/raid1/www/Hosts/bankrupt/TCRAP_Public/250114.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
A S I A P A C I F I C
Tuesday, January 14, 2025, Vol. 28, No. 10
Headlines
A U S T R A L I A
CODAW PTY: First Creditors' Meeting Set for Jan. 23
DALTON SECURITY: First Creditors' Meeting Set for Jan. 21
FEATURE LANDSCAPES: Second Creditors' Meeting Set for Jan. 20
MN ENERGY: First Creditors' Meeting Set for Jan. 21
PLAYABILITY INCORPORATED: First Creditors' Meeting Set for Jan. 20
STAR ENTERTAINMENT: Pares Losses After Slipping to Record Low
C H I N A
CHINA EVERGRANDE: Ordered to Repay US$1.8B in Pledge Guarantees
CHINA VANKE: Pledges to Use All Means to Repay Maturing Bonds
COUNTRY GARDEN: Hunting for Cash to Finish Building Homes
H O N G K O N G
HEALTH AND HAPPINESS: S&P Rates New USD Secured Notes 'BB'
I N D I A
A.M. VINYL: CARE Keeps D Debt Ratings in Not Cooperating Category
AADHISHIVA ENTERPRISES: CARE Keeps D Rating in Not Cooperating
ADITHYA GLOBAL: CARE Lowers Rating on INR25.20cr LT Loan to D
ANAND INFOEDGE: Insolvency Resolution Process Case Summary
ASHTMURTI EXIM: Voluntary Liquidation Process Case Summary
CAPTAB BIOTEC: CARE Keeps D Debt Rating in Not Cooperating
D. D. CONSTRUCTION: CARE Keeps B- Debt Rating in Not Cooperating
DASHRATH SINGH: CARE Keeps D Debt Ratings in Not Cooperating
DATTA AGRO: CARE Keeps D Debt Ratings in Not Cooperating Category
DOLPHIN LEATHERS: CARE Keeps C Debt Rating in Not Cooperating
DYNAMIC (CG): CARE Keeps D Debt Rating in Not Cooperating Category
EXPERTUS INFOTECH: Insolvency Resolution Process Case Summary
FARMERS COLD: Voluntary Liquidation Process Case Summary
GAGAR METALS: Insolvency Resolution Process Case Summary
H S RAMESH: CARE Keeps D Debt Ratings in Not Cooperating Category
HARMAN EXPORTS: CARE Keeps B- Debt Rating in Not Cooperating
INDRAJIT POWER: NCLAT Rejects Plea to Stay Insolvency Proceedings
J. V. GOKAL: CARE Lowers Rating on INR119.50cr ST Loan to D
JAYAWANTI BABU: CARE Keeps D Debt Ratings in Not Cooperating
KRIPA TELECOM: CARE Keeps C Debt Rating in Not Cooperating
LEVITA POLYPACK: CARE Keeps B- Debt Rating in Not Cooperating
MICRO MOTION: CARE Keeps B- Debt Rating in Not Cooperating
MIST AVENUE: Insolvency Resolution Process Case Summary
MIST DIRECT: Insolvency Resolution Process Case Summary
NEWTECH SHELTERS: CARE Keeps D Debt Rating in Not Cooperating
NOVELTY REDDY: CARE Keeps C Debt Rating in Not Cooperating
PAWAN EDIFICE: CARE Keeps D Debt Rating in Not Cooperating
PRAPTI FASHIONS: Liquidation Process Case Summary
PURE DIETS: CARE Keeps D Debt Rating in Not Cooperating Category
RESINS & ALLIED: CARE Lowers Rating on INR0.50cr LT Loan to B-
RR PRESTRESS: CARE Lowers Rating on INR4.00cr LT Loan to B-
S K PETRO: CARE Keeps D Debt Ratings in Not Cooperating Category
S. S. AGRO: CARE Keeps D Debt Ratings in Not Cooperating Category
S. S. OVERSEAS: CARE Keeps D Debt Ratings in Not Cooperating
SHUBH PLY: CARE Keeps D Debt Ratings in Not Cooperating Category
SRINIVASA RICE: CARE Keeps C Debt Rating in Not Cooperating
SUPERTECH TOWNSHIP: Lender Rejects Settlement Proposal
TIRUPATI STEEL: CARE Keeps B- Debt Rating in Not Cooperating
VEDANTA RESOURCES: S&P Puts 'B' LongTerm ICR on Watch Positive
J A P A N
[*] JAPAN: Record Number of Ramen Eateries Went Bankrupt in 2024
N E W Z E A L A N D
IBM GLOBAL: Creditors' Proofs of Debt Due on Jan. 31
KITCHEN STORY: Court to Hear Wind-Up Petition on Feb. 28
SMILES ROOFING: Court to Hear Wind-Up Petition on Feb. 28
TIMOTEO BUILDERS: Creditors' Proofs of Debt Due on Feb. 19
VU RESORT: Creditors' Proofs of Debt Due on Feb. 10
S I N G A P O R E
AVIS BUDGET: Creditors' Proofs of Debt Due on Feb. 7
HK.JUAN RENOVATION: Court to Hear Wind-Up Petition on Jan. 24
MERCURY CAPITAL: Creditors' Proofs of Debt Due on Feb. 10
MIBA FAR EAST: Commences Wind-Up Proceedings
SYMPHONY W&C: Commences Wind-Up Proceedings
X X X X X X X X
[*] BOND PRICING: For the Week Jan. 6, 2025 to Jan. 10, 2025
- - - - -
=================
A U S T R A L I A
=================
CODAW PTY: First Creditors' Meeting Set for Jan. 23
---------------------------------------------------
A first meeting of the creditors in the proceedings of Codaw Pty
Ltd, trading as P&M Cambridge Street, P&M Cafe Wine Bar and Pickles
& Moo Café, will be held on Jan. 23, 2025 at 10:00 a.m. at the
offices of Mackay Goodwin, Level 2, 68 St Georges Terrace, in
Perth, WA, and via Teams.
Mathieu Tribut of Mackay Goodwin was appointed as administrator of
the company on Jan. 13, 2025.
DALTON SECURITY: First Creditors' Meeting Set for Jan. 21
---------------------------------------------------------
A first meeting of the creditors in the proceedings of Dalton
Security Pty Ltd will be held on Jan. 21, 2025 at 10:00 a.m. via
teleconference facilities.
Andrew Quinn and Mitchell Ball of Mackay Goodwin were appointed as
administrators of the company on Jan. 9, 2025.
FEATURE LANDSCAPES: Second Creditors' Meeting Set for Jan. 20
-------------------------------------------------------------
A second meeting of creditors in the proceedings of Feature
Landscapes & Constructions Pty. Ltd. (trading as Feature Landscape
Group) and Formation Group Pty Ltd (trading as Feature Landscape
Group) has been set for Jan. 20, 2025 at 12:00 p.m. at the offices
of SV Partners, Level 17, 200 Queen Street, in Melbourne, Victoria
3000 and by way of teleconference facilities (Microsoft Teams).
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Jan. 17, 2025 at 5:00 p.m.
Michael Carrafa and Fabian Kane Micheletto of SV Partners were
appointed as administrators of the company on Dec. 4, 2024.
MN ENERGY: First Creditors' Meeting Set for Jan. 21
---------------------------------------------------
A first meeting of the creditors in the proceedings of MN Energy
Limited will be held on Jan. 21, 2025 at 1:00 p.m. at the offices
of WA Insolvency Solutions, a division of Jirsch Sutherland Suite
6.02, Level 6, 109 St Georges Terrace, in Perth, WA.
Jimmy Trpcevski and David Hurt of WA Insolvency Solutions were
appointed as administrators of the company on Jan. 9, 2025.
PLAYABILITY INCORPORATED: First Creditors' Meeting Set for Jan. 20
------------------------------------------------------------------
A first meeting of the creditors in the proceedings of Playability
Incorporated will be held on Jan. 20, 2025 at 10:00 a.m. at 31-33
Parker Street, in Bega, NSW.
Glen Oldham of Oldhams Advisory was appointed as administrator of
the company on Jan. 10, 2025.
STAR ENTERTAINMENT: Pares Losses After Slipping to Record Low
-------------------------------------------------------------
Reuters reports that shares of Star Entertainment jumped 13.6%
higher on Jan. 13, with analysts citing the rise to investors
buying the stock at a cheaper price after it fell to a record low
last week.
The stock rose to AUD0.125, surging as much as 22.7% during the
session. It fell to a record low of AUD0.10 on Jan. 10, and has
slumped nearly 50% in the last two sessions.
"The rise in Star's share price today is likely buying the dip and
traders working the market as opposed to fundamental news flow
driving the share price rise," Reuters quotes Grady Wulff, a market
analyst at trading platform Bell Direct, as saying.
