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       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, October 7, 2024, Vol. 27, No. 201

                           Headlines



A U S T R A L I A

ARCADIA PROJECTS: First Creditors' Meeting Set for Oct. 15
BIRIEL INDUSTRIES: First Creditors' Meeting Set for Oct. 10
COASTLINE CORPORATION: First Creditors' Meeting Set for Oct. 10
GLOBAL CAPITAL: Fed. Court Appoints FTI Consulting as Liquidators
ISG FINANCIAL: Court Orders Wind Up of Managed Investment Schemes

MANUFACTION PTY: First Creditors' Meeting Set for Oct. 11
QUASAR CONSTRUCTIONS: Enters Administration, Owes Creditors AUD60M
[*] RSM Australia Merges w/ Chamberlain's SBR


C H I N A

SHINECO INC: Incurs $24.35 Million Net Loss in FY Ended June 30
UXIN LTD: Reports RMB49.8 Million Net Loss in Q1 FY2025


I N D I A

AGNIPA ENERGO: Liquidation Process Case Summary
DEV KIRAN: CARE Keeps D Debt Ratings in Not Cooperating Category
DREAM WEAVER: CARE Moves D Debt Ratings to Not Cooperating
ET PLANNERS: Voluntary Liquidation Process Case Summary
G S BIOTECH: Liquidation Process Case Summary

GIRIRAJ JEWELLERS: CARE Keeps D Debt Ratings in Not Cooperating
GUARDIANS EMS: Voluntary Liquidation Process Case Summary
HALASIDHANATH SAHAKARI: CARE Cuts Rating on INR145cr LT Loan to C
INDERJIT MARWAHA: CARE Lowers Rating on INR48cr LT Loan to B+
JAGATH MILK: CARE Keeps C Debt Rating in Not Cooperating Category

JAIMAL SINGH: CARE Keeps B- Debt Rating in Not Cooperating
KARAMHANS FOODS: CARE Keeps C Debt Rating in Not Cooperating
KUDU FABRICS: CARE Keeps B- Debt Rating in Not Cooperating
LIBRA AUTO: CARE Keeps D Debt Rating in Not Cooperating Category
LOHIA AUTO: CARE Keeps B- Debt Rating in Not Cooperating Category

MAHANAGAR TELEPHONE: SBI Classifies Account as NPA After Default
MAHAVEERJI POLYFAB: CARE Keeps B- Debt Rating in Not Cooperating
MEDIPARK HEALTHCARE: CARE Keeps B- Debt Rating in Not Cooperating
PANKAJ ISPAT: CARE Keeps B- Debt Rating in Not Cooperating
PARATUS REAL: ICRA Keeps D Debt Rating in Not Cooperating

PUNJABI UNIVERSITY: ICRA Lowers Rating on INR120cr LT Loan to B+
RADIANT ROCKS: CARE Keeps B- Debt Rating in Not Cooperating
RAMSONS ORGANICS: CARE Keeps C Debt Rating in Not Cooperating
RISHU CONSTRUCTION: CARE Keeps D Debt Ratings in Not Cooperating
SAI BALAJI: CARE Keeps C Debt Rating in Not Cooperating Category

SANGHAVI JEWEL: CARE Keeps D Debt Ratings in Not Cooperating
SARE REALTY: Liquidation Process Case Summary
SHRIVALLABH PITTIE: CARE Keeps D Debt Rating in Not Cooperating
SPICEJET: Clears 4-Month Pending Salary of Staff and GST Dues
SUBHLENE FABRICS: CARE Lowers Rating on INR10cr LT Loan to D

SUNGLOW SUITINGS: CARE Lowers Rating on INR10cr LT Loan to B
TECHNO SATCOMM: CARE Keeps D Debt Ratings in Not Cooperating
TOKAI ENGINEERING: CARE Keeps C Debt Rating in Not Cooperating
UNIVERSAL INDIA: ICRA Keeps B Debt Rating in Not Cooperating
VATSAL CONSTRUCTION: ICRA Keeps B+ Debt Rating in Not Cooperating

WELKIN IT: Liquidation Process Case Summary


N E W   Z E A L A N D

ASPIRE WANAKA: Court to Hear Wind-Up Petition on Oct. 10
CONSULATE GROUP: Court to Hear Wind-Up Petition on Oct. 17
DMGTILING LIMITED: Creditors' Proofs of Debt Due on Oct. 30
RURAL RPM: Creditors' Proofs of Debt Due on Nov. 14
TWOPOINTZERODESIGN LTD: Creditors' Proofs of Debt Due on Nov. 15



P A K I S T A N

PAKISTAN CRICKET: No Salary for Cricketers From Last 4 Months


S I N G A P O R E

FUND SINGAPORE: Commences Wind-Up Proceedings
K FOOD: Court to Hear Wind-Up Petition on Oct. 18
MERCURIA MARE: Creditors' Proofs of Debt Due on Nov. 2
RENOWISE PTE: Court to Hear Wind-Up Petition on Oct. 18
TORQUE AUTOS: Court to Hear Wind-Up Petition on Oct. 18



S O U T H   K O R E A

QOO10: Arrest Warrant Sought for CEO Over Massive Payment Delays

                           - - - - -


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

ARCADIA PROJECTS: First Creditors' Meeting Set for Oct. 15
----------------------------------------------------------
A first meeting of the creditors in the proceedings of Arcadia
Projects & Design Pty Ltd will be held on Oct. 15, 2024 at 11:00
a.m. at the offices of 'Westburn Advisory' at Level 5, 115 Pitt
Street in Sydney.

