Bench

Liquidator: Subramariam Aneetha
     "Sarada Apartments" 17/6, Sringeri Mutt Road,
            Mandaiveli Chennai - 600028, Tamilnadu
            E-mail: aneethaca@gmail.com
            Mobile No: +919840024178

Last date for
submission of claims: July 16, 2023


VARDAAN EXPORTS: CARE Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Vardaan
Exports (VE) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      14.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Long Term/           3.00       CARE D/CARE D; ISSUER NOT
   Short Term                      COOPERATING; Rating continues
   Bank Facilities                 to remain under ISSUER NOT
                                   COOPERATING category

   Short Term Bank      1.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale and Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 17, 2022,
placed the rating(s) of VE under the 'issuer non-cooperating'
category as VE had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. VE continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 3, 2023, May 13, 2023, May 23, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

Vardaan Exports (VES) was established as a partnership firm in 2009
by Mr. J. B. Bansal and Mr. Sachin Garg. The firm is engaged in
milling, processing and trading of basmati and non-basmati rice.


VIVEKANANDA EDUCATION: CARE Cuts Rating on INR7.92cr Loan to B-
---------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Vivekananda Education Trust (Medinipur) (VET), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       7.92       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B; Stable

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated June 14, 2022,
placed the rating(s) of VET under the 'issuer non-cooperating'
category as VET had failed to provide information for monitoring of
the rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. VET continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
April 30, 2023, May 10, 2023, May 20, 2023.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).

The ratings assigned to the bank facilities of VET have been
revised on account of non-availability of requisite information.

Established in March 2003, Vivekananda Education Trust (VET) was
promoted by Dr. Saumen Kumar Mahapatra and Mr. Joydev Maity for
imparting educations from Pre-nursery to Standard 12 under the
school name of "Vivekananda Mission High School" which was
established in 1999 and also B. Ed. & D. El. Ed. under the college
name of "Vivek Jyoti College" which was established in 2006 in the
city of Medinipur, West Bengal. VET also provides spoken English
classes under the name of Vivekananda Institute of Language, which
was established in 2010. VET also provide hostel to students
(Central Board of Secondary Education) under the name of D.N.
Hostel and for students (West Bengal board of Secondary Education)
under the name of Maa Sarada Hostel.


                           *********


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-
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Marites O. Claro, Joy A. Agravante, Rousel Elaine T. Fernandez,
Julie Anne L. Toledo, Ivy B. Magdadaro and Peter A. Chapman,
Editors.

Copyright 2023.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
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