/raid1/www/Hosts/bankrupt/TCRAP_Public/210618.mbx        T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

          Friday, June 18, 2021, Vol. 24, No. 116

                           Headlines



A U S T R A L I A

CUMMINS BUILDING: First Creditors' Meeting Set for June 25
DART ENERGY: Second Creditors' Meeting Set for June 25
KLEENMAID GROUP: Court Orders New Trial for Former Director
PRECAST AUSTRALIA: Second Creditors' Meeting Set for June 25
SUNTEC HOSPITALITY: First Creditors' Meeting Set for June 24



C H I N A

CHINA HUARONG: To Sell Assets as Rescue Plan Gets Underway
SUNING HOLDINGS: CNY4.2BB Bond Repayment Postponed for 2 Years


I N D I A

AASTHA COLD: CARE Keeps D Debt Rating in Not Cooperating
ADILABAD EXPRESSWAY: CARE Reaffirms D Rating on INR160.43cr Loan
AJEET AND COMPANY: CARE Keeps D Debt Ratings in Not Cooperating
AMAR COTTEX: CARE Keeps D Debt Rating in Not Cooperating
ANLON HEALTHCARE: CARE Keeps D Debt Ratings in Not Cooperating

APEX ELECTRO: Insolvency Resolution Process Case Summary
ASTERISM PHARMACEUTICALS: Insolvency Resolution Case Summary
AVIS INDIA: CARE Lowers Rating on INR5cr LT Loan to B-
AVIS PROJECTS: CARE Lowers Rating on INR5cr LT Loan to B-
BHADRESHWAR VIDYUT: CARE Keeps D Debt Ratings in Not Cooperating

DAGAR FARM: CARE Keeps D Debt Rating in Not Cooperating
FIRST CHOICE: First Creditors' Meeting Set for June 28
GALAXY ENTERPRISE: CARE Lowers Rating on INR10cr LT Loan to B
GLASS BUILD: CARE Lowers Rating on INR10cr LT Loan to B-
HARIOM RICE: Insolvency Resolution Process Case Summary

HAZARIBAGH RANCHI: CARE Keeps D Debt Ratings in Not Cooperating
INCREDIBLE REALCON: CARE Keeps D Debt Rating in Not Cooperating
INDIA: 200 Insolvency Applications Filed Since March
INLED TECHNOLOGIES: CARE Keeps B+ Debt Rating in Not Cooperating
INTERJEWEL DESIGNS: CARE Keeps D Debt Rating in Not Cooperating

JKS THE BANYAAN: Insolvency Resolution Process Case Summary
KD INFRAENGICON: CARE Keeps D Debt Ratings in Not Cooperating
KRISHNAGANGA SPINNING: CARE Keeps C Ratings in Not Cooperating
MOD AGE: CARE Keeps D Debt Rating in Not Cooperating Category
NARAYAN COLD: CARE Lowers Rating on INR8.35cr LT Loan to B-

PAE LIMITED: CARE Keeps D Debt Ratings in Not Cooperating
PONDICHERRY EXTRACTION: Insolvency Resolution Process Case Summary
RADHE COTTON: CARE Keeps D Debt Rating in Not Cooperating
SAHA INFRATECH: CARE Keeps D Debt Rating in Not Cooperating
SHIVSWATI ENTERPRISES: CARE Keeps D Debt Rating in Not Cooperating

SOFTEL OVESEAS: CARE Keeps D Debt Rating in Not Cooperating
SPS EDUCATIONAL: CARE Keeps D Debt Rating in Not Cooperating
SR (MCB) ENGINEERS: Insolvency Resolution Process Case Summary
SREEKANTH PIPES: CARE Keeps D Debt Ratings in Not Cooperating
SUN CORPORATION: CARE Lowers Rating on INR12cr LT Loan to B

TUFF TUBES: Insolvency Resolution Process Case Summary
VISWABHARATHI EDUCATIONAL: CARE Keeps D Rating in Not Cooperating
WIZCRAFT INTERNATIONAL: Insolvency Resolution Process Case Summary


P H I L I P P I N E S

OCCIDENTAL MINDORO RURAL: July 30 Claims Filing Deadline Set
PALM TREE BANK: Claims Filing Deadline Set for July 26


S I N G A P O R E

EAGLE HOSPITALITY: Gets US$153.9MM in Net Proceeds from Asset Sale

                           - - - - -


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

CUMMINS BUILDING: First Creditors' Meeting Set for June 25
----------------------------------------------------------
A first meeting of the creditors in the proceedings of Cummins
Building Pty Ltd will be held on June 25, 2021, at 11:00 a.m. via
video conference or teleconference.

Nicarson Natkunarajah of Roger and Carson Pty. Limited was
appointed as administrator of Cummins Building on June 15, 2021.



DART ENERGY: Second Creditors' Meeting Set for June 25
------------------------------------------------------
A second meeting of creditors in the proceedings of Dart Energy Pty
Ltd has been set for June 25, 2021, at 6:00 p.m. via virtual
meeting.

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 June 24, 2021, at 5:30 p.m.

Vincent Pirina and Ian Niccol of Aston Chace Group were appointed
as administrators of Dart Energy on May 20, 2021.


KLEENMAID GROUP: Court Orders New Trial for Former Director
-----------------------------------------------------------
On June 15, 2021, the Court of Appeal of the Supreme Court of
Queensland delivered its decision regarding an appeal against
conviction and sentence brought by Mr. Andrew Eric Young, a former
director of the Kleenmaid group of companies.

The prosecution of Andrew Young arose out of the collapse of the
Kleenmaid group.  At the time of the collapse, the consolidated
debts of the Kleenmaid group amounted to approximately AUD96
million, which included AUD26 million owed to customers who had
paid deposits for white goods that had not yet been delivered.

Mr. Young appealed against all of his convictions on two counts of
fraud and 17 counts of insolvent trading delivered in the District
Court of Queensland on January 10, 2020. One of the primary grounds
of appeal of Mr. Young was that the convictions were unreasonable
and not supported by evidence.

The Court of Appeal found that Mr. Young's convictions were neither
unreasonable nor unsupported by the evidence. However, the Court of
Appeal held that the trial Judge had erred by not referring the
question of whether Mr. Young was fit to be tried to the jury to
decide.

A new trial has been ordered on all 19 counts and the convictions
have been set aside.

The matter was prosecuted by the Commonwealth Director of Public
Prosecutions (CDPP).

ASIC investigation into Kleenmaid resulted in other successful
prosecutions of officers of Kleenmaid for charges of insolvent
trading and fraud.

ASIC will continue to pursue criminal action against company
officers for egregious governance failures that put at risk
companies and the public.

In February 2012, the three former directors of the Kleenmaid group
including Mr. Young, his brother, Bradley Wendell Young (Bradley)
and Gary Collyer Armstrong first appeared in court on criminal
charges following ASIC's investigation.

On April 4, 2016, a trial commenced in relation to the charges
against Mr. Young and Bradley.  On day 11 the jury was discharged
from returning a verdict in relation to Mr. Young.  The trial
continued in relation to Bradley who was convicted and sentenced.

A second trial commenced in relation to Mr. Young on August 28,
2017.  Mr. Young represented himself at the trial.  On day 22 of
the second trial the jury was discharged.

Mr Young's third trial commenced on September 16, 2019.  On day 15
of the trial he became self-represented and remained so for the
duration of the trial.

                        About Kleenmaid Group

Founded in 1985, Kleenmaid Group -- http://www.kleenmaid.com.au/--
sold kitchen and laundry appliances.

The Troubled Company Reporter-Asia Pacific reported on April 13,
2009, that Kleenmaid Group has been placed into administration. The
company appointed Deloitte partners John Greig, Richard Hughes and
David Lombe as voluntary administrators.  A TCR-AP report on May
26, 2009, said the creditors of Kleenmaid Group voted to wind up
the company at a meeting in Brisbane.

The TCR-AP, citing a report posted at news.com.au, said that the
administrators had recommended that Kleenmaid be put into
liquidation, saying the company may have been insolvent as early as
June 2007.  The administrators said Kleenmaid creditors are
owed AUD102 million, which included AUD3 million owed to Kleenmaid
employees.

PRECAST AUSTRALIA: Second Creditors' Meeting Set for June 25
------------------------------------------------------------
A second meeting of creditors in the proceedings of Precast
Australia Pty Ltd, formerly trading as "Perth Precast" and "Precast
Australia", has been set for June 25, 2021, at 10:00 a.m. virtual
meeting technology.

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 June 24, 2021, at 5:00 p.m.