Shumit Banerjee of Westburn Advisory was appointed as administrator
of the company on Oct. 5, 2024.


BIRIEL INDUSTRIES: First Creditors' Meeting Set for Oct. 10
-----------------------------------------------------------
A first meeting of the creditors in the proceedings of Biriel
Industries Pty Ltd will be held on Oct. 10, 2024 at 11:00 a.m. at
the offices of SV Partners Brisbane at 22 Market Street in
Brisbane.

Anne Meagher and Michael Carrafa of SV Partners was appointed as
administrators of the company on Sept. 27, 2024.

COASTLINE CORPORATION: First Creditors' Meeting Set for Oct. 10
---------------------------------------------------------------
A first meeting of the creditors in the proceedings of Coastline
Corporation Pty Ltd will be held on Oct. 10, 2024 at 12:30 p.m. at
the offices of Cor Cordis Perth, M Level, 28 The Esplanade in Perth
and via virtual meeting technology.

Jeremy Joseph Nipps of Cor Cordis was appointed as administrator of
the company on Sept. 30, 2024.


GLOBAL CAPITAL: Fed. Court Appoints FTI Consulting as Liquidators
-----------------------------------------------------------------
The Federal Court has made orders for property investment company
Global Capital Property Fund Limited (GCPF) to be wound up on just
and equitable grounds, appointing Ross Blakeley and Kelly-Anne
Trenfield of FTI Consulting as liquidators.

The Australian Securities & Investments Commission (ASIC) applied
for the winding-up of GCPF as it holds numerous concerns about the
management of GCPF's business.

On June 20, 2024, ASIC obtained interim orders from the Federal
Court freezing the assets of GCPF and related financial advice
licensee United Global Capital Pty Ltd (UGC) (now in liquidation).

The Court subsequently discharged the freezing orders against UGC
following the appointment of a liquidator to that company and on
Oct. 1, 2024, dismissed the proceeding against UGC by consent.

On September 9, 2024, ASIC filed an amended application seeking
orders including the appointment of liquidators to GCPF. GCPF
consented to the liquidators' appointment.

At a hearing on Oct. 3, the Court appointed liquidators to GCPF and
varied the freezing orders to allow the liquidators to take any
action regarding GCPF's property.

Investors and creditors can contact the liquidators with any
queries by emailing:

     * GCPF Investors - investors@fticonsulting.com
     * GCPF Creditors - creditors@fticonsulting.com
     * GCPF (general) - gcpf@fticonsulting.com

ASIC's investigation into UGC and GCPF is continuing.

UGC operated a financial advice business holding an Australian
financial services licence with Joel Hewish as its sole director
and key person on the licence. GCPF has been an authorised
representative of UGC since March 25, 2020.

ASIC made interim stop orders on July 5 and July 21 preventing the
offer of shares to retail investors under GCPF's prospectus as well
as further interim stop orders on August 29 and September 13, 2022
preventing the issue of shares due to a deficient target market
determination.

On June 3, 2024, as a result of ASIC's investigation into UGC, ASIC
cancelled UGC's Australian financial services licence pursuant to
section 915C(1) of the Corporations Act. Additionally, ASIC made an
order under sections 920A and 920B of the Corporations Act banning
Mr, Hewish for 10 years from involvement in a financial services
business. Mr Hewish has applied to the Administrative Appeals
Tribunal for a review of the banning decision.

On July 5, 2024, UGC entered voluntary administration and on
August 9, 2024 UGC's creditors resolved to wind-up UGC and appoint
David Stimpson of SV Partners as liquidator.

The liquidator can be reached at:

          SV Partners
          22 Market Street
          Brisbane QLD 4000
          Phone: (07) 3310 2000
          Email: svpartners.com.au


ISG FINANCIAL: Court Orders Wind Up of Managed Investment Schemes
-----------------------------------------------------------------
The Queensland Supreme Court on Sept. 30, 2024, directed A.C.N. 114
733 569 Limited (formerly ISG Financial Services Limited) (ISG),
the responsible entity for the ISG Private Access Fund and the ISG
Real Estate Equity Fund (together, Schemes), to wind up the Schemes
in accordance with their constitutions, and appointed receivers
over the property of each of the Scheme to take responsibility for
the winding up.

