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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

          Wednesday, August 7, 2024, Vol. 27, No. 158

                           Headlines



A U S T R A L I A

BILLSON'S BEVERAGES: First Creditors' Meeting Set for Aug. 12
G.J.S. REAL ESTATE: Second Creditors' Meeting Set for Aug. 12
KIMBERLEY MEAT: Canadian Fund Gains Preliminary OK to Buy Plant
LUCIS PTY: First Creditors' Meeting Set for Aug. 12
MSQUARE ENERGY: Second Creditors' Meeting Set for Aug. 12

NOUMI LTD: Ordered to Pay AUD5MM Penalty for Disclosure Breaches
RESPONSIBLE ENTITY: Second Creditors' Meeting Set for Aug. 12
REX AIRLINES: Australia So Hard for Third Carrier to Survive
ZIP MASTER 2024-2: S&P Assigns Prelim. 'BB' Rating on Cl. E Notes


C H I N A

ANBANG INSURANCE: Wins Approval to Start Bankruptcy Proceedings
CHINA EVERGRANDE: Sues Chairman, 6 Others to Recover USD6 Billion
COUNTRY GARDEN: Sales Drop 72% in July as Housing Woes Persist


I N D I A

AGS MANAGEMENT: Liquidation Process Case Summary
ATHENA DEMWE: Jindal Power, Vedanta & 4 Others in Race for Company
AUTOCREATE WHEELS: Insolvency Resolution Process Case Summary
B K RICE: CARE Keeps B- Debt Rating in Not Cooperating Category
BALAJI ENTERPRISES: CARE Keeps C Debt Rating in Not Cooperating

BHIMASHANKAR AGRO: CARE Keeps B- Debt Rating in Not Cooperating
BHOPAL TRACTORS: CARE Lowers Rating on INR12cr LT Loan to B+
DATTA KRUPA: Liquidation Process Case Summary
DHARANI SUGARS: CARE Keeps D Debt Ratings in Not Cooperating
DIGITONE MOBILES: Insolvency Resolution Process Case Summary

DIVA RAVI: CARE Keeps B Debt Rating in Not Cooperating Category
DOLF LABS : Voluntary Liquidation Process Case Summary
ETC ENERGY: Insolvency Resolution Process Case Summary
FUTURISTICS METAL: Insolvency Resolution Process Case Summary
GAUTAM GARMENTS: CARE Keeps B+ Debt Rating in Not Cooperating

GLORY PRODUCTS: CARE Keeps B+ Debt Rating in Not Cooperating
GOKUL SUGAR: Insolvency Resolution Process Case Summary
GROWW AA: Voluntary Liquidation Process Case Summary
GVK POWER: Insolvency Resolution Process Case Summary
I-VANTAGE INDIA : Insolvency Resolution Process Case Summary

IPLAST INDUSTRIES: Voluntary Liquidation Process Case Summary
KEDAR INTERNATIONAL: Liquidation Process Case Summary
LAVA CAST: CARE Keeps D Debt Rating in Not Cooperating Category
LOTUS ORNAMENTS: CRISIL Withdraws B- Rating on INR37.7cr Loan
M. C. ROLLER: CARE Lowers Rating on INR18cr LT Loan to B-

MANUGRAPH INDIA: CRISIL Lowers Rating on INR10cr Cash Loan to D
MIND ENGINEERING: Voluntary Liquidation Process Case Summary
MUELLER PROST: Voluntary Liquidation Process Case Summary
PAMPA AGRO: CRISIL Reaffirms B Rating on INR3.14cr Term Loan
PRADHVI MULTITRADE: Insolvency Resolution Process Case Summary

PRAMATI SOFTWARE: Voluntary Liquidation Process Case Summary
R. K. FROZEN: CARE Keeps B- Debt Rating in Not Cooperating
RAM FIBRES: CRISIL Keeps B Debt Ratings in Not Cooperating
RASHMI METRO: Insolvency Resolution Process Case Summary
S V DISTRIBUTORS: Insolvency Resolution Process Case Summary

SEVENN PROTECTIVE: Insolvency Resolution Process Case Summary
SHAKTI LIFESCIENCE: CRISIL Hikes Rating on INR6cr Loan to B+
SHANDONG CHUNLONG: Insolvency Resolution Process Case Summary
SHIVACHAYA SUGARCANE: CARE Keeps D Debt Rating in Not Cooperating
SP AUTOMOBILES: CARE Keeps B- Debt Rating in Not Cooperating

SUPERLITE AAC: CARE Keeps B- Debt Rating in Not Cooperating
SURESH ANGADI: CARE Keeps D Debt Rating in Not Cooperating
TAKSHASHILA PROJECTS: Insolvency Resolution Process Case Summary
UJJAWAL SAWERA: CRISIL Keeps B+ Debt Rating in Not Cooperating
UNITED OILCHEM: CRISIL Assigns B Rating to INR61cr Term Loan

URANUS STONE: CRISIL Keeps B- Debt Ratings in Not Cooperating
VEGA JEWELDIAM: CARE Keeps D Debt Rating in Not Cooperating
VICEROY BANGALORE: CRISIL Keeps D Debt Ratings in Not Cooperating
VPHRASE ANALYTICS: Voluntary Liquidation Process Case Summary
YASH JEWELLERY: Liquidation Process Case Summary



N E W   Z E A L A N D

A1 REPAIRS: Court to Hear Wind-Up Petition on Aug. 20
BREWERS COOP: Creditors' Proofs of Debt Due on Aug. 22
HUMMING TECHNOLOGY: Creditors' Proofs of Debt Due on Sept. 13
LALL & SONS: Court to Hear Wind-Up Petition on Aug. 9
NIWOTTINI LIMITED: Creditors' Proofs of Debt Due on Aug. 27



S I N G A P O R E

AETNA GLOBAL: Creditors' Proofs of Debt Due on Sept. 6
EDUTECH LAB AP: Creditors' Proofs of Debt Due on Sept. 6
GAZELLE VENTURES: Faces Winding-Up Proceeding by Creditor
HARISH LOGISTICS: Court to Hear Wind-Up Petition on Aug. 23
MCX SINGAPORE: Commences Wind-Up Proceedings

YEN DESIGN: Court to Hear Wind-Up Petition on Aug. 23

                           - - - - -


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

BILLSON'S BEVERAGES: First Creditors' Meeting Set for Aug. 12
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of Billson's
Beverages Pty Ltd will be held on Aug. 12, 2024 at 11:00 a.m. via
virtual meeting only.

Robert Smith and Matthew Hutton of McGrathNicol were appointed as
administrators of the company on July 31, 2024.


G.J.S. REAL ESTATE: Second Creditors' Meeting Set for Aug. 12
-------------------------------------------------------------
A second meeting of creditors in the proceedings of G.J.S. Real
Estate Pty Ltd has been set for Aug. 12, 2024 at 10:00 a.m. at the
offices of LangdonGrant at Suite 209, 134 Logis Boulevard in
Dandenong South.

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 Aug. 9, 2024 at 1:00 p.m.

Paul Langdon of LangdonGrant was appointed as administrator of the
company on July 22, 2024.


KIMBERLEY MEAT: Canadian Fund Gains Preliminary OK to Buy Plant
---------------------------------------------------------------
Beef Central reports that Canadian pension fund AimCo has expanded
its footprint in the northern Australian beef industry, agreeing to
terms with administrators KordaMentha to purchase the beleaguered
Kimberley Meat Co beef processing plant in Western Australia's
remote Northeast.

Beef Central, citing an ABC report, relates that the deal has
received initial approval from administrators, but awaits Foreign
Investment Review board approval. Creditors involved in the
collapsed Kimberley Meat Co have voted to accept a deed of company
arrangement proposal from AIMCo.

AimCo, standing for Alberta Investment Management Corporation,
already has pastoral assets in the region, having earlier purchased
Yougawalla Pastoral Co, an operation across seven pastoral leases
on 2.9 million hectares of rough Kimberley country.

AIMCo is one of Canada's largest institutional investment managers,
investing globally on behalf of pension, endowment and government
funds in the Alberta province. The company has invested in
Australia for many years, firstly in forestry and most recently in
agriculture through the acquisition of mixed-farming business
Lawson Grains in January 2022.

It has since added two grazing/farming holdings in New South Wales:
Jemalong Station near Forbes, and Green Park near Rand.

According to Beef Central, the Kimbery deal is understood to
include both the Kimberley Meat Co processing plant assets, plus
associated cattle properties Yeeda and Mt Jowlaenga stations
outside Broome held under parent company Yeeda Pastoral Co. The
Yeeda pastoral aggregation covers 475,000 hectares of mostly
leasehold country. Included in the offering were around 13,800
cattle, counted in a partial muster in October last year.

Beef Central says the Kimberley processing assets will be managed
through TLPH Holdings while AimCo's Australian agriculture
investment manager New Agricultre, established to both manage
Lawson Grains and to build a portfolio of agriculture assets
globally, starting in Australia and New Zealand, will manage the
pastoral assets alongside the Yougawalla pastoral interests.

New Agriculture is backed by New Forests, founded in 2005 in Sydney
as a global investment manager of nature-based real assets.

Sources suggest the Kimberley Meat Co plant will be readied for
operations starting around February or March next year, processing
a combination of company-owned and bought cattle, mostly
manufacturing types, for export, Beef Central relays.

Beef Central says the new owners could hardly have timed their
entry into Australian meat processing more favourably, with
considerable momentum in export demand and prices being seen this
year - especially for frozen manufacturing beef like that produced
out of KMC growing by the day.

Kimberley Meat Co is Australia's most remote beef processing
facility of any scale, located about 100km southwest of Derby. The
next nearest processing plants are located 2400km away near Perth,
or 2700km away in South Australia.

In a letter delivered to Yeeda Pastoral Co creditors, AIMCo's
Jonathan Braams said the company intended to recommission the plant
under new management, adds Beef Central. Strong animal welfare,
environmental, social and governance standards would be put in
place, the letter read.

In mid-May, administrators Richard Tucker, Anthony Miskiewicz and
David Osborne from KordaMentha closed expressions of interest in
the Kimberley Meat Co plant plus grazing assets, Beef Central
recalls. A source close to the sale process said at the time that
'significant interest' had been shown from both domestic and
offshore inquiry in the processing facility, but he declined to
offer a number about how many formal expressions had been
received.

"Interested parties know there is an absolute obligation to sell.
That does not necessarily mean it sells at a bargain basement
price, it's about creating market tension to get a fair price," he
said.

An earlier administrators' earlier report suggested the companies
were AUD103 million in debt at the time they entered voluntary
administration, split roughly equally between secured and unsecured
creditors. The largest was the Commonwealth Bank of Australia, owed
AUD43.6 million, Beef Central discloses.

David Osborne, Richard Tucker and Tony Miskiewicz of KordaMentha
were appointed as administrators of Kimberley Meat Company on  Feb.
27, 2024 and to its parent company Yeeda Pastoral Company and
several associated companies on Feb. 29, 2024.


LUCIS PTY: First Creditors' Meeting Set for Aug. 12
---------------------------------------------------
A first meeting of the creditors in the proceedings of Lucis Pty
Ltd will be held on Aug. 12, 2024 at 2:00 p.m. via virtual meeting
only.

Ernie Chou and Trent McMillen of MaC Insolvency were appointed as
administrator of the company on Aug. 1, 2024.


MSQUARE ENERGY: Second Creditors' Meeting Set for Aug. 12
---------------------------------------------------------
A second meeting of creditors in the proceedings of Msquare Energy
Pty Ltd has been set for Aug. 12, 2024 at 10:00 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 Aug. 9, 2024 at 4:00 p.m.