"The combination of speculating a turnaround and shorting are
likely the drivers behind Star’s most recent share price
volatility and today’s rise."
Reuters notes that the company's shares tanked last week after it a
flagged liquidity and cash crunch in the wake of an ongoing debt
agreement.
The firm has already drawn down AUD100 million (US$61.4 million) of
its new AUD200 million debt facility from lenders.
According to Reuters, Star's current financial situation makes it
difficult for the company to fulfill requirements for the second
drawdown, it said earlier this month as it explores other liquidity
options.
Star said that the cash available at the end of December stood at
AUD79 million, down from AUD149 million at the end of September,
Reuters discloses.
"I think investors who are seeing a chance to buy at these levels
may be hoping that an outside party/company can be found to come in
and save the day for Star Entertainment. Whether that possible
scenario comes to fruition remains to be seen," said Tim Waterer, a
market analyst at KCM Trade.
Overall, the historically low price levels for Star Entertainment
have caught the attention of buyers despite the current negativity
surrounding the stock, he said.
Star's stock was down more than 63% in 2024. It has so far lost
about 34% this year, adds Reuters.
About The Star Entertainment
The Star Entertainment Group Limited (ASX:SGR) --
https://www.starentertainmentgroup.com.au/ -- is an Australia-based
company that provides gaming, entertainment and hospitality
services. The Company operates The Star Sydney (Sydney), The Star
Gold Coast (Gold Coast) and Treasury Brisbane (Brisbane). The
Company operates through three segments: Sydney, Gold Coast and
Brisbane. Sydney segment consists of The Star Sydney's casino
operations, including hotels, restaurants, bars and other
entertainment facilities. Gold Coast segment consists of The Star
Gold Coast's casino operations, including hotels, theatre,
restaurants, bars and other entertainment facilities. Brisbane
segment includes Treasury's casino operations, including hotel,
restaurants and bars. The Company also manages the Gold Coast
Convention and Exhibition Centre on behalf of the Queensland
Government. The Company also owns Broadbeach Island on which the
Gold Coast casino is located.
The Star Entertainment Group posted three consecutive annual net
losses of AUD198.6 million, AUD2.43 billion and AUD1.68 billion for
the years ended June 30, 2022, 2023, and 2024, respectively.
=========
C H I N A
=========
CHINA EVERGRANDE: Ordered to Repay US$1.8B in Pledge Guarantees
---------------------------------------------------------------
The South China Morning Post reports that China Evergrande Property
Services Group, the property management arm under China Evergrande,
said its parent was ordered by a court in Guangzhou to repay
CNY13.4 billion (US$1.8 billion) in pledge guarantees on deposit
certificates, according to a Hong Kong stock exchange filing on
Jan. 10.
The Post relates that Evergrande Property's legal proceedings
against its debt-ridden parent began a year ago, after the
developer revealed in 2022 that it had used CNY13.4 billion
belonging to the property unit as collateral for pledge
guarantees.
The news came hours after CEG Holdings BVI, an offshore Evergrande
unit that owns nearly half of Evergrande Property, was ordered to
be wound up by a Hong Kong court, marking another legal victory for
liquidators, the Post notes.
About China Evergrande
China Evergrande Group is an integrated residential property
developer. The Company, through its subsidiaries, operates in
property development, investment, management, finance, internet,
health, culture, and tourism markets.
China Evergrande Group, the second largest real estate developer in
China, and certain of its affiliates sought creditor protection in
the United States under Chapter 15 of the Bankruptcy Code (Bankr.
S.D.N.Y. Lead Case No. 23-11332) on Aug. 17, 2023.
Evergrande, widely known as the most leveraged company in the
world, and its affiliates are asking the U.S. Bankruptcy Court for
the Southern District of New York for recognition of foreign
proceedings as "foreign main" proceeding under Chapter 15.
Evergrande is in the midst of a highly complex restructuring of
around $20 billion in offshore debt. In total, the Company has
more than $300 billion in liabilities.
Evergrande is incorporated in the Cayman Islands as an exempted
company with limited liability, with its principal place of
business located at 15th Floor, YF Life Centre, 38 Gloucester Road,
Wanchai, Hong Kong. It is subject to a restructuring proceeding
entitled In the Matter of China Evergrande Group, concerning a
scheme of arrangement between Evergrande and certain Scheme
Creditors pursuant to the relevant provisions of the Hong Kong
Companies Ordinance (Chapter 622 of the Laws of Hong Kong),
currently pending before the High Court of Hong Kong (Case Number
HCMP 1091/2023.
Affiliate Tianji Holding Limited is incorporated in Hong Kong as a
limited liability company, with its principal place of business
located at 17th Floor, One Island East, Taikoo Place, 18 Westlands
Road, Quarry Bay, Hong Kong. Tianji is subject to a restructuring
proceeding entitled In the Matter of Tianji Holding Limited,
concerning a scheme of arrangement between Tianji and certain
Scheme Creditors, pursuant to the relevant provisions of the Hong
Kong Companies Ordinance and currently pending before the Hong Kong
Court (Case Number HCMP 1090/2023).
Affiliate Scenery Journey Limited is incorporated in the British
Virgin Islands as a limited liability company, with its principal
place of business located at 2nd Floor Water's Edge Building,
Wickham's Cay II, Road Town, Tortola, BVI. Scenery Journey is
subject to a restructuring proceeding entitled In the Matter of
Scenery Journey Limited, concerning a scheme of arrangement between
Scenery Journey and certain Scheme Creditors, pursuant to section
179A of the BVI Business Companies Act, 2004, and currently pending
before the High Court of the Eastern Caribbean Supreme Court (Case
Number BVIHCOM 2023/0076).
U.S. Bankruptcy Judge Michael E Wiles presides over the Chapter 15
proceedings.
Sidley Austin is the Hong Kong Counsel to Evergrande and Tianji.
Maples BVI is the British Virgin Island Counsel to Scenery
Journey.
On Jan. 29, 2024, a Hong Kong court ordered the liquidation of
China Evergrande Group.
CHINA VANKE: Pledges to Use All Means to Repay Maturing Bonds
-------------------------------------------------------------
Yicai Global reports that Vanke has promised to leverage all
available resources to meet its debt obligations, after bond prices
plummeted on Jan. 9 on growing market concerns that the Chinese
real estate giant will not be able to honor its debts amid a
sluggish property market.
Yicai relates that Vanke will continue to raise funds from various
fronts to meet its maturing bond repayments, the Shenzhen-based
developer, which needs to pay back CNY9.8 billion (USD1.3 billion)
in principal and interest over the next three months, said on Jan.
9. This includes collecting sales proceeds, engaging in large-scale
asset transactions, exiting non-core businesses and undertaking new
debt financing.
Eight of Vanke’s onshore bonds closed lower on Jan. 9. The "22
Vanke 02" had the steepest drop, plummeting 14.36 percent to end
the day at CNY56.40 (USD7.69). There are just 53 days until the
next interest payment is due on this five-year bond, issued in
March 2022. The bond had previously hit a low of CNY51 (USD6.96) in
April last year before rebounding to CNY75. But since late
December, it has been on a downward slide again.
Only four bonds managed to close higher on Jan. 9, Yicai relates.
Vanke's publicly traded bonds are mostly priced between CNY50
(USD6.82) and CNY75 (USD10.23), Yicai noticed.
Yicai notes that the tumbling prices reflect market concerns over
the real estate giant's ability to meet its debt obligations amid a
tepid property market. Vanke has 18 bonds maturing or requiring
interest payments within the coming year, amounting to CNY33.1
billion (USD4.5 billion) in Chinese yuan-denominated bonds and
USD423 million in US dollar-denominated bonds, according to Wind
Information data.
Vanke's revenue from property sales in December was CNY23.3 billion
(USD3.18 billion), while sales for the whole of last year reached
CNY246 billion (USD33.5 billion), Yicai discloses.
About China Vanke
China Vanke Co., Ltd. operates real estate development businesses.
The Company provides housing renovation, housing loans, real estate
brokerage, and other businesses. China Vanke also operates
logistics, material supply, and other businesses.
As reported in the Troubled Company Reporter-Asia Pacific in early
December 2024, S&P Global Ratings lowered its long-term issuer
credit rating on China Vanke Co. Ltd. to 'B+' from 'BB-', and its
long-term issuer credit rating on China Vanke's subsidiary, Vanke
Real Estate (Hong Kong) Co. Ltd. (Vanke HK), to 'B' from 'B+'. S&P
also lowered the issue rating on Vanke HK's senior unsecured notes
to 'B' from 'B+'.