Mathieu Tribut of GTS Advisory was appointed as administrator of
Precast Australia on May 19, 2021.


SUNTEC HOSPITALITY: First Creditors' Meeting Set for June 24
------------------------------------------------------------
A first meeting of the creditors in the proceedings of Suntec
Hospitality Pty Ltd will be held on June 24, 2021, at 11:00 a.m.
via Webinar facilities.

Philip Campbell-Wilson and John McInerney of Grant Thornton
Australia Limited were appointed as administrators of Suntec
Hospitality on June 15, 2021.




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

CHINA HUARONG: To Sell Assets as Rescue Plan Gets Underway
----------------------------------------------------------
Quan Yue and Luo Meihan at Caixin Global report that debt-ridden
China Huarong Asset Management Co. Ltd. is attempting to raise cash
by selling its stakes in seven units as part of a restructuring to
help repay billions of yuan of bonds and reduce the financial risks
accumulated from years of corruption and bad investments.

The assets to be offloaded are holdings in five financial units
including a regional lender, a nonperforming assets trading company
and a regional asset management company (AMC), sources with
knowledge of the matter told Caixin. The seven companies hold a
combined CNY700 billion ($109 billion) in total assets.

Caixin relates that the disposals, if completed, will see Huarong's
total assets shrink to about CNY1 trillion and mark the beginning
of the state-owned bad-debt manager's substantial efforts to fill
its financial black hole and return to its core business of
disposing of distressed financial assets, something regulators have
demanded of all "Big Four" state-owned AMCs.

                         About China Huarong

China Huarong Asset Management Co., Ltd., together with its
subsidiaries, provides various financial asset management
services.

As reported in the Troubled Company Reporter-Asia Pacific on April
16, 2021, Moody's Investors Service has placed the A3 long-term and
P-2 short-term issuer ratings, as well as the b1 baseline credit
assessment, of China Huarong Asset Management Co., Ltd. (Huarong
AMC) under review for downgrade.  In addition, Moody's has placed
the debt ratings and medium-term note (MTN) program ratings of
Huarong AMC's offshore financing vehicles under review for
downgrade. These include the Baa1 long-term backed senior unsecured
debt ratings and the (P)Baa1 backed senior unsecured MTN program
ratings of Huarong Finance 2017 Co., Ltd and Huarong Finance II
Co., Ltd, as well as the Baa1 long-term backed senior unsecured
debt rating, the (P)Baa1 long-term and (P)P-2 short-term backed
senior unsecured MTN program ratings of Huarong Finance 2019 Co.,
Ltd.


SUNING HOLDINGS: CNY4.2BB Bond Repayment Postponed for 2 Years
--------------------------------------------------------------
Caixin Global reports that Suning Holdings Group Co., Ltd, has
received approval from the holders of its CNY4.2 billion ($656.5
million) bond to delay repayment amid increasingly desperate plans
to claw its way out of mounting debt, including turfing out
employees from purpose-built apartments in the hope of selling the
properties.

The five-year bond, issued by Suning Appliance Group Co. Ltd., an
affiliate of Suning Holdings Group, was due on June 16, but
repayment has been postponed for two years, according to a company
filing to the Shenzhen Stock Exchange seen by Caixin. The bond's
coupon rate is 6.5%.

Caixin says the delay illustrates how the owner of football club
Inter Milan is still struggling, despite receiving billions of yuan
in state bailouts after losses at its core retail business mounted
last year and amid the debt it took on to fund an acquisition spree
from 2015 to 2019.

Suning Holdings Group Co. Ltd. provides business services. The
Company offers retail services, real estate services, investment
services, financial services, and more. Suning Holdings Group
serves customers worldwide.




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

AASTHA COLD: CARE Keeps D Debt Rating in Not Cooperating
--------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Aastha Cold
Storage (ACS) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        7.90      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated June 1, 2020, placed the
rating of ACS under the 'issuer noncooperating' category as ACS had
failed to provide information for monitoring of the rating for the
rating exercise as agreed to in its Rating Agreement. ACS continues
to be non-cooperative despite repeated requests for submission of
information through phone calls and emails dated April 17, 2021,
April 27, 2021, May 2, 2021, May 7, 2021 and May 13, 2021. In line
with the extant SEBI guidelines, CARE has reviewed the ratings on
the basis of the best available information which however, in
CARE'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 ratings.

Deesa-based (Gujarat) Aastha Cold Storage (ACS) is a partnership
firm engaged in the business of providing cold storage services.
Established in the year 2013, ACS is operating from its plant
located at Modasa-Gujarat. ACS has installed capacity of 5000
metric tonnes of storage capacity as on March 31, 2015.

ADILABAD EXPRESSWAY: CARE Reaffirms D Rating on INR160.43cr Loan
----------------------------------------------------------------
CARE Ratings reaffirmed ratings on certain bank facilities of
Adilabad Expressway Private Limited (AEPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       160.43     CARE D Rating removed from
   Facilities                      ISSUER NOT COOPERATING category
                                   and Reaffirmed

Detailed Rationale & Key Rating Drivers

The rating assigned to the bank facilities AEPL continue to factor
the delays in servicing of the debt obligation owing to the
stretched liquidity position of the company.

Rating Sensitivities:

Positive Factors - Factors that could lead to positive rating
action/upgrade:

* Timely servicing of interest and principal repayment obligation
coupled with a delay free track record for a continuous period of 3
months.

Detailed description of the key rating drivers

Key Rating Weakness

* Delay in debt servicing obligations: Tightly matched annuity
amounts received from NHAI towards debt servicing obligations
compounded with significant amount of deduction in 17th annuity by
NHAI during May 2018 on account of delay in completing its first
major maintenance which was due in FY2016, resulted in severe
cashflow mismatch leading to strain in liquidity resulting in delay
in debt servicing obligations.  The company continues to service
debt with delay.

Liquidity Profile: Poor

Liquidity position of the company is poor, marked by tightly
matched annuity amounts of INR62.96 crore against the debt
servicing obligations of about INR84 crore for FY20 including
interest and principal overdue of INR25 crore. Company also has
availed moratorium benefit from L&T Infrastructure Finance for a
period of six months from March 2020 to August 2020 as per the RBI
Scheme on Covid package.

Adilabad Expressway Private Limited (AEPL) is a special purpose
vehicle (SPV) promoted by Soma Enterprise Limited (5.59%) along
with its road holding company Soma Tollways Private Limited
(94.40%), to design, construct, operate, and maintain a road
stretch of 55 km of four lane on NH—7 in Telangana on an Annuity
basis. The concession period for the project is 20 years including
2 years of construction period. The project commenced operations on
June 24, 2010 against the scheduled project completion date
November 2, 2009. The company has received provisional completion
certificate, however due to delay in achieving the commercial
operations, the increase in project cost was funded by short term
loan of INR24 crore and balance by the promoters. As per CA with
NHAI, AEPL is eligible to receive semi-annual annuity of INR31.48
crore from NHAI from 180 days
from the occurrence of COD. The company received 23 annuity
installments till May 4, 2021.


AJEET AND COMPANY: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ajeet and
Company (AC) continues to remain in the 'Issuer Not Cooperating'
category.
                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term/Short      14.00      CARE D; ISSUER NOT COOPERATING
   Term Bank                       Rating continues to remain
   Facilities                      under ISSUER NOT COOPERATING
                                   category

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

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 12, 2020, placed the
rating(s) of AC under the 'issuer noncooperating' category as A had
failed to provide information for monitoring of the rating exercise
as agreed to in its Rating Agreement. AC continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter dated March
28, 2021 and April 17, 2021 among others.  In line with the extant
SEBI guidelines, CARE has reviewed the rating on the basis of the
best available information which however, in CARE'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.

Established in 1950 as proprietary concern & later converted into
partnership concern, Ajeet & Company (AC) is engaged in trading of
whey protein products and timber (teakwood/hardwood) products.
Further Since FY15 the entity has started more concentrating
towards trading of whey protein products only (forming ~99% of the
TOI in FY17) which are imported directly from USA and timber
trading (forming remaining portion of TOI in FY17) wherein it
imports (teakwood / hardwood) from Myanmar, Southeast Asian
countries, African countries & Central & South American countries.
AC in its protein segment deals in brands such as Dymatize, Ronniee
Colemen, Bio Sports and Fitness Pro and is the authorized importer
and reseller in India of Dymatize and Ronnie Colemen Signature
Series. Further the entity sells through online portals, agents and
other local distributors.

