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

                     A S I A   P A C I F I C

          Friday, September 6, 2024, Vol. 27, No. 180

                           Headlines



A U S T R A L I A

LIAGANA PTY: First Creditors' Meeting Set for Sept. 12
LION TRUST 2022-1: S&P Affirms BB+ Rating on Class E Notes
OSTRAVA EQUITIES: Grimm Sentenced to Jail for Dishonest Conduct
SERCA SUPERMARKETS: First Creditors' Meeting Set for Sept. 16
SK ARCHITECTURE: First Creditors' Meeting Set for Sept. 13

VERVE REAL: First Creditors' Meeting Set for Sept. 12
WE ARE ARCADIA: First Creditors' Meeting Set for Sept. 12


C H I N A

CHINA EVERGRANDE: Creditor Files for Liquidation of NEV's Unit
CHINA VANKE: Debt Cracks Exposed After First Loss in 20 Years
COUNTRY GARDEN: Removes PwC as Auditor
COUNTRY GARDEN: Seeks Fresh Onshore Debt Overhaul as Sales Slump
ZW DATA: Sells 358,424 Common Shares to Fryhigh for US$268,818



I N D I A

AAACORP EXIM: CARE Keeps D Debt Ratings in Not Cooperating
AGRASIA IMPEX: ICRA Keeps D Debt Ratings in Not Cooperating
AITHANOLI CIBUS: ICRA Assigns B+ Rating to INR105cr Loans
ASHRITHA HEALTH: ICRA Keeps D Debt Rating in Not Cooperating
AVEENA MILK: CARE Keeps D Debt Rating in Not Cooperating Category

BISCON TILES: ICRA Keeps B+ Debt Ratings in Not Cooperating
C-NET INFOTECH: CARE Keeps D Debt Ratings in Not Cooperating
CHOTTA SHIMLA: ICRA Keeps D Debt Ratings in Not Cooperating
CONSOLIDATED CONSTRUCTION: CARE Keeps D Ratings in Not Cooperating
DECO EQUIPMENTS: ICRA Keeps D Debt Ratings in Not Cooperating

DHARAMCHAND PARASCHAND: ICRA Keeps D Ratings in Not Cooperating
G.K. SALES: CARE Keeps D Debt Rating in Not Cooperating Category
GALAXY CONCAB: CARE Keeps C Debt Rating in Not Cooperating
GENID SHIPPING: ICRA Keeps B+ Debt Ratings in Not Cooperating
GILLCO DEVELOPERS: ICRA Keeps D Debt Ratings in Not Cooperating

GREENLANDS (A&M): CARE Keeps D Debt Ratings in Not Cooperating
JAINAM COATEX: ICRA Keeps B Debt Ratings in Not Cooperating
JELENTA POLYTRADERS: Liquidation Process Case Summary
JOT IMPEX: ICRA Keeps D Debt Rating in Not Cooperating Category
KARNATAKA HANDLOOM: ICRA Keeps B+ Debt Rating in Not Cooperating

LAKSHMI SATYANARAYANA: ICRA Keeps D Ratings in Not Cooperating
LANCO SOLAR: ICRA Keeps D Debt Rating in Not Cooperating Category
LOHIYA DEVELOPERS: ICRA Keeps B Debt Ratings in Not Cooperating
MAHABUBNAGAR MUNICIPALITY: ICRA Keeps B+ Rating in Not Coop.
MATESHWARI FOOD: ICRA Keeps B Debt Ratings in Not Cooperating

MUKTA INDUSTRIES: ICRA Keeps D Debt Ratings in Not Cooperating
NASHIK FORGE: Liquidation Process Case Summary
RAJA COTTON: CARE Keeps D Debt Rating in Not Cooperating Category
S KUMARS: Liquidation Process Case Summary
S.S.T PACKAGING: CARE Keeps D Debt Rating in Not Cooperating

SANGAMNER TALUKA: ICRA Keeps B Debt Rating in Not Cooperating
SENTINI HEALTHCARE: ICRA Keeps B+ Debt Ratings in Not Cooperating
SIDHI VINAYAK: CARE Keeps D Debt Ratings in Not Cooperating
SODE VADIRAJA: ICRA Keeps D Debt Rating in Not Cooperating
TWO OCEANS: Voluntary Liquidation Process Case Summary

UGH VINTAGE: Liquidation Process Case Summary
USHA IMPEX: CARE Keeps D Debt Ratings in Not Cooperating Category


N E W   Z E A L A N D

A.J.S. RESIDENTIAL: Court to Hear Wind-Up Petition on Sept. 13
KESTER BLACK: Investors Upset Following Company Collapse
PINFOLD CONSTRUCTION: Court to Hear Wind-Up Petition on Sept. 10
SAMASONI CONSTRUCTIONS: Court to Hear Wind-Up Petition on Sept. 20
SPECTRUM PACIFIC: Creditors' Proofs of Debt Due on Sept. 13

WAITONUI MILLTRUST: Creditors' Proofs of Debt Due on Oct. 9


P H I L I P P I N E S

CONTI'S BAKESHOP: Dennis Uy Sells 2 Restaurants at Huge Discount


S I N G A P O R E

MAGNUS ENERGY: Creditors' Proofs of Debt Due on Oct. 4
NTEGRATOR: Ex-Management Seeks High Court Winding-Up Order
RASEUL TRADE: Court to Hear Wind-Up Petition on Sept. 20
SUPREME EXIMP: Court Enters Wind-Up Order
TML OFFSHORE: Creditors' Meetings Set for Sept. 24


                           - - - - -


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

LIAGANA PTY: First Creditors' Meeting Set for Sept. 12
------------------------------------------------------
A first meeting of the creditors in the proceedings of Liagana Pty
Ltd will be held on Sept. 12, 2024 at 10:00 a.m. at the offices of
Clifton Hall at Level 3, 431 King William Street in Adelaide.

Anna Agostino and Daniel Lopresti of Clifton Hall were appointed as
administrators of the company on Sept. 2, 2024.


LION TRUST 2022-1: S&P Affirms BB+ Rating on Class E Notes
----------------------------------------------------------
S&P Global Ratings raised its rating on the class E notes issued by
Perpetual Trustee Co. Ltd. as trustee for Conquest 2022-1 Trust. At
the same time, S&P affirmed its ratings on 155 classes of
Australian prime residential mortgage-backed securities (RMBS)
transactions, sponsored by eight Australian banks. Additionally, we
removed 93 of the ratings from under criteria observation (UCO;).

The rating actions follow S&P's review of these prime RMBS
transactions when applying its updated methodology and assumptions
for assessing pools of Australian residential loans.

The transactions have adequate credit support and cash flows at the
respective rating levels, after applying the updated criteria,
which include a revised method of assessing loan-to-value, the
application of changing house price values in determining default
frequency and loss severity, and an estimate of house price
overvaluation (OUV) of 22%. The OUV measure is intended to reflect
how much a market is above or below a longer-term measure of price
to income.

Some ratings are constrained below the level that cash flows alone
support due to other risk considerations such as sensitivities to
the outlook for yield, arrears, pool concentrations, and absolute
size of credit support.


  Rating Raised And Removed From UCO

  Conquest 2022-1 Trust

  Class E: to BBB- (sf) from BB+ (sf)


  Ratings Affirmed And Removed From UCO

  Conquest 2016-2 Trust

  Class B1: AA+ (sf)
  Class B2: A+ (sf)

  Conquest 2017-1 Trust

  Class B1: AAA (sf)
  Class B2: AA- (sf)

  Conquest 2018-1 Trust

  Class B: AA+ (sf)
  Class C: A+ (sf)

  Conquest 2019-2 Trust

  Class B: AA (sf)
  Class C: A+ (sf)
  Class D: A- (sf)
  Class E: BBB- (sf)

  Conquest 2022-1 Trust

  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)

  Conquest 2023-2 Trust

  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)
  Class E: BB (sf)

  IDOL 2024-1 Trust

  Class A: AAA (sf)

  Illawarra Series 2017-1 RMBS Trust

  Class C: AA (sf)

  Illawarra Series 2024-1 RMBS Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)
  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)
  Class E: BB (sf)

  Lion Series 2020-1 Trust

  Class B: AAA (sf)
  Class C: AA (sf)
  Class D: A (sf)
  Class E: BBB- (sf)

  Lion Series 2022-1 Trust

  Class B: AA+ (sf)
  Class C: AA- (sf)
  Class D: A (sf)
  Class E: BB+ (sf)

  Lion Series 2023-1 Trust

  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)
  Class E: BB (sf)

  Lion Series 2024-1 Trust

  Class A1A: AAA (sf)
  Class A1B: AAA (sf)
  Class A2: AAA (sf)
  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)
  Class E: BB (sf)

  Pinnacle Series Trust 2017-T1

  Class AB: AAA (sf)
  Class B: AA+ (sf)
  Class C: AA- (sf)

  Pinnacle Series Trust 2021-T1

  Class A2: AAA (sf)
  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)
  Class E: BB (sf)

  Progress 2016-1 Trust

  Class C: A+ (sf)

  Progress 2017-1 Trust

  Class B: AA+ (sf)
  Class C: A+ (sf)

  Progress 2017-2 Trust

  Class B: AA+ (sf)
  Class C: A (sf)

  Progress 2018-1 Trust

  Class B: AA+ (sf)
  Class C: A (sf)

  Progress 2019-1 Trust

  Class B: AAA (sf)
  Class C: A (sf)

  Progress 2020-1 Trust

  Class B: AAA (sf)
  Class C: AA (sf)
  Class D: A (sf)
  Class E: BB+ (sf)

  Progress 2021-1 Trust

  Class B: AAA (sf)
  Class C: AA+ (sf)
  Class D: A+ (sf)
  Class E: BBB (sf)

  Progress 2022-1 Trust

  Class C: AA- (sf)
  Class D: BBB+ (sf)
  Class E: BB (sf)

  Progress 2022-2 Trust

  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)
  Class E: BB (sf)

  Progress 2023-1 Trust

  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)
  Class E: BB (sf)

  Progress 2023-2 Trust

  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)
  Class E: BB (sf)

  Progress 2024-1 Trust

  Class A: AAA (sf)
  Class AB:AAA (sf)
  Class B: AA (sf)
  Class C: A (sf)
  Class D: BBB (sf)
  Class E: BB (sf)

  PUMA Series 2023-1

  Class A: AAA (sf)


  PUMA Series 2024-1

  Class A: AAA (sf)

  Ratings Affirmed

  Conquest 2016-2 Trust

  Class A1: AAA (sf)
  Class A2: AAA (sf)
  Class AB: AAA (sf)

  Conquest 2017-1 Trust

  Class A1: AAA (sf)
  Class A2: AAA (sf)
  Class AB: AAA (sf)