COUNTRY GARDEN: Hunting for Cash to Finish Building Homes
---------------------------------------------------------
Caixin Global reportst that Country Garden Holdings Co. Ltd. is
trying to scrape together cash to finish ongoing projects.
The company is requesting permission from local authorities to
reallocate locked-up presale funds and trying to get its projects
onto various financing whitelists, a source familiar with the
company told Caixin.
Delivering homes on time to customers who've already paid for them
is proving a major challenge for developers struggling with
liquidity amid a prolonged market downturn, Caixin says. Country
Garden, once China's biggest property developer, failed to meet its
annual targets of delivering 700,000 and 480,000 homes in 2023 and
2024, respectively. It delivered 380,000 homes last year, according
to the developer.
About Country Garden
Country Garden Holdings Company Limited (HKEX:2007), an investment
holding company, invests, develops, and constructs real estate
properties primarily in Mainland China. The company operates in two
segments, Property Development and Construction. It develops
residential projects, such as townhouses and condominiums; and car
parks and retail shops. The company also develops, operates, and
manages hotels. In addition, it researches and develops robots;
sells electronic hardware and food; and provides interior
decoration, agriculture, landscape design, investment and
management consulting, cultural activity planning, and real estate
consulting services.
As reported in the Troubled Company Reporter-Asia Pacific in late
February 2024, Kingboard Holdings-backed money lender Ever Credit
on Feb. 27, 2024, filed a winding-up petition against Country
Garden to the Hong Kong High Court for non-payment of a US$205
million loan.
The TCR-AP reported in late March 2024 that Country Garden has
hired Kroll to carry out a liquidation analysis. Kroll, the New
York-headquartered financial advisory firm, is expected to conduct
an independent business review of Country Garden before projecting
a recovery rate for the developer's creditors under a liquidation
scenario, according to Reuters.
The developer defaulted on US$11 billion of offshore bonds last
year and is in the process of an offshore debt restructuring.
=================
H O N G K O N G
=================
HEALTH AND HAPPINESS: S&P Rates New USD Secured Notes 'BB'
----------------------------------------------------------
S&P Global Ratings assigned its 'BB' long-term issue rating to U.S.
dollar-denominated senior secured notes that Health and Happiness
(H&H) International Holdings Ltd. proposes to issue.
S&P rates the notes the same as the long-term issuer credit rating
on H&H (BB/Negative/--). This is because the notes are secured on a
first ranking basis and rank equally with the company's existing
and future secured indebtedness. Existing secured indebtedness
includes a US$540 million syndicated loan equivalent to Chinese
renminbi (RMB) 3.9 billion that the company drew down in November
2024 and RMB1.09 billion of offshore loans denominated in the
Chinese renminbi.
The Hong Kong-headquartered nutrition products company will use the
proceeds of the proposed issue to refinance its existing US$300
million senior secured notes due in June 2026.
=========
I N D I A
=========
A.M. VINYL: CARE Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of A.M. Vinyl
Private Limited (AVPL) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 31.50 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 13.50 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 12,
2023, placed the rating(s) of AVPL under the 'issuer
non-cooperating' category as AVPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
AVPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated October 27, 2024,
November 6, 2024 and November 16, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
A.M Vinyl Private Limited (AVPL) was incorporated in 2004 by Mr.
Ashok Chopra. AVPL is engaged in the manufacturing and trading of
PVC products and its product portfolio includes PVC floorings, PVC
leather cloth, PP nonwoven spun bonded fabric and PVC sheeting. The
manufacturing facility for AVPL is located in Bhiwadi, Rajasthan.
AADHISHIVA ENTERPRISES: CARE Keeps D Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Aadhishiva
Enterprises (AE) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 6.35 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 26,
2023, placed the rating(s) of AE under the 'issuer non-cooperating'
category as AE had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. AE continues to be
non-cooperative despite repeated requests for submission of
information through emails dated November 10, 2024, November 20,
2024 and November 30, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Aadhishiva Enterprises (AE) is a proprietorship concern established
by Mr. Prathap Chandran in July 2007. AE is engaged in trading of
imported cashews and is operating in 3 facilities in Kerala
(Nedumpana and Pooyappally in Kollam and Attingal in
Thiruvananthapuram). AE imports raw cashews from African countries
like Ivory Coast, Ghana, Tanzaniya, Benin etc. and once the goods
reach the port (Tutucorin or Cochin), the goods are taken to the
processing units and undergo the process of borma (process of
heating the cashews kernels), Shelling, peeling, grading and
packing. AE has got a centralized packing unit in Kollam where the
packing is done based on customer requirements.
ADITHYA GLOBAL: CARE Lowers Rating on INR25.20cr LT Loan to D
-------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Adithya Global Health Care Private Limited (AGHCPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 25.20 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category and Downgraded from
CARE B-; Stable
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated April 17, 2024,
placed the rating(s) of AGHCPL under the 'issuer non-cooperating'
category as AGHCPL had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. AGHCPL
continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated January 06, 2025
among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The ratings assigned to the bank facilities of AGHCPL have been
revised on account of non-availability of requisite information.
The rating revision further considers ongoing delays in debt
servicing as recognized from publicly available information.
Analytical approach: Standalone
Outlook: Not Applicable
Based in Vishakhapatnam (Andhra Pradesh), Adithya Global Health
Care Private Limited (AGHCPL) proposes to open a 150 bed
multi-specialty hospital at Waltair Ward, Vishakhapatnam. The
company was incorporated in 2015 by Mr Suresh Naidu (Managing
Director). AGHCPL has an associate concern, M/s Aditya Multicare
Hospital in Vishakhapatnam which was established in 2004. Engaged
in similar line of business. AGHCPL is proposed to provide health
services in Orthopedics, Surgical Oncology, Laparoscopic Surgeries,
and Kidney Transplantation along with other clinical support
services. AGHCPL is currently in project stage.
Status of non-cooperation with previous CRA: CRISIL has continued
the ratings assigned to the bank facilities of AGHCPL to the
'issuer not-cooperating' category vide press release dated
January 3, 2025 on account of its inability to carryout review in
the absence of requisite information from the company.
ANAND INFOEDGE: Insolvency Resolution Process Case Summary
----------------------------------------------------------
Debtor: Anand Infoedge Private Limited
JA0911, Plot No. 10,
DLF Tower-A, Jasola,
South Delhi, New Delhi-110025
Insolvency Commencement Date: July 7, 2024
Estimated date of closure of
insolvency resolution process: June 21, 2025
Court: National Company Law Tribunal, Haryana Bench
Insolvency
Professional: Narender Kumar Sharma
Plot No. D1/2, Welcom Group CGHS, Plot No. 6,
Sector-3, Dwarka, New Delhi-110078
Email: nksharma.fcs@gmail.com
Email: cirp.festivalcity@gmail.com
Last date for
submission of claims: January 6, 2025
ASHTMURTI EXIM: Voluntary Liquidation Process Case Summary
----------------------------------------------------------
Debtor: Ashtmurti Exim Private Limited
A-19, Sector 58, Gautam Buddha Nagar,
Noida, Uttar Pradesh,
India 201301
Liquidation Commencement Date: December 27, 2024
Court: National Company Law Tribunal, New Delhi Bench
Liquidator: Ashok Kumar Verma
13-B, 2nd Floor,
Above Central Bank of India,
Netaji Subhash Marg,
Daryaganj, New Delhi 110002
Email: ashokvermafcs@yahoo.com
Last date for
submission of claims: January 25, 2025
CAPTAB BIOTEC: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Captab
Biotec Unit II (CBUI) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 6.50 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Long Term Bank 0.64 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 3.50 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 28,
2023, placed the rating(s) of CBUI under the 'issuer
non-cooperating' category as CBUI had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
CBUI continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated November 12, 2024,
November 22, 2024 and December 2, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Captab Biotech Unit – II (CBUI) was established in 2014 as a
partnership firm. It is currently being managed by Mr. Kapish Goel
and Mr. Shubham Goel as partners. The firm is engaged in the
manufacturing of pharmaceutical formulations which are available in
the form of tablets, capsules, Eye Drops, Eye Ointments, Infusions
and Dry Syrups.
Status of non-cooperation with previous CRA: CRISIL has continued
the ratings assigned to the bank facilities of CBUI into 'Issuer
not-cooperating' category vide press release dated May 23, 2024 on
account of non-availability of requisite information from the
Firm.
ACUITE has continued the ratings assigned to the bank facilities of
CBUI into 'Issuer not-cooperating' category vide press release
dated June 4, 2024 on account of non-availability of requisite
information from the Firm.
ICRA has continued the ratings assigned to the bank facilities of
CBUI into 'Issuer not-cooperating' category vide press release
dated July 3, 2024 on account of non-availability of requisite
information from the Firm.