AMAR COTTEX: CARE Keeps D Debt Rating in Not Cooperating
--------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Amar Cottex
Private Limited (ACPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        7.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated June 1, 2020, placed the
rating ACPL under the 'issuer non-cooperating' category as ACPL had
failed to provide information for monitoring of the rating for the
rating exercise as agreed to in its Rating Agreement. ACPL
continues to be non-cooperative despite repeated requests for
submission of information through phone calls and emails dated
April 17, 2021, April 27, 2021, May 2, 2021, May 7, 2021, and May
13, 2021. In line with the extant SEBI guidelines, CARE has
reviewed the ratings on the basis of the best available information
which however, in CARE'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 ratings.

Rajkot-based ACPL was incorporated in March 2011, by Mr Nilesh
Devjibhai Sakhiya and Mr Naranbhai Karsanbhai Ramani as a private
limited company. ACPL is engaged in the cotton ginning and pressing
activity and started commercial production from November 2011. Mr
Jayraj Vekariya is managing the overall business operation of ACPL.
ACPL has installed capacity of 6,800 metric tonnes per annum (MTPA)
as on March 31, 2015, for cotton bales at its sole manufacturing
facility located at Rajkot (Gujarat).


ANLON HEALTHCARE: CARE Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Anlon
Healthcare Private Limited (AHPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       11.50      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

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

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 20, 2020, placed the
rating(s) of AHPL under the 'issuer non-cooperating' category as
AHPL had failed to provide information for monitoring of the rating
and had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. AHPL continues to be
non-cooperative despite repeated requests for submission of
information through phone calls and email dated April 5, 2021,
April 15, 2021, April 25, 2021.  In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE'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.

Rajkot (Gujarat)-based, AHPL was incorporated in March 20, 2014 by
three directors namely Mr. Punit Rasadia, Mr. Vaibhav Ramani and
Mr. Meet Vachhani. The company is setting up a unit for
manufacturing of pharma intermediates and ingredients. The company
will operate with an installed capacity of 11 metric tonne per
month of pharma
intermediates and ingredients which will find its application in
preparation of medicines. Anlon Healthcare Private Limited belongs
to Anlon group with group entity named Anlon Chemical Research
Organization.

APEX ELECTRO: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: Apex Electro Devices Private Limited

        Registered office:
        1809, 2nd Floor, Bhagirath Place
        Delhi 110006

        Corporate office:
        J-10, Sector-11
        Noida 201301

Insolvency Commencement Date: June 8, 2021

Court: National Company Law Tribunal, Bench-IV, New Delhi

Estimated date of closure of
insolvency resolution process: December 5, 2021
                               (180 days from commencement)

Insolvency professional: Akhil Ahuja

Interim Resolution
Professional:            Akhil Ahuja
                         D-65, Ground Floor, ZBC-001
                         Defence Colony
                         New Delhi 110024
                         E-mail: akhil@ahujainsolvency.com
                                 cirp.apexelectro@gmail.com

Last date for
submission of claims:    June 25, 2021


ASTERISM PHARMACEUTICALS: Insolvency Resolution Case Summary
------------------------------------------------------------
Debtor: Asterism Pharmaceuticals Private Limited
        B-2/171, New Kondi Mayur Vihar PH-3
        New Delhi 110096
        India

Insolvency Commencement Date: June 11, 2021

Court: National Company Law Tribunal, Delhi Bench

Estimated date of closure of
insolvency resolution process: December 8, 2021
                               (180 days from commencement)

Insolvency professional: Santosh Sharma

Interim Resolution
Professional:            Santosh Sharma
                         C/o Rajrani Sharma 6/129
                         Near Prakash Dairy
                         Lodhi Mohalla, Shahdara
                         New Delhi
                         National Capital Territory of Delhi
                         110032
                         E-mail: sci.santoshsharma@gmail.com

                            - and -

                         Unit No. 110, First Floor
                         JMD Pacific Square
                         Sector 15, Part II
                         Gurugram, Haryana 122001
                         E-mail: cirp.asterism@gmail.com

Last date for
submission of claims:    June 25, 2021


AVIS INDIA: CARE Lowers Rating on INR5cr LT Loan to B-
------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of Avis
India (AI), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        5.00      CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B+; Stable

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 5, 2020, placed the
rating of AI under the 'issuer non-cooperating' category as AI had
failed to provide information for monitoring of the rating as
agreed to in its Rating Agreement. AI continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
February 26,2021, March 10,2021 and May 17,2021. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE'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 rating has been revised by taking into account no due diligence
conducted and non-availability of information due to noncooperation
by AI with CARE'S efforts to undertake a review of the rating
outstanding. CARE views information availability risk as a key
factor in its assessment of credit risk.

AI is Pune (Maharashtra) based firm established in 1995 by Late Mr.
Vijay Narayan Kulkarni. In May 2018, after the demise of proprietor
his wife Mrs. Aarti Vijay Kulkarni took over as proprietor. The
firm is engaged in the construction of sugar plants and
distilleries and has a group company namely Avis Projects And
Infrastructure Private Limited (APPL) engaged in similar line of
operations.


AVIS PROJECTS: CARE Lowers Rating on INR5cr LT Loan to B-
---------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of Avis
Projects and Infrastructure Private Limited
(APPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        5.00      CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B+; Stable

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 5, 2020, placed the
rating of APPL under the 'issuer non-cooperating' category as APPL
had failed to provide information for monitoring of the rating as
agreed to in its Rating Agreement. APPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
February 26,2021, March 10,2021, May 17,2021 In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE'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 rating has been revised by taking into account no due diligence
conducted and non-availability of information due to noncooperation
by APPL with CARE'S efforts to undertake a review of the rating
outstanding. CARE views information availability risk as a key
factor in its assessment of credit risk. The revision further
factors in deterioration in financial risk profile of the company
in FY20 reflected by decline in revenue, cash accruals, weakening
of debt coverage indicators and elongated operating cycle during
the year.

Incorporated in 2013, APPL is Pune (Maharashtra) based company
managed by Ms. Arati Vijay Kulkarni and Mr. Niranjan Vijay
Kulkarni. The company is engaged in the construction of buildings
and other civil structure and construction of distilleries. The
company's major revenue comes from construction of sugar plant.


BHADRESHWAR VIDYUT: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Bhadreshwar
Vidyut Private Ltd (BVPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank     1,632.40     CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      430.00     CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category
           
   Issuer rating          -        CARE D (Is); ISSUER NOT
                                   COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 12, 2020, placed the
ratings of BVPL under the 'issuer non-cooperating' category as BVPL
had failed to provide information for monitoring of the rating.
BVPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated March 28, 2021,
April 7, 2021 and April 17, 2021. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE'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).

Detailed description of the key rating drivers

At the time of last rating on May 12, 2020 the following were the
rating weaknesses (updated for information available from ROC).

Key Rating weakness

* Ongoing delays in debt servicing: The company has ongoing delays
in servicing its debt obligations. During FY20, BVPL continued to
report after tax loss of INR43 crore as against after tax loss of
INR388 crore during FY19.

Bhadreshwar Vidyut Private Limited comprises two units with a
capacity of 150MW each. One of the units was commissioned in April
2015 and the other plant started operations in January 2016 and
stabilized in June 2016.

DAGAR FARM: CARE Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Dagar Farm
(DF) continues to remain in the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        5.29      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 19, 2020, placed the
ratings of DF under the 'issuer noncooperating' category as DF had
failed to provide information for monitoring of the rating as
agreed to in its Rating Agreement. DF continues to be
non-cooperative despite repeated requests for submission of
information through emails, phone calls and emails dated May 21,
2021, May 19, 2021 and May 17, 2021, etc. In line with the extant
SEBI guidelines, CARE has reviewed the rating on the basis of the
best available information which however, in CARE'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).

Haryana-based Dagar Farm (DF) was established in 2015 as a
proprietorship concern by Mr. Sandeep Dagar. DF is engaged in
poultry farming business which involves growing of 1 day chick into
egg laying birds and then their eggs are incubated till the chicks
grow. The processing facility of the firm is located at Jhajjar,
Haryana with a breeding capacity of 3,00,000 layer birds per
batch.


FIRST CHOICE: First Creditors' Meeting Set for June 28
------------------------------------------------------
A first meeting of the creditors in the proceedings of First Choice
Entertainment Pty Ltd will be held on June 28, 2021, at 11:00 a.m.
via virtual meeting.

Shumit Banerjee of Westburn Advisory was appointed as administrator
of First Choice on June 16, 2021.


