/raid1/www/Hosts/bankrupt/TCRAP_Public/240913.mbx        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 13, 2024, Vol. 27, No. 185

                           Headlines



A U S T R A L I A

OPEN SPARKZ: First Creditors' Meeting Set for Sept. 18
OZ PRIME: First Creditors' Meeting Set for Sept. 19
SIMONS FAMILY: First Creditors' Meeting Set for Sept. 17
WISDOM HOLDINGS: First Creditors' Meeting Set for Sept. 17


C H I N A

AIXIN LIFE: Posts $176,783 Net Loss in Fiscal Q2
HYWIN WEALTH: China Probes US$1.2BB Wealth Firm Over Fundraising
SINO-OCEAN GROUP: Gets 12-Day Reprieve on Liquidation in Hong Kong
SUNAC CHINA: Unveils Plans to Overhaul Local Debt


I N D I A

AADHAR SECURITIES: Voluntary Liquidation Process Case Summary
AAISHNI PHARMACEUTICALS: Liquidation Process Case Summary
ABHIJEET TOLL: Voluntary Liquidation Process Case Summary
AEGIS MEDICINES: Liquidation Process Case Summary
AKSA PAPER: Insolvency Resolution Process Case Summary

AMTEK AUTO: ED Attaches Group's Assets Worth INR5,000 crore
ARKCOM TELECOMMUNICATIONS: Liquidation Process Case Summary
B.D KATARIA & CO: Voluntary Liquidation Process Case Summary
BHADRAGIRI POWER: Liquidation Process Case Summary
C. R. JEWELLERY: CRISIL Keeps D Debt Rating in Not Cooperating

C.L. GULHATI: CRISIL Keeps D Debt Ratings in Not Cooperating
CALL EXPRESS: CRISIL Keeps D Debt Ratings in Not Cooperating
CHADALAVADA INFRATECH: CRISIL Keeps D Ratings in Not Cooperating
CITY CENTRE: CRISIL Keeps B Debt Ratings in Not Cooperating
CLARA SWAIN: CRISIL Keeps D Debt Rating in Not Cooperating

CLAYRIS CERAMICS: CRISIL Keeps D Debt Ratings in Not Cooperating
CLUSTER JEWELLERY: CRISIL Keeps B Debt Ratings in Not Cooperating
COSMOS BUSINESS: CRISIL Keeps B+ Debt Rating in Not Cooperating
DAKSHA PROPERTY: CRISIL Keeps D Debt Ratings in Not Cooperating
ECOPHOS GNFC: Liquidation Process Case Summary

ENERGETIC GLOBETEX: CRISIL Keeps D Debt Rating in Not Cooperating
FORD CREDIT: Voluntary Liquidation Process Case Summary
GANGA KNIT: CRISIL Keeps D Debt Rating in Not Cooperating
GNI INFRASTRUCTURE: CRISIL Keeps B+ Rating in Not Cooperating
GOLDEN WEALTH: Insolvency Resolution Process Case Summary

GOVINDAM PROJECTS: CRISIL Keeps B Debt Ratings in Not Cooperating
GREEN VALLEY: Voluntary Liquidation Process Case Summary
HELIX INVESTMENTS: Voluntary Liquidation Process Case Summary
HI-TECH GEARS: Insolvency Resolution Process Case Summary
HIGHLAND BUILDING: First Creditors' Meeting Set for Sept. 17

INNOVATIVE WATER: Voluntary Liquidation Process Case Summary
JEE CELEBRATIONS: CRISIL Keeps B+ Debt Ratings in Not Cooperating
KGEPL ENGINEERING: Liquidation Process Case Summary
KINGSTON PAPTECH: Insolvency Resolution Process Case Summary
KISHORI INDUSTRIES: CRISIL Keeps B+ Debt Rating in Not Cooperating

LAKSHMI NARASIMHA: CRISIL Keeps B+ Debt Rating in Not Cooperating
LAKSHMI NARAYANA: CRISIL Keeps B Debt Ratings in Not Cooperating
LAMINEX: CRISIL Keeps B+ Debt Ratings in Not Cooperating Category
LIFELINE MULTI: CRISIL Moves B+ Debt Rating from Not Cooperating
LOGON INDIA: CRISIL Keeps D Debt Ratings in Not Cooperating

M-FAC SOLUTIONS: CRISIL Moves B Debt Ratings to Not Cooperating
MAGNIFICO MINERAL: Insolvency Resolution Process Case Summary
MITTAL LUMBER: Liquidation Process Case Summary
MURALI EXPORT: CRISIL Lowers Rating on INR2.5cr Loan to D
OCM INDIA: Voluntary Liquidation Process Case Summary

PADMA LAXMI: CRISIL Keeps B Debt Ratings in Not Cooperating
PAI KHOT INFRA: Liquidation Process Case Summary
PELICAN INTERNATIONAL: CRISIL Keeps D Ratings in Not Cooperating
PLANET PR: CRISIL Keeps D Debt Rating in Not Cooperating Category
POYNTPOS SYSTEMS: Voluntary Liquidation Process Case Summary

Q-DAS SOFTWARE: Voluntary Liquidation Process Case Summary
R. N. KAPOOR: CRISIL Moves B Debt Ratings to Not Cooperating
SAI CARTON: CRISIL Keeps B Debt Ratings in Not Cooperating
SELVE CASHEWS: CRISIL Keeps B Debt Ratings in Not Cooperating
SHIVALIK COTSYN: Liquidation Process Case Summary

SIGMA-C INFRASTRUCTURE: Liquidation Process Case Summary
SPECIAL CERAMICS: CRISIL Keeps B Debt Ratings in Not Cooperating
TOTEM INFRASTRUCTURE: Liquidation Process Case Summary
U.N. AUTOMOBILES: Insolvency Resolution Process Case Summary
VALID TECHNOLOGIES: Voluntary Liquidation Process Case Summary

VGS REALTY: Insolvency Resolution Process Case Summary
VISA ENERGY: Insolvency Resolution Process Case Summary


J A P A N

[*] JAPAN: Business Failures Log First Drop in 29 Months in August


N E W   Z E A L A N D

GLASSFORCE LIMITED: Creditors' Proofs of Debt Due on Oct. 12
GURU NZ: Court to Hear Wind-Up Petition on Oct. 4
PRECISE TRAFFIC: Court to Hear Wind-Up Petition on Oct. 1
PRO SLABS: Creditors' Proofs of Debt Due on Oct. 3
WATTS LIMITED: Creditors' Proofs of Debt Due on Oct. 1



S I N G A P O R E

CORDLIFE GROUP: Tan Huiying Steps Down as Group Director
EVERETT LNG: Creditors' Proofs of Debt Due on Oct. 12
FINANTIER PTE: Court Enters Wind-Up Order
WA SUPERAPP: Final Meeting Set for October 18


S O U T H   K O R E A

QOO10 GROUP: TMON Says in Talks for Merger


T H A I L A N D

[*] THAILAND: Household Debt Rises to 16-Year High

                           - - - - -


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

OPEN SPARKZ: First Creditors' Meeting Set for Sept. 18
------------------------------------------------------
A first meeting of the creditors in the proceedings of Open Sparkz
Pty Ltd will be held on Sept. 18, 2024 at 11:00 a.m. online via
Microsoft Teams.

Joshua Philip Taylor of Taylor Insolvency was appointed as
administrators of the company on Sept. 6, 2024.


OZ PRIME: First Creditors' Meeting Set for Sept. 19
---------------------------------------------------
A first meeting of the creditors in the proceedings of OZ Prime
Group Pty Ltd will be held on Sept. 19, 2024 at 11:00 a.m. at the
offices of Westburn Advisory at Level 5, 115 Pitt Street in
Sydney.

Shumit Banerjee of Westburn Advisory was appointed as administrator
of the company on Sept. 10, 2024.


SIMONS FAMILY: First Creditors' Meeting Set for Sept. 17
--------------------------------------------------------
A first meeting of the creditors in the proceedings of Simons
Family Business Pty Limited will be held on Sept. 17, 2024 via
teleconference only.

Blair Pleash of Hall Chadwick was appointed as administrator of the
company on Sept. 6, 2024.


WISDOM HOLDINGS: First Creditors' Meeting Set for Sept. 17
----------------------------------------------------------
A first meeting of the creditors in the proceedings of Wisdom
Holdings Pty Ltd will be held on Sept. 17, 2024 at 2:00 p.m. via
virtual meeting only.

Ernie Chou and Trent McMillen of MaC Insolvency were appointed as
administrators of the company on Sept. 5, 2024.




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

AIXIN LIFE: Posts $176,783 Net Loss in Fiscal Q2
------------------------------------------------
AiXin Life International, Inc. filed with the U.S. Securities and
Exchange Commission its Quarterly Report on Form 10-Q reporting net
losses of $176,783 and $97,546 for the three months ended June 30,
2024 and 2023, and $780,383 and $627,330 for the six months ended
June 30, 2024 and 2023, respectively.

The Company had used net cash in operating activities of $348,330
and $350,760 for the six months ended June 30, 2024 and 2023,
respectively, and has an accumulated deficit of $18,000,775 as of
June 30, 2024. These facts and conditions raise substantial doubt
about the Company's ability to continue as a going concern. From
January 1, 2024 through June 30, 2024, the Company's cash and cash
equivalents increased from $443,758 to $614,699 mainly due to an
increase in cash inflow from financing activities.

Management believes that it has developed a liquidity plan,
summarized below, that, if executed successfully, should provide
sufficient liquidity to meet the Company's obligations as they
become due for a reasonable period of time, and allow the
development of its core business. The plan includes:

     * Gaining positive cash-inflow from operating activities
through continuous cost reductions and the sales of higher margin
products.

     * Raising cash through loans from related parties and
potential equity offerings.

While the Company's management believes that the measures in its
liquidity plan including those described above will be adequate to
satisfy its liquidity requirements for the twelve months after the
date that these financial statements are issued, there is no
assurance that the liquidity plan will be successfully implemented.
Failure to successfully implement the liquidity plan may have a
material adverse effect on the Company's business, results of
operations and financial position, and may adversely affect its
ability to continue as a going concern.

As of June 30, 2024, the Company had $5,507,970 in total assets,
$7,961,216 in total liabilities, and $2,453,246 in total
stockholders' deficit.