D. D. CONSTRUCTION: CARE Keeps B- Debt Rating in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of D. D.
Construction (DDC) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 7.00 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 21,
2023, placed the rating(s) of DDC under the 'issuer
non-cooperating' category as DDC had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
DDC continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated November 5, 2024,
November 15, 2024, November 25, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
D. D. Construction (DDC) was established in the year 1990 as a
proprietorship entity by Mr. Debasis Ghosh. The entity has been
engaged in civil construction activities in the segment like roads,
bridges and excavation work. DDC secures work contracts through
tender and executes orders mainly for various departments of West
Bengal Government. The major clients of the entity include reputed
names like Public Works Department (PWD) West Bengal, Mackintosh
Burn Limited (MBL) etc. DDC has an unexecuted order book of
Rs.20.00 crore (1.48x of revenue of FY20) as on April 30, 2021
which is to be executed by May 2022. The firm has availed
moratorium over interest on working capital for the period March,
2020 to August 2020.
DASHRATH SINGH: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Shri
Dashrath Singh Chauhan (SDSC) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 12.50 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 23.96 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 1,
2023, placed the rating(s) of SDSC under the 'issuer
non-cooperating' category as SDSC had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
SDSC continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 16, 2024,
September 26, 2024, October 6, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Chhindwara, Madhya Pradesh based Shri Dashrath Singh Chauhan (SDSC)
is proprietorship firm established in 1980. The firm is engaged in
the business of retailing of alcohol. SDSC undertakes retail trade
of Indian made foreign liquor (IMFL), country liquor (CL) etc and
holds retail license for liquor shops in the state of Madhya
Pradesh. The shops are allotted in Madhya
Pradesh by the state government through a competitive bidding
process for a period of one year. The associate concerns of SDSC
include Aditya Raj which is engaged in Stone Crushing business and
Hotel Aditya Residency which operates a Hotel.
DATTA AGRO: CARE Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Datta Agro
Services Private Limited (DASPL) continue to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 30.09 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 25.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 28,
2023, placed the rating(s) of DASPL under the 'issuer
non-cooperating' category as DASPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. DASPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 13, 2024, October 23, 2024, November 2, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Incorporated in June 2007, DASPL is engaged in manufacturing of
Single Super Phosphate (SSP) fertilizer from its sole manufacturing
facility located at Jalgaon, Maharashtra. DASPL markets its product
under the brand name "Satpuda" in the states of Madhya Pradesh and
Maharashtra.
DOLPHIN LEATHERS: CARE Keeps C Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Dolphin
Leathers (DL) continue to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long term Bank 1.25 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Short term Bank 5.25 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 22,
2023, placed the rating(s) of DL under the 'issuer non-cooperating'
category as DL had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. DL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated November 6, 2024, November 16,
2024, November 26, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Established in 1998, Dolphin Leathers (DL) is a partnership firm
engaged in manufacturing and export of leather products like
wallets, ladies hand bags, leather portfolios, letter messenger
bags, leather gloves, welding gloves and other leather accessories.
The tannery unit of the firm is located at Kolkata Leather Complex,
Bantalla where raw leathers are processed and the finished products
are manufactured at Topsia, Kolkata. The major export destinations
of the firm are Germany, Italy, Spain etc.
DYNAMIC (CG): CARE Keeps D Debt Rating in Not Cooperating Category
------------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Dynamic
(CG) Equipments Private Limited (DEPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 49.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 23,
2023, placed the rating(s) of DEPL under the 'issuer
non-cooperating' category as DEPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
DEPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated October 8, 2024,
October 18, 2024, October 28, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Dynamic (CG) Equipments Pvt. Ltd. (DEPL; erstwhile Dynamic JCB
Earthmovers Private limited), incorporated in 2008, is promoted by
Mr. Ashwani Mahendru (Managing Director). DEPL is an authorized
dealer and service center operator for JCB India Limited (JCBI) in
commercial vehicles and earth moving equipment since 2008 in
Chhattisgarh. The contract of JCB is renewable every three years
and was last renewed in September, 2013. Further, the company is
also in the business of leasing and providing after sales service
and deals in accessories & spare parts of Earth moving Equipments.
The company is also the authorized distributor for Castrol Brand of
Industrial Engine oil, Gear oil, Hydraulic oil and other industrial
oils which it is selling to its customers. Over the years, the
company has built a network in 27 branches and Any Time Parts
(ATP)'s in Chhattisgarh which provides spares and accessories of
JCB. Presently DEPL has four showrooms cum service centres at
Raipur, Siltara and Bilaspur and Raigarh.
EXPERTUS INFOTECH: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: Expertus Infotech Private Limited
Registered Address:
180, Kodambakkam High Road,
Nungambakkam, Chennai - 600034
Principal Office:
No. 9/10 Gokul Tower 4th Floor
CP Ramasamy Road,
Alwarpet, Chennai - 600080
Insolvency Commencement Date: December 20, 2024
Court: National Company Law Tribunal, Chennai Bench
Estimated date of closure of
insolvency resolution process: June 18, 2025
Insolvency professional: Rosita Fernando
Interim Resolution
Professional: Rosita Fernando
Plot No 245, 11th Street,
Kothari Nagar, Ramapuram,
Chennai 600080
Email: rositafernando@yahoo.com
Email: ciplcirp@gmail.com
Last date for
submission of claims: January 4, 2025
FARMERS COLD: Voluntary Liquidation Process Case Summary
--------------------------------------------------------
Debtor: Farmers Cold Storage (Gaya) Private Limited
Nand Niketan, Kadam Kuan,
M P Sinha Road, Patna
Bihar, India 800003
Liquidation Commencement Date: December 27, 2024
Court: National Company Law Tribunal, Kolkata Bench
Liquidator: Nitin Daga
P-68, Sector-A,
Metropolitan Cooperative Housing Society Limited,
Police Station- Pragati Maidan,
Canal South Road,
Kolkata, West Bengal, 700105
Last date for
submission of claims: January 26, 2025
GAGAR METALS: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: Gagar Metals Private Limited
A-19, Ground Floor,
FIEE Complex, Suite #1161,
Okhla Industrial Area Phase-II,
Okhla Industrial Area Phase-I,
New Delhi 110020
Insolvency Commencement Date: September 10, 2024
Court: National Company Law Tribunal, Indore Bench
Estimated date of closure of
insolvency resolution process: June 22, 2025
Insolvency professional: Chaya Gupta
Interim Resolution
Professional: Chaya Gupta
1, Bima Nagar, 202,
Almas Dreams Apartment,
Near Anand Bazaar,
Indore, Madhya Pradesh, 452018
Email: guptachayacs@gmail.com
-- and --
911, Apollo Premier
Near Vijay Nagar Square
Indore 452010, M.P.
Email: cirp.gagarmetals@gmail.com
Last date for
submission of claims: January 9, 2025
H S RAMESH: CARE Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of H S Ramesh
(HSR) continue to remain in the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 5.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 4.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 28,
2023, placed the rating(s) of HSR under the 'issuer
non-cooperating' category as HSR had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
HSR continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated November 12, 2024,
November 22, 2024 and December 2, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
H S Ramesh (HSR) is a proprietorship firm established in 2010 by
Mr. H. S. Ramesh in Mysore, Karnataka. The firm is a class I
contractor for Public Works Department (PWD), Karnataka for
undertaking civil constructions of buildings, roads etc. Over the
last few years, HSR has undertaken various contracts for
construction of roads and buildings in Mysore and Bengaluru regions
of Karnataka for the Public Works Department, Karnataka. Currently,
the firm is executing contracts for PWD in Mysore for construction
of roads in Mysore and Rampura districts of Karnataka.
Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of HSR into Issuer Not
Cooperating category vide press release dated May 24, 2024 on
account of its inability to carry out a review in the
absence of requisite information.
HARMAN EXPORTS: CARE Keeps B- Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Harman
Exports Private Limited (HEPL) continue to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 15.00 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 12,
2023, placed the rating(s) of HEPL under the 'issuer
non-cooperating' category as HEPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
HEPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated October 27, 2024,
November 6, 2024 and November 16, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Incorporated in 2009, HEPL was earlier engaged in the processing of
paddy at its manufacturing facility in Bathinda, Punjab. These
operations were ceased in FY16 and instead, HEPL undertook small
scale milling of rice for nearby units and selling of byproducts
like rice bran, etc. The operations were, however, recommenced in
April 2018.
INDRAJIT POWER: NCLAT Rejects Plea to Stay Insolvency Proceedings
-----------------------------------------------------------------
The Business Standard reports that the National Company Law
Appellate Tribunal (NCLAT) has dismissed a plea to stay the
insolvency proceedings against debt-ridden thermal power producer
Indrajit Power.