GALAXY ENTERPRISE: CARE Lowers Rating on INR10cr LT Loan to B
-------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Galaxy Enterprise (GE), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       10.00      CARE B; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B+

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated June 5, 2020, placed the
rating(s) of GE under the 'issuer noncooperating' category as GE
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement.GE continues to be
non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a email dated April 21, 2021, May 01, 2021, May 11, 2021. In
line with the extant SEBI guidelines, CARE has reviewed the rating
on the basis of the best available information which, however, in
CARE'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 ratings.

The rating assigned to the bank facilities of GE has been revised
on account of non-availability of requisite information to carry
out rating exercise.

Vadodara (Gujarat) based, Galaxy Enterprise (GE) was established as
a partnership firm in August 27, 2014. GE has other entities which
are also engaged into real estate development. The group has
successfully completed number of residential and commercial
projects under different entities in Vadodara. GE is engaged in the
real estate development and is currently executing its residential
cum commercial project named 'Devine Galaxy' at Vadodara, Gujarat.
It comprises of 115 bungalows, 161 flats and 134 shops with total
2,89,453 Sq. Ft.


GLASS BUILD: CARE Lowers Rating on INR10cr LT Loan to B-
--------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Glass Build Industry (GBI), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       10.00      CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B; Stable

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 5,2020, placed the
rating of GBI under the 'issuer noncooperating' category as GBI
failed to provide information for monitoring of the rating as
agreed to in its Rating Agreement. GBI continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 4,2021, May 17,2021 and May 24,2021 as under. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE'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 rating has been revised by taking into account no due diligence
conducted and non-availability of information due to noncooperation
by GBI with CARE'S efforts to undertake a review of the rating
outstanding. CARE views information availability risk as a key
factor in its assessment of credit risk.

GBI is a Nagpur based firm promoted by Mr. Sachin J Pachisia and
was established in September 2017. The entity is expected to be
engaged in the business of manufacturing of laminated and toughened
glass to be used in Auto and Construction Industry at its
manufacturing facility located at Kamtee, Nagpur (Maharashtra). The
proposed capacity of the facility for Toughened glass (5MM) will be
270000 Lakhs Square Meters per month, 60000 Square Meters per month
for Laminated Glass, and 1800 Pieces per month for Bus Glass. The
entity is expected to commence its operations from December 2020.

HARIOM RICE: Insolvency Resolution Process Case Summary
-------------------------------------------------------
Debtor: M/s Hariom Rice Mill Pvt. Ltd
        Vill. & Post-Darrighat Masturdi Road
        Bilaspur 495551
        Chhattisgarh

Insolvency Commencement Date: June 9, 2021

Court: National Company Law Tribunal, Cuttack Bench

Estimated date of closure of
insolvency resolution process: December 7, 2021
                               (180 days from commencement)

Insolvency professional: Mr. Pratim Bayal

Interim Resolution
Professional:            Mr. Pratim Bayal
                         18/1 Tarapukur Main Road
                         Ghosh Para, Agarpara
                         Kolkata 700109
                         E-mail: pratimbayal@gmail.com

                            - and -

                         CK-104, Sector II
                         Salt Lake City
                         Kolkata 700091
                         E-mail: cirp.hariomricemills@gmail.com

Last date for
submission of claims:    June 24, 2021


HAZARIBAGH RANCHI: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Hazaribagh
Ranchi Expressway Limited (HREL) continues to remain in the 'Issuer
Not Cooperating' category.

                        Amount
   Facilities        (INR crore)    Ratings
   ----------        -----------    -------
   Senior Non-          458.00      CARE D; ISSUER NOT COOPERATING
   Convertible                      Rating continues to remain
   Debentures (NCDs)–               Under ISSUER NOT COOPERATING
   Series A                         category

   Subordinate          143.00      CARE D; ISSUER NOT COOPERATING
   Non-Convertible                  Rating continues to remain
   Debentures (NCDs)–               Under ISSUER NOT COOPERATING
   Series A                         category

Detailed Rationale & Key Rating Drivers

HREL has not serviced its debt obligations since April 2019. The
same has been confirmed by the Debenture Trustee to CARE, as part
of CARE's due diligence and from the publication made by HREL on
NSE.  CARE has also received monthly NDS till May 2021, stating
defaults in the debt servicing.

CARE had, vide its press release dated April 4, 2019 and April 16,
2019, placed the ratings of Hazaribagh Ranchi Expressway Limited
(HREL) under the 'issuer non-cooperating' category as HREL had not
paid the surveillance fees for the rating exercise as agreed to in
its Rating Agreement. HREL continues to be non-cooperative despite
repeated requests for submission of information through phone calls
and e-mails dated May 9, 2021 and May 29, 2021, among others.  In
line with the extant SEBI guidelines, CARE has reviewed the rating
on the basis of the best available information.  

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

Hazaribagh-Ranchi Expressway Limited was incorporated on March 19,
2009, as a Special Purpose Vehicle promoted by ITNL; holding 99.99%
and Punj Lloyd Limited holding the balance. The company entered
into a Concession Agreement (CA) with National Highway Authority of
India - NHAI (rated 'CARE AAA; Stable') on October 8, 2009 for the
purpose of designing, constructing and maintaining the 4-laning of
the Hazaribagh - Ranchi section of NH-33 from 40.50 km to 114.00 km
in Jharkhand on a Build Operate Transfer (BOT) - Annuity basis. The
concession period is for 18 years commencing from the appointed
date, including construction period of 910 days. HREL achieved
provisional completion on September 15, 2012 and received first
annuity of INR64.08 crore (semi-annual) in July 2013. The project
was completed ahead of time and Commercial Operation Date (COD) was
achieved 134 days ahead of scheduled project completion which
entitled HREL to receive the early completion.


INCREDIBLE REALCON: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Incredible
Realcon Private Limited (IRPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Non Convertible      600.00     CARE D; ISSUER NOT COOPERATING;
   Debentures                      Based on best available
                                   Information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated Jun 12, 2020, continues to
place the ratings of IRPL under the 'Issuer Not Cooperating'
category as the company had failed to provide the requisite
information required for monitoring of the ratings as agreed to in
its rating agreement. Incredible Realcon Private Limited continues
to be noncooperative despite repeated requests for submission of
information through phone calls and a letter/email dated May 18,
2021. In line with the extant SEBI guidelines, CARE has reviewed
the rating on the basis of the best available Information which
however, in CARE'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 ratings.

The ratings on long term instruments of Incredible Realcon Private
Limited will be denoted as CARE D; Issuer not cooperating

Incredible Realcon Private Limited (IRPL) incorporated in 2013 is
part of Ireo Group (IREO) and is a SPV being promoted for business
of promotion, development and construction of real estate. However
presently there is no ongoing project in IRPL.

INDIA: 200 Insolvency Applications Filed Since March
----------------------------------------------------
The Economic Times reports that around 200 applications for
resolution of stressed assets have been filed under the insolvency
law since the suspension of fresh proceedings ended on March 24,
according to IBBI. Amid the coronavirus pandemic that had
significantly impacted economic activities, certain provisions
under the Insolvency and Bankruptcy Code (IBC) were suspended with
effect from March 25, 2020. The suspension was in place for one
year till March 24, 2021.

Talking about fresh insolvency filings after the expiry of the
suspension, IBBI Chairperson M S Sahoo said the higher threshold of
default of INR1 crore coupled with support and forbearances limit
the flow of applications, the report relays.

During the suspension period, fresh proceedings under the IBC were
not allowed.

"Since expiry of suspension on filing, about 200 applications have
been filed. This is on expected lines and has been the experience
internationally. The higher threshold of default of Rs 1 crore
coupled with support and forbearances limit the flow of
applications," Sahoo told ET.

The Insolvency and Bankruptcy Board of India (IBBI) is a key
institution in implementing the IBC.

"More importantly, the stakeholders like to use the Code when the
likelihood of resolution is high. Since the markets and the economy
are not in the best of their times, the stakeholders may be waiting
for the appropriate time to use the Code," the report quotes Sahoo
as saying.

In June 2020, an ordinance was promulgated to suspend fresh
insolvency proceedings and the same came into force retrospectively
from March 25, 2020 -- the day when the nationwide lockdown to curb
spreading of coronavirus infections had come into effect, ET
recalls.

Later, a bill to replace the ordinance that had amended the Code
was cleared by Parliament in September 2020.

Initially, the suspension of fresh proceedings was for six months
starting from March 25. The same was extended twice for three
months each -- one till December 24, 2020 and then till March 24,
2021.

The corporate affairs ministry had suspended Sections 7, 9 and 10
under the IBC to provide relief for companies hit by the pandemic.

