---

       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

          Tuesday, December 17, 2024, Vol. 27, No. 252

                           Headlines



A U S T R A L I A

AMDEL MINE: First Creditors' Meeting Set for Dec. 22
CDMS INVESTMENTS: First Creditors' Meeting Set for Dec. 20
GREENBANK PUMPS: First Creditors' Meeting Set for Dec. 24
NATIONAL NARROWBAND: Second Creditors' Meeting Set for Dec. 20
PERTH GLORY: ATO Seeks to Wind Up Soccer Club

SYKEE PTY: Placed in Voluntary Administration
VIVOPHARM GLOBAL: Second Creditors' Meeting Set for Dec. 20


C H I N A

SHIMAO GROUP: Reports Contracted Sales of CNY2.72BB in November


I N D I A

APTINA INDIA: Voluntary Liquidation Process Case Summary
BECKHEM TRADING: Liquidation Process Case Summary
GOLDEN JUBILEE: NCLAT Upholds NCLT Order Approving Sale
KHFM HOSPITALITY: CRISIL Cuts Long/Short Term Ratings to D
KISANVEER SATARA: CRISIL Keeps D Debt Ratings in Not Cooperating

KTC CARS: CRISIL Keeps D Debt Ratings in Not Cooperating Category
LAKSHMI KALAVATHI: CRISIL Keeps B Debt Ratings in Not Cooperating
MA CHANDI: CRISIL Keeps D Ratings in Not Cooperating Category
MAA KALIKA: CRISIL Keeps D Debt Ratings in Not Cooperating
MANJUSHREE HARDWARES: CRISIL Keeps D Ratings in Not Cooperating

MATAJI DYEING: CRISIL Keeps D Debt Ratings in Not Cooperating
MSR ENTERPRISES: CRISIL Keeps D Debt Ratings in Not Cooperating
MURALI ADS: CRISIL Keeps B+ Debt Ratings in Not Cooperating
MUTHULAXMI SPINNING: CRISIL Keeps D Ratings in Not Cooperating
NHS INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating

NIKHIL TOBACCOS: CRISIL Keeps D Debt Rating in Not Cooperating
NILKANTH COTTON: CRISIL Keeps D Debt Ratings in Not Cooperating
NIZAM DECCAN: CRISIL Keeps D Debt Ratings in Not Cooperating
PAVNI (MP) SOLAR: Insolvency Resolution Process Case Summary
PRAVEEN ELECTRICAL: CRISIL Keeps D Ratings in Not Cooperating

PRIMA KLEENSEED: CRISIL Keeps B- Debt Ratings in Not Cooperating
PURNO-GOURI COLD: CRISIL Keeps D Debt Ratings in Not Cooperating
R. S. K. RICE: CRISIL Keeps Debt B+ Ratings in Not Cooperating
RAGHAVA PROJECT: CRISIL Keeps D Debt Ratings in Not Cooperating
RAJLABDHI INFRA: CRISIL Keeps D Debt Rating in Not Cooperating

RANA FARMS: CRISIL Keeps D Debt Ratings in Not Cooperating
RASHMI STEELS: CRISIL Keeps D Debt Ratings in Not Cooperating
RAYBAN FEEDS: CRISIL Keeps D Debt Ratings in Not Cooperating
RISHI RAJ: CARE Keeps D Debt Ratings in Not Cooperating Category
RISHIKESH FILAMENTS: CRISIL Keeps B+ Ratings in Not Cooperating

SANGHVI LAND: Liquidation Process Case Summary
SARGAM METALS: Insolvency Resolution Process Case Summary
SENTHILKUMAR WOOD: CRISIL Keeps D Debt Ratings in Not Cooperating
SOBHANA JEWELLERS: CRISIL Keeps B+ Ratings in Not Cooperating
VASAVI AGRO: CRISIL Keeps D Debt Ratings in Not Cooperating



N E W   Z E A L A N D

AETHER PACIFIC: Man Behind Company Opens New Companies in UK
AKON ELECTRICAL: Creditors' Proofs of Debt Due on Jan. 6
AQUA GROUP: Creditors' Proofs of Debt Due on Jan. 31
BBS HORTICULTURE: Court to Hear Wind-Up Petition on March 10
BRIGHT BUILDERS: Court to Hear Wind-Up Petition on Feb. 14

MYRTLE BAKERY: Award-Winning Bakery to Close on Dec. 21
PHEROMITE LIMITED: Creditors' Proofs of Debt Due on Feb. 14
SUSTAINABLE FOODS: Owes Nearly NZD3 Million, Liquidators Reveal


S I N G A P O R E

APPLE ASIA: Creditors' Proofs of Debt Due on Jan. 10
FAIRWAY MAINTENANCE: Creditors' Proofs of Debt Due on Jan. 14
SINGH MOTORSPORTS: Court to Hear Wind-Up Petition on Dec. 27
SINGTECH IT: Court to Hear Wind-Up Petition on Dec. 27
TREND TECH: Court to Hear Wind-Up Petition on Dec. 27



S O U T H   K O R E A

[*] SOUTH Korea: Delinquency Rate on Bank Loans Rebound in October


T H A I L A N D

THAI AIRWAYS: Finance Ministry Allots THB20BB for THAI Shares


X X X X X X X X

[*] BOND PRICING: For the Week Dec. 9, 2024 to Dec. 13, 2024

                           - - - - -


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

AMDEL MINE: First Creditors' Meeting Set for Dec. 22
----------------------------------------------------
A first meeting of the creditors in the proceedings of Amdel Mine
Maintenance & Machinery Pty Ltd will be held on Dec. 22, 2024 at
10:30 a.m. virtually via Microsoft Teams.

Michael Beck of Worrells was appointed as administrator of the
company on Dec. 11, 2024.


CDMS INVESTMENTS: First Creditors' Meeting Set for Dec. 20
----------------------------------------------------------
A first meeting of the creditors in the proceedings of CDMS
Investments Pty Ltd will be held on Dec. 20, 2024 at 2:00 p.m. via
teleconference only.

Stephen Dixon of Hamilton Murphy Advisory was appointed as
administrator of the company on Dec. 11, 2024.


GREENBANK PUMPS: First Creditors' Meeting Set for Dec. 24
---------------------------------------------------------
A first meeting of the creditors in the proceedings of Greenbank
Pumps and Irrigations QLD Pty Ltd will be held on Dec. 24, 2024 at
10:00 a.m. at the offices of Vincents at Level 34, 32 Turbot Street
in Brisbane and via virtual meeting technology.

Nick Combis of Vincents Chartered Accountants was appointed as
administrator of the company on Dec. 12, 2024.


NATIONAL NARROWBAND: Second Creditors' Meeting Set for Dec. 20
--------------------------------------------------------------
A second meeting of creditors in the proceedings of National
Narrowband Network Communications Pty Ltd has been set for Dec. 20,
2024 at 10:00 a.m. by video conference.

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

Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Dec. 19, 2024 at 5:00 p.m.

Barry Wight and Catherine Margaret Conneely of Cor Cordis were
appointed as administrators of the company on Nov. 15, 2024.


PERTH GLORY: ATO Seeks to Wind Up Soccer Club
---------------------------------------------
BusinessNews reports that the Australian tax office has brought
legal action against Perth Glory in a bid to wind up the company
less that a year after its new owners took the reins.

BusinessNews relates that the tax offices is chasing the soccer
club for a debt of close to AUD1 million.

               About Perth Glory Football Club

Perth Glory Football Club is an Australian professional soccer club
based in Perth, Western Australia.

Perth Glory was placed in receivership in July 2023, because of
financial difficulties, ending businessman Tony Sage's 15-year sole
ownership of the club.  KordaMentha was appointed to oversee the
transition of the club's license to new owners.

Eventually, the Pelligra Group was named the new owner of the club
on Feb. 16, 2024.


SYKEE PTY: Placed in Voluntary Administration
---------------------------------------------
News.com.au reports that Sykee Pty Ltd, an NDIS service provider
with more than 60 staff and 200 clients, has collapsed after its
boss claimed he had uncovered embezzlement within the business.

Last week, news.com.au reported that staff were quitting
Sydney-based mental health company in droves as their pay arrived
late while their superannuation had not been paid for months.

The company's sole director, Joshua Scott, previously said the
amount of money lost in the embezzlement had apparently hit the six
figure mark and it involved "fraudulent practices", including
billing clients for services which weren't rendered.

Mr. Scott assured news.com.au that his business was not going
under, but on Dec. 16, staff received a text informing them that
the health service was in voluntary administration.

In a company-wide text message, staff were informed there had been
an "important development" as the company had gone into voluntary
administration, according to news.com.au.

But bizarrely, the staff were told to opt in with a ‘YES' reponse
to the message if they wanted to "seamless(ly)" carry on their
employment at a new entity, free from debt.

"Sykee will be transitioning its operations to Sky Mental Health
Services, who will take over the management and execution of
services," the text read.

It came with a caveat, addressing some concerns of staff.

"Please note that Sykee and Sky Mental Health Services are not
avoiding any encumbrances but are balancing them through business
transactions to ensure the seamless continuation of service."

It said this would ensure "more reliable" payment of wages.

This would seem to indicate that the previous business, Sykee Pty
Ltd, might not be trading through its administration, news.com.au
says.

Sykee Pty Ltd's administration is not yet registered on ASIC.

Sykee, a Sydney based NDIS mental health service provider which
opened three years ago, employs around 60 support workers and a
further 10 head office staff.


VIVOPHARM GLOBAL: Second Creditors' Meeting Set for Dec. 20
-----------------------------------------------------------
A second meeting of creditors in the proceedings of Vivopharm
Global Pty Ltd has been set for Dec. 20, 2024 at 9:30 a.m. at the
offices of Clifton Hall at Level 3, 431 King William Street in
Adelaide.

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

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

Daniel Lopresti and Anna Agostino of Clifton Hall were appointed as
administrators of the company on Nov. 15, 2024.




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

SHIMAO GROUP: Reports Contracted Sales of CNY2.72BB in November
---------------------------------------------------------------
MarketScreener reports that Shimao Group Holdings Limited reported
unaudited group sales results for the month and 11 months ended
Nov. 30, 2024. For the month, the Group's contracted sales amounted
to approximately CNY2.72 billion and the Group's contracted sold
area amounted to 227,620 sq.m. The average selling price for
November 2024 was CNY11,951 per sq.m.

For the year to date, the Group's aggregated contracted sales for
the 11 months ended Nov. 30, 2024 amounted to approximately
CNY31.17 billion and the Group's aggregated contracted sold area
amounted to 2,450,341 sq.m, MarketScreener discloses. The average
selling price for the 11 months ended Nov. 30, 2024 was CNY12,721
per sq.m.




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

APTINA INDIA: Voluntary Liquidation Process Case Summary
--------------------------------------------------------
Debtor: Aptina India Private Limited
        No 89, 16 A Main 7 Cross, 4B Block,
        Koramangala, Bangalore,
        Karnataka, India 560034

Liquidation Commencement Date: December 2, 2024

Court: National Company Law Tribunal, Bengaluru Bench

Liquidator: Kondisetty Kumar Dushyantha
            No. 1, Ashoka Pillar, 5th Floor,
            3rd Cross Jayanagar, I Block,
            Bangalore 560011
            Email: dushyanthak@gmail.com
            Tel No: 080 26560400

Last date for
submission of claims: January 2, 2025


BECKHEM TRADING: Liquidation Process Case Summary
-------------------------------------------------
Debtor: Beckhem Trading Private Limited
        Oce No 34, Lotus House
        New Marine Lines
        Near Bombay Hospital
        Mumbai 40020

Liquidation Commencement Date: October 24, 2024

Court: National Company Law Tribunal, Mumbai Bench I

Liquidator: Rakesh Kumar Tulsyan
            B-4 Vinay Tower,
            Kranti Nagar, Lokhandwala,
            Kandivali East, Mumbai 400101
            Email: tulsyanrk@gmail.com
            Email:liq.btpl@gmail.com

Last date for
submission of claims: January 1, 2025


GOLDEN JUBILEE: NCLAT Upholds NCLT Order Approving Sale
-------------------------------------------------------
Livemint.com reports that the National Company Law Appellate
Tribunal (NCLAT) has set aside EIH Ltd's petition against an NCLT
order approving the sale of Hyderabad-based Golden Jubilee Hotels.

Livemint.com relates that the appellate tribunal upheld the earlier
decision of the National Company Law Tribunal (NCLT), allowing the
bid of a Singapore-based entity and said the business decision by
the majority of the CoC (Committee of Creditors) "cannot be
questioned or looked into".

"This recent judgment leaves no doubt about reinforced faith in
commercial wisdom of CoC and little scope of any judicial
intervention," said a two-member bench of the NCLAT.

Earlier, the Hyderabad Bench of NCLT had approved the bids of
Singapore-based BREP Asia II Indian Holding Co II (NQ) PTE on
February 7, 2020, which was challenged before NCLAT by EIH, a
flagship company of The Oberoi Group, Livemint.com notes.

