/raid1/www/Hosts/bankrupt/TCRAP_Public/220321.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
Monday, March 21, 2022, Vol. 25, No. 51
Headlines
A U S T R A L I A
DTLI TRADING: First Creditors' Meeting Set for March 30
EVOLUTION TRAFFIC: First Creditors' Meeting Set for March 29
NORRIS CONSTRUCTION: Enters Administration; 140 Jobs Axed
OPTIMA AUSTRALIA: First Creditors' Meeting Set for March 30
RBSF PROJECTCO: First Creditors' Meeting Set for March 25
TODDLER KINDY: Second Creditors' Meeting Set for March 25
C H I N A
CHINA: High-Yield Developers' Default Rate Understates Stresses
SUNAC CHINA: S&P Lowers ICR to 'B-' on Weak Liquidity
H O N G K O N G
EVOLUTION WELLNESS: Fitness First Starts Liquidation Process
I N D I A
A. K. DAS: ICRA Keeps B+ Debt Rating in Not Cooperating Category
ABHINAV INDUSTRIES: ICRA Keeps B Debt Ratings in Not Cooperating
AKR IMPEX: ICRA Keeps B Debt Ratings in Not Cooperating Category
BLUECREST TECHNOLOGY: Voluntary Liquidation Process Case Summary
CAV COTTON MILLS: Liquidation Process Case Summary
CHEMIZOL ADDITIVES: Insolvency Resolution Process Case Summary
CHINTAMANI GEMS: ICRA Keeps D Debt Rating in Not Cooperating
DONGAH GEOLOGICAL: Voluntary Liquidation Process Case Summary
ELITE SHELTERS: ICRA Keeps B+ Debt Ratings in Not Cooperating
EMART SOLUTIONS: Voluntary Liquidation Process Case Summary
FLEXI CAPS: ICRA Keeps B+ Debt Ratings in Not Cooperating
GANESH CARS: ICRA Keeps B+ Debt Rating in Not Cooperating
GOODWILL FABRICS: ICRA Keeps B+ Debt Rating in Not Cooperating
GSR MOVIES: ICRA Keeps B+ Debt Rating in Not Cooperating Category
GUJARAT STATE: Liquidation Process Case Summary
H.K. AGRO: ICRA Keeps D Debt Ratings in Not Cooperating Category
IRE-TEX PREMIER: ICRA Keeps B Debt Ratings in Not Cooperating
K.K. LEISURES: ICRA Keeps B- Debt Ratings in Not Cooperating
MARUTI NOUVEAUKNITS: ICRA Keeps D Debt Ratings in Not Cooperating
MCNALLY SAYAJI: Leading Engineering Firms Submit EOIs
NESA INDIA: Liquidation Process Case Summary
NIRWANA HOTELS: ICRA Keeps D Debt Ratings in Not Cooperating
OM BAKERIES PRIVATE: Voluntary Liquidation Process Case Summary
P N RAO: ICRA Keeps B+ Debt Ratings in Not Cooperating Category
PRAMUK INFRACON: ICRA Keeps B+ Debt Ratings in Not Cooperating
PRAVIN ELECTRICALS: ICRA Keeps B+ Debt Ratings in Not Cooperating
SHIVAM HI TECH: ICRA Keeps B+ Debt Ratings in Not Cooperating
SIYARAM METAL: ICRA Keeps B- Debt Rating in Not Cooperating
TURQUOISE & GOLD: ICRA Keeps D Debt Ratings in Not Cooperating
VARANKIT EXPORTS: Voluntary Liquidation Process Case Summary
ZENICA CARS: ICRA Keeps D Debt Rating in Not Cooperating Category
J A P A N
[*] JAPAN: 30 Ski Resorts Shut or Suspend Operations Due to COVID
N E W Z E A L A N D
BLUESTONE NZ 2022-1: S&P Assigns Prelim. B Rating on F Notes
CITY GRIND: Creditors' Proofs of Debt Due on May 11
DARGAVILLE VETERINARY: Creditors' Proofs of Debt Due on April 18
EDMONDS SHEARING: Court to Hear Wind-Up Petition on March 24
JKF LIMITED: Creditors' Proofs of Debt Due on April 29
ORAKA TECHNOLOGIES: Court to Hear Wind-Up Petition on April 4
S I N G A P O R E
AGV GROUP: Court to Hear Judicial Management Application on May 4
DANISH BREWERIES: Creditors' Meetings Set for April 12
KPI SINGAPORE: Court to Hear Wind-Up Petition on April 1
PVS INT'L: Court to Hear Wind-Up Petition on March 25
UNCLE LEONG: Court to Hear Wind-Up Petition on April 8
YAMAKO PACIFIC: Court to Hear Wind-Up Petition on April 1
- - - - -
=================
A U S T R A L I A
=================
DTLI TRADING: First Creditors' Meeting Set for March 30
-------------------------------------------------------
A first meeting of the creditors in the proceedings of DTLI Trading
Pty Ltd will be held on March 30, 2022, at 10:00 a.m. at the
offices of Morgan Conoly, L6, 239 George Street, in Brisbane,
Queensland.
Daniel Moore of BCR Advisory was appointed as administrator of DTLI
Trading on March 18, 2022.
EVOLUTION TRAFFIC: First Creditors' Meeting Set for March 29
------------------------------------------------------------
A first meeting of the creditors in the proceedings of Evolution
Traffic Management Pty Ltd will be held on March 29, 2022, at 1:00
p.m. via online facility only.
Joanne Emily Dunn, John Richard Park and Kelly-Anne Lavina
Trenfield of FTI Consulting were appointed as administrators of
Evolution Traffic on March 17, 2022.
NORRIS CONSTRUCTION: Enters Administration; 140 Jobs Axed
---------------------------------------------------------
Bay 93.9 reports that Norris Construction, a Geelong construction
group with nearly 60 years of history in the region, has entered
administration.
According to the report, financial services company KordaMentha
lists eight companies on their website falling under the umbrella
of "Norris Construction Group of Companies", including Norris
Construction Group Pty. Ltd., Geelong Commercial Waste Pty. Ltd.,
Gravel Pits Plumbing Pty. Ltd., and Norris Investments (VIC) Pty.
Ltd.
There are fears the 140 employees won't receive entitlements and
benefits accrued, nor wages owed, the report relates.
KordaMentha has listed Craig Shepard and Andrew Knight as
Appointees.
OPTIMA AUSTRALIA: First Creditors' Meeting Set for March 30
-----------------------------------------------------------
A first meeting of the creditors in the proceedings of Optima
Australia Solutions Pty Ltd will be held on March 30, 2022, at
11:00 a.m. at the offices of Morgan Conoly, L6, 239 George Street,
in Brisbane, Queensland.
Daniel Moore of BCR Advisory was appointed as administrator of
Optima Australia on March 18, 2022.
RBSF PROJECTCO: First Creditors' Meeting Set for March 25
---------------------------------------------------------
A first meeting of the creditors in the proceedings of RBSF
ProjectCo Pty Ltd will be held on March 25, 2022, at 11:00 a.m. via
virtual meeting.
Quentin James Olde & Liam John Healey of Ankura Consulting were
appointed as administrators of RBSF ProjectCo on March 15, 2022.
TODDLER KINDY: Second Creditors' Meeting Set for March 25
---------------------------------------------------------
A second meeting of creditors in the proceedings of Toddler Kindy
Gymbaroo Pty Ltd has been set for March 25, 2022, at 10:00 a.m. via
Zoom.