A full-text copy of the Company's Form 10-Q is available at:

                   https://tinyurl.com/bdde66dz

                  About AiXin Life International

Sichuan Province, China-based AiXin Life International, Inc. is a
Colorado holding company and conducts substantially all of its
operations through its operating companies established in the
People's Republic of China, or the PRC. The Company focuses on
providing health and wellness products to the growing middle class
in China. It currently develops, manufactures, markets, and sells
premium-quality healthcare, nutritional products, and wellness
supplements, including herbs and greens, traditional Chinese
remedies, functional products such as weight management products,
probiotics, foods, and drinks. The Company also provides
advertising and marketing services to clients who engage us to
market and distribute their products.

Diamond Bar, California-based KCCW Accountancy Corp., the Company's
auditor since 2019, issued a "going concern" qualification in its
report dated April 5, 2024, citing that the Company incurred
recurring losses from operations and has an accumulated deficit,
which raises substantial doubt about its ability to continue as a
going concern.

HYWIN WEALTH: China Probes US$1.2BB Wealth Firm Over Fundraising
----------------------------------------------------------------
Bloomberg News reports that China has opened a criminal
investigation into Hywin Wealth Management Co. for alleged
involvement in illegal fundraising, with "coercive measures" taken
against multiple suspects at the firm, according to Shanghai
police.

Bloomberg relates that the police didn't specify on the measures in
a statement that it released, but in China, "criminal coercive
measures" could typically take the form of seizure or detention.
The probe into Hywin, once the nation's largest distributor of real
estate wealth management products, comes nine months after it
pledged to address delayed payments on some investment offerings it
had distributed.

According to Bloomberg, the suspects include two people both
surnamed Han and one surnamed Wang, the statement said. The police
said it's "collecting evidence at all fronts and pushing forward
the investigation to recover losses and protect investors'
interests to the maximum."

Talk on delayed payments on investment offerings distributed by
Hywin surfaced in December last year, sinking the shares of its
US-listed entity Hywin Holdings Ltd., which changed its name to
Santech Holdings Ltd. earlier this year and severed its ties with
Hywin Wealth, Bloomberg relays.

Bloomberg relates that Santech also said in late June that Hywin
Wealth will be owned by Han Hongwei who plans to resolve ongoing
redemption issues for its Chinese clients. The Shanghai-based firm,
established in 2006, had more than 152,000 clients and CNY8.5
billion (US$1.2 billion) of assets under management as of June last
year.

Bloomberg says Hywin Wealth had pledged to address the issue and
come up with a treatment plan before the end of last year, but
announced in January that it was undergoing a review of its assets
and that it needs to restructure debt to "rescue itself."

While it's unclear how much of investor money is involved in the
case, it's another sign that China's property crisis, now on its
fourth year, is hurting the nation's middle class families. Hywin
had worked with developers such as China Evergrande Group and Sunac
China Holdings Ltd. according to its listing prospectus.

Hywin Wealth Management provides wealth management services.  


SINO-OCEAN GROUP: Gets 12-Day Reprieve on Liquidation in Hong Kong
------------------------------------------------------------------
South China Morning Post reports that defaulted Chinese developer
Sino-Ocean Group will have more time to build support for a
restructuring proposal after the Hong Kong High Court on Sept. 11
adjourned a winding-up hearing against the company for 12 days.

According to the Post, Justice Jack Wong on Sept. 11 adjourned the
case to September 23, as the developer works to get creditors on
board with the restructuring proposal for US$5.6 billion in debt
that it presented in July.

The Post relates that Sino-Ocean Group on Sept. 10 announced in an
exchange filing that more than 75 per cent of its loan creditors
have agreed to the restructuring plan. The company did not disclose
the consent rate among bondholders, which account for some 55 per
cent of the debt.
The 75 per cent assent could clear the way for a UK court to become
the next battleground for mounting tension between the company and
a group of its major creditors. The hearing on Sept. 11 in Hong
Kong was the first since the Bank of New York Mellon's London
branch, a trustee for bondholders, filed a liquidation petition in
June for US$400 million in debt and accrued interest, according to
the Post.

Beijing-based Sino-Ocean in July unveiled its overdue workout after
it defaulted nearly a year ago. Under the proposal, creditors are
grouped into four classes, with loan creditors in one class and
bondholders classified into three classes.

The proposal provides creditors with options such as US$2.2 billion
of new debt linked to offshore assets, or exchanging debt for
mandatory convertible bonds or new perpetual securities, according
to an exchange filing cited by the Post.

Divergence of opinions among the different creditor groups has
weighed on the restructuring process. A key group, which owns more
than 25 per cent of the group's defaulted dollar-denominated bonds,
was opposed to the restructuring plan, citing an estimated 63 per
cent average haircut, the Post reported earlier.

That group filed a counter proposal, suggesting options such as
more new equity issuance, shorter tenors, reduced haircuts and
credit enhancement support from major stakeholders, according to a
person with direct knowledge of the matter, the Post relays.

Another group of investors may join the petitioner in legal action
against the developer, the person said.

                       About Sino-Ocean Group

Sino-Ocean Group Holding Limited, formerly Sino-Ocean Land Holdings
Limited, is an investment holding company principally engaged in
property development and property investment in the People's
Republic of China (the PRC). The Company is engaged in property
development in Beijing-Tianjin-Hebei, Northeast, Central and
Southern.  

As reported in the Troubled Company Reporter-Asia Pacific on Sept.
19, 2023, Moody's Investors Service has downgraded Sino-Ocean Group
Holding Limited's corporate family rating to Ca from Caa2. At the
same time, Moody's has downgraded to C from Caa3, the backed senior
unsecured ratings on the bonds issued by Sino-Ocean Land Treasure
Finance I Limited, Sino-Ocean Land Treasure Finance II Limited, and
Sino-Ocean Land Treasure IV Limited and guaranteed by Sino-Ocean.
The outlook remains negative.


SUNAC CHINA: Unveils Plans to Overhaul Local Debt
-------------------------------------------------
Bloomberg News reports that two major Chinese developers are moving
closer to unveiling plans to overhaul their local debt, as
defaulters shift their restructuring focus from global creditors.

Representatives of Sunac China Holdings Ltd. and Logan Group Co.
told creditors in recent days that they aim to finalize and present
their debt proposals covering local bonds and loans in the coming
months, according to people familiar with the matter, Bloomberg
relays.

Bloomberg relates that the two firms' plans look similar in
structure, including options such as maturity extensions and
issuance of new debt of a reduced size to replace existing
borrowings, said the people who requested anonymity discussing
private matters.

Sunac, which became the first major Chinese builder to reorganize
its offshore debt late last year, is looking to deliver its
proposal for domestic creditors as early as in December, the
people, as cited by Bloomberg, added.

Bloomberg relates that the emergence of the developers' onshore
debt plans would mark progress in a sector where restructuring
efforts have so far concentrated on overseas bondholders and
lenders, who have increasingly taken Chinese defaulters to court in
Hong Kong. Local creditors of distressed firms, in contrast, have
been subject to piecemeal solutions such as constant payment delays
that offer less transparency, certainty and enforceability.

"As the value of these builders' assets has plummeted, there needs
to be a reduction or discount on the debt side for the companies to
have restructuring value," Bloomberg quotes Huan Li, co-founder of
Forest Capital Hong Kong Ltd, as saying. "Once a restructuring plan
is in place, the company can focus more on delivering delayed
housing projects and may survive."

Sunac and Logan are working with domestic investment banks to draw
up the debt blueprints, the people said, adding that details of the
proposals have yet to be finalized, Bloomberg relays. If approved
by creditors, the proposed restructuring would replace the bond
maturity extension plans unveiled by the two firms about two years
ago, they added.

Since China's property crisis began three years ago, China Fortune
Land Development Co. is the only defaulter that has unveiled a
holistic local debt restructuring blueprint.

"Such holistic onshore restructuring helps resolve builders' debt
problems and development in a more systemic and efficient way,"
said Willam Zhang, partner at Merits & Tree Law Offices. "It would
also help restore confidence in developers by removing
irregularities and making the future more predictable for
creditors."

                         About Sunac China

Sunac China Holdings Limited (SEHK:1918) --
http://www.sunac.com.cn/-- engages in the sales of properties in
the People's Republic of China. The Company operates its business
through two segments: Property Development and Property Management
and Others. The Company's subsidiaries include Sunac Real Estate
Investment Holdings Ltd., Qiwei Real Estate Investment Holdings
Ltd. and Yingzi Real Estate Investment Holdings Ltd.

Sunac is among a string of Chinese property developers that have
defaulted on their offshore debt payment obligations since the
sector was hit by a liquidity crisis in 2021, roiling global
markets, according to Reuters.

Creditors of Sunac China Ltd have approved its $9 billion offshore
debt restructuring plan, the company said on Sept. 18, marking the
first approval of such debt overhaul by a major Chinese property
developer.

As reported in the Troubled Company Reporter-Asia Pacific on Sept.
21, 2023, Sunac China Holdings Limited sought creditor protection
in the United States under Chapter 15 of the Bankruptcy Code
(Bankr. S.D.N.Y. Case No. 23-11505) on Sept. 19.

U.S. Bankruptcy Judge Philip Bentley presides over the Chapter 15
proceedings.

Sidley Austin is the Legal Counsel to China Sunac.




