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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 14, 2024, Vol. 27, No. 163

                           Headlines



A U S T R A L I A

BUSTECH (SA): First Creditors' Meeting Set for Aug. 22
GOLD SPRING: First Creditors' Meeting Set for Aug. 19
LA TROBE 2024-3: S&P Assigns Prelim. B(sf) Rating on Class F Notes
LOTUS BEER: Second Creditors' Meeting Set for Aug. 19
LUCKYS SERVICES: Second Creditors' Meeting Set for Aug. 20

QARTABA HOMES: McGrathNicol Appointed as Receivers
REX AIRLINES: Receivers Seek Help From Travellers
S&W SEED: Australian Unit Placed Under Administration
WATTLE GROVE: Second Creditors' Meeting Set for Aug. 19


C H I N A

DALIAN WANDA: More Asset Sale Sparks Concerns Among Investors
HUMAN HORIZONS: Seeks CNY300M in Financing to Revive EV Production


I N D I A

A V ANJANEYA: CRISIL Keeps B+ Debt Rating in Not Cooperating
ADISID ASSOCIATES: Voluntary Liquidation Process Case Summary
ADORA PRODUCTS: CRISIL Keeps B Debt Ratings in Not Cooperating
AISHWARYA AND CO: Voluntary Liquidation Process Case Summary
AMBIKA IMPLEX: Insolvency Resolution Process Case Summary

ANANT AGRO: CRISIL Keeps B+ Debt Ratings in Not Cooperating
ANNAPOORNA ENTERPRISES: CARE Keeps D Rating in Not Cooperating
ANNAPURNA INDUSTRIES: CRISIL Keeps B Ratings in Not Cooperating
ASTER INDUSTRIES: CRISIL Keeps B Debt Ratings in Not Cooperating
BAJPAI REFRIGERATION: CRISIL Keeps B+ Ratings in Not Cooperating

BASAVA TEXTILES: CARE Keeps B- Debt Rating in Not Cooperating
BHAVESHWAR FINVEST: Voluntary Liquidation Process Case Summary
D. S. CONTRACTORS: CARE Keeps D Debt Ratings in Not Cooperating
DIVYASHAKTI FOODS: CARE Keeps B Debt Rating in Not Cooperating
ESCAPOLOGY ENTERTAINMENT: Insolvency Resolution Case Summary

FUTURE RETAIL: Liquidation Process Case Summary
GAGAN MEDIA: CARE Lowers Rating on INR6.16cr LT Loan to B-
GREATER KAILASH HOSPITALS: Insolvency Resolution Case Summary
GWALIOR DISTILLERIES: CARE Keeps D Debt Rating in Not Cooperating
HARI AADITHYA: Voluntary Liquidation Process Case Summary

HOTEL RAJMAHAL: CARE Keeps B- Debt Rating in Not Cooperating
JAYPEE CEMENT: Insolvency Resolution Process Case Summary
LAKSHMI TOBACCOS: CARE Keeps D Debt Rating in Not Cooperating
MAHILA UDYOG: Insolvency Resolution Process Case Summary
MNK EDUCATIONAL: CARE Keeps B- Debt Rating in Not Cooperating

MOLINA CHEMICALS: Insolvency Resolution Process Case Summary
NCML DEORIA: Voluntary Liquidation Process Case Summary
NCML FAIZABAD: Voluntary Liquidation Process Case Summary
NCML JALALABAD: Voluntary Liquidation Process Case Summary
NILKANTH ORGANICS: Insolvency Resolution Process Case Summary

OROCORP TECHNOLOGIES: CARE Downgrades Issuer Rating to C
OZONE CHIP: CARE Reaffirms B+ Rating on INR35cr LT Loan
P.K. METAL: CARE Keeps D Rating in Not Cooperating Category
POINT DEVELOPERS: Insolvency Resolution Process Case Summary
PROGRESSIVE METERS: Liquidation Process Case Summary

RADIO ROCKET: Voluntary Liquidation Process Case Summary
RAM INDUSTRIES: CARE Keeps B- Debt Rating in Not Cooperating
RANA OIL: CARE Keeps B- Debt Rating in Not Cooperating Category
RELIANCE CAPITAL: Hindujas Deposit INR2,700 Crore in Escrow
RISHI RAJ: CARE Keeps D Debt Ratings in Not Cooperating Category

S. K. FOODS: CARE Keeps D Debt Rating in Not Cooperating Category
SAMARTTHA TRIMURTI: CARE Keeps B- Debt Rating in Not Cooperating
SAPPHIRE CLOTHING: Liquidation Process Case Summary
SARGAM INDIA: Liquidation Process Case Summary
SCG EXPORTS: Insolvency Resolution Process Case Summary

SIGNATURE AUTOMOBILES: CARE Keeps B- Rating in Not Cooperating
SKYLINE ASSOCIATES: Voluntary Liquidation Process Case Summary
SPACEAGE STORAGE: CARE Keeps B- Debt Rating in Not Cooperating
SPENTA SUN: Insolvency Resolution Process Case Summary
SUB-K IMPACT: Voluntary Liquidation Process Case Summary

SUUMAYA INDUSTRIES: Insolvency Resolution Process Case Summary
T & V FINANCIAL: Voluntary Liquidation Process Case Summary
W HEALTH: Voluntary Liquidation Process Case Summary


I N D O N E S I A

ALAM SUTERA: Moody's Raises CFR to B3 & Alters Outlook to Stable


J A P A N

ARCH FINANCE 2007-1: Moody's Hikes Rating on JPY12BB Debt From Ba1


N E W   Z E A L A N D

ALI HOMES: Creditors' Proofs of Debt Due on Sept. 12
CAREJOBZ LIMITED: Creditors' Proofs of Debt Due on Sept. 3
GLASSFORCE (2006): Creditors' Proofs of Debt Due on Sept. 20
HEADFORD PROPAGATORS: Placed Into Liquidation
HOWICK CONSTRUCTORS: Court to Hear Wind-Up Petition on Sept. 10

M.R. ANDREWS: Court to Hear Wind-Up Petition on Aug. 23


S I N G A P O R E

ACE AUTOLUTION: Court Enters Wind-Up Order
COSMOS GROUP: Halts Authorized Capital Increase, Withdraws DEF 14C
LAM CHEE: Creditors' Meetings Set for Aug. 26
LHC COATINGS: Court Enters Wind-Up Order
M2 COMMERCIAL: Court Enters Wind-Up Order

MEGAHOUSE PTE: Court Enters Wind-Up Order
NTEGRATOR HOLDINGS: Faces Potential Insolvency Proceedings
THREE ARROWS: Liquidators Seek US$1.3 Billion Over 2022 Luna Crash

                           - - - - -


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

BUSTECH (SA): First Creditors' Meeting Set for Aug. 22
------------------------------------------------------
A first meeting of the creditors in the proceedings of BusTech (SA)
Pty Ltd and BusTech (QLD) Pty Ltd will be held on Aug. 22, 2024 at
10:30 a.m. at the offices of Chartered Accountants Australia and
New Zealand at Level 18, 600 Bourke Street in Melbourne.

Ben Verney of Grey House Partners was appointed as administrator of
the company on Aug. 12, 2024.


GOLD SPRING: First Creditors' Meeting Set for Aug. 19
-----------------------------------------------------
A first meeting of the creditors in the proceedings of Gold Spring
Assets Pty Ltd will be held on Aug. 19, 2024 at 10:00 a.m. at the
offices of WA Insolvency Solutions, a division of Jirsch Sutherland
at Level 6, 109 St Georges Terrace in Perth.

Greg Prout and Jimmy Trpcevski of WA Insolvency Solutions were
appointed as administrators of the company on Aug. 7, 2024.


LA TROBE 2024-3: S&P Assigns Prelim. B(sf) Rating on Class F Notes
------------------------------------------------------------------
S&P Global Ratings assigned its preliminary ratings to eight of the
10 classes of residential mortgage-backed securities (RMBS) to be
issued by Perpetual Corporate Trust Ltd. as trustee for La Trobe
Financial Capital Markets Trust 2024-3. La Trobe Financial Capital
Markets Trust 2024-3 is a securitization of nonconforming and prime
residential mortgages originated by La Trobe Financial Services Pty
Ltd. (La Trobe Financial).

The preliminary ratings reflect the following factors.

The credit risk of the underlying collateral portfolio and the
credit support provided to each class of notes are commensurate
with the ratings assigned. Credit support is provided by
subordination and excess spread. The assessment of credit risk
takes into account La Trobe Financial's underwriting standards and
approval process, and La Trobe Financial's servicing quality.

The transaction's cash flows can meet timely payment of interest
and ultimate payment of principal to the noteholders under the
rating stresses. Key factors are the level of subordination
provided, an amortizing liquidity facility sized at 1.5% of the
note balance, the principal draw function, the yield reserve, the
retention amount built from excess spread before the call date, the
amortization amount built from excess spread after the call date or
upon a servicer default, and the provision of an extraordinary
expense reserve. All rating stresses are made on the basis that the
trust does not call the notes at or beyond the call date, and that
all rated notes must be fully redeemed via the principal waterfall
mechanism under the transaction documents.

S&P also has factored into its ratings the legal structure of the
trust, which has been established as a special-purpose entity and
meets our criteria for insolvency remoteness.

S&P said, "Our ratings also reflect the counterparty support
provided by Commonwealth Bank of Australia as liquidity facility
provider and bank account provider. The transaction documents for
the liquidity facility and bank accounts include downgrade language
consistent with our "Counterparty Risk Framework: Methodology And
Assumptions" criteria, published on March 8, 2019, that requires
the replacement of the counterparty or other remedy, should our
rating fall below the applicable level."

  Preliminary Ratings Assigned

  La Trobe Financial Capital Markets Trust 2024-3

  Class A1S, A$225.00 million: AAA (sf)
  Class A1L, A$375.00 million: AAA (sf)
  Class A2, A$82.50 million: AAA (sf)
  Class B, A$3.10 million: AA (sf)
  Class C, A$19.70 million: A (sf)
  Class D, A$9.00 million: BBB (sf)
  Class E, A$4.20 million: BB (sf)
  Class F, A$1.80 million: B (sf)
  Equity 1, A$1.575 million: Not rated
  Equity 2, A$1.125: Not rated


LOTUS BEER: Second Creditors' Meeting Set for Aug. 19
-----------------------------------------------------
A second meeting of creditors in the proceedings of Lotus Beer Co
Pty Ltd has been set for Aug. 19, 2024 at 12:30 p.m. via Zoom.

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. 16, 2024 at 5:00 p.m.

Matthew Kucianski and Scott Andersen of Worrells were appointed as
administrators of the company on July 15, 2024.


LUCKYS SERVICES: Second Creditors' Meeting Set for Aug. 20
----------------------------------------------------------
A second meeting of creditors in the proceedings of Luckys Services
Pty Ltd has been set for Aug. 20, 2024 at 11:00 a.m. via
teleconference only.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Aug. 19, 2024 at 4:00 p.m.

Mohammad Najjar of Vanguard Insolvency Australia was appointed as
administrator of the company on July 29, 2024.


QARTABA HOMES: McGrathNicol Appointed as Receivers
--------------------------------------------------
Barry Kogan, Damien Pasfield and Robert Smith of McGrathNicol were
appointed as receivers of Qartaba Homes Pty Ltd on Aug. 2, 2024.


REX AIRLINES: Receivers Seek Help From Travellers
-------------------------------------------------
InQueensland reports that EY Australia is working to rescue the
five companies in the Rex Group since the airline grounded its
Boeing 737 fleet on major metropolitan routes in July.