Sections 7, 9 and 10 deal with initiation of corporate insolvency
resolution process by a financial creditor, operational creditor
and corporate debtor, respectively. Insolvency proceedings are
initiated once an application is admitted by the National Company
Law Tribunal (NCLT).


INLED TECHNOLOGIES: CARE Keeps B+ Debt Rating in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Inled
Technologies LLP (ITLLP) continues to remain in the 'Issuer Not
Cooperating' category.

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

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 5, 2020, placed the
rating(s) of ITLLP under the 'issuer noncooperating' category as
ITLLP had failed to provide information for monitoring of the
rating as agreed to in its Rating Agreement. ITLLP continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and emails dated Feb. 5,
2021 and May 11, 2021 among others. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.

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

Established in 2015, ITLP is a Limited Liability Partnership firm.
The firm is engaged in to manufacturing of LED Lighting equipment
and LED Bulbs and manufacturing of aluminum die casting such as
auto-engine body, street light body. Further, the name of "Inled
Lighting LLP" changed to "Inled Technologies LLP" in FY19.

INTERJEWEL DESIGNS: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Interjewel
Designs continues to remain in the 'Issuer Not Cooperating'
category.

                         Amount
   Facilities        (INR crore)    Ratings
   ----------        -----------    -------
   Bank Facilities-      36.50      CARE D; ISSUER NOT COOPERATING
   Fund Based–                      Rating continues to remain
   LT/ST-Packing                    under ISSUER NOT COOPERATING
   Credit in                        category
   Foreign Currency                                       
                              
Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated October 5, 2018, placed the
rating of Interjewel Designs under the 'issuer noncooperating'
category as the company had failed to provide information for
monitoring of the rating and had not paid the surveillance fees for
the rating exercise as agreed to in its Rating Agreement. The
company continues to be non-cooperative despite repeated requests
for submission of information through e-mails dated 24th May, 2021,
19th May, 2021, 13th May, 2021 and phone calls. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information.

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

M/s Interjewel Designs (ID) was established as a partnership firm
in September 2009 by Mr. Rupen Kothari and Mr. Shrenik Choksi and
is engaged in the business of manufacturing and export of studded
gold, silver and platinum jewellery. The firm is based within
SEEPZ, Mumbai, which is a Special Economic Zone (SEZ) and avails
tax benefit (10 years tax holiday with no tax in first five years
and 50% of prevailing tax rate from sixth year onwards).

JKS THE BANYAAN: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: JKS The Banyaan Private Limited
        No. 50, 4th Cross Street
        Anna Nagar, Pondicherry 605005
        India

Insolvency Commencement Date: April 23, 2021

Court: National Company Law Tribunal, Division Bench-I, Chennai

Estimated date of closure of
insolvency resolution process: October 19, 2021

Insolvency professional: Manivannan. J

Interim Resolution
Professional:            Manivannan. J
                         Plot No. 53B, 8/330
                         Vishalakshi Nagar
                         Fourth Cross Street
                         Santhosapuram
                         Chennai 600073
                         Tamil Nadu, India
                         E-mail: equitablelegal@gmail.com

                            - and -

                         31, New No. 2
                         Old No. 29, 2nd Floor
                         Nageswara Road
                         Nungambakkam
                         Chennai 600034

Last date for
submission of claims:    May 25, 2021


KD INFRAENGICON: CARE Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of KD
Infraengicon Private Limited (KDIPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        3.15      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Long Term/Short       4.00      CARE D; ISSUER NOT COOPERATING
   Term Bank                       Rating continues to remain
   Facilities                      under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 19, 2020, placed the
ratings of KDIPL under the 'issuer non-cooperating' category as
KDIPL had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. KDIPL continues to
be noncooperative despite repeated requests for submission of
information through e-mails, phone calls and letter/emails dated
Feb 2, 2021, Feb 22, 2021 among others.  In line with the extant
SEBI guidelines, CARE has reviewed the ratings on the basis of the
best available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.

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

Jharkhand based K.D. Infraengicon Private Limited (KDIPL) was
initially incorporated as MD. Quiyamuddin Khan Engineers Private
Limited on August 3, 2010. Subsequently the name of the company has
been changed to its current name (KDIPL) on May 15, 2017. Since its
inception, KDIPL has been engaged in civil construction business in
the segments like construction of road, bridges etc. The company
procures orders through tender and executes orders floated by the
various Govt. entities.


KRISHNAGANGA SPINNING: CARE Keeps C Ratings in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of
Krishnaganga Spinning Mills Private Limited (KGSM) continues to
remain in the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       18.00      CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

   Short Term Bank       3.35      CARE A4; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated June 19, 2020, placed the
rating(s) of KGSM under the 'issuer non-cooperating' category as
KGSM had failed to provide information for monitoring of the rating
as agreed to in its Rating Agreement. KGSM continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 5, 2021, May 15, 2021 & May 25, 2021.  In line with the extant
SEBI guidelines, CARE has reviewed the rating on the basis of the
best available information which however, in CARE'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).

Krishnaganga Spinning Mills Private Limited (KSMPL) was
incorporated on September 06, 1983 and was promoted by Mr. G
Punnaiah Choudary as a public limited company, 'Krishnaganga
Spinning Mills Limited' near Guntur, Andhra Pradesh. It was
converted into a private limited company on March 10, 2003. The
company is engaged into manufacturing of synthetic blended yarns
(installed capacity of 37,296 spindles).


MOD AGE: CARE Keeps D Debt Rating in Not Cooperating Category
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Mod Age
Consultants & Advisory Services Private Limited continues to remain
in the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long-term Non-       17.00      CARE D; ISSUER NOT COOPERATING;
   Convertible                     Based on best available
   Debentures (NCD)                Information

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated February 15, 2018, placed
the rating of Mod Age Consultants & Advisory Services Private
Limited under the 'issuer non-cooperating' category as the company
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. The company continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated May 24, 2021, May 18, 2021, May
16, 2021 and phone calls. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information.

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 on January 21, 2008, Mod Age Consultants and Advisory
Services Pvt. Ltd., erstwhile known as Mod Age Investment Private
Limited (name changed in December 2013), is a strategic investment
holding company of the promoters of Jyoti Structures Limited (JSL).
Mr K. R. Thakur and Mr P. K. Thakur, shareholders and directors in
JSL, each hold 50% shareholding in Mod Age.

As Mod Age Consultants and Advisory Services Pvt. Ltd. is only an
investment holding company, it does not have its own operational
cash flows. On October 30, 2013, the company issued NCDs of
INR25.00 crore for investment in shares and offering loans to group
companies. Of these, NCDs aggregating to INR17.00 crore was
subscribed. The company has placed 1.18 crore shares of JSL as
collateral against the NCD issue. The funds raised by the NCD
issued are utilised for investment into shares of Surya India
Fingrowth Private Limited, a group company.

NARAYAN COLD: CARE Lowers Rating on INR8.35cr LT Loan to B-
-----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Narayan Cold Storage Private Limited (NCSPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        8.35      CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Revised from CARE B; Stable

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 11, 2020, placed the
rating of NCSPL under the 'issuer non-cooperating' category as
NCSPL had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. NCSPL continues to
be noncooperative despite repeated requests for submission of
information through e-mails, phone calls and an email May 25, 2021,
May 28, 2021 among others.  In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE'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.

The revision in the rating takes into account the decline in total
operating income along with decline in profit levels during FY20
and deterioration in overall gearing ratio and debt coverage
indicators in FY20 audited.

Incorporated in October 1995, Narayan Cold Storage Private Limited
(NCSPL) is promoted by the Kundu family of West Bengal. The company
provides cold storage services for potatoes to farmers and traders
on a rental basis. The cold storage facility of the company is
located at Hooghly, West Bengal with a storage capacity of 29905
metric tons. The cold-storage unit is located at Hooghly, West
Bengal. Besides providing cold storage facility the unit also works
as a mediator between the farmers and marketers of potato, to
facilitate sale of potatoes stored and it also provides interest
bearing advances to farmers for farming purposes against potato
stored.


PAE LIMITED: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------
CARE Ratings said the rating for the bank facilities of PAE Limited
continues to remain in the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       15.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Long Term/Short       5.00      CARE D; ISSUER NOT COOPERATING
   Term Bank                       Rating continues to remain
   Facilities                      under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 11 2020, placed the
rating(s) of PAE Limited under the 'issuer non-cooperating'
category as PAE Limited had failed to provide information for
monitoring of the rating. PAE Limited continues to be
noncooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter dated May 11,
2021 & May 27, 2021.  In line with the extant SEBI guidelines, CARE
has reviewed the rating on the basis of the best available
information which however, in CARE'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 1950 as a distributor of auto electric components,
PAE Ltd is presently operational in two segments viz. Power
products and Auto components. In its power products segment, PAE is
engaged in marketing and distribution of lead storage batteries
(for automotive and industrial application) and power backup
systems; while in the Auto component segment it operates as a
distributor of automotive parts. Additionally, the company has
forayed into solar energy space through its various subsidiaries
which are engaged in developing, marketing and distribution of
solar panels and operates 2 solar power plants of 1 MW each. Over
the years PAE has developed pan-India presence.