  Conquest 2018-1 Trust

  Class A1: AAA (sf)
  Class A2: AAA (sf)
  Class AB: AAA (sf)

  Conquest 2019-2 Trust

  Class A1: AAA (sf)
  Class A2: AAA (sf)
  Class AB: AAA (sf)

  Conquest 2022-1 Trust

  Class A1: AAA (sf)
  Class A2: AAA (sf)

  Conquest 2023-2 Trust

  Class A1: AAA (sf)
  Class AB: AAA (sf)

  IDOL 2019-1 Trust

  Class A: AAA (sf)

  IDOL 2023-1 Trust

  Class A: AAA (sf)

  Illawarra Series 2017-1 RMBS Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)
  Class B: AAA (sf)

  Lion Series 2020-1 Trust

  Class A1: AAA (sf)
  Class A2: AAA (sf)

  Lion Series 2022-1 Trust

  Class A1: AAA (sf)
  Class A2: AAA (sf)

  Lion Series 2023-1 Trust

  Class A1: AAA (sf)
  Class A2: AAA (sf)

  Pinnacle Series Trust 2017-T1

  Class A1: AAA (sf)
  Class A2: AAA (sf)

  Pinnacle Series Trust 2021-T1

  Class A1: AAA (sf)

  Progress 2016-1 Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)
  Class B: AAA (sf)

  Progress 2017-1 Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)

  Progress 2017-2 Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)

  Progress 2018-1 Trust

  Class A-R: AAA (sf)
  Class AB: AAA (sf)

  Progress 2019-1 Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)

  Progress 2020-1 Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)

  Progress 2021-1 Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)

  Progress 2022-1 Trust

  Class A1-L: AAA (sf)
  Class AB: AAA (sf)
  Class B: AAA (sf)

  Progress 2022-2 Trust

  Class A1-L: AAA (sf)
  Class AB: AAA (sf)

  Progress 2023-1 Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)

  Progress 2023-2 Trust

  Class A: AAA (sf)
  Class AB: AAA (sf)

  PUMA Series 2015-3

  Class A-R: AAA (sf)
  Class B1-R: AAA (sf)

  PUMA Series 2017-1

  Class A-R: AAA (sf)
  Class B1-R: AAA (sf)

  PUMA Series 2021-1P

  Class A: AAA (sf)

  PUMA Series 2021-2

  Class A: AAA (sf)

  PUMA Series 2022-1

  Class A: AAA (sf)

  Securitised Australian Mortgage Trust 2017-1

  Class A: AAA (sf)
  Class AB: AAA (sf)


OSTRAVA EQUITIES: Grimm Sentenced to Jail for Dishonest Conduct
---------------------------------------------------------------
Former Melbourne financial planner Bradley Grimm has been convicted
by the County Court of Victoria of three counts of engaging in
dishonest conduct while running a financial services business.

Mr. Grimm was sentenced to 18 months' imprisonment, with nine
months to serve, and to be of good behaviour for a period of 18
months upon release pursuant to a recognisance in the amount of
AUD5,000.

Mr. Grimm engaged in dishonest conduct on five occasions between
February 18, 2015 and March 12, 2015, when he transferred funds
between two of his clients' self-managed superannuation funds
(SMSFs) to three separate companies of which he was the sole
director.

Mr. Grimm has admitted each of the companies: Thrive Lending Pty
Ltd, Trade BTC Pty Ltd, and Beta Pharmacology Pty Ltd, had little
market value.

On a further seven occasions between November 5, 2015 and  November
11, 2015, Mr. Grimm dishonestly transferred shares and convertible
notes owned by his clients' SMSF to Equity Capital Partners Hedge
Fund Pty Ltd, without adequately advising his client that it was a
company of which he was the sole director, and in which he had a
personal interest.

Mr. Grimm also failed to advise his client that ASIC had sought the
winding up of entities related to him, including Ostrava Equities
Pty Ltd, and that he was banned from providing financial services
by order of the Federal Court.

In sentencing Justice O'Connell remarked that Mr. Grimm was "well
aware of his obligations" and that he "abused the position of trust
that a licensed financial adviser holds". His Honour found that Mr
Grimm's "moral culpability was high".

In imposing the sentence, Justice O'Connell took into account Mr.
Grimm's guilty plea.

Mr. Grimm and his company Ostrava Equities Pty Ltd were authorised
representatives of former Australian financial services licensee
Marigold Falconer International Limited.

Mr. Grimm first appeared before the court on November 29, 2018 and
entered a plea of guilty on January 20, 2023.

Mr. Grimm's charges followed ASIC's successful action in the
Federal Court for the winding up of Ostrava Equities Pty Ltd,
Ostrava Asset Management Pty Ltd, Ostrava Securities Pty Ltd,
Ostrava Wealth Management Pty Ltd, Beta Pharmacology Pty Ltd,
Prometheus Capital Pty Ltd, Thrive Lending Pty Ltd, Trade BTC Pty
Ltd and Equity Capital Partners Hedge Fund Pty Ltd.


SERCA SUPERMARKETS: First Creditors' Meeting Set for Sept. 16
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of Serca
Supermarkets Pty Ltd will be held on Sept. 16, 2024 at 10:30 a.m.
at Level 5 34 East in Street Rockhampton.

Michael Beck of Worrells was appointed as administrator of the
company on Sept. 4, 2024.


SK ARCHITECTURE: First Creditors' Meeting Set for Sept. 13
----------------------------------------------------------
A first meeting of the creditors in the proceedings of SK
Architecture Pty Ltd will be held on Sept. 13, 2024 at 11:30 a.m.
virtually via Microsoft Teams.

Dane Skinner of Raft Consulting was appointed as administrator of
the company on Sept. 3, 2024.


VERVE REAL: First Creditors' Meeting Set for Sept. 12
-----------------------------------------------------
A first meeting of the creditors in the proceedings of Verve Real
Estate Pty Ltd will be held on Sept. 12, 2024 at 10:00 a.m. via
videoconference only.

Roberto Crispino and Richard Albarran of Hall Chadwick were
appointed as administrators of the company on Sept. 2, 2024.


WE ARE ARCADIA: First Creditors' Meeting Set for Sept. 12
---------------------------------------------------------
A first meeting of the creditors in the proceedings of We Are
Arcadia Pty Ltd will be held on Sept. 12, 2024 at 11:00 a.m. via
electronic meeting.

Thyge Howard Trafford Jones of TTJ Advisory was appointed as
administrator of the company on Sept. 2, 2024.




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

CHINA EVERGRANDE: Creditor Files for Liquidation of NEV's Unit
--------------------------------------------------------------
Reuters reports that a creditor filed a petition for the bankruptcy
of a unit of China Evergrande New Energy Vehicle Group, a
subsidiary of China Evergrande Group, in a Shanghai court, the
third such petition against the embattled car company.

A new bankruptcy proceeding could add pressure on the liquidators
of China Evergrande Group, the world's most indebted property
developer, to recover debt for creditors and a potential investor
in the electric vehicle company, Reuters says.

Zhejiang Chint Electrics filed a bankruptcy and liquidation
petition against manufacturing unit Evergrande Hengchi New Energy
Vehicle (Shanghai) Co in relation to an overdue and unpaid debt,
according to a filing dated Sept. 4 by the No.3 Intermediate
People's Court of Shanghai, Reuters relays.

According to Reuters, the court said it will hold a hearing on
Sept. 18 to decide to accept the petition or not to start a
bankruptcy proceeding.

Last month, a Guangzhou court ordered two other units - Evergrande
New Energy Vehicle (Guangdong) and Evergrande Smart Automotive
(Guangdong) - to enter into bankruptcy and reorganisation
proceedings, a move that the EV parent warned would have "a
material impact" on its production and operating activities,
Reuters recalls.

Evergrande NEV last week announced a net loss of CNY20.3 billion
(US$2.9 billion) in the first half, widening from a CNY6.9 billion
net loss a year ago, Reuters discloses.

Its total liabilities rose 2.5% from end-December to CNY74.4
billion, while total assets decreased 53% to CNY16.4 billion and
total cash plunged 69% to CNY39 million.

Reuters adds that the company's auditor said the material
uncertainties from the financial results may have significant
impact on the group's ability to continue as a going concern.

                       About China Evergrande

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

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

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

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

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

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

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

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

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

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


CHINA VANKE: Debt Cracks Exposed After First Loss in 20 Years
-------------------------------------------------------------
Bloomberg News reports that China Vanke Co. faces mounting concerns
about its ability to repay debt after posting the first loss in two
decades.

Vanke had a short-term refinancing gap of about CNY12 billion
(US$1.69 billion) at the end of June due to a spike in long-term
debt within a year, according to Bloomberg calculations based on
company data. That's the first time Vanke's cash balance has failed
to cover interest-bearing debt maturing in less than a year since
at least 2014.

As a bellwether for China's real estate crisis, Vanke's debt
troubles underscore how even the highest quality developers have
been ensnared by the unprecedented property downturn, Bloomberg
notes. While it's managed to avoid a default so far, Vanke's
connections with the nation's financial and government-backed
entities means its distress could eclipse the turmoil wreaked by
defaults at rivals China Evergrande Group and Country Garden
Holdings Co.

Vanke's Hong Kong-traded shares closed 5.8% lower on Sept. 2 in its
biggest decline in about six weeks, while its Shenzhen-traded
shares plunged the most in more than three months. Its 3.15% 2025
due dollar notes were indicated 1.7 cents lower at 83.3 cents as of
16:40, according to Bloomberg-compiled data.

According to Bloomberg, China's housing rescue package in May is
losing steam as home sales slump deepened in August and prices are
expected to plummet further. Concerns intensified in recent weeks
after a string of disappointing earnings reports from consumer
companies and a cut to China's growth forecast by UBS Group AG. The
downgrade reflects an emerging consensus that the country may miss
its growth target of around 5% in 2024.

Vanke, whose major shareholder is a state-owned firm in Shenzhen,
is one of the few distressed developers that have yet to default
amid the downturn. Country Garden and Shimao Group Holdings Ltd.
face winding-up hearings in Hong Kong courts, while former giant
Evergrande has been ordered to liquidate.

Bloomberg says Vanke's earnings report on Aug. 30 showed how much
the extended housing slump is taking its toll on China's
fourth-biggest developer by sales. The company posted a net loss of
CNY9.85 billion for the six months ended June 30, its first
semi-annual loss since at least 2003, Bloomberg discloses. That's
higher than the upper range flagged by the firm in July, and
compares with an annual profit of CNY12.2 billion last year.

Vanke's loss signals its finances took a sharp hit in the second
quarter, considering it lost just 362 million yuan in the first
three months, Bloomberg relates. The slowdown in China's market has
deepened since then, as sales and prices continue to fall. Local
governments are dialing back intervention over pricing of new
residential projects, driving developers to offer deep discounts to
lure buyers.