InQueensland relates that Rex's regional flights have continued due
to ongoing funding from private equity firm PAG Asia Capital, but
the carrier's long-term future remains unclear amid calls for a
federal government bailout.

A creditors' meeting on Aug. 9 was told the airline is about $500
million in debt and had launched an asset sale and buyer search in
a desperate effort to stay up in the air.

According to InQueensland, EY partner Samuel Freeman on Aug. 12
said travellers could still be confident about booking on Rex while
administrators were at the helm.

“We're saying to Australians, keep booking with Rex, the
administrators are in control of the business and are overseeing
its operations," he told ABC TV.

“We have demonstrated since the appointment that the Rex planes
are getting people where they need to go to and we've secured
funding to enable us to continue to do so in the administration
period," he said.

Since administrators took control, Rex had transported more than
20,000 passengers on 600 flights, he said.

InQueensland says the creditors' meeting was told the airline was
in daily talks with government figures in Canberra, who have said
they will back Rex as long as it prioritises regional flights.

Nearly 600 jobs at Rex have been axed and about 1,000 more are in
limbo amid uncertainty on the future of the carrier, which is a
critical transport link for regional and remote communities,
InQueensland notes.

The Transport Workers Union, which represents Rex workers, wants
the federal government to take an equity stake in the airline to
secure at-risk jobs and shore up regional transport links.

Asked about Rex workers getting what they were owed, Mr Freeman
said he expected the value of the airline would be "maximised" in a
sale and employee entitlements would be addressed in that process.

A second creditors' meeting, yet to be scheduled, will include a
vote on whether to return the Rex companies to the existing board,
place them under a deed of company arrangement or liquidate,
InQueensland adds.

                         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.

On July 30, 2024, Samuel Freeman, Justin Walsh, and Adam Nikitins
of Ernst & Young Australia (EY Australia) were 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.


S&W SEED: Australian Unit Placed Under Administration
-----------------------------------------------------
S&W Seed Company previously announced in 2023 that it was
evaluating the possibility of a strategic transaction involving the
Company's international operations, which are headquartered within
S&W Seed Company Australia Pty Ltd, a wholly-owned subsidiary of
the Company. That process has not resulted in the consummation of a
transaction, and on July 24, 2024, S&W Australia adopted a
voluntary plan of administration based on its determination that
S&W Australia is likely to become "insolvent" within the meaning of
section 436A(1) of Australia's Corporations Act 2001.

In Australia, voluntary administration is a process whereby an
insolvent company is placed in the hands of one or more independent
administrators whose role is to investigate the company's affairs,
to report to creditors and to recommend to creditors whether the
company should enter into a deed of company arrangement,
liquidation, or be returned to its board of directors. A voluntary
administration involves an investigation of available options to
provide a better return to creditors and, if possible, to save the
business.   

A number of factors combined to lead S&W Australia to conclude that
the voluntary plan of administration was necessary and advisable,
including the lack of viable strategic alternatives, Saudi Arabia's
recent discontinuation of import permits for alfalfa seed, and the
increased risk that S&W Australia would be unable to meet its
obligations under the Amended and Restated Finance Agreement with
National Australia Bank Limited, effective November 17, 2023.

S&W Australia's entry into voluntary administration constitutes an
event of default and automatic acceleration of S&W Australia's
obligations under the NAB Finance Agreement. However, such
acceleration is stayed while S&W Australia is under voluntary
administration. The NAB Finance Agreement is guaranteed by the
Company, up to a maximum of AUD $15 million (USD $9.8 million as of
June 30, 2024). The Company's obligations under the Parent
Guarantee are not subject to a stay in connection with S&W
Australia's voluntary administration.

S&W Australia's entry into voluntary administration also
constitutes an event of default under the Company's Amended and
Restated Loan and Security Agreement with CIBC Bank USA dated
December 26, 2019, as a result of a cross-default provision in the
CIBC Loan Agreement that is triggered by the event of default under
the NAB Finance Agreement. The Company is working towards a remedy
for the event of default with CIBC.

                        About S&W Seed Co.

Longmont, Colo.-based S&W Seed Company is a global multi-crop,
middle-market agricultural company that is principally engaged in
breeding, growing, processing, and selling agricultural seeds. The
Company operates seed cleaning and processing facilities, which are
located in Texas, New South Wales, and South Australia. The
Company's seed products are primarily grown under contract by
farmers. The Company is currently focused on growing sales of its
proprietary and traited products specifically through the expansion
of Double Team for forage and grain sorghum products, improving
margins through pricing and operational efficiencies, and
developing the camelina market via a recently formed partnership.

As of March 31, 2024, the Company had $133.2 million in total
assets, $76.4 million in total liabilities, and total stockholders'
equity of $51.2 million.  S&W Seed cautioned in its Form 10-Q
Report for the quarterly period ended December 31, 2023, that its
operating and liquidity factors raise substantial doubt regarding
the Company's ability to continue as a going concern. According to
the Company, it is not profitable and has recorded negative cash
flows for the last several years. For the six months ended December
31, 2023, the Company reported a net loss of $12.5 million. While
the Company did report net cash provided by operations of $1.4
million for the six months ended December 31, 2023, it expects this
to be negative in fiscal 2024. The positive cash flow in operations
for the six months ended December 31, 2023, was largely due to
changes in operating assets and liabilities. As of December 31,
2023, the Company had cash on hand of $1.1 million. The Company had
$2.4 million of unused availability from its working capital
facilities as of December 31, 2023.

Additionally, the Company's Amended and Restated Loan and Security
Agreement, or the Amended CIBC Loan Agreement, with CIBC Bank USA,
or CIBC, and its debt facilities with National Australia Bank, or
NAB, under the NAB Finance Agreement, contain various operating and
financial covenants. Adverse geopolitical and macroeconomic events
and other factors affecting the Company's results of operations
have increased the risk of the Company's inability to comply with
these covenants, which could result in acceleration of its
repayment obligations and foreclosure on its pledged assets. The
Amended CIBC Loan Agreement as presently in effect requires the
Company to meet minimum adjusted EBITDA levels on a quarterly basis
and the NAB Finance Agreement includes an undertaking that requires
the Company to maintain a net related entity position of not more
than USD$18.5 million and a minimum interest cover ratio at each
fiscal year-end. As of December 31, 2023, the Company was in
compliance with the CIBC minimum adjusted EBITDA covenant as well
as the NAB net related entity position covenant. While the Company
was in compliance with these covenants, there can be no assurance
the Company will be successful in meeting its covenants or securing
future waivers or amendments from its lenders. Currently, the
Company does not expect to meet certain of these covenants in
fiscal 2024. If the Company is unsuccessful in meeting its
covenants or securing future waivers or amendments from its lenders
and cannot obtain other financing, it may need to reduce the scope
of its operations, repay amounts owed to its lenders, or sell
certain assets. Further, if the Company cannot renew or obtain
other financing when its two major debt facilities with CIBC and
NAB expire on August 31, 2024, and March 31, 2025, respectively, it
may need to reduce the scope of its operations.


WATTLE GROVE: Second Creditors' Meeting Set for Aug. 19
-------------------------------------------------------
A second meeting of creditors in the proceedings of Wattle Grove
Air Pty Ltd has been set for Aug. 19, 2024 at 3:00 p.m. at the
offices of 'Westburn Advisory' at Level 5, 115 Pitt Street in
Sydney.

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. 16, 2024 at 4:00 p.m.

Shumit Banerjee of Westburn Advisory was appointed as administrator
of the company on July 16, 2024.




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

DALIAN WANDA: More Asset Sale Sparks Concerns Among Investors
-------------------------------------------------------------
Yicai Global reports that Dalian Wanda Group has sold one more
asset, sparking concerns among investors about the large investment
the Chinese real estate giant announced it would receive.

Yicai relates that Jiangsu Xinghua Wanda Plaza's shareholding
structure changed on Aug. 12, as Wanda's property investment and
management unit Dalian Wanda Commercial Management Group was
replaced by Xinghua Yinglaida Real Estate as the shopping mall's
new owner. Xinghua Wanda Plaza's legal representative also changed
to Zhou Chuanjun from Wang Zhibin.

Moreover, Dalian Wanda Commercial Management Group sold its entire
stake in Dongguan Houjie Wanda Plaza Investment to Suzhou
Lianshangluhao Commercial Management on July 11. In April, New
China Life Insurance and China Capital Investment Group took over
Beijing Wanda Plaza.

On March 30, an investor group consisting of PAG, Citic Capital,
Ares Management, and sovereign wealth funds Abu Dhabi Investment
Authority and Mubadala Investment inked a deal to buy 60 percent of
Newland Commercial Management, the holding company of Zhuhai Wanda
Commercial Management Group, for CNY60 billion (USD8.3 billion).
Wanda would retain the other 40 percent.

The payment was expected to be completed in the second quarter of
the year, according to information disclosed by Wanda back then,
Yicai relays. However, Dalian Wanda Commercial Management is still
the major shareholder of Newland Commercial Management.

The progress of the deal is a little slower than expected, a person
familiar with the matter told Yicai on Aug. 12.

In addition to the strategic investment from the above investor
group, Dalian Wanda Commercial Management was rumored to have
secured CNY10 billion in loans from several banks. But the company
has not yet commented on the matter, Yicai relates.

Wanda has been recently at the center of investors' attention also
because Beijing Wanda Cultural and Tourism Industry had CNY100
million (USD13.9 million) worth of equities frozen from July 30,
this year, to July 29, 2027, Yicai discloses citing corporate
information platform Tianyancha.

                         About Dalian Wanda

Dalian Wanda Group Co., Ltd. operates real estate business. The
Company develops commercial property including commercial centres,
urban pedestrian streets, hotels, office buildings, and apartments.
Dalian Wanda Group also operates tourism investment, cultural, and
department store businesses.

As reported in the Troubled Company Reporter-Asia Pacific in early
December 2023, Bloomberg News said Dalian Wanda Group's founder
Wang Jianlin is planning to sell the rest of the firm's film unit
as the troubled Chinese conglomerate faces increasing debt
repayment pressure.

The billionaire plans to transfer his 51 per cent stake in Beijing
Wanda Investment, which controls Wanda Film Holding, to a
subsidiary of China Ruyi Holdings, according to a Shenzhen Stock
Exchange filing on Dec. 6, 2023. That will give Ruyi full ownership
after its July purchase of 49 per cent of Beijing Wanda Investment
for CNY2.3 billion.

Investors in November 2023 rejected Wanda's proposal to extend the
deadline for the repayment of CNY30 billion plus interest if its
mall unit fails to list shares by the end of this year, Bloomberg
said. Its property arm only recently managed to obtain consent from
creditors to push back the maturity date for a US$600 million US
dollar bond.

The TCR-AP reported in early January 2024, Fitch Ratings downgraded
Dalian Wanda Commercial Management Group Co., Ltd.'s (Wanda
Commercial) and Wanda Commercial Properties (Hong Kong) Co.
Limited's (Wanda HK) Long-Term Foreign-Currency Issuer Default
Ratings to 'RD' from 'C' on completion of the distressed debt
exchange (DDE), in accordance with the distressed debt exchange
section in Fitch's Corporate Rating Criteria.


HUMAN HORIZONS: Seeks CNY300M in Financing to Revive EV Production
------------------------------------------------------------------
Reuters reports that Chinese electric vehicle maker Human Horizons
is seeking debt financing of up to CNY300 million to resume
production at its EV plant, as the parent firm of premium EV brand
Hiphi has filed for a pre-bankruptcy process.

The last-ditch effort by another Chinese EV maker follows
bankruptcy proceedings facing two units of real estate developer
China Evergrande's EV arm and a similar pre-bankruptcy procedure
filed by EV startup WM Motor in October, Reuters says.