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 March 24, 2022, at 4:30 p.m.
Gideon Isaac Rathner and Matthew Sweeny of Lowe Lippmann were
appointed as administrators of Toddler Kindy on Nov. 22, 2021.
=========
C H I N A
=========
CHINA: High-Yield Developers' Default Rate Understates Stresses
---------------------------------------------------------------
Reuters reports that Chinese high-yield property issuers have by
one measure defaulted on nearly a quarter of their outstanding
bonds this year, Goldman Sachs analysts estimated, highlighting
liquidity stress as Beijing looks to stabilise the battered
sector.
Estimating the year-to-date default rate at 5.5%, Kenneth Ho and
Chakki Ting said in a note on March 18 that this headline figure
understated stress in a sector where developers have entered into
bond exchanges to avoid triggering defaults, Reuters relates.
"If we assume all the bonds from issuers that have entered into
bond exchange or maturity extension transactions as being in
default, the (year-to-date) default rate would rise to 23.4%," they
said.
According to Reuters, Ho and Ting said they maintained a default
forecast for the sector of 19% for 2022, with a bull case of 10.5%
and a downside case of 31.6%.
"Whilst credit stresses have picked up, China policymakers have
also reiterated their accommodative policy stance," they said,
adding that "risks are clearly tilted towards the downside case."
Of bonds in the sector that have passed their final maturity dates
so far this year, 31% have entered into bond exchange or maturity
extension transactions, 26% have defaulted and 42% were fully
repaid, Reuters relays.
More bond exchanges and defaults are likely, with $2.3 billion
maturing in April, and more than $3 billion each in June, July and
August, they said.
Vice Premier Liu He, China's economic tsar, said on March 16 that
the government needs to reduce risks in the property industry, and
proposed measures to facilitate a new development model for the
sector.
SUNAC CHINA: S&P Lowers ICR to 'B-' on Weak Liquidity
-----------------------------------------------------
S&P Global Ratings, on March 17, 2022, lowered its long-term issuer
credit rating on Sunac China Holdings Ltd. to 'B-' from 'BB-'. It
also lowered the long-term issue rating on the company's
outstanding senior unsecured notes to 'CCC+' from 'B+'. At the same
time, S&P placed all the ratings on CreditWatch with negative
implications.
S&P expects to resolve the CreditWatch status as soon as
practicable when we have greater visibility on Sunac's refinancing
plans.
Sunac faces mounting refinancing risk amid weakening liquidity. S&P
assesses Sunac's liquidity to be weak. Sunac is potentially facing
debt acceleration that might be exercised by its offshore
on-balance-sheet private placement notes (PPNs) holders. Most of
the PPNs are maturing within the coming 12 months.
This adds a further burden to the already high bond maturity wall
and compounds Sunac's liquidity pressure. This is despite S&P's
belief that Sunac should have a fair chance of persuading some of
the PPN holders not to ask for acceleration. As of the end of
March, Sunac is facing about Chinese renminbi (RMB) 24 billion of
offshore and onshore public bond maturities in the next 12 months,
including two US$600 million senior notes maturating in June and
August, respectively.
S&P said, "We believe Sunac's accessible cash has diminished
following debt repayment, and due to continued cash restrictions at
project escrow accounts. We estimate accessible cash at the holding
company level has plunged to a low level from RMB13 billion-RMB14
billion at end of 2021; most funds at project escrow accounts are
under regulatory restrictions. During the first quarter, Sunac had
to repay about RMB13 billion of onshore notes and nonbank debt, by
our estimate."
There's a rising risk of restructuring on Sunac's onshore debt.
Given Sunac's low accessible cash and weakening contracted sales,
S&P believes there's a reasonable chance it would need to negotiate
with creditors to discuss repayment terms and potential maturity
extensions, even just as one of the options, for its onshore notes.
The company's RMB10.5 billion onshore public bonds are maturing in
the next six months, including RMB4 billion notes puttable in
April.
Sunac's ability to sustain its relationship with onshore banks will
remain critical to its operations. S&P estimates Sunac's bank loans
have only modestly declined to RMB105 billion-RMB110 billion as of
end of February, from RMB115 billion-RMB120 billion at the
beginning of 2021, despite the company's weakening access to
financing from other channels. Bank debt typically represents about
40% of Sunac's total debt. This should help the company sustain the
progress of its development projects, both on-balance-sheet and
off-balance-sheet, and therefore contracted sales.
Sunac's asset disposals plan is slower than we previously
anticipated. Credit incidents over the past three months have
hindered the ongoing asset disposal plan. S&P believes it is facing
more difficulties than we previously anticipated. The company has
managed to execute sales of some projects during the first quarter;
however, the net proceeds of about RMB5 billion had been used for
debt repayment.
Further large-scale disposals in a timely manner to generate
sufficient liquidity boost are becoming increasingly difficult for
Sunac, in S&P's view. Apart from this, S&P believes the shrinking
balance sheet--together with a halt on land acquisitions--will
lower Sunac's saleable resources, resulting in a weakening business
profile.
CreditWatch
S&P said, "We aim to resolve the CreditWatch as quickly as
practically possible when we have further visibility on Sunac's
plans to manage its upcoming maturity amid the liquidity crunch. We
could lower the rating by one or multiple notches should the
company be unable to form an actionable refinancing plan while
nonpayment risk escalates."
=================
H O N G K O N G
=================
EVOLUTION WELLNESS: Fitness First Starts Liquidation Process
------------------------------------------------------------
The Standard reports that Fitness First has ceased all operations
starting March 16 and begun a liquidation process.
An international brand based in the United Kingdom, Fitness First
operates in Hong Kong under a franchise, the report says. The local
operations boasted at least 100 workers, including about 60 coaches
and over 10,000 members.
Bruno Arboit and Li Kin Long, Kenny of D&P China (HK) Ltd were
appointed the liquidators of Evolution Wellness (HK) Ltd, which
operated the eight branches of Fitness First throughout Hong Kong,
The Standard discloses.
"The liquidators are now responsible for overseeing the affairs of
Evolution Wellness pending the convening of a meeting of creditors
scheduled for March 28," according to an official statement, the
report relays.
The gym chain cited the mandatory closure of gyms in Hong Kong as
the main cause of its closure: "The prolonged challenges in not
being able to operate our fitness centers have led us down this
path."
It added the management team, parent company and shareholders have
explored and exhausted all avenues in the pursuit of maintaining
business operations.
"Regrettably, we have not been successful," it continued.
According to the report, Fitness First said it is proud to be a
trusted brand in Hong Kong for over 20 years and thanked the
support of staff and the public. They apologized to stakeholders
that may be affected by the news as well.
"If you are a Fitness First Cardholder with a current subscription
to a valid service plan as at March 16, please check your email for
further details about your service plan," it told its members.
=========
I N D I A
=========
A. K. DAS: ICRA Keeps B+ Debt Rating in Not Cooperating Category
----------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of A. K. Das
Associates Limited in the 'Issuer Not Cooperating' category. The
rating is denoted as "[ICRA]B+ (Stable)/[ICRA]A4; ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 25.00 [ICRA]B+ (Stable) ISSUER NOT
Cash Credit COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Non-Fund based– 10.00 [ICRA]A4; ISSUER NOT
Letter of Credit COOPERATING; Rating continues
To remain under 'Issuer Not
Cooperating' category
Non-Fund based– 42.00 [ICRA]A4; ISSUER NOT
Bank Guarantee COOPERATING; Rating continues
To remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
AKDAL was initially incorporated in 1996 as a private limited
company in the name of A K Das Associates Pvt Ltd and was
reconstituted as a public limited company in 1999. The company is
involved in construction of power transmission lines and
sub-stations and undertakes related electrical and civil work,
primarily in Odisha. The company is also in the process of setting
up a four-star category hotel in Bhubaneshwar, Odisha.