Bond investors are betting Vanke isn't at immediate risk of
default, though its longer-term outlook is less certain, Bloomberg
says. Moody's Ratings, which had Vanke at investment grade as
recently as March, downgraded the developer to B1 last month, four
notches into junk territory.

Vanke faces a CNY14 billion funding gap if leases payable are
included, according to Bloomberg Intelligence analysts Daniel Fan
and Hui Yen Tay. That hole could be plugged by access to financing,
they said, adding that the company can dispose more assets and
raise secured debt.

For the remainder of this year, Vanke has only CNY2 billion worth
of public debt that matures, Chief Executive Officer Zhu Jiusheng
said Aug. 30. The firm has notified some investors that it has
enough cash to repay a yuan bond due Sept. 6, according to a
Bloomberg report last week. Vanke doesn't have dollar bonds due
this year and has a combined CNY128.5 billion of public bonds and
loans outstanding, according to data compiled by Bloomberg.

                         About China Vanke

China Vanke Co., Ltd. operates real estate development businesses.
The Company provides housing renovation, housing loans, real estate
brokerage, and other businesses. China Vanke also operates
logistics, material supply, and other businesses.

As reported in the Troubled Company Reporter-Asia Pacific in
mid-August, Moody's Ratings has downgraded the following ratings of
China Vanke Co., Ltd. and its wholly-owned subsidiary, Vanke Real
Estate (Hong Kong) Company Limited.

1. China Vanke's corporate family rating (CFR) to B1 from Ba3;

2. Backed senior unsecured rating on the medium-term note (MTN)
   program of Vanke Real Estate to (P)B2 from (P)B1; and

3. Backed senior unsecured rating on the bonds issued by Vanke
   Real Estate to B2 from B1.

The MTN program and senior unsecured bonds are supported by a deed
of equity interest purchase undertaking and a keepwell deed between
China Vanke, Vanke Real Estate and the bond trustee.

Moody's have also maintained the negative outlooks of the entities.


The TCR-AP reported in mid-June 2024, that S&P Global Ratings
affirmed its 'BB+' long-term issuer credit rating on China Vanke
Co. Ltd. and its 'BB' long-term issuer credit rating on subsidiary
Vanke Real Estate (Hong Kong) Co. Ltd. (Vanke HK). At the same
time, S&P affirmed its 'BB' long-term issue ratings on Vanke HK's
senior unsecured notes.

The negative outlook on China Vanke reflects S&P's expectation that
the company's contracted sales could decline further over the next
12 months and its financial position could weaken if it fails to
execute asset disposals amid China's prolonged property downturn.

The TCR-AP also reported in late May 2024, Fitch Ratings has
downgraded China Vanke Co., Ltd.'s Long-Term Foreign- and
Local-Currency Issuer Default Ratings (IDR) to 'BB-', from 'BB+'.
The Outlook is Negative. Fitch also downgraded the Long-Term IDR on
China Vanke's wholly owned subsidiary, Vanke Real Estate (Hong
Kong) Company Ltd (Vanke HK), to 'B+', from 'BB', and downgraded
Vanke HK's senior unsecured rating and the rating on the
outstanding senior notes to 'B+' with a Recovery Rating of RR4,
from 'BB'. The ratings have been removed from Rating Watch
Negative.


COUNTRY GARDEN: Removes PwC as Auditor
--------------------------------------
Reuters reports that Country Garden Holdings said on Sept. 5 that
PwC has agreed to resign as its auditor, as the property developer
became the latest Chinese company to sever ties with the firm.

Reuters relates that Country Garden said in an exchange filing that
it had appointed Hong Kong-based Zhonghui Anda CPA as its new
auditor, at least until the conclusion of its next annual general
meeting.

PwC has been in focus over its role in auditing China Evergrande
Group which was accused of a $78 billion fraud, triggering a client
exodus, cost cuts and layoffs.

PwC told Reuters that it was not in a position to comment on client
related matters when asked about Country Garden.

More than 50 Chinese firms, including PwC's largest mainland client
Bank of China and many state-owned enterprises or financial
institutions, have either dropped PwC as their auditor or cancelled
their plans to hire it, Reuters relates.

According to Reuters, Country Garden said the change of auditor was
because PwC was unable to fulfil the timetable to publish its
audited 2023 financial statements "considering recent relevant
matters related to the company's auditor and market information".

Once a top developer by sales, Country Garden is undergoing an
offshore debt restructuring after defaulting on its $11 billion
offshore bonds last year, Reuters notes. Its shares have been
suspended from trading since April 2 pending the release of its
2023 full year and 2024 interim financial results.

"The group is actively pushing forward the holistic restructuring
and working towards the resumption of trading in the shares . . .,
and it is particularly important and critical to complete the audit
of the consolidated financial statements . . . as soon as
practicable," it added.

                   About Country Garden Holdings

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

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

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

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


COUNTRY GARDEN: Seeks Fresh Onshore Debt Overhaul as Sales Slump
----------------------------------------------------------------
Bloomberg News reports that Country Garden Holdings Co. is
considering a fresh holistic restructuring plan for yuan bonds
after the Chinese developer struggled to raise cash for delayed
debt repayments.

"The company seeks to negotiate a new debt management plan with
bondholders to better align with the latest situation in the
property market and corporate funding," Country Garden told
Bloomberg News on Sept. 5. The firm has yet to secure enough cash
to repay its onshore bond principal and interest and needs to seek
debt extensions, it added.

Bloomberg relates that the distressed real estate company pointed
to waning homebuyer demand and a deteriorating market outlook,
which led to a 78% plunge in its contracted sales in the first
eight months. Fund allocation restrictions also made it unable to
collect enough money for payments due, the company added.

Country Garden, once China's biggest developer by sales, has seen a
sharper slowdown than its peers due to its focus on projects in
smaller cities. It defaulted on dollar notes in October and has
been pushing back onshore bond payment dates, Bloomberg notes.

As the impact of China's latest housing rescue package wanes,
new-home sales in so-called tier-3 cities have shrunk faster,
Bloomberg relates citing a note by researcher China Index Holdings.
Country Garden's year-to-date sales decline is more than double the
36.5% slide at the 100 biggest real estate companies tracked by
China Real Estate Information Corp.

Country Garden's main onshore unit proposes to push back payments
due on nine yuan bonds by six months, according to people familiar
with the matter, Bloomberg relays. The bonds include some with
payments due this month and at least one with a November deadline.

They include a third extension for payments of three notes that
were first delayed in September last year. These are a 4.8% note, a
6.3% note and another 4.8% bond. Bloomberg reported the latest
extension talks last week.

Bondholders will vote on the plan to delay payment on six of the
bonds between Sept. 9 and Sept. 13, according to filings on the
Shanghai Stock Exchange private bond disclosure platform seen by
Bloomberg.

Bloomberg says the potential payment delays would be a fresh
setback for onshore bondholders, who are waiting to recoup part of
their losses. It also underscores the liquidity stress that some of
China's biggest builders still face as the nation's property crisis
drags into its fourth year.

Offshore, Country Garden got a six-month respite for separate
restructuring talks in July when liquidation hearing in Hong Kong
was adjourned until late January, Bloomberg notes. The company said
at the time that it expected key creditor groups to agree on a debt
term sheet by the end of September.

                   About Country Garden Holdings

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

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

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

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


ZW DATA: Sells 358,424 Common Shares to Fryhigh for US$268,818
--------------------------------------------------------------
ZW Data Action Technologies Inc. disclosed in a Form 8-K Report
filed with the U.S. Securities and Exchange Commission that on
August 23, 2024, the Company entered into a Securities Purchase
Agreement with Fryhigh Fintech Holdings Limited, pursuant to which
Fryhigh agreed to purchase 358,424 shares of common stock of the
Company, par value $0.001 per share for an aggregate purchase price
of US$268,818.

The closing shall take place on the date mutually agreed by the
parties, subject to the closing conditions contained in the
Agreement. On the date that the Agreement was signed, the Purchaser
also entered into a lock-up agreement with the Company, whereby the
Purchaser agreed not to transfer the Shares until six-month
anniversary of the date of the Agreement.

                 About ZW Data Action Technologies

Beijing, China-based ZW Data Action Technologies Inc., established
in 2003, is an ecological enterprise that provides digital services
to sales and marketing channels through blockchain, big data, and
precision marketing. ZW Data Action is committed to empowering SMEs
to achieve more efficient and accurate operations and management,
resulting in additional value for clients.

Hong Kong, China-based ARK Pro CPA & Co, the Company's auditor
since 2023, issued a 'going concern' qualification in its report
dated June 28, 2024, citing that the Company has accumulated a
deficit from recurring net losses and significant net operating
cash outflow for the year ended December 31, 2023. All these
factors raise substantial doubt about its ability to continue as a
going concern.

For the years ended December 31, 2023 and 2022, ZW Data incurred a
loss from operations of US$6.01 million and US$11.12 million,
respectively. As of March 31, 2024, ZW Data had $11,404,000 in
total assets, $5,988,000 in total liabilities, and $5,416,000 in
total stockholders' equity.



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

AAACORP EXIM: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of AAACorp
Exim India Private Limited (AEIPL) continue to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       3.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank     19.40       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 24, 2023,
placed the rating(s) of AEIPL under the 'issuer non-cooperating'
category as AEIPL had failed to provide information for monitoring
of the rating agreed to in its Rating Agreement. AEIPL continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
June 8, 2024, June 18, 2024 and June 28, 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).

AAACorp Exim India Pvt Ltd (formerly known as Aishwarya Plast
Exports Private Limited) is a private limited company incorporated
with the main objective of undertaking manufacturing activity of
plastic bags, refuse bags, bags on rolls and reprocessed granules
(using primary waste & secondary waste) at Vadodara, Gujarat and
Kalamgaon, Thane.


AGRASIA IMPEX: ICRA Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
ICRA has kept the Long-Term ratings of Agrasia Impex (AI) in the
'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]D ISSUER NOT COOPERATING".

                     Amount
   Facilities     (INR crore)   Ratings
   ----------     -----------   -------
   Long-term-         5.00      [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                   Rating Continues to remain under
   Cash Credit                  'Issuer Not Cooperating'
                                Category

   Long-term-         1.00      [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                   Rating Continues to remain under
   Term Loan                    'Issuer Not Cooperating'
                                Category

   Long Term-         1.00      [ICRA]D; ISSUER NOT COOPERATING;
   Unallocated                  Rating Continues to remain under
                                'Issuer Not Cooperating'
                                Category

As part of its process and in accordance with its rating agreement
with AI, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained noncooperative.