Reuters relates that the fundraising, with CNY100 million in the
first round, will be used for guaranteeing after-sales services and
restarting work, production and sales, according to a statement
dated Aug. 10 on the national enterprise bankruptcy information
disclosure platform.

It came two days after a court in the eastern Chinese province of
Jiangsu accepted the company's application for pre-restructuring, a
procedure that allows insolvent firms to seek turnaround under
administrators appointed by the court before being legally
bankrupt, Reuters relates.

Founded in 2017, Human Horizons, with a factory in Jiangsu that
previously made Kia cars, suspended EV production and sales in
February, Reuters notes.

Before that, Human Horizons sold more than 700 HiPhi EVs, priced
between US$47,213 and US$111,418, averagely per month, per Reuters'
calculations based on data from ByteDance's car information
platform Dongchedi.




=========
I N D I A
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A V ANJANEYA: CRISIL Keeps B+ Debt Rating in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of A V Anjaneya
Prasad (AVAP) continues to be 'CRISIL B+/Stable Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Long Term Loan          5         CRISIL B+/Stable (Issuer Not
                                     Cooperating)

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

Incorporated in 2014 as a proprietary concern, (AVAP) operates a 1
MW solar power plant in Honnkatti Village, Bagalkot district of
Karnataka State. The firm is promoted and managed by Mr. A V
Anjaneya Prasad. AVAP has started commercial operations in
December, 2016.


ADISID ASSOCIATES: Voluntary Liquidation Process Case Summary
-------------------------------------------------------------
Debtor: Adisid Associates Private Limited
Prop. No. DTJ010, Ground Floor,
        DLF Tower-B Jasola, New Delhi-110017

Insolvency Commencement Date: July 26, 2024

Court: National Company Law Tribunal New Delhi Bench

Liquidator: Mr. Shashi Bhushan Prasad
  E-43, LGF, Panchsheel Park,
                New Delhi-110017
  Email: shashibpd@gmail.com

Last date for
submission of claims: August 25, 2024


ADORA PRODUCTS: CRISIL Keeps B Debt Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Adora
Products Private Limited (APPL) continue to be 'CRISIL B/Stable
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit           5.5         CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Long Term Loan        8.25        CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Proposed Working      1.25        CRISIL B/Stable (Issuer Not
   Capital Facility                  Cooperating)

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

APPL is Aurangabad based company engaged in contract manufacturing
of anti-biotic, in different forms mainly tablets, capsules and
syrups. APPL is promoted by Mr Mukesh Jain, Mr Sunil Patni, Mr
Pritamkumar Patni, and Mr Anand Nagapurkar along with their family
members.


AISHWARYA AND CO: Voluntary Liquidation Process Case Summary
------------------------------------------------------------
Debtor: Aishwarya and C. P Ltd
No. 12, Janakiram Nagar
        2nd Street First Floor,
        Puthagaram East, Kolathur,
        Chennai 600099

Insolvency Commencement Date: July 24, 2024

Court: National Company Law Tribunal Coimbatore Bench

Liquidator: Ramela Rangasamy,       
     A6, Aryaa Harmony Apartment,
            Police Kandasamy Street,
            Olympus, Ramanathapuram,
            Coimbatore 641045
            Email: aishwaryaandcovolliq@gmail.com
            Cell: 9442617180

Last date for
submission of claims: August 23, 2024


AMBIKA IMPLEX: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Shree Ambika Implex Limited
316 B.D. Chamber,
        10/54 D.B. Gupta Road,
        Karol Bagh, Central Delhi,
        Delhi - 110005

Insolvency Commencement Date: July 23, 2024

Estimated date of closure of
insolvency resolution process: January 19, 2025

Court: National Company Law Tribunal, Mumbai Bench

Insolvency
Professional: Ram Phal Bhardwaj
       310/25, Onkar Nagar- B,
              Tri-Nagar, Delhi - 110035
              Email: bhardwajca@hotmail.com
              Email: cirp.sail@gmail.com

Last date for
submission of claims: August 6, 2023


ANANT AGRO: CRISIL Keeps B+ Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Anant Agro
Industries (Jaivik Krishi Pariyojana) (AAI) continue to be 'CRISIL
B+/Stable Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            15         CRISIL B+/Stable (Issuer Not
                                     Cooperating)

   Proposed Long Term      2         CRISIL B+/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

   Warehouse Receipts      3         CRISIL B+/Stable (Issuer Not
                                     Cooperating)

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

AAI, a proprietorship concern, was set up in 2009 by Mr. Ram
Swaroop Aggarwal. The firm produces cotton bales by ginning kapas.
AAI also has a seed-crushing unit in Bhikangaon (Madhya Pradesh) to
extract cotton oil from cotton seeds.


ANNAPOORNA ENTERPRISES: CARE Keeps D Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sri
Annaporna Enterprises (SAE) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.50       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 July 25, 2023,
placed the rating(s) of SAE under the ‘issuer non-cooperating’
category as SAE had failed to provide information for monitoring of
the rating. SAE continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated June 09, 2024, June 19, 2024, June 29,
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).

Andhra Pradesh based, Sri Annaporna Enterprises (SAE) was
established in the year 2014 as a partnership firm by Mr. Hari Babu
& Mrs. Jayasree. The firm is engaged in the trading of tobacco. The
firm purchases tobacco from local farmers and traders, and sells
the same to its clients located across Andhra Pradesh.

ANNAPURNA INDUSTRIES: CRISIL Keeps B Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Annapurna
Industries - Kanpur (AIK) continue to be 'CRISIL B/Stable Issuer
Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            5          CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Proposed Fund-         0.5        CRISIL B/Stable (Issuer Not
   Based Bank Limits                 Cooperating)

   Warehouse Financing    7          CRISIL B/Stable (Issuer Not
                                     Cooperating)

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

Set up as a partnership firm in 2011 by Ms  Meena Gupta, Ms Mamta
Gupta, Ms Sangeeta Gupta, Mr Sushil Kumar Gupta, and Ms Amboj
Gupta, AIK processes pulses such as masoor, matar, and channa dal
at its milling and grading facility in Kanpur.


ASTER INDUSTRIES: CRISIL Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Aster
Industries (AI) continue to be 'CRISIL B/Stable Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit           3.5         CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Long Term Loan        7.0         CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Proposed Long Term    0.5         CRISIL B/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

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

Established in 1998 as a partnership firm by Mr. Srinivas Reddy, AI
is engaged in the manufacturing of chemical compounds used in a
variety of Industry. The firm is also currently setting up a
manufacturing unit for bulk drugs in Vizag(AP).


BAJPAI REFRIGERATION: CRISIL Keeps B+ Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Bajpai
Refrigeration and Bakers Company (BRBC) continue to be 'CRISIL
B+/Stable Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit             6         CRISIL B+/Stable (Issuer Not
                                     Cooperating)

   Proposed Long Term      2         CRISIL B+/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan               3.75      CRISIL B+/Stable (Issuer Not
                                     Cooperating)

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

BRBC, a partnership firm set up by Mr M C Bajpai, Mrs Sandhya
Bajpai, and Mr Ashok Lakhan, has an integrated cold chain facility
in Kashipur, Uttarakhand, to supply fresh and chilled food produce,
mainly green peas. Commercial operations commenced in January
2015.


BASAVA TEXTILES: CARE Keeps B- Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Shri
Basava Textiles Limited (SBTL) continue to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      14.40       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 SBTL under the ‘issuer non-cooperating'
category as SBTL had failed to provide information for monitoring
of the rating. SBTL 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).

Shri Basava Textiles Limited (SBTL) was incorporated in the year
2013 by Mr. Vijay Metgud, Ms. Jyoti Metgud, and Mr. Jayraj Metgud.
SBTL has its registered office located at Belgaum, Karnataka. The
company is engaged in cotton ginning and pressing. It also
undertakes trading of cotton seeds, Kappas, oil, lint and cake.
Sale of bales, cotton seeds and cake form major portion of its
sales. The company has an installed capacity of 600 cotton bales
per day of lint and 200 tons per day of cotton oil cake. The
promoter's flagship entity M/s Vijay Industries is a family-based
partnership firm and is in the same line of business since 2003.

BHAVESHWAR FINVEST: Voluntary Liquidation Process Case Summary
--------------------------------------------------------------
Debtor: Bhaveshwar Finvest Private Limited
        502, Fine House,
        Anandji Lane, M. G. Road,
        Ghatkopar East, Mumbai,
        Maharashtra, India, 400077

Liquidation Commencement Date: July 5, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Atul Tansukhlal Mehta
            D-613/614, Neelkanth Business Park,
            Opp. Railway Station,
            Vidyavihar (W), Mumbai 400 086.
            Email: mehtaatul@gmail.com
            Email: vl.bhaveshwerfinvest@gmail.com
            Tel. No. 9869084311

Last date for
submission of claims: August 12, 2024


D. S. CONTRACTORS: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of D. S.
Contractors Private Limited (DSCPL) continue to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.69       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      7.00       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 July 10, 2023,
placed the rating(s) of DSCPL under the ‘issuer non-cooperating'
category as DSCPL had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. DSCPL continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 25, 2024, June 4, 2024 and June 14, 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).

DSCPL is a Panaji (Goa) based company promoted by Mr. Swaran Singh
Gill (Managing Director) along with his wife Ms. Jatinder Kaur.
DSCPL undertakes Engineering Procurement Construction (EPC) from
Government bodies as well as Private Companies. The company is a
registered as a Class-IA Contractor in the state of Karnataka and
engaged in civil construction work comprising of buildings, roads,
bridges etc. primarily in the states of Karnataka and Goa.

DIVYASHAKTI FOODS: CARE Keeps B Debt Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Divyashakti
Foods Private Limited (DFPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       9.00       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 5, 2023,
placed the rating(s) of DFPL under the 'issuer non-cooperating'
category as DFPL had failed to provide information for monitoring
of the rating. DFPL continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated April 20, 2024, April 30,
2024, May 10, 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: Consolidated

Consolidated financials of the company include financials of
subsidiary i.e. Divyajyoti Agritech Private Limited (DJAPL) and
associate concern namely Chatak Agro India Private Limited
(CAIPL).

Outlook: Stable

Indore (Madhya Pradesh) based Divya Shakti Fertilizer and Chemicals
Private Limited (DSFCPL) was incorporated in March 19, 2008 by Mr.
Alok Gupta and Mr. Mohit Airen to set up fertilizer manufacturing
plant. Subsequently, it has changed its name
from Divya Shakti Fertilizer and Chemicals Private Limited to
Divyashakti Foods Private Limited from January 21, 2022. However,
it changed the scope of the project and instead of fertilizer
project, decided to set up food processing and preservation unit.
The unit is proposed to be set up at Tillore Khurd district (Teh:
Indore). The unit will be used for processing of vegetables like
onion, garlic, spinach, carrots and others. For this, the company
will carry out the dehydration process of these vegetables and will
sale to the customers as per requirements.