On Aug. 27, 2024, ISG and its director, Benjamin Godfrey, applied
to appoint receivers to the Schemes. On Sept. 5, 2024, ASIC
intervened in the proceeding because it held concerns about,
amongst other things, ISG's financial, governance and compliance
positions. Some investors in the Schemes also intervened and were
granted leave to apply for different receivers than those proposed
by Mr. Godfrey and ISG to be appointed to the Schemes. ASIC agreed
to the appointment of the receivers proposed by those investors,
and the Court agreed.

Neil Robert Cussen, Anthony Phillip Wright and Katherine Barnet of
Olvera Advisors Pty Ltd were appointed receivers of the Schemes.

The Receivers are required to report to the Court as to the winding
up of the Schemes by Nov. 11, 2024, and on various matters
including:

     * whether investors or any other creditors may have a claim
       against either or both of the  Schemes, ISG or its current
       or former officers and/or directors;

     * the property and assets of each of the Schemes;

     * the liabilities and creditors of the Schemes, and the
       investors in the Schemes and the amount of their
       investments;

     * the solvency of the Schemes;

     * the likely return to creditors and investors, including
       investors in respect of specific classes of units issued in
       the each of the Schemes; and

     * the scope of work remaining to wind up the Schemes and a
       timeframe for that work to be completed.

The Court also ordered that the Receivers' reasonable costs and
expenses, once determined by the Court, are to be paid out of the
assets of the Schemes.

ISG holds an Australian Financial Services Licence (AFSL) and is
the responsible entity of the Schemes. Investors were issued units
in the Schemes and the Schemes invested in redeemable preference
shares in related special purpose companies focusing primarily on
property developments. These special purpose companies were
primarily controlled by ISG's director, Benjamin Godfrey.

Since 2019, the Schemes have received approximately $145 million
from retail and wholesale investors.

On July 1, 2022, ASIC suspended ISG's AFSL, having found that ISG
had failed to meet statutory audit and financial reporting
lodgement obligations for itself and the Schemes, and did not have
required professional indemnity insurance coverage in place between
July 14, 2020 and June 21, 2021. ASIC revoked the licence
suspension on Feb. 6, 2023, upon lodgement of ISG's outstanding
statutory audit and financial reports.

In Sept. 2022, ISG ceased paying distributions and later froze
investor redemptions.

Since July 2023, ASIC has been undertaking an investigation into
suspected contraventions of provisions of the Corporations Act 2001
(Cth) in relation to the affairs of ISG.  The investigation is
ongoing.

On Sept. 10, 2024, ISG appointed Mr. Christopher John Baskerville
of Jirsch Sutherland as its voluntary administrator.


MANUFACTION PTY: First Creditors' Meeting Set for Oct. 11
---------------------------------------------------------
A first meeting of the creditors in the proceedings of Manufaction
Pty Ltd will be held on Oct. 11, 2024, at 11:30 a.m. via
teleconference from the offices of KPT Restructuring at Suite 1
Level 20, 20 Bond Street in Sydney.

Jason Tang of KPT Restructuring was appointed as administrator of
the company on Sept. 30, 2024.


QUASAR CONSTRUCTIONS: Enters Administration, Owes Creditors AUD60M
------------------------------------------------------------------
ABC News reports that the federal government is facing fresh calls
to better support the construction industry after the collapse of
another high-profile operation which owed creditors tens of
millions of dollars.

Quasar Constructions has entered administration, impacting 10
projects across Sydney and the Illawarra including work on the new
Western Sydney International Airport, the ABC discloses.

The company reportedly owes creditors around AUD60 million and has
around AUD6 million in assets.

Three projects have been abandoned, three are under review for
rectification works, and four projects are tied up in legal
disputes.

According to the ABC, the collapse has affected work on several
buildings at the Western Sydney International airport, including
the maintenance centre, airport operations control centre, waste
facility building and the main access gatehouse.

The ABC relates that the National Electrical and Communications
Association (NECA) which represents subcontractors, said many of
its members working at the airport are affected.

NECA's head of government relations and policy, Kent Johns, has
called it a devastating blow.

A spokesperson for Western Sydney International said the four
buildings Quasar was hired for are more than 90 per cent complete,
the report relays.

They said Aerowest, the primary contractor, is continuing to work
with subcontractors to finish the project.

Mr. Johns said NECA has written to the Prime Minister and Minister
for Workplace Relations urging them to underwrite subcontractor
losses.

"Two years down the track and we're one year out from election that
still hasn't been delivered on - to be honest the frustration is
palpable."

In response to the request, the federal government released a
statement: "It's not good enough for subcontractors to be paid late
for their work, or in worst-case scenarios, not at all.

"It's the Government's expectation that companies do the right
thing and pay small and medium businesses for the services they
provide - on time and in full.

"While delivery of the Murray Review recommendations primarily sits
with the states and territories, we are working with them and the
construction sector on more security for affected small and medium
businesses."