ABHINAV INDUSTRIES: ICRA Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Abhinav
Industries in the 'Issuer Not Cooperating' category. The rating is
denoted as [ICRA]B(Stable)/[ICRA]A4; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 0.50 [ICRA]B (Stable) ISSUER NOT
Cash Credit COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Fund based- 0.70 [ICRA]B(Stable);ISSUER NOT
Fund Based TL COOPERATING; Rating continue
to remain in 'Issuer Not
Cooperating' category
Short Term- 6.60 [ICRA]A4 ISSUER NOT
Non Fund Based COOPERATING; Rating continues
To remain under 'Issuer Not
Cooperating' category
Long Term/ 0.30 [ICRA]B(Stable)/[ICRA]A4;
Short Term- ISSUER NOT COOPERATING;
Unallocated Rating continue to remain in
'Issuer Not Cooperating'
Category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Abhinav Industries (AI) incorporated in 2005, is engaged in custom
milling of paddy for Chattisgarh government agency from its
manufacturing facility at Balodabazar in the district of Bhatapara,
Chhattisgarh. The current installed capacity of the plant for
milling rice is 45,000 metric tonne per annum (MTPA) of paddy. In
addition to its own manufacturing, the firm is also engaged in
labor contract work. The firm is promoted by Mr. Ashwini Kumar
Sharma.
AKR IMPEX: ICRA Keeps B Debt Ratings in Not Cooperating Category
----------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of AKR Impex
Private Limited. in the 'Issuer Not Cooperating' category. The
rating is denoted as [ICRA]B(Stable)/[ICRA]A4; ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Cash Credit 5.45 [ICRA]B (Stable) ISSUER NOT
COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Letter of Credit (4.00) [ICRA]A4 ISSUER NOT
(sub limit) COOPERATING; Rating continue
To remain in 'Issuer Not
Cooperating' category
Packing Credit (5.00) [ICRA]A4 ISSUER NOT
(sub limit) COOPERATING; Rating continue
To remain in 'Issuer Not
Cooperating' category
Bill discounting (5.00) [ICRA]A4 ISSUER NOT
(sub limit) COOPERATING; Rating continue
To remain in 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
AKR Impex Private Limited was incorporated in 2006 by Mr.
S.Kathiravan. The company is involved in the business of processing
and trading of various types of pulses and has two processing units
set up in Tondiarpet, Chennai. The company processes black gram,
green gram, toor dhal, yellow lentils etc. The process involves
dehusking the pulses, splitting and polishing.
BLUECREST TECHNOLOGY: Voluntary Liquidation Process Case Summary
----------------------------------------------------------------
Debtor: Bluecrest Technology Private Limited
NPV House, D Wing
Chanakya CHS Limited
Link Road, Kandivali (W)
Mumbai 400067
Maharashtra
Liquidation Commencement Date: February 28, 2022
Court: National Company Law Tribunal, New Delhi Bench
Insolvency professional: Nilesh Sharma
Interim Resolution
Professional: Nilesh Sharma
C-10, Lower Ground Floor
Lajpat Nagar-III
New Delhi 110024
E-mail: nilesh.sharma@rrrinsolvency.com
bluecrest.vol.liquidation@
gmail.com
Tel: +91 9811418701
011-42440071-74
Last date for
submission of claims: March 30, 2022
CAV COTTON MILLS: Liquidation Process Case Summary
--------------------------------------------------
Debtor: M/s. C A V Cotton Mills Private Limited
Registered office:
551, Ganeshapuram
S S Kulam Via
Coimbatore 641107
Spinning Division:
No. 16, Vivekanandha Nagar
Dindigul 1
Liquidation Commencement Date: March 11, 2022
Court: National Company Law Tribunal, Chennai Bench
Date of closure of
insolvency resolution process: March 11, 2022
Insolvency professional: N. Sivachalam
Interim Resolution
Professional: N. Sivachalam
12, Govindarajulu Street
Avinashi Road
Tirupur 641602
E-mail: sivachalamip@gmail.com
sivachalamca@gmail.com
Last date for
submission of claims: April 10, 2022
CHEMIZOL ADDITIVES: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: Chemizol Additives Private Limited
Plot No. 19, E&F Bidadi Industrial Area
2nd Phase, Sector 1
Talakuppe Village, Bidadi
Hobli, Ramanagara Dist.
Bangalore, Rural
Karnataka 562109
Insolvency Commencement Date: February 23, 2022
Court: National Company Law Tribunal, Bengaluru Bench
Estimated date of closure of
insolvency resolution process: August 22, 2022
Insolvency professional: Hari Babu Thota
Interim Resolution
Professional: Hari Babu Thota
#41/1, 2nd Floor
A Wing, 11th Cross
8th Main, 2nd Block
Jayanagar, Bangalore
Karnataka 560011
E-mail: csharibabuthota@gmail.com
chemizolip@gmail.com
Last date for
submission of claims: March 24, 2022
CHINTAMANI GEMS: ICRA Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------
ICRA has retained the Long-term ratings of Chintamani Gems &
Jewellery Private Limited in the 'Issuer Not Cooperating' category.
The ratings are denoted as [ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund Based- 20.00 [ICRA]D; ISSUER NOT COOPERATING;
Limits Rating Continues to remain under
'Issuer Not Cooperating'
Category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Chintamani Gems & Jewellery Private Limited (CG&JPL) was set up in
2012. Currently, it is engaged in trading of gold jewellery in the
domestic market. Although the company has established a jewellery
manufacturing unit in Surat SEZ, it outsources the manufacturing
work to mostly job workers based in Mumbai due to non-availability
of tax benefits in the SEZ.
DONGAH GEOLOGICAL: Voluntary Liquidation Process Case Summary
-------------------------------------------------------------
Debtor: Dongah Geological Engineering India Private Limited
Flat No. 3, Upper Ground Floor
Parvesh Residency, Rajendra Park
Gurgaon HR 122002
IN
Liquidation Commencement Date: January 31, 2022
Court: National Company Law Tribunal, Jaipur Bench
Insolvency professional: Vikram Singh Rathore
Interim Resolution
Professional: Vikram Singh Rathore
B-138 Vinoba Bhave Nagar
Amrapali Marg, Vaishali
Jaipur 302021
Mobile: 8696934073
Last date for
submission of claims: March 2, 2022
ELITE SHELTERS: ICRA Keeps B+ Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Elite
Shelters in the 'Issuer Not Cooperating' category. The rating is
denoted as "[ICRA]B+(Stable); ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 16.50 [ICRA]B+ (Stable) ISSUER NOT
Fund Based- COOPERATING; Rating continues
Cash Credit to remain under 'Issuer Not
Cooperating' category
Long Term- 18.50 [ICRA]B+ (Stable) ISSUER NOT
Unallocated COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Elite Shelters is a partnership firm promoted by Mr. Pramod Patil
and Mr. Vinod Patil. The firm is a part of the Elite Landmarks
group which has developed residential projects aimed at mid and
high-income groups along with commercial properties in and around
the city of Pune. The firm is presently developing two projects
–Elite Pushkar, a residential cum commercial project in the
Kothrud area of Pune and Elite Aanchal, a residential project in
Koregaon Mul, around 30 kilometers from Pune. Elite Pushkar will
comprise of 116 residential units and 62 commercial units. The
project will have two buildings of 16 floors each including 3
basement floors. Elite Aanchal will comprise of 288 residential
units in two buildings having 7 floors each.