Duncan Clubb and Andrew Sallway of BDO were appointed as
administrators of the company on July 18, 2024.


NOUMI LTD: Ordered to Pay AUD5MM Penalty for Disclosure Breaches
----------------------------------------------------------------
The Federal Court has ordered food manufacturer Noumi Limited to
pay a penalty of AUD5 million after it admitted to breaching its
continuous disclosure obligations by overstating the value of
inventory.

The Court found Noumi, when it was trading as Freedom Foods, failed
to disclose material information about the value of inventories in
its financial reports for the full year ending  June 30, 2019
(FY19) and the half year ending Dec. 31, 2019 (HY20). Those
accounts were overstated by AUD31.77 million in FY19 and AUD36.6
million in HY20 as a result of the inclusion of the unsaleable
inventory.

The Court also found Noumi's HY20 disclosed revenue from sale of
goods was overstated by at least AUD9.8 million and its HY20
disclosed profit was overstated by at least AUD8.5 million.

ASIC Deputy Chair Sarah Court said, 'Companies have a fundamental
responsibility to ensure compliance with their continuous
disclosure obligations. By failing to do so, they not only cause
harm to investors by denying them the information they are entitled
to, they also erode confidence in Australia's financial markets.'

Noumi was ordered to pay a contribution to ASIC's legal costs. The
penalty is to be paid by Noumi by way of three separate
instalments.

Noumi admitted the contraventions, consented to orders being made
and the parties made joint submissions on penalty and costs.

Noumi is an Australian company listed on the ASX in the business of
manufacturing and selling dairy and plant-based beverages and
nutritional products. Prior to 2021, Noumi also manufactured and
sold cereals and snack food products.

Noumi traded as Freedom Foods until Nov. 30, 2021.

ASIC commenced civil penalty proceedings against Noumi and its
former managing director and CEO Rory Macleod and its former CFO
Campbell Nicholas on Feb. 24, 2023.  

ASIC's proceedings against Mr. Macleod and Mr. Nicholas are
ongoing.


RESPONSIBLE ENTITY: Second Creditors' Meeting Set for Aug. 12
-------------------------------------------------------------
A second meeting of creditors in the proceedings of Responsible
Entity Services Limited has been set for Aug. 12, 2024 at 12:00
p.m. via online video conference.

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 Aug. 9, 2024 at 5:00 p.m.

Rachel Burdett and Barry Wight of Cor Cordis were appointed as
administrators of the company on March 26, 2024.


REX AIRLINES: Australia So Hard for Third Carrier to Survive
------------------------------------------------------------
News.com.au reports that an aviation expert said the Australian
market is "simply too small" for a third carrier to sustain itself
following the collapse of regional airline Rex.

After attempts to compete with Qantas and Virgin Australia and tap
into metropolitan markets, Regional Express fell into voluntary
administration on July 30, news.com.au relates.

While flights to and from regional cities will continue, Boeing 737
jets flying between Melbourne, Sydney and Brisbane immediately
ceased operations.

According to news.com.au, University of NSW aviation lecturer Ian
Douglas said as high traffic routes, Australia's capital cities
were among the most "valuable city pairs on the planet" and were an
increasingly "difficult" market to break into.

"We're in a situation where it's a very difficult ask to get a
third carrier in the market," Dr. Douglas told NewsWire.

"It's almost a bit surprising that there's a viable second one in
some ways."

As Qantas secures two-thirds of the market operating between major
cities and Virgin Australia services two-thirds of the remaining
traffic, Dr. Douglas explained there was very little room for Rex
to capture the "better paying corporate traffic," news.com.au
relays.

"What you're essentially doing is saying I'm going to be a carrier
selling to leisure travellers, people who are more cost conscious,
less time focused . . . I'm not going to get as much money for
doing that," news.com.au quotes Dr. Douglas as saying.

"I'm flying the same aircraft . . . they burn the same fuel,
they've got the same navigation charges, the same airport handling
fees, so the cost doesn't change, the revenue changes."

News.com.au relates that Dr. Douglas said Rex was attempting to
"elbow their way" into a highly competitive market without the
tools that Qantas and Virgin have at their disposal, such as
international alliances.

Rex's collapse comes just three months after regional carrier Bonza
fell victim to Australia's heavily concentrated aviation industry
after only 15 months in operation.

News.com.au adds that Dr. Douglas said Rex's entry into voluntary
administration was unlikely to impact airfare structures or seat
availability for passengers travelling between Melbourne, Sydney
and Brisbane.

"Rex was a relatively small player, and the other carriers are
easily in a position to service that market as they want to and
meet the demand," he said.

Addressing fears Rex's downfall could further isolate regional
areas of Australia, Dr. Douglas said it was "enormously important"
that remote regions across the country continued to have access to
east coast education, markets and medical care.

"You're talking about the difference between an hour or two flying
and a day or more of driving," he said.

"It's really an essential service."

According to news.com.au, Rex's collapse follows internal
instability after the company's biggest shareholder and executive
chair Lim Kim Hai was unexpectedly replaced by deputy chair John
Sharp.

Following the board shake-up, Mr. Lim moved to request the removal
of Mr. Sharp and three other directors from the board and sought
the addition of two new positions.

Mr. Douglas said while in hindsight it was easy to say "recent
board upsets" should have been a "warning sign", Australia should
have "expected something was happening".

                         About Rex Airlines

Regional Express Pty. Ltd., trading as Rex Airlines (and as
Regional Express Airlines on regional routes), is an Australian
airline based in Mascot, New South Wales. It operates scheduled
regional and domestic services. It is Australia's largest regional
airline outside the Qantas group of companies and serves all 6
states across Australia. It is the primary subsidiary of Regional
Express Holdings.

Samuel Freeman, Justin Walsh, and Adam Nikitins of Ernst & Young
Australia (EY Australia) have been appointed Joint and Several
Voluntary Administrators by the Rex Group's respective Boards of
Directors. The companies in administration are:

     * Regional Express Holdings Limited;
     * Regional Express Pty Limited;
     * Rex Airlines Pty Ltd;
     * Rex Investment Holdings Pty Limited; and
     * Air Partners Pty Ltd.


ZIP MASTER 2024-2: S&P Assigns Prelim. 'BB' Rating on Cl. E Notes
-----------------------------------------------------------------
S&P Global Ratings assigned its preliminary ratings to five classes
of notes to be issued by Perpetual Corporate Trust Ltd. as trustee
of Zip Master Trust – Series 2024-2. Zip Master Trust – Series
2024-2 is a securitization of a buy now, pay later line of credit
receivables to consumers originated by zipMoney Payments Pty Ltd.
(Zip).

The preliminary ratings reflect the following factors:

-- S&P's view of the credit risk of the underlying collateral
portfolio, including the fact that the portfolio has an initial
revolving period, which means further receivables may be assigned
to the series after the closing date.

-- S&P views that the credit support provided to each class of
rated notes is commensurate with the ratings assigned. Credit
support is provided by subordination and excess spread, if any.

-- S&P's expectation that the various mechanisms to support
liquidity within the series, including a series-specific liquidity
facility, mitigates disruption risks to senior fees and ensures
timely payment of interest on the rated notes.

-- The transaction documents include downgrade language consistent
with S&P's counterparty criteria that requires the replacement of
the bank account provider and liquidity facility provider should
its rating on the providers fall below the applicable rating.

-- The legal structure of the master trust is established as a
special-purpose entity and meets S&P's criteria for insolvency
remoteness.

  Preliminary Ratings Assigned

  Zip Master Trust – Series 2024-2

  Class A, A$198,000,000: AAA (sf)
  Class B, A$26,700,000: AA (sf)
  Class C, A$17,400,000: A (sf)
  Class D, A$29,700,000: BBB (sf)
  Class E, A$13,200,000: BB (sf)
  Class G, A$15,000,000: Not rated




=========
C H I N A
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ANBANG INSURANCE: Wins Approval to Start Bankruptcy Proceedings
---------------------------------------------------------------
Caixin Global reports that China has given the green light to
Anbang Insurance Group Co. Ltd. to start bankruptcy proceedings,
marking the latest step in the government's years-long efforts to
manage the collapse of the sprawling financial conglomerate.

Caixin relates that the National Financial Regulatory
Administration, China's top financial regulator, announced the
in-principle approval on Aug. 2. The go-ahead came nearly four
years after the insolvent Chinese insurer announced its decision to
liquidate.

Anbang Insurance Group Co., Ltd., through its subsidiaries Anbang
Property Insurance Inc., Anbang Life Insurance Inc., Hexie Health
Insurance Co., Ltd, and Anbang Asset Management Co., Ltd., offered
property insurance, life insurance, health insurance, asset
management, insurance sales agency, and insurance brokerage
services. The company provides car insurance, accident insurance,
cargo transportation insurance, credit insurance, life-long
insurance, and medical insurance services.

As reported in the Troubled Company Reporter-Asia Pacific in
February 2018, The Strait Times related that the Chinese government
had seized control of Anbang Insurance, the troubled Chinese
company that owns the Waldorf Astoria hotel in New York and other
marquee properties around the world, and charged its former
chairman with economic crimes. The Strait Times noted that the move
is Beijing's biggest effort yet to rein in a new kind of Chinese
company, in this case, one that spent billions of dollars around
the world over the past three years buying up hotels and other
high-profile properties. The Strait Times noted the move also caps
the downfall of Anbang leader Wu Xiaohui. Mr. Wu was later
sentenced to 18 years in prison for fraud and embezzlement,
according to Reuters.

In July 2019, the China Banking and Insurance Regulatory Commission
(CBIRC) said the newly created Dajia Insurance Group will take over
several of Anbang Insurance's subsidiaries.  According to Caixin,
the insurance regulator said that Dajia will receive Anbang's
stakes in its life insurance, annuity insurance and asset
management subsidiaries, and some of the assets of its property and
casualty insurance unit.


CHINA EVERGRANDE: Sues Chairman, 6 Others to Recover USD6 Billion
-----------------------------------------------------------------
Yicai Global reports that China Evergrande Group, a property
developer in the liquidation process, has sued its chairman, six
other individuals and entities to recover a total of about USD6
billion worth of dividends and remuneration.

Evergrande's liquidators started legal proceedings in the High
Court of Hong Kong against Chairman Hui Ka Yan and his spouse or
former spouse Ding Yumei, former Chief Executive Officer Xia
Haijun, former Chief Financial Officer Pan Darong, and three more
entities associated with Hui and Ding, the Shenzhen-based firm
announced on Aug. 5, Yicai relays.

With the lawsuit, Evergrande seeks to "recover from the seven
defendants dividends and remuneration in an aggregate amount of
about USD6 billion paid by the company on the basis of allegedly
misstated financial statements for each of the financial years
ended Dec. 31, 2107, to Dec. 31, 2020," it noted, according to
Yicai.

Yicai says the lawsuit's legal procedures are underway, but there
are uncertainties as to whether Evergrande can win the lawsuit and
ultimately recover the USD6 billion, the firm pointed out.

Last September, Evergrande announced it received a notification
from relevant authorities that Hui had been subject to mandatory
measures in accordance with the law due to suspicion of illegal
crimes. It also informed investors that its shares had suspended
trading on Sept. 28.

In a statement on Aug. 5, Evergrande noted that its stock trading
will remain suspended until further notice, Yicai relates.