Quasar Constructions (Commercial) Pty Limited was founded in 2012.
The company's line of business includes the construction of
industrial buildings and warehouses.


[*] RSM Australia Merges w/ Chamberlain's SBR
----------------------------------------------
Australian professional services firm RSM Australia has announced
their Wagga Wagga and Port Macquarie offices will be merging with
local insolvency practice Chamberlain's SBR, to boost their
offering to the NSW and Victorian regional business communities.

RSM Wagga Restructuring and Recovery Partner, Andrew Bowcher, said
the merger, with four Chamberlain's SBR staff joining the 76-strong
RSM Wagga and Port Macquarie team, will give Chamberlain's SBR
clients access to broader business advice and services.

Mr. Bowcher said Chamberlain's SBR's Steven Priest will be joining
as Director together with Matthew Cerato as Senior Manager and Toby
Daniel as a Senior Analyst, while Founding Partner Chris
Chamberlain will join RSM Wagga as Senior Consultant.

"This merger bolsters our Restructuring and Recovery Practice in
regional NSW and regional Victoria and Chamberlain's SBR's motto,
'in stressful times you need trusted advisors', resonates as this
is exactly what RSM seeks to provide our clients around Australia,"
Mr. Bowcher said.

Chamberlain's SBR provides insolvency services to the local
community and services Wagga Wagga, Albury, Dubbo and Wangaratta.

The RSM Wagga and Port Macquarie Senior Leadership Team Cole Levy,
Stuart Heine, Jade Wade, Warren Flynn, Andrew Bowcher, Tim
Gumbleton and Amanda Beckhouse are looking forward to welcoming the
Chamberlain's SBR team and having Steven Priest as a Director.

"The merger with RSM strengthens the services we can provide to
regional NSW and regional Victoria businesses and individuals who
are seeking restructuring and insolvency assistance," Mr. Priest
said.




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

SHINECO INC: Incurs $24.35 Million Net Loss in FY Ended June 30
---------------------------------------------------------------
Shineco, Inc. filed with the Securities and Exchange Commission its
Annual Report on Form 10-K disclosing a net loss of $24.35 million
on $9.80 million of revenue for the year ended June 30, 2024,
compared to a net loss of $13.96 million on $550,476 of revenue for
the year ended June 30, 2023.

As of June 30, 2024, the Company had $84.18 million in total
assets, $47.60 million in total liabilities, and $36.58 million in
total equity.

Singapore-based AssentSure PAC, the Company's auditor since 2021,
issued a "going concern" qualification in its report dated Sept.
30, 2024, citing that the Company had net losses of approximately
US$$24.3 million and US$14.0 million, and cash outflow of US$3.9
million and US$5.4 million from operating activities for the years
ended June 30, 2024 and 2023, respectively.  As of June 30, 2024
and 2023, the Company had accumulated deficit of US$54.3 million
and US$31.7 million, respectively, and as of June 30, 2024 and
2023, the Company had negative working capital of US$6.7 million
and US28.9 million, respectively.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.

A full-text copy of the Form 10-K is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1300734/000149315224038830/form10-k.htm

                         About Shineco

Headquartered in Beijing, People's Republic of China, Shineco, Inc.
is a holding company incorporated in Delaware.  As a holding
company with no material operations of its own, the Company
conducts its operations through its subsidiaries and in the two
years ended June 30, 2023 and 2024, through the VIEs and
subsidiaries.  The Company's shares of common stock currently
listed on the Nasdaq Capital Markets are shares of its Delaware
holding company.


UXIN LTD: Reports RMB49.8 Million Net Loss in Q1 FY2025
-------------------------------------------------------
Uxin Limited, China's leading used car retailer, today announced
its unaudited financial results for the first quarter ended June
30, 2024.

Financial Results for the Quarter Ended June 30, 2024:

  -- Total revenues were RMB401.2 million (US$55.2 million) for the
three months ended June 30, 2024, an increase of 25.7% from
RMB319.2 million in the last quarter and an increase of 38.8% from
RMB289.0 million in the same period last year. The increases were
mainly due to the increase of retail vehicle sales revenue.

  -- Retail vehicle sales revenue was RMB325.0 million (US$44.7
million) for the three months ended June 30, 2024, representing an
increase of 20.6% from RMB269.4 million in the last quarter and an
increase of 73.9% from RMB186.8 million in the same period last
year. For the three months ended June 30, 2024, retail transaction
volume was 4,090 units, an increase of 30.9% from 3,124 units last
quarter and an increase of 142.4% from 1,687 units in the same
period last year. The increases in retail vehicle sales revenue
were mainly due to the increase of retail transaction volume. By
offering superior products and services, the Company's superstores
have built strong customer trust and established Uxin as the
leading brand in regional markets. This further boosted the
in-store customer conversion rate and improved the retail vehicle
inventory turnover rate, enabling the Company to achieve higher
retail transaction volumes with a relatively stable inventory size.
Additionally, in response to the new car price wars and intense
industry competition in the past fiscal year, the Company has
significantly enhanced its pricing capabilities. By promptly
adjusting prices to align with actual market demand, the Company
mitigated the effects of new car price reductions and accelerated
vehicle sales.