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

AADHAR SECURITIES: Voluntary Liquidation Process Case Summary
-------------------------------------------------------------
Debtor: Aadhar Securities Private Limited
        32, First Floor, Community Centre
        New Friends Colony
        New Delhi - 110065, India

Liquidation Commencement Date: August 26, 2024

Court: National Company Law Tribunal, New Delhi Bench

Liquidator: Rabindra Kumar Mintri
            JD-18-B, Near Ashiana Chowk,
            Pitampura, New Delhi-110034
            Email Id: vlaadhar2024@gmail.com
            Telephone No: +91 98111 73846

Last date for
submission of claims: September 25, 2024


AAISHNI PHARMACEUTICALS: Liquidation Process Case Summary
---------------------------------------------------------
Debtor: Aaishni Pharmaceuticals Private Limited
        3- Aashirwad, 51- Vallabh Nagar N S Road No -2,
        JVPD, VileParle West, Mumbai City,
        Mumbai, Maharashtra, India, 400056

Liquidation Commencement Date: August 22, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Kshitiz Gupta
            F-52, First Floor, Centrium Mall,
            Lokhandwala Township, Kandivali
            East, Mumbai - 400101
            Email: kshitiz.ca@gmail.com
            Email: cirp.aaishnipharma@gmail.com

Last date for
submission of claims: September 27, 2024


ABHIJEET TOLL: Voluntary Liquidation Process Case Summary
---------------------------------------------------------
Debtor: Abhijeet Toll Road (Karnataka) Limited
        FE-83, Sector-III, Salt Lake City,
        Ground Floor, Kolkata,
        West Bengal, India 700106

Liquidation Commencement Date: August 13, 2024

Court: National Company Law Tribunal,

Liquidator: Sunil Choraria
            P-41, Princep Street, Room No. 222,
            Kolkata 700072, West Bengal
            Email: chorariamba@rediffmail.com
            Email: cirp.abhijeettoll@outlook.com

Last date for
submission of claims: September 15, 2024


AEGIS MEDICINES: Liquidation Process Case Summary
-------------------------------------------------
Debtor: Aegis Medicines Private Limited
        Registered Office:
        A-502 Kumar Gulmohar CTS No. 1436,
        Survey No. 70A/1/2/2B
        Wanowrie Pune 411040, Maharashtra

        Principal Office:
        Plot No. C-90 MIDC, Waluj Aurangabad Maharashtra,
        India, 431136

Insolvency Commencement Date: August 29, 2024

Court: National Company Law Tribunal Mumbai Bench-II

Liquidator: Mr. Mukesh Khathuria
     6B/1105, Sapphire Heights Lokhandawala Township,
            Akurli Road, Kandivali East,
            Mumbai Suburban, Maharashtra - 400101
     Email: khathuria@hotmail.com
            Email: liquidator.aegis@gmail.com

Last date for
submission of claims: September 28, 2024


AKSA PAPER: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: AKSA Paper Mills Private Limited
        Survey no. 334/PI, 315/6,
        Morai Industrial Park,
        Village-Morai, Ta, I-Pardi,
        Valsad, Vapi, Gujarat, India 396191

Insolvency Commencement Date: August 28, 2024

Court: National Company Law Tribunal, Ahmedabad Bench

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

Insolvency professional: Sunil Kumar Kabra

Interim Resolution
Professional: Sunil Kumar Kabra
              3rd Floor, Reegus Business Centre
              New Citylight Road
              Above Mercedes Benz Showroom
              Bharthana-Vesu, Surat 395007
              Email: jlnusco@gmail.com
              Email: ip.apmpl@gmail.com

Last date for
submission of claims: September 12, 2024


AMTEK AUTO: ED Attaches Group's Assets Worth INR5,000 crore
-----------------------------------------------------------
The Indian Express reports that weeks after arresting Amtek Group
promoter Arvind Dham in a bank loan fraud case, the Enforcement
Directorate (ED) has attached farm houses, hundreds of acres of
agricultural and industrial lands across states and shares and
debentures worth more than INR5,000 against an insolvent automotive
equipment manufacturing company.

Dham was arrested in July during a probe following FIRs registered
by CBI after receiving complaints from the IDBI Bank and the Bank
of Maharashtra, alleging of illegally diverting bank loans by
causing wrongful loss to the banks, the Indian Express recalls.

"The SC on February 27 while hearing the PIL against M/s Amtek Auto
group of companies, directed ED to investigate the case involving
bank fraud by Amtek Auto Group to the tune of INR27,000 crore. The
Hon'ble Court expressed concerns regarding the diversion of public
money, emphasising the necessity of a comprehensive investigation
by the ED, even if the banks concerned had settled the accounts,"
ED said in a statement on Sept. 7, the Indian Express relays.

"Investigation has revealed that the financial statements of the
group companies were deceitfully manipulated to obtain additional
fraudulent loans and create bogus assets and investments in the
books of accounts. The agency had undertaken searches in this case
in June that led to the unearthing of a complex web of more than
500 shell companies deployed or used by the group to hold and
invest in high value real estate and luxury properties, whose
shareholdings were concealed in a highly complex shareholding
structure," said ED.

The Indian Express relates that the ED said these shell companies
were holding assets, whose beneficial ownership has been revealed
to be with Arvind Dham, the main promoter and beneficial owner of
the Amtek group of companies.

"The assets attached as part of a provisional order issued under
the PMLA include 85 immovable properties valued at INR2,674.75
crore, spread across 13 different states in India. These include
large commercial properties and farm houses at prime locations in
Delhi, 200 hectares of land in Maharashtra, hundreds of acres of
land in Haryana and Punjab, industrial lands, agricultural lands,
residential plotted colonies, flats etc," said ED.

                          About Amtek Auto

Based in India, Amtek Auto Limited engages in automotive components
manufacturing and commercial sales. The Company is engaged in
forging, grey and ductile iron casting, gravity and high pressure
aluminum die casting and machining and sub-assembly. It has a
product portfolio with a range of engineered components, including
flywheel ring gears, machining, forging, casting aluminum and
casting iron. The Company supplies components for passenger cars,
light and heavy commercial vehicles, 2/3 wheelers, light weight
commercial vehicles and heavy weight commercial vehicles. The
Company has facilities across India, the United Kingdom, Germany,
Brazil, Italy, Mexico, Hungary and the United States. The Company
also manufactures components for non-auto sectors, such as the
railways, specialty vehicles, aerospace, agricultural and heavy
earth moving equipment.

In July 2017, NCLT had admitted insolvency proceedings for Amtek
Auto initiated by a consortium of banks led by Corporation Bank.

Venkatsubramanian was appointed by the Committee of Creditors as
the resolution professional for the case in August 2017.

Amtek was featured on the first list of 12 companies that were
referred by the RBI for initiating insolvency process in 2017.

On July 2020, the National Company Law Tribunal (NCLT) approved the
resolution plan for Amtek Auto, submitted by US-based hedge fund
Deccan Value Investors LP (DVIL).


ARKCOM TELECOMMUNICATIONS: Liquidation Process Case Summary
-----------------------------------------------------------
Debtor: Arkcom Telecommunications Private Limited
212/A, C Wing Kailash Industrial Complex
        Hiranandani Link Road,
        Mumbai City, Mumbai
        Maharashtra, India, 400079

Insolvency Commencement Date: August 29, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: Pramod Kumar Dokania
     T54-1101 Flat No. 1101,
            Tower 54, Future Towers,
            Sector R-11, Amanora Park Town,
            Hadapsar, Pune - 411028, Maharashtra
            Email: pramoddokania123@gmail.com
            Email: liquidation.arkcomtel@gmail.com

Last date for
submission of claims: October 5, 2024


B.D KATARIA & CO: Voluntary Liquidation Process Case Summary
------------------------------------------------------------
Debtor: B.D Kataria & Co. (Maritime) Private Limited
        414 Vithaldas Chambers
        16 Bombay Samachar Marg
        Mumbai Maharashtra 400023 India

Liquidation Commencement Date: August 19, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Sunita Umesh
            1315, Ansal Tower, 38,
            Nehru Place New Delhi 110019
            Email: sunita.umesh@uccglobal.in
            Tel: 9810266702

Last date for
submission of claims: September 24, 2024


BHADRAGIRI POWER: Liquidation Process Case Summary
--------------------------------------------------
Debtor: Bhadragiri Power Private Limited
        83, Venkatadri Complex, 2nd Floor,
        Richmond Road, Bangalore,
        Karnataka-560025

Liquidation Commencement Date: August 23, 2024

Court: National Company Law Tribunal, Bangalore Bench

Liquidator: Vishal Ghisulal Jain
            D-1902, Palm Beach Residency,
            Amey CHS Ltd.,
            Plot No. 24-29, Sector-4,
            Nerul (West),
            Navi Mumbai, Maharashtra-400706
            Email: vishal@resolvegroup.co.in

            -- and --

            c/o. Resolve-IPE Private Limited,
            Office No. V-3073, Akshar Business Park,
            Sector-25, Vashi, Navi Mumbai-400705
            Email: bhadragiri@resolvegroup.co.in

Last date for
submission of claims: September 22, 2024


C. R. JEWELLERY: CRISIL Keeps D Debt Rating in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of C. R.
Jewellery (CRJ) continues to be 'CRISIL D Issuer Not Cooperating'.

                       Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            12        CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with CRJ for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Established in 2000, CRJ is a partnership firm promoted by Mr.
Anandmal Challani and his family members. The firm manufactures and
trades in silver jewellery, mainly on a wholesale basis; it also
trades in bullion on a retail basis.


C.L. GULHATI: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of C.L. Gulhati
and Sons Limited (CLG) continue to be 'CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            25         CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term      0.2       CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with CLG for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

CLG was set up as private limited company in 1956 by Mr. C L
Gulhati and his associates. It became a public limited company.
Since its inception, CLG has been a dealer for the entire range of
TML's CVs. It became a dealer of TML's passenger vehicles in 2000.


CALL EXPRESS: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Call Express
Construction India Private Limited (CECPL) continue to be 'CRISIL D
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Long Term Loan         50         CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Term Loan      5         CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with CECPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in 2006, CECPL is into developing residential real estate
project at Chennai. The company is promoted by Mr. Ramesh and his
family.


CHADALAVADA INFRATECH: CRISIL Keeps D Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Chadalavada
Infratech Limited (CIL) continue to be 'CRISIL D/CRISIL D Issuer
Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Bank Guarantee        93          CRISIL D (Issuer Not
                                     Cooperating)

   Cash Credit           22          CRISIL D (Issuer Not
                                     Cooperating)

   Long Term Loan        55.27       CRISIL D (Issuer Not
                                     Cooperating)

   Long Term Loan         9.73       CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with CIL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Chadalavada Infratech Ltd. (erstwhile Chadalavada Construction Pvt.
Ltd.) was incorporated in February 2000 and started as a
subcontractor to L&T. The company is engaged in Electrical
Transmission & Distribution Infrastructure Industry involving
Engineering, Procurement and Commissioning of sub-stations and
Electrical Transmission lines. The company undertakes activities
mostly for government departments.