In the absence of requisite information and in line with the
aforesaid policy of ICRA, the rating has been continued to the
"Issuer Not Cooperating" category. The rating is based on the best
available information.

Founded in 2007, as a proprietorship concern Agrasia Impex (AI) is
engaged in the trading of chilly and turmeric. Firm was earlier
involved in trading of chili powder, based on the orders received
from customers. However, since past 4 years the firm has
discontinued the sale of chili powder. AI is managed by Mr.
Nallamothu Sri Ramanjaneyulu who has more than a decade long
experience in trading of chilly and turmeric.


AITHANOLI CIBUS: ICRA Assigns B+ Rating to INR105cr Loans
---------------------------------------------------------
ICRA has assigned rating to the bank facilities of Aithanoli Cibus
Products Private Limited (ACPPL), as:

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long term–        101.21      [ICRA]B+ (Stable); assigned
   Fund-based-
   Proposed
   term loan          

   Long term-
   Unallocated         3.79      [ICRA]B+ (Stable); assigned

Rationale

The assigned rating for ACPPL favorably factors in the healthy
demand for ethanol in the country and the presence of an offtake
contract with public sector oil marketing companies (OMCs), aiding
revenue visibility for the company over the medium term. The
contract with Bharat Petroleum Corporation Limited (BPCL), Indian
Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation
Limited (HPCL) ensures an annual offtake quantity of 0.99 crore
litres of ethanol (i.e. 30% of installed capacity) for a period of
10 years. The balance quantity is expected to be supplied to the
OMCs on an open tender basis. The project also enjoys the
locational advantage of being close to ample raw material sources,
along with its ability to reach out to various oil blending depots
in the nearby areas.

However, the rating remains constrained by significant
project-related risks, including any delay in achieving financial
closure because of the sizeable dependence on borrowings. The
project may also be affected by delays in commissioning the project
within the budgeted cost and time, stabilising the plant and
achieving the desired process parameters and cost efficiencies.
Further, it is yet to receive some approvals from government
authorities, which may pose a hurdle to the timely commencement of
operations.
ACPPL will also remain exposed to regulatory risks associated with
the ethanol business, given that its price is fixed annually by the
OMCs even as the prices of raw material and fuel change in line
with the market demand and supply position. The company's
profitability remains vulnerable to fluctuations in the prices of
broken rice and maize, which have been quite volatile in the recent
past and, thus, will remain a key monitorable for its healthy
operations, post commissioning.

The Stable outlook on the [ICRA]B+ rating reflects ICRA's
expectation of stable revenues for the company and a healthy demand
outlook for ethanol in the long term along with the management's
ability to ensure adequate raw material availability because of its
advantageous location.

Key rating drivers and their description

Credit strengths

* Offtake agreement with OMCs with minimum guaranteed volume
provides stability to revenues: The company has entered into a
long-term offtake agreement with OMCs for a period of 10 years for
the supply of 0.99 crore litres of ethanol (30% of installed
capacity) produced by it, annually. The balance quantity is
expected to be procured by the OMCs through open tenders floated
quarterly. Thus, the offtake agreement for 30% of the installed
capacity provides revenue visibility after the commencement of
operations.

* Healthy demand potential for ethanol, Government incentives to
support demand: The long-term demand outlook for ethanol and
biofuel remains favourable on the back of a significant
demand-supply gap along with the Government's increasing focus on
reducing crude oil import dependence. Further, the demand for
ethanol is likely to continue, given the Central Government's aim
to achieve 20 per cent ethanol blending target by 2025. The
Government of India (GoI) has been supporting the industry through
various measures, such as interest-subvention loans for ethanol
capacity creation and expansion and remunerative prices, resulting
in an improved domestic demand-supply balance. Favourable pricing,
coupled with a relatively short credit period for ethanol supplies,
has supported the profits and cash accruals of various
distilleries.

Credit challenges

* Inherent project risks exist; company yet to receive some
requisite approvals: The capital outlay of the project is estimated
at INR144.59 crore, which would be largely funded by a term loan of
INR101.21 crore (~70% of the total project cost) and the balance
through promoter contribution. As of Mid-July 2024, around INR17.23
crore (12% of the total project cost) has been incurred to acquire
the land, start the civil work and provide advances to the
suppliers of plant and machinery, funded by promoters. The company
is yet to achieve financial closure along with some requisite
government approvals. The project plan envisages commencement of
the commercial operations from April 2025. Thus, the commissioning
of the project within the scheduled timeframe and budgeted cost
along with the stabilisation of operations remains important.

* Significant dependence on debt; financial closure for project yet
to be achieved: The project will be funded by a term loan of
INR101.21 crore, keeping the dependence on borrowings very high.
ICRA notes that as on date, the financial closure for the project
is yet to be achieved. The company's ability to achieve healthy
capacity utilisation and generate steady cash accruals will be
important for a timely debt servicing.

* Susceptibility of profitability to volatility in raw material
costs: The primary raw materials used by ACPPL are broken rice and
maize, which are agro-commodities. The prices of broken rice and
maize are prone to significant fluctuations and have been quite
volatile in the recent past, as their availability depends on the
monsoon. Nevertheless, majority of the raw materials will be
supplied by promoter entities, thereby reducing the impact of price
fluctuations to a considerable extent.

* Risks of operating in a regulated industry: ACPPL's operations
are vulnerable to the Government's policies and schemes, such as
interest subvention, ethanol pricing and offtake, raw material
availability and pricing, etc. Hence, the cessation of any scheme
or any material decrease in ethanol pricing would have an adverse
impact on the company's financials. Nonetheless, the Central
Government's preponement of the ethanol blending target to 2025 has
created a strong demand for ethanol and, thus, supports the
financial performance of the distillery units for manufacturing
ethanol.

Liquidity position: Stretched

The liquidity profile of the company is likely to remain stretched
as a large part of the project cost will be funded through debt,
resulting in significant cash outflow on account of the debt
repayment obligations after the commissioning of the plant.
Further, any delay in achieving financial closure might slow down
the project's commissioning, adversely impacting the business risk
profile of the firm.

Rating sensitivities

Positive factors – A timely commencement of operation within the
budgeted cost and stabilisation of the operations could lead to an
upgrade.

Negative factors – Pressure on the rating could arise on account
of delay in the commencement of operations or cost overruns or
stabilisation of the unit's operation.

Aithanoli Cibus Private Limited is a private limited company,
incorporated on December 23, 2021, for manufacturing and selling
ethanol and related by-products. The company is setting up a
100-kilolitre-per-day (KLPD) grain-based ethanol distillery, mainly
using broken rice and maize as the basic raw materials, in the
Kumuram Bheem Asifabad district of Telangana. The proposed facility
is expected to commence operations from April 2025.


ASHRITHA HEALTH: ICRA Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------
ICRA has kept the long-term ratings of Ashritha Health Care Pvt Ltd
(AHPL) in the 'Issuer Not Cooperating' category. The rating is
denoted as "[ICRA]D; ISSUER NOT COOPERATING".

                    Amount
   Facilities     (INR crore)   Ratings
   ----------     -----------   -------
   Long-term-         9.65      [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                   Rating Continues to remain under
   Term Loan                    'Issuer Not Cooperating'
                                Category

As part of its process and in accordance with its rating agreement
with AHPL, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

Incorporated in 2012, AHPL is promoted by its Dr. Bhargavi Reddy
(MBBS, MD) and Dr. Shekhar Reddy (BDS). The promoters also run a
25-bedded hospital on a rented premise in Thippasandra, Bangaluru
names "Dr Bhargavi Reddy Women and Childcare Hospital". The
hospital provides treatment in various department viz. gynecology,
pediatrics, general physician among others.


AVEENA MILK: CARE Keeps D Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Aveena
Milk Products (AMP) continue to remain in the 'Issuer Not
Cooperating' category.

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

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated July 31, 2023,
placed the rating(s) of AMP under the 'issuer non-cooperating'
category as AMP had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. AMP continues to
be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
June 15, 2024, June 25, 2024 and July 5, 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).

Delhi based, Aveena Milk Products (AMP) is a partnership firm
established in January, 2014 and commenced its operations in April,
2017. The current partners are Mr. Avdesh Mittal and Hrishikesh
Farms Private Limited sharing profit and losses in the ratio 99:1.
AMP was established with an aim to operate a milk dairy plant. The
dairy unit is located in Bhagwanpur, Uttarakhand.


BISCON TILES: ICRA Keeps B+ Debt Ratings in Not Cooperating
-----------------------------------------------------------
ICRA has kept the Long-Term rating of Biscon Tiles LLP (GCL) in the
'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]B+(Stable) ISSUER NOT COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long Term-          2.50       [ICRA]B+ (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Cash Credit                    to remain under 'Issuer Not
                                  Cooperating' category

   Long Term-          4.87       [ICRA]B+ (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Term Loan                      to remain under 'Issuer Not
                                  Cooperating' category

As part of its process and in accordance with its rating agreement
with GCL, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

Established in February 2018, Biscon Tiles LLP (GCL) manufactures
glazed wall tiles at Bela, Morbi (Gujarat). The manufacturing unit
of BTL has an annual installed production capacity of 36,000 MT
i.e. ~15,000 Boxes/ per day. The firm commenced its commercial
operations from February 2019, with manufacturing of glazed wall
tiles in size of 300mm x 250mm and 300m x 300mm having thickness
within range of ~1mm-5mm. Mr. Jagdish Dadhaniya, Mr. Prakash Patel
and Mr. Bharat Ghodasara are key promoters in the Biscon Tiles LLP.
The promoters of BTL hold a reasonable experience in the ceramic
industry by virtue of their association with associate concern
which is involved in manufacturing of nano vitrified floor tiles,
ceramic body materials and trading of ceramic raw material.


C-NET INFOTECH: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of C-Net
Infotech Private Limited (CIPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       4.45       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

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

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated June 14, 2023,
placed the rating(s) of CIPL under the 'issuer non-cooperating'
category as CIPL had failed to provide information for monitoring
of the rating. CIPL continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated April 29, 2024, May 9, 2024,
May 19, 2024.

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

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

Bhopal (Madhya Pradesh) based C-Net Infotech Private Limited (CIPL)
was incorporated in 1998 by Mr. Pravir Krishak and Mrs. Leena
Krishak to provide IT enabled services like web-based enterprise
applications, mobile solutions, MIS solutions,
conventional analytics and business intelligence solutions.


CHOTTA SHIMLA: ICRA Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
ICRA has kept the Long-Term rating of Chotta Shimla Projects Pvt.
Ltd. (CSPPL) in the 'Issuer Not Cooperating' category. The ratings
are denoted as "[ICRA]D; ISSUER NOT COOPERATING".