Evergrande announced on Jan. 29 that it was ordered to be wound up
by the High Court of Hong Kong. Edward Simon Middleton and Wing Sze
Tiffany Wong from management consulting firm Alvarez & Marsal Asia
were appointed as joint and several liquidators.

On March 18, Evergrande's unit Evergrande Real Estate Group
announced it had been administratively punished by the China
Securities Regulatory Commission for allegedly releasing false
financial information in its 2019 and 2020 earnings reports.

Evergrande used PricewaterhouseCoopers as its auditor for 14 years
between 2009 and January last year, when the pair broke their
partnership. Meanwhile, PwC issued unqualified opinions on
Evergrande's annual reports from 2009 to 2020, Yicai adds.

                      About China Evergrande

China Evergrande Group is an integrated residential property
developer. The Company, through its subsidiaries, operates in
property development, investment, management, finance, internet,
health, culture, and tourism markets.

China Evergrande Group, the second largest real estate developer in
China, and certain of its affiliates sought creditor protection in
the United States under Chapter 15 of the Bankruptcy Code (Bankr.
S.D.N.Y. Lead Case No. 23-11332) on Aug. 17, 2023.

Evergrande, widely known as the most leveraged company in the
world, and its affiliates are asking the U.S. Bankruptcy Court for
the Southern District of New York for recognition of foreign
proceedings as "foreign main" proceeding under Chapter 15.

Evergrande is in the midst of a highly complex restructuring of
around $20 billion in offshore debt.  In total, the Company has
more than $300 billion in liabilities.

Evergrande is incorporated in the Cayman Islands as an exempted
company with limited liability, with its principal place of
business located at 15th Floor, YF Life Centre, 38 Gloucester Road,
Wanchai, Hong Kong.  It is subject to a restructuring proceeding
entitled In the Matter of China Evergrande Group, concerning a
scheme of arrangement between Evergrande and certain Scheme
Creditors pursuant to the relevant provisions of the Hong Kong
Companies Ordinance (Chapter 622 of the Laws of Hong Kong),
currently pending before the High Court of Hong Kong (Case Number
HCMP 1091/2023.

Affiliate Tianji Holding Limited is incorporated in Hong Kong as a
limited liability company, with its principal place of business
located at 17th Floor, One Island East, Taikoo Place, 18 Westlands
Road, Quarry Bay, Hong Kong. Tianji is subject to a restructuring
proceeding entitled In the Matter of Tianji Holding Limited,
concerning a scheme of arrangement between Tianji and certain
Scheme Creditors, pursuant to the relevant provisions of the Hong
Kong Companies Ordinance and currently pending before the Hong Kong
Court (Case Number HCMP 1090/2023).

Affiliate Scenery Journey Limited is incorporated in the British
Virgin Islands as a limited liability company, with its principal
place of business located at 2nd Floor Water's Edge Building,
Wickham's Cay II, Road Town, Tortola, BVI. Scenery Journey is
subject to a restructuring proceeding entitled In the Matter of
Scenery Journey Limited, concerning a scheme of arrangement between
Scenery Journey and certain Scheme Creditors, pursuant to section
179A of the BVI Business Companies Act, 2004, and currently pending
before the High Court of the Eastern Caribbean Supreme Court (Case
Number BVIHCOM 2023/0076).

U.S. Bankruptcy Judge Michael E Wiles presides over the Chapter 15
proceedings.

Sidley Austin is the Hong Kong Counsel to Evergrande and Tianji.
Maples BVI is the British Virgin Island Counsel to Scenery
Journey.

On Jan. 29, 2024, a Hong Kong court ordered the liquidation of
China Evergrande Group.


COUNTRY GARDEN: Sales Drop 72% in July as Housing Woes Persist
--------------------------------------------------------------
Bloomberg News reports that Country Garden Holdings' sales slump
dragged on last month, adding to the Chinese developer's woes as it
tries to avoid liquidation.

Contracted sales for July dropped 72% from a year earlier to CNY3.4
billion, following a 73% slide in June, Bloomberg discloses citing
corporate filings. The tally was 21% lower from the previous
month.

The distressed real estate giant is counting on a turnaround in
sales to increase its survival chances, as it fights a wind-up
petition in a Hong Kong court following its 2023 default. Last
week, it was given more time to work on an offshore debt
restructuring plan when the case was adjourned to January.

"Buyer concerns around Country Garden's liquidity means they are
likely to avoid its projects until fully completed," Bloomberg
Intelligence analyst Kristy Hung said on Aug 1.

Country Garden's month-on-month decline in home sales is smaller
than the 36% slide at the 100 biggest real estate companies tracked
by China Real Estate Information, Bloomberg discloses.

A recent rescue package has failed to revive China's housing
market, which remains a major drag on economic growth. New home
prices dropped at close to the fastest pace in almost a decade in
June, giving people less reason to invest in property.

                   About Country Garden Holdings

Country Garden Holdings Company Limited (HKEX:2007), an investment
holding company, invests, develops, and constructs real estate
properties primarily in Mainland China. The company operates in two
segments, Property Development and Construction. It develops
residential projects, such as townhouses and condominiums; and car
parks and retail shops. The company also develops, operates, and
manages hotels. In addition, it researches and develops robots;
sells electronic hardware and food; and provides interior
decoration, agriculture, landscape design, investment and
management consulting, cultural activity planning, and real estate
consulting services.

As reported in the Troubled Company Reporter-Asia Pacific in late
February 2024, Kingboard Holdings-backed money lender Ever Credit
on Feb. 27, 2024, filed a winding-up petition against Country
Garden to the Hong Kong High Court for non-payment of a US$205
million loan.

The TCR-AP reported in late March 2024 that Country Garden has
hired Kroll to carry out a liquidation analysis. Kroll, the New
York-headquartered financial advisory firm, is expected to conduct
an independent business review of Country Garden before projecting
a recovery rate for the developer's creditors under a liquidation
scenario, according to Reuters.

The developer defaulted on US$11 billion of offshore bonds last
year and is in the process of an offshore debt restructuring.




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

AGS MANAGEMENT: Liquidation Process Case Summary
------------------------------------------------
Debtor: AGS Management Services Pvt Ltd
H.No. 1-36-98, Plot No-27, Phase-2, Paigh House
        SP Road, Secunderabad
        Telangana, India, 500003

Insolvency Commencement Date: June 11, 2024

Court: National Company Law Tribunal Hyredabad Bench

Liquidator: Sreenivasa Rao Ravinuthala
     F 26, Raghaya Ratna Towers, Chirag Ali Lane,
            Abids Hyderabad-500001
            Email: cma.ravisrao@gmail.com
            Email: agsmanagement.ibc@gmail.com

Last date for
submission of claims: July 11, 2024


ATHENA DEMWE: Jindal Power, Vedanta & 4 Others in Race for Company
------------------------------------------------------------------
The Economic Times reports that six companies including Vedanta,
Jindal Power and an arm of JSW Energy are in the race to acquire
Athena Demwe Power, which owns the 1,750-MW Lower Demwe
hydroelectric project in Arunachal Pradesh, through the insolvency
resolution process, people in the know said.

"These companies have been recognised as prospective resolution
applicants (PRAs) so far," ET quotes one of the sources as saying.
"The eligibility of the PRAs has to be checked based on eligibility
criteria as fixed by the CoC (committee of creditors)," the person
added.

The Lower Demwe project on the Lohit River is perceived to be of
great strategic and national importance. It was granted
environmental clearance in 2010 but was delayed due to pending
forest clearances.

Currently, the company has admitted liabilities of over INR567
crore, ET discloses.

Athena Demwe was admitted for insolvency resolution process in 2017
and the CoC even accepted a revival plan submitted by Sikkim Power
Investment Corporation, ET recalls. However, when the plan came for
the approval of the National Company Law Tribunal (NCLT), the
resolution professional and lenders said the winning bidder failed
to furnish required bank guarantee.

ET relates that the tribunal, in April, directed the RP and lenders
of Athena Demwe to invite fresh resolution plans while extending
the period of Corporate Insolvency Resolution Process (CIRP) for
120 days.

Sikkim Power Investment challenged the order before the National
Company Law Appellate Tribunal (NCLAT), ET notes.

According to ET, the appellate tribunal on July 26 dismissed the
appeal, but granted Sikkim Power Investment two weeks to submit a
fresh revival plan that the Athena Demwe RP and CoC may consider
along with the other bids. Under the insolvency process, once the
PRAs are declared, the resolution professional shares with them the
information memorandum and request for resolution plan (RFRP), and
provides them access to the data room (if any), legal experts
said.

"Based on this information, the applicants will submit their plans
which will be placed before the CoC for approval," explained Ashish
Pyasi, partner at Aendri Legal.


AUTOCREATE WHEELS: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Autocreate Wheels Private Limited
B/301, Amaltas CHS Ltd.
        Juhu Versova Link Road
        Andheri-West, Mumbai
        Maharashtra, India, 400048

Insolvency Commencement Date: July 16, 2024

Estimated date of closure of
insolvency resolution process: January 11, 2025 (180 Days)

Court: National Company Law Tribunal, Mumbai Bench

Insolvency
Professional: Kamal Rajkumar Sharma
       Office No. 40, 1st Floor, 9/15, Moraji Velji Building,
              Dr. M B Velkar Street, Marine Lines EUR,
              Mumbai, Maharashtra, 400002
              Email: kamal.sharma@ajallp.in
              Email: cirp.autocreativewheels@outlook.com

Last date for
submission of claims: July 30, 2024


B K RICE: CARE Keeps B- Debt Rating in Not Cooperating Category
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of B K Rice
Industries (BKRI) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      12.97       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 14, 2023,
placed the rating(s) of BKRI under the 'issuer non-cooperating'
category as BKRI had failed to provide information for monitoring
of the. BKRI continues to be noncooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated April 29, 2024, May 9, 2024, May 19,
2024.

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).

Karnataka based B K Rice Industries was established as a
partnership concern, in 2017, by Mr. Nagaraj and Ms. S Vishalakshi
for doing the business of rice milling and processing. The
construction of the manufacturing unit was completed in March 2018
and the commercial operations commenced in May 2018. The firm
sources its raw material, paddy, from local farmers in and around
Karnataka and sells mostly to Tamil Nadu, Maharashtra and Karnataka
their finished product i.e; rice, broken rice and rice bran. The
rice mill has an installed capacity of 08 tons per hour.

BALAJI ENTERPRISES: CARE Keeps C Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Balaji
Enterprises-Lucknow (BEL) continue to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       9.50       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

   Short Term Bank     11.25       CARE A4; 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 July 13, 2023,
placed the rating(s) of BEL under the 'issuer non-cooperating'
category as BEL had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. BEL continues to
be non-cooperative despite repeated requests for submission of
information through emails, phone calls and a letter/email dated
May 28, 2024, June 7, 2024 and June 17, 2024.

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).

Lucknow (Uttar Pradesh (UP) based Balaji Enterprises (BEL) was
established in 2008 as a partnership concern by Mr Navneet Kumar
Pandey, Mr Nirmal Kumar Pandey and Mr Vinay Kumar Pandey. It is
engaged in toll collection activity at Dakshina Shekhpur,
Aadityapur Kandra and Maranga Toll Plaza in UP. Further BEL has
undertook its Real-Estate Project named 'Landmark' with total
saleable area of 123070 Sq. Feet having 73 flats consisting of 33
flats of 2BHK, 35 flats of 3BHK, 3 flats of 4BHK and 2 penthouse in
Lucknow with an average sale value of INR3072 per sq. feet.