PONDICHERRY EXTRACTION: Insolvency Resolution Process Case Summary
------------------------------------------------------------------
Debtor: Pondicherry Extraction Industries Private Limited
        J.K. Towers First Floor
        100 Feet Road
        Pondicherry 605013
        India

Insolvency Commencement Date: April 23, 2021

Court: National Company Law Tribunal, Division Bench-I, Chennai

Estimated date of closure of
insolvency resolution process: October 19, 2021

Insolvency professional: Manivannan. J

Interim Resolution
Professional:            Manivannan. J
                         Plot No. 53B, 8/330
                         Vishalakshi Nagar
                         Fourth Cross Street
                         Santhosapuram
                         Chennai 600073
                         Tamil Nadu, India
                         E-mail: equitablelegal@gmail.com

                            - and -

                         31, New No. 2
                         Old No. 29, 2nd Floor
                         Nageswara Road
                         Nungambakkam
                         Chennai 600034

Last date for
submission of claims:    May 25, 2021


RADHE COTTON: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Radhe
Cotton Company continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        5.58      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 25, 2020, placed the
rating of RADHE under the 'issuer non-cooperating' category as
RADHE had failed to provide information for monitoring of the
rating as agreed to in its Rating Agreement. RADHE continues to be
non-cooperative despite repeated requests for submission of
information through phone calls and emails dated April 10, 2021,
April 20, 2021 and April 30, 2021. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE'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 ratings.

Gokhalana, Jasdan (Rajkot) – based RADHE was incorporated as a
partnership firm in 2012 by six partners. The partners of RADHE
include mainly Mr Rameshbhai Khakhriya, Manubhai Khakhriya and
Dhirajbhai Jivabhai Khakhriya. The firm is engaged into the
activity of cotton ginning, bailing and cleaning of cotton. The
products of RADHE include cotton seeds, cottonseeds oil cake and
cotton wash oil.


SAHA INFRATECH: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Saha
Infratech Private Limited (SIPL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Non Convertible      160.00     CARE D; ISSUER NOT COOPERATING
   Debentures                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 29, 2019; placed the
rating of SIPL under the 'issuer non-cooperating' category as SIPL
had failed to provide information for monitoring of the rating.
SIPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated May 3, 2021; May
13, 2021 and May 23, 2021. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE'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).

Detailed description of the key rating drivers

At the time of last rating on June 17, 2020 the following were the
rating strengths and weaknesses:

Key Rating Weaknesses

* Ongoing Delays in Debt Servicing: The company has defaulted in
debt servicing of the interest payments due on December 30, 2018
due to tight liquidity position.

* Subdued industry scenario: The real estate sector has been
grappling with issues such as unsold inventory, delayed delivery
and financial stress on the developers for quite some years now and
post demonetisation; due to higher liquidity the buyers have
deferred their purchases as they are expecting the borrowing rates
to come down. However, with the introduction of Real Estate
(regulation and Development) Act (RERA) and GST (Goods and Services
Tax), the residential real estate sector is on the path of
transformation with modified rules and mandatory approvals which
will enhance the transparency and customers' trust in the sector
but also add additional burden on the developers which might hamper
the sentiments of the market.

Saha Infratech Private Limited (SIPL) was incorporated in 2011 and
is promoted by Mr. Anil Kumar Saha (Chairman & Managing Director)
who is a professional architect and holds a degree of Master of
Architecture. He has over 25 years of experience in real estate
development. Mr. Ashok Kumar Sirohi (Joint Managing Director) has
experience of over a decade in real estate sector and is
responsible for making strategic decisions for the company. SIPL is
engaged in real estate development and construction of residential
group housing projects and is currently working to deliver its two
maiden real estate projects; both of them are located in Noida
(Uttar-Pradesh).


SHIVSWATI ENTERPRISES: CARE Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shiv Swati
Enterprises Private Limited continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        5.85      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated May 29, 2020, placed the
rating(s) of Shivswati Enterprises Private Limited under the
'issuer non-cooperating' category as Shivswati Enterprises Private
Limited had failed to provide information for monitoring of the
rating. Shivswati Enterprises Private Limited continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 4, 2021, April 24, 2021, April 14, 2021, etc.  In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE'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 with the name Shiv Swati Enterprises Private Limited
on August 29, 1988 which was later merged on June 30, 2016 with
Pragati Industries (Proprietorship firm) as private Limited Company
and named as Shivswati Enterprises Private Limited (SEPL). The
company is currently being managed by Patodia family with Ms.
AastaPatodia and Mr. NayanPatodia as directors of the company. The
company is engaged in trading & manufacturing of Chandelier Lights
and Metal Components and the product find its application in
electrical and defence industry. The manufacturing facility of
the company is located at Greater Noida and Sahibabad and
registered office located at Delhi.

SOFTEL OVESEAS: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Softel
Overseas Pvt Ltd (SOPL) continues to remain in the 'Issuer Not
Cooperating' category.

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

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated December 13, 2018, placed
the rating of SOPL under the 'issuer non-cooperating' category as
SOPL had failed to provide information for monitoring of the rating
and had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. SOPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated February 24, 2021, March 16, 2021
among others.  In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE'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.

Detailed description of the key rating drivers

At the time of last rating on April 10, 2020, the following were
the rating strengths and weaknesses (updated for the information
available from Registrar of Companies):

Key Rating Weaknesses

* Delays in Debt servicing: The company has delayed in servicing
its debt obligations which were pending as on March 31, 2020.

* Small scale of operations: SOPL is a small player in the polymer
and metal trading industry. The total operating income declined by
89% y-o-y to INR12.55 crore in FY19. Moreover, the tangible net
worth of the company also remained low at INR 1.40 crore as on
March 31, 2019. In FY20, the company did not have any operations
and reported nil operating income and INR0.83 crore of total
income.

* Thin operating margin: Given the trading nature of its business
and intense competition in operating spectrum, SOPL operates on a
thin margin. In FY19, SOPL reported operating loss. PBILDT margin
deteriorated to -23.45% in FY19 (-0.67% in FY18). In FY20, the
company continued to report operating losses on account of nil
operations.

* Working capital intensive nature of operation: SOPL's operation
is working capital intensive nature as it needs to extend high
credit period to its customers in view of intense competition in
the market and maintain high inventories. The operating cycle
deteriorated to 439 days in FY19 (10 days in FY18) due to reduction
in scale of operations.

* Exposure to foreign currency fluctuation: SOPL's trading
operations involve imports of polymers, ferrous & non-ferrous
metals from international suppliers and selling the same in
domestic market. A considerable portion of SOPL's forex exposure
remains unhedged. In view of the same, the profit margins remain
susceptible to exchange rate fluctuations.

* Leveraged Capital structure and weak debt protection metrics: The
capital structure of the company is leveraged marked by its weak
overall gearing ratio (excluding acceptances) which stood at 3.82x
as on March 31, 2020 as against 4.77x as on March 31, 2019.

Key Rating Strengths

* Experienced promoters: SOPL is promoted by Mrs. Alka Didwania
(aged about 63 years) and Mrs. Anjali Berlia (aged about 61 years),
both having experience of more than a decade in polymer trading
business.

SOPL, incorporated in December 2004, is engaged in trading of
commodity polymers (plastic granules), engineering plastics and
ferrous & non-ferrous metals (zinc, lead & steel coil & sheets,
etc.). Its warehousing facility is located at Shalimar Road,
Howrah, West Bengal. SOCL mainly operates in the state of West
Bengal. The company imports 100% of its trading materials from
overseas markets. The day-to-day operations of SOPL are looked
after by Mr. Pratik Didwania (Director).


SPS EDUCATIONAL: CARE Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of SPS
Educational Trust continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       25.25      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated June 5, 2020, placed the
rating(s) of SPS under the 'issuer non-cooperating' category as SPS
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. SPS continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a email dated April
21, 2021, May 1, 2021, May 11, 2021.  In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE'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 ratings.