According to Business Standard, the appellate tribunal said "no
error has been committed" by the National Company Law Tribunal
(NCLT), while admitting the plea to initiate insolvency proceedings
against the Maharashtra-based company on February 1, 2024, filed by
Yes Bank.
Business Standard relates that the said order passed by the Mumbai
bench of NCLT was challenged by Rajiv Munjal, a director from the
suspended board of Indrajit Power, before the NCLAT.
However, NCLAT upheld the NCLT order observing that it admitted the
insolvency plea after finding debt and default which is not even
questioned in the appeal filed by the suspended board.
"The submission of the appellant (director) that he proposes to
enter into settlement, itself makes it clear that debt and default
are admitted. In view of the aforesaid, we do not see any good
grounds to entertain this appeal," said a two-member NCLAT bench on
January 7, 2025, Business Standard relays.
Yes Bank, a financial creditor, has claimed a default of Rs 331.41
crore against Indrajit Power, which presently operates an 85 MW
coal-based thermal power plant at Wardha, Maharashtra, Business
Standard notes. Later, this loan was substituted by JC Flower Asset
Reconstruction.
When the appeal was considered before NCLAT, Munjal submitted that
he was taking steps to settle. NCLAT has granted several
opportunities. The last opportunities were granted on October 1,
2024, and on November 5, 2024.
Even when the appeal was taken up last week on January 7, 2025,
counsel for the appellant submitted that no settlement could be
entered. Following this, the appellate tribunal moved ahead and
dismissed the appeal, Business Standard says.
Indrajit Power Private Limited commenced insolvency proceedings on
Feb. 1, 2024.
J. V. GOKAL: CARE Lowers Rating on INR119.50cr ST Loan to D
-----------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
J. V. Gokal & Company Private Limited (JVGCPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Short Term 119.50 CARE D Downgraded from
Bank Facilities CARE A4
Rationale and key rating drivers
CARE Ratings Limited has revised the ratings assigned to the bank
facilities of JVGCPL on account of delays in the servicing of
Packing Credit facility as per the no default statement (NDS) dated
January 2, 2025. The rating action is in line with CARE's policy on
default recognition.
Rating sensitivities: Factors likely to lead to rating actions
Positive factors
* Timely servicing of debt obligations for minimum 3 continuous
months.
Analytical approach: Standalone
Detailed description of key rating drivers:
Key weaknesses
* Delays in debt servicing: As per the no default statement (NDS)
dated January 2, 2025 there were delays in repayment of the EPC or
PSC facility/interest on the EPC or PSC facility availed by the
company.
Liquidity: Poor
JVGCPL liquidity remains poor as reflected by delay in repayment of
the EPC or PSC facility/interest on the EPC or PSC facility availed
by the company.
Established on April 10, 1950, by the Gokal Group, J.V Gokal &
Company Private Limited (JVGCPL) is a key player in tea blending,
bagging, packaging, and trading. Since it does not have its own
plantations, the company sources all its tea from major auction
centres in India. It operates four blending and packaging units in
West Bengal and Kerala. JVGCPL exports bulk and packaged tea to CIS
countries (mainly Kazakhstan and Russia), North America (especially
Canada), Europe, and Asia with a focus on China. The company also
participates in tenders floated by Coal India Limited (CIL) to
supply, install and commissioning of Rear Dumpers.
Gokal group's business extends across sectors such as aviation,
capital markets, infrastructure, textiles, engineering, oil and
gas, and mining equipment.
JAYAWANTI BABU: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Jayawanti
Babu Foundation (JBF) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 8.51 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 1.49 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated January 4,
2024, placed the rating(s) of JBF under the 'issuer
non-cooperating' category as JBF had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
JBF continues to be non-cooperative despite repeated requests for
submission of information through emails dated November 19, 2024,
November 29, 2024 and December 9, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Established in 2007, Jayawanti Babu Foundation (JBF) runs an
education institute. The trust is registered under Bombay Public
Trust Act, 1950. Currently, the trust is managing one college,
namely, Metropolitan Institute of Technology and Management
(MITM).
Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of JBF under Issuer Not
Cooperating category vide press release dated August 27, 2024 on
account of its inability to carry out a review in the absence of
the requisite information from the firm.
KRIPA TELECOM: CARE Keeps C Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Kripa
Telecom (KT) continue to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 3.00 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Short Term Bank 6.00 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 27,
2023, placed the rating(s) of KT under the 'issuer non-cooperating'
category as KT had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. KT continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated November 11, 2024, November 21,
2024 and December 1, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Bengaluru based, Kripa Telecom was established in the year 2000 and
promoted by Mr. P Ramesh, Mr. D Sudhakar and Mr. P Yeshodkrishna.
Presently, the firm is engaged in manufacturing of various types of
LED lights ranging from 15W-120W, manufacturing of telecom products
like RF antennas, RF connectors, wired roducts. KT has three branch
offices for selling of its products in Bengaluru (Karnataka),
Guntur (Andhra Pradesh) and Maharashtra. KT sells its products
within Karnataka, Andhra Pradesh, Maharashtra and Tamilnadu. The
firm is an approved LED lights supplier of Ministry of Renewable
Energy (MNRE).
Status of non-cooperation with previous CRA: India Ratings has
continued the rating assigned to the bank facilities of KT into
Issuer Not Cooperating category vide press release dated July 14,
2024 on account of its inability to carry out a review in the
absence of requisite information.
LEVITA POLYPACK: CARE Keeps B- Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Levita
Polypack LLP (LPL) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 8.00 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 28,
2023, placed the rating(s) of LPL under the 'issuer
non-cooperating' category as LPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
LPL continues to be non-cooperative despite repeated requests for
submission of information through emails dated October 13, 2024,
October 23, 2024, November 2, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Morbi-based (Gujarat) LPL was established in January, 2018 by total
ten partners, however overall operations will be managed by Mr.
Vinodkumar Savjibhai Ferar and Mr. Anilbhai Mahadevbhai Marvaniya.
LPL will operate from its sole manufacturing unit located in
Tankara (Morbi). LPL has implemented a project for manufacturing of
woven sack rolls and woven sack bags.
Status of non-cooperation with previous CRA: CRISIL has continued
the ratings assigned to the bank facilities of LPL to 'Issuer Not
Cooperating' category vide press release dated September 10, 2024
on account of its inability to carry out a review in the absence of
the requisite information from the LLP.
MICRO MOTION: CARE Keeps B- Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Micro
Motion India Private Limited (MMIPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 10.93 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 22,
2023, placed the rating(s) of MMIPL under the 'issuer
non-cooperating' category as MMIPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. MMIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 6, 2024, November 16, 2024 and November 26, 2024 among
others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Micro Motion India Private Limited (MMIPL) was taken over by its
current promoters in 2005 subsequent to which the operations of the
company commenced from 2008. The company, having its manufacturing
facility in Kala Amb (Himachal Pradesh), is engaged in the
manufacturing of corrugated boxes and mono cartons from kraft paper
along with their printing and lamination according to the client
requirements.
MIST AVENUE: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Mist Avenue Private Limited
28, Raja Garden, West Delhi
New Delhi - 110015
Insolvency Commencement Date: July 22, 2024
Estimated date of closure of
insolvency resolution process: June 21, 2025
Court: National Company Law Tribunal, Chandigarh Bench
Insolvency
Professional: Narender Kumar Sharma
Plot No. D1/2,
Welcome Group CGHS
Plot No. 6, Sector-3,
Dwarka, New Delhi - 110078
Email: nksharma.fcs@gmail.com
Email: cirp.festivalcity@gmail.com
Last date for
submission of claims: January 6, 2025
MIST DIRECT: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: Mist Direct Sales Private Limited
1A, Kanchanjunga Building,
18, Barakhamba Road,
Central Delhi, New Delhi - 11001
Insolvency Commencement Date: July 22, 2024
Estimated date of closure of
insolvency resolution process: June 21, 2025
Court: National Company Law Tribunal, Chandigarh Bench
Insolvency
Professional: Narender Kumar Sharma
Plot No. D1/2,
Welcom Group CGHS, Plot No. 6,
Sector-3, Dwarka,
New Delhi - 110078
Email: nksharma.fcs@gmail.com
Email: cirp.festivalcity@gmail.com
Last date for
submission of claims: January 6, 2025
NEWTECH SHELTERS: CARE Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Newtech
Shelters Private Limited (NSPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 13.44 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale & Key Rating Drivers
CARE Ratings Ltd. had, vide its press release dated December 28,
2023, placed the rating(s) of NSPL under the 'issuer
non-cooperating' category as NSPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
NSPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated November 12, 2024,
November 22, 2024, December 2, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Noida-based (Uttar Pradesh) NSPL was incorporated in July, 2010 and
currently being managed by Mr. Mukesh Kumar Roy and Mr. Sanjeev
Kumar Roy. NSPL is engaged in the development of real estate
projects (commercial) mainly in Ghaziabad, Uttar Pradesh.