Livemint.com says EIH, which was managing Golden Jubilee Hotels and
has 16 per cent shareholding, contended that it could not be
treated as a promoter and become 'ineligible' to be part of the
resolution plan for the hotel under Section 29A of the Insolvency &
Bankruptcy Code (IBC).

During the resolution process, some of the resolution plans
proposed for the continuance of EIH as the operator of the hotel on
an independent and separate basis. However, indicating it as 'a
conflict of interest' the resolution professional had suggested
that such bids may invite disqualification.

Aggrieved by this, EIH approached NCLT, which also said EIH being a
promoter of Golden Jubilee Hotels would be ineligible under Section
29A, any Resolution Plan to include EIH as an integral part of the
Resolution Plan would vitiate it.

Section 29A of IBC is a restrictive provision that states that any
person on the negative list is not eligible to submit a resolution
plan. This includes undischarged insolvent, wilful defaulter or the
defaulter under the management or control of the person.

Livemint.com relates that EIH contended that Section 29A is
applicable to a bidder and not to a third-party operator like EIH
and it was proposed as an operator of the hotel without there being
any ownership or management rights. Moreover, the management and
operation of hotels is at arm's length, it added.

However, the NCLAT rejected it and held that EIH was the original
promoter of the hotel and the land would not have been allotted
unless there was a promoter having experience in running and
operating the hotel.

                       About Golden Jubilee

Golden Jubilee Hotels Limited builds hotel properties. The company
was formerly known as Golden Jubilee Estates Limited and changed
its name to Golden Jubilee Hotels Limited in December 2006. The
company was incorporated in 1996 and is based in Hyderabad, India.
Golden Jubilee Hotels Limited operates as a subsidiary of Core
Hotels Ventures Pvt Ltd.

Golden Jubilee Hotels was pushed into insolvency proceedings in
2018 after it defaulted on repayments to creditors.

The company has claims of about INR1,085 crore which includes
operational creditors, according to The Economic Times.


KHFM HOSPITALITY: CRISIL Cuts Long/Short Term Ratings to D
----------------------------------------------------------
CRISIL Ratings has downgraded its ratings on the bank loan
facilities of KHFM Hospitality And Facility Management Services Ltd
(KHFM) to 'CRISIL D/CRISIL D' from 'CRISIL BB-/Stable/CRISIL A4+'.
The rating downgrade reflects delays in meeting the debt obligation
on account of weak liquidity.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Long Term Rating        -          CRISIL D (Downgraded from
                                      'CRISIL BB-/Stable')

   Short Term Rating       -          CRISIL D (Downgraded from
                                      'CRISIL A4+')

The company also has a modest scale of operations in an intensely
competitive industry, exposure to risks inherent in tender-based
business, working capital-intensive operations and average debt
protection metrics. However, the company has established healthy
relationships with customers in the facility management and
security services industry, and has a comfortable capital
structure.

Analytical approach

For arriving at the ratings, CRISIL Ratings has consolidated the
business and financial risk profiles of KHFM and its subsidiaries -
KHFM Infra Projects Pvt Ltd and KHFM & D.P Jain Company. CRISIL
Ratings considers these entities strategic to KHFM in view of their
strong integration with KHFM's operations. Unsecured loan of
INR3.09 crore is treated as debt.

Key rating drivers and detailed description

Weaknesses:

Delays in the repayment obligation: There has been regular
instances of delay in the repayment of principal and interest
components. This was on account of delays in receivables from its
vendors.

* Modest scale of operations in an intensely competitive industry
and exposure to risks inherent in tender-based business: The
company's scale of operations was modest at INR112.09 crore in
fiscal 2024. The operations had muted growth with revenue of
INR91-112 crore in the last three years through fiscal 2024. The
scale has remained modest as the company operates in a highly
competitive and fragmented industry as indicated by the presence of
several unorganised players in the domestic market. Furthermore,
KHFM's major operations are tender based, as the company primarily
deals with government and private organisations. Therefore, the
company has limited bargaining power with its customers. Due to
tender-based nature of the business, KHFM's scale of operations
will be highly reliable on its ability to win tenders over the
medium term.

* Working capital-intensive operations: KHFM has large working
capital requirement, as reflected in its high gross current assets
(GCAs), excluding cash, of around 238 days as on March 31, 2024.
The company's high GCAs resulted from the large credit period
extended to customers. KHFM receives payments from its customers in
78-90 days, on average. Furthermore, the inventory primarily
includes unbilled or work in process (WIP) revenue, and is
typically at 98-175 days. The company had bad debt of INR6.12 crore
in fiscal 2024, and no large, bad debt is expected over the medium
term. The recovery of receivables and efficient working capital
management with increasing scale, remain monitorable over the
medium term, as any significant stretch in realisation from the
debtors could materially weaken the company's liquidity.

* Average debt protection metrices: KHFM's debt protection metrics
has been average due to moderate profitability and high interest
expenses. The interest coverage and net cash accrual to total debt
(NCATD) ratios were at 1.93 times and 0.07 time, in fiscal 2024.

Strengths:

* Established healthy relationships with customers in the facility
management and security services industry: KHFM is engaged in
providing facility management and security services business since
1983. Over the years, the company has expanded its presence by
adding offices across India. Also, the company has added various
additional services to improve its market position. The
longstanding presence has also helped the company to establish
strong relationships with customers, leading to healthy renewal of
tenders over the years. Furthermore, KHFM also has in-house
training facility to train employees, which helps the company
provide quality services. Demand for facility management services
in India is expected to remain healthy over the medium term, with
increasing demand for private agencies for housekeeping. However,
retention of existing sites and success in new tenders will remain
critical to any improvement in KHFM's scale of operations. KHFM's
longstanding presence and its established customer base in the
facility management and security services industry will continue to
help the company maintain its business risk profile over the medium
term.

* Comfortable capital structure: KHFM's capital structure has been
comfortable due to moderate reliance on external funds and
comfortable networth which improved to INR47.08 crore (From
INR43.83 crores a year prior) as on as on March 31, 2024, due to
rights issue and accretion to reserve over the years. As a result,
the gearing and total outside liabilities to adjusted networth
(TOLANW) ratio improved to 1.02 times and 1.19 times, respectively,
as on March 31, 2024, from 1.13 times and 1.40 times, respectively,
as on March 31, 2023. The capital structure is expected to improve
further over the medium term with steady accretion to reserve.

Liquidity: Poor

The liquidity is poor as reflected in delays in repayment
obligation on the term loan. Bank limit utilisation was high at
100% on average for the 12 months through October 2024.

Rating sensitivity factors

Upward factors:

* Timely repayment of the debt obligation continuously for at least
90 days
* Substantial increase in revenue and profitability, leading to
higher cash accrual

KHFM, formerly known as Kalpataru Hospitality And Facility
Management Services Pvt Ltd, was established in 1983 by Mr Ravindra
Hegde as a proprietary concern in the name and style of Kalpataru
Enterprises. Later, in 2006 the firm was reconstituted as a private
limited company. KHFM provides facility management services
(housekeeping), mechanised cleaning services and gardening
services. KHFM has established network of around 24 branches at
various locations in India, and has its headquarters in Mumbai. The
company is listed on the SME (small and medium enterprises)
platform of National Stock Exchange of India Ltd (NSE).


KISANVEER SATARA: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Kisanveer
Satara Sahakari Sakhar Karkhana Limited (KSSSKL) continue to be
'CRISIL D Issuer Not Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Pledge Loan             25         CRISIL D (Issuer Not
                                      Cooperating)

   Proposed Long Term     147.77      CRISIL D (Issuer Not
   Bank Loan Facility                 Cooperating)

   Term Loan               53.23      CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with KSSSKL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

KSSSKL is a cooperative sugar mill, at Bhuinj in Satara district of
Maharashtra. It was set up in 1968, by the late Mr Kisan Mahadeo
(Abasaheb) Veer and Mr Prataprao Bhosale. The society is currently
chaired by Mr Madan Bhosale.


KTC CARS: CRISIL Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of KTC Cars
India Private Limited (KCPL) continue to be 'CRISIL D/CRISIL D
Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee        8          CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit           3          CRISIL D (Issuer Not
                                    Cooperating)

   Long Term Loan        5          CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with KCPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

KCPL, incorporated in 2013, is an authorised dealer for Volkswagen
in Kerala. Its area of operations includes Thrissur, Malappuram,
Guruvayoor, and Kunnamangalam.


LAKSHMI KALAVATHI: CRISIL Keeps B Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Sri Lakshmi
Kalavathi Cotton Company (SLKCC) continue to be 'CRISIL B/Stable
Issuer not cooperating'.

                        Amount
   Facilities        (INR Crore)    Ratings
   ----------        -----------    -------
   Cash Credit &           9        CRISIL B/Stable (ISSUER NOT
   Working Capital                  COOPERATING)
   Demand Loan             
                                   
   Proposed Long Term      1        CRISIL B/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

CRISIL Ratings has been consistently following up with SLKCC for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

SLKCC was set up in 2016 as a partnership between Mr Balarama
Krishnaiah and Mrs Seetaravamma. This Guntur (Andhra Pradesh)-based
firm presses raw cotton and trades in cotton lint and seeds.


MA CHANDI: CRISIL Keeps D Ratings in Not Cooperating Category
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Ma Chandi
Durga Cement Limited (MCDCL) continue to be 'CRISIL D/CRISIL D
Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit            5         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit            5.47      CRISIL D (Issuer Not
                                    Cooperating)

   Long Term Loan        11.26      CRISIL D (Issuer Not
                                    Cooperating)
  
   Long Term Loan         8.07      CRISIL D (Issuer Not
                                    Cooperating)

   Overdraft Facility     3.20      CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with MCDCL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Incorporated in 2007, MCDCL is promoted by Mr. Kuldip Kedia. It
manufactures cement and mild steel ingots in Durgapur, West Bengal.
It also trades in iron and steel products such as
thermos-mechanically treated bars, pig iron and slag, and does job
work for firm, Star Cement.


MAA KALIKA: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Maa Kalika
Bhandar (MKB) continue to be 'CRISIL D Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           7.5        CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit          15.0        CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with MKB for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

For arriving at its rating, CRISIL Ratings has combined the
business and financial risk profiles of MKB, Kohenoor Industries
(KI), Shree Krushna Enterprises (SKE), and Dwarikamayee Bhandar
(DB). The firms, together referred to as the Maa Kalika group, are
under a common management with common customer and supplier base.
Moreover, the promoters treat the four entities as one single group
for funding and support.

The Maa Kalika group, promoted by the Odisha-based Jajodia family
is primarily engaged in wholesale trading in of agro items such as
sugar, pulses, and edible oil. Operations are primarily managed by
Mr Pawan Kumar Jajodia and his son, Mr Jay Jajodia.


MANJUSHREE HARDWARES: CRISIL Keeps D Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Manjushree
Hardwares (MH) continue to be 'CRISIL D/CRISIL D Issuer Not
Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Overdraft Facility      5.5        CRISIL D (Issuer Not
                                      Cooperating)

   Proposed Long Term      0.1        CRISIL D (Issuer Not
   Bank Loan Facility                 Cooperating)

CRISIL Ratings has been consistently following up with MH for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in 1990 in Bengaluru as a proprietorship firm, MH trades in
construction material such as paints, cement, and sanitary ware.
Operations are managed by Mr. R Shankar.


MATAJI DYEING: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Mataji Dyeing
Mills Private Limited (MDMPL) continue to be 'CRISIL D Issuer Not
Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Cash Credit             7          CRISIL D (Issuer Not
                                      Cooperating)

   Proposed Long Term      3          CRISIL D (Issuer Not
   Bank Loan Facility                 Cooperating)

CRISIL Ratings has been consistently following up with MDMPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Incorporated in 2012 by Mr Bajrang Kelania, MDMPL took over the
operations of Mataji Dyeing, a proprietary firm of the promoter.
The company is involved in weaving, dyeing, finishing, and trading
of fabrics, and is based in Pali, Rajasthan. It produces two types
of fabrics: Rubia for saree blouses and Poplin for saree
petticoats.

In fiscal 2017, the promoter started Mataji Weaving Mills for
backward integration and reducing material cost. The firm procures
yarns and outsources weaving to looms in Bhiwandi in Maharashtra.
The grey cloth is supplied to MDMPL.


MSR ENTERPRISES: CRISIL Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of MSR
Enterprises (MSR) continue to be 'CRISIL D/CRISIL D Issuer Not
Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Bank Guarantee         8         CRISIL D (Issuer Not
                                    Cooperating)

   Cash Credit            2.9       CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with MSR for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Established in 1995, MSR is engaged in laying of distribution
lines, erection of electrical substations and transformers, and
refurbishment of old distribution lines. MSR majorly caters to all
the four zonal power distribution companies of Andhra Pradesh and
derives its entire from them. The firm is promoted by Mr. M
Srinivasa Rao, a mechanical engineering graduate who manages the
operations of the firm.