CITY CENTRE: CRISIL Keeps B Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of City Centre -
Tezpur (CCT) continue to be 'CRISIL B/Stable Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            4.5        CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Long Term Loan         0.9        CRISIL B/Stable (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with CCT for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'

Detailed Rationale

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

CCT was set up in 1985 at Tezpur by the proprietor, Mr Manoj
Dudheria. The firm undertakes dealership of bathroom fittings,
sanitary ware, tiles and marbles. It is also the sole dealer of
brands such as Hindware, Somani Tiles, Finolex, and Crompton pumps
in Tezpur, Assam. It distributes products from 25-30 brands.


CLARA SWAIN: CRISIL Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Clara Swain
Hospital J.V. (CSH) continues to be 'CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Term Loan              7.5        CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with CSH for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Clara Swain Hospital (CSH), based in Bareilly (Uttar Pradesh) was
set up in the early 1870s by Dr Clara Swain. In 2009, the Ritam
Charitable & Education Society and Methodist Church of India
entered into a joint venture (JV) agreement for running its
operations. Currently it is operating a super-specialty hospital
with a 150-bed and a nursing collage, in Bareilly.


CLAYRIS CERAMICS: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Clayris
Ceramics Private Limited (CCPL) continue to be 'CRISIL D/CRISIL D
Issuer Not Cooperating'.

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

   Bank Guarantee         1.5        CRISIL D (Issuer Not
                                     Cooperating)

   Cash Credit           10          CRISIL D (Issuer Not
                                     Cooperating)

   Letter of Credit       2          CRISIL D (Issuer Not
                                     Cooperating)

   Long Term Loan        28.36       CRISIL D (Issuer Not
                                     Cooperating)

   Proposed Long Term     0.36       CRISIL D (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with CCPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in 2008 by Mr. Divyesh Patel and family, Morbi-based CCPL
manufactures ceramic tiles.


CLUSTER JEWELLERY: CRISIL Keeps B Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Cluster
Jewellery Limited (Cluster) continue to be 'CRISIL B/Stable Issuer
Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit           4.65        CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Proposed Long Term    7.15        CRISIL B/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with Cluster for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Cluster was incorporated in 2005 by Mr. Mahendra Kumar Shah. The
company manufactures and sells gem-studded gold jewellery to
retailers and has a retail outlet in Ahmedabad (Gujarat).


COSMOS BUSINESS: CRISIL Keeps B+ Debt Rating in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Cosmos
Business Machines (CBM, part of Cosmos Group) continues to be
'CRISIL B+/Stable Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            4          CRISIL B+/Stable (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with CBM for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

                          About the Group

CBM, established in 1994, is a partnership firm engaged in
distribution, installation, and maintenance of telecom, security,
and audio-visual systems for corporates, government organisations,
and multinational corporations.

CBMPL, established in 2004, is a super distributor for the complete
range of telecom and security products of Panasonic India in Goa,
Maharashtra, Gujarat and Madhya Pradesh.

The group is promoted and managed by Mr. Aniruddha Telang and Mr.
Vivek Birje and is based in Mumbai.


DAKSHA PROPERTY: CRISIL Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Sree Daksha
Property Developers India Private Limited (SDPDIPL) continue to be
'CRISIL D Issuer Not Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Proposed Long Term     10.25       CRISIL D (Issuer Not
   Bank Loan Facility                 Cooperating)

   Term Loan               4.75       CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with SDPDIPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

SDPD, set up in 2010 and based in Coimbatore, is a real estate
developer. Its operations are managed by the promoter, Mr R Mohan.
The Company currently has 6 ongoing projects.


ECOPHOS GNFC: Liquidation Process Case Summary
----------------------------------------------
Debtor: Ecophos GNFC India Private Limited
        P.O. Narmadanagar, Bharuch,
        Gujarat, India - 392015

Liquidation Commencement Date: August 9, 2024

Court: National Company Law Tribunal, Ahmedabad Bench

Liquidator: Anil Kumar Satyanarayan Agarwal
            301-302, Vraj Bhumi Complex,
            Nr. Prarthana Flat, B/ H, Shilp, Bldg,
            Off C G Road, Navrangpura,
            Ahmadabad, Gujarat, 380009
            Email: caanilagarwal1995@gmail.com

Last date for
submission of claims: September 5, 2024


ENERGETIC GLOBETEX: CRISIL Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Energetic
Globetex Private Limited (EGPL) continues to be 'CRISIL D Issuer
Not Cooperating'.

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

CRISIL Ratings has been consistently following up with EGPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

EGPL, incorporated in 2015, manufactures sarees and ladies' dress
material in Surat and is promoted by Mr Juneja and Mr Nikunj
Kapadia.


FORD CREDIT: Voluntary Liquidation Process Case Summary
-------------------------------------------------------
Debtor: Ford Credit India Private Limited
Urban Square. 3rd Floor, S.F.
        No.-278/3A & 9A, VOC Street,
        Gandhi Nagar, OMR, Kottivakkam,
        Chennai, Tamil Nadu-600041

Insolvency Commencement Date: September 4, 2024

Court: National Company Law Tribunal New Delhi Bench

Liquidator: Arun Gupta
     S-34, LGF, Greater Kailash-II, New Delhi-110048
            Email: arungupta2211@gmail.com
            Email: fordcredit.vol.liq@gmail.com
            Tel No: 011-41066313

Last date for
submission of claims: October 4, 2024


GANGA KNIT: CRISIL Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Ganga Knit
Private Limited (GKPL) continues to be 'CRISIL D Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            14         CRISIL D (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with GKPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Incorporated in 1996, GKPL trades in various types of yarns such as
cotton, polyester, acrylic, and viscose. The company caters to
various local fabric manufacturers in Ludhiana (Punjab). Promoters,
Mr. Ashok Kumar Ahuja and Mr. Gulshan Kumar Ahuja look after its
operations.


GNI INFRASTRUCTURE: CRISIL Keeps B+ Rating in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of GNI
Infrastructure Private Limited (GIPL) continues to be 'CRISIL
B+/Stable Issuer Not Cooperating'.

                         Amount
   Facilities         (INR Crore)    Ratings
   ----------         -----------    -------
   Drop Line               17        CRISIL B+/Stable (Issuer Not
   Overdraft Facility                Cooperating)

CRISIL Ratings has been consistently following up with GIPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Incorporated in 1985, GIPL undertakes contracts in building roads,
dams, canals and buildings for various government departments in
Maharashtra. GIPL also trades in bitumen and operates a fuel
station. The company, promoted by Bindra family of Aurangabad has
its registered office in Aurangabad Maharashtra).


GOLDEN WEALTH: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: Golden Wealth Advisory Private Limited
        213, Floor-1, Plot-407 Doulat Bhuvan,
        Kalbadevi Road, Kolbhat Lane, Kalbadevi,
        Mumbai, Maharashtra, India 400002

Insolvency Commencement Date: August 29, 2024

Court: National Company Law Tribunal, Mumbai Bench

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

Insolvency professional: Keyur Jagdishbhai Shah

Interim Resolution
Professional: Keyur Jagdishbhai Shah
              1007, Sun Avenue One, Bhudarpura,
              Ayojannagar, Manekbaug,
              Ahmadabad, Gujarat 380015
              Email: cs.keyurshah@gmail.com
              Email: cirp.goldenwealth@gmail.com

Last date for
submission of claims: September 12, 2024


GOVINDAM PROJECTS: CRISIL Keeps B Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Govindam
Projects Private Limited (GPPL) continue to be 'CRISIL B/Stable
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            9          CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Proposed Long Term     3          CRISIL B/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with GPPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

GPPL was set up in 2003 by Mr. Pradip Khemka along with his four
friends, Mr. Sashi Choudhury, Mr. Uday Rajgaria, Mr. Hanuman
Agarwal, and Mr. Binod Agarwal in Sundergarh (Odisha). The company
manufactures sponge iron at its two kilns with capacity of 100
tonnes per day each; the capacity utilisation is around 53 per
cent.


GREEN VALLEY: Voluntary Liquidation Process Case Summary
--------------------------------------------------------
Debtor: Green Valley Energy Ventures Private Limited
        19A/B, Muktaram Babu Street,
        3rd Flood, Kolkata,
        West Bengal, India 700007

Liquidation Commencement Date: August 27, 2024

Court: National Company Law Tribunal, Kolkata Bench

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

Last date for
submission of claims: September 26, 2024


HELIX INVESTMENTS: Voluntary Liquidation Process Case Summary
-------------------------------------------------------------
Debtor: Helix Investments Advisors India Private Limited
        Anjali Apartment #101,
        Shivaji Nagar Road, Vakola,
        Santacruz East, Mumbai,
        Maharashtra, India - 400054

Liquidation Commencement Date: August 25, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Umesh Lakhani
            Bathiya & Associates LLP
            910, Hubtown Solaris,
            N.S. Phadke Road,
            Near East West Flyover,
            Mumbai, Maharashtra 400069
            Email: umeshlakhani7170@gmail.com

Last date for
submission of claims: September 24, 2024


HI-TECH GEARS: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: The Hi-Tech Gears Limited
        Plot No. 24, 25, 26, Sector-7,
        IMT Manesar, Gurgaon, Manesar,
        Haryana, India 122050

Insolvency Commencement Date: August 30, 2024

Court: National Company Law Tribunal, Chandigarh Bench

Estimated date of closure of
insolvency resolution process: February 26, 2025

Insolvency professional: Deepak Thukral

Interim Resolution
Professional: Deepak Thukral
              H. No. 237/1, 44-A, Chandigarh,
              Haryana & Punjab 160047
              Email: deepakthukral1@gmail.com

              -- and --

              SCO-818, 2nd Floor, NAC Manimajra
              Chandigarh 160101
              Email: cirp.hitechgears@gmail.com
              Mobile: 91-7719402001

Last date for
submission of claims: September 13, 2024


HIGHLAND BUILDING: First Creditors' Meeting Set for Sept. 17
------------------------------------------------------------
A first meeting of the creditors in the proceedings of Highland
Building Pty Ltd will be held on Sept. 17, 2024 at 10:30 a.m. via
teleconference.

Richard Albarran and Kathleen Vouris of Hall Chadwick were
appointed as administrators of the company on Sept. 6, 2024.