NOVELTY REDDY: CARE Keeps C Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Novelty
Reddy and Reddy Motors Private Limited (NRRMPL) continue to remain
in the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 10.00 CARE C; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 1.50 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 6,
2023, placed the rating(s) of NRRMPL under the 'issuer
non-cooperating' category as NRRMPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. NRRMPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 21, 2024, October 31, 2024, November 10, 2024 among
others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not applicable
Novelty Reddy & Reddy Motors Private Ltd (NRRMPL) was incorporated
in 2007, by Mr. G. Rama Krishna Reddy. NRRMPL is an authorized
dealer for Maruti Suzuki India Ltd (MSIL) based in Bhimavaram and
Tanuku (both in Andhra Pradesh). The company has dealership for
selling entire range of passenger cars, spares and accessories of
MSIL. NRRMPL belongs to Reddy and Reddy Group which has diverse
interests including trading of prawns feed, authorized dealership
of MSIL and Hero Honda.
Status of non-cooperation with previous CRA: Brickwork has
continued the rating assigned to the bank facilities of NRRMPL into
ISSUER NOT COOPERATING category vide press release dated August 12,
2024 on account of its inability to carry out a review in the
absence of requisite information from the company.
PAWAN EDIFICE: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Pawan
Edifice Private Limited (PEPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 11.44 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 1,
2023, placed the rating(s) of PEPL under the 'issuer
non-cooperating' category as PEPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
PEPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 16, 2024,
September 26, 2024, October 6, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
PEPL, a part of Vadodara-based Pawan group, is owned and managed by
Mr. Chetan Shah & his family members. The Pawan group has been
involved in the construction and development of several real estate
projects in and around Vadodara. Till date, the Pawan group has
developed 56 projects across residential and commercial segments.
PRAPTI FASHIONS: Liquidation Process Case Summary
-------------------------------------------------
Debtor: Prapti Fashions Pvt. Limited
Paridhan Garments,
Park SDF-4, 4th Floor,
19 Canal South Road,
Kolkata, West Bengal - 700015
Liquidation Commencement Date: December 13, 2024
Court: National Company Law Tribunal, Kolkata Bench
Liquidator: Partha Kamal Sen
Flat 8C1, Brook Tower,
Hiland Park, 1925, Chak Garia,
Kolkata, West Bengal, 700094
Email: partha_kamal@yahoo.com
-- and --
1st Floor, 18A Prafulla Sarkar Street
Kolkata - 700072
Email: praptifashions.ibc@gmail.com
Last date for
submission of claims: January 18, 2025
PURE DIETS: CARE Keeps D Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Pure Diets
India Limited (PDIL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 8.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 22,
2023, placed the rating(s) of PDIL under the 'issuer
non-cooperating' category as PDIL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
PDIL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated November 6, 2024,
November 16, 2024 and November 26, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Delhi-based, PDIL was incorporated in January 2006 is currently
managed by Mr. Pradeep Mathur, Mrs. Manisha Mathur, Mr. Girish
Chadha, and Mr. Pradeep Kumar Mathur. The company is engaged in the
trading and export of organic food items. The main products of the
company are organic sugar and molasses. PDIL procures sugar from
the domestic market and exports of the same. PDIL is a part of Pure
Life Group, which has presence in organic foods industry in USA and
European markets. The group has a track record of more than a
decade in the trading of organic products like sweeteners,
starches, and coconut products to specialized feed items.
RESINS & ALLIED: CARE Lowers Rating on INR0.50cr LT Loan to B-
--------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Resins & Allied Products (RAP), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 0.50 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category and
Downgraded from CARE B; Stable
Short Term Bank 24.00 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 27,
2023, placed the rating(s) of RAP under the 'issuer
non-cooperating' category as RAP had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
RAP continues to be non-cooperative despite repeated requests for
submission of information through emails dated November 11, 2024,
November 21, 2024 and December 1, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The ratings for RAP have been revised on account of
non-availability of requisite information.
Analytical approach: Standalone
Outlook: Stable
Resins and Allied Products (RAP) was established in the year 1984
by Mr. R Chandra Mohan as a sole proprietorship concern. The firm
is engaged in manufacturing of a wide range of rubber composites
and all types of nozzles for missiles used in Defence and Aerospace
industries. The product range of firm includes rocasin sheets, EPDM
(Ethylene Propylene Diene Monomer) rubber, rubber insulator, rubber
bellows, nozzles and rubber components used in missiles, carbon
phenolic products, Composite Rocket Motor Casings (CRMC) &
Compression Molded Composites (CMC). RAP's production activities
are mainly focused on Defence and Aerospace projects with a
manufacturing unit located at Vijayawada, Krishna District of
Andhra Pradesh.
RR PRESTRESS: CARE Lowers Rating on INR4.00cr LT Loan to B-
-----------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
RR Prestress Industries (RPI), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 4.00 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category and
Downgraded from CARE B; Stable
Short Term Bank 2.45 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated October 18,
2023, placed the rating(s) of RPI under the 'issuer
non-cooperating' category as RPI had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
RPI continues to be non-cooperative despite repeated requests for
submission of information through emails dated September 2, 2024,
September 12, 2024 and September 22, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Jaipur (Rajasthan) based RR Prestress Concrete Industries (RPI) was
established in 2007 as a partnership firm by Mr. Rakesh Jain, Mr.
Rajnikant Khandelwal, and Mr. Arjun Khandelwal. The manufacturing
units of the firm are situated at Shrirampur (Maharashtra), Kanji,
Poothmedu, Tiruchirappalli, Kidarkondam and Thalaivasal (Tamil
Nadu) and Vaishali (Bihar).
S K PETRO: CARE Keeps D Debt Ratings in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of S K Petro
Services Private Limited (SKPSPL) continue to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 27.75 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
category
Long Term/ 11.00 CARE D/CARE D; ISSUER NOT
Short Term COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 4,
2023, placed the rating(s) of SKPSPL under the 'issuer
non-cooperating' category as SKPSPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. SKPSPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 19, 2024, October 29, 2024, December 27, 2024 among
others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not applicable
S K Petro Services Private Limited (SKPSPL), which began operations
in 2006, is engaged in the business of renting of infrastructure
equipment servicing the oil & gas. SKPSPL is an Onshore Rig Service
provider. SKPSPL primary focus is on providing drilling rigs
equipped with the latest technology, equipment and experienced
crew. Most of the rigs are equipped with top drives to undertake
highly specialized drilling operations in technically challenging
environment. SKPSPL has ownership of all the 10 Rigs which it
leases out.
S. S. AGRO: CARE Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of S.S. Agro
(SSA) continue to remain in the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 20.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 5.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale & Key Rating Drivers
CARE Ratings Ltd. had, vide its press release dated December 22,
2023, placed the rating(s) of SSA under the 'issuer
non-cooperating' category as SSA had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
SSA continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated November 6, 2024,
November 16, 2024, November 26, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Combined.
The financial and business risk profiles of S.S. Agro and S. S.
Overseas have been combined as both the entities (together referred
to as 'S.S. Group') operate in the same line of business, are
promoted by the same promoter group, have common management team
and operational linkages.
Outlook: Not Applicable
S. S. Agro (SSA) belongs to the S.S. Group, founded in 1990. The
group primarily comprises of three entities - SSA, S. S. Overseas
and S. S. Timber Traders. Both SSA and SSO are engaged in the
processing of paddy and rice and also sell its byproducts like
bardana, bran, husk, etc. Both SSA and SSO have their manufacturing
units located in Jalalabad, Punjab.
Status of non-cooperation with previous CRA: CRISIL has continued
the ratings assigned to the bank facilities of SSA into 'Issuer
not-cooperating' category vide press release dated November 23,
2023 on account of non-availability of requisite information from
the Firm.
BRICKWORK has continued the ratings assigned to the bank facilities
of SSA into 'Issuer not-cooperating' category vide press release
dated November 15, 2024 on account of non-availability of requisite
information from the Firm.
S. S. OVERSEAS: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of S. S.
Overseas (SSO) continue to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 20.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 5.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale & Key Rating Drivers
CARE Ratings Ltd. had, vide its press release dated December 22,
2023, placed the rating(s) of SSO under the 'issuer
non-cooperating' category as SSO had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
SSO continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated November 6, 2024,
November 16, 2024, November 26, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Combined.