BHIMASHANKAR AGRO: CARE Keeps B- Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of
Bhimashankar Agro Coldchain & Processingproducer Company Limited
(BACPCL) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.12       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 29, 2023,
placed the rating(s) of BACPCL under the 'issuer non-cooperating'
category as BACPCL had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. BACPCL
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and a
letter/email dated May 14, 2024, May 24, 2024 and June 3, 2024.

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).

BACPCL is a limited company incorporated in June 2016. BACPCL is
engaged in the business of cold storage plant with an installed
capacity to process and store around 5000 MT of potatoes.

BHOPAL TRACTORS: CARE Lowers Rating on INR12cr LT Loan to B+
------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Bhopal Tractors Private Limited (BTPL), as:

                       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 and
                                   Revised from CARE BB-; Stable

   Long Term/Short      3.00       CARE B+; Stable/CARE A4;
   Term Bank                       ISSUER NOT COOPERATING;
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category and Revised from
                                   CARE BB-; Stable/CARE A4

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated June 2, 2023,
placed the rating(s) of BTPL under the 'issuer non-cooperating'
category as BTPL had failed to provide information for monitoring
of the rating. BTPL continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated April 17, 2024, April 27,
2024, May 7, 2024.

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 BTPL have been
revised on account of non-availability of requisite information.
The revision also factored in increased debt levels which has led
to deterioration in debt coverage indicators during FY23.

Analytical approach: Standalone

Outlook: Stable

Incorporated in September 2000, Bhopal Tractors Pvt Ltd (BTPL) is
promoted by Mr. Lavesh Kumar Agarwal and his family members, having
a good experience in managing automobile dealership business. BTPL
is stockist and C&F agent for Sonalika tractors (International
Tractors Limited) in the state of Madhya Pradesh and Uttar Pradesh.
Apart from this, BTPL is also engaged in distribution of other
agri-machineries such as tillers, rotavators of Tirth Agro
Technology Pvt. Ltd. and pumps and diesel engines of Fieldmarshal
(P.M. Diesels Pvt. Ltd.). BTPL belongs to the Somya group
headquartered in Gwalior, Madhya Pradesh which are also engaged in
auto dealerships.

DATTA KRUPA: Liquidation Process Case Summary
---------------------------------------------
Debtor: Datta Krupa Roller Flour Mill Private Limited
Plot No. C, 32-34 MIDC, Parbhani,
        Maharashtra, India, 431401

Insolvency Commencement Date: July 29, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: Mahesh G. Bagla
     Office No. 304, Gera Junction,
            Lulla Nagar Signal,
            Kondhwa Road, Pune - 411040, MH, India
            Email: dattakrupa.ibc@gmail.com
            Email: maheshgbagla@gmail.com

Last date for
submission of claims: August 8, 2024


DHARANI SUGARS: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Dharani
Sugars and Chemicals Limited (DSCL) continue to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      573.71      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      27.11      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 May 15, 2023,
placed the rating(s) of DSCL under the 'issuer non-cooperating'
category as DSCL had failed to provide information for monitoring
of the rating. DSCL continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated March 30, 2024, April 9, 2024,
April 19, 2024.

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).

Dharani Sugars and Chemicals Limited (ISIN Number: INE988C01014),
part of the PGP group of companies based in Tamil Nadu was
established in the year 1987 by Dr Palani G Periyasamy and his NRI
Associates. The company is engaged in the manufacture of sugar,
industrial alcohol, and co-generation of power. DSCL has three
sugar mills located across Tamil Nadu. These units are in Dharani
Nagar (Tirunelveli Dist.), Sankarapuram (Villupuram Dist.) and
Polur (Thiruvannamalai Dist). Aggregate capacity of the company as
on March 31, 2018, was 10,000 tonnes of cane crushed per day (TCD),
160 Kilo Liter per day (KLPD) Distillery and 37 MW cogeneration
plant.


DIGITONE MOBILES: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: Digitone Mobiles Private Limited
        Registered Address:
        B-S3 Ground Floor Sector-63,
        Gautam Buddha Nagar, Noida,
        Uttar Pradesh, India, 201301

Insolvency Commencement Date: July 5, 2024

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: December 31, 2024

Insolvency professional: Ankush Munjal

Interim Resolution
Professional: Ankush Munjal
              B-5/128, Paschim Vihar
              First Floor, New Delhi - 110063
              Email caankush.bs@gmail.com
              E-Mail: cirp.digitone@gmail.com

Last date for
submission of claims: July 19, 2024


DIVA RAVI: CARE Keeps B Debt Rating in Not Cooperating Category
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Diva Ravi
Agro and Founders Private Limited (DRAFPL) 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 and key rating drivers

CARE Ratings Ltd. had, vide its press release dated June 1, 2023,
placed the rating(s) of DRAFPL under the 'issuer non-cooperating'
category as DRAFPL had failed to provide information for monitoring
of the rating. DRAFPL continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated April 16, 2024, April 26,
2024, May 6, 2024.

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

Diva Ravi Agro And Founders Private Limited (DRAFPL) incorporated
in November 05, 2008 is currently being managed by Mr. Mohit
Beriwal, Mr. Ritesh Beriwal and Mrs. Shailja Beriwal based out of
Kolkata, West Bengal. The company has started its commercial
operation from December 12, 2018 and it been engaged in
manufacturing of ductile & cast iron. The manufacturing unit of the
company is located at Jamalpur, Burdwan, West Bengal. The company
has started exporting its products to USA from
September 2019.

DOLF LABS : Voluntary Liquidation Process Case Summary
------------------------------------------------------
Debtor: Dolf Labs Private Limited
55, 2nd Floor, Lane 2,
        Westend Marg Saidulajab
        New Delhi 110030

Insolvency Commencement Date: July 25, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: CA Chetan Shah
     No. 3, Wing-A, Satyam Shopping Centre,
            M.G, Road, Ghatkopar
            East Mumbai 400077
            Email: doflabsliquiadation@gmail.com
            Email: chetantshah@hotmail.com
            Tel No: 9821277414

Last date for
submission of claims: August 24, 2024


ETC ENERGY: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: M/S ETC Energy Therapy Co. Pvt Ltd
12-B Ganga Vihar, Raheja Township  
        Malad (East), Mumbai
        Maharashtra, India - 400097

Insolvency Commencement Date: July 12, 2024

Estimated date of closure of
insolvency resolution process: January 14, 2025

Court: National Company Law Tribunal, Mumbai Bench

Insolvency
Professional: Hirachand N Bafna
       21A, 1st floor, Soni Bhavan, 47/51,
              Kalbadevi Road, Mumbai - 400002
              Email: hnb1502@rediffmail.com
              Email: etcenergy.cirp@gmail.com
              Contact No: 8850582026

Last date for
submission of claims: August 1, 2024


FUTURISTICS METAL: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Futuristics Metal Trading Private Limited
B-104, Fourth Floor DDA Sheds,
        Okhla Industrial Area Phase-I
        New Delhi - 110020 Delhi

Insolvency Commencement Date: July 2, 2024

Estimated date of closure of
insolvency resolution process: December 29, 2024

Court: National Company Law Tribunal, Delhi Bench

Insolvency
Professional: Chiranjib Chakraborty
       Cg- 227, Salt Lake City,
              Kolkata-700091
              Email: chiranjib2878@gmail.com

              307, Prakash Deep Building
              Tolstoy Marg, Connaught Place,
              New Delhi-11001
              Email: ip.futuristics@rediffmail.com

Last date for
submission of claims: July 16, 2024


GAUTAM GARMENTS: CARE Keeps B+ Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shri Gautam
Garments Private Limited (SGGPL) 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 July 4, 2023,
placed the rating(s) of SGGPL under the 'issuer non-cooperating'
category as SGGPL had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. SGGPL continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 19, 2024, May 29, 2024 and June 8, 2024.

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).

Ghaziabad, Uttar Pradesh based Shri Gautam Garments Private Limited
was incorporated in 2012. The company is currently managed by Mr.
Anil Jain and Mr. Deepak Jain. SGGPL is engaged in the
manufacturing of Lowers for Men, women (Capris, Bermuda's etc) and
kids at its unit located in Uttar Pradesh.


GLORY PRODUCTS: CARE Keeps B+ Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Glory
Products Private Limited (GPPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.00       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 2, 2023,
placed the rating(s) of GPPL under the 'issuer non-cooperating'
category as GPPL had failed to provide information for monitoring
of the rating. GPPL continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated April 17, 2024, April 27,
2024, May 7, 2024.

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

Glory Products Private Limited (GPPL) was incorporated in January
2012 by Mr. Arun Kumar Agarwal and Mr. Ankit Bansal with its
facility located at Rabindra Sarani, Kolkata. The company is
primarily engaged in trading of rexine. This apart, it is also
engaged in manufacturing of galvanized iron channels. The company
supplies rexine to customers all over East, South and North India.
The company has its plant located at Panihati, West Bengal with a
capacity to produce 250 tons of galvanized iron channels per day.
Mr. Arun Kumar Agarwal has around three decades of experience in
the same line of industry & looks after the day to day operations
of the company. He is ably supported by other director Mr. Ankit
Bansal along with the team of experienced professionals who have a
rich experience in similar line of business.


GOKUL SUGAR: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Gokul Sugar Industries Limited
        Registered Address:
        Datta Nagar At and Post Dhotri Taluka
        South Solapur,
        Maharashtra, India, 413258

Insolvency Commencement Date: June 27, 2024

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: Janaury 5, 2025

Insolvency professional: Neehal Mahamulal Pathan

Interim Resolution
Professional: Neehal Mahamulal Pathan
              Plot No. 27, R.S. No. 825,
              Sahjeevan Parisar,
              Near TPM Church,
              Behind Circuit House,
              Kolhapur 416 003 MH
              E-mail: cirp.gokul01@gmail.com

Last date for
submission of claims: July 29, 2024


GROWW AA: Voluntary Liquidation Process Case Summary
----------------------------------------------------
Debtor: Groww AA Private Limited
        Vaishnavi Tech Park, South Tower,
        4th Floor, Survey No.16/1 and 17/2,
        Ambalipura Village, Varthur Hobli,
        Bellandur, Bangalore, Bangalore South,
        Karnataka, India, 560103

Liquidation Commencement Date: July 19, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Pranav J. Damania
            407, Sanjar Enclave,
            Opposite Milap Cinema,
            S.V Road, Kandivali West, Mumbai – 400067
            Email: pranav@winadvisors.co.in
            Contact No: +91 98204 69825

Last date for
submission of claims: August 18, 2024


GVK POWER: Insolvency Resolution Process Case Summary
-----------------------------------------------------
Debtor: GVK Power & Infrastructure Ltd.
Darshak Chambers, Plot No 32, Ground Floor,
        H.No 1-8-303/48/32 Street No 1
        Penderghast Road,
        Secunderabad, Hyderabad,
        Telangana, India 500003

Insolvency Commencement Date: July 15, 2024

Estimated date of closure of
insolvency resolution process: January 11, 2025 (180 Days)

Court: National Company Law Tribunal, Hyderabad Bench

Insolvency
Professional: Satish Kumar Gupta
       Flat No. 17012, Building No. 17, Phase 2,
              Kohinoor City, Kurla West,
              Mumbai, Maharashtra - 400070
              Email: satishg19@outlook.com

              Darshak Chambers
              Plot No 32, Ground Floor,
              H.No 1-8-303/48/32 Street No 1
              Penderghast Road,
              Secunderabad, Hyderabad,
              Telangana, India 500003
              Email: gvkpilcirp@gmail.com