INNOVATIVE WATER: Voluntary Liquidation Process Case Summary
------------------------------------------------------------
Debtor: Innovative Water Care India Private Limited
        NPV House, D Wing,
        Chanakya Mahavir Nagar Link Road,
        Kandivali (West) , Mumbai,
        Maharashtra, India - 400067

Liquidation Commencement Date: August 28, 2024

Court: National Company Law Tribunal, New Delhi Bench

Liquidator: Kamall Ahuja
            D-251, Basement Defence Colony
            New Delhi 110024
            Email: iwcliquidation@gmail.com
            Tel: 001146013134

Last date for
submission of claims: September 27, 2024


JEE CELEBRATIONS: CRISIL Keeps B+ Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Shree Jee
Celebrations Private Limited (SJCPL) continue to be 'CRISIL
B+/Stable Issuer Not Cooperating'.

                        Amount
   Facilities         (INR Crore)    Ratings
   ----------         -----------    -------
   Proposed Long Term     0.21       CRISIL B+/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan              8.79       CRISIL B+/Stable (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with SJCPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

SJCPL, incorporated in 2012, operates a hotel and a restaurant in
Sonepat. Mr Radhey Shyam Gupta and family are the promoters.


KGEPL ENGINEERING: Liquidation Process Case Summary
---------------------------------------------------
Debtor: KGEPL Engineering Solutions Pvt Ltd
        S No. 49 Industry House
        Opp Kalyani Steels Ltd.
        Mundhwa, Pune 411036 India

Liquidation Commencement Date: August 7, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Rajesh Ramesh Kamath
            301 A Wing Green Gagan
            Near Lokhandwala, Akuri Road Kandivali East
            Mumbai Suburban, Maharashtra 400101
            Email: iprrkamath@gmail.com

            -- and --

            Shop 76, Whispering Palms Shopping Center
            Lokhandwala, Akurli Road,
            Kandivali East, Mumbai 400101
            Email: cirp.kgepl@gmail.com

Last date for
submission of claims: September 19, 2024


KINGSTON PAPTECH: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: Kingston Paptech Private Limited
        A/904, 9th Floor
        Solitaire Corporate Park
        Nr. YMCA Club
        S.G. Highway, Ahmedabad
        Agmedabad, Gujarat, India 380054

Insolvency Commencement Date: August 29, 2024

Court: National Company Law Tribunal, Ahmedabad Bench

Estimated date of closure of
insolvency resolution process: February 26, 2025

Insolvency professional: Vinod Tarachand Agrawal

Interim Resolution
Professional: Vinod Tarachand Agrawal
              VCAN Resolve IPE LLP
              204, Wall Street - 1, Nr Gujarat College
              Ellis Bridge, Ahmedabad 380006
              Email: ca.vinod@gmail.com
              Email: cirp.kingston@gmail.com

Last date for
submission of claims: September 12, 2024


KISHORI INDUSTRIES: CRISIL Keeps B+ Debt Rating in Not Cooperating
------------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Kishori
Industries (KI) continues to be 'CRISIL B+/Stable Issuer Not
Cooperating'.

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

CRISIL Ratings has been consistently following up with KI for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Established in 2003 as a partnership firm by Mr Sharad Sarda and Mr
Rameshlal Sarda, KI gins and presses cotton and extracts cotton
seed oil at its unit in Beed.


LAKSHMI NARASIMHA: CRISIL Keeps B+ Debt Rating in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Lakshmi
Narasimha Traders - Nellore (LNTN) continues to be 'CRISIL
B+/Stable Issuer Not Cooperating'.

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

CRISIL Ratings has been consistently following up with LNTN for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in 2002 as a partnership firm Lakshmi Narasimha
Traders-Nellore (LNTN) is engaged in milling and processing of
paddy into rice, rice bran, broken rice and husk. It has an
installed paddy milling capacity of 3 tons per hour. Its rice mill
is located in Nellore (Andhra Pradesh). The firm is promoted by Mr.
Y Ranga Rao.


LAKSHMI NARAYANA: CRISIL Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Lakshmi
Narayana Enterprises (LNE) continue to be 'CRISIL B/Stable Issuer
Not Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Cash Credit            6.1       CRISIL B/Stable (Issuer Not
                                    Cooperating)

   Proposed Long Term     3.9       CRISIL B/Stable (Issuer Not
   Bank Loan Facility               Cooperating)

CRISIL Ratings has been consistently following up with LNE for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in 1987 in Guntur, Andhra Pradesh, as a proprietorship firm
by Mr Sambi Reddy, LNE has a raw cotton ginning and pressing
capacity of 1000 quintals per day. LNE processes raw cotton
(kappas) into cotton bales and cotton seeds for sale in Andhra
Pradesh and North India.


LAMINEX: CRISIL Keeps B+ Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Laminex
continue to be 'CRISIL B+/Stable Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit             7         CRISIL B+/Stable (Issuer Not
                                     Cooperating)

   Cash Term Loan          3         CRISIL B+/Stable (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with Laminex for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Formed in 1994, Laminex is a partnership firm based in Goa and
managed by Mr. Parag Joshi (managing partner). It engages in
manufacturing and supplying PP (polypropylene) bags and PP woven
sacks.


LIFELINE MULTI: CRISIL Moves B+ Debt Rating from Not Cooperating
----------------------------------------------------------------
Due to inadequate information and in line with Securities and
Exchange Board of India guidelines, CRISIL Ratings had migrated its
rating on the long-term bank facilities of Lifeline Multispeciality
Hospital and Paramedical Institute (LMHPI) to 'CRISIL B+/Stable
Issuer Not Cooperating'. However, the management has subsequently
started sharing requisite information for carrying out a
comprehensive review of the rating. Consequently, CRISIL Ratings
has migrated its rating on the long-term bank facilities of LMHPI
to 'CRISIL B+/Stable'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit             1         CRISIL B+/Stable (Migrated
                                     from 'CRISIL B+/Stable
                                     ISSUER NOT COOPERATING')

   Term Loan              29         CRISIL B+/Stable (Migrated
                                     from 'CRISIL B+/Stable
                                     ISSUER NOT COOPERATING')

The rating reflects modest scale of operations and susceptibility
to intense competition. These weaknesses are partially offset by
the extensive experience of the partners in the healthcare
industry.

Analytical Approach

Unsecured loan (INR2.9 crore as on March 31, 2024) extended by the
partners has been treated as debt as it is a need-based fund.

Key Rating Drivers & Detailed Description

Weaknesses:

* Modest scale of operations: The proposed hospital (with 250 beds)
is scheduled to be operational from October 2024; this remains
monitorable. Revenue is estimated at around INR2.3 crore till July
2024 and expected at about INR15 crore for fiscal 2025. Revenue may
increase yet remain at modest levels over the medium term.

* Susceptibility to intense competition: Intense competition from
existing hospitals and upcoming players in the vicinity may
constrain the scalability, pricing power and profitability of the
firm.

Strength:

* Extensive experience of the partners: The key partner, Dr Jayanta
Bhattacharya, has more than two decades of experience in the
healthcare industry and has been associated with two hospitals at
West Bardhaman in West Bengal; his strong understanding of market
dynamics and healthy relations with patients should support they
business. The hospital is expected to witness adequate occupancy
post commencing operations

Liquidity: Stretched

The project loan has been sanctioned for INR39 crore, with a
proposed debt:equity ratio of 1.5:1. The partners are likely to
extend need-based funds (equity and unsecured loans) to meet
capital expenditure and working capital requirements. The proposed
working capital limit of INR1 crore should aid liquidity. Cash
accrual is projected at INR5 crore per annum, barely sufficient to
meet the yearly repayment obligation of INR4.5-5.0 crore over the
medium term.

Outlook: Stable

LMHPI should benefit from the extensive experience of its
partners.

Rating Sensitivity Factors

Upward factors

* Timely ramp up of operations and profitability, with expected
cash accrual above INR8 crore
* Improvement in the financial risk profile

Downward factors

* Significant delay in commencement of full operations
* Lower-than-expected cash accrual, resulting in debt service
coverage ratio below 1

LMHPI, a partnership firm set up in 2021, is setting up a
250-bedded multispecialty hospital of the same name at Asansol in
West Bengal, It specialises in cardiology, oncology and neurology.
Dr Jayanta Bhattacharyya and Ms Pom Banerjee are the partners.


LOGON INDIA: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Logon India
Infrastructure Private Limited (Logon) continue to be 'CRISIL
D/CRISIL D Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Bank Guarantee        3.11        CRISIL D (Issuer Not
                                     Cooperating)

   Secured Overdraft     2           CRISIL D (Issuer Not
   Facility                          Cooperating)

   Working Capital      14.03        CRISIL D (Issuer Not
   Term Loan                         Cooperating)

CRISIL Ratings has been consistently following up with Logon for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Established in 2011, LIIPL undertakes civil construction of
warehouses, residential projects, and roads for various
infrastructure companies on a sub-contract basis. The company is
promoted by Mr. Daljit Singh Chadda and Mr. P Swaminathan.


M-FAC SOLUTIONS: CRISIL Moves B Debt Ratings to Not Cooperating
---------------------------------------------------------------
CRISIL Ratings has migrated the rating on bank facilities of M-Fac
Solutions Private Limited (MFSPL) to 'CRISIL B/Stable Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Proposed Cash           4        CRISIL B/Stable (ISSUER NOT
   Credit Limit                     COOPERATING; Rating Migrated)

   Proposed Long Term      6        CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING; Rating Migrated)

CRISIL Ratings has been consistently following up with MFSPL for
obtaining NDS through letters/emails dated June 29, 2024, July 31,
2024 and August 31, 2024 among others, apart from telephonic
communication to seek the same. After non-receipt of NDS for 2
consecutive months, we also sent a letter dated August 23, 2024
reminding the issuer to share the NDS. However, the issuer has
remained non cooperative. CRISIL Ratings has also tried to reach
out to the lenders of MFSPL to confirm timely debt servicing during
these months, but awaits any feedback.

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

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive NDSs from MFSPL, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. Further, non-sharing of NDS by issuers may reflect
operational issues faced by issuers in some cases. On the other
hand, it may be a beginning of a general non-cooperation and may
extend to non-submission of other information.