  -- Wholesale vehicle sales revenue was RMB63.9 million (US$8.8
million) for the three months ended June 30, 2024, compared with
RMB39.7 million in the last quarter and RMB94.6 million in the same
period last year. For the three months ended June 30, 2024,
wholesale transaction volume was 1,515 units, representing an
increase of 62.2% from 934 units last quarter and a decrease of
3.3% from 1,567 units in the same period last year. Wholesale
vehicle sales refer to vehicles purchased by the Company from
individuals that do not meet the Company's retail standards and are
subsequently sold through online and offline channels. The
quarter-over-quarter increase in wholesale transaction volume was a
natural growth after the traditional off-season for used car sales
due to the Chinese New Year last quarter. Compared with the same
period last year, as the Company continued to improve its inventory
capacity and reconditioning capabilities, an increased number of
acquired vehicles were reconditioned to meet the Company's retail
standards, rather than being sold through wholesale channels. As a
result, the wholesale vehicle sales revenue declined
year-over-year.

  -- Other revenue was RMB12.3 million (US$1.7 million) for the
three months ended June 30, 2024, compared with RMB10 million in
the last quarter and RMB7.6 million in the same period last year.
Other revenues mainly consist of revenue from value-added
services.

  -- Cost of revenues was RMB375.6 million (US$51.7 million) for
the three months ended June 30, 2024, compared with RMB298.1
million in the last quarter and RMB271.4 million in the same period
last year.

  -- Gross margin was 6.4% for the three months ended June 30,
2024, compared with 6.6% in the last quarter and 6.1% in the same
period last year. The Company's gross margin remained stable
quarter-over-quarter.

  -- Total operating expenses were RMB90.9 million (US$12.5
million) for the three months ended June 30, 2024. Total operating
expenses excluding the impact of share-based compensation were
RMB78.9 million.

     * Sales and marketing expenses were RMB59.4 million (US$8.2
million) for the three months ended June 30, 2024, an increase of
16.8% from RMB50.8 million in the last quarter and an increase of
27.5% from RMB46.5 million in the same period last year. The
quarter-over-quarter increase was mainly due to the increased
salaries for the sales teams. Compared with the same period last
year, in addition to the increased salaries for the sales teams,
the year-over-year increase was also attributed to the increase in
right-of-use assets depreciation expenses as a result of relocation
to the Company's Hefei Superstore in September 2023.

     * General and administrative expenses were RMB28.1 million
(US$3.9 million) for the three months ended June 30, 2024,
representing a decrease of 62.7% from RMB75.3 million in the last
quarter and a decrease of 15.1% from RMB33.1 million in the same
period last year. The decrease was mainly due to a decrease of the
share-based compensation expense. Additionally, due to the
execution of a series of initiatives to realign its organizational
structure and reduce the company-wide costs and expenses last
quarter, salaries and benefits expenses for personnel performing
general and administrative functions decreased accordingly.

     * Research and development expenses were RMB3.4 million
(US$0.4 million) for the three months ended June 30, 2024,
representing a decrease of 43.9% from RMB6 million in the last
quarter and a decrease of 61.9% from RMB8.9 million in the same
period last year. The decrease was mainly due to a decrease of the
salaries and benefits expenses of employees engaged in research and
development as a result of the decrease in headcount.

  -- Other operating income, net was RMB2.8 million (US$0.4million)
for the three months ended June 30, 2024, compared with RMB0.9
million for the last quarter and RMB 7.0 million in the same period
last year.

  -- Loss from operations was RMB62.5 million (US$8.6 million) for
the three months ended June 30, 2024, compared with RMB109.8
million for the last quarter and RMB63.2 million in the same period
last year.

  -- Interest expenses were RMB22.9 million (US$3.1 million) for
the three months ended June 30, 2024, representing a decrease of
4.6% from RMB24.0 million in the last quarter and an increase of
346.4% from RMB5.1 million in the same period last year. The
quarter-over-quarter decrease was mainly due to the repayment of
long-term borrowings in April, 2024. The year-over-year increase
was mainly due to the increase of interest expenses on finance
lease liabilities relating to the lease of Changfeng Superstore in
September, 2023.

  -- Net loss from operations was RMB49.8 million (US$6.9 million)
for the three months ended June 30, 2024, compared with net loss of
RMB142.7 million for the last quarter and net loss of RMB91.6
million for the same period last year.

Non-GAAP adjusted EBITDA was a loss of RMB33.9 million (US$4.7
million) for the three months ended June 30, 2024, compared with a
loss of RMB39.7 million in the last quarter and a loss of RMB46.6
million in the same period last year.