Palwal-based (Haryana), SPS Educational Trust (SPS) was established
in the year 2010 by Mr Sureshchandra Bharadwaj, Mrs. Sunita
Bhardwaj, Mr Shyam Sunder, Mr Brijesh Kumar and Mr Ram Kumar Gupta
with the object of setting up educational institutions. SPS is
running a school in the name of SPS International at Palwal
(Haryana) since, August, 2011. The school is affiliated to the
Central Board of Secondary Education (CBSE) and offers education
from Kindergarten to class XII. The school is spread across the
area of 5.25 acres and it has all the state of the art facilities
like computer labs, library, smart classes, various sports
facilities and swimming pool etc.


SR (MCB) ENGINEERS: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: SR (MCB) Engineers Private Limited
        201 B, D Building
        Ansa Industrial Estate
        Saki Vihar Road
        Andheri (East)
        Mumbai 400072

Insolvency Commencement Date: June 2, 2021

Court: National Company Law Tribunal, Mumbai Bench

Estimated date of closure of
insolvency resolution process: December 10, 2021

Insolvency professional: Kala Agarwal

Interim Resolution
Professional:            Kala Agarwal
                         801, Embassy Centre
                         Jamnalal Bajaj Road
                         Nariman Point
                         Mumbai 400021
                         E-mail: irpsrmcb@gmail.com
                                 agarwalkala@gmail.com

Last date for
submission of claims:    June 25, 2021


SREEKANTH PIPES: CARE Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sreekanth
Pipes Private Limited (SPPL) continues to remain in the 'Issuer Not
Cooperating' category.
                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        2.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank       8.00      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated June 15, 2020, placed the
rating(s) of SPPL under the 'issuer non-cooperating' category as
SPPL had failed to provide information for monitoring of the rating
as agreed to in its Rating Agreement. SPPL continues to be
non-cooperative despite repeated requests for submission of
information through emails, phone calls and a letter/email dated
May 01, 2021, May 11, 2021 & May 21, 2021.  In line with the extant
SEBI guidelines, CARE has reviewed the rating on the basis of the
best available information which however, in CARE'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).

Sreekanth Pipes Private Limited (SPPL), incorporated in 2002, is
part of Nandyal (Andhra Pradesh) based Nandi Group of companies.
Promoted by Mr. Sajjala Sreedhar Reddy, SPPL is engaged in the
business of manufacturing of rigid Polyvinyl Chloride (PVC) pipes
and fittings at its facility located at Medak District, Telangana.
The manufacturing facility has an installed capacity of 12,500
metric tonnes per annum (MTPA). The products are widely used in
irrigation, telecommunication, potable water supplies, electrical
industry, construction industry, sewerage, and drainage etc.


SUN CORPORATION: CARE Lowers Rating on INR12cr LT Loan to B
-----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of Sun
Corporation (SUN), as:

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

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated June 19, 2020, placed the
rating(s) of SUN under the 'issuer noncooperating' category as SUN
had failed to provide information for monitoring of the rating for
the rating exercise and had not paid fees for rating exercise as
agreed to in its Rating Agreement. SUN continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter/email dated
May 5, 2021, May 10, 2021, May 15, 2021. In line with the extant
SEBI guidelines, CARE has reviewed the rating on the basis of the
best available information which however, in CARE'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 rating assigned to the bank facilities of SUN has been revised
on account of non-availability of requisite information to carryout
rating exercise.

Established in February, 2016, Rajkot (Gujarat) based Sun
Corporation (SCO) is a partnership firm managed by four partners
viz Mr. Sanjay Babubhai Patel, Mr. Vikaskumar Babubhai Patel, Mr.
Praveenbhai Vithalbhai Bhutand MrDilip Ratilal Mendapara. The
promoters through their various entities viz. Sanjay Steel, Sun
enterprise and Aakash Oxygen Private Limited have more than two
decades of experience in retail and wholesale trading of Steel and
Cement products and managing a dealer network of over 400
retailers. Their first venture in electronics retail was in 2014
with Sun Digital which has established largest showroom for Samsung
brand in city of Rajkot. SCO is authorized distributor of Samsung
India Electronics Pvt Ltd (Samsung) and is engaged in the
distribution and sale of consumer electronics and home appliances
in Jamnagar, Bhavnagar, Botad and Rajkot regions of Gujarat. SCO is
also a zonal distributor of LYF Smartphone+ and JIO (a venture of
Reliance Industries) for Saurashtra and Kutch regions of Gujarat.
SCO has established a marketing network base with around 131
dealers and around 1980 retailers spread across these districts
with a sales team of 18 executives who deal with this network.

TUFF TUBES: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: Tuff Tubes (Orissa) Private Limited
        Bagheiput, P.O./P.S. Jankia
        Khordha, Odisha 752020

Insolvency Commencement Date: June 10, 2021

Court: National Company Law Tribunal, Cuttack Bench

Estimated date of closure of
insolvency resolution process: December 6, 2021

Insolvency professional: Giridhari Lal Sharma

Interim Resolution
Professional:            Giridhari Lal Sharma
                         A/1, P.C. Plaza
                         Bomikhal, Bhubaneswar
                         Odisha 751006
                         E-mail: sharma_gl@yahoo.com
                                 cirp.tufftube@gmail.com

Last date for
submission of claims:    June 24, 2021


VISWABHARATHI EDUCATIONAL: CARE Keeps D Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of
Viswabharathi Educational Society (VES) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      166.5       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Detailed Rationale & Key Rating Drivers

CARE had, vide its press release dated March 16, 2020 placed the
rating of VES under the 'issuer non-cooperating' category as VES
had failed to provide information for monitoring of the rating and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. VES continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter dated March
1, 2021 and May 27, 2021 among others.  In line with the extant
SEBI guidelines, CARE has reviewed the rating on the basis of the
best available information which however, in CARE'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).

The rating takes into account ongoing delays in debt servicing by
Viswabharathi Educational Society as confirmed by the lender

Established in 1997, Viswabharathi Educational Society (VES) is
promoted by Dr D Kantha Reddy and family. Various institutions
under the promoter include Viswabharathi Medical College & Teaching
Hospital, Viswabharathi Super Specialty Hospital, Viswabharathi
Cancer Hospital, Viswabharathi College of Nursing, and
Viswabharathi School of Nursing.


WIZCRAFT INTERNATIONAL: Insolvency Resolution Process Case Summary
------------------------------------------------------------------
Debtor: Wizcraft International Entertainment Private Limited
        Satyadev Plaza, 5th Floor
        Fun Republic Lane Off
        New Link Road, Andheri (W)
        Mumbai 400053
        India

Insolvency Commencement Date: May 10, 2021

Court: National Company Law Tribunal, New Delhi Bench

Estimated date of closure of
insolvency resolution process: December 3, 2021

Insolvency professional: Parveen Bansal

Interim Resolution
Professional:            Parveen Bansal
                         J-347, Block J
                         Sarita Vihar
                         New Delhi 110076
                         E-mail: pkbansal00@gmail.com

                            - and -

                         E-44/3, Pocket D
                         Okhla Industrial Area
                         Phase II
                         New Delhi 110020
                         E-mail: wizcraft.international@
                                 pbinsolvency.com

Last date for
submission of claims:    June 25, 2021




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

OCCIDENTAL MINDORO RURAL: July 30 Claims Filing Deadline Set
------------------------------------------------------------
All creditors of the closed Occidental Mindoro Rural Bank, Inc.
have until July 30, 2021 to file their claims against the assets of
the closed bank either by email, mail, or personally. Creditors
refer to any individual or entity with a valid claim against the
assets of the closed Occidental Mindoro Rural Bank, Inc. and
include depositors whose deposits exceed the maximum deposit
insurance coverage (MDIC) of PHP500,000.

The Philippine Deposit Insurance Corporation (PDIC) said that
various ways to file claims are available to creditors and
depositors with uninsured deposits. Claims may be filed:

1. Online through email at occminrb-pad@pdic.gov.ph;

2. Through mail addressed to the PDIC Public Assistance Department,
3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino St.,
Makati City 1226. Claims filed by mail must have a postmark dated
not later than July 30, 2021; or

3. Personal filing on appointment basis at the PDIC Public
Assistance Center located at the 3rd Floor, SSS Bldg., 6782 Ayala
Avenue corner V.A. Rufino St., Makati City, Monday to Friday, 8:00
AM to 5:00 PM.

To make an appointment, clients may call the Public Assistance
Hotline at (02) 8841-4141 or at Toll Free number 1-800-1-888-7342
or 1-800-1-888-PDIC, send an email to occminrb-pad@pdic.gov.ph, or
send a private message at PDIC's official Facebook page,
www.facebook.com/OfficialPDIC.