CRISIL Ratings believes that rating action on MFSPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the rating on bank facilities of MFSPL
migrated to 'CRISIL B/Stable Issuer Not Cooperating'.

MFSPL was incorporated in year 2022. MFSPL is currently setting up
a plant to manufacture precast building products, compressed
interlocking bricks, glass fiber reinforced polymer (GFRP) rebars,
roto molded water tanks, sanitary ware, unplasticized polyvinyl
chloride (uPVC) extrusions etc in proximity to Neyveli, Tamil Nadu.
The plant is expected to be commissioned in December, 2023.

MFSPL is promoted by Mr. Amudhan Manimekalai Sowrirajan and Ms.
Thein Manimekalai Sowrirajan.


MAGNIFICO MINERAL: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Magnifico Mineral Private Limited
        Plot No. 25, DSII Shed,
        Sheme-II, Basement,
        Okhla Industrial Area, Phase II,
        Okhla Industrial Area,  South Delhi,
        New Delhi 110020, India

Insolvency Commencement Date: August 8, 2024

Court: National Company Law Tribunal, Principal Bench

Estimated date of closure of
insolvency resolution process: February 3, 2025

Insolvency professional: Anil Kohli

Interim Resolution
Professional: Anil Kohli
              ARCK Resolution Professionals LLP
              Flat No. 409, 4th Floor, Ansal Bhawan,
              16 Kasturba Gandhi Marg
              Connaught Place, new Delhi 110001
              Email: insolvency@arck.in
              Email: magnifico.ibc@outlook.com

Last date for
submission of claims: September 14, 2024


MITTAL LUMBER: Liquidation Process Case Summary
-----------------------------------------------
Debtor: Mittal Lumber Private Limited
74/1/31 Amar Colony,
        Rohtak Road, Nangloi
        New Delhi, India-110041

Insolvency Commencement Date: September 02, 2024

Court: National Company Law Tribunal New Delhi Bench-VI

Liquidator: Mr. Shaikh Nafis Anjum
     A-34 Lower Ground Floor, Vikas Puri, New Delhi 110018
            Email: sn.anjum123@gmail.com

            C-4, 2nd Floor, Central Market, Lajpat Nagar 2,
Delhi-110024
            Email: mittallumber.liquidation@gmail.com

Last date for
submission of claims: October 2, 2024


MURALI EXPORT: CRISIL Lowers Rating on INR2.5cr Loan to D
---------------------------------------------------------
CRISIL Ratings has downgraded its rating on the short-term bank
facilities of Murali Export House (MEH) to 'CRISIL D' from 'CRISIL
A4'.

                       Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bill Purchase          2         CRISIL D (Downgraded from
                                    'CRISIL A4')

   Packing Credit         2         CRISIL D (Downgraded from
                                    'CRISIL A4')

   Packing Credit         2         CRISIL D (Downgraded from
                                    'CRISIL A4')

   Proposed Packing       2.5       CRISIL D (Downgraded from
   Credit                           'CRISIL A4')

The downgrade reflects delays in servicing term debt obligation
because of weak liquidity. The firm has reported delays in the
repayment of debt obligation in the no default statement (NDS) for
August 2024, shared with CRISIL Ratings.

The rating reflects the firm's low profitability amid exposure to
risks related to intense competition and geographical concentration
in revenue. These weaknesses are partially offset by the extensive
experience of the proprietor in the chemical trading industry.

Key Rating Drivers & Detailed Description

Weakness:

* Delay in debt servicing: MEH has reported delays in repayment of
debt obligation in the NDS for August 2024.

* Modest scale of operations: The scale of operations remained
modest in fiscal 2023 with revenue at INR18 crore against INR15
crore in the previous fiscal. Profitability is average and
fluctuating owing to the trading nature of operations with
susceptibility to exposure to foreign currency. Its revenue is
expected to improve moderately with demand supported by growth in
the Bangladesh clothing and cement industries.

* Geographical concentration in revenue: Of the overall revenue,
90-95% is derived from exports to Bangladesh, exposing the firm to
geographical concentration risk. Despite strong relationships with
customers, changes in the demand-supply situation or political
scenario in the country may significantly impact revenue.

* Leveraged financial profile: The company's financial profile is
constrained by networth of around INR2 crore, gearing of 3 times
and total outside liabilities to tangible networth (TOLTNW) ratio
of 3.7 times as on March 31, 2023. The debt protection metrics are
moderate with interest coverage ratio of 1.22 times and net cash
accrual to adjusted debt ratio of 2% in fiscal 2023. The financial
profile is expected to remain leveraged with moderate improvement
in networth. The interest coverage ratio is expected to range
between 1.2 times and 1.3 times over the medium term.

Strength:

* Extensive experience of the proprietor: MEH has been trading in
commodities since 1992. The proprietorship exports commodities,
primarily caustic soda, acetic acid and bleaching powder to
Bangladesh. The firm maintains healthy relationships with around
150 customers and has been associated with Grasim Industries. The
extensive experience of the proprietor will continue to support the
business risk profile.

Liquidity: Poor

Liquidity is poor as reflected in delays in debt servicing.

Rating sensitivity factors

Upward factors:

* Track record of timely debt servicing for at least 90 days
* Significant improvement in liquidity with substantial improvement
in operating performance, restructuring of debt or equity infusion

MEH was established in 2014 as a proprietorship firm by Mr Shekhar
Mohan Saha. Prior to 2014, the firm was a partnership concern. MEH
trades in chemicals, such as caustic soda, bleaching powder, and
acetic acid. It also trades in materials required for the erection
of towers.


OCM INDIA: Voluntary Liquidation Process Case Summary
-----------------------------------------------------
Debtor: OCM India Opportunities ARC Management Private Limited
Level 7, B-Wing, The Capital Bandra Kurla Complex,
        Bandra (East),
        Mumbai City, Mumbai,
        Maharashtra, India, 400051

Insolvency Commencement Date: September 3, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: Mr. Dilipkumar Natvarlal Jagad
     803/804, Ashok Heights
            Opposite Saraswati Apartment,
            Nikalas Wadi Road,
            Near Bhuta School,
            Old Nagar X Road,
            Gundavali, Andheri East,
            Mumbai City Maharashtra - 400069
            Contact No: +91 9821142587
            Email: dilipjagad@hotmail.com
            Email: ocminda.volliqu@gmail.com

Last date for
submission of claims: October 10, 2024


PADMA LAXMI: CRISIL Keeps B Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Padma Laxmi
Sree Rice Mill Private Limited (PLSRMPL) continue to be 'CRISIL
B/Stable Issuer Not Cooperating'.

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

   Long Term Loan         6          CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Proposed Long Term     0.65       CRISIL B/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with PLSRMPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

PLSRMPL was incorporated in fiscal 2016, promoted by Mr. Sanjoy
Ghosh The company manufactures non-basmati rice in Bihar; it
markets its products under brand names Laxmi Bhog, Kasturi Gold,
and Kasturi Royal.


PAI KHOT INFRA: Liquidation Process Case Summary
------------------------------------------------
Debtor: Pai Khot Infra Private Limited
        Ground Floor, D S Residency Murida,
        Fatorda, South Goa, Margao,
        Goa, India 403602

Liquidation Commencement Date: August 18, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Sunil Kumar Agrawal
            E-205, LGF,
            Greater Kailash - II
            New Delhi 110048
            Email: aggarwalsk21@yahoo.com

            -- and --

            904, GF, Sector-7C, Faridabad 121006
            Email: liqpaikhot2024@gmail.com

Last date for
submission of claims: September 23, 2024


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

                       Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit          0.25        CRISIL D (Issuer Not
                                    Cooperating)

   Letter of Credit    13.75        CRISIL D (Issuer Not
                                    Cooperating)

   Letter of Credit     5.00        CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with PIPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

PIPL was incorporated in 2005 by Mr. Girish Aggarwal. The company
trades in tyres and mild steel products. The company is based in
Hyderabad, Andhra Pradesh.

PLANET PR: CRISIL Keeps D Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Planet PR
Private Limited continues to be 'CRISIL D Issuer Not Cooperating'.

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

CRISIL Ratings has been consistently following up with Planet PR
for obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Planet PR, promoted by Odisha-based Mr. Ranjan Kumar Pattanayak and
Mr. Pradyumna Singh, trades in iron ore and coal. Its operations
are primarily managed by Mr. Ranjan Kumar Pattanayak.


POYNTPOS SYSTEMS: Voluntary Liquidation Process Case Summary
------------------------------------------------------------
Debtor: Poyntpos Systems Privat Limited
No. 54, 3rd Floor, 13th Main,
        17th Cross, Sector-6 Behind BDA Complex,
        HSR Layout, Banglore,
        Banglore, Karnataka,
        India, 560102

Insolvency Commencement Date: August 29, 2024

Court: National Company Law Tribunal Mumbai Bench

Liquidator: Mr. Pavitra Vyas
     CCB 52, 3RD Floor,
            Opposite Shivaji Garden
            Dr. SPM Road, Khade Bazar, Shahapur, Belagavi-590003
            Email: cspavitravyas@gmail.com’
            Email: poyntpos.voluntaryliq@gmail.com
            Phone: 9449191848

Last date for
submission of claims: September 28, 2024


Q-DAS SOFTWARE: Voluntary Liquidation Process Case Summary
----------------------------------------------------------
Debtor: Q-Das Software Private Limited
        Galore Tech, Survey No. 22 Hissa
        No. 2/13/14/1/1, Bavdhan Khurd, Pune - 411021

Insolvency Commencement Date: August 29, 2024

Court: National Company Law Tribunal Pune Bench

Liquidator: Anagha Anasingaraju
            1-2, Aishwarya Sankul,
            17 G.A. Kulkarni Path,
            Opposite Joshi's Railway Museum,
            Kothrud, Pune - 411038
            Email: rp.anagha@kanjcs.com
            Tel No: 020-25466265/ 25461561

Last date for
submission of claims: September 28, 2024


R. N. KAPOOR: CRISIL Moves B Debt Ratings to Not Cooperating
------------------------------------------------------------
CRISIL Ratings said has migrated the ratings on bank facilities of
R. N. Kapoor Textiles Private Limited (RNKTPL) to 'CRISIL
B/Stable/CRISIL A4 Issuer Not Cooperating'
                       Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit          6.4         CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Letter of Credit     0.6         CRISIL A4 (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Long Term Loan       1.19        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

   Proposed Fund-       1.32        CRISIL B/Stable (ISSUER NOT
   Based Bank Limits                COOPERATING; Rating Migrated)

   Term Loan            2.49        CRISIL B/Stable (ISSUER NOT
                                    COOPERATING; Rating Migrated)

CRISIL Ratings has been consistently following up with RNKTPL for
obtaining NDS through letters/emails dated June 29, 2024, July 31,
2024 and August 31, 2024 among others, apart from telephonic
communication to seek the same. After non-receipt of NDS for 2
consecutive months, we also sent a letter dated August 23, 2024
reminding the issuer to share the NDS. However, the issuer has
remained non cooperative. CRISIL Ratings has also tried to reach
out to the lenders of RNKTPL to confirm timely debt servicing
during these months, but awaits any feedback.