ESCAPOLOGY ENTERTAINMENT: Insolvency Resolution Case Summary
------------------------------------------------------------
Debtor: Escapology Entertainment India Private Ltd.
        Registered Address:
        T-34, R City Mall LBS Marg,
        Ghatkopar West, Mumbai
        400086, Maharashtra

Insolvency Commencement Date: July 23, 2024

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: January 27, 2025

Insolvency professional: Anil Seetaram Vaidya

Interim Resolution
Professional: Anil Seetaram Vaidya
              No 62/65 Bhusari Colony
              Kothrud, Pune - 411 038
              Email: anilvaidya38@gmaill.com

                   -- and --

              Plot No. 107 Mahatma Coop.
              Soc., S.No. 62 /65 Bhusari Colony
              Kothrud, Pune 411038
              Email: cirp.esc@gmail.com

Last date for
submission of claims: August 14, 2024


FUTURE RETAIL: Liquidation Process Case Summary
-----------------------------------------------
Debtor: Future Retail Limited
        2 Floor, Future Group Office,
        SOBO Brand Factory Pt.
        Madan Mohan Malviya Marg,
        Cross Road Tardeo, Mumbai,
        Maharashtra, India - 400034

Liquidation Commencement Date: July 29, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Sanjay Gupta
            C-4E/135, Janak Puri, New Delhi,
            National Capital Territory of Delhi - 110058
            Email-id :sanjay@sgaindia.in

            -- and --

            Primus Insolvency Resolution & Valuation Pvt. Ltd.
            408, 4 Floor, Manish Chambers,
            Sonawala Road, Goregaon (East), Mumbai- 400063
            Correspondence Email-id: liq.frl@primusresolutions.in

Last date for
submission of claims: August 28, 2024


GAGAN MEDIA: CARE Lowers Rating on INR6.16cr LT Loan to B-
----------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Gagan Media Private Limited (GMPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.16       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B; Stable

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated June 5, 2023,
placed the rating(s) of GMPL under the ‘issuer non-cooperating'
category as GMPL had failed to provide information for monitoring
of the rating. GMPL continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated April 20, 2024, April 30,
2024, May 10, 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 GMPL have been
revised on account of non-availability of requisite information.
The revision also factored in declined operating profit level
during FY23 as against FY22.

Gagan Media Private Limited (GMPL) was incorporated on 10th May
2000, under companies' act 1956. It is a Chennai based company
engaged in the trading of computer peripherals such as Desktop,
Laptop, servers & storages, software, multifunction
copiers/printers, LCD/DLP projectors, LCD/LED TV's consumables for
printers/copiers, telecom products, applications, mobile devices,
wireless systems, information security devices, telecommunication
devices and other devices.

GREATER KAILASH HOSPITALS: Insolvency Resolution Case Summary
-------------------------------------------------------------
Debtor: Greater Kailash Hospitals Private Limited
        Registered Address:
        11/2 Old Palasia Greater Kailash,
        Indore, Madhya Pradesh,
        India, 452001

Insolvency Commencement Date: July 30, 2024

Court: National Company Law Tribunal, Indore Bench

Estimated date of closure of
insolvency resolution process: January 28, 2025

Insolvency professional: Mangesh Vitthal Kekre

Interim Resolution
Professional: Mangesh Vitthal Kekre
              607, Chetak Center, RNT Marg,
              Near Hotel Shreemaya,
              Indore, Madhya Pradesh - 452001
              Email: ca.mangesh@gmail.com
              Email: ip.gkhospital@gmail.com

Last date for
submission of claims: August 15, 2024


GWALIOR DISTILLERIES: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Gwalior
Distilleries Private Limited (GDPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      37.50       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 July 11, 2023,
placed the rating(s) of GDPL under the 'issuer non-cooperating'
category as GDPL had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. GDPL continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 26, 2024, June 5, 2024 and June 15, 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).

Gwalior Distilleries Private Limited (GDPL) formerly known as
Gwalior Distilleries Limited was incorporated in the year 1986 by
Mr Govind Yadav to undertake the business of blending and bottling
of Indian made foreign liquor (IMFL). The IMFL blending and
bottling unit of the company is located in district of Madhya
Pradesh.


HARI AADITHYA: Voluntary Liquidation Process Case Summary
---------------------------------------------------------
Debtor: Hari Aadithya Paper Mill Private Limited
        7/10/1 C Kannadasan Street
        Sriram Nagar, Kottaiyur
        Karaikudi - 630108 Tamil Nadu, India

Liquidation Commencement Date: August 8, 2024

Court: National Company Law Tribunal, Chennai Bench

Liquidator: Palanigounder Eswaramoorthy
            44,44/1, 5th Street,
            Ramalinga Jothi Nagar,
            Ramanathapuram,
            Coimbatore - 641 045
            Email: eswarfcs@gmail.com
            Tel No: 0422- 2322333

Last date for
submission of claims: September 1, 2024


HOTEL RAJMAHAL: CARE Keeps B- Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Hotel
Rajmahal (HR) 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 July 6, 2023,
placed the rating(s) of HR under the 'issuer non-cooperating'
category as HR had failed to provide information for monitoring of
the rating. HR continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated May 21, 2024, May 31, 2024, June 10,
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).

Mr. Debi Prasad Mondal is setting up a luxury hotel cum restaurant
under the name "Hotel Raj Mahal" in Birbhum, West Bengal. The hotel
has proposed to provide services like multi-cusine restaurant and
swimming pool and banquet cum conference room among others. The
hotel is expected to comprise of 109 rooms consisting of 93 double
room (deluxe), 8 four bedded room and 6 suits. The total cost of
the project is INR25.23 crore and the same is funded by promoters
contribution of INR10.23 crore and term loan of INR15.00 crore. The
hotel is expected to start in two phases. The Phase-I is expected
to be completed by March 2019 and the commercial operations
expected to start from April 2019. The phase-II and Phase-II is
expected to start from January 2020. The financial closure of the
aforesaid term loan from the bank is yet to be achieved. Mr. Debi
Prasad Mondal (aged 44 years) having almost two decades of
experience in hotel and restaurant business. He is proposed to look
after the overall management of the firm, with adequate support
from a team of experienced personnel.

JAYPEE CEMENT: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Jaypee Cement Corporation Limited
  
        Registered Office:
Sector - 128, Noida, Uttar Pradesh,
        India - 201304

        Other Office:
        64/4 Site-4 Industrial Area Sahibabad 201010,
        Ghaziabad, Uttar Pradesh,
        India - 201010

Insolvency Commencement Date: July 22, 2024

Estimated date of closure of
insolvency resolution process: January 22, 2025

Court: National Company Law Tribunal, Allahabad Bench

Insolvency
Professional: Deepika Bhugra Prasad
       202, Samrat Ashok Enclave,
              Sector-18A, Plot No. 6,
              Dwarka, New Delhi,
              National Capital Territory of Delhi, 110075
              Email: deepika.bhugra@gmail.com

              AAA House, 64, Okhla Estate, Phase III,
              Behind Modi Mills,
              New Delhi-110020
              Email: jaypeecement.cirp@gmail.com

Last date for
submission of claims: August 9, 2024


LAKSHMI TOBACCOS: CARE Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Lakshmi
Tobaccos (LT) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       9.90       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 July 25, 2023,
placed the rating(s) of Lakshmi Tobaccos (LT) under the 'issuer
non-cooperating' category as LT had failed to provide information
for monitoring of the rating. LT continues to be non-cooperative
despite repeated requests for submission of information through
e-mails, phone calls and a letter/email dated June 9, 2024, June
19, 2024, June 29, 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).

Andhra Pradesh based, Lakshmi Tobaccos (LT) was established in the
year 2000 as a proprietorship concern by Mr.S. Narayana Rao.
Lakshmi Tobaccos (LT) is an authorized licensed dealer in tobacco
registered with Tobacco Board for trading of Virginia tobacco
(VFC). LT is mainly engaged in trading of Virginia tobacco.

MAHILA UDYOG: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: Mahila Udyog Limited
        Registered Address:
        17A/1A Laxmanrao Kirloskar Road
        Khadki, Pune, Maharashtra
        India 411003

Insolvency Commencement Date: July 30, 2024

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: January 25, 2025

Insolvency professional: Haresh Babulal Shah

Interim Resolution
Professional: Haresh Babulal Shah
              Flat No. 1, Plot No. 27,
              Matruchaya Building,
              Mitramandal Colony
              Parvati, Pune 411009
              Email: haresh.mergersindia@gmail.com
              Email: mahilaudyog.cirp@gmail.com

Last date for
submission of claims: August 12, 2024


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

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

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated July 10, 2023,
placed the rating(s) of MES under the 'issuer non-cooperating'
category as MES had failed to provide information for monitoring of
the rating. MES continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated May 25, 2024, June 4, 2024 and June 14,
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).

Andhra Pradesh based, MNK Educational Society (MES) was
incorporated in 2009 and promoted by Mr. Ramesh and his relatives
and started commercial operations subsequently. Mr. Ramesh has more
than three decades of experience in food processing industry. The
company is engaged in processing of mango pulp, guava and other
fruit pulps and the processing unit is located at Chittoor
district, Andhra Pradesh.

MOLINA CHEMICALS: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: Molina Chemicals Private Limited
        C-502, Shree Ram Vatika,
        Near Swaminarayan Mandir
        Near Haridarshan Char Rasta,
        Nava Naroda, Ahmedabad,
        Gujarat, India-382330

Insolvency Commencement Date: August 2, 2024

Estimated date of closure of
insolvency resolution process: January 29, 2025

Court: National Company Law Tribunal, Ahmedabad Bench

Insolvency
Professional: Ca Gomti Ramchandra Choudhary
       9-B, Vardan Complex,
              Near Vimal House,
              Lakhudi Circle,
              Navrangpura, Ahmedabad-380014
              Email: cagomtrichoudhary@gmail.com
              Email: molinachemicalsprivatelimited@gmail.com

Last date for
submission of claims: August 16, 2024


NCML DEORIA: Voluntary Liquidation Process Case Summary
-------------------------------------------------------
Debtor: NCML Deoria Private Limited
        Floor-3, Plot No. 833,
        Udyog Vihar, Phase-5 Gurgaon,
        Gurgaon, Haryana, India 122008

Liquidation Commencement Date: July 30, 2024

Court: National Company Law Tribunal, New Delhi Bench

Liquidator: Rajesh Panayanthatta
            First Floor, The Great Eastern Centre
            70 Nehru Place, Behind IFCI Tower
            New Delhi 110019
            Email: prjlegal@gmail.com
            Tel: 98915-49409

Last date for
submission of claims: August 29, 2024


NCML FAIZABAD: Voluntary Liquidation Process Case Summary
---------------------------------------------------------
Debtor: NCML Faizabad Private Limited
        Floor-3, Plot No.-883
        Udyog Vihar, Phase-5
        Gurgaon, Gurgaon
        Haryana, India 122008

Liquidation Commencement Date: July 30, 2024

Court: National Company Law Tribunal, New Delhi Bench

Liquidator: Rajesh Panayanthatta
            First Floor, The Great Eastern Centre
            70 Nehru Place
            Behind IFCI Tower
            New Delhi 110019

Last date for
submission of claims: August 29, 2024


NCML JALALABAD: Voluntary Liquidation Process Case Summary
----------------------------------------------------------
Debtor: NCML Jalalabad Private Limited
        Floor-3, Plot No. 883,
        Udyog Vihar, Phase-5 Gurgaon,
        Gurgaon, Haryana, India 122008

Liquidation Commencement Date: July 30, 2024

Court: National Company Law Tribunal, New Delhi Bench

Liquidator: Rajesh Panayanthatta
            First Floor, The Great Eastern Centre
            70 Nehru Place, Behind IFCI Tower
            New Delhi 110019
            Email: prjlegal@gmail.com
            Tel: 98915-49409

Last date for
submission of claims: August 29, 2024


NILKANTH ORGANICS: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Nilkanth Organics Private Limited
        Registered Address:
        Plot No. 158/1, Gide Estate,
        Ankleshwar, Gujarat,
        India 393002

Insolvency Commencement Date: July 29, 2024

Court: National Company Law Tribunal, Ahmedabad Bench

Estimated date of closure of
insolvency resolution process: January 25, 2024

Insolvency professional: Samir Ganeshbhai Marathe

Interim Resolution
Professional: Samir Ganeshbhai Marathe
              1 First Floor Sumati Avenue,
              Opposite Rajkamal Bakery
              Bhairavnath Road, Maninagar,
              Ahmadabad, Gujarat 380008
              Email: casgmarathe@gmail.com

Last date for
submission of claims: August 12, 2024


OROCORP TECHNOLOGIES: CARE Downgrades Issuer Rating to C
--------------------------------------------------------
CARE Ratings Limited (CARE Ratings) has revised the issuer rating
of Orocorp Technologies Private Limited (Orocorp) from CARE BB;
Stable to CARE C.