MURALI ADS: CRISIL Keeps B+ Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Murali Ads
and Publicities (MAP) continue to be 'CRISIL B+/Stable Issuer not
cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           1.50       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Long Term Loan       21.00       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Long Term    2.50       CRISIL B+/Stable (ISSUER NOT
   Bank Loan Facility               COOPERATING)

CRISIL Ratings has been consistently following up with MAP for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

For arriving at the rating, CRISIL Ratings has combined the
business and financial risk profiles of MAP and Murali Residency
(MR). This is because both the entities, together referred to as
the Murali group, are under the same management team and have
common bankers.

MAP and MR are proprietorship firms of Mr. V. Krishnaswamy. MAP,
established in 1989, provides out-of-home (OOH) advertising
solutions at railway stations, for which, it is a sole licensee in
Tamil Nadu and Kerala. MR, established in 1913, manages a hotel in
Kumbakonam, Tamil Nadu.


MUTHULAXMI SPINNING: CRISIL Keeps D Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Muthulaxmi
Spinning Mills Private Limited (MSMPL) continue to be 'CRISIL
D/CRISIL D Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           6.5        CRISIL D (Issuer Not
                                    Cooperating)

   Letter of Credit      2.0        CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with MSMPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Incorporated in 1996 by Mr. Shanmugavel, MSMPL manufactures cotton
yarn of 20s to 40s counts.


NHS INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of NHS
Industries (NHS) continue to be 'CRISIL D/CRISIL D Issuer Not
Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Overdraft Facility      2.5        CRISIL D (Issuer Not
                                      Cooperating)

   Term Loan               8.4        CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with NHS for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

NHS, based in Bengaluru, was established in November 2016 as a
proprietorship firm by Mr. Bhargava Reddy. The firm manufactures
HDPE/PP (high-density polyethylene/polypropylene) woven sacks.


NIKHIL TOBACCOS: CRISIL Keeps D Debt Rating in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings has migrated the rating on bank facilities of Nikhil
Tobaccos (NT) to 'CRISIL D Issuer not cooperating'.

                      Amount
   Facilities      (INR Crore)     Ratings
   ----------      -----------     -------
   Cash Credit/         30         CRISIL D (ISSUER NOT
   Overdraft                       COOPERATING)
   facility              

CRISIL Ratings has been consistently following up with NT for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Established in 2012, NT is owned and managed by Mrs Suma Gutta. The
firm trades in tobacco and is located in Andhra Pradesh.


NILKANTH COTTON: CRISIL Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Nilkanth
Cotton Fibers (NCF) continues to be 'CRISIL D Issuer Not
Cooperating'.

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

   Proposed Long Term       5         CRISIL D (Issuer Not
   Bank Loan Facility                 Cooperating)

   Term Loan                2.25      CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with NCF for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

NCF was formed as a partnership firm by members of the Sakarvadiya
family in 2014. The firm has an operating unit at Gondal (Rajkot).


NIZAM DECCAN: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Nizam Deccan
Sugars Limited (NDSL) continue to be 'CRISIL D/CRISIL D Issuer Not
Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Cash Credit            50.7        CRISIL D (Issuer Not
                                      Cooperating)

   Cash Credit            24.6        CRISIL D (Issuer Not
                                      Cooperating)

   Cash Credit            19          CRISIL D (Issuer Not
                                      Cooperating)

   Cash Credit             9          CRISIL D (Issuer Not
                                      Cooperating)
   Letter of credit
   & Bank Guarantee        0.5        CRISIL D (Issuer Not
                                      Cooperating)
   Proposed Long Term
   Bank Loan Facility     48.09       CRISIL D (Issuer Not
                                      Cooperating)

   Term Loan              16.14       CRISIL D (Issuer Not
                                      Cooperating)

   Term Loan              17.20       CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with NDSL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

NDSL, incorporated in 2002, manufactures sugar and extra neutral
alcohol, and generates power. NDSL has three sugar plants in
Telangana. The company also has a distillery unit, and a
20-megawatt biomass-based power generation plant. Dr. G Ganga Raju
and family (promoters of the Laila group of companies) hold a 51
per cent stake in NDSL; the balance 49 per cent stake is held by
Nizam Sugars Ltd. The Laila group is engaged in diverse businesses
including sugar, paper, nutraceuticals, and education.


PAVNI (MP) SOLAR: Insolvency Resolution Process Case Summary
------------------------------------------------------------
Debtor: Pavni (MP) Solar Private Limited
        3393, 3rd Floor, Ranjet Nagar
        South Patel Nagar,
        Near Siddarth Hotel,
        Delhi - 110008

Insolvency Commencement Date: December 3, 2024

Court: National Company Law Tribunal, Mumbai Bench

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

Insolvency professional: Rahul Jindal

Interim Resolution
Professional:      Rahul Jindal
                   52/24, Ramjas Road,
                   Karol Bagh, New Delhi 110005
                   Email: jindalrahul60@gmail.com

                      -- and --

                   6772/2, Dev Nagar,
                   Karol bagh, New Delhi 110005
                   Email: cirp.pavnisolar@gmail.com

Last date for
submission of claims: December 19, 2024


PRAVEEN ELECTRICAL: CRISIL Keeps D Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Praveen
Electrical Works (PEW) continue to be 'CRISIL D/CRISIL D Issuer Not
Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Bank Guarantee          11         CRISIL D (Issuer Not
                                      Cooperating)

   Overdraft Facility       6         CRISIL D (Issuer Not
                                      Cooperating)

   Proposed Long Term       3         CRISIL D (Issuer Not
   Bank Loan Facility                 Cooperating)

CRISIL Ratings has been consistently following up with PEW for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

PEW was set up in 1994 as a sole proprietorship firm by Mr Prakash
C Angadi. The firm undertakes turnkey projects for laying
electrical cables and poles, and electrification projects. It has a
facility in Karnataka.


PRIMA KLEENSEED: CRISIL Keeps B- Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Prima
Kleenseed Processors Private Limited (PKPPL) continue to be 'CRISIL
B-/Stable Issuer not cooperating'.

                         Amount
   Facilities         (INR Crore)    Ratings
   ----------         -----------    -------
   Long Term Loan         5.03       CRISIL B-/Stable (Issuer Not
                                     Cooperating)

   Proposed Long Term     0.97       CRISIL B-/Stable (Issuer Not
   Bank Loan Facility                Cooperating)

CRISIL Ratings has been consistently following up with PKPPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in the 2014, PKPPL is into processing and conditioning of
seeds for various seed companies. Based out of Medak in Telangana,
PKPPL is promoted by Mr. KV Prasad.


PURNO-GOURI COLD: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Purno-Gouri
Cold Storage Private Limited (PGCSPL) continue to be 'CRISIL D
Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           5          CRISIL D (Issuer Not
                                    Cooperating)

   Proposed Long Term    0.86       CRISIL D (Issuer Not
   Bank Loan Facility               Cooperating)

   Term Loan             3.14       CRISIL D (Issuer Not
                                    Cooperating)

   Working Capital       1          CRISIL D (Issuer Not
   Facility                         Cooperating)

CRISIL Ratings has been consistently following up with PGCSPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

PGCSPL was incorporated in 2016 by the promoters, Mr Kartik Ghosh
and Mrs Jhulan Ghosh. The company provides cold storage services to
potato farmers and traders, and undertakes opportunistic trading in
potatoes. The unit, located in Bankura, West Bengal, has a storage
capacity of 221,000 quintals.


R. S. K. RICE: CRISIL Keeps Debt B+ Ratings in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of R. S. K. Rice
Mill (RSK) continue to be 'CRISIL B+/Stable Issuer not
cooperating'.

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

   Long Term Loan           1.3       CRISIL B+/Stable (Issuer
                                      Not Cooperating)

   Proposed Long Term       0.7       CRISIL B+/Stable (Issuer
   Bank Loan Facility                 Not Cooperating)

CRISIL Ratings has been consistently following up with RSK for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up as a partnership firm in January 2016 by Mr Nazrul Islam, Mr
Akatarl Mohammad, Mr Majbur Rahaman, Ms Jharna Begam, and Ms Yesmin
Khatun, RSK mills and processes parboiled rice. Unit in Uttar
Dinajpur, West Bengal, has installed paddy milling capacity of 100
tonne per day (tpd), which was enhanced from 48 tpd in June 2017.


RAGHAVA PROJECT: CRISIL Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings the ratings on bank facilities of Raghava Project
Constructions Private Limited (RPCPL) continue to be 'CRISIL
D/CRISIL D Issuer Not Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Bank Guarantee          3.25       CRISIL D (Issuer Not
                                      Cooperating)

   Overdraft Facility      0.75       CRISIL D (Issuer Not
                                      Cooperating)

   Overdraft Facility      2.50       CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with RPCPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

RPCPL was set up in 2012 by Mr. B Raghava Rao and Mrs. B Sudha
Rani. The company executes civil contracts in Andhra Pradesh. It is
based in Vijayawada, Andhra Pradesh.


RAJLABDHI INFRA: CRISIL Keeps D Debt Rating in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the rating on bank facilities of Rajlabdhi
Infrastructure Private Limited (RIPL) continues to be 'CRISIL D
Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Term Loan             20         CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with RIPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

RIPL was established in 2010 by Mr. Bhupendrabhai Ramanlal Patel.
The company has a presence in the residential real estate segment,
primarily in Ahmedabad and Gandhinagar. It is executing a
residential project, Rajlabdhi Heritage, in Gandhinagar, comprising
eight buildings. Mr. Patel manages RIPL's daily operations.


RANA FARMS: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Rana Farms
and Foods Private Limited (RFPL) continue to be 'CRISIL D Issuer
Not Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Cash Credit             3.6        CRISIL D (Issuer Not
                                      Cooperating)

   Long Term Loan          5          CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with RFPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in 1985 by Mr. R Ravindran, RFPL is engaged in layer farming
for production and sell of white shell eggs to wholesalers located
in Tamil Nadu, Kerala, Karnataka, Bangalore etc. The company has
its own poultry farm spread across an area of around 545acres in
Namakkal district of Tamil Nadu. Currently RFPL has egg production
capacity of around 2,00,000 eggs per day.


RASHMI STEELS: CRISIL Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Rashmi Steels
(RS) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Cash Credit             15         CRISIL D (Issuer Not
                                      Cooperating)

   Letter of Credit         0.65      CRISIL D (Issuer Not
                                      Cooperating)

   Rupee Term Loan          5.35      CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with RS for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Registered in 2001, RS is a proprietorship firm engaged in trading
of ferrous and nonferrous scrap and has recently commenced
aluminium extrusion. The firm is based out of Mumbai with its
warehousing facility located in Bhuleshwar, Mumbai and has a
factory located near Baroda, Gujarat for aluminium extrusion. The
firm is promoted by Mr. Babulal G Bohra


RAYBAN FEEDS: CRISIL Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Rayban Feeds
and Hatcheries Private Limited (RFHPL) continue to be 'CRISIL D
Issuer Not Cooperating'.

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

   Long Term Loan          11         CRISIL D (Issuer Not
                                      Cooperating)

   Proposed Long Term       2         CRISIL D (Issuer Not
   Bank Loan Facility                 Cooperating)

CRISIL Ratings has been consistently following up with RFHPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Incorporated in 2011, RFHPL is engaged in poultry farming. The
company was incorporated as a joint venture between the Elahi and
Vadivel families, based in Hapur, Uttar Pradesh,-and Coimbatore,
Tamil Nadu, respectively. It has a registered office in Coimbatore
while its poultry farming unit is in Hapur; the unit commenced
operations in fiscal 2014.


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

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

   Short Term Bank     20.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

CRISIL Ratings has been consistently following up with RRC for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in 2005 in Mainpuri, Uttar Pradesh (UP), as a partnership
firm by Mr Sandeep Kumar and Mr Chandra Pal Singh, RRC is a civil
contractor that constructs roads in UP. It primarily executes
tenders floated by state Public Works Department. RRC has also
started to bid for Railway tenders.


RISHIKESH FILAMENTS: CRISIL Keeps B+ Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Rishikesh
Filaments Private Limited (RFPL) continue to be 'CRISIL B+/Stable
Issuer not cooperating'.

                       Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           8.3        CRISIL B+/Stable (Issuer Not
                                    Cooperating)

   Long Term Loan        3.3        CRISIL B+/Stable (Issuer Not
                                    Cooperating)

   Proposed Long Term    0.4        CRISIL B+/Stable (Issuer Not
   Bank Loan Facility               Cooperating)

CRISIL Ratings has been consistently following up with RFPL for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Incorporated in 1997 and promoted by Mr. Shyamlal Agarwal, RFPL
manufactures polyester and cotton grey fabric and yarn. Currently,
operations are managed by the promoter and his son, Mr. Anil
Agarwal.