Liquidity:

As of June 30, 2024, the Company had cash and cash equivalents of
RMB17.2 million, compared to RMB23.3 million as of March 31, 2024.

The Company has incurred accumulated and recurring losses from
operations, and cash outflows from operating activities. In
addition, the Company's current liabilities exceeded its current
assets by approximately RMB315.6 million as of June 30, 2024.

The Company's ability to continue as a going concern is dependent
on management's ability to increase sales, achieve higher gross
profit margin and control operating costs and expenses to reduce
the cash that will be used in operating cash flows, and to enter
into financing arrangements, including but not limited to renewal
of the existing borrowings and obtaining new debt and equity
financings. There is uncertainty regarding the implementation of
these business and financing plans, which raises substantial doubt
about the Company's ability to continue as a going concern. The
accompanying unaudited financial information does not include any
adjustment that is reflective of these uncertainties.

Recent Development:

On September 13, 2024, Uxin announced that it entered into a
memorandum of understanding (MOU) with Pintu (Beijing) Information
Technology Co., Ltd., an indirect wholly-owned subsidiary of Dida
Inc. (HKEX: 2559), regarding a proposed investment of US$7.5
million in Uxin. The Investor intends to subscribe for 1.54 billion
Class A ordinary shares of the Company at a subscription price of
US$0.004858 per share (or US$1.4575 per ADS).

Additionally, the Investor has extended a loan of the RMB
equivalent of US$7.5 million to Youxin (Anhui) Industrial
Investment Co., Ltd., a wholly-owned subsidiary of Uxin. The
proposed investment is subject to the execution of definitive
agreements and the satisfaction of customary closing conditions.
This strategic investment marks an important step in strengthening
Uxin's financial position and supporting its future growth
initiatives.

Business Outlook:

For the three months ending September 30, 2024, the Company expects
its retail transaction volume to be within the range of 5,800 units
to 6,000 units. The Company estimates that its total revenues
including retail vehicle sales revenue, wholesale vehicle sales
revenue and other revenue to be within the range of RMB480 million
to RMB500 million. The Company expects its Non-GAAP adjusted EBITDA
to be less than a loss of RMB10 million. These forecasts reflect
the Company's current and preliminary views on the market and
operational conditions, which are subject to changes.

Mr. Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin,
commented, "We are pleased to deliver another quarter of strong
performance, with retail transaction volume reaching 4,090 units,
representing a 31% increase sequentially and a 142% increase
year-over-year. Our vehicle turnover efficiency remains healthy,
with inventory turnover days around 30. Alongside our robust sales
growth, customer satisfaction has also improved, as our Net
Promoter Score reached 65 during the quarter, the highest level in
the industry."

Mr. Dai continued, "Our integrated online and offline model
continues to demonstrate its strong competitiveness and growth
potential. We have already begun expanding our inventory, and we
expect sales to continue growing rapidly over the coming quarters.
In addition, we are actively expanding our network of superstores,
with a recent strategic partnership in Zhengzhou and ongoing
discussions with several other cities. This expansion will
significantly enhance Uxin's market presence in new regions,
driving continued sales growth and improving overall business
performance."

Mr. Feng Lin, Chief Financial Officer of Uxin, commented: "During
the quarter, our retail vehicle sales revenue totaled RMB325
million, reflecting a 74% year-over-year increase, while we
maintained a stable gross margin amid intense market competition.
At the same time, through disciplined cost control, we reduced our
adjusted EBITDA loss to RMB33.9 million, narrowing it by 27%
compared to the same period last year. Our business is now on a
rapid growth trajectory, and we expect our retail transaction
volume for the next quarter to be in the range of 5,800 to 6,000
units, representing over 40% sequential growth. We also expect to
further narrow our adjusted EBITDA loss to under RMB10 million for
the next quarter and remain confident in achieving EBITDA
profitability for the December quarter of 2024."

A full-text copy of the Company's report filed on Form 6-K with the
Securities and Exchange Commission is available at:

                  https://tinyurl.com/3dv3a9yz

                          About Uxin

Uxin is a China-based used car retailer, pioneering industry
transformation with advanced production, new retail experiences,
and digital empowerment. The Company offers vehicles through a
reliable, one-stop, and hassle-free transaction experience. Under
its omni-channel strategy, the Company is able to leverage its
pioneering online platform to serve customers nationwide and
establish market leadership in selected regions through offline
inspection and reconditioning centers.

Shanghai, China-based PricewaterhouseCoopers Zhong Tian LLP, the
Company's auditor since 2017, issued a "going concern"
qualification in its report dated July 31, 2024, citing that the
Company has incurred net losses since inception and, as of March
31, 2024, had an accumulated deficit and net current liability and
the Company incurred operating cash outflow during the fiscal year
ended March 31, 2024. These events and conditions raise substantial
doubt about its ability to continue as a going concern.