In its monthly No-default declaration dated August 5, 2024, the
company reported delays in interest payment for its unlisted
nonconvertible debentures (not rated by CARE Ratings). Revision in
the rating is in line with CARE Ratings' policy of default
recognition. Interest payment of INR5.73 lakh was due on July 31,
2024, for which, the company has made payment on August 2, 2024.
The company had liquidity of INR44.99 crore as on July 31, 2024, of
which, INR41.87 crore was in the form of unencumbered fixed
deposits and INR3.12 crore was in the form of cash and bank
balances.

The rating continues to be constrained by small scale of operations
with geographical concentration of its managed portfolio, nascent
stages of operations with losses reported and limited debt
mobilisation track record. However, the rating draws strengths from
comfortable capitalisation for its current scale of operations,
operating process aided by robust technology and good asset quality
on the managed portfolio.

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

* Increase in the scale of operations along with improvement in
profitability
* Significant equity infusion.
* Default free track record over a time period.

Negative factors - Factors that could, individually or
collectively, lead to negative rating action/downgrade

* Moderation in scale of operations with sharp increase in losses.

Analytical approach:

CARE Ratings has taken a consolidated approach for Orocorp,
assessing the subsidiary Orocorp Finance Private Limited (OFPL) as
a lending arm for the parent, where the subsidiary uses its brand
name and technology platform.

Detailed description of key rating drivers:

Key weaknesses

* Delay in debt servicing despite adequate liquidity: In the
monthly No-default declaration dated August 5, 2024, the company
reported delays in interest payment for its unlisted
non-convertible debentures (not rated by CARE Ratings). Interest
payment of INR5.73 lakh was due on July 31, 2024, for which, the
company has made payment on August 2, 2024. The company had
liquidity of INR44.99 crore as on July 31, 2024.

* Nascent stages of operations with losses reported: Orocorp
reported a net loss of INR20.16 crore in FY23 as against net loss
of INR6.47 crore in FY22. As the subsidiary company is yet to
receive an NBFC license, its income is in the form of servicing
fees from partners. The company is in nascent stages of operations
and operational expenses remain high in relation to managed assets
under management (AUM). Opex stood at 16.63% of AUM in FY24 as
against 25.48% in FY23; which remained high with higher employee
cost. Opex is expected to increase, as the company
expands its presence across new locations and opens physical
disbursement centres. However, opex is expected to stabilise as AUM
increases. On a standalone basis, Orocorp reported a net loss of
INR18.77 crore on a total income of INR9.70 crore in FY24. The
company's ability to control operational expenses and improve
profitability remains a key rating sensitivity.

* Small scale of operations with geographical concentration of
portfolio: OFPL is a 100% subsidiary of Orocorp and has applied for
NBFC license from RBI. Orocorp completed two years of operations,
offering doorstep gold loans to customers through a business
correspondence partnership with Federal Bank. The company also
provides unsecured personal loans through partnership with a NBFC.
The company has operations in Chennai, Bengaluru, Hyderabad, Pune,
and Vijayawada. Scale of operations is small with managed AUM of
INR186 crore as on March 31, 2024, as against INR77 crore as on
March 31, 2023.

* Track record of mobilising debt yet to be established: The
company had a total borrowing of INR10.68 crore as on March 31,
2024. The company does not have on-book lendings and provides loans
only through their partner bank. The company expecting NBFC license
for its subsidiary in the near term, it needs to raise debt in the
subsidiary and its track record of raising debt remains to be
seen.

Key strengths

* Comfortable capitalisation levels for current scale of
operations: Capitalisation is supported by regular infusions by
investors and net worth stood at INR102.82 crore as on March 31,
2024. The group raised capital of INR145 crore since its inception
from a diverse set of PE firms and angel investors. List of
external investors include O21 capital, Premji Invest, 3 states
capital and singularity growth opportunities fund among others. The
company has outstanding borrowings worth INR10.68 crore as on March
31, 2024.

* Operating Process aided by robust technology: Customers can avail
gold loans and unsecured personal loans through the digital
application "Oromoney”. Once the customer expresses interest in
availing gold loan, KYC details need to be updated on the Oromoney
App. The appraisal partner visits the customer to verify KYC and
appraise the gold. Once gold valuation is completed, the user can
select the required loan. All disbursements (100%) are done online
from the Regulated Entity's to the borrower's account. The
collection happens only through the mobile application and there is
no cash collection. The company has two physical branches, however,
the process in these branches is also managed through the mobile
application.

* Good asset quality of managed portfolio: Due to shorter tenure of
the product and secured nature of gold loans, asset quality remains
good. The 90+ days past due (DPD) stood at 0.13% as on March 31,
2023, and Nil as on December 31, 2023. Currently, the company does
not provide first loss default guarantee (FLDG) to its partners.
The company's ability to control delinquencies and maintain good
asset quality, while growing scale of operations remains critical.


Liquidity: Adequate

Liquidity is adequate, as there are limited borrowings of INR10.68
crore as on March 31, 2024, in comparison to the overall company
assets. The company had liquidity of INR44.99 crore as on July 31,
2024, of which, INR41.87 crore was in the form of unencumbered
fixed deposits and INR3.12 crore was in the form of cash and bank
balances.

Orocorp was incorporated in April 2020. OFPL is a 100% subsidiary
of Orocorp. OFPL has applied for an NBFC license with RBI, which is
yet to be granted. Orocorp provides doorstep services for availing
gold loans through an application "Oromoney” app. The company
also offers unsecured personal loans to customers. Currently,
Orocorp acts as a business correspondent to its partner bank and
NBFC. Orocorp has a managed AUM of INR186 crore as on March 31,
2024.


OZONE CHIP: CARE Reaffirms B+ Rating on INR35cr LT Loan
-------------------------------------------------------
CARE Ratings has reaffirmed the ratings on certain bank facilities
of Ozone Chip Board Private Limited, as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      35.00       CARE B+; Stable; Reaffirmed
   Facilities                      

Rationale and key rating drivers

The rating assigned to the bank facilities of Ozone Chip Board
Private Limited continues to be constrained by the operations being
in the nascent stage, residual project execution risk and stiff
competition from other players in the Kerala region. The ratings,
however, derives comfort from the vast experience of all the
promoters in similar lines of business and the established
relations within the industry. The rating also factors in the
healthy financial and physical progress in the ongoing project and
partial commencement of operations from February 2024.

Rating sensitivities: Factors likely to lead to rating actions

Positive factors

* Stabilization of the operations resulting in higher than
envisaged cash inflows

Negative factors

* Any material deviation from envisaged cash accruals resulting in
tight liquidity position.

Analytical approach: Standalone

Outlook: Stable

CARE Ratings Limited believes that the firm would be able to
generate stable revenue once it commences full operations aided by
the experience of the directors in the particle board industry and
the established relationships with suppliers.

Detailed description of the key rating drivers:

Key weaknesses

* Nascent stage of operations: Expected to gradually scale up. The
company is currently setting up a manufacturing facility with a
capacity to produce 4600 chip boards per day at a 7.35-acre land
allotted by 'Wisepark KINFRA' at Palakkad, Kerala. The total
estimated cost of the project is INR60 crores which is funded
by term debt of INR30 Cr, equity infusion from promoters of INR10
Cr and INR20 Cr as unsecured loans. As of 31st March 2024, the
company has spent INR44.99 Cr towards the project with term loans
of INR23.37 crore and balance from Promoters funds and has
partially commenced operations with the production of 8X4 ft
chipboards from February 2024 onwards. The residual project is
expected to be completed as per envisaged timelines with
full-fledged operations expected to commence from October 2024.
While the scale of operations is expected to scale up once the
Capex is completed, the same shall remain a key monitorable from
credit perspective. From 2 months of operations in FY24, the
company reported a modest revenue of INR0.29 crores and in Q1FY25,
has reported revenue of INR7.62 crores.

* Susceptibility to fluctuation in wood prices and fragmented
nature of Industry: The primary raw materials for the group are
wood, paper, and chemicals like Formaldehyde, Phenol, Melamine,
etc. The company is exposed to price volatility risk as wood prices
have remained fluctuating in the past. Also, the industry is highly
fragmented and unorganized in nature thereby putting pressure on
the profitability margins of the companies engaged in this
industry. Furthermore, due to low entry barriers, the competition
gets intensified specifically in Kerala, which might put pressure
on profitability on the existing as well as new players.
Accordingly, the margins of the company may fluctuate depending
upon price movement and level of competition. Although the
promoters are vastly experienced in similar lines of business, the
project state of the entity possess a risk.

Key strengths

* Vast experience of the promoters in similar lines of business:
Ozone Chip Boards Private Limited was incorporated on September 30,
2021. The current Chairman & Managing Director of the company, Mr.
Ummer Chenthara Kutty has experience of 20 years in the industry
and is also the owner of Chenthara Wood Products (plywood
manufacturing), located in Perumbavoor, Kerala. All the other four
promoters of the company also carry experience of between 15-20
years in timber and plywood industries.

* Location advantages by virtue of being present in KINFRA
Industrial Park, Palakkad: The manufacturing plant is located in
'Wispeark KINFRA', and the land has been allotted for a 33-year
leasehold. KINFRA ensures uninterrupted power and water supply.
Palakkad offers advantages in terms of softwood availability and
procurement.

Liquidity: Stretched

The liquidity of the company is stretched with modest cash accruals
in two months of operations in FY24. However, the repayment shall
commence from October 2024 by which time the company is expected to
commence full-fledged operations and report
higher cash accruals in FY25. The company has repayment obligation
of approx. INR1.87 crores in FY25 which is expected to be met from
the internal accruals which has been expected in the range of
INR4-5 cores. In case the projected cash flows from operations are
insufficient to meet the debt repayment obligation, the resourceful
promoters of the company are expected to bring in funds to service
the debt.

Ozone Chip Boards Private Limited is a private limited company
incorporated on September 30, 2021, by Mr. Ummer Chenthara Kutty,
Mr. Shakkeer and Mr. Padinjareveettil Azeez Ansar. Mr. Abubacker K
P and Adv. Fahid K A were later inducted on to the board. Ozone
Chips Pvt Ltd has its registered office at Perumbavoor, Kerala. The
company is in the process of setting up a particle board factory at
Kanjikode industrial Park (KINFRA) Palakkad, Kerala and has
partially commenced operations from February 2024. The DCCO date
for full-fledged operations is October 2024. The particle boards
find application in interior works and furniture industry products
such as cup boards, office partitions, Cubicles etc.


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

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

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated July 10, 2023,
placed the rating(s) of PMI under the 'issuer non-cooperating'
category as PMI had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. PMI continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 25, 2024, June 4, 2024 and June 14, 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).