SANGHVI LAND: Liquidation Process Case Summary
----------------------------------------------
Debtor: Sanghvi Land Developer Private Limited
        98/2K R Mahatre Road West,
        Mumbai, Maharashtra,
        India 400010

Liquidation Commencement Date: November 27, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Sanjay Ramdas Mahajan
            3/3, Mohanlal Mansion,
            Bhandarkar Road,
            Matunga Central, Mumbai 400019
            Email: sanjayrmahajan@hotmail.com

                -- and --

            Orion Research and Turnaround Private Limited
            811, 8th Floor, Meadows, Sahar Plaza Complex
            Off J B Nagar/Chakala, Metro Station,
            Andheri -- Kurla Road,
            Andheri East, Mumbai 400093
            Email: sanghvilanddevelopers@gmail.com

Last date for
submission of claims: January 1, 2025


SARGAM METALS: Insolvency Resolution Process Case Summary
---------------------------------------------------------
Debtor: SARGAM Metals Pvt Ltd

        Registered Address:
        Plot No 7A, SIPCOT Industrial Park,
        Chellaperumbulimedu Village,
        Cheyyar, Tiruvannamalai, Tiruvannamalai,
        Tamil Nadu, India 631701

Insolvency Commencement Date: November 28, 2024

Court: National Company Law Tribunal, Chennai Bench

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

Insolvency professional: K.J. Vinod

Interim Resolution
Professional: K.J. Vinod
              Flat No B-602, Santha Towers,
              Paruthipattu, Avadi, Chennai PIN 600071
              Email: kjvinod05@rediffmail.com
              Email: cirpsargam@gmail.com

Last date for
submission of claims: December 12, 2024


SENTHILKUMAR WOOD: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Sri
Senthilkumar Wood Industries (SSKWI) continue to be 'CRISIL
D/CRISIL D Issuer Not Cooperating'.

                      Amount
   Facilities       (INR Crore)     Ratings
   ----------       -----------     -------
   Cash Credit           3          CRISIL D (Issuer Not
                                    Cooperating)

   Letter of Credit      7          CRISIL D (Issuer Not
                                    Cooperating)

CRISIL Ratings has been consistently following up with SSKWI for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Established in 1978 as a proprietary concern in Krishnagiri, Tamil
Nadu, by Mr Krishnan, SSKWI processes and trades in timber.
Operations are managed by his son, Mr Senthilkumar.


SOBHANA JEWELLERS: CRISIL Keeps B+ Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Sree Sobhana
Jewellers (SSJ) continue to be 'CRISIL B+/Stable Issuer not
cooperating'.

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

   Inventory Funding     11         CRISIL B+/Stable (ISSUER NOT
   Facility                         COOPERATING)

   Long Term Loan         0.5       CRISIL B+/Stable (ISSUER NOT
                                    COOPERATING)

   Proposed Cash          2.5       CRISIL B+/Stable (ISSUER NOT
   Credit Limit                     COOPERATING)

CRISIL Ratings has been consistently following up with SSJ for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in 2004, SSJ retails branded jewellery. The firm operates a
single Tanishq jewellery showroom in Guntur (Andhra Pradesh). SSJ
is promoted by Mr. RVH Pramodh and his family members.


VASAVI AGRO: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the ratings on bank facilities of Sri Vasavi
Agro Foods (SVAF) continue to be 'CRISIL D Issuer Not
Cooperating'.

                         Amount
   Facilities         (INR Crore)     Ratings
   ----------         -----------     -------
   Cash Credit             19         CRISIL D (Issuer Not
                                      Cooperating)

   Long Term Loan           2         CRISIL D (Issuer Not
                                      Cooperating)

CRISIL Ratings has been consistently following up with SVAF for
obtaining information through letter and email dated November 11,
2024 among others, apart from telephonic communication. However,
the issuer has remained non cooperative.

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

Detailed Rationale

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

Set up in fiscal 2013 as a partnership firm, SVAF processes paddy
into rice, rice bran, broken rice, and husk; it commenced
commercial production in December 2013. The rice mill is located at
Karatagi in Koppal (Karnataka). The operations are managed by the
chief partner Mr Y Vasudev Shetty.




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

AETHER PACIFIC: Man Behind Company Opens New Companies in UK
------------------------------------------------------------
Michael Wright at The Press reports that the head of embattled
medicinal cannabis company Medical Kiwi Ltd has resurfaced in the
UK with new companies and intending to "carry on the plans that we
have in place", despite the Christchurch-based firm facing
liquidation, owing creditors nearly $9 million and attracting new
attention from the Financial Markets Authority (FMA).

Investors and former staff and directors of Medical Kiwi, also
known as Aether Pacific Pharmaceuticals Ltd, this week told The
Press of their disbelief at their new venture. Medical Kiwi entered
voluntary administration last month citing "significant financial
challenges". "It absolutely disgusts me that they think they can
just carry on," The Press quotes one former investor as saying.
"They're taking all of that know-how and trying to emulate that in
Fiji without any regard for the 1000 shareholders that have lost
money. It just blows my mind."

According to The Press, executive chairperson Aldo Miccio, a former
mayor of Nelson, registered a company called Nueather Ltd in the UK
in October, along with Mohammed Khan, a Birmingham-based scientist
who was working with Medical Kiwi developing technology to produce
medicinal cannabis pills. Mr. Khan formed another UK company called
Medcankiwi Ltd in September.  Mr. Miccio's fellow Medical Kiwi
founder and director Peter Win does not appear to be involved.

Mr. Khan did not respond to questions from The Press. In a
statement on behalf of the Medical Kiwi board, Mr. Miccio did not
answer questions about the nature or purpose of the UK entities,
but said they "are not and could not be a phoenix company". The
board of the New Zealand company had been aware of the "ongoing
future UK developments", he said.

At the same time, The Press understands Financial Markets Authority
(FMA) staff have been in contact with investors, asking for
information about disclosures and representations made by the
company when acquiring shares and any evidence of "potential
misrepresentation". The FMA and Serious Fraud Office both declined
to comment this week on whether they were investigating Medical
Kiwi, The Press notes.

Damien Grant and Adam Botterill of Water Insolvency were appointed
as Aether Pacific Pharmaceuticals Limited on Nov. 20, 2024.


AKON ELECTRICAL: Creditors' Proofs of Debt Due on Jan. 6
--------------------------------------------------------
Creditors of Akon Electrical Engineering Limited are required to
file their proofs of debt by Jan. 6, 2025, to be included in the
company's dividend distribution.

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

The company's liquidators are:

          Raymond Paul Cox
          Gareth Russel Hoole
          Ecovis KGA Limited
          Level 2, 5–7 Kingdon Street
          Newmarket
          Auckland 1023


AQUA GROUP: Creditors' Proofs of Debt Due on Jan. 31
----------------------------------------------------
Creditors of Aqua Group Services Limited are required to file their
proofs of debt by Jan. 31, 2025, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Dec. 10, 2024.

The company's liquidator is:

          John Marshall Scutter
          Fervor Limited
          Level 1, 17–19 Seaview Road
          Paraparaumu Beach


BBS HORTICULTURE: Court to Hear Wind-Up Petition on March 10
------------------------------------------------------------
A petition to wind up the operations of BBS Horticulture Limited
will be heard before the High Court at Hamilton/Kirikiriroa on
March 10, 2025, at 10:45 a.m.

PGG Wrightson Limited filed the petition against the company on
Nov. 14, 2024.

The Petitioner's solicitor is:

          Mike King
          Lane Neave Lawyers
          Level 5, 141 Cambridge Terrace
          Christchurch 8013


BRIGHT BUILDERS: Court to Hear Wind-Up Petition on Feb. 14
----------------------------------------------------------
A petition to wind up the operations of Bright Builders Limited
will be heard before the High Court at Auckland on Feb. 14, 2025,
at 10:00 a.m.

The Commissioner of Inland Revenue filed the petition against the
company on Nov. 6, 2024.

The Petitioner's solicitor is:

          Hosanna Tanielu
          Inland Revenue, Legal Services
          5 Osterley Way
          Manukau City
          Auckland 2104


MYRTLE BAKERY: Award-Winning Bakery to Close on Dec. 21
-------------------------------------------------------
Radio New Zealand reports that a popular Wellington bakery has
announced its closure one week after winning a hospitality award,
while another has been put into liquidation.

Myrtle Bakery on Kent Terrace in Mount Victoria won outstanding
bakery at the 'unofficial' Welly Hospo Awards, which were hurriedly
organised after the Felix Wellington Hospitality Awards were
postponed after a challenging year in the industry.

Owners Sarah Bullock and Jacob Brown posted news of the closure on
social media, RNZ says.

"It is with a very heavy heart that we announce the closure of
Myrtle Bakery, as our cherished site is no longer available to
house us," they wrote.

"The character of the building, its unique position, and the warmth
and support of the people who visit us, are not just part of our
story - they are our story . . . Without them, we feel it is
impossible to simply relocate and remain true to who we are."

RNZ relates that the bakery had been open for three years, and its
last day will be December 21, they said.

Myrtle regularly had queues out the door. Patrons commented on the
post saying they were devastated, and that the cafe was adored.

But the owners hinted they could be on to a new project.

"This is not necessarily the last you'll see of us. Having some
downtime will undoubtedly inspire new ideas and who knows where
that might lead."

The pair also own The Larder in Miramar, where they live.

Meanwhile, Alamir Bakery - also based in Miramar - was put into
liquidation on December 3, RNZ reports citing the Companies
Office.

The company had been making pita, hummus, falafel, tahini and other
Lebanese food for three decades.

It began as The Delicious Lebanese Snack Co in a small commercial
kitchen supplying local eateries, and grew to be stocked by
supermarkets across the country from 2017, its website said.

Heath Gair from Palliser Insolvency Limited is the appointed
liquidator, RNZ discloses.

RNZ says Burmese restaurant Mabel's, which has been on Tory Street
for three years, is also closing.

Owner Marlar Boon posted on social media on Dec. 9, its last day
will be Christmas Eve.

Another Wellington store on Ghuznee Street, design, homeware and
clothing boutique Kaukau, also announced its closure on social
media on Dec. 8, RNZ adds.


PHEROMITE LIMITED: Creditors' Proofs of Debt Due on Feb. 14
-----------------------------------------------------------
Creditors of Pheromite Limited are required to file their proofs of
debt by Feb. 14, 2025, to be included in the company's dividend
distribution.

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

The company's liquidators are:

          Iain Bruce Shephard
          Jessica Jane Kellow
          BDO Wellington, Business Restructuring
          Level 1, 50 Customhouse Quay
          Wellington 6011


SUSTAINABLE FOODS: Owes Nearly NZD3 Million, Liquidators Reveal
---------------------------------------------------------------
BusinessDesk reports that liquidated plant-based food manufacturer
Sustainable Foods is nearly NZD3 million in arrears.

A summary report of the administration was published in the
Companies Office on Dec. 9, two weeks after the company, which
makes the plant line of hemp-based meat alternatives, entered
liquidation.

In their report, PWC insolvency practitioners Malcolm Hollis and
Richard Nacey said the company has NZD2.93 million in debt and
liabilities, BusinessDesk discloses.  The largest portion of the
liabilities are tied to a NZD1.4 million general security agreement
(GSA) with Crown Regional Holdings.

Malcolm Hollis and Richard Nacey of PwC were appointed as
administrators of the company on Aug. 23, 2024.




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

APPLE ASIA: Creditors' Proofs of Debt Due on Jan. 10
----------------------------------------------------
Creditors of Apple Asia Financials Pte. Ltd. are required to file
their proofs of debt by Jan. 10, 2025, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Dec. 11, 2024.

The company's liquidator is:

          Helmi Bin Ali Bin Talib
          c/o 133 Cecil Street
          #15-02 Keck Seng Tower
          Singapore 069535


FAIRWAY MAINTENANCE: Creditors' Proofs of Debt Due on Jan. 14
-------------------------------------------------------------
Creditors of Fairway Maintenance & Engineering Pte. Ltd. are
required to file their proofs of debt by Jan. 14, 2025, to be
included in the company's dividend distribution.

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

The company's liquidators are:

          Chek Khai Juat
          Tay Tuan Leng
          c/o Tricor Singapore Pte. Ltd.
          9 Raffles Place
          #26-01 Republic Plaza
          Singapore 048619


SINGH MOTORSPORTS: Court to Hear Wind-Up Petition on Dec. 27
------------------------------------------------------------
A petition to wind up the operations of Singh Motorsports Pte. Ltd.
will be heard before the High Court of Singapore on Dec. 27, 2024,
at 10:00 a.m.

DBS Bank Ltd filed the petition against the company on Dec. 6,
2024.

The Petitioner's solicitors are:

          Rajah & Tann Singapore LLP
          9 Straits View
          #06-07 Marina One West Tower
          Singapore 018937


SINGTECH IT: Court to Hear Wind-Up Petition on Dec. 27
------------------------------------------------------
A petition to wind up the operations of Singtech IT &
Communications Pte. Ltd. will be heard before the High Court of
Singapore on Dec. 27, 2024, at 10:00 a.m.

United Overseas Bank Limited filed the petition against the company
on Dec. 6, 2024.

The Petitioner's solicitors are:

          Rajah & Tann Singapore LLP
          9 Straits View
          #06-07 Marina One West Tower
          Singapore 018937


TREND TECH: Court to Hear Wind-Up Petition on Dec. 27
-----------------------------------------------------
A petition to wind up the operations of Trend Tech Consultancy Pte.
Ltd. will be heard before the High Court of Singapore on Dec. 27,
2024, at 10:00 a.m.

United Overseas Bank Limited filed the petition against the company
on Dec. 4, 2024.