EMART SOLUTIONS: Voluntary Liquidation Process Case Summary
-----------------------------------------------------------
Debtor: Emart Solutions India Private Limited
102, #M001, Mazzanine Floor
Triguna Icon, #21 Arekampanahalli
Hosur Road, Bangalore 560027
Liquidation Commencement Date: February 28, 2022
Court: National Company Law Tribunal, Bangalore Bench
Insolvency professional: Mr. S Arun Kumar
Interim Resolution
Professional: Mr. S Arun Kumar
#B-103, Adarsh Residency
47th Cross, Jayanagar 8th Block
Bangalore 560070
E-mail: aksco@yahoo.com
msvarunkumar@yahoo.co.in
Tel: 9739416662
9448118006
Last date for
submission of claims: March 30, 2022
FLEXI CAPS: ICRA Keeps B+ Debt Ratings in Not Cooperating
---------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Flexi Caps
& Polymers Private Limited in the 'Issuer Not Cooperating'
category. The rating is denoted as "[ICRA]B+ (Stable)/[ICRA]A4;
ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 12.00 [ICRA]B+ (Stable) ISSUER NOT
Cash Credit COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Fund based- 7.62 [ICRA]B+ (Stable) ISSUER NOT
Term Loan COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Unallocated 0.65 [ICRA]B+ (Stable) ISSUER NOT
COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Non Fund 8.00 [ICRA]A4; ISSUER NOT
Based Others COOPERATING; Rating continues
To remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Incorporated in August 2012, FCPPL is promoted by the Chordia
family of Indore with Mr. Gulabchand Chordia, Mr. Rajesh Chordia
and Mr. Ajay Chordia as its directors. The company is a part of a
well-established Group that has a longstanding experience of around
two decades in the packaging industry. The company manufactures
LDPE-films, PVC films and aluminum blister foils, which find
application in the pharmaceutical and food packing industry.
Located in Indore, the plant has an installed capacity of 9500
metric tonne per annum.
GANESH CARS: ICRA Keeps B+ Debt Rating in Not Cooperating
---------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Ganesh
Cars Private Limited. in the 'Issuer Not Cooperating' category. The
rating is denoted as [ICRA]B+(Stable); ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 10.00 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/CC COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Ganesh Cars Private Limited ('GCPL') is an authorized dealer of
passenger and commercial vehicles of Maruti Suzuki India Limited
(MSIL). GCPL commenced its operations in 1998 and is the exclusive
dealer of MSIL in Vellore district in Tamil Nadu. Apart from sale
of vehicles, the company is also involved in sale of spare parts
and accessories of MSIL. The Company has six showrooms spread
across Vellore, Vaniyambadi, Thiruvannamalai and Kanchipuram in
Tamil Nadu. The promoter of the company is Mr. Ramprakash who has
vast experience in the auto dealership business.
GOODWILL FABRICS: ICRA Keeps B+ Debt Rating in Not Cooperating
--------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Goodwill
Fabrics Private Limited in the 'Issuer Not Cooperating' category.
The rating is denoted as [ICRA]B+(Stable)/[ICRA]A4; ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 3.60 [ICRA]B+ (Stable) ISSUER NOT
Fund Based- COOPERATING; Rating continues
Term Loan to remain under 'Issuer Not
Cooperating' category
Short Term- 23.00 [ICRA]A4 ISSUER NOT
Non Fund Based COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Promoted by the Baheria family in 1999, GFPL manufactures readymade
garments (RMG) including woven wear for men, women, and children.
Under men's wear, while the company mostly manufactures bottoms,
under ladies' wear, it specializes in embroidery tops, skirts and
bottom wear with different types and kinds of washing and printing.
With negligible domestic sales, the company derives almost 98% per
cent of its revenues from exports to countries including the USA,
Australia, Europe, UK, Germany, and France. The company has six
units - five in Bangalore and one in Dharmapuri (Tamil Nadu) along
with one subsidiary in Bhilwara, Rajasthan. Out of five units in
Bangalore, one unit caters to only embroidery, while the remaining
facilities are stitching units. Apart from this, it also outsources
washing, embroidery and printing to dedicated units.
GSR MOVIES: ICRA Keeps B+ Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of GSR Movies
in the 'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]B+ (Stable)/[ICRA]A4; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 10.00 [ICRA]B+ (Stable) ISSUER NOT
Fund Based- COOPERATING; Rating continues
Term Loan to remain under 'Issuer Not
Cooperating' category
Short-term 2.06 [ICRA]A4; ISSUER NOT
Non Fund COOPERATING; Rating continues
Based-Others To remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Incorporated in 2001, G.S.R. Movies, is a Wave Group promoted firm
and is engaged in operating Mall cum Multiplex property in the
Moradabad area of Uttar Pradesh. This apart the firm has also been
undertaking a plotting development project which has been
completed.
GUJARAT STATE: Liquidation Process Case Summary
-----------------------------------------------
Debtor: Gujarat State Construction Corporation Limited
G-1, 201/1
Sector-30
Gandhinagar 382030
Gujarat, India
Liquidation Commencement Date: March 3, 2022
Court: National Company Law Tribunal, Ahmedabad Bench
Date of closure of
insolvency resolution process: March 3, 2022
Insolvency professional: CS Arvind Gaudana
Interim Resolution
Professional: CS Arvind Gaudana
307, Ashirwad Paras
Nr. Prahladnagar Garden
Corporate Road Satellite
Ahmedabad 380015
Tel: +91 7940324567-68
E-mail: arvindg_cs@yahoo.com
Last date for
submission of claims: March 31, 2022
H.K. AGRO: ICRA Keeps D Debt Ratings in Not Cooperating Category
----------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of H.K. Agro
Impex in the 'Issuer Not Cooperating' category. The rating is
denoted as [ICRA]D/[ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term– 3.00 [ICRA]D; ISSUER NOT
COOPERATING;
Fund based/CC Rating Continues to remain under
'Issuer Not Cooperating'
Category
Long-term– 2.38 [ICRA]D; ISSUER NOT
COOPERATING;
Fund based/TL Rating Continues to remain under
'Issuer Not Cooperating'
Category
Short-term 1.00 [ICRA]D; ISSUER NOT COOPERATING;
Non-fund based Continues to remain under the
'Issuer Not Cooperating'
Category
Long Term/ 3.62 [ICRA]D/[ICRA]D; ISSUER NOT
Short Term- COOPERATING; Rating continue to
Unallocated remain under the 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Established in 2014, H.K Agro Impex is a proprietorship firm
managed by Mr. Mohammed Ansari. The firm is engaged in processing
cashew kernels from raw cashew nuts. The firm has its processing
unit in Mangalore, Karnataka with an installed capacity of
processing 60 bags of raw cashew nuts per day as on August 2016.
IRE-TEX PREMIER: ICRA Keeps B Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of IRE-TEX
Premier India Pvt Ltd. in the 'Issuer Not Cooperating' category.