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

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive NDSs from RNKTPL, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. Further, non-sharing of NDS by issuers may reflect
operational issues faced by issuers in some cases. On the other
hand, it may be a beginning of a general non-cooperation and may
extend to non-submission of other information.

CRISIL Ratings believes that rating action on RNKTPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RNKTPL
migrated to 'CRISIL B/Stable/CRISIL A4 Issuer Not Cooperating'
RNKTPL was set up in 1997, by Mr Satish Kumar and his brothers, Mr
Suresh Kumar, Mr Sanjeev Kumar, and Mr Sushil Kumar. The Ludhiana
(Punjab)-based company manufactures and trades in hosiery garments
and synthetic yarn, respectively.


SAI CARTON: CRISIL Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Sai Carton
Manufacturing Company Private Limited (SCMPL) continue to be
'CRISIL B/Stable Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            4.5        CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Proposed Term Loan     2.5        CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Rupee Term Loan        1.0        CRISIL B/Stable (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with SCMPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Established as proprietorship firm in 1996 and reconstituted as a
private limited company in 2002, SCMPL is promoted by Mr. H T
Krishna and Ms. B S Ramapriya and manufactures corrugated boxes and
wooden pallets that are used as packaging material.


SELVE CASHEWS: CRISIL Keeps B Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Selve Cashews
(SC) continue to be 'CRISIL B/Stable/CRISIL A4 Issuer Not
Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            5.0        CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Proposed Long Term     2.5        CRISIL B/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

   Proposed Short Term    2.5        CRISIL A4 (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with SC for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

Despite repeated attempts to engage with the management, CRISIL
Ratings failed to receive any information on either the financial
performance or strategic intent of SC, which restricts CRISIL
Ratings' ability to take a forward looking view on the entity's
credit quality. CRISIL Ratings believes that rating action on SC is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of SC
continues to be 'CRISIL B/Stable/CRISIL A4 Issuer Not
Cooperating'.

SC, set up in 2008 and based in Cuddalore, Tamil Nadu, processes
raw cashew nuts to cashew kernel. It is a proprietorship concern of
Ms. Kalaiselvi and its operations are managed by her husband, Mr.
Ravi.


SHIVALIK COTSYN: Liquidation Process Case Summary
-------------------------------------------------
Debtor: Shivalik Cotsyn Private Limited
        Delhi Road, Saharanpur,
        Uttar Pradesh, India PIN 247001

Liquidation Commencement Date: August 22, 2024

Court: National Company Law Tribunal, Allahabad Bench

Liquidator: Dinesh Kumar
            Room No. 7, First Floor,
            Chatarbhuj Leelawati Trust Building,
            Geeta Mandir Road,
            Panipat 132103, Haryana
            Email: dkge2004@yahoo.com
            Email: shivalik.cotsyn.cirp@gmail.com

Last date for
submission of claims: September 21, 2024


SIGMA-C INFRASTRUCTURE: Liquidation Process Case Summary
--------------------------------------------------------
Debtor: Sigma-C Infrastructure Private Limited
        52A Shakespeare Sarani,
        Kolkata 700017, West Bengal

Liquidation Commencement Date: August 27, 2024

Court: National Company Law Tribunal, Kolkata Bench

Liquidator: Hansraj Jaria
            36, Abinash Sashmal Lane,
            Beleghata, Phoolbagan
            (near Pawanputra Hotel)
            Kolkata - 700010
            Email: hansrajjaria@gmail.com
            Email: sigmac.liquidation@gmail.com

Last date for
submission of claims: September 26, 2024


SPECIAL CERAMICS: CRISIL Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Special
Ceramics Private Limited (SCPL) continue to be 'CRISIL B/Stable
Issuer Not Cooperating'.

                        Amount
   Facilities        (INR Crore)     Ratings
   ----------        -----------     -------
   Cash Credit            3          CRISIL B/Stable (Issuer Not
                                     Cooperating)

   Proposed Long Term     1.55       CRISIL B/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

   Term Loan              4.45       CRISIL B/Stable (Issuer Not
                                     Cooperating)

CRISIL Ratings has been consistently following up with SCPL for
obtaining information through letter and email dated August 12,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

SCPL was incorporated in 1988. SCPL is owned & managed by Mr.
Sushil Kumar Agrawal and Mr. Anishul Rizvi. SCPL is engaged in
manufacturing of refractory bricks and monolithic as well as other
refractory items for glass, cement and carbon black industry. SCPL
manufacturing facility is located in Bhiwadi (Rajasthan) with an
installed capacity of7200 MT/ annum.


TOTEM INFRASTRUCTURE: Liquidation Process Case Summary
------------------------------------------------------
Debtor: Totem Infrastructure Limited
        H. No. 8-2-334/B/2 Road No. 5,
        Banjara Hills, Hyderabad,
        Telangana, India 500082

Liquidation Commencement Date: February 21, 2024

Court: National Company Law Tribunal, Hyderabad Bench

Liquidator: Dantu Indu Sekhar
            29-1401/6/1, Plot No. 253,
            Road No. 2 (West),
            Deen Dayal Nagar Ramakrisgna Puram,
            Neredmet, Hyderabad,
            Telangana 500056
            Email: indu.sekhar3@gmail.com

                -- and --

            Flat No 104, Kavuri Supreme Enclave
            Kavuri Hills, Hyderabad 500033, Telangana
            Email: indu.sekhar3@gmail.com

Last date for
submission of claims: March 22, 2024


U.N. AUTOMOBILES: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: U.N. Automobiles private limited
        UN Workshop, Govardhan Vilas N.H.8,
        Valicha, Udaipur, Rajasthan, India, 313001

Insolvency Commencement Date: August 28, 2024

Court: National Company Law Tribunal, Jaipur Bench

Estimated date of closure of
insolvency resolution process: February 24, 2025

Insolvency professional: Satyendra Prasad Khorania

Interim Resolution
Professional: Satyendra Prasad Khorania
              402, 4th Floor, O K Plus, D P Metro,
              Opposite Pillar No. 94, New Sanganer Road,
              Jaipur, Rajasthan, 302019
              E-mail: skhorania@live.com
              E-mail: cirpunauto@gmail.com

Last date for
submission of claims: September 12, 2024


VALID TECHNOLOGIES: Voluntary Liquidation Process Case Summary
--------------------------------------------------------------
Debtor: Valid Technologies India Private Limited
Shop No. 302, 3rd Floor, SSG East Plaza,
        LSC Kondi Gharoli Mayur Vihar-III,
        Delhi - 110096

Insolvency Commencement Date: August 30, 2024

Court: National Company Law Tribunal Noida Bench

Liquidator: Rakesh Mishra
     C-100, Sector-2, Noida,
            Uttar Pradesh-201301
            Email: liq.vtipl24@gmail.com
            Email: rakeshmishranr@hotmail.com
            Tel No: 0120-4729417

Last date for
submission of claims: September 29, 2024


VGS REALTY: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: VGS Realty Construction Private Limited

        Registered Address:
        Popular Metal works
        Tatya Tope Marg, Joglekarwadi,
        Sion Fish Mkt, Sion (E), Sion,
        Mumbai - 400022,
        Maharashtra, India

        Erstwhile registered office:
        Omakr House
        Off. Easten Express Highway
        Sion East Mumbai-400022
        Maharashtra, India

Insolvency Commencement Date: August 21, 2024

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: February 17, 2025

Insolvency professional: ManojKumar Babulal Agarwal

Interim Resolution
Professional: ManojKumar Babulal Agarwal
              Office No-4, First Floor,
              Hotel Citi Pride
              Behind Ambedkar Statue Pimpri,
              Pune 411018, Maharashtra
              Email: manojagarwal20@gmail.com
              Email: cirp.vrcpl@gmail.com

Last date for
submission of claims: September 4, 2024


VISA ENERGY: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Visa Energy Ventures Limited
        5B, Express Tower,
        42A Shakespeare Sarani,
        Kolkata 700017 (W.B.)

Insolvency Commencement Date: August 14, 2024

Court: National Company Law Tribunal, Kolkata Bench

Estimated date of closure of
insolvency resolution process: February 10, 2024

Insolvency professional: Bishwanath Choudhary

Interim Resolution
Professional: Bishwanath Choudhary
              7 1/3, Cana Circular Road,
              Prasad Exotica, Flat No. 8F, Block 7,
              Kolkata 700054 (W.B.)
              Email: choudhary_bishwanath@rediffmail.com

Last date for
submission of claims: August 28, 2024




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

[*] JAPAN: Business Failures Log First Drop in 29 Months in August
------------------------------------------------------------------
The Japan Times reports that the number of corporate bankruptcies
with debts of at least JPY10 million in Japan in August dropped
4.8% from a year earlier to 723, down for the first time in two
years and five months, Tokyo Shoko Research data have shown.

The figure stood below 800 for the first time in four months, The
Japan Times discloses citing the data, released on Sept. 9. Growing
moves by companies to pass on higher costs reflecting a rise in
inflation are believed to have led to the decrease in
bankruptcies.

But "there are lingering factors that can worsen corporate
earnings, such as rises in prices, labor costs and interest rates,"
the research firm said, adding that the number of bankruptcies is
expected to "follow an uptrend while repeating ups and downs."
Total liabilities left by failed companies in August stood at
JPY101.3 billion, down 6.4% year on year and dropping for the first
time in two months, The Japan Times discloses.