The Petitioner's solicitors are:

          Rajah & Tann Singapore LLP
          9 Straits View
          #06-07 Marina One West Tower
          Singapore 018937




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

[*] SOUTH Korea: Delinquency Rate on Bank Loans Rebound in October
------------------------------------------------------------------
Yonhap News Agency reports that the delinquency rate on loans
extended by local banks rose in October due mainly to a fall in the
amount of soured loans written off by lenders, data showed on Dec.
13.

The delinquency rate on banks' won-denominated loans increased 0.03
percentage point from a month earlier to 0.48 percent as of
end-October, compared with a 0.08 percentage-point drop in
September, according to preliminary data from the Financial
Supervisory Service (FSS), Yonhap relays.

According to Yonhap, the amount of newly delinquent loans came to
KRW2.5 trillion (US$1.75 billion) in October, unchanged from the
previous month.

But the amount of write-offs of bad loans sank by KRW2.6 trillion
during the cited period, the data showed.

Yonhap says the delinquency rate on corporate loans stood at 0.56
percent at end-October, up 0.04 percentage point from a month
before.

The rate on household loans also rose 0.02 percentage point to 0.38
percent over the cited period, the FSS said.

"The policy rate cut is expected to ease the interest payment
burdens of borrowers down the road. But recent uncertainties at
home and abroad would affect vulnerable people," Yonhap quotes an
FSS official as saying, vowing efforts to minimize such impacts
through various policy measures.

Earlier this month, the Bank of Korea slashed its key rate by 25
basis points to 3.0 percent, following a quarter percentage-point
rate cut a month earlier, amid deepening concerns about an economic
slowdown, Yonhap adds.




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

THAI AIRWAYS: Finance Ministry Allots THB20BB for THAI Shares
-------------------------------------------------------------
Bangkok Post reports that the Ministry of Finance is allocating
THB20 billion to purchase additional shares in Thai Airways
International on Dec. 12, raising its stake in the national carrier
to 40% from 30%.

The purchase will allow the ministry to retain its position as the
major shareholder of the flag carrier, said Tibordee Wattanakul,
director-general of the State Enterprise Policy Office (Sepo),
Bangkok Post relays.

However, the move will not restore the company to its previous
status as a state enterprise, which would require total state
holdings exceeding 50%.

After its capital restructuring, THAI will achieve a positive
equity position, fulfilling the conditions required to exit
business rehabilitation, Bangkok Post relates. The company is
expected to exit rehabilitation by February and resume trading on
the Stock Exchange of Thailand by May.

Bangkok Post relates that under the rehabilitation plan, THAI
creditors have agreed to convert debt into equity. Following the
conversion, the ministry's stake would fall from 47.99% to 30%.
However, after the ministry and other state agencies exercise their
rights to purchase additional shares in proportion to their
holdings, their combined stake will increase to 40%.

According to Bangkok Post, Mr. Tibordee said the THB20 billion
required for the rights exercise will be sourced from revenue
generated through the ministry's asset management activities.

Additionally, the ministry has fully exercised its right to convert
debt into equity. THAI owes the ministry 70–80 billion baht,
originating from liabilities accumulated since 2020.

Bangkok Post adds that Mr. Tibordee said the advantage of
converting debt into equity is that after holding the shares for
one year, if the share price improves the ministry can sell the
shares and recover its funds. In contrast, waiting for debt
repayment could take years, even though it includes an additional
1.5% interest on the debt value.

                         About Thai Airways

Thai Airways International PCL (BAK:THAI) --
http://www.thaiairways.co.th/-- is the national carrier of
Thailand.  The company provides air transportation, freight and
mail services on domestic and international routes including Asia,
Europe, North America, Africa and South West Pacific. The Company
is a state enterprise which is controlled by the government and
partly owned by the public.

As reported in Troubled Company Reporter-Asia Pacific in May 2020,
Thailand's cabinet approved a plan to restructure troubled Thai
Airways International Pcl's finances through a bankruptcy court.
The plan for a court-led restructuring of the national carrier
replaces a previous proposal of a government-backed rescue package
that was heavily criticised in the country.

Thai Airways on May 27, 2020 said it appointed board members as
rehabilitation planners in a bankruptcy court submission.

On Sept. 14, 2020, Thailand's Central Bankruptcy Court approved
Thai Airways debt restructuring.

According to Bloomberg, the airline aims to emerge from its
debt-restructuring plan in 2025, five years after it filed for
bankruptcy protection. The state-controlled airline returned to
profit in 2023 after it had posted losses from operations every
year from 2013, which were worsened by the Covid pandemic. The
airline anticipates the resumption of stock trading in the
second-quarter of 2025.




===============
X X X X X X X X
===============

[*] BOND PRICING: For the Week Dec. 9, 2024 to Dec. 13, 2024
------------------------------------------------------------
Issuer                  Coupon    Maturity     Currency    Price
------                  ------    --------     --------    -----


   AUSTRALIA
   ---------

ACN 113 874 712 PTY     13.25    02/15/18        USD        0.22
ACN 113 874 712 PTY     13.25    02/15/18        USD        0.22
VIRGIN AUSTRALIA HO      8.00    11/26/24        AUD        0.43
VIRGIN AUSTRALIA HO      7.88    10/15/21        USD        0.39
VIRGIN AUSTRALIA HO      7.88    10/15/21        USD        0.39
VIRGIN AUSTRALIA HO      8.25    05/30/23        AUD        0.34
VIRGIN AUSTRALIA HO      8.08    03/05/24        AUD        0.34
VIRGIN AUSTRALIA HO      8.13    11/15/24        USD        0.22
VIRGIN AUSTRALIA HO      8.13    11/15/24        USD        0.21