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long-term          2.14       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Cash Credit                   'Issuer Not Cooperating'
                                 Category

   Long-term          0.75       [ICRA]D; ISSUER NOT COOPERATING;
   Non Fund based                Rating Continues to remain under
   Others                        'Issuer Not Cooperating'
                                 Category

   Long-term         15.00       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Term Loan                     'Issuer Not Cooperating'
                                 Category

As part of its process and in accordance with its rating agreement
with CSPPL, ICRA has been trying to seek information from the
entity so as to monitor its performance. Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.

Incorporated in 2010, CSPPL is a special purpose vehicle (SPV)
promoted by Mr. Parmod Sood, and Mr. Kawaljeet Singh Duggal formed
for implementing a multilevel vehicle parking cum commercial
development project in the Chotta Shimla, Secretariat area of
Shimla (Himachal Pradesh) on design, building, operation and
transfer (DBOT) basis. The project involves construction of an
8-storey building, in which the bottom three floors will be
designed for the commercial property, whereas the top five floors
will be used as parking facility, canteens and other services. The
project involved a total cost of INR20.04 crore, which was funded
by INR15 crore from term loan and the remaining INR5.04 crore from
promoters. The project has a concession period of 30 years,
including the construction period.


CONSOLIDATED CONSTRUCTION: CARE Keeps D Ratings in Not Cooperating
------------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of
Consolidated Construction Consortium Limited (CCCL) continue to
remain in the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      597.89      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank     602.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated June 5, 2023,
placed the rating(s) of CCCL under the 'issuer non-cooperating'
category as CCCL had failed to provide information for monitoring
of the rating. CCCL 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).

CCCL was incorporated in 1997 by first-generation entrepreneurs Mr
R Sarabeswar, Mr S Sivaramakrishnan and Mr V G Janarthanam. CCCL is
primarily engaged in construction activities in commercial,
infrastructure, industrial and residential domain. CCCL has other
subsidiaries, namely, Consolidated Interiors Ltd (interior
contracts and fit out services), Noble Consolidated Glazing Ltd
(Glazing Services) and CCCL Power Infrastructure Ltd (BOP Orders
for Power Projects and food processing). Company is under corporate
Insolvency Resolution Process by NCLT order dated 20.04.2021. Mr.
Krishnasamy Vasudevan act as resolution
professional.


DECO EQUIPMENTS: ICRA Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA has kept the long-term ratings of Deco Equipments Private
Limited in the 'Issuer Not Cooperating' category. The rating is
denoted as "[ICRA]D; ISSUER NOT COOPERATING".

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long-term          4.00       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Cash Credit                   'Issuer Not Cooperating'
                                 Category

   Long-term          8.19       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Term Loan                     'Issuer Not Cooperating'
                                 Category

As part of its process and in accordance with its rating agreement
with Deco Equipments Private Limited, ICRA has been trying to seek
information from the entity so as to monitor its performance.
Further, ICRA has been sending repeated reminders to the entity for
payment of surveillance fee that became due. Despite multiple
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.

Incorporated in 1989, Deco Equipments Private Limited manufactures
custom-made axel parts, break assembly related parts, engine &
transmission components, earth moving components etc., which finds
its application in commercial vehicles and construction equipments.
DEPL is a closely held company and managed by Mr. Deric Fernandis,
Managing Director who served as an Engineer at Machinery
Manufactures Corporation – textile division for 8 years before
starting DEPL in 1989. DEPL's manufacturing facility is located in
Hebbal industrial area at Mysore in Karnataka and presently employs
around 160 workers (85 permanent employees and the rest on
contractual basis).


DHARAMCHAND PARASCHAND: ICRA Keeps D Ratings in Not Cooperating
---------------------------------------------------------------
ICRA has kept the Short-Term rating of Dharamchand Paraschand
Exports (Dharamchand) in the 'Issuer Not Cooperating' category. The
ratings are denoted as "[ICRA]D ; ISSUER NOT COOPERATING".

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Short-term        58.00       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Cash Credit                   'Issuer Not Cooperating'
                                 Category

   Short Term-        8.00       [ICRA]D; ISSUER NOT COOPERATING;
   Unallocated                   Rating Continues to remain under
                                 'Issuer Not Cooperating'
                                 Category

   Short Term-      (58.00)      [ICRA]D; ISSUER NOT COOPERATING;
   Interchangeable               Rating Continues to remain under
                                 'Issuer Not Cooperating'
                                 Category

As part of its process and in accordance with its rating agreement
with Dharamchand, ICRA has been trying to seek information from the
entity so as to monitor its performance. Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.

Established in 1974, Dharamchand is involved in the business of
trading, manufacturing and exporting cut and polished diamonds
(CPD). The firm currently operates from Bharat Diamond Bourse in
Bandra Kurla Complex and has a processing facility in Surat,
Gujarat.


G.K. SALES: CARE Keeps D Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of G.K. Sales
Corporation (GSC) continues 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

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 8, 2023,
placed the rating(s) of GSC under the 'issuer non-cooperating'
category as GSC had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. GSC continues to
be non-cooperative despite repeated requests for submission of
information through emails, phone calls and a letter/email dated
June 23, 2024, July 3, 2024 and July 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).

G.K. Sales Corporation (GSC) was established as a proprietorship
firm in September, 2013 and is currently being managed by Mr.
Gurvir Pal Singh. The firm is engaged in the distribution of Voltas
and LG's electronic goods in Amritsar district of Punjab. The firm
is the authorized distributor of Voltas Limited and Life's Good
Electronics Inc. (LG).


GALAXY CONCAB: CARE Keeps C Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Galaxy
Concab India Private Limited (GCIPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.13       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

   Short Term Bank     21.00       CARE A4; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated July 18, 2023,
placed the rating(s) of GCIPL under the 'issuer non-cooperating'
category as GCIPL had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. GCIPL continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
June 2, 2024, June 12, 2024 and June 22, 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).

Jaipur (Rajasthan)-based Galaxy Concab (India) Pvt. Ltd. (GCIPL)
was incorporated in 2006 by Mr. Vinay Gupta and Mr. Rajesh Gadia.
GCIPL is engaged in manufacturing of Low-tension (LT) power cables
mainly Low-tension Cross-Linked Polyethylene (LT XLPE) and
Low-Tension Polyvinyl Chloride (LT PVC) cables, Aerial Bunched
cables and conductors as well as PCC poles. Manufacturing
facilities for cables and conductors are located in Jaipur whereas
manufacturing facilities for PCC poles are located in Ajeetgarh
(Sikar).


GENID SHIPPING: ICRA Keeps B+ Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA has kept the Long-Term ratings for the Bank Facility of Genid
Shipping And Logistics Private Limited in the 'Issuer Not
Cooperating' category. The ratings are denoted as
"[ICRA]B+(Stable);ISSUER NOT COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long Term-          2.00       [ICRA]B+ (Stable) ISSUER NOT
   Unallocated                    COOPERATING; Rating continues
                                  to remain under 'Issuer Not
                                  Cooperating' category

   Long Term-          3.00       [ICRA]B+ (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Cash Credit                    to remain under 'Issuer Not
                                  Cooperating' category

As part of its process and in accordance with its rating agreement
with Genid Shipping And Logistics Private Limited, ICRA has been
trying to seek information from the entity so as to monitor its
performance. Further, ICRA has been sending repeated reminders to
the entity for payment of surveillance fee that became due. Despite
multiple requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.

Genid Shipping and Logistics Private Limited, incorporated in
October 2019, is an international freight forwarder providing
end-to-end services such as ocean freight services, customs
clearance, warehousing, chartering, stevedoring and supply chain
solutions. The company has 5 branches spread across India with 22
trailers and has partnered with over 50 liners. It derived 60% of
its revenues from freight forwarding segment and remaining 40% of
its revenues from chartering and stevedoring in FY2021. The company
is promoted by Mr. T Johnson and Ms. Sneha Britto.


GILLCO DEVELOPERS: ICRA Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
ICRA has kept the Long-Term ratings of Gillco Developers & Builders
Private Limited (GDB) in the 'Issuer Not Cooperating' category. The
rating is denoted as "[ICRA]D; ISSUER NOT COOPERATING'.

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long-term         20.00       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Cash Credit                   'Issuer Not Cooperating'
                                 Category

   Long-term          3.00       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Term Loan                     'Issuer Not Cooperating'
                                 Category

As part of its process and in accordance with its rating agreement
with GDB, ICRA has been trying to seek information from the entity
to monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due. Despite repeated requests by ICRA, the entity's management has
remained non-cooperative. In the absence of the requisite
information and in line with the aforesaid policy of ICRA, a rating
view has been taken on the entity based on the best available
information.

Gillco Developers & Builders Private Limited (GDB) was incorporated
in February 2011 and is involved in real estate development in the
Mohali region in Punjab. The company is closely held by the Gill
family based in Chandigarh, Punjab and has Mr. Ranjeet Singh Gill
as its Managing Director. Mr. Gill has more than 10 years of
experience in the real estate development business, having executed
various residential projects in Mohali, Punjab. The company builds
residential spaces in Mohali, Punjab which includes plots, flats,
villas and commercial complexes.


GREENLANDS (A&M): CARE Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Greenlands
(A&M) Corporation (GC) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      28.75       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

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

CARE Ratings Ltd. had, vide its press release dated July 26, 2023,
placed the rating(s) of GC under the 'issuer non-cooperating'
category as GC had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. GC continues to be
non-cooperative despite repeated requests for submission of
information through emails, 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).

Greenland Corporation (GC), established by Late R.N. Khetrapal in
1950 initiated business as a franchise of Ferguson tractors which
pioneered the concept of mechanized farming in various districts of
eastern Uttar Pradesh. The business was diversified by the current
partners (sons of Mr. R.N. Khetrapal) by adding dealerships of
other Original Equipment Manufacturers (OEMs) across different
segments, viz. TVS Motors Limited (deals in 2-wheels; associated
since 1985), Force Motors (deals in passenger and light commercial
vehicle; associated since 2008), Terex Equipment Private Limited
(deals in tractors; associated since 2009), Atul Auto Limited
(deals in three wheelers; associated since 2010) and VE Commercial
Vehicles Limited (deals in medium and heavy commercial vehicles;
associated since 2010).