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


POINT DEVELOPERS: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: Point Developers Private Limited
Office No. 505, Business Point,
        D. K. Sandhu Marg,
        Opp. Saibaba Mandir,
        Chembur, Mumbai 400071

Insolvency Commencement Date: July 26, 2024

Estimated date of closure of
insolvency resolution process: January 22, 2025

Court: National Company Law Tribunal, Mumbai Bench

Insolvency
Professional: Manoj Kumar Agarwal
       B 83, Andheri Green Field Tower CHS Limited,
              Jogeshwari Vikroli Link Road,
              Near Poonam Nagar,
              Andheri East, Mumbai - 400 093
              Email: ipmanoj.agarwal@gmail.com
              Email: cirp.pdpl@gmail.com

Last date for
submission of claims: August 12, 2024


PROGRESSIVE METERS: Liquidation Process Case Summary
----------------------------------------------------
Debtor: Progressive Meters Private Limited
        Flat No. 2C, 2nd Floor,
        Urvashi Apartments,
        3 Hungerford Street,
        Kolkata,
        West Bengal, India 700071

Liquidation Commencement Date: July 12, 2024

Court: National Company Law Tribunal, Kolkata Bench

Liquidator: Rakesh Kumar Agarwal
            20, N.S. Road, Block-A, 1st Floor,
            Room No. 15 Kolkata 700001
            Email: rakesh202@hotmail.com
            Email: progressivemeters.sipl@gmail.com

Last date for
submission of claims: August 30, 2024


RADIO ROCKET: Voluntary Liquidation Process Case Summary
--------------------------------------------------------
Debtor: Radio Rocket Private Limited
        D-58, Basement, Kalkaji
        New Delhi-110019

Insolvency Commencement Date: July 27, 2024

Court: National Company Law Tribunal Delhi Bench

Liquidator: Nitesh Kumar Sinha
            E-262, LGF, East of Kailash
            New Delhi - 110065
            Email: info@csnitesh.com
            Mobile: 9871500827

Last date for
submission of claims: August 26, 2024


RAM INDUSTRIES: CARE Keeps B- Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Shri Ram
Industries- Fazilka (SRIF) continue to remain in the 'Issuer Not
Cooperating' category.

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

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated July 25, 2023,
placed the rating(s) of SRIF under the 'issuer non-cooperating'
category as SRIF had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. SRIF continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
June 9, 2024, June 19, 2024 and June 29, 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).

Shri Ram Industries - Fazilka (SRIF) was established on March 19,
2014 as a partnership firm by Mr. Ashok Kumar Goomber, Mr. Rajan
Goomber and Mr. Varun Doda to setup the business of rice
processing. The plant has been set-up at Jatwali Village,
Fazilka district, Punjab.


RANA OIL: CARE Keeps B- Debt Rating in Not Cooperating Category
---------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Rana Oil
Industries (ROI) continue 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 July 19, 2023,
placed the rating(s) of ROI under the 'issuer non-cooperating'
category as ROI had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. ROI continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
June 3, 2024, June 13, 2024 and June 23, 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).

ROI was established as a partnership concern in the year 1996. The
firm is engaged in ginning and pressing of cotton and extraction of
oil from cotton seed. The ginning and pressing unit and oil
extraction unit is located at Yavatmal, Maharashtra.


RELIANCE CAPITAL: Hindujas Deposit INR2,700 Crore in Escrow
-----------------------------------------------------------
NDTV Profit reports that in compliance with directions from the
National Company Law Tribunal, the Hinduja Group-owned IndusInd
International Holdings Ltd. has deposited INR2,700 crore into an
escrow account selected by the Committee of Creditors, as part of
the ongoing insolvency process of Reliance Capital Ltd., people
familiar with the matter told NDTV Profit.

However, IIHL is currently awaiting government approval for foreign
direct investment, before proceeding with further compliance
measures, the person said on the condition of anonymity, NDTV
Profit relays.

Previously, the NCLT had directed IIHL to deposit INR250 crore into
an Indian escrow account for domestic equity and an additional
INR2,500 crore into an offshore escrow account for foreign equity,
contingent upon obtaining the necessary governmental approvals.

According to NDTV Profit, the tribunal also mandated that IIHL
submit term sheets for a INR7,300 crore loan, which was to be
deposited into a designated account by an extended deadline,
subject to FDI approval.

NDTV Profit relates that IIHL was also instructed to provide an
affidavit by July 31, confirming its compliance with these
obligations. Due to compliance-related challenges, IIHL requested
an extension, leading the NCLT to direct the company to deposit the
funds into an escrow account chosen by the CoC.

Reliance Capital is seeking a 16% interest on the INR7,500-crore
amount, a term that IIHL has not agreed to, NDTV Profit relays. The
situation remains under the scrutiny of the NCLT as the parties
work towards resolving these financial and compliance complexities
in the ongoing insolvency proceedings.

                       About Reliance Capital

Headquartered in Mumbai, India, Reliance Capital Limited --
https://www.reliancecapital.co.in/ -- a non-banking financial
company, primarily engages in lending and investing activities in
India, Singapore, and Mauritius. The company operates through
Finance & Investment, General Insurance, Life Insurance, Commercial
Finance, Home Finance, and Others segments. It offers life, health,
and general insurance products; brokerage and distribution
services, including stock broking, wealth management, and third
party distribution; and commercial and home finance services, such
SME, retail, microfinance, renewable, affordable housing, and home
loans, as well as loans against property and construction finance.
The company also provides asset reconstruction, institutional
broking, and proprietary investments services, as well as other
financial and allied services. The company was formerly known as
Reliance Capital & Finance Trust Limited and changed its name to
Reliance Capital Limited in January 1995.

On Nov. 29, 2021, the Reserve Bank of India superseded Reliance
Capital's board following payment defaults and governance issues,
and appointed Nageswara Rao Y as the administrator for the
bankruptcy process, Financial Express said. The regulator also
filed an application for initiation of Corporate Insolvency
Resolution Process (CIRP) against the company before the National
Company Law Tribunal's (NCLT) Mumbai bench.

In an order dated Dec. 6, 2021 of the National Company Law
Tribunal, Mumbai (NCLT), corporate insolvency resolution process
has been initiated against Reliance Capital as per the provisions
of the Insolvency and Bankruptcy Code (IBC), 2016.

In February 2022, RBI appointed administrator invited EoIs for sale
of Reliance Capital assets and subsidiaries.

Reliance Capital had a debt of over INR40,000 crore, and four
applicants had initially bid with resolution plans. However, the
committee of creditors rejected all four plans for lower bid
values, and a challenge mechanism was initiated in which IIHL and
Torrent Investments participated, The Economic Times said.


RISHI RAJ: CARE Keeps D Debt Ratings in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Rishi Raj
Construction (RRC) continue to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank     20.00       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 July 19, 2023,
placed the rating(s) of RRC under the 'issuer non-cooperating'
category as RRC had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. RRC continues to
be non-cooperative despite repeated requests for submission of
information through emails, phone calls and a letter/email dated
June 3, 2024, June 13, 2024 and June 23, 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).

Rishi Raj Construction (RRC) was established in 2002 as a
partnership firm by Mr. Sandeep Kumar and his family members. The
overall operations of the firm are currently being managed by Mr.
Sandeep Kumar who is a graduate by qualification and has an overall
experience of around two decades in the civil construction
industry. Further, he is supported by the partners, Ms. Vandana
Yadav, Mr. Suraj Singh, Ms. Vimla Devi, Mr. Chandra Pal Singh, Mr.
Kaushal Kishore and Mr. Yadavendra Pratap Singh who all are
graduates by qualification and have an experience of around a
decade through their association with RRC. RRC is engaged in
execution of civil construction projects such as construction of
road and bridges mainly for National Highway Authority of India,
Indian Railways, PWD (Public Welfare Department) in Uttar Pradesh
and Madhya Pradesh.


S. K. FOODS: CARE Keeps D Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of S. K. Foods
(SKF) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       15.00      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 July 26, 2023,
placed the rating(s) of SKF under the 'issuer non-cooperating'
category as SKF had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. SKF continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
June 10, 2024, June 20, 2024 and June 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).

SKF is engaged in the business of milling and processing of basmati
rice. In addition to paddy processing, the firm is also engaged in
procurement of semi-processed rice from the market which is further
processed through color sorter and grading machines to remove the
impurities. The firm has an installed manufacturing capacity at
Nissing (Karnal, Haryana).



SAMARTTHA TRIMURTI: CARE Keeps B- Debt Rating in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Samarttha
Trimurti Properties (STP) 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 July 20, 2023,
placed the rating(s) of STP under the 'issuer non-cooperating'
category as STP had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. STP continues to
be non-cooperative despite repeated requests for submission of
information through emails, phone calls and a letter/email dated
June 4, 2024, June 14, 2024 and June 24, 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 the year 2012, STP is the special purpose vehicle of
Samarttha Group (SG). SG is one of the reputed real estate group in
Pune. The group has completed 15 projects in the last 15 years. STP
was established with a view to execute the real estate project
namely "41 Estara" in Punawale, Pune.


SAPPHIRE CLOTHING: Liquidation Process Case Summary
---------------------------------------------------
Debtor: Sapphire Clothing Company India Private Limited
        5/422, Pallladam to Pollachi Main Road
        K Krishnapuram Village,
        Kamanaickenpalayam, Tirupur 641658

Liquidation Commencement Date: July 31, 2024

Court: National Company Law Tribunal, Chennai Bench

Liquidator: Prabhu S
            SPP Insolvency Professionals LLP
            2nd Floor, CODISSIA, G.D. Naidu Towers,
            Huzur Road, Coimbatore 641018
            Phone: +91-94888-10404
            Email: sapphire.cirp@gmail.com
            Email: ipeadmin@sppgroups.com

Last date for
submission of claims: August 31, 2024


SARGAM INDIA: Liquidation Process Case Summary
----------------------------------------------
Debtor: Sargam India Electronics Private Limited
        Garg Trade Centre, Block No. 1, Third Floor,
        Behind SBI Bank, Sector-11,
        Rohini Delhi 110085

Liquidation Commencement Date: July 29, 2024

Court: National Company Law Tribunal, New Delhi Bench

Liquidator: Paban Kumar Jain
            210, Neelkanth Plaza,
            15, Community Centre,
            Pitampura, Road No. 44 , North West,
            National Capital Territory of Delhi, 110034
            Email: jainchi@hotmail.com

                   -- and --

            405, New Delhi House, 27 Barakhamba Road,
            Connaught Place, New Delhi 110001
            Email: sargamindiaelectronics.ibc@gmail.com

Last date for
submission of claims: August 28, 2024


SCG EXPORTS: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: SCG Exports Pvt Ltd
        Registered Address:
        17/3, Sambhu nath,
        Das Lane, LP 100/8,
        South Sinhee, Kolkata,
        West Bengal 700050

Insolvency Commencement Date: August 1, 2024

Court: National Company Law Tribunal, Kolkata Bench

Estimated date of closure of
insolvency resolution process: January 28, 2025

Insolvency professional: Amit Gupta

Interim Resolution
Professional: Amit Gupta
              101, Kanakia Atrium 2,
              Cross Road A, Chakala MIDC,
              Andheri East, Mumbai – 400093
              Email: caamith.gupta@gmail.com
              Email: cirp.scgexports@gmail.com

Last date for
submission of claims: August 15, 2024


SIGNATURE AUTOMOBILES: CARE Keeps B- Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Signature
Automobiles India Private Limited (SAIPL) continues to remain in
the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       9.30       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 SAIPL under the 'issuer non-cooperating'
category as SAIPL had failed to provide information for monitoring
of the rating. SAIPL 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
and 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).

The ratings assigned to the bank facilities of SAIPL have been
revised on account of non-availability of requisite information.
The revision further considers decline in overall profitability,
leveraged capital structure and weak debt coverage indicators
during FY23 over FY22.

Signature Automobiles India Private Limited (SAIPL) is a Kerala
based company incorporated in 2010 by Mr. P. Naziruddin and his
wife Mrs. Sujatha Naziruddin. SAIPL is engaged in the business of
exclusive automobile dealership for Honda Cars India Limited (HCIL)
for selling passenger cars in the Kannur region. Besides this, it
has a service centre which provides aftersales services, spare
parts and accessories for Honda cars.