   CHINA
   -----

ANHUI PINGTIANHU IN      7.50    08/13/26        CNY       42.11
ANHUI PINGTIANHU IN      7.50    08/13/26        CNY       40.00
ANLU CONSTRUCTION D      7.80    11/28/26        CNY       63.22
ANLU CONSTRUCTION D      7.80    11/28/26        CNY       60.00
ANNING DEVELOPMENT       8.00    12/04/25        CNY       20.77
ANNING DEVELOPMENT       8.00    12/04/25        CNY       20.74
ANNING DEVELOPMENT       8.80    09/11/25        CNY       20.72
ANSHANG WANGTONG CO      7.50    05/06/26        CNY       41.80
ANSHANG WANGTONG CO      7.50    05/06/26        CNY       41.74
ANSHUN CITY XIXIU I      8.00    01/29/26        CNY       41.36
ANSHUN CITY XIXIU I      7.90    11/15/25        CNY       40.95
ANSHUN CITY XIXIU I      8.00    01/29/26        CNY       40.67
ANYUE XINGAN CITY D      7.50    05/06/26        CNY       41.73
ANYUE XINGAN CITY D      7.50    01/30/25        CNY       20.20
ANYUE XINGAN CITY D      7.50    01/30/25        CNY       20.20
BIJIE CITY ANFANG C      7.80    01/18/26        CNY       41.29
BIJIE CITY ANFANG C      7.80    01/18/26        CNY       40.55
BIJIE QIXINGGUAN DI      8.05    08/16/25        CNY       20.75
BIJIE TIANHE URBAN       8.05    12/03/25        CNY       41.09
BIJIE TIANHE URBAN       8.05    12/03/25        CNY       40.76
CAOXIAN SHANG DU IN      7.80    10/28/26        CNY       42.55
CAOXIAN SHANG DU IN      7.80    10/28/26        CNY       42.54
CHANGDE DEYUAN INVE      7.70    06/11/25        CNY       20.60
CHANGDE DEYUAN INVE      7.70    06/11/25        CNY       20.59
CHANGDE DINGCHENG J      7.58    10/19/25        CNY       20.85
CHANGDE DINGCHENG J      7.58    10/19/25        CNY       20.84
CHENGDU GARDEN WATE      8.00    06/13/25        CNY       20.42
CHENGDU GARDEN WATE      8.00    06/13/25        CNY       20.00
CHISHUI CITY CONSTR      8.50    01/18/26        CNY       41.31
CHISHUI CITY CONSTR      8.50    01/18/26        CNY       41.28
CHONGQING HONGYE IN      7.50    12/24/26        CNY       62.96
CHONGQING JIANGLAI       7.50    10/26/25        CNY       20.87
CHONGQING JIANGLAI       7.50    10/26/25        CNY       20.00
CHONGQING NANCHUAN       7.80    08/06/26        CNY       42.08
CHONGQING SHUANGFU       7.50    09/09/26        CNY       42.44
CHONGQING THREE GOR      7.80    03/01/26        CNY       41.59
CHONGQING THREE GOR      7.80    03/01/26        CNY       40.00
CHONGQING TONGRUI A      7.50    09/18/26        CNY       42.38
CHONGQING TONGRUI A      7.50    09/18/26        CNY       40.00
CHONGQING WANSHENG       7.50    03/27/25        CNY       20.73
CHONGQING WANSHENG       7.50    03/27/25        CNY       20.28
CHONGQING WANSHENG       8.50    11/25/25        CNY       30.78
CHONGQING YUDIAN ST      8.00    11/30/25        CNY       41.08
CHUYING AGRO-PASTOR      8.80    06/26/19        CNY        1.00
DALI URBAN DEVELOPM      8.00    12/25/25        CNY       41.87
DALI URBAN DEVELOPM      8.00    12/25/25        CNY       41.23
DAWA COUNTY CITY CO      7.80    01/30/26        CNY       41.33
DAWA COUNTY CITY CO      7.80    01/30/26        CNY       38.80
DAWU COUNTY URBAN C      7.50    09/20/26        CNY       42.35
DAWU COUNTY URBAN C      7.50    09/20/26        CNY       40.00
DING NAN CITY CONST      7.80    04/08/26        CNY       41.42
DING NAN CITY CONST      7.80    04/08/26        CNY       40.00
DUJIANGYAN NEW CITY      7.80    10/11/25        CNY       20.78
DUJIANGYAN NEW CITY      7.80    10/11/25        CNY       20.50
DUJIANGYAN NEW CITY      7.80    05/02/25        CNY       20.45
DUJIANGYAN NEW CITY      7.80    05/02/25        CNY       20.00
DUJIANGYAN XINGYAN       7.50    11/01/26        CNY       42.69
FANGCHENG GANGSHI W      7.93    12/25/25        CNY       21.05
FANGCHENG GANGSHI W      7.95    10/11/25        CNY       20.91
FANGCHENG GANGSHI W      7.93    12/25/25        CNY       20.00
FANGCHENG GANGSHI W      7.95    10/11/25        CNY       20.00
FANTASIA GROUP CHIN      7.50    06/30/28        CNY       73.70
FANTASIA GROUP CHIN      7.80    06/30/28        CNY       44.53
FUJIAN FUSHENG GROU      7.90    12/17/21        CNY       70.99
FUJIAN FUSHENG GROU      7.90    11/19/21        CNY       60.00
FUZHOU LINCHUAN URB      8.00    02/26/26        CNY       41.56
GANZHOU NANKANG DIS      8.00    01/23/26        CNY       41.32
GANZHOU NANKANG DIS      8.00    01/23/26        CNY       40.00
GANZHOU NANKANG DIS      8.00    10/29/25        CNY       20.92
GANZHOU NANKANG DIS      8.00    09/27/25        CNY       20.84
GANZHOU NANKANG DIS      8.00    10/29/25        CNY       20.00
GANZHOU NANKANG DIS      8.00    09/27/25        CNY       20.00
GANZHOU ZHANGGONG C      7.80    10/16/25        CNY       22.68
GANZHOU ZHANGGONG C      7.80    10/16/25        CNY       20.88
GOME APPLIANCE CO L      7.80    12/21/24        CNY       37.00
GUANGAN XINHONG INV      7.50    06/03/26        CNY       43.09
GUANGAN XINHONG INV      7.50    06/03/26        CNY       41.83
GUANGDONG PEARL RIV      7.50    10/26/26        CNY       18.03
GUANGXI BAISE EXPER      7.59    01/08/26        CNY       41.16
GUANGXI BAISE EXPER      7.60    12/24/25        CNY       41.04
GUANGXI BAISE EXPER      7.60    12/24/25        CNY       40.00
GUANGXI BAISE EXPER      7.59    01/08/26        CNY       39.39
GUANGXI CHONGZUO UR      8.50    09/26/25        CNY       20.97
GUANGXI CHONGZUO UR      8.50    09/26/25        CNY       20.96
GUANGXI NINGMING HU      8.50    11/05/26        CNY       43.19
GUANGXI NINGMING HU      8.50    11/05/26        CNY       42.46
GUANGXI NINGMING HU      8.50    12/07/25        CNY       40.93
GUANGXI TIANDONG CO      7.50    06/04/27        CNY       40.00
GUANGYUAN CITY DEVE      7.50    10/25/27        CNY       26.89
GUANGYUAN YUANQU CH      7.50    07/15/26        CNY       74.02
GUANGYUAN YUANQU CO      7.50    12/23/26        CNY       62.88
GUANGYUAN YUANQU CO      7.50    10/30/26        CNY       61.77
GUANGYUAN YUANQU CO      7.50    12/23/26        CNY       60.00
GUANGYUAN YUANQU CO      7.50    10/30/26        CNY       40.00
GUANGZHOU FINELAND      13.60    07/27/23        USD        0.73
GUCHENG CONSTRUCTIO      7.88    04/27/25        CNY       20.38
GUCHENG CONSTRUCTIO      7.88    04/27/25        CNY       20.00
GUIXI STATE OWNED H      7.50    09/17/26        CNY       43.42
GUIXI STATE OWNED H      7.50    09/17/26        CNY       42.41
GUIYANG BAIYUN INDU      7.50    03/06/26        CNY       41.44
GUIYANG BAIYUN INDU      7.50    03/06/26        CNY       40.62
GUIYANG BAIYUN INDU      8.30    03/21/25        CNY       20.46
GUIYANG BAIYUN INDU      8.30    03/21/25        CNY       20.31
GUIYANG ECONOMIC DE      7.50    04/30/26        CNY       41.38
GUIYANG ECONOMIC DE      7.90    10/29/25        CNY       20.94
GUIYANG ECONOMIC DE      7.90    10/29/25        CNY       20.82
GUIYANG ECONOMIC TE      7.80    04/30/26        CNY       41.83
GUIYANG ECONOMIC TE      7.80    04/30/26        CNY       41.80
GUIYANG HI-TECH HOL      8.00    11/25/26        CNY       62.33
GUIYANG HI-TECH HOL      8.00    11/25/26        CNY       60.27
GUIZHOU CHANGSHUN C      8.50    03/19/26        CNY       41.85
GUIZHOU CHANGSHUN C      8.50    03/19/26        CNY       40.00
GUIZHOU EAST LAKE C      8.00    12/07/25        CNY       41.10
GUIZHOU EAST LAKE C      8.00    12/07/25        CNY       40.57
GUIZHOU GUIAN DEVEL      7.60    04/26/25        CNY        5.90
GUIZHOU HONGGUO ECO      7.80    02/08/25        CNY       20.23
GUIZHOU HONGGUO ECO      7.80    02/08/25        CNY       20.10
GUIZHOU HONGGUO ECO      7.80    11/24/24        CNY       20.03
GUIZHOU HONGGUO ECO      7.80    11/24/24        CNY       10.50
GUIZHOU JINFENGHUAN      7.60    08/19/26        CNY       42.26
GUIZHOU JINFENGHUAN      7.60    08/19/26        CNY       41.50
GUIZHOU SHUANGLONG       7.50    04/20/30        CNY       60.00
GUIZHOU SHUICHENG E      7.50    10/26/25        CNY       20.86
GUIZHOU SHUICHENG E      7.50    10/26/25        CNY       19.50
GUIZHOU SHUICHENG W      8.00    11/27/25        CNY       40.47
GUIZHOU SHUICHENG W      8.00    11/27/25        CNY       40.46
GUIZHOU ZHONGSHAN D      8.00    03/18/29        CNY       70.00
HAIAN URBAN DEMOLIT      8.00    12/21/25        CNY       41.19
HAIAN URBAN DEMOLIT      7.74    05/02/25        CNY       20.42
HENGYANG CITY AND U      7.80    12/14/24        CNY       20.09
HENGYANG CITY AND U      7.80    12/14/24        CNY       20.09
HONGAN URBAN DEVELO      7.50    12/04/24        CNY       20.06
HONGAN URBAN DEVELO      7.50    12/04/24        CNY       20.00
HUAINAN SHAN NAN DE      7.94    04/01/26        CNY       41.91
HUAINAN SHAN NAN DE      7.94    04/01/26        CNY       40.00
HUAINAN URBAN CONST      7.58    02/12/26        CNY       41.50
HUAINAN URBAN CONST      7.50    03/20/25        CNY       20.36
HUAINAN URBAN CONST      7.50    03/20/25        CNY       20.00
HUBEI DAYE LAKE HIG      7.50    04/01/26        CNY       41.36
HUBEI JIAKANG CONST      7.80    12/19/25        CNY       40.96
HUBEI YILING ECONOM      7.50    12/02/26        CNY       61.16
HUBEI YILING ECONOM      7.50    03/28/26        CNY       41.63
HUBEI YILING ECONOM      7.50    03/28/26        CNY       40.00
HUNAN CHUZHISHENG H      7.50    03/27/26        CNY       41.48
HUNAN CHUZHISHENG H      7.50    03/27/26        CNY       40.00
HUNAN MEISHAN RESOU      8.00    03/21/26        CNY       41.73
HUNAN MEISHAN RESOU      8.00    03/21/26        CNY       40.00
HUNAN TIANYI RONGTO      8.00    10/24/25        CNY       20.97
HUNAN TIANYI RONGTO      8.00    10/24/25        CNY       20.97
HUNAN TIANYI RONGTO      7.50    09/17/25        CNY       20.79
HUNAN XUANDA CONSTR      7.50    01/24/26        CNY       41.26
HUNAN XUANDA CONSTR      7.50    01/23/26        CNY       41.19
HUNAN XUANDA CONSTR      7.50    01/24/26        CNY       40.00
HUNAN XUANDA CONSTR      7.50    01/23/26        CNY       40.00
HUZHOU NEW CITY INV      7.50    11/23/24        CNY       20.03
HUZHOU NEW CITY INV      7.50    11/23/24        CNY       20.00
HUZHOU WUXING NANTA      7.90    09/20/25        CNY       20.92
JIA COUNTY DEVELOPM      7.50    01/21/27        CNY       62.77
JIA COUNTY DEVELOPM      7.50    01/21/27        CNY       58.00
JIAHE ZHUDU DEVELOP      7.50    03/13/25        CNY       20.31
JIAHE ZHUDU DEVELOP      7.50    03/13/25        CNY       20.00
JIANGSU YANGKOU POR      7.60    08/17/25        CNY       22.50
JIANGSU YANGKOU POR      7.60    08/17/25        CNY       20.70
JIANGSU ZHONGNAN CO      7.80    03/17/29        CNY       44.19
JIANGXI HUANGGANGSH      7.90    01/25/26        CNY       41.07
JIANGXI HUANGGANGSH      7.90    10/08/25        CNY       20.68
JIANGXI HUANGGANGSH      7.90    10/08/25        CNY       20.68
JIANGXI JIHU DEVELO      7.50    04/10/25        CNY       20.37
JIANGXI JIHU DEVELO      7.50    04/10/25        CNY       20.00
JIANGXI TONGGU CITY      7.50    04/21/27        CNY       63.89
JIANGYOU XINGYI PAR      7.50    05/07/26        CNY       51.81
JIANGYOU XINGYI PAR      7.80    12/17/25        CNY       51.00
JIANLI FENGYUAN CIT      7.50    01/14/26        CNY       41.17
JIANLI FENGYUAN CIT      7.50    01/14/26        CNY       40.00
JILIN ECONOMY TECHN      8.00    03/26/28        CNY       62.59
JILIN ECONOMY TECHN      8.00    03/26/28        CNY       59.21
JINING NEW CITY DEV      7.60    03/23/25        CNY       20.21
JINING NEW CITY DEV      7.60    03/23/25        CNY       20.00
JINXIANG COUNTY CIT      7.50    03/20/26        CNY       41.54
JINXIANG COUNTY CIT      7.50    03/20/26        CNY       40.92
JINZHOU CIHANG GROU      9.00    04/05/20        CNY       33.63
KAILI GUIZHOU TOWN       7.98    03/30/27        CNY       64.06
KAILI GUIZHOU TOWN       7.98    03/30/27        CNY       64.05
KAIYUAN CITY XINGYU      7.50    09/22/27        CNY       64.69
KAIYUAN CITY XINGYU      7.50    09/22/27        CNY       64.36
LAOTING INVESTMENT       7.50    04/11/26        CNY       41.64
LAOTING INVESTMENT       7.50    04/11/26        CNY       39.80
LIJIN CITY CONSTRUC      7.50    04/26/26        CNY       41.72
LIJIN CITY CONSTRUC      7.50    12/20/25        CNY       41.09
LIJIN CITY CONSTRUC      7.50    04/26/26        CNY       40.00
LIJIN CITY CONSTRUC      7.50    12/20/25        CNY       40.00
LINFEN YAODU DISTRI      7.50    09/19/25        CNY       20.78
LINYI COUNTY CITY D      7.78    03/21/25        CNY       20.35
LINYI COUNTY CITY D      7.78    03/21/25        CNY       20.00
LINYI ZHENDONG CONS      7.50    12/06/25        CNY       41.00
LINYI ZHENDONG CONS      7.50    11/26/25        CNY       41.00
LINYI ZHENDONG CONS      7.50    12/06/25        CNY       40.83
LINYI ZHENDONG CONS      7.50    11/26/25        CNY       40.79
LIUPANSHUI AGRICULT      8.00    04/26/27        CNY       59.40
LIUPANSHUI AGRICULT      8.00    04/26/27        CNY       59.39
LONGNAN ECO&TECH DE      7.50    07/26/26        CNY       42.04
LUANCHUAN COUNTY TI      8.50    01/23/26        CNY       41.47
LUANCHUAN COUNTY TI      8.50    01/23/26        CNY       40.00
LUOHE ECONOMIC DEVE      7.50    12/18/25        CNY       41.09
LUOHE ECONOMIC DEVE      7.50    12/18/25        CNY       41.03
LUOYANG XIYUAN STAT      7.80    01/29/26        CNY       41.40
LUOYANG XIYUAN STAT      7.80    01/29/26        CNY       41.20
LUOYANG XIYUAN STAT      7.50    11/15/25        CNY       41.13
LUOYANG XIYUAN STAT      7.50    11/15/25        CNY       40.79
MAANSHAN NINGBO INV      7.50    04/18/26        CNY       41.65
MAANSHAN NINGBO INV      7.80    11/29/25        CNY       41.01
MAANSHAN NINGBO INV      7.80    11/29/25        CNY       41.00
MAANSHAN NINGBO INV      7.50    04/18/26        CNY       16.00
MEISHAN CITY DONGPO      8.00    01/03/26        CNY       41.26
MEISHAN CITY DONGPO      8.00    01/03/26        CNY       40.00
MEISHAN CITY DONGPO      8.08    08/16/25        CNY       20.77
MEISHAN CITY DONGPO      8.08    08/16/25        CNY       20.00
MEISHAN HONGSHUN PA      7.50    12/10/25        CNY       51.41
MENGZHOU INVESTMENT      8.00    11/06/25        CNY       20.96
MENGZHOU INVESTMENT      8.00    09/03/25        CNY       20.79
MENGZHOU INVESTMENT      8.00    11/06/25        CNY       20.00
MENGZHOU INVESTMENT      8.00    09/03/25        CNY       20.00
MENGZI CITY DEVELOP      8.00    03/25/26        CNY       42.25
MENGZI CITY DEVELOP      8.00    03/25/26        CNY       41.62
MIAN YANG ECONOMIC       8.00    09/29/26        CNY       42.63
MIAN YANG ECONOMIC       8.20    03/15/26        CNY       41.65
MIAN YANG ECONOMIC       8.00    09/29/26        CNY       40.00
MIAN YANG ECONOMIC       8.20    03/15/26        CNY       40.00
MIANYANG ANZHOU INV      7.90    11/25/26        CNY       62.98
MIANYANG ANZHOU INV      7.90    11/25/26        CNY       60.00
MIANYANG ANZHOU INV      8.10    11/22/25        CNY       41.06
MIANYANG ANZHOU INV      8.10    11/22/25        CNY       40.00
MIANYANG ANZHOU INV      8.10    05/04/25        CNY       20.49
MIANYANG ANZHOU INV      8.10    05/04/25        CNY       20.25
MIANYANG HUIDONG IN      8.10    04/28/25        CNY       20.48
MIANYANG HUIDONG IN      8.10    02/10/25        CNY       20.27
MIANZHU CITY JINSHE      7.87    12/18/25        CNY       41.15
MIANZHU CITY JINSHE      7.87    12/18/25        CNY       41.13
MILE AGRICULTURAL I      7.60    02/27/26        CNY       41.40
MILE AGRICULTURAL I      7.60    02/27/26        CNY       41.00
MILE AGRICULTURAL I      8.00    10/25/25        CNY       20.88
MILE AGRICULTURAL I      8.00    10/25/25        CNY       20.28
MUDANJIANG LONGSHEN      7.50    09/27/25        CNY       20.79
NANCHONG JIALING DE      7.98    05/23/25        CNY       20.54