JAINAM COATEX: ICRA Keeps B Debt Ratings in Not Cooperating
-----------------------------------------------------------
ICRA has kept the Long-Term rating of Jainam Coatex LLP (JCL) in
the 'Issuer Not Cooperating' category. The ratings are denoted as
"[ICRA]B(Stable); ISSUER NOT COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long Term-          2.50       [ICRA]B (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Cash Credit                    to remain under 'Issuer Not
                                  Cooperating' category

   Long Term-          3.25       [ICRA]B (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Term Loan                      to remain under 'Issuer Not
                                  Cooperating' category

   Long Term-          2.50       [ICRA]B (Stable) ISSUER NOT
   Unallocated                    COOPERATING; Rating continues
                                  to remain under 'Issuer Not
                                  Cooperating' category

As part of its process and in accordance with its rating agreement
with JCL, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

Established in September 2014, JCL is a limited liability
partnership firm and is owned and managed by Mr. Hitesh Parekh
along with four other partners. The firm is involved in
manufacturing of artificial/synthetic leather from its
manufacturing facility in Rajkot (Gujarat) with installed capacity
of producing 18,00,000 metre of artificial leather per annum.


JELENTA POLYTRADERS: Liquidation Process Case Summary
-----------------------------------------------------
Debtor: Jelenta Polytraders Private Limited
16B, Shakespeare Sarani
        B.K.Market, Flats Nos. 19 & 20
        Kolkata, West Bengal 700071

Insolvency Commencement Date: July 22, 2024
                              Order received on Aug. 8, 2024

Court: National Company Law Tribunal Kolkata Bench

Liquidator: Rajesh Keshri
     P-48, Pragati Pally, Lake Town
            Kolkata - 700089
            Email: keshri.co@gmail.com
            Email: cirp.jppl@gmail.com

Last date for
submission of claims: August 21, 2024


JOT IMPEX: ICRA Keeps D Debt Rating in Not Cooperating Category
---------------------------------------------------------------
ICRA has kept the long-term ratings of Jot Impex Pvt Ltd (JIPL)) in
the 'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]D; ISSUER NOT COOPERATING".

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long-term         20.00       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Cash Credit                   'Issuer Not Cooperating'
                                 Category

As part of its process and in accordance with its rating agreement
with JIPL, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

Jot Impex Private Limited (JIPL) was incorporated in 1998 by first
generation entrepreneur Mr. Gurinder Sahni to carry out
distribution & marketing of various international brands like Baume
& Mercier, Gucci, S.T. Dupont, Harry Winston and Jaeger LeCoulture
in India. The company carries out marketing of the above mentioned
international brands in India. The company is a distributor as well
as retailer for the mentioned brands. JIPL is exclusive dealer for
the above stated brands in India. The product portfolio of the
company includes watches, men accessories, writing instruments,
belts, wallets, travel bags etc


KARNATAKA HANDLOOM: ICRA Keeps B+ Debt Rating in Not Cooperating
----------------------------------------------------------------
ICRA has kept the Long-Term rating of The Karnataka Handloom
Development Corporation Limited (KHDC) in the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B+(Stable);
ISSUER NOT COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long Term-         27.00       [ICRA]B+ (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Cash Credit                    to remain under 'Issuer Not
                                  Cooperating' category

As part of its process and in accordance with its rating agreement
with KHDC, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

The Karnataka Handloom Development Corporation Ltd (KHDC) was
incorporated in 1975 under the 20-Point Programme of the GoI and
the GoK to promote the handloom industry and thus ensure the
economic and social welfare of the weavers in Karnataka. The KHDC
provides raw materials to weavers and procures fabric from them
against the payment of conversion charges. The company also has a
retail network of more than 50 showrooms across the state through
which its products are sold under the brand Priyadarshini
Handlooms. The registered office is at Hubli while its corporate
office is at Bangalore.


LAKSHMI SATYANARAYANA: ICRA Keeps D Ratings in Not Cooperating
--------------------------------------------------------------
ICRA has kept the Long-Term rating of Sri Lakshmi Satyanarayana Raw
& Boiled Rice Mill (SLSRBRM) in the 'Issuer Not Cooperating'
category. The rating is denoted as "[ICRA]D; ISSUER NOT
COOPERATING".

                      Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long-term         25.00       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Cash Credit                   'Issuer Not Cooperating'
                                 Category

   Long Term-         5.00       [ICRA]D; ISSUER NOT COOPERATING;
   Unallocated                   Rating Continues to remain under
                                 'Issuer Not Cooperating'
                                 Category

As part of its process and in accordance with its rating agreement
with SLSRBRM, ICRA has been trying to seek information from the
entity so as to monitor its performance. Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.

Sri Lakshmi Satyanarayana Raw & Boiled Rice Mill (SLSRBRM) was
established in the year 1985 by Mr. N. Surya Narayana Reddy and is
engaged in the milling of paddy and produces raw and boiled rice.
The firm has a milling unit in Penuguduru village of East Godavari
district of Andhra Pradesh with an installed capacity of 350MTPD.
The firm sells rice, broken rice and bran. Boiled rice is sold in
the open markets of Kerala and exported through agents. In the
domestic market, the firm sells its products under the brand name
"Coconut Tree".


LANCO SOLAR: ICRA Keeps D Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
ICRA has kept the Long-Term ratings for the Bank Facility of Lanco
Solar Private Limited (LSPL) in the 'Issuer Not Cooperating'
category. The ratings are denoted as "[ICRA]D; ISSUER NOT
COOPERATING".

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long-term        940.00       [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Term Loan                     'Issuer Not Cooperating'
                                 Category

As part of its process and in accordance with its rating agreement
with LSPL, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

Lanco Solar Private Limited (LSPL) established in July 2008 is a
100% subsidiary of Lanco Solar Energy Private Limited (LSEPL),
which in turn is a subsidiary of Lanco Infratech Limited (LITL).
LSPL is setting up 1800 Metric Ton per annum (MTPA) (increased from
initially envisaged capacity of 1250 MTPA) Polysilicon
manufacturing capacity and 100 MW (increased from initially
envisaged capacity of 80 MW) solar wafer manufacturing capacity.
LSPL has been allotted 250 acres of land in District Rajnandgaon of
Chhattisgarh for the implementation of the project. The said land
has been notified a Special Economic Zone (SEZ). LSPL also set up a
75 MW of crystalline silicon module manufacturing facility at the
same project site in FY 2012. The capex on the module manufacturing
facility was funded through fresh equity infusion and no additional
external debt was raised for the same. The company has been
sourcing solar cells from India and the modules manufactured have
so far been largely supplied to Lanco Solar Energy Private Limited
which is the parent company of LSPL and a solar EPC contractor.


LOHIYA DEVELOPERS: ICRA Keeps B Debt Ratings in Not Cooperating
---------------------------------------------------------------
ICRA has kept the long-term ratings of Lohiya Developers in the
'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]B (Stable); ISSUER NOT COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long Term-          5.00       [ICRA]B (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Cash Credit                    to remain under 'Issuer Not
                                  Cooperating' category

   Long Term-          0.50       [ICRA]B (Stable) ISSUER NOT
   Non Fund Based                 COOPERATING; Rating continues
   Others                         to remain under 'Issuer Not
                                  Cooperating' category
  
As part of its process and in accordance with its rating agreement
with Lohiya Developers, ICRA has been trying to seek information
from the entity to monitor its performance. Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite repeated requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of the requisite information and in line with the aforesaid
policy of ICRA, a rating view has been taken on the entity based on
the best available information

Lohiya Developers was incorporated in 2008 by Mr Munendra Singh
Lohiya. The company is engaged in the field of civil construction
in government, public and private sector. The company has its head
office in Meerut (Uttar Pradesh). Over the past few years the
company has been executing work for PWD and other state government
departments in the state of UP, mostly in the city of Meerut. In
FY2016, Mr Manuj Kumar, son of Mr Munendra Lohiya became partner of
the firm with 40% stake.


MAHABUBNAGAR MUNICIPALITY: ICRA Keeps B+ Rating in Not Coop.
------------------------------------------------------------
ICRA has kept the rating of Mahabubnagar Municipality in the
'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]B+(Stable); ISSUER NOT COOPERATING".

As part of its process and in accordance with its rating agreement
with "Mahabubnagar Municipality", ICRA has been trying to seek
information from the entity to monitor its performance. Further,
ICRA has been sending repeated reminders to the entity for payment
of surveillance fee that became due. Despite repeated requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of the requisite information and in line with the aforesaid
policy of ICRA, a rating view has been taken on the entity based on
the best available information.

Mahabubnagar Municipality provides civic services to the
Mahabubnagar city, located in the Mahabubnagar district, Telangana,
located around 100 km from the state capital, Hyderabad. The
Municipality was established in 1952 and initially covered an area
of 13.24 sq. km. In 2012, ten surrounding gram panchayats, namely
Bandmeedipally, Doddalonipally, Timmasanipally, Palakonda,
Christianpally, Chinadarpall, Yenugonda, Apanapally, Boyapally and
Yedira were merged with the MM, thus increasing the overall area
covered to 98.64 sq.km. The city had a total population of 2,17,942
as per the 2011 Census and is divided into 49 wards. The major
functions of the MM involve water supply, solid waste management,
repair and maintenance of roads and street lighting in its area. An
elected body, headed by a chairperson, administers the
municipality. The Commissioner acts as the executive head and
overseas the day-to-day functioning of the ULB.


MATESHWARI FOOD: ICRA Keeps B Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA has kept the long-term ratings of Mateshwari Food Stuff
Private Limited (MFS) in the 'Issuer Not Cooperating' category. The
rating is denoted as "[ICRA]B (Stable); ISSUER NOT COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long Term-          6.50       [ICRA]B (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Term Loan                      to remain under 'Issuer Not
                                  Cooperating' category

   Long Term-         17.50       [ICRA]B (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Cash Credit                    to remain under 'Issuer Not
                                  Cooperating' category

As part of its process and in accordance with its rating agreement
with MFS, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

Established in May 2014, Mateshwari Foodstuff Private Limited (MFS)
is promoted by Mr. Ramdeep Sharma and family. The company is
engaged in milling and processing of basmati rice. The plant is
located at Bundi (Rajasthan) and has a processing capacity of
22,000 MTPA. The commercial production commenced from May 2015
majorly in line with the schedule. The company procures paddy from
the local mandi in Bundi and sells its products to basmati rice
exporters in Gujarat, Punjab and Delhi. The company has setup a
rice processing unit at Bundi, Rajasthan with a total installed
capacity of 22,000 MTPA.


MUKTA INDUSTRIES: ICRA Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA has kept the long-term and short-term ratings of Mukta
Industries Private Limited (MIPL) in the 'Issuer Not Cooperating'
category. The rating is denoted as "[ICRA]D; ISSUER NOT COOPERATING
/[ICRA]D; ISSUER NOT COOPERATING".