Last date for
submission of claims: July 29, 2024


I-VANTAGE INDIA : Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: I. Vantage India (P) Limited
8-2-269/10, Suite No. 501, 5th floor,
        Trendset Towers, Road No. 2,
        Banjara Hills, Hyderabad TG - 500034

Insolvency Commencement Date: July 8, 2024

Estimated date of closure of
insolvency resolution process: April 4, 2025

Court: National Company Law Tribunal, Mumbai Bench

Insolvency
Professional: Mr. Murali Mohan Chevuturi
              Flat No. 201, Dream Home Vasista
              Plot No. 9, Baraf Bagh Colony
              Lower Tank Bund Road
              Hyderabad - 500029
              Email: mohan.chevuturi@gmail.com

              Plot No. 1, SLV Bhavan, D.No. 1-2-597/4&5
              Barafbagh Colony, Lower Tank Bund,
              Hyderabad - 500029
              Email: cirpvintage@gmail.com

Last date for
submission of claims: July 22, 2024


IPLAST INDUSTRIES: Voluntary Liquidation Process Case Summary
-------------------------------------------------------------
Debtor: Iplast Industries Private Limited
508, Aurum Building
        Near Vasna Petrol Pump
        Makarand Desai Road
        Vadodara, Gujarat
        India, 390015

Insolvency Commencement Date: July 19, 2024

Court: National Company Law Tribunal Vadodara Bench

Liquidator: Kashyap Shah
     8-203, ManubhaiTowers
            Opposite M S University
            Sayajigunj, Vadodara 390020
            Email: kashyap.cs.ip@gmail.com
            Tel No: 0265-2362244

Last date for
submission of claims: August 8, 2024


KEDAR INTERNATIONAL: Liquidation Process Case Summary
-----------------------------------------------------
Debtor: Kedar International Exim Private Limited
        B - 314 Kalpataru Plaza
        Bhawani Peth, Pune - 411042
        Maharashtra Bharat

Liquidation Commencement Date: July 15, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Charudutt Pandhrinath Marathe
            Gomed, 915, Khare Town
            Dharampeth, Nagpur - 440010
            Email: CharuduttM@yahoo.co.in
            Email: Liquidator.KedarExim@gmail.com

Last date for
submission of claims: August 14, 2024


LAVA CAST: CARE Keeps D Debt Rating in Not Cooperating Category
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Lava Cast
Private Limited (LCPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank     156.70       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 26, 2023,
placed the rating(s) of LCPL under the 'issuer non-cooperating'
category as LCPL had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. LCPL continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 11, 2024, May 21, 2024 and May 31, 2024.

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).

Lava Cast Pvt. Ltd. (LCPL) is engaged in the developing and
manufacturing of fully machined ferrous casting products for the
automotive and other industries. The LCPL foundry is setup at
Kalol, Gujarat. Initially, LCPL was formed as a JV between SAL
and Lingotes Especiales S.A. in the ratio of 80:20 in May, 2011. It
is a backward integration project of SAL for the manufacturing of
Automotive Grade Castings.

LOTUS ORNAMENTS: CRISIL Withdraws B- Rating on INR37.7cr Loan
-------------------------------------------------------------
Due to inadequate information, CRISIL Ratings, in line with SEBI
guidelines, had migrated the ratings of Lotus Ornaments Private
Limited (LOPL) to 'CRISIL D/CRISIL D Issuer Not Cooperating'.
However, the management has subsequently started sharing the
information required for carrying out a comprehensive review of the
ratings. Consequently, CRISIL Ratings is migrating its rating to
'CRISIL B-/Stable'. CRISIL Ratings subsequently withdrawn its
ratings at the company's request and on the receipt of 'no
objection certificate' from the bank. The withdrawal is in line
with CRISIL's policy on withdrawal of bank loan ratings. The rating
action is in line with CRISIL Ratings' policy on withdrawal of bank
loan ratings.

                        Amount
   Facilities        (INR Crore)      Ratings
   ----------        -----------      -------
   Fund-Based            7.25         CRISIL B-/Stable (Rating
   Facilities                         Migrated and Withdrawn)

   Fund-Based           37.70         CRISIL B-/Stable (Rating
   Facilities                         Migrated and Withdrawn)

   Fund-Based           19.75         CRISIL B-/Stable (Rating
   Facilities                         Migrated and Withdrawn)

   Fund-Based           14.75         CRISIL B-/Stable (Rating
   Facilities                         Migrated and Withdrawn)

   Proposed Fund-       25.64         CRISIL B-/Stable (Rating
   Based Bank Limits                  Migrated and Withdrawn)

   Working Capital       7.32         CRISIL B-/Stable (Rating
   Term Loan                          Migrated and Withdrawn)

   Working Capital       3.48         CRISIL B-/Stable (Rating
   Term Loan                          Migrated and Withdrawn)

   Working Capital       2.60         CRISIL B-/Stable (Rating
   Term Loan                          Migrated and Withdrawn)


   Working Capital       1.51         CRISIL B-/Stable (Rating
   Term Loan                          Migrated and Withdrawn)

The rating continues to reflect LOPL's susceptibility of LOPL's
operations due volatility of diamond and gold prices and working
capital intensive nature of operations and leveraged capital
structure. These weaknesses are partially offset by extensive
experience of the promoters in the diamond industry.

Analytical Approach

CRISIL Ratings has treated preference shares of INR416 crore and
unsecured loans of INR107.8 Cr outstanding as on March 2024 as
debt.

Key Rating Drivers & Detailed Description

Weaknesses:

* Susceptibility to volatile diamond prices amidst intense
competition resulting in moderate operating profit margins: High
fragmentation driven by low entry barriers like low capital and low
technological requirements has led to intense competition in the
industry. Intense competition in the industry coupled with volatile
gold and diamond prices has led to volatile operating margins.

The operating margins of the company have been in the range of
2.35%-4.5% over the last five fiscals through fiscal year
2024.Sustained improvement in the operating margins amidst intense
competition, slower demand and volatile gold and diamond prices
will remain a key rating sensitivity factor.

* Working capital intensive nature of operations: LOPS's operations
continue to remain working capital intensive. Working capital days
reduced to 425 days as on March 31, 2024, against 531 days as on
March 31, 2023.  The reduction in working capital cycle was mainly
due to an lower inventory days from 189 days as on March 31, 2023
to 103 days as on March 31, 2024. Debtor days of the company
continue to remain high in the range of 280-350 days over the past
fiscals. These working capital requirements are majorly met by bank
lines and creditors.

* Leveraged capital structure: LOPL has moderate capital structure
with healthy networth at INR119 Cr as on March 31, 2024.  Reliance
on debt has led the gearing ratio to be high at 5.19 time as on
March 31, 2024.
Debt protection metrics of the company are also average with
interest coverage estimated at 1.53 times and net cash accruals to
adjusted debt estimated at 0.01 time for fiscal year 2024

Strength:

* Extensive experience of promoters: Extensive experience of
promoters of over 3 decades has led to established market position
of the company in domestic and international markets. This
experience has also led to understanding of industry cycles and
long-standing relationships with customers and suppliers.

Liquidity: Stretched

The liquidity of the company is stretched, marked by the net cash
accruals expected to be over INR5.9 Cr against repayment
obligations of INR5.76 Cr for fiscal 2025. Bank limit utilization
is high averaging at 99% for the last 12 months ended May 2024.

The current ratio is estimated to be healthy at 6.98 times as on
March 31, 2024. Moreover, the company has no major capex plans over
the medium term.

Outlook: Stable

CRISIL Ratings believes LOPL will continue to benefit over the
medium term from the extensive experience of promoters.

Rating Sensitivity factors

Upward Factors:

* Sustained growth in revenue along with sustenance of operating
margins leading to high net cash accruals.
* Improvement in financial risk profile leading to an improvement
in liquidity position with NCA/RO remaining over 1.2 times on a
sustained basis.

Downward Factors

* Decline in revenue or operating margins leading to net cash
accruals below 5.9 Cr.
* Further deterioration in the financial risk profile driven by
working capital intensive nature of operations

Lotus, is a Mumbai based company, is involved in manufacture of
diamond studded gold jewellery. The company has manufacturing
facility based in Mumbai.


M. C. ROLLER: CARE Lowers Rating on INR18cr LT Loan to B-
---------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
M. C. Roller Flour Mills Private Limited (MCR), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      18.00       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 July 4, 2023,
placed the rating(s) of MCR under the 'issuer non-cooperating'
category as MCR had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. MCR continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 19, 2024, May 29, 2024 and June 8, 2024.

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 for MCR have been revised on account of
non-availability of requisite information. The rating revision also
considers the weak debt coverage indicators owing to an increase in
interest costs in FY23 compared FY22.

Uttar Pradesh based M. C. Roller Flour Mill Pvt Ltd (MCR) was
incorporated in 1987. The company is currently being managed by Mr
Suresh Chand Singhal, Ms. Pushpa Singhal, Mr Amit Kumar Singhal and
Mr. Rohit Kumar Singhal. The company is engaged in processing
(milling) of wheat grains into flour, maida, semolina and choker.
The manufacturing unit is located in Shahjahanpur, Uttar Pradesh.
Furthermore, MCR is also engaged in trading of wheat grain, white
flour and semolina.


MANUGRAPH INDIA: CRISIL Lowers Rating on INR10cr Cash Loan to D
---------------------------------------------------------------
CRISIL Ratings has downgraded its rating on the long-term bank
facilities of Manugraph India Limited (Manugraph) to 'CRISIL D
Issuer Not Cooperating' from 'CRISIL B-/Stable Issuer Not
Cooperating'. The rating action is based on delay in servicing debt
obligations by Manugraph India Limited which came to CRISIL
ratings' notice as per information in public domain.             

                       Amount
   Facilities       (INR Crore)      Ratings
   ----------       -----------      -------
   Cash Credit           10          CRISIL D (ISSUER NOT
                                     COOPERATING; Downgraded from
                                     'CRISIL B-/Stable ISSUER NOT
                                     COOPERATING')

   Cash Credit           10          CRISIL D (ISSUER NOT
                                     COOPERATING; Downgraded from
                                     'CRISIL B-/Stable ISSUER NOT
                                     COOPERATING')

   Proposed Long Term    98          CRISIL D (ISSUER NOT
   Bank Loan Facility                COOPERATING; Downgraded from
                                     'CRISIL B-/Stable ISSUER NOT
                                     COOPERATING')

CRISIL Ratings has been consistently following up with Manugraph
for obtaining information through letter and email dated May 28,
2024, July 23, 2024; July 29, 2024 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 Manugraph, which restricts
CRISIL Ratings' ability to take a forward looking view on the
entity's credit quality. CRISIL Ratings believes that rating action
on Manugraph is consistent with 'Assessing Information Adequacy
Risk'.

Analytical Approach

For arriving at its ratings, CRISIL Ratings has taken a
consolidated view of Manugraph and its wholly-owned subsidiary,
i.e., Manugraph Americas Inc.  

Incorporated in 1971 and promoted by Mr Sanat Shah, Manugraph
manufactures single- and double-width web offset printing machines.
The manufacturing facility is in Kolhapur, Maharashtra. The company
has been recognized as an R&D house by the Department of Scientific
and Industrial Research. Its strong R&D capability has facilitated
the development of products such as the Smartline 4X1 machine
(double-width) with a speed of 70,000 copies per hour (cph),
Dreamline 4X1 machine (double-width) with a speed of 50,000 cph,
and Ecoline 2X1 machine (single width) with a speed of 25,000 cph.