NANCHONG JIALING DE      7.80    12/12/24        CNY       20.09
NANCHONG JIALING DE      7.80    12/12/24        CNY       20.08
NANCHONG JIALING DE      7.98    05/23/25        CNY       20.00
NINGXIA SHENG YAN I      7.50    09/27/28        CNY       42.45
PANJIN CITY SHUANGT      8.50    01/29/26        CNY       41.50
PANJIN CITY SHUANGT      8.50    01/29/26        CNY       41.49
PANJIN CITY SHUANGT      8.70    12/20/25        CNY       41.34
PANJIN CITY SHUANGT      8.70    12/20/25        CNY       41.33
PANJIN LIAODONGWAN       7.50    12/28/26        CNY       62.98
PEIXIAN ECONOMIC DE      7.51    11/04/26        CNY       42.47
PEIXIAN ECONOMIC DE      7.51    11/04/26        CNY       40.00
PENGSHAN DEVELOPMEN      7.98    05/03/25        CNY       21.59
PENGSHAN DEVELOPMEN      7.98    05/03/25        CNY       20.48
PENGZE CITY DEVELOP      7.60    08/31/25        CNY       20.75
PENGZE CITY DEVELOP      7.60    08/31/25        CNY       20.75
PINGLIANG CHENGXIAN      7.80    03/29/26        CNY       41.62
PINGLIANG CHENGXIAN      7.80    03/29/26        CNY       41.40
PUDING YELANG STATE      8.00    03/13/25        CNY       20.22
PUDING YELANG STATE      8.00    03/13/25        CNY       20.07
PUDING YELANG STATE      7.79    11/13/24        CNY       20.01
PUER CITY SI MAO GU      7.50    03/14/26        CNY       41.91
PUER CITY SI MAO GU      7.50    03/14/26        CNY       41.44
QIANDONGNAN TRANSPO      8.00    01/15/27        CNY       63.43
QIANDONGNAN TRANSPO      8.00    01/15/27        CNY       63.42
QIANNANZHOU INVESTM      8.00    01/02/26        CNY       41.23
QIANXINAN AUTONOMOU      8.00    06/22/27        CNY       63.89
QIANXINAN PREFECTUR      7.99    06/10/27        CNY       62.96
QIANXINAN PREFECTUR      7.99    06/10/27        CNY       60.00
QIANXINAN WATER RES      7.50    09/25/27        CNY       64.94
QIANXINAN WATER RES      7.50    09/25/27        CNY       64.93
QINGHAI PROVINCIAL       7.88    03/22/21        USD        1.58
QINGZHEN CITY CONST      7.50    03/18/26        CNY       41.47
QINGZHEN CITY CONST      7.50    03/18/26        CNY       41.46
QINGZHOU HONGYUAN P      7.60    06/17/27        CNY       48.25
QINGZHOU HONGYUAN P      7.60    06/17/27        CNY       48.23
QINZHOU BINHAI NEW       7.70    08/15/26        CNY       42.38
QINZHOU BINHAI NEW       7.70    08/15/26        CNY       42.37
QUJING CITY QILIN D      8.50    01/21/26        CNY       41.47
QUJING CITY QILIN D      8.50    01/21/26        CNY       40.00
RENHUAI WATER INVES      8.00    12/26/25        CNY       40.73
RENHUAI WATER INVES      7.98    07/26/25        CNY       20.68
RENHUAI WATER INVES      7.98    02/24/25        CNY       20.15
RUCHENG SHUNXING IN      7.50    01/07/26        CNY       41.20
RUCHENG SHUNXING IN      7.50    01/07/26        CNY       40.00
RUDONG NEW WORLD IN      7.50    12/06/26        CNY       63.00
RUDONG NEW WORLD IN      7.50    12/06/26        CNY       60.00
RUILI RENLONG INVES      8.00    09/20/26        CNY       42.05
SHAANXI XIYUE HUASH      7.50    12/27/26        CNY       62.88
SHAANXI XIYUE HUASH      7.50    12/27/26        CNY       62.30
SHANDONG HONGHE HOL      7.50    01/29/26        CNY       41.14
SHANDONG OCEAN CULT      7.50    04/25/26        CNY       41.64
SHANDONG OCEAN CULT      7.50    03/28/26        CNY       41.56
SHANDONG RENCHENG R      7.50    01/23/26        CNY       41.07
SHANDONG RUYI TECHN      7.90    09/18/23        CNY       52.10
SHANDONG SANXING GR      7.90    08/30/27        CNY       58.00
SHANDONG URBAN CAPI      7.50    04/12/26        CNY       41.55
SHANDONG URBAN CAPI      7.50    04/12/26        CNY       40.00
SHANGLI GANXIANG CI      7.80    01/22/26        CNY       41.10
SHANGLI GANXIANG CI      7.80    01/22/26        CNY       40.49
SHANGLI GANXIANG CI      7.50    06/01/25        CNY       20.47
SHANGLI GANXIANG CI      7.50    06/01/25        CNY       20.42
SHANGRAO GUANGXIN U      7.95    07/24/25        CNY       20.67
SHANGRAO GUANGXIN U      7.95    07/24/25        CNY       20.67
SHANXI JINZHONG STA      7.50    05/05/26        CNY       41.73
SHAOYANG SAISHUANGQ      8.00    11/28/25        CNY       41.03
SHAOYANG SAISHUANGQ      8.00    11/28/25        CNY       40.00
SHEHONG STATE OWNED      7.60    10/25/25        CNY       20.88
SHEHONG STATE OWNED      7.60    10/22/25        CNY       20.87
SHEHONG STATE OWNED      7.50    08/22/25        CNY       20.71
SHEHONG STATE OWNED      7.60    10/25/25        CNY       20.00
SHEHONG STATE OWNED      7.60    10/22/25        CNY       20.00
SHEHONG STATE OWNED      7.50    08/22/25        CNY       20.00
SHENWU ENVIRONMENTA      9.00    03/14/19        CNY       12.00
SHEYANG URBAN CONST      7.80    11/27/24        CNY       20.03
SHEYANG URBAN CONST      7.80    11/27/24        CNY       20.03
SHIFANG CITY NATION      8.00    12/05/25        CNY       41.09
SHIFANG CITY NATION      8.00    12/05/25        CNY       40.00
SHIYAN CITY CHENGTO      7.80    02/13/26        CNY       44.82
SHUANGYASHAN DADI C      8.50    12/16/26        CNY       63.53
SHUANGYASHAN DADI C      8.50    12/16/26        CNY       63.52
SHUANGYASHAN DADI C      8.50    08/26/26        CNY       42.77
SHUANGYASHAN DADI C      8.50    08/26/26        CNY       42.76
SHUANGYASHAN DADI C      8.50    04/30/26        CNY       42.08
SHUANGYASHAN DADI C      8.50    04/30/26        CNY       42.07
SHUOZHOU INVESTMENT      7.80    12/25/25        CNY       41.14
SHUOZHOU INVESTMENT      7.80    12/25/25        CNY       41.12
SHUOZHOU INVESTMENT      7.50    10/23/25        CNY       21.60
SHUOZHOU INVESTMENT      7.50    10/23/25        CNY       20.93
SICHUAN CHENG'A DEV      7.50    11/29/24        CNY       20.04
SICHUAN CHENG'A DEV      7.50    11/29/24        CNY       20.00
SICHUAN COAL INDUST      7.70    01/09/18        CNY       45.00
SICHUAN LANGUANG DE      7.50    07/23/22        CNY       42.00
SICHUAN LANGUANG DE      7.50    08/12/21        CNY       12.63
SICHUAN LANGUANG DE      7.50    07/11/21        CNY       12.63
SIYANG JIADING INDU      7.50    12/14/25        CNY       41.86
SIYANG JIADING INDU      7.50    12/14/25        CNY       41.00
SIYANG JIADING INDU      7.50    04/27/25        CNY       20.40
SIYANG JIADING INDU      7.50    04/27/25        CNY       20.40
TAHOE GROUP CO LTD       7.50    08/15/20        CNY       24.00
TAHOE GROUP CO LTD       8.50    08/02/21        CNY        2.37
TAHOE GROUP CO LTD       7.50    10/10/20        CNY        2.20
TAHOE GROUP CO LTD       7.50    09/19/21        CNY        2.17
TAIXING CITY CHENGX      7.60    04/24/26        CNY       41.78
TAIXING CITY CHENGX      7.60    04/04/26        CNY       41.69
TAIXING CITY CHENGX      7.80    03/05/26        CNY       41.49
TAIXING CITY CHENGX      7.60    04/24/26        CNY       40.00
TAIXING CITY CHENGX      7.60    04/04/26        CNY       40.00
TAIXING CITY CHENGX      7.80    03/05/26        CNY       40.00
TAIXING XINGHUANG I      8.50    11/15/25        CNY       40.82
TAIXING XINGHUANG I      8.50    11/15/25        CNY       39.59
TAIZHOU FENGCHENGHE      7.90    12/29/24        CNY       20.12
TAIZHOU FENGCHENGHE      7.90    12/29/24        CNY       20.00
TAIZHOU HUACHENG ME      8.50    12/26/25        CNY       41.36
TAIZHOU HUACHENG ME      8.50    12/26/25        CNY       40.00
TANCHENG COUNTY CIT      7.50    04/09/26        CNY       41.58
TANCHENG COUNTY CIT      7.50    04/09/26        CNY       40.00
TANGSHAN HOLDING DE      7.60    05/16/25        CNY       20.48
TANGSHAN HOLDING DE      7.60    05/16/25        CNY       20.35
TAOYUAN COUNTY CONS      8.00    10/17/26        CNY       42.83
TAOYUAN COUNTY CONS      7.50    09/11/26        CNY       42.42
TAOYUAN COUNTY CONS      8.00    10/17/26        CNY       40.00
TAOYUAN COUNTY CONS      7.50    09/11/26        CNY       40.00
TAOYUAN COUNTY ECON      8.20    09/06/25        CNY       21.25
TAOYUAN COUNTY ECON      8.20    09/06/25        CNY       20.86
TEMPUS GROUP CO LTD      7.50    06/07/20        CNY        2.00
TENGCHONG SHIXINGBA      7.50    05/05/26        CNY       51.56
TIANJIN REAL ESTATE      7.70    03/16/21        CNY       21.49
TONGCHENG CITY CONS      7.50    07/23/25        CNY       20.64
TONGCHENG CITY CONS      7.50    07/23/25        CNY       20.00
TONGHUA FENGYUAN IN      7.80    04/30/26        CNY       41.70
TONGHUA FENGYUAN IN      8.00    12/18/25        CNY       41.17
TONGHUA FENGYUAN IN      7.80    04/30/26        CNY       41.16
TONGHUA FENGYUAN IN      8.00    12/18/25        CNY       40.00
TONGREN WATER GROUP      8.00    11/29/28        CNY       73.50
TONGXIANG CHONGDE I      7.88    11/29/25        CNY       41.70
TONGXIANG CHONGDE I      7.88    11/29/25        CNY       41.10
TUNGHSU GROUP CO LT      8.18    10/25/21        CNY       22.00
WEIHAI LANCHUANG CO      7.70    10/11/25        CNY       20.90
WEIHAI LANCHUANG CO      7.70    10/11/25        CNY       20.82
WEIHAI WENDENG URBA      7.50    03/04/29        CNY       73.00
WEIHAI WENDENG URBA      7.70    05/02/28        CNY       64.19
WEIHAI WENDENG URBA      7.70    05/02/28        CNY       62.50
WEINAN CITY INDUSTR      7.50    06/30/27        CNY       63.67
WEINAN CITY INDUSTR      7.50    06/30/27        CNY       60.00
WEINAN CITY INDUSTR      7.50    04/28/26        CNY       41.63
WEINAN CITY INDUSTR      7.50    04/28/26        CNY       40.00
WINTIME ENERGY GROU      7.50    04/04/21        CNY       43.63
WINTIME ENERGY GROU      7.90    03/29/21        CNY       43.63
WINTIME ENERGY GROU      7.90    12/22/20        CNY       43.63
WINTIME ENERGY GROU      7.50    12/06/20        CNY       43.63
WINTIME ENERGY GROU      7.50    11/16/20        CNY       43.63
WINTIME ENERGY GROU      7.70    11/15/20        CNY       43.63
WUSU CITY XINGRONG       7.50    10/25/25        CNY       20.82
WUSU CITY XINGRONG       7.50    10/25/25        CNY       20.00
WUXUE URBAN CONSTRU      7.50    04/12/26        CNY       41.46
WUXUE URBAN CONSTRU      7.50    04/12/26        CNY       40.00
WUZHOU CANGHAI CONS      8.00    05/31/28        CNY       64.79
WUZHOU CITY CONSTRU      7.90    03/26/29        CNY       73.20
XIAN LINTONG URBAN       7.69    04/22/26        CNY       41.73
XIAN LINTONG URBAN       7.69    04/22/26        CNY       40.00
XIFENG COUNTY URBAN      8.00    03/14/26        CNY       41.29
XINFENG COUNTY URBA      7.80    04/16/26        CNY       41.88
XINFENG COUNTY URBA      7.80    04/16/26        CNY       41.81
XINFENG COUNTY URBA      7.80    12/05/25        CNY       41.14
XINFENG COUNTY URBA      7.80    12/05/25        CNY       40.00
XINGYI XINHENG URBA      8.00    11/21/25        CNY       40.90
XINGYI XINHENG URBA      8.00    11/21/25        CNY       40.61
XINGYI XINHENG URBA      7.90    01/31/25        CNY       20.11
XINGYI XINHENG URBA      7.90    01/31/25        CNY       20.00
XINPING URBAN DEVEL      7.70    01/24/26        CNY       41.30
XINYU CITY YUSHUI D      7.50    09/24/26        CNY       42.49
XIPING COUNTY INDUS      7.50    12/26/24        CNY       20.11
XIPING COUNTY INDUS      7.50    12/26/24        CNY       20.00
XUZHOU CITY JIAWANG      7.98    05/06/26        CNY       41.92
XUZHOU CITY JIAWANG      7.88    01/28/26        CNY       40.58
XUZHOU CITY JIAWANG      7.98    05/06/26        CNY       40.50
XUZHOU CITY JIAWANG      7.88    01/28/26        CNY       40.45
YANCHENG URBANIZATI      7.50    03/04/27        CNY       63.65
YANGLING URBAN RURA      7.80    06/19/26        CNY       42.11
YANGLING URBAN RURA      7.80    02/20/26        CNY       41.46
YANGLING URBAN RURA      7.80    06/19/26        CNY       40.00
YANGLING URBAN RURA      7.80    02/20/26        CNY       40.00
YIBIN NANXI CAIYUAN      8.10    11/28/25        CNY       41.19
YIBIN NANXI CAIYUAN      8.10    11/28/25        CNY       41.10
YIBIN NANXI CAIYUAN      8.10    07/24/25        CNY       20.58
YIBIN NANXI CAIYUAN      8.10    07/24/25        CNY       20.00
YICHANG CHUANGYUAN       7.80    11/06/25        CNY       20.96
YINGKOU BEIHAI NEW       7.98    01/25/25        CNY       20.21
YINGKOU BEIHAI NEW       7.98    01/25/25        CNY       20.21
YINGTAN JUNENG INVE      8.00    05/06/26        CNY       41.99
YINGTAN JUNENG INVE      8.00    05/06/26        CNY       40.00
YIYANG COUNTY CITY       7.90    11/05/25        CNY       40.96
YIYANG COUNTY CITY       7.90    11/05/25        CNY       22.01
YIYANG COUNTY CITY       7.50    06/07/25        CNY       20.50
YIYANG COUNTY CITY       7.50    06/07/25        CNY       20.00
YIYANG LONGLING CON      7.60    01/23/26        CNY       41.14
YIYANG LONGLING CON      7.60    01/23/26        CNY       40.30
YIYUAN HONGDING ASS      7.50    08/17/25        CNY       21.15
YIYUAN HONGDING ASS      7.50    08/17/25        CNY       20.67
YONGAN STATE-OWNED       8.50    11/26/25        CNY       41.15
YONGAN STATE-OWNED       8.50    11/26/25        CNY       40.00
YONGCHENG COAL & EL      7.50    02/02/21        CNY       39.88
YONGXIU CITY CONSTR      7.80    08/27/25        CNY       20.60
YONGXIU CITY CONSTR      7.50    05/02/25        CNY       20.32
YONGXIU CITY CONSTR      7.80    08/27/25        CNY       20.00
YONGXIU CITY CONSTR      7.50    05/02/25        CNY       20.00
YOUYANG COUNTY TAOH      7.50    09/28/25        CNY       20.79
YUANJIANG CITY CONS      7.50    01/18/26        CNY       41.23
YUANJIANG CITY CONS      7.50    01/18/26        CNY       41.22
YUDU ZHENXING INVES      7.50    05/03/25        CNY       20.49
YUDU ZHENXING INVES      7.50    05/03/25        CNY       20.41
YUEYANG CITY JUNSHA      7.96    03/13/27        CNY       63.92
YUEYANG CITY JUNSHA      7.96    03/13/27        CNY       60.51
YUEYANG CITY JUNSHA      7.96    04/23/26        CNY       41.77
YUEYANG CITY JUNSHA      7.96    04/23/26        CNY       40.00
YUEYANG HUILIN INVE      7.50    12/23/26        CNY       62.85
YUEYANG HUILIN INVE      7.50    12/23/26        CNY       60.00
YUSHEN ENERGY DEVEL      7.50    05/07/27        CNY       63.90
YUSHEN ENERGY DEVEL      7.50    05/07/27        CNY       60.00
YUTAI XINDA ECONOMI      7.50    04/10/26        CNY       41.58
ZHANGJIAJIE LOULI T      7.50    03/26/26        CNY       41.56
ZHANGJIAJIE LOULI T      7.50    03/26/26        CNY       41.55
ZHANGZI NATIONAL OW      7.50    10/18/26        CNY       42.52
ZHANGZI NATIONAL OW      7.50    10/18/26        CNY       40.00
ZHEJIANG CHANGXING       7.50    05/16/26        CNY       41.74
ZHEJIANG CHANGXING       7.50    05/16/26        CNY       41.60
ZHEJIANG CHANGXING       7.50    12/26/25        CNY       41.11
ZHEJIANG CHANGXING       7.50    12/26/25        CNY       40.00
ZHEJIANG HUZHOU NAN      7.80    08/21/25        CNY       19.91
ZHEJIANG WUYI CITY       8.00    12/21/25        CNY       41.23
ZHEJIANG WUYI CITY       8.00    12/21/25        CNY       41.23
ZHEJIANG WUYI CITY       8.00    08/10/25        CNY       20.81
ZHEJIANG WUYI CITY       8.00    08/10/25        CNY       20.00
ZHONGHONG HOLDING C      8.00    07/04/19        CNY        2.75
ZHONGTIAN FINANCIAL      8.50    08/16/27        CNY       31.04
ZHONGXIANG CITY CON      7.50    07/05/26        CNY       42.12
ZHONGXIANG CITY CON      7.50    07/05/26        CNY       40.00
ZHOUSHAN ISLANDS NE      7.50    01/30/27        CNY       58.95
ZHOUSHAN ISLANDS NE      7.50    01/30/27        CNY       55.00
ZHUZHOU HI-TECH AUT      8.00    08/14/25        CNY       25.94
ZIGUI COUNTY CHUYUA      7.80    02/12/28        CNY       64.24
ZIGUI COUNTY CHUYUA      7.80    02/12/28        CNY       60.00
ZIYANG KAILI INVEST      8.00    02/14/26        CNY       41.30
ZUNYI ROAD & BRIDGE      8.00    05/08/29        CNY       70.83
ZUNYI TRAFFIC TRAVE      7.80    03/07/29        CNY       74.66