SKYLINE ASSOCIATES: Voluntary Liquidation Process Case Summary
--------------------------------------------------------------
Debtor: Skyline Associates Private Limited
Prop. No. DTJ010, Ground Floor,
        DLF Tower-B, Jasola,
        New Delhi-110017

Insolvency Commencement Date: July 26, 2024

Court: National Company Law Tribunal New Delhi Bench

Liquidator: Mr. Shashi Bhushan Prasad
            E-43, LGF, Panchsheel Park,
            New Delhi-110017
            Email: shashibpd@gmail.com

Last date for
submission of claims: August 25, 2024


SPACEAGE STORAGE: CARE Keeps B- Debt Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Spaceage
Storage Concepts Private Limited (SSCPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       4.50       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 8, 2023,
placed the rating(s) of SSCPL under the 'issuer non-cooperating'
category as SSCPL had failed to provide information for monitoring
of the rating. SSCPL continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated April 23, 2024, May 3, 2024
and May 13, 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).

Spaceage Storage Concepts Private Limited (SSCPL) was incorporated
in the name Cutting Edge Engineering Services in the year 2006 by
Mr. G. S. Prasad, Managing Director. During December 2013, the name
of the company was changed to present nomenclature. SCPL is engaged
in manufacturing and supply of storage and material handling
equipment such as racks, trolleys, and trays of various
specifications and models.


SPENTA SUN: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: Spenta Sun City Private Limited
        Office No. 1052, 10th Floor, Hubtown Solaris
        N.S Phadke Road,
        Saiwadi, Andheri East,
        Mumbai City, Mumbai,
        Maharashtra, India 400069

Insolvency Commencement Date: July 10, 2024

Estimated date of closure of
insolvency resolution process: January 6, 2025 (180 Days)

Court: National Company Law Tribunal, Mumbai Bench

Insolvency
Professional: Gajesh Labhchand Jain
       501, Clifton Society,
              Shastri Nagar, Raviraj Oberoi Marg,
              Andheri West, Mumbai - 400053
              Email: gajeshjain@gmail.com
              Email: cirp.spentasuncity@gmail.com

Last date for
submission of claims: July 24, 2024


SUB-K IMPACT: Voluntary Liquidation Process Case Summary
--------------------------------------------------------
Debtor: Sub-K Impact Finance Private Limited
        3rd Floor, Surabhi Arcade,
        Troop Bazaar, Bank Street,
        Koti, Hyderabad, Telangana 500001

Liquidation Commencement Date: July 31, 2024

Court: National Company Law Tribunal, Hyderabad Bench

Liquidator: Narender Reddy Banala
            3-7-406/PS/204, 2nd Floor,
            Flat 204, Parkstone Apartments,
            Sirimalle Nagar Colony,
            Hyderguda, Hyderabad 500048,
            Ranga Reddy District, Telangana
            Email: bnreddy.acs@gmail.com
            Tel: 9177366615

Last date for
submission of claims: August 30, 2024


SUUMAYA INDUSTRIES: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: Suumaya Industries Limited
Wing B, 20th Floor, Lutos Corporate Park,
        Western Express Highway,  
        Goregaon East, Mumbai,
        Maharahstra - 400063

Insolvency Commencement Date: August 2, 2024

Estimated date of closure of
insolvency resolution process: January 29, 2025

Court: National Company Law Tribunal, Mumbai Bench

Insolvency
Professional: Pawan Kumar Singal
       MP 114, Pitampura, Delhi 110034
              Email: pawansingal50@gmail.com
              Email: cirp.suumaya2gmail.com

Last date for
submission of claims: August 16, 2024


T & V FINANCIAL: Voluntary Liquidation Process Case Summary
-----------------------------------------------------------
Debtor: T & V Financial Services Private Limited
        361, Avvai Shanmugham Salai,
        Gopalapuram, Chennai - 600086

Liquidation Commencement Date: July 15, 2024

Court: National Company Law Tribunal, Chennai Bench

Liquidator: Chitra Perinkulam Ragavan
            "Anurag", Old No 16,
            New No: 7 Appadurai Street,
            Seethamma Colony, Teynampet,
            Chennai - 600018, Tamilnadu
            Email: chitraprc@yahoo.com
            Mobile No: +919841080995

Last date for
submission of claims: August 14, 2024


W HEALTH: Voluntary Liquidation Process Case Summary
----------------------------------------------------
Debtor: W Health Ventures Advisory India Private Limited
Office No 1007, 10th Floor, Roots Tower,
        Distt Centre, Laxmi Nagar,
        Delhi, India, 110092

Insolvency Commencement Date: July 24, 2024

Court: National Company Law Tribunal New Delhi Bench

Liquidator: MR. Sumit Sharma
     C-3/69 A, Keshav Puram, Delhi - 110035
            Email: vliq.whealthventures@gmail.com
            Tel No: +91-7738336596

Last date for
submission of claims: August 23, 2024




=================
I N D O N E S I A
=================

ALAM SUTERA: Moody's Raises CFR to B3 & Alters Outlook to Stable
----------------------------------------------------------------
Moody's Ratings has upgraded the corporate family rating of Alam
Sutera Realty Tbk (P.T.) to B3 from Caa1 and revised the rating
outlook to stable from negative.

"The rating upgrade to B3 reflects Alam Sutera's early redemption
of its US dollar bond, which proactively addressed its refinancing
risk in November 2025 and will lower its interest expense," says
Rachel Chua, a Moody's Ratings Vice President and Senior Analyst.

RATINGS RATIONALE  

In July 2024, the company used proceeds from a new loan to fund the
early redemption of its outstanding $237.2 million 2025 bond, which
had a coupon of 12%, at a slight premium of 100.7813% of par value.
Moody's estimate there will be annual interest savings of around
$10 million at the exchange rate.

The new loan used for the bond redemption is a IDR3.9 trillion
10-year amortizing secured loan from Bank Central Asia Tbk (P.T.)
(Bank Deposits: Baa2; Baseline Credit Assessment: baa2, stable) and
has an interest rate that is lower than the 12% on the 2025 US
dollar bond.

The repayment of the company's US dollar bond removes the large
debt maturity wall in 2025 and significantly reduces refinancing
pressures over the next 12-18 months. Prior to the redemption, the
2025 US dollar bond accounted for 62% of Alam Sutera's total
borrowings at June 30, 2024.

Alam Sutera's marketing sales of its land lots and properties grew
20% in 2024 to IDR1.2 trillion during the first half of 2024,
compared with a year ago.

Moody's forecast core marketing sales will likely improve to IDR2.0
trillion-IDR2.2 trillion in 2024 compared with IDR1.8 trillion a
year ago.

The company has a IDR2.8 trillion target this year and had achieved
42% of this target in the first six months. Moody's will closely
monitor sales progress over the next few quarters.

Alam Sutera's marketing sales in recent years as well Moody's
forecasts substantially fall short of its operations in  the years
before 2022, underscoring the challenging dynamics in the
Indonesian property sector.

Alam Sutera's B3 CFR continues to reflect its weak credit metrics.
Leverage -- as measured by adjusted debt/EBITDA -- will be around
5.5x while EBIT interest coverage will also remain weak at around
2.0x through 2025.

ESG CONSIDERATIONS

Alam Sutera's CIS-4 indicates the rating is lower than it would
have been if ESG risk exposures did not exist. This reflects the
company's exposure to governance risks driven by its concentrated
ownership and weak financial policy associated with its high
leverage and history of distressed exchanges. This is also balanced
by the company's recent efforts to redeem its bond ahead of
maturity.

LIQUIDITY

Alam Sutera's liquidity is adequate through 2025. Its cash balance
(including fixed deposits) of IDR1.2 trillion as of June 30, 2024
and Moody's expectations of operating cash flows of IDR26 billion
will sufficiently cover its cash needs, including debt maturities
of IDR0.8 trillion and capital spending of IDR0.3 trillion through
2025. Proceeds from the IDR3.9 trillion new BCA loan were applied
toward the repayment of the US dollar bond.

The stable rating outlook reflects Moody's expectations that Alam
Sutera's marketing sales will improve gradually and that the
company would comfortably service its interest payments with cash
flows from operations.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Moody's could upgrade Alam Sutera's rating if the company
establishes a track record of sustained improvement in its
operating and financial profiles. Upward rating pressure would also
require (1) the company to continue to execute its core marketing
sales back to historical levels of IDR3.0-4.0 trillion; and (2) for
net operating cash flows to improve meaningfully.

Specific credit metrics that will support an upgrade include
leverage below 4.0x-4.5x and interest coverage above 2.5x.

On the other hand, Moody's would downgrade Alam Sutera's rating if
the operating environment deteriorates, leading to a protracted
weakness in marketing sales, or its risk of default increases
materially.

The principal methodology used in these ratings was Homebuilding
and Property Development published in October 2022.

Established in November 1993 and listed on the Indonesian Stock
Exchange in December 2007, Alam Sutera Realty Tbk (P.T.) is an
integrated property developer in Indonesia that focuses on the sale
of land lots in accordance with township planning requirements, as
well as property development in residential and commercial segments
in Indonesia. As of March 31, 2024, the family of The Ning King
owned around 50.2% of the company.




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

ARCH FINANCE 2007-1: Moody's Hikes Rating on JPY12BB Debt From Ba1
------------------------------------------------------------------
Moody's Ratings has upgraded to Baa2 (sf) from Ba1 (sf) the rating
on Arch Finance Limited's repackaged notes.

The affected rating is as follows:

Arch Finance Limited Series 2007-1 Reverse Dual Currency Loan

JPY12,363,538,000 Series 2007-1, Upgraded to Baa2 (sf); previously
on Mar 6, 2024 Upgraded to Ba1 (sf)

RATINGS RATIONALE

The rating action follows Moody's rating action on the collateral
on Aug 6, 2024. The rating on the collateral has been upgraded by
two notches.

The rating of the notes mainly reflect the credit quality of the
collateral asset, the credit quality of the swap counterparty, and
the strength of the transaction structure.

If the rating on the collateral asset or swap counterparty change,
the rating on the notes may also change.

The principal methodology used in this rating was "Repackaged
Securities (Japanese)" published in June 2024.

Factors that would lead to an upgrade or downgrade of the rating:

Factors that could lead to a rating downgrade or upgrade are a
deterioration or improvement in the credit quality of the
collateral asset and the swap counterparty.




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

ALI HOMES: Creditors' Proofs of Debt Due on Sept. 12
----------------------------------------------------
Creditors of Ali Homes (NZ) Limited and QCProjects Limited are
required to file their proofs of debt by Sept. 12, 2024, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on Aug. 6, 2024.

The company's liquidator is:

          Craig Young
          PO Box 87340
          Auckland


CAREJOBZ LIMITED: Creditors' Proofs of Debt Due on Sept. 3
----------------------------------------------------------
Creditors of Carejobz Limited, Delete NZ Limited and Stellaria
Construction Limited are required to file their proofs of debt by
Sept. 3, 2024, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on Aug. 6, 2024.

The company's liquidators are:

          Steven Khov
          Kieran Jones
          Khov Jones Limited
          PO Box 302261
          North Harbour
          Auckland 0751


GLASSFORCE (2006): Creditors' Proofs of Debt Due on Sept. 20
------------------------------------------------------------
Creditors of Glassforce (2006) Limited are required to file their
proofs of debt by Sept. 20, 2024, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Aug. 5, 2024.