In fiscal 2018, the company entered the plastic packing industry by
manufacturing flexo-machines, used for printing food packaging. It
has partnered with Carraro Srl, Italy, and delivered its first
order in March 2018.

Revenue and net loss were INR45 crore and INR9 crore, respectively,
in the first nine months of fiscal 2023, as against INR34 crore and
INR12 crore, respectively, in the corresponding period of the
previous fiscal.


MIND ENGINEERING: Voluntary Liquidation Process Case Summary
------------------------------------------------------------
Debtor: Mind Engineering Design (India) Private Limited
Office 138, Regus Prince Infocity II, Unit I,
        1st Floor, 283/3&283/4, OMR,
        Kandanchavady Perungudi,
        Chennai 600096

Insolvency Commencement Date: July 8, 2024

Court: National Company Law Tribunal Chennai Bench

Liquidator: Shanmugakani Saraskumar
     132A, NTR Street, Rangarajanpuram Main Road,
            Kodambakkam, Chennai-600024
            Mobile No: 9444011294
            Email: saraskcsca@gmail.com

Last date for
submission of claims: August 8, 2024


MUELLER PROST: Voluntary Liquidation Process Case Summary
---------------------------------------------------------
Debtor: Mueller Prost Shared Services Private Limited
4/B, G.Mayfair 26, S.V.Road, Bandra,
        Mumbai, Maharashtra 400 050

Insolvency Commencement Date: July 24, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: Dhanshyam Patel
     322, Zest Business Spaces
            MG Road, Ghatkopar East,
            Mumbai 400 077
            Email: vliq.mp@gmail.com
            Email: dpatel@ckpatel.com
            Phone: +91-9137442977

Last date for
submission of claims: August 23, 2024


PAMPA AGRO: CRISIL Reaffirms B Rating on INR3.14cr Term Loan
------------------------------------------------------------
CRISIL Ratings has reaffirmed its 'CRISIL B/Stable/CRISIL A4'
ratings on the bank facilities of Pampa Agro Products Pvt Ltd
(PAPPL).

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit           0.85        CRISIL B/Stable (Reaffirmed)

   Proposed Long Term
   Bank Loan Facility    0.13        CRISIL B/Stable (Reaffirmed)

   Term Loan             0.59        CRISIL B/Stable (Reaffirmed)

   Term Loan             3.14        CRISIL B/Stable (Reaffirmed)

   Working Capital
   Demand Loan           5.00        CRISIL A4 (Reaffirmed)

The ratings reflect the modest scale of operations of the company,
susceptibility to seasonality and regulatory changes in the cold
storage industry, and weak financial risk profile. These weaknesses
are partially offset by the extensive experience of the promoters
and favorable location of the cold storage facility in West
Bengal.

Key Rating Drivers & Detailed Description

Weaknesses:

* Susceptibility to seasonality and regulatory changes in the cold
storage industry: The potato cold storage industry in West Bengal
is regulated by the state government, with rental rates fixed by
the Department of Agricultural Marketing. Fixed rentals will
continue to limit the ability of players to earn profit, based on
their respective strengths and geographical advantages. Capacity
utilisation of the cold storage unit also depends on cultivation
and timely harvesting of potatoes, making it a highly seasonal
business.

* Modest scale of operations: Limited capacity of 1.1 lakh quintal
has led to modest revenue of around INR1.85 crore in fiscal 2024
(Rs 3.03 crore in fiscal 2023). The company did not trade in
potatoes in fiscal 2024, due to which it could not sustain revenue
at similar levels.

* Weak financial risk profile: Financial risk profile is marked by
high total outside liabilities to tangible networth (TOL/TNW) and
gearing ratios of 7.01 times and 6.65 times, respectively, as on
March 31, 2024. Debt protection metrics were marked by net cash
accrual to adjusted debt ratio of 0.03 time and interest coverage
of 1.64 times for fiscal 2024. With healthy accretion to reserves
leading to improvement in networth, TOL/TNW and gearing ratios are
expected to improve going forward.

Strengths:

* Extensive experience of the promoters: The four-decade-long
experience of the promoters in multiple segments, including real
estate, education and agriculture, their strong understanding of
market dynamics and established relationships with suppliers and
customers, will continue to support the business risk profile.

* Favourable location of the cold storage unit: The storage
facility of PAPPL is located around Hooghly, West Bengal. Proximity
to the potato producing belt will help the company reach optimum
capacity utilization.

Liquidity: Stretched

Bank limit utilisation was high averaging around 94.8% for the 12
months ended April 30, 2024. Expected cash accrual of INR40-70
crore may not suffice to cover the term debt obligation of INR70-78
crore over the medium term. Current ratio was moderate at 0.87 time
as on March 31, 2024. The promoters are likely to extend support
via equity and unsecured loans to cover the working capital
requirement and debt obligation.

Outlook: Stable

CRISIL Ratings believes PAPPL will continue to benefit from the
extensive experience of its promoters in the cold storage
business.

Rating Sensitivity factors

Upward factors

* Sustained revenue growth and stable operating margin, leading to
cash accrual of over INR1 crore
* Improvement in the financial risk profile

Downward factors

* Decline in revenue or operating margin, leading to net cash
accrual below INR0.3 crore
* Any large, debt-funded capital expenditure weakening the capital
structure
* Steep increase in working capital requirement weakening the
financial risk profile and liquidity

PAPPL was incorporated in 2012 at Hooghly (West Bengal). The
company provides cold storage facilities to local farmers for
potatoes, groundnut and allied products, and also trades in
potatoes. It has total cold storage capacity of 1.1 lakh quintal.
Mr Samarjit Mondal and Mr Swapan Kumaar Mondal, the promoters, have
40-45 years of experience in diverse fields such as education and
real estate.


PRADHVI MULTITRADE: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: M/S Pradhvi Multitrade Pvt. Ltd
Room No. 12, Mata Ramdevi Niwas,
        N.S. Road, Mulund (W),
        Mumbai Maharashtra 400080

Insolvency Commencement Date: July 2, 2024

Estimated date of closure of
insolvency resolution process: December 29, 2024

Court: National Company Law Tribunal, Mumbai Bench

Insolvency
Professional: Ms. Pooja Damir Miglani
       83, New Sant Fateh Singh Nagar, Dugri Road,
              Opp King Spade Resort
              Ludhiana, Punjab, 141013
              Email: ipcspdm@gmail.com

              203, The Ghatkopar Nilkanth CHS,
              Jethabai Lane,
              Ghatkopar (East) Mumbai - 400 077
              Email: pmpl.cirp@gamil.com

Last date for
submission of claims: July 16, 2024


PRAMATI SOFTWARE: Voluntary Liquidation Process Case Summary
------------------------------------------------------------
Debtor: Pramati Software Private Limited
Ground Floor, N Heights,
        Plot No. 12, Software Units Layout,
        Madhapur, Hyderabad,
        Shaikpet Telangana-500081

Insolvency Commencement Date: July 3, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: Mr. Vivek Gupta
     Tower 7, Flat 1805, Urbana,
            783 Anandkupar
            Main Road Near Ruby Hospital,
            Kolkata-700107, West Bengal
            Email: liquidatorpspl@gmail.com
            Email: gupta.vivekaca@gmail.com
            Tel No: +919831808041
  
Last date for
submission of claims: August 2, 2024


R. K. FROZEN: CARE Keeps B- Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of R. K.
Frozen Foods (RKFF) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      13.95       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 July 12, 2023,
placed the rating(s) of RKFF under the 'issuer non-cooperating'
category as RKFF had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. RKFF continues
to be non-cooperative despite repeated requests for submission of
information through emails, phone calls and a letter/email dated
May 27, 2024, June 6, 2024 and June 16, 2024.

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).

Kashipur based, R.K. Frozen Foods (RKFF) is a partnership concern
established in April 2009 by Mr. Ajay Kumar Agarwal and Ms. Priti
Agarwal. RKFF is engaged in processing fresh fruits & vegetables
into frozen form through individual quick freezing (IQF) technique.
RKFF has set up its manufacturing facility at Udham Singh Nagar,
Uttarakhand.

RAM FIBRES: CRISIL Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Sri Ram
Fibres (SF) continue to be 'CRISIL B/Stable/CRISIL A4 Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Bill Discounting       2.4        CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Packing Credit         9          CRISIL A4 (Issuer Not
                                     Cooperating)

   Rupee Term Loan        1.1        CRISIL B/Stable (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with SF for
obtaining information through letter and email dated June 11, 2024
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 SF, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on SF is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of SF
continues to be 'CRISIL B/Stable/CRISIL A4 Issuer Not
Cooperating'.

SF, set up in 1992, manufactures and exports coconut coir. Its
day-to-day operations are managed by managing partner Mr. Leela
Krishnan.


RASHMI METRO: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: Rashmi Metro Homes LLP
601, Classic Pentagon,
        Western Express Highway,
        Chikuwadi, Andheri (East),
        Mumbai - 400099, Maharashtra

Insolvency Commencement Date: July 12, 2024

Estimated date of closure of
insolvency resolution process: January 8, 2025

Court: National Company Law Tribunal, Mumbai Bench-IV

Insolvency
Professional: Purusottam Behera
       708, Raheja Centre,
              Nariman Point,
              Mumbai-400021, Maharashtra
              Email: purusosbbj@yahoo.com
              Email: cirprmhl@yahoo.com

Last date for
submission of claims: July 26, 2024


S V DISTRIBUTORS: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: S V Distributors Private Limited
        Registered Address:
        228, Keytuo Industrial Estate,
        Kondivita Road J B Nagar,
        Andheri (East) Mumbai,
        Maharashtra, 400059 India

Insolvency Commencement Date: July 19, 2024

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: January 15, 2025

Insolvency professional: Manoj Kumar Agarwal

Interim Resolution
Professional: Manoj Kumar Agarwal
              B-83, Andheri Green Field Tower
              C H S Limited, Jogeshwari Vikhroli Link Road,
              Near Poonam Nagar,
              Andheri East, Mumbai City,
              Maharashtra 400093
              Email: ip_manojargawal@gmail.com

              -- and --

              Finvin Turnaround and Restructuring Private Limited
              Sunteck Crest, 605, 6th Floor, Plot No. 3,
              Mukund Nagar Road, Andheri Kurla Road
              Andheri (E), Mumbai, Maharashtra 400059
              Email: ip_svdpl@gmail.com

Last date for
submission of claims: August 8, 2024


SEVENN PROTECTIVE: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Sevenn Protective Fabrics PrivateLimited
20B, Tin Murti Bunglows
        Near Devansh Bunglow,
        Surdhara Circle, Thaltej,
        Ahmedabad, Gujarat, India, 380054

Insolvency Commencement Date: July 11, 2024

Estimated date of closure of
insolvency resolution process: January 7, 2025

Court: National Company Law Tribunal, Ahmedabad Bench

Insolvency
Professional: Rajendra Sanghi
       B/2D Siddh Chhakra Apartment
              Near Sargam Shopping Center
              Parle Point, Surat, Gujarat, 395007
              Email: Rajendra.sanghi@yahoo.co.in
              Email: sevennprotective.ibc@gmail.com

Last date for
submission of claims: August 1, 2024


SHAKTI LIFESCIENCE: CRISIL Hikes Rating on INR6cr Loan to B+
------------------------------------------------------------
CRISIL Ratings has upgraded its rating on the long term bank
facilities of Shakti Lifescience Pvt Ltd (SLPL) to 'CRISIL
B+/Stable' from 'CRISIL B/Stable'.