The financial and business risk profiles of S. S. Overseas and S.S.
Agro have been combined as both the entities (together referred to
as 'S.S. Group') operate in the same line of business, are promoted
by the same promoter group, have common management team and
operational linkages.
Outlook: Not Applicable
S. S. Overseas (SSO) belongs to the S.S. Group, founded in 1990.
The group primarily comprises of three entities - SSO, S. S. Agro
and S. S. Timber Traders. Both SSO and SSA are engaged in the
processing of paddy and rice and also sell its by-products like
bardana, bran, husk, etc. Both SSO and SSA have their manufacturing
units located in Jalalabad, Punjab.
Status of non-cooperation with previous CRA: CRISIL has continued
the ratings assigned to the bank facilities of SSO into 'Issuer
not-cooperating' category vide press release dated November 23,
2023 on account of non-availability of requisite information from
the firm.
BRICKWORK has continued the ratings assigned to the bank facilities
of SSO into 'Issuer not-cooperating' category vide press release
dated July 29, 2024 on account of non-availability of requisite
information from the firm.
SHUBH PLY: CARE Keeps D Debt Ratings in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Shubh Ply
& Veneers Private Limited (SPVPL) continue to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 8.40 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 6.10 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 1,
2023, placed the rating(s) of SPVPL under the 'issuer
non-cooperating' category as SPVPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. SPVPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
September 16, 2024, September 26, 2024, October 6, 2024 among
others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Gandhidham (Gujarat) based Shubh Ply and Veneers Private Limited
(SPVPL) was incorporated in 2007 as a private limited company by
Mr. Mohanlal Lalwani and family and is engaged into manufacturing
and trading of plywood, block board, flush doors and veneers.
SRINIVASA RICE: CARE Keeps C Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Srinivasa
Rice Industry (SRI) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 6.80 CARE C; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 21,
2023, placed the rating(s) of SRI under the 'issuer
non-cooperating' category as SRI had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
SRI continues to be non-cooperative despite repeated requests for
submission of information through emails dated November 5, 2024,
November 15, 2024, November 25, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Srinivasa Rice Industry (SRI) was established in 2013 as a
partnership firm. It was promoted by Mr. M Surya Prabhakara Rao,
Mr. M. Venkata Ratnam, Ms. M. Suji and Mr. D Venkateswara Rao. SRI
is engaged in milling and processing of rice. The rice milling unit
of the company is located at East Godavari District, Andhra
Pradesh, with an installed capacity to process 15400 metric tons
per annum Apart from rice processing, the firm is also engaged in
selling by-products such as broken rice, husk and bran.
Status of non-cooperation with previous CRA: Brickwork has
continued the rating assigned to the bank facilities of SRI into
Issuer Not Cooperating category vide press release dated January
22, 2024 on account of its inability to carry out a review in the
absence of the requisite information from the firm.
SUPERTECH TOWNSHIP: Lender Rejects Settlement Proposal
------------------------------------------------------
The Economic Times reports that Punjab & Sind Bank, the lead lender
of Supertech Township Projects, has rejected the settlement
proposal and NCLAT will now take a final decision on the insolvency
of the debt-ridden realty firm. Counsel representing Ram Kishore
Arora, the suspended director of the realty firm informed NCLAT on
Jan. 9 about the rejection of the settlement proposal.
"Counsel for the appellant (Arora) submits that they have received
the communication from Punjab & Sind Bank that the proposal
submitted by the appellant is not acceptable," noted an NCLAT order
recording the submissions.
ET relates that a three-member bench of the National Company Law
Appellate Tribunal (NCLAT) said it will have to take a "final
decision" in the matter as the appeal has been pending for the last
several months.
"As a last opportunity, one-week time is allowed to the appellant,"
said NCLAT directing to list the matter on January 23 for the next
hearing.
Supertech Township Projects is developing a Group Housing Project -
Golf Country at Yamuna Expressway, Greater Noida, UP.
The bench, which also comprised Chairperson Justice Ashok Bhushan,
said the interim order passed by it earlier would continue, ET
relays.
During the proceedings of NCLAT, the registered homebuyers
association submitted that the homebuyers also did not agree with
the settlement proposal by Arora, according to ET.
Another set of homebuyers submitted that they do not support the
insolvency of Supertech Township Projects.
Recording these submissions, NCLAT said: "Be that as it may, we
have to take a final decision in the matter the appeal having been
pending for last several months," ET relays.
On July 30, 2024, NCLAT stayed the insolvency proceedings against
Supertech Township Projects after the realty firm proposed to
settle its disputes with Punjab & Sind Bank, ET recalls.
ET notes that the Corporate Insolvency Resolution Process (CIRP)
was initiated by the Delhi bench of the National Company Law
Tribunal (NCLT) against Supertech Township Projects admitting a
plea filed by the lender over a default of INR216.92 crore and had
appointed an interim resolution professional to run the company.
This was challenged by Arora before NCLAT, which on July 30, 2024
had stayed the insolvency proceedings against Supertech Township
Projects after it proposed to settle its disputes with the lender.
Supertech Township Project Limited commenced insolvency proceedings
on July 12, 2024.
TIRUPATI STEEL: CARE Keeps B- Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Tirupati
Steel Enterprises (TSE) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 20.00 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated December 20,
2023, placed the rating(s) of TSE under the 'issuer
non-cooperating' category as TSE had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
TSE continues to be non-cooperative despite repeated requests for
submission of information through emails dated November 4, 2024,
November 14, 2024, November 24, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Tirupati Steel Enterprises (TSE) was set up as a proprietorship
concern in 1993 by Raipur-based Shri Sambhudayal Garg. Since
inception, TSE is engaged in the trading of various steel related
products. It is also an authorized dealer of Steel Authority of
India Limited (SAIL) and Jindal Steel and Power Ltd (JSPL) for
selling structural steel products like angle, channels, beams and
columns.
Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of TSE into Issuer Not
Cooperating category vide press release dated September 30, 2024 on
account of its inability to carry out a review in the absence of
the requisite information from the firm.
Infomerics has moved the rating assigned to the bank facilities of
TSE into Issuer Not Cooperating category vide press release dated
May 20, 2024 on account of its inability to carry out a review in
the absence of the requisite information from the firm.
VEDANTA RESOURCES: S&P Puts 'B' LongTerm ICR on Watch Positive
--------------------------------------------------------------
S&P Global Ratings placed on CreditWatch with positive implications
its 'B' long-term foreign currency issuer credit rating on Vedanta
Resources and the 'B-' long-term issue ratings on the various U.S.
dollar-denominated senior unsecured notes the company issued or
guaranteed.
S&P said, "We also assigned our preliminary 'B' rating to the
proposed senior unsecured notes that Vedanta Resources Finance II
PLC proposes to issue and Vedanta Resources will guarantee.
"We aim to resolve the CreditWatch once Vedanta Resources completes
the refinancing of the 2026 notes.
"We placed our ratings on Vedanta Resources Ltd. on CreditWatch
with positive implications to reflect a likely material reduction
in the company's liquidity and refinancing risk, as well as its
progress toward a sustainable capital structure. This follows
Vedanta Resources' proposed fundraising of at least US$1.05 billion
through a combination of bonds and bank loans. A part of this
amount will be used to refinance the company's US$600 million bonds
due in April 2026.
"We viewed this bond maturity, together with repayment of a US$550
million private loan in April 2026, as a key credit risk. The
refinancing of the bonds will plug most of the about US$700 million
funding gap we estimated the company would have in April 2026.
Vedanta Resources will have debt maturities of about US$950 million
in 2025. We believe a large part of this would be met through
internal cash flows, with small amounts of refinancing supported by
the company's improving access to funding."
If Vedanta Resources successfully addresses the key April 2026 debt
maturities through the proposed transactions, it will have no major
debt maturities until September 2029, when US$1.2 billion of bonds
are due. The company's internal cash flows should comfortably cover
debt maturities of less than US$500 million each in 2027 and 2028,
based on the current debt maturity profile.
With no persistent refinancing pressure, which has constrained
Vedanta Resources' credit profile for the past four to five years,
the company should be in a position to substantially improve its
capital structure. The rating on Vedanta Resources will then be
influenced mostly by the company's business and financial
fundamentals, rather than its refinancing risk and liquidity
concerns.
The current rating on Vedanta Resources reflects the company's
strong operational fundamentals. It also reflects its evolving
funding access following its debt restructuring in January 2024.
Vedanta Resources has high debt levels and an inefficient corporate
structure, especially given its reliance on dividends and brand
fees from subsidiaries for debt servicing.