The company's liquidators are:

          Malcolm Hollis
          Judith Shields
          C/o PwC
          PO Box 13244, City East
          Christchurch 8141


HEADFORD PROPAGATORS: Placed Into Liquidation
---------------------------------------------
Otago Daily Times reports that a long-standing South Canterbury
wholesale plant business which employed 28 staff has been placed
into liquidation by shareholder resolution.

In their initial report to creditors and shareholders of Headford
Propagators, liquidators Trevor and Emma Laing said the reasons
cited included a recent significant reduction in turnover -
estimated at more than NZD400,000 in the last two months - reduced
plant sales, loss of regional and local authority sales, transport
rate competition and a significant increase in costs, ODT relates.

The business, near Morven, has been supplying plants to the
wholesale market since 1994. The majority owners are Grant Hayman,
who is also chief executive, and his wife, Robynne.

According to ODT, Waimate Mayor Craig Rowley said it was very
disappointing and he felt for both the Haymans and the other
families affected. Times were tough like everywhere else.

"I hate to see any business in the district go down that sort of
route," ODT quotes Mr. Rowley as saying.

The company operated a nursery involved in large-scale propagation
of plants from seeds and cuttings for the wholesale market. It also
provided a freight service to deliver plants, trees and general
freight as well as providing engineering services.

ODT say the liquidators had only recently been appointed and their
knowledge at this stage was limited. It appeared the director (Mr
Hayman) and shareholders had sought appropriate professional advice
and taken proactive action which, to some extent, had limited the
effects of the company's financial situation, the report said.

Assets comprised commercial freight vehicles, including large truck
and trailer units, and specialised machinery and equipment used in
the engineering workshop and in the nursery operation. There was
also a significant amount of plant inventory at varying stages of
growth, ODT says.

There were 24 registrations recorded on the Personal Property and
Securities Register. The liquidators were aware of referential
employee entitlements outstanding relating to wages and holiday pay
entitlements, which was expected to be significant.

ODT adds that the liquidators had also been advised the company has
Inland Revenue Department liabilities. Initial inquiries indicated
the company had substantial inventory available for realisation and
those funds, after costs of sale had been deducted, would be
applied to preferential debt.

At this stage, the liquidators were aware of 93 unsecured
creditors.


HOWICK CONSTRUCTORS: Court to Hear Wind-Up Petition on Sept. 10
---------------------------------------------------------------
A petition to wind up the operations of Howick Constructors Limited
will be heard before the High Court at Hamilton on Sept. 10, 2024,
at 10:45 a.m.

John Barker and Lucy Barker filed the petition against the company
on July 19, 2024.

The Petitioner's solicitors are:

          Brent James Norling
          Clayton Bevis Edy
          Level 3, Building 2
          61 Constellation Drive
          Rosedale
          Auckland


M.R. ANDREWS: Court to Hear Wind-Up Petition on Aug. 23
-------------------------------------------------------
A petition to wind up the operations of M.R. Andrews Limited will
be heard before the High Court at New Plymouth on Aug. 23, 2024, at
2:15 p.m.

The Commissioner of Inland Revenue filed the petition against the
company on May 27, 2024.

The Petitioner's solicitor is:

          Charles David Walmsley
          Inland Revenue, Legal Services
          21 Home Straight
          PO Box 432
          Hamilton




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

ACE AUTOLUTION: Court Enters Wind-Up Order
------------------------------------------
The High Court of Singapore entered an order on July 26, 2024, to
wind up the operations of Ace Autolution Pte. Ltd.

Maybank Singapore Limited filed the petition against the company on
July 3, 2024.

The company's liquidators are:

          BDO Advisory Pte Ltd
          600 North Bridge Road
          #23-01 Parkview Square
          Singapore 188778


COSMOS GROUP: Halts Authorized Capital Increase, Withdraws DEF 14C
------------------------------------------------------------------
Cosmos Group Holdings Inc. disclosed in a Form 8-K Report filed
with the U.S. Securities and Exchange Commission that on July 29,
2024, the Company has decided to terminate the previous plan to
increase the Company's authorized capital from 5,030,000,000 to
505,030,000,000 shares. The Company's authorized capital will
remain at 5,030,000,000 shares, with no amendment has made to the
Articles of Incorporation.

The Company is withdrawing from the Form DEF 14C which was filed on
May 24, 2024 for the above mentioned terminated plan to increase of
authorized capital.

                       About Cosmos Group

COSG is a Nevada holding company with operations conducted through
its subsidiaries based in Singapore and Hong Kong. The Company,
through its subsidiaries, is engaged in two business segments: (i)
the physical arts and collectibles business, and (ii) the
financing/money lending business.

As of March 31, 2024, the Company had $17,710,057 in total assets,
$64,725,232 in total liabilities, and stockholders' deficit of
$47,015,175.

The Company's auditor Olayinka Oyebola & Co. has expressed that
there is substantial doubt about the Company's ability to continue
as a going concern.  In its December 7, 2023 Report of Independent
Registered Public Accounting Firm, the Company's Auditor addressed
the Shareholders and Board of Directors of Good Gaming, Inc.,
stating, "The Company suffered an accumulated deficit of
$130,555,579 and a net loss of $104,126,076. These matters raise
substantial doubt about the Company's ability to continue as a
going concern."


LAM CHEE: Creditors' Meetings Set for Aug. 26
---------------------------------------------
Lam Chee Metal Works Pte. Ltd. and Seng Hong Hardware Pte. Ltd.
will hold a meeting for its creditors on Aug. 26, 2024, at 10:00
a.m. and 11:00 a.m. via Zoom.

Agenda of the meeting includes:

   a. to lay a full statement of the Company's affairs together
      with a list of creditors and the estimated amounts of their
      claims;

   b. to nominate Liquidator(s) or confirm the nomination of
      Liquidator(s) by member(s);

   c. to consider and if thought fit, appoint a Committee of
      Inspection consisting of not more than 5 persons, whether
      creditors or not, for the purpose of winding up the Company;

      and

   d. Any other business.

Mr. Lau Chin Huat and Mr. Yeo Boon Keong of Technic Inter-Asia were
appointed as Provisional Liquidators of Lam Chee Metal Works and
Seng Hong Hardware on Aug. 6, 2024.


LHC COATINGS: Court Enters Wind-Up Order
----------------------------------------
The High Court of Singapore entered an order on July 26, 2024, to
wind up the operations of LHC Coatings Pte. Ltd.

Maybank Singapore Limited filed the petition against the company on
July 2, 2024.

The company's liquidators are:

          BDO Advisory Pte Ltd
          600 North Bridge Road
          #23-01 Parkview Square
          Singapore 188778


M2 COMMERCIAL: Court Enters Wind-Up Order
-----------------------------------------
The High Court of Singapore entered an order on July 26, 2024, to
wind up the operations of M2 Commercial Leasing Pte. Ltd.

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

The company's liquidators are:

          BDO Advisory Pte Ltd
          600 North Bridge Road
          #23-01 Parkview Square
          Singapore 188778


MEGAHOUSE PTE: Court Enters Wind-Up Order
-----------------------------------------
The High Court of Singapore entered an order on July 26, 2024, to
wind up the operations of Megahouse Pte. Ltd.

Maybank Singapore Limited filed the petition against the company.

The company's liquidators are:

          BDO Advisory Pte Ltd
          600 North Bridge Road
          #23-01 Parkview Square
          Singapore 188778


NTEGRATOR HOLDINGS: Faces Potential Insolvency Proceedings
----------------------------------------------------------
TipRanks.com reports that Ntegrator Holdings Limited and its
subsidiary, Ntegrator Pte Ltd, have been served with three
statutory demands by their former Financial Controller for
outstanding payments totaling over US$330,000. If the company fails
to settle the debts or reach a satisfactory agreement within three
weeks, insolvency proceedings could be initiated under the
Insolvency, Restructuring and Dissolution Act 2018.

Headquartered in Singapore, Ntegrator Holdings Ltd is a network
infrastructure integration and voice communication systems
specialist. The Company specializes in designing, installing, and
implementing data, video, fiber optic, wireless, and cellular
network and voice communications systems.


THREE ARROWS: Liquidators Seek US$1.3 Billion Over 2022 Luna Crash
------------------------------------------------------------------
Bloomberg News reports that liquidators for the failed
cryptocurrency hedge fund, Three Arrows Capital, are seeking at
least US$1.3 billion from TerraForm Labs, the bankrupt digital
assets business co-founded by Do Kwon, for losses the fund suffered
following the 2022 crash of his related TerraUSD and Luna tokens.

TerraForm induced Three Arrows to purchase Luna and TerraUSD by
manipulating the market for these tokens “in a manner that
artificially inflated the price for the assets" before they were
wiped out, the liquidators said in court papers, Bloomberg relays.
The crash not only wiped out Three Arrows' investment in those
tokens but caused substantial losses in its other holdings, they
said.

Three Arrows, once one of crypto's most famous hedge funds,
collapsed soon after Luna and TerraUSD crashed along with a handful
of other large crypto businesses. A British Virgin Islands court
subsequently appointed liquidators – partners at the consulting
and advisory firm Teneo – who have sought to recover a similar
amount from the hedge funds' founders, Su Zhu and Kyle Davies, and
other firms to repay Three Arrows' creditors, Bloomberg relates.

Meanwhile in April, a jury found TerraForm and Kwon liable for
fraud in a US government lawsuit over Luna's collapse.

According to Bloomberg, liquidators said Three Arrows acquired
US$190 million worth of Luna in January 2022 as part of a larger
US$1 billion deal that included other investment firms. A massive
sell-off of TerraUSD several months later caused the value of the
token and Luna to deteriorate.

Three Arrows' held about US$462 million worth of Luna at the end of
April 2022, but that value plummeted to a little more than US$2,700
by May 14, according to court documents. The net value for Three
Arrows' other digital holdings plummeted by roughly US$858 million
over the same period, Bloomberg discloses.

How much money will be recovered from TerraForm is unknown,
Bloomberg notes. TerraForm filed Chapter 11 in January and is
preparing to liquidate after it was found liable for fraud earlier
this year. Kwon was arrested last year in Montenegro and is facing
charges in the US and his native South Korea. A Montenegro court
ruled recently that Kwon should be extradited to South Korea.  

                    About Three Arrows Capital

Three Arrows Capital Ltd. was an investment firm engaged in
short-term opportunities trading, and is heavily invested in
cryptocurrency, funded through borrowings.  As of April 2022, the
Debtor was reported to have over $3 billion of assets under its
management.

Three Arrows Capital Ltd. was incorporated as a business company
under the laws of the British Virgin Islands.  Its sole shareholder
owning all of its "management shares" is Three Arrows Capital Pte.
Ltd., which previously operated as a regulated fund manager in
Singapore until 2021, when it shifted its domicile to the BVI, as
part of a global corporate plan to relocate operations to Dubai.  

The Debtor borrowed digital and fiat currency from multiple lenders
to fund its cryptocurrency investments.  After cryptocurrency lost
99% of its value, and then prices of other cryptocurrencies had
rapid declines, the Debtor reportedly defaulted on its
obligations.

On June 24, 2022, one of the Debtor's many creditors -- DRB Panama
Inc. -- filed an application to appoint joint provisional
liquidators -- and thereafter, full Liquidators -- in the Eastern
Caribbean Supreme Court in the High Court of Justice (Commercial
Division) located in BVI. The application was assigned claim number
VIHCOM2022/0117.

Subsequently, on June 27, 2022, the Debtor filed its own
application for the appointment of joint liquidators before the BVI
Commercial Court.

On June 29, 2022, the Honorable Mr. Justice Jack of the BVI
Commercial Court appointed Russell Crumpler and Christopher Farmer
of Teneo (BVI) Limited as joint liquidators of Three Arrows Capital
Ltd.



                           *********


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.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
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Information contained herein is obtained from sources believed
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