The rating is denoted as [ICRA]B(Stable)/[ICRA]A4; ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 4.00 [ICRA]B (Stable) ISSUER NOT
Fund Based/CC COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Long Term- 4.50 [ICRA]B (Stable) ISSUER NOT
Fund Based/TL COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Short Term- 5.00 [ICRA]A4 ISSUER NOT
Non Fund Based COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Long Term/ 0.50 [ICRA]B(Stable)/[ICRA]A4;
Short Term- ISSUER NOT COOPERATING;
Unallocated Rating Continues to remain
under issuer not cooperating
category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Ire-Tex Premier India Pvt Ltd was incorporated on March 5, 2007 and
is involved in manufacturing of Expanded Poly Ethylene (EPE)/Low
density Poly Ethylene (LDPE) foam and air bubble products. The
company's products majorly cater to various types of packaging
needs of the customers. The company is ISO 9001 certified and has
its manufacturing facility at Sriperumbudur in Tamil Nadu, spread
across 5-acre land with built-up area of 1,00,000 sqft (40,000 sqft
of admin building and 60,000 sqft of factory premises). The company
has capacity to produce 4,500 Metric Tonnes Per Annum (MTPA) of
packaging material.
K.K. LEISURES: ICRA Keeps B- Debt Ratings in Not Cooperating
------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of K.K.
Leisures & Tourism International Private Limited. in the 'Issuer
Not Cooperating' category. The rating is denoted as
[ICRA]B-(Stable); ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 14.27 [ICRA]B- (Stable) ISSUER NOT
Fund Based/CC COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Long Term- 0.73 [ICRA]B+ (Stable) ISSUER NOT
Unallocated COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
K.K. Leisures & Tourism International Private Limited, incorporated
in 2007, owns and operates hotels across Kerala. The Company has
three hotels under the name – Broad Bean; of which two hotels are
located in Kannur district and a resort in Munnar district. During
September 2013, the promoters of the company acquired a 3-star
property in Kochi – Broad Bean, Vytilla (erstwhile Nyle Plaza),
which was later upgraded to a 4-star hotel and operates as a
subsidiary of KKLT. The group enjoys moderate brand equity due to
its operational history of over a decade of the 'Broad Bean' chain.
MARUTI NOUVEAUKNITS: ICRA Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
ICRA has retained the Long-term ratings Maruti Nouveauknits Private
Limited in the 'Issuer Not Cooperating' category. The ratings are
denoted as [ICRA]D/[ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term– 4.50 [ICRA]D; ISSUER NOT
COOPERATING;
Fund based Rating Continues to remain under
Cash Credit 'Issuer Not Cooperating'
Category
Long-term– 3.50 [ICRA]D; ISSUER NOT
COOPERATING;
Fund based Rating Continues to remain under
Term Loan 'Issuer Not Cooperating'
Category
Short-term 0.35 [ICRA]D; ISSUER NOT COOPERATING;
Non-fund based Continues to remain under the
'Issuer Not Cooperating'
Category
Long-term/ 3.37 [ICRA]D/[ICRA]D; ISSUER NOT
Short Term COOPERATING; Rating Continues to
Unallocated remain under 'Issuer Not
Non Fund Based Cooperating' Category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Gujarat Hiflow Yarn Limited ('GHYL') was incorporated in 1993 by
the Aggarwal group and was engaged in texturing of yarn. On May
2009 the company was acquired by Mr. Anil Chaudhary and Mr. Keshari
Chand Chhajer. The entire business was revamped and GHYL started
manufacturing metallic films, hot stamping foil and sequin foil.
The name of the company was changed to Maruti Holostic Limited and
subsequently to Maruti Holostic Private Limited in April 2015 to
align its name with the line of business. The company started
manufacturing holographic items from February 2016; the products
manufactured included holographic labels, films, and stickers. The
company was also involved in trading of solar panels and finished
fabrics from FY2016. The finished fabrics comprised sarees and
dress materials which were procured from Surat and sold in
different parts of India.
MCNALLY SAYAJI: Leading Engineering Firms Submit EOIs
-----------------------------------------------------
The Times of India reports that leading engineering companies like
Tega Industries, TWL, German MNC Thyssenkrupp, Gainwell Engineering
have filed expressions of interest (EOI) for ailing Williamson
Magor Group firm McNally Sayaji Engineering, which is now under
insolvency proceedings.
TOI relates that sources close to the development said that 17 EoIs
(expressions of interest) have been filed so far. The last date for
filing of EoI is the first week of April.
TWL and Tega are both listed on the NSE and the BSE and one of the
leaders in their respective field while Gainwell is the licensee
for global engineering giant Caterpillar of the US, the report
notes.
McNally Sayaji Engineering is the first Williamson Magor Group
Company to be admitted at National Company Law Tribunal (NCLT), TOI
notes. It used to be a subsidiary of McNally Bharat Engineering.
Currently, it is an associate company of McNally Bharat following
invocation of shares by creditors. ICICI Bank went to NCLT against
McNall y Sayaji for a default of over INR50 crore.
According to TOI, sources close to the development pointed out that
there has been a very encouraging response for the engineering
firm. Apart from some leading engineering companies, corporate from
other fields have also filed EoI, the report says. This includes
Alcov group from real estate, one of the leading electronics
retailers from east Gre at Eastern Retail, Bengal Energy, Godavari
Commodities, A K Logistics, K D Iron & Steel along with others.
The total admitted claims of secured and unsecured creditors is
around INR330 crore, TOI discloses. The main lenders of McNally
Sayaji are: ICICI Bank, SBI, IDBI Bank, DBS and Kotak Bank. ICICI
Bank had the maximum exposure in the company.
NESA INDIA: Liquidation Process Case Summary
--------------------------------------------
Debtor: Nesa India Producer Company Limited
H.No. 103 KH No. 47/22
Akash Vihar Nangloi
Near Kali Mata Mandir
New Delhi 110041
Liquidation Commencement Date: February 22, 2022
Court: National Company Law Tribunal, New Delhi, Bench V
Date of closure of
insolvency resolution process: February 21, 2022
Insolvency professional: Lekhraj Bajaj
Interim Resolution
Professional: Lekhraj Bajaj
107, Agarwal Prestige Mall
Adjoining to M2K
Pitampura, Delhi 110034
E-mail: lekhrajbajaj@rediffmail.com
liquidatomesa@gmail.com
Last date for
submission of claims: March 23, 2022
NIRWANA HOTELS: ICRA Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Nirwana
Hotels and Resorts Private Limited. in the 'Issuer Not Cooperating'
category. The rating is denoted as [ICRA]D; ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term– 2.00 [ICRA]D; ISSUER NOT
COOPERATING;
Fund based/CC Rating Continues to remain under
'Issuer Not Cooperating'
Category
Long-term– 7.77 [ICRA]D; ISSUER NOT
COOPERATING;
Fund based/TL Rating Continues to remain under
'Issuer Not Cooperating'
Category
Long Term– 0.02 [ICRA]D; ISSUER NOT
COOPERATING;
Non-Fund Based Rating continue to remain under
the 'Issuer Not Cooperating'
category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Incorporated in 1993, NHRPL is engaged in hospitality services
through a single, 59-room resort, "Hoysala Village Resort" ("the
resort") located in Hassan, Karnataka, about 200 km from Bangalore.