                        Amount
   Facilities        (INR Crore)      Ratings
   ----------        -----------      -------
   Cash Credit            6           CRISIL B+/Stable (Upgraded
                                      from 'CRISIL B/Stable')

   Rupee Term Loan        1.49        CRISIL B+/Stable (Upgraded
                                      from 'CRISIL B/Stable')

   Rupee Term Loan        0.71        CRISIL B+/Stable (Upgraded
                                      from 'CRISIL B/Stable')

   Term Loan              3.02        CRISIL B+/Stable (Upgraded
                                      from 'CRISIL B/Stable')

   Term Loan              0.45        CRISIL B+/Stable (Upgraded
                                      from 'CRISIL B/Stable')

The upgrade reflects the improvement in operating margin from 7% to
14% in fiscal 2024, as the company received the stability
certificate for seven products. This will increase its bargaining
power with suppliers and enhance its overall performance in terms
of cash ccrual and profitability. With the operationalisation of
capital expenditure (capex) and new machinery, SLPL should see
scale, efficiency and cost absorption improve going forward.

The rating continues to reflect the modest scale of operations and
below-average financial risk profile of SLPL. These weaknesses are
partially offset by the extensive experience of the promoters in
the bulk drugs industry.

Analytical approach

Unsecured loans (INR19.68 crore as on March 31, 2024) extended by
the promoters have been treated as neither debt nor equity as the
funds are likely to remain in the business over the medium term.

Key rating drivers & detailed description

Weakness:

* Extensive experience of the promoters: The two-decade-long
experience of the promoters has enabled them to gain strong
understanding of market dynamics and maintain healthy relationships
with suppliers and customers in the bulk drugs industry. Need-based
funding support from the promoters is also likely to support the
business.

Strengths:

* Modest scale of operations: SLPL commenced commercial operations
in December 2018, but operations gathered pace only in fiscal 2022,
after the company received all mandatory approvals. Revenue was
stagnant in the previous fiscal, owing to the slow-down in industry
and delay in operationalisation of capex for six months. However,
it is likely to pick up over the medium term, aided by expansion of
facilities and completion of stability procedures for drugs.

* Below-average financial risk profile: Though weak, the financial
risk profile will be partially supported by need-based funds
extended by promoters. Networth and gearing were both negative at
INR-17.97 crore and -0.55 time as on March 31, 2024. Debt
protection metrics were subdued too, with interest coverage ratio
of 3.96 times and net cash accrual to total debt ratio of 0.28 time
in fiscal 2024.

Liquidity: Stretched

Bank limit utilisation was high averaging around 93.63% for the 12
months ended May 31, 2024. Expected cash accrual of INR2.5-3.5
crore should suffice to cover the term debt obligation of INR0.6-1
crore over the medium term.  Current ratio was healthy at 1.43
times as on March 31, 2024. The promoters are likely to extend
support via equity and unsecured loans to meet working capital
expenses and debt obligation. Low networth limits the financial
flexibility to withstand adverse conditions or downturn in the
business.

Outlook: Stable

SLPL will continue to benefit from the extensive experience of its
promoters in the bulk drugs industry.

Rating sensitivity factors

Upward factors

* Substantial growth in revenue (by more than 25%) and steady
operating margin of over 12%, leading to higher cash accrual
* Improvement in the financial risk profile

Downward factors

* Lower-than-expected margin, resulting in suppressed cash accrual
* Weakening of financial and liquidity risk profile; with interest
coverage ratio less than 2 time on a continued basis

SLPL was set up as a partnership between Mr Dahyabhai Patel, Mr
Babubhai Patel, Mr Milind Patel, Mr Jignesh Amin, and Mr Bhavin
Shah in 2015. The firm commenced commercial operations from
December 2018 and got reconstituted into a private limited company
in December 2021. SLPL manufactures active pharmaceutical
ingredients at its facility in Boisar, Maharashtra.


SHANDONG CHUNLONG: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Shandong Chunlong Group India Private Limited
        Registered Address:
        G-074, Site 5, Kasna Ind Area Greater Noida,
        Gautam Buddha Nagar,
        Uttar Pradesh, India 201308

Insolvency Commencement Date: July 24, 2024

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: January 20, 2025

Insolvency professional: Aakriti Sood

Interim Resolution
Professional: Aakriti Sood
              1A, Ground Floor,
              Sanskriti Engineer's Apartment
              GH-22 Sector - 56, Gurugram,
              Gurgaon Haryana 122011
              Email: contactaakritisood@gmail.com
              Email: cirp.shandong@gmail.com

Last date for
submission of claims: August 7, 2024


SHIVACHAYA SUGARCANE: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shivachaya
Sugarcane Bio Products Private Limited (SSBPPL) 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

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated June 26, 2023,
placed the rating(s) of SSBPPL under the 'issuer non-cooperating'
category as SSBPPL had failed to provide information for monitoring
as agreed to in its Rating Agreement. SSBPPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 11, 2024, May 21, 2024 and May 31, 2024.

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).

Established in December-2016, Shivachaya Sugarcane Bio-Product
Private Limited (SSBPPL) is a Bagalkot (Karnataka) based private
limited company registered under the Companies Act 2013 and
promoted by Mr. Anand Suryavanshi and Mrs. Swati Suryavanshi. SSPL
is setting up a jaggery manufacturing unit at Bagalkot, Karnataka.


SP AUTOMOBILES: CARE Keeps B- Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of SP
Automobiles (Partnership) (SA) continue to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

   Short Term Bank      1.00       CARE A4; 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 July 13, 2023,
placed the rating(s) of SA under the 'issuer non-cooperating'
category as SA had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. SA continues to be
non-cooperative despite repeated requests for submission of
information through emails, phone calls and a letter/email dated
May 28, 2024, June 7, 2024 and June 17, 2024.

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

S.P. Automobiles (SA) was established in 1992 as a partnership
concern and is currently being managed by Mr Rajesh Kumar Dubey and
Mr Akhilesh Kumar Dubey sharing profits and losses equally. SA is
an authorized dealer for Hero Motocorp Limited
(HML) and John Deere (JD) vehicles. The firm manages its operations
from two showrooms [3S (sale, service, spares) facility] located in
Uttar Pradesh.

SUPERLITE AAC: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Superlite
AAC Blocks Industry (SABI) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      26.31       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 May 26, 2023,
placed the rating(s) of SABI under the 'issuer non-cooperating'
category as SABI had failed to provide information for monitoring
of the rating. SABI continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated April 10, 2024, April 20,
2024, April 30, 2024.

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).

Superlite AAC Blocks Industry established in October 2013,
commenced operation from April 2016. The entity is engaged in
manufacturing of different types of AAC blocks which is required in
construction activities. The manufacturing unit of the entity is
located at Vill- Sarutari, Sonapur Byrnihat, Dist-Kamrup (Assam)
with an installed capacity of 1,18,098 metric tons per annum. The
entity procures its raw materials from domestic suppliers and
imports 7% of its raw material from Bhutan in FY18. The entity
sells its products through dealers and distributors which cover
several states like West Bengal, Assam, Meghalaya, Manipur,
Mizoram, Arunachal Pradesh etc. The entity has diversified
customers. The entity's major export destination is Bhutan with 10%
of its revenue of FY18 being exported. Mr. Surendra Kumar Mittal
(Partner) and Mr. Raj Kamal Sarawagi (Partner) has 16 years and 31
years of experience, respectively in similar line of business,
looks after the day to day operation of the entity. They are
further supported by a team of experienced professionals.


SURESH ANGADI: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Suresh
Angadi Education Foundation (SAEF) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      79.36       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

CARE Ratings Ltd. had, vide its press release dated May 15, 2023,
placed the rating(s) of SAEF under the 'issuer non-cooperating'
category as SAEF had failed to provide information for monitoring
of the rating. SAEF continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated March 30, 2024, April 9, 2024,
April 19, 2024.

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).

Suresh Angadi Education Foundation (SAEF) was established in the
year 2008 by Late Mr. Suresh Channabasappa Angadi, who was once an
MP from Belagavi, Karnataka till Sept'20. The trust was established
to set up educational institutions in Belagavi.


TAKSHASHILA PROJECTS: Insolvency Resolution Process Case Summary
----------------------------------------------------------------
Debtor: Takshashila Projects Private Limited
560, Silver ARC-B, Open Plot
        Near Ashimira House
        B/h Town Hall,
        Madalpur, Ellisbridge
        Ahmedabad, Gujarat - 380006

Insolvency Commencement Date: July 16, 2024

Estimated date of closure of
insolvency resolution process: January 11, 2025

Court: National Company Law Tribunal, Ahmedabad Bench

Insolvency
Professional: Janak Jagjivan Shah
       201, Kamdhenu Complex
              Near Toran Dining Hall
              Opp. Sales India, Income Tax,
              Ashram Road, Ahmedabad - 380009
              Email: iprvcajanakshah@gamil.com

Last date for
submission of claims: July 30, 2024


UJJAWAL SAWERA: CRISIL Keeps B+ Debt Rating in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Ujjawal Sawera
Samiti (USS) continues to be 'CRISIL B+/Stable Issuer Not
Cooperating'.

                          Amount
   Facilities          (INR Crore)   Ratings
   ----------          -----------   -------
   Proposed Long Term       1        CRISIL B+/Stable (Issuer
   Bank Loan Facility                Not Cooperating)

CRISIL Ratings has been consistently following up with USS for
obtaining information through letter and email dated June 11, 2024
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 USS, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on USS
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
USS continues to be 'CRISIL B+/Stable Issuer Not Cooperating'.

USS is a Meerut based organisation operating as a not-for-profit
society and is managed by the Chairman, Mr. Mahesh Kumar and
Secretary, Mr. Ravindra Pal. The society provides free meals under
the mid-day meal scheme and other government mandated schemes. The
society is having license from Food Safety Authority of India.


UNITED OILCHEM: CRISIL Assigns B Rating to INR61cr Term Loan
------------------------------------------------------------
CRISIL Ratings has assigned its 'CRISIL B/Stable/CRISIL A4' ratings
to the bank loan facilities of United Oilchem Pvt Ltd (UOPL).

                        Amount
   Facilities        (INR Crore)      Ratings
   ----------        -----------      -------
   Proposed Cash
   Credit Limit          15           CRISIL B/Stable (Assigned)


   Proposed Term Loan    61           CRISIL B/Stable (Assigned)

   Proposed Working
   Capital Facility       1           CRISIL A4 (Assigned)

The rating reflects exposure to risks related to the ongoing
project, expectation of a leveraged capital structure, and
susceptibility to volatility in raw material prices. These
weaknesses are partially offset by the extensive experience of the
promoters in the oleochemicals business and benefits from adoption
of the latest machinery in a steady industry.

Key Rating Drivers & Detailed Description

Weaknesses:

* Exposure to risks related to the ongoing project: UOPL is
scheduled to commence operations in October 2025. Dependence on few
key customers for a significant portion of sales could increase
vulnerability to changes in their purchasing behavior or financial
stability. Breakdown or malfunctioning of critical machinery and
equipment could disrupt production schedules, leading to delays and
increased maintenance cost. The company will be exposed to intense
competition from other players in the oleochemicals industry.
Timely completion and stabilisation of operations at the new unit
is a key rating sensitivity factor.

* Susceptibility to volatility in raw material (cotton) prices:
Oleochemicals, which are derived from vegetable oils and animal
fat, play a crucial role in various industries. Prices are
influenced by numerous factors, such as global demand-supply
dynamics, geopolitical influences, changes in weather and
government policies. Fluctuations in vegetable oil prices can have
a significant impact on the cost structure and profitability of
manufacturers. Moreover, the industry often faces competition from
the food and biofuel sectors for the same raw material. Overall,
the oleochemicals industry operates in a complex landscape, wherein
availability, pricing and sustainability of raw material play a
critical role. Balancing these factors is essential to ensure
growth, profitability, and alignment with environmental and social
goals.