Uxin Limited reported a net loss of RMB369.54 million for the year
ended March 31, 2024, compared to a net loss of RMB137.17 million
for the year ended March 31, 2023.



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I N D I A
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AGNIPA ENERGO: Liquidation Process Case Summary
-----------------------------------------------
Debtor: Agnipa Energo Private Limited
        5th Floor, Shine Towers,
        Sati Jaimati Road Arya Chowk,
        P.O., Rehabari, Guwahati
        Pin: 781008 ASSAM
  
Liquidation Commencement Date: September 10, 2024

Court: National Company Law Tribunal, Guwahati Bench

Liquidator: Sudha Sarma
     Sudha and Associates
            185, MRD Road, Bamunimaidam,
            Guwahati-781021, ASSAM
            E-mail: Sudha.sarma@yahoo.com
            E-mail: liquidator.agnipa@gmail.com

Last date for
submission of claims: October 10, 2024


DEV KIRAN: CARE Keeps D Debt Ratings in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Dev Kiran
Paper Mills Private Limited (DKPMPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      26.22       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Long Term/           9.78       CARE D/CARE D; ISSUER NOT
   Short Term                      COOPERATING; Rating continues
   Bank Facilities                 to remain under ISSUER NOT
                                   COOPERATING category

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

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 14,
2023, placed the rating(s) of DKPMPL under the 'issuer
non-cooperating' category as DKPMPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. DKPMPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated June
29, 2024, July 9, 2024 and July 19, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Dev Kiran Paper Mills Private Limited was incorporated as a private
limited company in 1988 and is promoted by Mr. R. H. Sreenivasa
Setty, Mr. R. H. Ramakrishna Setty and Mr. R. H. Ramanuja Setty.
The company is engaged in manufacturing of
kraft paper such as corrugated media kraft paper, test liner,
absorbent kraft (used in decorative laminates), kraft liner, etc.
Its manufacturing facility is located at Bengaluru, Karnataka.

Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of DKPMPL into Issuer
Not Cooperating category vide press release dated August 23, 2023
on account of its inability to carry out a review in the absence of
requisite information.

DREAM WEAVER: CARE Moves D Debt Ratings to Not Cooperating
----------------------------------------------------------
CARE Ratings has migrated the rating on bank facilities of Dream
Weaver Private Limited (DWPL) to Issuer Not Cooperating category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       1.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating moved to ISSUER NOT
                                   COOPERATING category

   Short Term Bank      9.00       CARE D; ISSUER NOT COOPERATING;
   Facilities                      Rating moved to ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. has been seeking information from DWPL to monitor
the ratings vide email communications/letters dated September 9,
2024, September 16, 2024, among others and numerous phone calls.
However, despite repeated requests, the company has not provided
the requisite information for monitoring the ratings.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating. Further, DWPL has not paid the
surveillance fees for the rating exercise as agreed to in its
Rating Agreement. The rating on DWPL's bank facilities will now be
denoted as CARE D; ISSUER NOT COOPERATING.

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 take into account the on-going delay in debt servicing
of its term loan and Guaranteed Emergency Credit Line (GECL) loan
by the company due to stretched liquidity position.

Analytical approach: Standalone

Outlook: Not Applicable

Detailed description of key rating drivers:

At the time of last rating on September 14, 2023, the following
were the rating strengths and weaknesses (updated for the
information available from ROC and lender).

Key weaknesses

* Delay in term debt servicing: There are instances of delay in
debt servicing of term loan and GECL loan by the company on account
of stretched liquidity position.

Incorporated in 2006, DWPL is engaged in the manufacturing and
export of leather and leather products. The company deals in small
leather goods like wallets, belts, purses, key rings etc along with
ladies bag, handbags, laptop bags, brief cases, etc. The company
does contract manufacturing for brands like Samsonite, Pepe Jeans,
etc which eventually sells the products under their brand name. The
company had a manufacturing facility in Kolkata with an installed
capacity of 3,50,000 pcs per annum which has now been increased to
5,04,000 pcs per annum from January 2023, post shifting of the
facility to Bantala (West Bengal). The company fully exports its
products to the European countries like Italy, Spain, UK etc
through Air (80%) and Sea (20%). The dayto-day affairs of the
company are looked after by Rakesh Kumar Choubey, Director, along
with other director and a team of
experienced personnel.