The resort is spread over seven acres completely owned by the
promoters, with about 30 cottages, 10 suites, nine villas and 10
palace rooms. Apart from lodging, Hoysala Village Resort offers a
variety of other facilities to its guests like a swimming pool,
indoor sports, massage and trekking options. The resort also has
multi-cuisine restaurant, a spa, a souvenir shop and a café to
cater to varied preferences of its domestic and foreign guests. The
company is promoted by Mr. K. R Alwa and his family. The promoters
have a presence across real estate and agricultural businesses
through their other companies, such as Civic India Housing Private
Limited and Civic India Mphar Private Limited.
OM BAKERIES PRIVATE: Voluntary Liquidation Process Case Summary
---------------------------------------------------------------
Debtor: Om Bakeries Private Limited
301, City Centre
The Mall
Kanpur 208004
Liquidation Commencement Date: March 7, 2022
Court: National Company Law Tribunal, Prayagraj Bench
Insolvency professional: Sudhir Kumar Shukla
Interim Resolution
Professional: Sudhir Kumar Shukla
U-22, Ground Floor, Sangam Place
Civil Lines, Prayagraj
Uttar Pradesh 211001
E-mail: skshukla22@hotmail.com
vol.liq.obpl@gmail.com
Tel: +91 9452620795
Last date for
submission of claims: April 6, 2022
P N RAO: ICRA Keeps B+ Debt Ratings in Not Cooperating Category
---------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of P N Rao.
in the 'Issuer Not Cooperating' category. The rating is denoted as
[ICRA]B+(Stable); ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 6.00 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/CC COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Long Term- 2.70 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/TL COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
P N Rao was incorporated in the year 1923 by Shri P.N.Rao. The
company retails in branded suits, shirts and accessories. It is one
of the largest suit-selling stores in south India. P N Rao group is
a leading dealer in textiles, readymade garments and tailor in
suits and other accessories. With years of experience and
expertise, it is one of the largest stores in Bangalore for
purchase or tailoring of suits. Having started its flagship store
on MG Road in Bangalore, the group has grown consistently over the
last decade with 5 stores in Bangalore and two in Chennai. With
consistent growth, the management plans to incorporate more stores
in the country and expand its reach to the customers.
PRAMUK INFRACON: ICRA Keeps B+ Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Pramuk
Infracon LLP in the 'Issuer Not Cooperating' category. The rating
is denoted as "[ICRA]B+ (Stable); ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 90.00 [ICRA]B+ (Stable) ISSUER NOT
Fund Based- COOPERATING; Rating continues
Cash Credit to remain under 'Issuer Not
Cooperating' category
Long Term- 10.00 [ICRA]B+ (Stable) ISSUER NOT
Unallocated COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Pramuk Infracon LLP is a Bengaluru-based real-estate firm engaged
in the development of residential and commercial projects. The firm
was incorporated in 2011 with Mr. SKB Prasad and Mr. N Keshavmurthy
as partners. The entity is into the business of real estate
development and has completed two projects since its inception with
a total built-up area of 6.3 lakh square feet. Presently, the firm
is executing its third mixed-use project named Pramuk MM Meridian
Heights in KR Road, Jayanagar, Bengaluru. The project consists of
two residential towers, comprising of 2B+25 floors each with 132
residential units, and one commercial tower, comprising of 3B+7
floors with total area of 3,16,731 square feet (sqft).
PRAVIN ELECTRICALS: ICRA Keeps B+ Debt Ratings in Not Cooperating
-----------------------------------------------------------------
ICRA has withdrawn the ratings assigned to the bank facilities of
Pravin Electricals Private Limited at the request of the company
and based on the No Objection Certificate/Closure Certificate
received from the banker. However, ICRA does not have information
to suggest that the credit risk has changed since the time the
rating was last reviewed. The Key Rating Drivers, Liquidity
Position, Rating Sensitivities, Key Financial indicators have not
been captured as the rated instruments are being withdrawn.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 7.00 [ICRA]B+ (Stable) ISSUER NOT
Cash Credit COOPERATING; Withdrawn
Non-fund based– 57.50 [ICRA]A4; ISSUER NOT
Bank Guarantee COOPERATING; Withdrawn
Pravin Electricals Private Limited ('PEPL' or 'the company') was
set up by Mr. M.G. Philip who has over thirty years of experience
in electrical contracting industry. Until 1999, the company
operations were carried out through a proprietorship firm in the
name of Mr. M.G. Philip. PEPL was incorporated in 2000 and the
business operations of the firm were taken over by the company. The
company is 100% owned by the promoter family.
The company is primarily engaged in design, supply, installation,
testing and commissioning of electrical installation projects. The
company caters to companies across various segments like
residential, commercial, infrastructure and industrial among
others. The company is ISO 9001:2008 certified and has a pan India
presence with branch offices across eight locations in India.
PEPL offers services including complete HT (High Tension) and LT
(Low Tension) electrical installations, lighting, earthing,
telephone and intercom systems, security and access control, fire
detection and alarm systems, closed circuit TV surveillance and
integrated building management systems.
SHIVAM HI TECH: ICRA Keeps B+ Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Shivam Hi
Tech Steels Pvt. Ltd. in the 'Issuer Not Cooperating' category.
The rating is denoted as "[ICRA]B+ (Stable)/[ICRA]A4; ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 21.00 [ICRA]B+ (Stable) ISSUER NOT
Fund Based- COOPERATING; Rating continues
Cash Credit to remain under 'Issuer Not
Cooperating' category
Long Term- 4.23 [ICRA]B+ (Stable) ISSUER NOT
Fund Based- COOPERATING; Rating continues
Term Loan to remain under 'Issuer Not
Cooperating' category
Long Term/ 2.54 [ICRA]B+(Stable)/[ICRA]A4;
Short Term- ISSUER NOT COOPERATING;
Unallocated Rating Continues to remain
under issuer not cooperating
category
Short Term- 15.61 [ICRA]A4 ISSUER NOT
Non Fund Based COOPERATING; Rating continues
Others To remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Incorporated in 2005, SHSPL is primarily involved in the
fabrication of heavy steel structures like box column, tower
column, ducts, draft tube, suction cone, hoppers, cooler shells and
other assembles, catering primarily to the steel manufacturing
companies, power plants, cement plants and refineries. The company
has two operating units with a combined steel fabrication capacity
of 12,000 metric tonnes per annum (MTPA) at Bhilai, Chhattisgarh.
During FY2015, the company has commissioned a third unit for
manufacturing of metallurgical cored wire with an installed
capacity of 5,000 MTPA. In December 2016, the company has also set
up a ferro-alloy unit with an installed capacity of 3,600 MTPA.
Beside this, SHSPL trades in pumps (dealer of Kirloskar Brothers
Limited), welding consumables (dealer of Ador Fontech Limited) and
other allied equipment.
SIYARAM METAL: ICRA Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Siyaram
Metal Udyog Private Limited. in the 'Issuer Not Cooperating'
category. The rating is denoted as [ICRA]B- (Stable); ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 35.00 [ICRA]B- (Stable) ISSUER NOT
Cash Credit COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Siyaram Metal Udyog Private Limited (SMUPL) is a metal merchant
based in Jamnagar, Gujarat and has been in operations for the last
two decades. The company primarily trades non-ferrous metallic
scrap in and around Jamnagar. SMUPL imports nonferrous scrap. The
product profile includes brass scrap, ingots and other copper
alloys, as well as zinc.