Many of the firms that went bust were small companies and micro
businesses. Bankruptcies involving less than JPY100 million of
liabilities accounted for more than 70% of the total cases.

By industry, the number of bankruptcies was the biggest in the
service sector, at 242, up 1.6%. Bankruptcies were noticeable
mainly among operators of eating and drinking establishments.

According to The Japan Times, the construction industry had the
second-largest number of bankruptcy cases, at 121, although the
figure was down 22.9%. Bankruptcies decreased in the manufacturing,
real estate and transport sectors.

Of the total cases, bankruptcies caused by difficulties passing on
increased costs resulting from higher prices decreased about 20% to
46, the second-lowest monthly figure so far this year. However, the
combined number of such bankruptcy cases in January-August stood at
490, up 16.6% from a year before.




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

GLASSFORCE LIMITED: Creditors' Proofs of Debt Due on Oct. 12
------------------------------------------------------------
Creditors of Glassforce Limited are required to file their proofs
of debt by Oct. 12, 2024, to be included in the company's dividend
distribution.

The High Court at Christchurch appointed Malcolm Hollis and Judith
Shields PwC as liquidators on Sept. 5, 2024.


GURU NZ: Court to Hear Wind-Up Petition on Oct. 4
-------------------------------------------------
A petition to wind up the operations of Guru NZ Limited will be
heard before the High Court at Auckland on Oct. 4, 2024, at 10:00
a.m.

Forest360 Limited filed the petition against the company on Aug. 6,
2024.

The Petitioner's solicitor is:

          Brittany Jane Gibson
          Level 3, Wairere House
          Corner Somme Parade and Bates Street
          Whanganui


PRECISE TRAFFIC: Court to Hear Wind-Up Petition on Oct. 1
---------------------------------------------------------
A petition to wind up the operations of Precise Traffic Solutions
Limited will be heard before the High Court at Wellington on Oct.
1, 2024, at 10:00 a.m.

Z Energy Limited filed the petition against the company on July 31,
2024.

The Petitioner's solicitor is:

          Catherine Louise Waugh
          c/- Credit Consultants Group NZ Limited
          Level 6, 15 Willeston Street
          Wellington Central
          Wellington 6011


PRO SLABS: Creditors' Proofs of Debt Due on Oct. 3
--------------------------------------------------
Creditors of Pro Slabs (2020) Limited are required to file their
proofs of debt by Oct. 3, 2024, to be included in the company's
dividend distribution.

The High Court at Palmerstone appointed Steven Khov and Kieran
Jones of Khov Jones as liquidators on Sept. 5, 2024.


WATTS LIMITED: Creditors' Proofs of Debt Due on Oct. 1
------------------------------------------------------
Creditors of Watts Limited are required to file their proofs of
debt by Oct. 1, 2024, to be included in the company's dividend
distribution.

The High Court at Palmerstone appointed Steven Khov and Kieran
Jones of Khov Jones as liquidators on Sept. 3, 2024.




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

CORDLIFE GROUP: Tan Huiying Steps Down as Group Director
--------------------------------------------------------
The Business Times reports that embattled cord-blood bank
Cordlife's group director for quality and operations, Tan Huiying,
will resign from the company effective Nov. 4, after about eight
years in her current role.

In an announcement on Sept. 9, Cordlife said that Tan was leaving
to pursue her "personal interests" and that her resignation had
been accepted by the company's board of directors, BT relates.

In her role, which she assumed in July 2016, Tan is responsible for
the group's operations, information systems and technology and
business development activities. She is also responsible for
ensuring that the group's quality standards in service and product
offerings are maintained according to applicable standards.

Her resignation comes about two weeks after the Health Ministry
said Cordlife will be allowed to resume cord-blood banking services
"in a controlled manner" from Sept. 15, according to BT.

Tan joined the company as a business development and technical
executive in June 2006, BT notes. Prior to her current position,
she served as business unit director for the diagnostics team from
January 2014 to June 2016. In this position, her role involved
developing and implementing growth and product strategies for the
group's diagnostics business to meet financial and non-financial
goals.

                           About Cordlife

Headquartered in Singapore, Cordlife Group Limited, an investment
holding company, provides cord blood banking services in Singapore,
Hong Kong, India, Malaysia, the Philippines, and internationally.
The company operates through two segments, Banking and Diagnostics.
It offers cord blood, cord lining, and cord tissue banking
services, including processing and storage of stem cells; and
various diagnostics services, such as newborn genetic screening,
pediatric vision and ear screening, pediatric allergen test,
genetic talent test, preimplantation genetic screening, endometrial
receptivity test, non-invasive prenatal testing, and newborn
metabolic screening. The company also provides Moms Up, a mobile
app for pregnancy and parenting resources for moms and moms-to-be.
In addition, it provides medical laboratory, marketing, and
property investment services.  

As reported in the Troubled Company Reporter-Asia Pacific in late
in April 2024, Cordlife's former internal auditor KPMG had
submitted a disclaimer of opinion in its independent auditor's
report dated April 24, stating that it had not been able to obtain
"sufficient appropriate audit evidence" to provide a basis for an
audit opinion on several areas.

These areas included the company's compliance with laws and
regulations, given Cordlife's ongoing investigations by the
Ministry of Health (MOH) and the Commercial Affairs Department
(CAD).

KPMG also addressed uncertainties in providing an audit opinion on
the subject of Cordlife's refunds and claims, after the company
said it would waive all future annual fees and initiate a refund
for clients affected by its recent case of damaged cord-blood
units, BT related.

According to BT, the auditor said it was unable to obtain
sufficient audit evidence over the number of affected customers
with confirmed damaged cord blood arising from temperature
excursions as at Dec. 31 2023 - and therefore the "quantification
and significance" on any adjustments to be recorded in Cordlife's
financial statements as a result.

KPMG further highlighted that "there are no alternative audit
procedures that can be performed" in applying the going concern
basis of preparation for Cordlife's financial statements.

This is because investigations by MOH and CAD remain ongoing, while
Cordlife's business in Singapore remains suspended.


EVERETT LNG: Creditors' Proofs of Debt Due on Oct. 12
-----------------------------------------------------
Creditors of Everett LNG Pte. Ltd. are required to file their
proofs of debt by Oct. 12, 2024, to be included in the company's
dividend distribution.

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

The company's liquidator is:

          Koh Swee Tian
          7 Temasek Boulevard
          #04-01 Suntec Tower One
          Singapore 038987


FINANTIER PTE: Court Enters Wind-Up Order
-----------------------------------------
The High Court of Singapore entered an order on Sept. 2, 2024, to
wind up the operations of Finantier Pte. Ltd.

The company's liquidator is:

          Farooq Ahmad Mann
          Mann & Associates PAC
          3 Shenton Way
          #03-06C Shenton House
          Singapore 068805


WA SUPERAPP: Final Meeting Set for October 18
---------------------------------------------
Members and creditors of WA Superapp Technology Ptd. Ltd. will hold
their final meeting on Oct. 18, 2024, at 11:00 a.m. via via audio
visual communication.

At the meeting, Abuthahir Abdul Gafoor and Yessica Budiman, the
company's liquidators, will give a report on the company's wind-up
proceedings and property disposal.




=====================
S O U T H   K O R E A
=====================

QOO10 GROUP: TMON Says in Talks for Merger
------------------------------------------
Yonhap News Agency reports that the chief executive of TMON said
Sept. 11 the beleaguered e-commerce platform has been in talks for
a merger and plans to resume its operations next month.

According to Yonhap, TMON Chief Executive Ryu Kwang-jin made the
remarks a day after a Seoul court granted a rehabilitation process
for TMON and WeMakePrice, owned by Singapore-based Qoo10 Group.

TMON and WeMakePrice faced a liquidity crisis over delayed payments
for its vendors, prompting the South Korean government to provide
financial support to the vendors.

Yonhap relates that the court will decide on whether to approve the
rehabilitation program for TMON after reviewing its self-help
plans. TMON could go bankrupt if the court finds excessive debts
and default of payment.

"We are targeting to complete the M&A plan to find an investor (in
TMON) before the court approves the company's rehabilitation
program. We are in talks with two companies for the M&A deal," Ryu
said.

TMON is also preparing its transaction settlement system to resume
sales through its online marketplaces next month, Ryu said.

Qoo10 retails e-commerce products. The Company offers personal
care, sports apparel, consumer electronics, home furnishing, food,
toys, and other consumer products. Qoo10 serves customers
worldwide. Qoo10 owns online marketplaces TMON and WeMakePrice.




===============
T H A I L A N D
===============

[*] THAILAND: Household Debt Rises to 16-Year High
--------------------------------------------------
Bloomberg News reports that the average household debt in Thailand
is seen rising to the highest in at least 16 years as an uneven
post-pandemic economic recovery hurts family incomes, according to
a survey.

The debt pile per household is set to jump 8.4% to 606,378 baht
($17,959) this year, Bloomberg discloses citing a survey by the
University of Thai Chamber of Commerce. That's the highest family
debt obligation since the university began the survey in 2009. The
findings are based on survey of 1,300 respondents during Sept. 1
and 7.

According to Bloomberg, newly-appointed Prime Minister Paetongtarn
Shinawatra is set to prioritize tackling the nation's household
liability estimated at more than THB16 trillion - equivalent to
around 91% of gross domestic product. She is due to announce a
sweeping debt restructuring as an urgent priority in her
government's policy statement due on Sept. 12.

"The high level of household debt is hurting the nation's
attractiveness for investors as it limits consumption and growth in
the future," Bloomberg quotes Thanavath Phonvichai, the
university's president, as saying at a briefing on Sept. 10. "The
government is right on target to address this issue as well as
boosting economic growth."

The household debt-to-GDP ratio is expected to stabilize around the
current level before declining to 89% next year as new stimulus
measures, especially the cash handout scheme, will help boost
economic growth, Thanavath said.

Almost 70% of household liabilities are formal debt, while the rest
of the borrowings are from informal sources. Thanavath estimated
that the informal debt could be 10%-20% of GDP, Bloomberg adds.



                           *********


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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.
Information contained herein is obtained from sources believed
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mail.  Additional e-mail subscriptions for members of the same
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thereof are US$25 each.  For subscription information, contact
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