                    Amount
   Facilities     (INR crore)   Ratings
   ----------     -----------   -------
   Long-term-        25.00      [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                   Rating Continues to remain under
   Cash Credit                  'Issuer Not Cooperating'
                                Category

   Short-term         5.00      [ICRA]D; ISSUER NOT COOPERATING;
   Non-fund based               Rating continues to remain under
   Others                       'Issuer Not Cooperating'
                                Category

   Long-term/         5.00      [ICRA]D/[ICRA]D; ISSUER NOT
   Short Term                   COOPERATING; Rating Continues to
   Unallocated                  remain under 'Issuer Not
                                Cooperating' Category

As part of its process and in accordance with its rating agreement
with MIPL, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

Established in 1994 as a private limited company, Mukta Industries
Private Limited (MIPL) is a metal trading company involved in
various metal products, which include alloy steel bars and rods,
billets, channels, wire rods and plates of different alloy grades.
The Mukta Group of Industries consists of other entities namely
Prakash Steel Corporation (PSC), Vastupal Bearing Races Limited
(VBRL), Mukta Automation Private Limited (MAPL) and Vastupal Sales
& Services LLP (VSSL). While PSC manufactures bright bars using
different grade of stainless steel, alloy steel and carbon steel,
VBRL manufactures forged and machined bearing used in ball bearing,
roller bearings, taper bearings and auto ancillary industry. MAPL
manufactures machined items as per customer's specifications and
VSSL provides financial services.

In FY2019, on a provisional basis, the company reported a net
profit of INR0.44 crore on an operating income of INR80.80 crore,
as compared to a net profit of INR0.24 crore on an operating income
of INR133.44 crore in the previous fiscal.


NASHIK FORGE: Liquidation Process Case Summary
----------------------------------------------
Debtor: Nashik Forge Private Limited
H-149 MIDC, Ambad, Nashik,
        Maharashtra, India, 422010

Insolvency Commencement Date: August 2, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: Rajendra Kishanrao Joshi
     Off. No. 401A Manik Apartement
            Plot No. 38/25 A,
            Cts No.94/25 A,
            4th floor Lane No. 11 Prabhat Road
            Deccan Gymkhana, Pune, Pune City
            Maharashtra, India 411004
            Email: ca.anuradhajayaraman@gmail.com
            Email: ip.nashikforge@gmail.com

Last date for
submission of claims: September 2, 2024


RAJA COTTON: CARE Keeps D Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Raja Cotton
Industries (RCI) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.25       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 August 9, 2023,
placed the rating(s) of RCI under the 'issuer non-cooperating'
category as RCI had failed to provide information for monitoring of
the rating. RCI continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated June 24, 2024, July 4, 2024, July 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).

RCI is a partnership firm established by five partners led by Mr.
Harunbhai Bilakhiya and Mr. Sajidbhai Bilakhiya in the year 2009.
Mr. Harunbhai Bilakhiya and Mr. Sajidbhai Bilakhiya has 33 years
and 13 years of industry experience respectively. RCI is engaged
into the business of cotton ginning & pressing and seed crushing.
Its plant located at Amreli (Gujarat) with an installed capacity of
200 bales per day as on March 31, 2016 and is spread across 3,500
sq. yard of area.


S KUMARS: Liquidation Process Case Summary
------------------------------------------
Debtor: S. Kumars Limited
Niranjan, 99, Marine Drive,
        Mumbai 400002
        Maharashtra, India

Insolvency Commencement Date: July 25, 2024

Court: National Company Law Tribunal Mumbai Bench-II

Liquidator: Mr. Ankit Goel
            E-10A, Lower Ground Floor, Kailash Colony
            New Delhi - 110048
            Email: anilgoel@aaainsolvency.com
            Email: info@aaainsolvency.com

            First Floor, 64, Okhla Estate, Phase III
            Near Modi Mills
            New Delhi 110020
            Email: s.kumars.ibc@gmail.com

Last date for
submission of claims: August 24, 2024


S.S.T PACKAGING: CARE Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of S.S.T
Packaging Private Limited (SPPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       7.49       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated June 19, 2023,
placed the rating(s) of SPPL under the 'issuer non-cooperating'
category as SPPL had failed to provide information for monitoring
of the rating. SPPL continues to be non-cooperative despite
repeated requests for submission of information through e-mails,
phone calls and a letter/email dated May 4, 2024, May 14, 2024, May
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).

S.S.T Packaging Private Limited (SPPL) was incorporated in 2016 by
Mr. Tanmay Kumar and Mrs. Snigdha Kumar based out of Kolkata, West
Bengal for setting up a manufacturing unit for paper poly coating
and paper cups. The commercial operation of the company has started
from July 2017 onwards. The company has been engaged in
manufacturing of paper poly coating & paper cups at its plant
located at Sonarpur, Kolkata, West Bengal. The company procures its
raw materials from Japan, China and Kolkata and it sells its
products in the domestic market.


SANGAMNER TALUKA: ICRA Keeps B Debt Rating in Not Cooperating
-------------------------------------------------------------
ICRA has kept the Long-Term of Sangamner Taluka Sahakari Dudh
Utpadak And Prakriya Sangh Limited (SSDUPL) in the 'Issuer Not
Cooperating' category. The ratings are denoted as
"[ICRA]B(Stable);ISSUER NOT COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long Term-          7.00       [ICRA]B (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Term Loan                      to remain under 'Issuer Not
                                  Cooperating' category

As part of its process and in accordance with its rating agreement
with SSDUPL, ICRA has been trying to seek information from the
entity so as to monitor its performance Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.

Sangamner Taluka Sahakari Dudh Utpadak and Prakriya Sangh Ltd
(SSDUPL) was incorporated in Sangamner in 1977 under the
co-operatives movement in agriculture farming in Maharashtra. The
Dairy was started by Mr. Bhausaheb Santuji Thorat, a senior social
and political leader, banker and freedom fighter. The dairy is
fully integrated dairy with processing capacity of 6.0 lakh litres
of milk per day. SSDUPL is present across the supply chain of milk
procurement, processing and marketing of liquid milk and milk
products underits brand – 'Rajhans'. The dairy products
manufactured and marketed by the company include milk, pouch milk,
flavored milk, paneer, lassi, ghee, shrikhand, dahi, chhas, pedha
and gulab jamun.


SENTINI HEALTHCARE: ICRA Keeps B+ Debt Ratings in Not Cooperating
-----------------------------------------------------------------
ICRA has moved the rating for the line of credit of Sentini
Healthcare India Private Limited (SHIPL) to the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B+(Stable);
ISSUER NOT COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long Term-          26.00      [ICRA]B+ (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating moved to
   Term Loan                      'Issuer Not Cooperating'
                                  category

   Long Term-           2.00      [ICRA]B+ (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating moved to
   Cash Credit                    'Issuer Not Cooperating'
                                  category

As a part of its process and in accordance with its rating
agreement with SHIPL, ICRA has been trying to seek information from
the entity so as to monitor its performance. Despite multiple
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, the company's rating has
been moved to the 'Issuer Not Cooperating' category. The rating
action has been taken in accordance with ICRA's policy on
non-cooperation by a rated entity available at www.icra.in.

Sentini Healthcare India Private Limited was incorporated in 2022
by Mr. Seshagiri Rao along with the other directors, Mrs. Padma
Movva and Mr. Anand Srinivas Movva. It is setting up a 125-bed
hospital in Vijayawada, Andhra Pradesh and the commercial
operations are likely to start from March 2024 with main
concentration on specialties like Neurology, Gynecology and
Oncology. The company is promoted by the Sentini group and is
headed by Dr. Padma Movva. The hospital is spreads over an area of
33,000 sq.ft located in the prime are of the Vijayawada city.


SIDHI VINAYAK: CARE Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Sidhi
Vinayak Rice Mills (SVRM) continue to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       4.14       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank     18.00       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 August 1, 2023,
placed the rating(s) of SVRM under the 'issuer non-cooperating'
category as SVRM had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. SVRM continues
to be non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
June 16, 2024, June 26, 2024 and July 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).

Karnal-based (Haryana) SVRM established in July 2008, as a
partnership firm by Mr. Rameshwar Das, Mr. Ashok Kumar, Mr. Suresh
Kumar and Mr. Amit Kumar sharing profit and losses equally. The
firm started its commercial operations in February 2009. The firm
is engaged in milling and processing and trading of basmati rice.


SODE VADIRAJA: ICRA Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
ICRA has kept the Long-Term rating of Shri Sode Vadiraja Mutt
Education Trust in the 'Issuer Not Cooperating' category. The
rating is denoted as "[ICRA]D; ISSUER NOT COOPERATING".

                     Amount
   Facilities     (INR crore)    Ratings
   ----------     -----------    -------
   Long-term          21.00      [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                    Rating Continues to remain under
   Term Loan                     'Issuer Not Cooperating'
                                 Category

As part of its process and in accordance with its rating agreement
with Shri Sode Vadiraja Mutt Education Trust , ICRA has been trying
to seek information from the entity so as to monitor its
performance. Further, ICRA has been sending repeated reminders to
the entity for payment of surveillance fee that became due. Despite
multiple requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.

Shri Sode Vadiraja Mutt Education Trust was incorporated in the
year 2009 and manages an engineering college named by Shri Madhwa
Vadiraja Institute of Technology and Management (SMVITM), in Udupi
district, Karnataka. The college started functioning from July 2011
and is affiliated to Visvesvaraya Technological University (VTU)
and is also AICTE approved (All India Council for Technical
Education) and recognized by Government of Karnataka. The trust was
formed by Shree Vishwa Vallabha Theertha Swamiji for undertaking
educational and research activities. The members of the trust are
Shree Vishwa Vallabha Theertha Swamiji, Shri P. Srinivas Tantry and
Shri Rathna Kumar. The main objective of the trust is to set up and
operate government aided and private courses/programs in the field
of technical education, training and research in engineering and
technology.


TWO OCEANS: Voluntary Liquidation Process Case Summary
------------------------------------------------------
Debtor: Two Oceans Strategy India Private Limited
        44 Backary Portion, 2nd Floor Regal Building
        Connaught Place, Central Delhi,
        New Delhi, India 110001

Insolvency Commencement Date: August 8, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: Mr. Hitesh Kothari
     1A, Satya Apartment
            Opposite Kandivali MTNL Building
            S. V, Road, Kandivali (W)
            Mumbai - 400067
            Email: hiteshkotharics@gmail.com
            Email: hiteshkothariipc@gmail.com

Last date for
submission of claims: September 7, 2024


UGH VINTAGE: Liquidation Process Case Summary
---------------------------------------------
Debtor: UGH Vintage Hospital and Medical Research Centre Private
Limited
Caculo Enclave, St. Inez,
        Panaji, Goa 403001

Insolvency Commencement Date: August 13, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: Girish Krishna Hingorani
     5c, Mehta Sadan,
            S H Parelkar Marg, Dadar Mumbai 400028
            Email: girish2207@rediffmail.com
            Email: cirp.ughvintagehospital@gmail.com

Last date for
submission of claims: September 12, 2024


USHA IMPEX: CARE Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Usha Impex
(UI) 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     24.00       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 August 10,
2023, placed the rating(s) of UI under the 'issuer non-cooperating'
category as UI had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. UI continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
June 25, 2024, July 5, 2024 and July 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).