TURQUOISE & GOLD: ICRA Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Turquoise
& Gold Apparels Private Limited. in the 'Issuer Not Cooperating'
category. The rating is denoted as [ICRA]D/[ICRA]D; ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term– 1.50 [ICRA]D; ISSUER NOT
COOPERATING;
Fund based/TL Rating Continues to remain under
'Issuer Not Cooperating'
Category
Short-term 10.00 [ICRA]D; ISSUER NOT COOPERATING;
Non-fund based Continues to remain under the
'Issuer Not Cooperating'
Category
Long-term/ 3.20 [ICRA]D/[ICRA]D; ISSUER NOT
Short Term- COOPERATING; Rating Continues to
Unallocated remain under 'Issuer Not
Cooperating' Category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Incorporated in 2008, TGAPL is promoted and managed by Ms. Dimple
Varma along with her sisters, Ms. Samara Mahindra and Ms. Natasha
Mahindra. The company manufactures readymade garments primarily,
for the exports market and specializes in children's wear and
women's wear. It has a presence in the domestic market through its
showrooms in Bangalore and Goa. It has three manufacturing
facilities in Bangalore, with a total workforce of around 1,700 and
a total production capacity of 17 lakh garments per month .
VARANKIT EXPORTS: Voluntary Liquidation Process Case Summary
------------------------------------------------------------
Debtor: Varankit Exports Private Limited
9, Dharam Park
Shyam Nagar-2
Ajmer Road
Jaipur 302019
Rajasthan
Liquidation Commencement Date: March 7, 2022
Court: National Company Law Tribunal, Jaipur Bench
Insolvency professional: Mr. Sandeep Kumar Jain
Interim Resolution
Professional: Mr. Sandeep Kumar Jain
24 Ka 1, Near Vodhan Sabha
Jyoti Nagar, Jaipur 302005
Rajasthan
E-mail: cssandeep@armsandassociates.com
Tel: +91 9828050920
Last date for
submission of claims: April 6, 2022
ZENICA CARS: ICRA Keeps D Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
ICRA has retained the ratings for the bank facilities of Zenica
Cars India Private Limited. in the 'Issuer Not Cooperating'
category. The rating is denoted as [ICRA]D; ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term 150.00 [ICRA]D;ISSUER NOT COOPERATING;
Unallocated Rating continue to remain under
Limits the 'Issuer Not Cooperating'
category
ICRA has been trying to seek information from the entity so as to
monitor its performance. Further, ICRA has been sending repeated
reminders to the entity for payment of surveillance fee that became
due but despite repeated requests by ICRA, the entity's management
has remained non-cooperative. The current rating action has been
taken by ICRA basis best available/dated/limited information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity. The rating action has been
taken in accordance with ICRA's policy in respect of
non-cooperation by a rated entity available at www.icra.in.
Established in October 2013, KBR is a partnership firm with Mr.
Bhagwan Dass Singla, Mr. Krishan Murari and Mrs Adesh Singla as
partners. The firm is involved in the milling, processing and
trading of Basmati and non-Basmati rice. KBR's plant is located at
Jundla near Karnal (Haryana).
=========
J A P A N
=========
[*] JAPAN: 30 Ski Resorts Shut or Suspend Operations Due to COVID
-----------------------------------------------------------------
The Yomiuri Shimbun reports that thirty ski resorts in Japan have
either been forced into bankruptcy or suspended operations over the
past two years since the worldwide spread of the coronavirus.
Ski slopes this year are in good condition thanks to heavy snow.
Even so, some ski resorts are still struggling to stay open amid
the quasi-emergency COVID-19 priority measures, the report says.
According to Yomiuri Shimbun, five resorts have suspended
operations this season in Niigata Prefecture, which is making
efforts to attract overseas tourists.
Yomiuri Shimbun says the Itsukamachi ski resort in Minami-Uonuma,
Niigata, has decided to shut down because profits through last
season have experienced a sharp drop-off and uncertainty over
future outbreaks remains.
"It's very difficult for small ski resorts to maintain operations,"
the resort operator said.
Yomiuri Shimbun relates that the operator of the lone ski resort in
Saga Prefecture announced in January that it would close because of
several years of low snowfall as well as coronavirus impact.
The Saga District Court issued the operator of the Tenzan ski
resort in Saga commencement orders for bankruptcy proceedings.
Located about an hour by car from Fukuoka City, the resort was
popular and attracted more than 100,000 visitors each season, the
report notes.
According to the report, the Tokyo-based Japan Funicular Transport
Association said there were 437 nationwide resorts equipped with
lifts and other facilities as of January this year. However, since
the pandemic started two years ago, a string of resorts began
suspending operations, with 30 resorts in Hokkaido, Nagano, Gifu
and other prefectures either pausing business practices or
completely shutting down.
The number of resorts has sunk to two-thirds since peaking at 698
in 1999, the report states.
"The pandemic has spurred the decline in the number of resorts that
had already suffered from limited snowfalls and a declining ski
population," the report quotes a spokesperson of the association as
saying.
Just this season, the Ishiuchi Maruyama resort in Minami-Uonuma
installed lift tickets equipped with IC chips in an effort to
mitigate physical contact.
It enjoyed brisk sales online and maintained its average number of
skiers up until early January. However, it was forced to suspend
new sales of discount lift tickets after COVID-19 priority measures
were issued in Niigata Prefecture on Jan. 21, affecting the number
of families visiting the resort, says Yomiuri Shimbun.
The prefecture lifted its priority measures on March 6, but the ski
season is just about to come to an end.
"There is less than one month now left in the business window," a
spokesperson from the resort's business planning section said.
"We'll take all possible prevention measures and welcome as many
customers as possible."
=====================
N E W Z E A L A N D
=====================
BLUESTONE NZ 2022-1: S&P Assigns Prelim. B Rating on F Notes
------------------------------------------------------------
S&P Global Ratings assigned its preliminary ratings to eight
classes of prime residential mortgage-backed securities (RMBS) to
be issued by New Zealand Guardian Trust Co. Ltd. as trustee of
Bluestone NZ Prime 2022-1 Trust. Bluestone NZ Prime 2022-1 Trust is
a securitization of prime residential mortgages originated by
Bluestone Mortgages NZ Ltd.
The preliminary ratings we have assigned to the floating-rate RMBS
reflect the following factors.
The credit risk of the underlying collateral portfolio and the
credit support provided to each class of notes are commensurate
with the ratings assigned. Note subordination and excess spread
provide credit support. S&P's assessment of credit risk considers
Bluestone's underwriting standards and approval process, and
Bluestone's strong servicing quality.
The rated notes can meet timely payment of interest and ultimate
payment of principal under the rating stresses. Key rating factors
are the level of subordination provided, the provision of a
liquidity facility, the principal draw function, and the provision
of an extraordinary expense reserve. S&P's analysis is on the basis
that the rated notes are fully redeemed via the principal waterfall
mechanism under the transaction documents by their legal final
maturity date, and it assumes the notes are not called at or beyond
the call-option date.
S&P said, "Our ratings also consider the counterparty exposure to
ASB Bank Ltd. as bank account provider, Westpac New Zealand Ltd. as
the liquidity facility provider, and Bank of New Zealand as the
interest-rate hedge provider. The transaction documents for the
swaps and facilities include downgrade language consistent with S&P
Global Ratings' counterparty criteria.