The prescribed Claim Form against the assets of the closed bank may
be downloaded from the PDIC website,
http://www.pdic.gov.ph/files/Claim_Form_Against_Assets_of_Closed_Banks.pdf.
PDIC reminds creditors to transact only with authorized PDIC
personnel.

Claims filed after July 30, 2021 shall be disallowed. PDIC, as
Receiver, shall notify creditors of denial of claims through mail.
Claims denied or disallowed by the PDIC may be filed with the
liquidation court within sixty (60) days from receipt of final
notice of denial of claim.

In addition, PDIC said that depositors with account balances of
more than the maximum deposit insurance coverage (MDIC) of
PHP500,000 who have already filed claims for the insured portion of
their deposits as of July 30, 2021 are deemed to have filed their
claims for the uninsured portion or the amount in excess of the
MDIC.

PDIC, as Receiver of closed banks, requires personal data from
creditors to be able to process their claims and protects these
data in compliance with the Data Privacy Act of 2012.

Occidental Mindoro Rural Bank, Inc. was ordered closed by the
Monetary Board (MB) of the Bangko Sentral ng Pilipinas on March 25,
2021 and PDIC, as the designated Receiver, was directed by the MB
to proceed with the takeover and liquidation of the closed bank in
accordance with Section 12(a) of Republic Act No. 3591, as amended.
The bank is located at OMRI Bldg., Quezon St., Brgy. Bagong Sikat
(Pob), Lubang, Occidental Mindoro.

All requests and inquiries relating to Occidental Mindoro Rural
Bank, Inc. shall be addressed to the PDIC Public Assistance
Department through email at occminrb-pad@pdic.gov.ph, or through
telephone number (02) 8841-4141. Depositors and creditors outside
Metro Manila may call the PDIC Toll Free Hotline during office
hours at 1-800-1-888-PDIC (7342). Inquiries may also be sent as
private message at Facebook through www.facebook.com/OfficialPDIC.


PALM TREE BANK: Claims Filing Deadline Set for July 26
------------------------------------------------------
All creditors of the closed Palm Tree Bank, Inc. (A Rural Bank)
have until July 26, 2021 to file their claims against the assets of
the closed bank either by email, mail, or personally. Creditors
refer to any individual or entity with a valid claim against the
assets of the closed Palm Tree Bank, Inc. (A Rural Bank) and
include depositors whose deposits exceed the maximum deposit
insurance coverage (MDIC) of PHP500,000.

The Philippine Deposit Insurance Corporation (PDIC) said that
various ways to file claims are available to creditors and
depositors with uninsured deposits. Claims may be filed:

1. Online through email at palmtree-pad@pdic.gov.ph;

2. Through mail addressed to the PDIC Public Assistance Department,
3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino St.,
Makati City 1226. Claims filed by mail must have a postmark dated
not later than July 26, 2021; or

3. Personal filing on appointment basis at the PDIC Public
Assistance Center located at the 3rd Floor, SSS Bldg., 6782 Ayala
Avenue corner V.A. Rufino St., Makati City, Monday to Friday, 8:00
AM to 5:00 PM.

To make an appointment, clients may call the Public Assistance
Hotline at (02) 8841-4141 or at Toll Free number 1-800-1-888-7342
or 1-800-1-888-PDIC, send an email to palmtree-pad@pdic.gov.ph, or
send a private message at PDIC's official Facebook page,
www.facebook.com/OfficialPDIC.

The prescribed Claim Form against the assets of the closed bank may
be downloaded from the PDIC website,
http://www.pdic.gov.ph/files/Claim_Form_Against_Assets_of_Closed_Banks.pdf.
PDIC reminds creditors to transact only with authorized PDIC
personnel.

Claims filed after July 26, 2021 shall be disallowed. PDIC, as
Receiver, shall notify creditors of denial of claims through mail.
Claims denied or disallowed by the PDIC may be filed with the
liquidation court within sixty (60) days from receipt of final
notice of denial of claim.

In addition, PDIC said that depositors with account balances of
more than the maximum deposit insurance coverage (MDIC) of
PHP500,000 who have already filed claims for the insured portion of
their deposits as of July 26, 2021 are deemed to have filed their
claims for the uninsured portion or the amount in excess of the
MDIC.

PDIC, as Receiver of closed banks, requires personal data from
creditors to be able to process their claims and protects these
data in compliance with the Data Privacy Act of 2012.

Palm Tree Bank, Inc. (A Rural Bank) was ordered closed by the
Monetary Board (MB) of the Bangko Sentral ng Pilipinas on April 22,
2021 and PDIC, as the designated Receiver, was directed by the MB
to proceed with the takeover and liquidation of the closed bank in
accordance with Section 12(a) of Republic Act No. 3591, as amended.
It is a two-unit rural bank with Head Office located at Door #5
Global Agro Bldg., Kolambog, Brgy. Lapasan, Cagayan de Oro City
(Capital), Misamis Oriental. Its lone branch, Cotabato City Branch,
is located at EC Tanghal Bldg., No. 5 Don Roman Vilo St., Brgy.
Poblacion VI, Cotabato City.

All requests and inquiries relating to Palm Tree Bank, Inc. (A
Rural Bank) shall be addressed to the PDIC Public Assistance
Department through email at palmtree-pad@pdic.gov.ph, or through
telephone number (02) 8841-4141.

Depositors and creditors outside Metro Manila may call the PDIC
Toll Free Hotline during office hours at 1-800-1-888-PDIC (7342).
Inquiries may also be sent as private message at Facebook through
www.facebook.com/OfficialPDIC.




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S I N G A P O R E
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EAGLE HOSPITALITY: Gets US$153.9MM in Net Proceeds from Asset Sale
------------------------------------------------------------------
Vivienne Tay at The Business Times reports that Eagle Hospitality
Real Estate Investment Trust (EH-Reit), which is part of Eagle
Hospitality Trust (EHT), has received net proceeds of about
US$153.9 million following the sale of five Chapter 11 properties.

The net proceeds have been partially used to repay the
debtor-in-possession facility and the stalking horse "break up"
fee, EH-Reit trustee DBS Trustee said in a bourse filing on June
17, BT relays.

According to BT, the balance remaining is around US$109.7 million,
which will go to repaying ongoing post-petition expenses and
pre-petition creditors. This includes some US$380 million under a
pre-petition facilities agreement, as well as claims from trade
creditors against these entities which DBS Trustee said cannot be
quantified at this time.

"To the extent any value remains, other junior creditors would be
paid," it added.

BT relates that the sale of four Chapter 11 properties for US$117.2
million was completed on June 3. These assets were Sheraton Denver
Tech Center, Four Points by Sheraton San Jose Airport, Embassy
Suites by Hilton Anaheim North, and Double Tree by Hilton Salt Lake
City. Hilton Atlanta Northeast was later sold for US$37.9 million
on June 8.

DBS Trustee expects the remaining Chapter 11 properties to be sold
by the end of June. Hilton Houston Galleria Area and Delta
Woodbridge remain under receivership.

Urban Commons Queensway, a unit of EHT, on June 4 surrendered the
Queen Mary Long Beach - a former ocean vessel-turned-floating hotel
- to the City of Long Beach, California, the report notes.

                   About Eagle Hospitality Group

Eagle Hospitality Trust -- https://eagleht.com/ -- is a hospitality
stapled group comprising Eagle Hospitality Real Estate Investment
Trust ("Eagle H-REIT") and Eagle Hospitality Business Trust. Based
in Singapore, Eagle H-REIT is established with the principal
investment strategy of investing on a long-term basis, in a
diversified portfolio of income-producing real estate which is used
primarily for hospitality and/or hospitality-related purposes, as
well as real estate-related assets in connection with the
foregoing, with an initial focus on the United States.

EHT US1, Inc., and 26 affiliates, including 15 LLC entities that
each owns hotels in the U.S., sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 21-10036) on Jan. 18, 2021.  EHT US1, Inc.,
estimated $500 million to $1 billion in assets and liabilities as
of the bankruptcy filing.

The Debtors tapped PAUL HASTINGS LLP as bankruptcy counsel; FTI
CONSULTING, INC., as restructuring advisor; and MOELIS & COMPANY
LLC, as investment banker.  COLE SCHOTZ P.C. is the Delaware
counsel.  RAJAH & TANN SINGAPORE LLP is Singapore Law counsel, and
WALKERS is Cayman Law counsel.  DONLIN, RECANO & COMPANY, INC., is
the claims agent.


                           *********


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 2021.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed
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