Incorporated in 1998, Usha Impex (UI) is engaged in the trading of
non-ferrous metals from its main office in Ludhiana, Punjab. In
addition, the firm has three warehouse-cum-sales offices, one each
in Gurugram, Mumbai and Bangalore. The traded products include
non-ferrous metals like Zinc, Nickel, Tin, Copper, Lead etc. in the
form of wires, rods, bars, sheets, ingots, cathodes etc. The
products find application in automobile, bicycle and electrical
components with end users located throughout India.




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

A.J.S. RESIDENTIAL: Court to Hear Wind-Up Petition on Sept. 13
--------------------------------------------------------------
A petition to wind up the operations of A.J.S. Residential Limited
will be heard before the High Court at Auckland on Sept. 13, 2024,
at 10:45 a.m.

The Commissioner of Inland Revenue, filed the petition against the
company on July 22, 2024.

The Petitioner's solicitor is:

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


KESTER BLACK: Investors Upset Following Company Collapse
--------------------------------------------------------
Radio News Zealand reports that a New Zealand woman once celebrated
for turning NZD50 into a multimillion-dollar business empire is now
facing angry investors upset at how recent financial problems have
been handled.

Otago woman Anna Ross founded cosmetic brand Kester Black, which
said it makes "natural nail care" and takes a "holistic approach to
beauty".

In 2021, it was reported that the business had made more than
NZD1.16 million in revenue in the past 12 months.

That same year, the Australian-registered arm of the business,
Kester Black Pty Ltd, raised more than AUD2 million from investors
via equity crowdfunding platform Birchal, RNZ recalls. At that
point, the company was valued at AUD22 million.

But the company entered voluntary administration on July 9.
Hamilton Murphy was appointed administrators, RNZ says.

According to RNZ, the New Zealand business was put into liquidation
the following month, with Waterstone Insolvency appointed. Kester
Black Pty was the sole shareholder.

One investor, Tahnee Lucas, said they had been told investors would
not get any of their money back.

"I invested close to NZD3,000 so will get nothing for that."

Hamilton Murphy would not confirm this but said interested parties
would be sent more information soon.

RNZ relates that Ms. Lucas said she had not been able to join a
shareholders' call because the Zoom meeting was capped at 100
participants.

RNZ notes that the business and assets of Kester Black Pty Ltd were
sold at the end of July to New New New Pty Ltd, a company owned by
Fergus Sully, whom media have previously referred to as Ms. Ross's
"business and life partner".

The sale was for just over AUD146,220. A 10 percent deposit was
required, and then the remainder was to be paid in 12 monthly
instalments.

The minutes of a creditors' meeting in mid-August show the deed of
company arrangement would give priority creditors a full return of
what they were owed, and unsecured creditors about 29c in the
dollar, RNZ discloses.

In New Zealand, New New New Holdings is listed on the Companies
Office with Ms. Ross as the director.

The New Zealand Companies Office lists Ms. Sully as the sole
director of the Kester Black business.

The administrator's report said Kester Black Pty Ltd had reported
trading losses over the financial years prior to the
administration. It had not been able to keep up with its tax
liabilities and owed the Australian Tax Office AUD62,125.

Trading appears to have continued as usual, with nothing in the
company's frequent social media advertisements to indicate any
behind-the-scenes change - except for "angry" reactions and
comments that appear to have been deleted.

Ms. Lucas said investors were given the idea that it was an
"ethical, conscious company".

"But the fellow investors I have managed to speak to feel the way
there was no communication from the company and the business has
been sold to a new company with her husband as the director and
kept trading is anything but ethical. Investors are upset and feel
it's all been smoke and mirrors as we were sent communications
about how the business was doing well throughout the period of our
investment with positively geared company updates.

"There are concerns that the funds raised for the company may have
been used for product development, with the new entity now reaping
the benefits without any consideration for the original
shareholders. It feels as though the company has evaded
accountability, and despite accepting the risk of investing, the
lack of transparency and communication is troubling."

Another investor said they had received positive updates for about
three years but now the "rug has been firmly pulled out".

"No gratitude, no acknowledgement, no apology."

Anna Ross said she was not in a position to comment but would be in
touch when she had information to share, RNZ relays.

The Financial Markets Authority warns that equity crowfunding is
risky and while investments might do well, people could also lose
all their money, adds RNZ.


PINFOLD CONSTRUCTION: Court to Hear Wind-Up Petition on Sept. 10
----------------------------------------------------------------
A petition to wind up the operations of Pinfold Construction
Limited will be heard before the High Court at Rotorua on Sept. 10,
2024, at 10:45 a.m.

The Commissioner of Inland Revenue, filed the petition against the
company on July 19, 2024.

The Petitioner's solicitor is:

          Christina Anne Hunt
          Inland Revenue, Legal Services
          21 Home Straight
          PO Box 432
          Hamilton


SAMASONI CONSTRUCTIONS: Court to Hear Wind-Up Petition on Sept. 20
------------------------------------------------------------------
A petition to wind up the operations of Samasoni Constructions
Limited will be heard before the High Court at Auckland on Sept.
20, 2024, at 10:45 a.m.

The Commissioner of Inland Revenue filed the petition against the
company on July 25, 2024.

The Petitioner's solicitor is:

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


SPECTRUM PACIFIC: Creditors' Proofs of Debt Due on Sept. 13
-----------------------------------------------------------
Creditors of Spectrum Pacific Limited are required to file their
proofs of debt by Sept. 13, 2024, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on May 12, 2024.

The company's liquidator is:

          Kelera Nayacakalou
          2 Foxbury Court
          Hamilton


WAITONUI MILLTRUST: Creditors' Proofs of Debt Due on Oct. 9
-----------------------------------------------------------
Creditors of Waitonui Milltrust Agricultural Holdings Farm
Management Limited Partnership, WMAH Farm Management General
Partner Limited, Waitonui Milltrust Agricultural Holdings Limited
Partnership and Waitonui Milltrust Agricultural Holdings General
Partner Limited are required to file their proofs of debt by Oct.
9, 2024, to be included in the company's dividend distribution.

The High Court at Auckland appointed Tony Leonard Maginness and
Jared Waiata Booth of Baker Tilly Staples Rodway as liquidators on
Aug. 28, 2024.




=====================
P H I L I P P I N E S
=====================

CONTI'S BAKESHOP: Dennis Uy Sells 2 Restaurants at Huge Discount
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Bilyonaryo.com reports that the rumor mill is swirling about how
much Dennis Uy really pocketed for his two prized restaurant
brands, Conti's Bakeshop & Restaurant and Wendy's Philippines.

According to Bilyonaryo.com, a Babbler said Mr. Uy reportedly sold
Conti's Bakeshop and the local Wendy's fast food chain franchise
for just PHP2 billion.

If true, that's a mind-blowing drop from the $200 million (PHP11.6
billion) price tag he was aiming for back in 2022, according to
Reuters.

Even with the massive discount, that's still a pretty penny for Mr.
Uy, whose businesses have been drowning in losses, debt, and cash
flow woes since 2022, the last year of former President Rodgrigo
Duterte's term.

Bilyonaryo.com relates that Babbler said it's a tough time to sell
in the restaurant industry, with top local and foreign brands still
struggling to find buyers willing to meet their asking prices.

Bilyonaryo.com was the first to spill the tea on the sale of
Conti's and Wendy's to Crystal Jacinto, owner of the stem cell
clinic EW Villa Medica, and her wealthy partner, Malaysian
businessman Jaya Sudhir, who invited President Bongbong Marcos to
the Singapore F1 last year.




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S I N G A P O R E
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MAGNUS ENERGY: Creditors' Proofs of Debt Due on Oct. 4
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Creditors of Magnus Energy Group Ltd and Aspen Management Pte. Ltd.
are required to file their proofs of debt by Oct. 4, 2024, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on Aug. 27, 2024.

The company's liquidators are:

          Mr. Don M Ho
          Mr. David Ho
          c/o DHA+ pac
          63 Market Street
          #05-01A Bank of Singapore Centre
          Singapore 048942


NTEGRATOR: Ex-Management Seeks High Court Winding-Up Order
----------------------------------------------------------
The Business Times reports that Ntegrator, formerly known as
Watches.com, has received two originating applications from its
former financial controller and ex-executive director, each seeking
a winding-up order from the High Court.

In a bourse filing on Sept. 3, the company said it has received an
Aug. 23 application from solicitors acting on behalf of Sw Chan
Kit, the former financial controller of the company, BT relays.

According to BT, Sw is seeking a winding-up order against the
company, and an order for representatives from Baker Tilly
(Singapore) to be appointed as joint and several liquidators of
Ntegrator, from the general division of Singapore's High Court.

BT relates that the application also asked for the costs of the
proceedings to be assessed, if not fixed or agreed, and be paid to
Sw out of the company's assets.

Ntegrator also received a second application dated Aug. 30 seeking
the same orders from the High Court, from solicitors of Sw and Han
Meng Siew, a former executive director of Ntegrator.

The second application asked for the costs of proceedings to be
paid to Sw and Han.

The hearing dates for the applications are Sept. 13 and Sept. 20,
BT notes.

BT says Ntegrator is disputing the originating applications and
seeks to claim and/or counterclaim any losses or damages suffered.
It has sought legal advice and "intends to vigorously defend
itself" against the applications.

It added that its current operations are not expected to be
materially affected by the originating applications.

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.


RASEUL TRADE: Court to Hear Wind-Up Petition on Sept. 20
--------------------------------------------------------
A petition to wind up the operations of Raseul Trade International
(S) Pte Ltd will be heard before the High Court of Singapore on
Sept. 20, 2024, at 10:00 a.m.

Maybank Singapore Limited filed the petition against the company on
Aug. 28, 2024.

The Petitioner's solicitors are:

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


SUPREME EXIMP: Court Enters Wind-Up Order
-----------------------------------------
The High Court of Singapore entered an order on Aug. 30, 2024, to
wind up the operations of Supreme Eximp Pte. Ltd.

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

The companies' liquidators are:

         Leow Quek Shiong
         Gary Loh Weng Fatt
         BDO Advisory
         600 North Bridge Road
         #23-01 Parkview Square
         Singapore 188778


TML OFFSHORE: Creditors' Meetings Set for Sept. 24
--------------------------------------------------
TML Offshore & Agencies Pte Ltd will hold a meeting for its
creditors on Sept. 24, 2024, at 11:00 a.m. via audio visual
communication.

Agenda of the meeting includes:

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

   b. to appoint Liquidators;

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

   d. Any other business.



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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
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