"We have also factored into our ratings the legal structure of the
trust, which is established as a special-purpose entity and meets
our criteria for insolvency remoteness."
Preliminary Ratings Assigned
Bluestone NZ Prime 2022-1 Trust
Class A1, NZD$100.00 million: AAA (sf)
Class A2, NZD$138.00 million: AAA (sf)
Class A3, NZD$23.52 million: AAA (sf)
Class B, NZD$5.60 million: AA (sf)
Class C, NZD$5.04 million: A (sf)
Class D, NZD$3.36 million: BBB (sf)
Class E, NZD$2.10 million: BB (sf)
Class F, NZD$1.40 million: B (sf)
Class G1, NZD$0.49 million: Not rated
Class G2, NZD$0.49 million: Not rated
CITY GRIND: Creditors' Proofs of Debt Due on May 11
---------------------------------------------------
Creditors of City Grind Limited (trading as Frasers Cafe), MSM Pita
Bread Limited and CBD Office Limited, are required to file their
proofs of debt by May 11, 2022, to be included in the company's
dividend distribution.
Christopher Carey McCullagh and Stephen Mark Lawrence of PKF
Corporate Recovery were appointed joint and several liquidators of
City Grind by a special resolution of shareholders on March 11,
2022, MSM Pita Bread by the High Court in Auckland on March 11,
2022, and CBD Office Limited by a special resolution of
shareholders on March 14, 2022.
The company's liquidators can be reached at:
PKF Corporate Recovery
PO Box 3678
Auckland 1140
DARGAVILLE VETERINARY: Creditors' Proofs of Debt Due on April 18
----------------------------------------------------------------
Creditors of Dargaville Veterinary Centre 2018 Limited are required
to file their proofs of debt by April 18, 2022, to be included in
the company's dividend distribution.
Iain Bruce Shephard and Rees Logan of BDO Wellington and BDO
Auckland were appointed liquidators of the company by a special
resolution of the shareholders on March 14, 2022.
The company's liquidators can be reached at:
BDO Wellington
Level 1, 50 Customhouse Quay
Wellington 6011
EDMONDS SHEARING: Court to Hear Wind-Up Petition on March 24
------------------------------------------------------------
A petition to wind up the operations of Edmonds Shearing Limited
will be heard before the High Court at Whanganui on March 24, 2022,
at 9:30 a.m.
The Commissioner of Inland Revenue filed the petition against the
company on Sept. 30, 2021.
The Petitioner's solicitor is:
Tara Nicola Carr
Legal Services
11 Jepsen Grove
Wallaceville, Upper Hutt 5018
JKF LIMITED: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------
Creditors of JKF Limited (trading as The Pet Shop Taupo), are
required to file their proofs of debt by April 29, 2022, to be
included in the company's dividend distribution.
Garry Whimp, Licensed Insolvency Practitioner of Whangarei, was
appointed as liquidator of the company by a special resolution of
the shareholders of the company on March 14, 2022.
The company's liquidators can be reached at:
Blacklock Rose Limited
PO Box 6709
Victoria Street West
Auckland 1142
ORAKA TECHNOLOGIES: Court to Hear Wind-Up Petition on April 4
-------------------------------------------------------------
A petition to wind up the operations of Oraka Technologies Limited
will be heard before the High Court at Hamilton on April 4, 2022,
at 10:45 a.m.
Kamber Electronics Limited filed the petition against the company
on Feb. 1, 2022.
The Petitioner's solicitor is:
Toby Braun
Braun Bond & Lomas
Level 1, 127 Alexandra Street
Hamilton
=================
S I N G A P O R E
=================
AGV GROUP: Court to Hear Judicial Management Application on May 4
-----------------------------------------------------------------
The Interim Judicial Managers of AGV Group Limited announced on
March 18 that the High Court of Singapore will hear the application
for Judicial Management on May 4, 2022, at 2:30 p.m.
Mr. Leow Quek Shiong and Mr. Gary Loh Weng Fatt of BDO Advisory Pte
Ltd have been appointed, jointly and severally, as interim judicial
managers of the Company on Jan. 24, 2022.
DANISH BREWERIES: Creditors' Meetings Set for April 12
------------------------------------------------------
Danish Breweries Pte Ltd will hold a meeting for its creditors on
April 12, 2022, at 11:00 a.m., via video conferencing (Microsoft
Teams or Zoom).
Agenda of the meeting includes:
a. to lay before the creditors a full Statement of Affairs of
the Company, showing the assets and liabilities, together
with a list of creditors and the estimated amount of their
claims;
b. to confirm the appointment of Mr. Chan Yee Hong, licensed
Insolvency Practitioner, of Nexia TS Risk Advisory Pte. Ltd.
of 80 Robinson Road, #25-00, Singapore 068898, as Liquidator
of the Company for the purpose of such voluntary winding up
and that the Liquidator’s fees be based on his normal scale
rates and disbursements incurred be paid out of the
Company’s assets; and
c. to consider and if deemed fit appoint a Committee of
Inspection; and
d. any other business.
Mr. Chan Yee Hong of Nexia TS Risk Advisory was appointed as
provisional liquidator of the company on March 14.
KPI SINGAPORE: Court to Hear Wind-Up Petition on April 1
--------------------------------------------------------
A petition to wind up the operations of KPI Singapore Pte Ltd will
be heard before the High Court of Singapore on April 1, 2022, at
10:00 a.m.
United Overseas Bank Limited filed the petition against the company
on March 10, 2022.
The Petitioner's solicitors are:
Messrs Harry Elias Partnership LLP
SGX Centre 2
#17-01, 4 Shenton Way
Singapore 068807
PVS INT'L: Court to Hear Wind-Up Petition on March 25
-----------------------------------------------------
A petition to wind up the operations of PVS International
(Singapore) Pte Ltd will be heard before the High Court of
Singapore on March 25, 2022, at 10:00 a.m.
Incomlend Pte. Ltd filed the petition against the company on Feb.
16, 2022.
The Petitioner's solicitors are:
Drew & Napier LLC
10 Collyer Quay
#10-01 Ocean Financial Centre
Singapore 049315
UNCLE LEONG: Court to Hear Wind-Up Petition on April 8
------------------------------------------------------
A petition to wind up the operations of Uncle Leong Signatures Pte
Ltd will be heard before the High Court of Singapore on April 8,
2022, at 10:00 a.m.
Maybank Singapore Limited filed the petition against the company on
March 14, 2022.
The Petitioner's solicitors are:
Shook Lin & Bok LLP
1 Robinson Road
#18-00, AIA Tower
Singapore 048542
YAMAKO PACIFIC: Court to Hear Wind-Up Petition on April 1
---------------------------------------------------------
A petition to wind up the operations of Yamako Pacific Pte Ltd will
be heard before the High Court of Singapore on April 1, 2022, at
10:00 a.m.
SBI Islamic Fund II (Brunei) Limited filed the petition against the
company on March 9, 2022.
The Petitioner's solicitors are:
Drew & Napier LLC
10 Collyer Quay
#10-01 Ocean Financial Centre
Singapore 049315
*********
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 2022. All rights reserved. ISSN: 1520-9482.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.
Information contained herein is obtained from sources believed
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TCR-AP subscription rate is US$775 for 6 months delivered via e-
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firm for the term of the initial subscription or balance
thereof are US$25 each. For subscription information, contact
Peter Chapman at 215-945-7000.
*** End of Transmission ***