Proposed issue rating
S&P assigned a preliminary 'B' long-term issue rating to the senior
unsecured notes that Vedanta Resources Finance II PLC proposes to
issue. Vedanta Resources, along with wholly owned subsidiaries Twin
Star Holdings Ltd. and Welter Trading Ltd., will guarantee the
notes. Vedanta Resources intends to use the proceeds to refinance
the remaining notes maturing in 2028 and fund the tender for the
2026 notes.
The rating is preliminary and will be confirmed once the
refinancing of the 2026 notes is certain.
S&P said, "We notch down the issue rating from our expected issuer
rating on Vedanta Resources post the transaction. The notching
reflects material subordination risk for unsecured lenders due to
the presence of substantial secured and priority debt in the
company's capital structure. Please refer to our rating action on
the company's issue ratings following a review of India's
jurisdiction ranking in October 2024."
CreditWatch
S&P said, "We aim to resolve the CreditWatch once Vedanta Resources
completes the refinancing of the 2026 notes. This will likely
result in a one notch higher issuer credit rating to 'B+'. The
issue ratings on the company's US$600 million April 2026 notes,
US$300 million June 2028 notes, US$1.2 billion 2029 notes, and
US$500 million 2031 notes will likely be raised to 'B' from 'B-',
one notch below the issuer credit rating.
"We would affirm the 'B' issuer credit rating and 'B-' issue
ratings on all outstanding notes if Vedanta Resources fails to
complete the proposed funding transactions."
=========
J A P A N
=========
[*] JAPAN: Record Number of Ramen Eateries Went Bankrupt in 2024
----------------------------------------------------------------
Peter Masheter at Kyodo News reports that a record number of ramen
noodle eatery operators in Japan went out of business in 2024,
according to a research firm, as the food's reputation for
affordability limits room to raise prices amid soaring ingredient
and utility costs.
Also hit by climbing personnel expenses due to labor shortages,
insolvencies among ramen business operators resulting in
liabilities of at least JPY10 million in 2024 jumped over 30
percent to 72, up from 53 in 2023, Teikoku Databank Ltd said.
Japanese ramen soup noodles typically combine meat and vegetable
toppings with broth. Despite rising costs, the average price of a
bowl of ramen is still under JPY700, according to Teikoku Databank,
Kyodo News relays. A popular lunchtime staple or late-night guilty
pleasure, ramen has also found fans overseas.
But with 2024 ingredient costs as of October up by an average of
over 10 percent from 2022, businesses face having to bring prices
closer to JPY1,000. Though low compared with many dining options,
crossing that line is seen as a blow to ramen's everyman image that
could drive away diners.
According to Kyodo News, Takatoyo Sato, manager of noodle eatery
Menkoi Dokoro Kiraku in the capital's Shimbashi business district,
said he last upped prices in May 2024 in response to tightening
business conditions. Most popular among his local clientele is its
shoyu ramen with soy sauce-based broth for JPY950, up from JPY780
in 2021.
"I couldn't hesitate in raising prices, otherwise we'd have been in
the red," the 52-year-old said on a break between lunch and dinner
service during one of the 17-hour shifts he works six days a week.
Nearly 34 percent of the around 350 ramen eatery businesses
surveyed by Teikoku Databank reported that they were running at a
loss in fiscal 2023, Kyodo News discloses.
Kyodo News relates that Sato said the decision had not been
received well by all his regulars. "Custom definitely fell after.
People don't say it, but they think it's just ramen -- that view is
going to change," he said, referring to the rising costs of serving
up the familiar comfort food.
Some consumers are shifting their perceptions. Munayoshi Suzuki, a
34-year-old Tokyo resident, said he thinks diners have been
"spoiled" by low prices, and the food is a "non-necessity" more
akin to cigarettes or alcohol.
Into 2025, Teikoku Databank said bankruptcies could continue, with
small and medium-sized businesses likely to be more reluctant than
larger chains to revise their menu prices.
Sato, too, said he does not think customers can be convinced to pay
more just yet. "We'll just pray costs don't go up further this
year."
=====================
N E W Z E A L A N D
=====================
IBM GLOBAL: Creditors' Proofs of Debt Due on Jan. 31
----------------------------------------------------
Creditors of IBM Global Financing New Zealand 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. 13, 2024.
The company's liquidators are:
Kare Johnstone
Andrew Grenfell
McGrathNicol
Level 17, 41 Shortland Street
Auckland 1010
KITCHEN STORY: Court to Hear Wind-Up Petition on Feb. 28
--------------------------------------------------------
A petition to wind up the operations of Kitchen Story Limited will
be heard before the High Court at Auckland on Feb. 28, 2025, at
10:45 a.m.
Mastercraft Services (NZ) Limited filed the petition against the
company on Nov. 20, 2024.
The Petitioner's solicitor is:
J. K. Hamilton
5/32 Harington Street
Tauranga 3110
SMILES ROOFING: Court to Hear Wind-Up Petition on Feb. 28
---------------------------------------------------------
A petition to wind up the operations of Smiles Roofing Limited will
be heard before the High Court at Auckland on Feb. 28, 2025 at
10:00 a.m.
The Commissioner of Inland Revenue filed the petition against the
company on Nov. 21, 2024.
The Petitioner's solicitor is:
Cloete Van Der Merwe
Inland Revenue, Legal Services
5 Osterley Way
Manukau City
Auckland 2104
TIMOTEO BUILDERS: Creditors' Proofs of Debt Due on Feb. 19
----------------------------------------------------------
Creditors of Timoteo Builders Limited, Gavin Welsh Farriery
Limited, The Bakers Dozen Limited, Kiwi Roofing Solutions Limited,
B A Heat Pumps Limited, Inxs Plumbing Limited, Biotech 2000 Limited
and Burnett Couriers Limited are required to file their proofs of
debt by Feb. 19, 2025, to be included in the company's dividend
distribution.
The companies commenced wind-up proceedings on Dec. 18, 2024.
The liquidators can be reached at:
Iain Bruce Shephard
Jessica Jane Kellow
BDO Wellington, Business Restructuring
Level 1, 50 Customhouse Quay
Wellington 6011
VU RESORT: Creditors' Proofs of Debt Due on Feb. 10
---------------------------------------------------
Creditors of Vu Resort Management Limited are required to file
their proofs of debt by Feb. 10, 2025, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Dec. 17, 2024.
The company's liquidators are:
Daran Nair
Heiko Draht
Nair Draht Limited
97 Great South Road
Epsom
Auckland 1051
=================
S I N G A P O R E
=================
AVIS BUDGET: Creditors' Proofs of Debt Due on Feb. 7
----------------------------------------------------
Creditors of Avis Budget International Capital (Singapore) Pte.
Ltd. are required to file their proofs of debt by Feb. 7, 2025, to
be included in the company's dividend distribution.
The company commenced wind-up proceedings on Jan. 2, 2025.
The company's liquidators are:
Lau Chin Huat
Yeo Boon Keong
c/o Technic Inter-Asia
50 Havelock Road, #02-767
Singapore 160050
HK.JUAN RENOVATION: Court to Hear Wind-Up Petition on Jan. 24
-------------------------------------------------------------
A petition to wind up the operations of HK.Juan Renovation Pte.
Ltd. will be heard before the High Court of Singapore on Jan. 24,
2025, at 10:00 a.m.
Maybank Singapore Limited filed the petition against the company on
Jan. 3, 2025.
The Petitioner's solicitors are:
M/s Advent Law Corporation
111 North Bridge Road
#25-03 Peninsula Plaza
Singapore 179098
MERCURY CAPITAL: Creditors' Proofs of Debt Due on Feb. 10
---------------------------------------------------------
Creditors of Mercury Capital Advisors Pte. Ltd. are required to
file their proofs of debt by Feb. 10, 2025, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Dec. 30, 2024.
The company's liquidator is:
Chek Khai Juat
c/o Tricor Singapor
9 Raffles Place
#26-01 Republic Plaza
Singapore 048619
MIBA FAR EAST: Commences Wind-Up Proceedings
--------------------------------------------
Members of Miba Far East Pte. Ltd. on Dec. 30, 2024, passed a
resolution to voluntarily wind up the company's operations.
The company's liquidator is:
Dr. Knut Unger
Luther LLP
4 Battery Road
#25-01 Bank of China Building
049908 Singapore
SYMPHONY W&C: Commences Wind-Up Proceedings
-------------------------------------------
Members of Symphony W&C Pte. Ltd. on Dec. 30, 2024, passed a
resolution to voluntarily wind up the company's operations.
The company's liquidator is:
Chee Fung Mei
Chee FM & Associates
110 Middle Road, #05-00
Singapore 188968
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week Jan. 6, 2025 to Jan. 10, 2025
------------------------------------------------------------
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 2025. 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 ***