   HONG KONG
   ---------

CHINA SOUTH CITY HO      9.00    04/12/24        USD       28.83
CHINA SOUTH CITY HO      9.00    06/26/24        USD       28.25
CHINA SOUTH CITY HO      9.00    12/11/24        USD       27.89
CHINA SOUTH CITY HO      9.00    10/09/24        USD       27.88
HAINAN AIRLINES HON     12.00    10/29/21        USD        1.92
HONGKONG IDEAL INVE     14.75    10/08/22        USD        2.60
YANGO JUSTICE INTER     10.25    09/15/22        USD        0.40
YANGO JUSTICE INTER      7.50    04/15/24        USD        0.39
YANGO JUSTICE INTER      9.25    04/15/23        USD        0.22
YANGO JUSTICE INTER      7.50    02/17/25        USD        0.16
YANGO JUSTICE INTER      8.25    11/25/23        USD        0.15
YANGO JUSTICE INTER      7.88    09/04/24        USD        0.13
YANGO JUSTICE INTER     10.00    02/12/23        USD        0.12
YANGO JUSTICE INTER     10.25    03/18/22        USD        0.01
ZENSUN ENTERPRISES      12.50    04/23/24        USD        5.38
ZENSUN ENTERPRISES      12.50    09/13/23        USD        5.25


   INDONESIA
   ---------

WIJAYA KARYA PERSER      9.10    03/03/26        IDR       74.57
WIJAYA KARYA PERSER      9.10    03/03/26        IDR       74.33
WIJAYA KARYA PERSER      8.50    03/03/26        IDR       73.91
WIJAYA KARYA PERSER      8.50    03/03/26        IDR       73.91
WIJAYA KARYA PERSER      8.55    09/08/26        IDR       68.44
WIJAYA KARYA PERSER      8.55    09/08/26        IDR       68.21
WIJAYA KARYA PERSER     10.50    11/03/27        IDR       65.31
WIJAYA KARYA PERSER     10.50    11/03/27        IDR       65.31
WIJAYA KARYA PERSER     10.90    11/03/29        IDR       64.92
WIJAYA KARYA PERSER     10.90    11/03/29        IDR       64.92
WIJAYA KARYA PERSER      7.75    02/18/27        IDR       63.84
WIJAYA KARYA PERSER      7.75    02/18/27        IDR       63.52
WIJAYA KARYA PERSER      9.75    03/03/28        IDR       63.03
WIJAYA KARYA PERSER      9.85    12/18/27        IDR       62.93
WIJAYA KARYA PERSER      9.75    03/03/28        IDR       62.87
WIJAYA KARYA PERSER      9.85    12/18/27        IDR       62.64
WIJAYA KARYA PERSER      9.25    09/08/28        IDR       60.80
WIJAYA KARYA PERSER      9.25    09/08/28        IDR       60.75
WIJAYA KARYA PERSER      8.30    02/18/29        IDR       58.02
WIJAYA KARYA PERSER      8.30    02/18/29        IDR       57.97
WIJAYA KARYA PERSER      8.60    12/18/25        IDR       55.84


   INDIA
   -----

BHARAT SANCHAR NIGA      7.55    03/20/34        INR       63.39
IIFL SAMASTA FINANC     10.75    02/24/25        INR       30.86
IKF FINANCE LTD         10.60    03/27/25        INR       25.04
IKF HOME FINANCE LT     10.85    08/31/26        INR       74.73
MAHANAGAR TELEPHONE      7.51    03/06/34        INR       51.29
PIRAMAL CAPITAL & H      8.50    04/18/23        INR       34.25


   MALAYSIA
   --------

CAPITAL A BHD            8.00    12/29/28        MYR        0.96


   PHILIPPINES
   -----------

BAYAN TELECOMMUNICA     15.00    07/15/06        USD       15.00
BAYAN TELECOMMUNICA     15.00    07/15/06        USD       15.00


   SINGAPORE
   ---------

BAKRIE TELECOM PTE      11.50    05/07/15        USD        0.59
BLD INVESTMENTS PTE      8.63    03/23/15        USD        6.75
DAVOMAS INTERNATION     11.00    05/09/11        USD        0.33
DAVOMAS INTERNATION     11.00    05/09/11        USD        0.33
DAVOMAS INTERNATION     11.00    12/08/14        USD        0.33
DAVOMAS INTERNATION     11.00    12/08/14        USD        0.33
ENERCOAL RESOURCES       9.25    08/05/14        USD       45.75
ITNL OFFSHORE PTE L      7.50    01/18/21        CNY       22.30
MICLYN EXPRESS OFFS      8.75    11/25/18        USD        0.76
NOMURA INTERNATIONA     19.50    08/28/28        TRY       64.85
NOMURA INTERNATIONA      7.65    10/04/37        AUD       64.33
ORO NEGRO DRILLING       7.50    01/24/24        USD        0.50
RICKMERS MARITIME        8.45    05/15/17        SGD        5.00
SWIBER HOLDINGS LTD      7.75    09/18/17        CNY        6.13


   SOUTH KOREA
   -----------

KOSME SCALE-UP SECU     24.00    12/30/24        KRW       73.64
KOSME SCALE-UP SECU     20.00    12/29/25        KRW       70.05
SAMPYO CEMENT CO LT      8.10    06/26/15        KRW       70.00
SAMPYO CEMENT CO LT      8.10    04/12/15        KRW       70.00
SAMPYO CEMENT CO LT      8.30    09/10/14        KRW       70.00
SAMPYO CEMENT CO LT      7.50    07/20/14        KRW       70.00
SAMPYO CEMENT CO LT      8.30    04/20/14        KRW       70.00
KOSME SCALE-UP SECU     20.00    03/30/25        KRW       68.15
KOSME SCALE-UP SECU     20.00    03/30/25        KRW       68.15


   SRI LANKA
   ---------

SRI LANKA GOVERNMEN     12.40    05/15/31        LKR       72.61
SRI LANKA GOVERNMEN     12.40    06/15/32        LKR       69.54
SRI LANKA GOVERNMEN      7.50    01/15/33        LKR       66.55
SRI LANKA GOVERNMEN      7.50    02/15/34        LKR       63.79
SRI LANKA GOVERNMEN      7.50    03/15/35        LKR       61.46
SRI LANKA GOVERNMEN      7.50    04/15/36        LKR       59.49
SRI LANKA GOVERNMEN     12.40    05/15/37        LKR       57.86
SRI LANKA GOVERNMEN     12.40    06/15/38        LKR       56.81
SRI LANKA GOVERNMEN      7.85    03/14/29        USD       62.57
SRI LANKA GOVERNMEN      7.85    03/14/29        USD       62.56
SRI LANKA GOVERNMEN      7.55    03/28/30        USD       62.05
SRI LANKA GOVERNMEN      7.55    03/28/30        USD       62.02



                           *********


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
to be reliable, but is not guaranteed.

TCR-AP subscription rate is US$775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance
thereof are US$25 each.  For subscription information, contact
Peter Chapman at 215-945-7000.



                *** End of Transmission ***