Strengths:

* Extensive experience of the promoters: The two-decade-long
experience of the promoters in the edible oil and oleochemical
industry, their strong understanding of market dynamics and
established relationships with suppliers and customers, will
continue to support the business risk profile.

* Adoption of latest machinery in steady industry: UOPL is setting
up a new unit, which will have the latest equipment and
technology.

Liquidity: Stretched

Cash accruals are expected to be over INR10 crores which are
sufficient against term debt obligation of INR5 to 6 crores over
the medium term.  Current ratio is estimated to be moderate as on
March 31, 2026.

Outlook: Stable

CRISIL Ratings believes UOPL will benefit from the extensive
experience of its promoters in the oleochemicals business.

Rating Sensitivity factors

Upward factors:

* Timely stabilization of operations at the proposed plant, leading
to significant growth in revenue and profitability
* Revenue of more than INR200 crores reported within the first year
of operations.

Downward factors:

* Considerable delay in commencement of operations at the new unit
* Significantly low cash accrual below Rs. 12 crores in the initial
phase of operations
* Substantial increase in working capital requirement weakening the
financial risk profile and liquidity.

UOPL was incorporated on June 7, 2024, in Gondal, Rajkot (Gujarat).
The company is dedicated to leveraging natural oils and fats as
sustainable resources to produce high-quality oleochemicals. These
chemicals serve as eco-friendly alternatives to petroleum-based
feedstocks, aligning with global efforts towards environmental
sustainability. Mr. Prakash Manshukh Kukadiya, Mr. Darvin Maradiya,
Mr. Parthkumar Himmatlal Gol and Dr Mahesh Bavanji Bokarwadia are
the promoters and directors of the company.


URANUS STONE: CRISIL Keeps B- Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Uranus Stone
Products and Co. (USPC) continue to be 'CRISIL B-/Stable Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Cash Credit            2         CRISIL B-/Stable (Issuer Not
                                    Cooperating)

   Term Loan              5         CRISIL B-/Stable (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with USPC for
obtaining information through letter and email dated June 11, 2024
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 USPC, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on USPC
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
USPC continues to be 'CRISIL B-/Stable Issuer Not Cooperating'.

Operations beginning in March, 2017, USPC is engaged in stone
crushing activity in Meghalaya. Mr Ankit Mittal, Mr. Rohit Mittal
and Mr. Comforme Mukhim are the partners of the firm. USPC's stone
crushing unit with a capacity of 300 tonnes per hour is situated
near Killing, Meghalaya.


VEGA JEWELDIAM: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Vega
Jeweldiam Private Limited (VJPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      27.00       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 27, 2023,
placed the rating(s) of VJPL under the 'issuer non-cooperating'
category as VJPL had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. VJPL continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 12, 2024, May 22, 2024 and June 1, 2024.

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).

Incorporated in 2008, Vega Jeweldiam Private Limited (VJPL,
erstwhile Amy Diam Creation Pvt. Ltd. (ACPL) which was the holding
company of Amy Diam Vega Jewellery Pvt. Ltd. (AVPL) was merged with
ACPL in Feb 2013) is engaged in business of
exporting cut and polished diamonds (up to 5 carats in size).


VICEROY BANGALORE: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Viceroy
Bangalore Hotels Private Limited (VBHPL) continue to be 'CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)      Ratings
   ----------        -----------      -------
   Term Loan              75          CRISIL D (Issuer Not
                                      Cooperating)

   Term Loan              31          CRISIL D (Issuer Not
                                      Cooperating)

   Term Loan              50          CRISIL D (Issuer Not
                                      Cooperating)

   Term Loan              50          CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with VBHPL for
obtaining information through letter and email dated June 11, 2024
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 VBHPL, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on VBHPL
is consistent with 'Assessing Information Adequacy Risk'. Based on
the last available information, the ratings on bank facilities of
VBHPL continues to be 'CRISIL D Issuer Not Cooperating'.

VBHPL, incorporated in 2010, is setting up a five-star hotel in
Bengaluru (Karnataka). The company has a tie-up with Marriott
International for managing operations of the hotel, which will
operate under the Renaissance brand and is expected to commence
operations by September 2015. Viceroy Hotels Ltd holds 40 per cent
stake in VBHPL, and JP Morgan Mauritius India Pvt Ltd holds the
balance 60 per cent.

VPHRASE ANALYTICS: Voluntary Liquidation Process Case Summary
-------------------------------------------------------------
Debtor: Vphrase Analytics Solutions Private Limited
        301, Floor No 3, T SQUARE, Block Sector,
        Chandivali Saki Vihar Road,
        Opp Chandivali Petrol Pump,
        Tungaona, Mumbai
        Maharashtra, India, 400072

Liquidation Commencement Date: July 8, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Pranav J. Damania
            407, Sanjar Enclave,
            Opposite Milap Cinema, S.V Road,
            Kandivali West, Mumbai - 400067
            Email Id : pranav@winadvisors.co.in
            Contact No : +91 98204 69825

Last date for
submission of claims: August 7, 2024


YASH JEWELLERY: Liquidation Process Case Summary
------------------------------------------------
Debtor: Yash Jewellery Private Limited
606/604 Block No.1, SEEPZ, SEZ, MIDC,
        Andheri East, Mumbai 400096 Maharashtra

Insolvency Commencement Date: June 28, 2024

Court: National Company Law Tribunal Principal Bench

Liquidator: Ms. Ritu Rastogi
     D-1B ,9A, Janakpuri,
            New Delhi - 110058
            Email: ritu_rastogi1@yahoo.co.in
     Email: office@rpsoffice.in

Last date for
submission of claims: July 28, 2024




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

A1 REPAIRS: Court to Hear Wind-Up Petition on Aug. 20
-----------------------------------------------------
A petition to wind up the operations of A1 Repairs Limited will be
heard before the High Court at Wellington on Aug. 20, 2024, at
10:00 a.m.

Platform Homes Limited filed the petition against the company on
June 24, 2024.

The Petitioner's solicitor is:

          Jonathan Forsey
          Duncan Cotterill
          Level 2, Duncan Cotterill Plaza
          148 Victoria Street
          Christchurch 8013


BREWERS COOP: Creditors' Proofs of Debt Due on Aug. 22
------------------------------------------------------
Creditors of Brewers Coop 2016 Limited are required to file their
proofs of debt by Aug. 22, 2024, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on July 22, 2024.

The company's liquidator is:

          Mohammed Tazleen Nasib Jan
          Liquidation Management Limited
          PO Box 50683
          Porirua 5240


HUMMING TECHNOLOGY: Creditors' Proofs of Debt Due on Sept. 13
-------------------------------------------------------------
Creditors of Humming Technology Limited and Canine Bathhaus Limited
are required to file their proofs of debt by Sept. 13, 2024, to be
included in the company's dividend distribution.

Humming Technology Limited commenced wind-up proceedings on July
25, 2024.
Canine Bathhaus Limited commenced wind-up proceedings on July 29,
2024.

The company's liquidator is:

          Derek Ah Sam
          Rodgers Reidy (NZ) Limited
          PO Box 45220
          Te Atatu
          Auckland 0651


LALL & SONS: Court to Hear Wind-Up Petition on Aug. 9
-----------------------------------------------------
A petition to wind up the operations of Lall & Sons Holdings
Limited will be heard before the High Court at Auckland on Aug. 9,
2024, at 10:00 a.m.

The Commissioner of Inland Revenue filed the petition against the
company on June 14, 2024.

The Petitioner's solicitor is:

          Cloete Van Der Merwe
          Inland Revenue, Legal Services
          5 Osterley Way
          Manukau City
          Auckland 2104


NIWOTTINI LIMITED: Creditors' Proofs of Debt Due on Aug. 27
-----------------------------------------------------------
Creditors of Niwottini Limited are required to file their proofs of
debt by Aug. 27, 2024, to be included in the company's dividend
distribution.

The High Court at Wellington appointed Steven Khov and Kieran Jones
of Khov Jones Limited as liquidators on July 30, 2024.




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

AETNA GLOBAL: Creditors' Proofs of Debt Due on Sept. 6
------------------------------------------------------
Creditors of Aetna Global Benefits (Singapore) Pte Limited are
required to file their proofs of debt by Sept. 6, 2024, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on Aug. 1, 2024.

The company's liquidator is:

          Sam Kok Weng
          c/o 7 Straits View
          Marina One East Tower, Level 12
          Singapore 018936


EDUTECH LAB AP: Creditors' Proofs of Debt Due on Sept. 6
--------------------------------------------------------
Creditors of Edutech Lab AP Pte. Ltd. are required to file their
proofs of debt by Sept. 6, 2024, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on July 31, 2024.

The company's liquidator is:

          Mitani Masatoshi
          c/o 10 Anson Road
          #14-06 International Plaza
          Singapore 079903


GAZELLE VENTURES: Faces Winding-Up Proceeding by Creditor
---------------------------------------------------------
Bromat Holdings said on Aug. 2 that a creditor of its controlling
shareholder, Gazelle Ventures, has commenced a winding-up
proceeding against the shareholder amid a legal dispute.

According to BT, the food and beverage (F&B) player, formerly
called No Signboard, issued SGD4.5 million worth of convertible
redeemable preference shares to Gazelle on March 28. The instrument
is convertible into 145 million shares in Bromat.

There are no provisions for the early repayment or termination of
the convertible redeemable preference shares by either party, and
the repayment can be made through the conversion at Bromat's
option, BT says.

In a regulatory filing, Bromat's board said that, barring
unforeseeable circumstances, the proceeding against Gazelle will
not have any material impact on the group and its business, and
that it can continue operating as normal, BT relates.

BT notes that the company had been embroiled in legal proceedings
before the former controlling shareholder called it quits and the
"No Signboard" trademarks were sold under a settlement agreement.

Bromat last traded flat at SGD0.12 on July 24, BT discloses.
Trading of its shares was halted on July 31, but a request has
since been made on Aug. 2 for the halt to be lifted.

Gazelle Ventures is a venture capital firm based in Singapore.


HARISH LOGISTICS: Court to Hear Wind-Up Petition on Aug. 23
-----------------------------------------------------------
A petition to wind up the operations of Harish Logistics Pte Ltd
will be heard before the High Court of Singapore on Aug. 23, 2024,
at 10:00 a.m.

Maybank Singapore Limited filed the petition against the company on
July 31, 2024.

The Petitioner's solicitors are:

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


MCX SINGAPORE: Commences Wind-Up Proceedings
--------------------------------------------
Members of MCX Singapore Pte Ltd on July 31, 2024, passed a
resolution to voluntarily wind up the company's operations.

The company's liquidators are:

          Cosimo Borrelli
          Jason Aleksander Kardachi
          Kroll Pte. Limited
          10 Collyer Quay
          #05-04/05 Ocean Financial Centre
          Singapore 049315


YEN DESIGN: Court to Hear Wind-Up Petition on Aug. 23
-----------------------------------------------------
A petition to wind up the operations of Yen Design & Contract Pte
Ltd will be heard before the High Court of Singapore on Aug. 23,
2024, at 10:00 a.m.

Maybank Singapore Limited filed the petition against the company on
Aug. 1, 2024.

The Petitioner's solicitors are:

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



                           *********


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 2024.  All rights reserved.  ISSN: 1520-9482.

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