ET PLANNERS: Voluntary Liquidation Process Case Summary
-------------------------------------------------------
Debtor: E T Planners Private Limited
N-110, Panchsheel Park, South Delhi,
        New Delhi, Delhi, India, 110017
  
Liquidation Commencement Date: September 11, 2024

Court: National Company Law Tribunal, New Delhi Bench

Liquidator: Ms. Sunita Umesh
     1315, Ansal Towers,
            38, Nehru Place,
            New Delhi-110019, India
     E-mail: vl.etppl2024@gmail.com
            Telephone: +91 124 4081898
            Mobile: +91 9810266702

Last date for
submission of claims: October 10, 2024


G S BIOTECH: Liquidation Process Case Summary
---------------------------------------------
Debtor: G S. Biotech Limited
Plot no. 22 & 23, G S Estates Adilabad,
        Telangana 504001, India
  
Liquidation Commencement Date: September 13, 2024

Court: National Company Law Tribunal, Hyderabad Bench

Liquidator: Chillale Rajesh
     B‐725, Western Plaza,
            O. U. Colony, H. S. Darga,
            Hyderabad 500 008 Telangana
            E-mail: chillalerajesh@yahoo.co.in
            E-mail: gsbiotech.cirp@gmail.com

Last date for
submission of claims: October 13, 2024


GIRIRAJ JEWELLERS: CARE Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Giriraj
Jewellers Private Limited (GJPL) continue to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       9.50       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      6.50       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 28,
2023, placed the rating(s) of GJPL under the 'issuer
non-cooperating' category as GJPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
GJPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated July 13, 2024, July
23, 2024, August 2, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Giriraj Jewellers Private Limited (GJPL) formerly known as Giriraj
Exports was incorporated in 1982 as partnership firm; later in 2004
it was converted into Private limited company by Mr. Rasik B Salla,
Mrs. Saroj Salla and Mr. Girish Salla. GJPL is engaged in to
manufacturing and trading of gold diamond jewellery such as chain,
necklace, ring, bracelets, bangles, earrings and various other
products and sell them to various jewellery retailers, wholesalers
and also walk in customers across India. GJPL has its processing
located in Mumbai, Maharashtra.

Status of non-cooperation with previous CRA: ICRA has continued the
rating assigned to the bank facilities of GJPL into Issuer Not
Cooperating category vide press release dated October 31, 2023 on
account of its inability to carry out a review in the absence of
requisite information.

GUARDIANS EMS: Voluntary Liquidation Process Case Summary
---------------------------------------------------------
Debtor: GUARDIANS EMS PRIVATE LIMITED
2nd Floor Backside Office
        No. 4 Plot No.27 Uggarsain Park,
        Dichaon Road, Najafgarh, South-West Delhi,
        Delhi, India, 110043

Liquidation Commencement Date: September 14, 2024

Court: National Company Law Tribunal, Bengaluru Bench

Liquidator: Ms. Srilakshmi Purushotham
            No. 41, Patalamma Temple Street,
            Basavanagudi, near South End Circle,
            Bengaluru - 560004, Karnataka, India
            E-mail: sri@gurujana.com
            Phone No: 080 42202020

Last date for
submission of claims: October 13, 2024

HALASIDHANATH SAHAKARI: CARE Cuts Rating on INR145cr LT Loan to C
-----------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Shree Halasidhanath Sahakari Sakhar Karkhana Limited (SHSSKL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      145.00      CARE C; Stable; Downgraded from
   Facilities                      CARE B; Stable

Rationale and key rating drivers

The revision in the rating assigned to the bank facilities of
SHSSKL takes into account the instances of penal charges observed
in the term loan statements. However, the cash credit limits rated
by CARE Ratings Limited (CARE Ratings) had no instances of delays
or overdrawals.

The rating continues to be constrained by the leveraged capital
structure, weak debt coverage indicators, working capital-intensive
nature of operations, and the cyclical and highly regulated nature
of the sugar industry. These rating weaknesses are partially offset
by SHSSKL's recent foray into ethanol division and the established
track record of the management.

Rating sensitivities: Factors likely to lead to rating actions

Positive factors

* Delay free track in repayment of all facilities on sustained
basis.

* Revenue of more than INR400 Cr with a PBILDT margin of more than
15%.

Negative factors

* Decline in revenue below INR150 Cr.

Analytical approach: Standalone

Outlook: Stable

CARE Ratings believes that the SPRM will continue to sustain its
scale of operation aided by long standing experience of its
promoters in the business.

Detailed description of key rating drivers:

Key weaknesses

* Instances of penal charges observed in the TL statements: As per
the TL statement for the period April 1, 2023, to March 31, 2024,
penal charges were observed due to delay in debt repayment.
However, the CC limits being rated by CARE Ratings had no instances
of delay or overdraw.

* Leveraged capital structure and weak coverage indicators: Weak
capital structure is marked by substantially high debt levels and
negative net worth on account of losses reported year on year. As
on March 31, 2019, the society's net worth was 5.38 crore which
eroded to negative INR140.96 Cr as on March 31, 2024. The interest
coverage ratio as of Mar 31, 2024, was below unity at 0.73x (PY:
0.61).

* Working capital intensive nature of operations: The crushing
happens for less than 4 months due to seasonality of sugarcane
production and the factories maintain inventory of finished goods
for the rest of the year. The society has an elongated inventory
holding period of 344 days and an operating cycle of 353 days as of
March 31, 2024. Such long inventory cycle is being funded by
working capital borrowing with the average utilisation for the
12-month period ended June 2024 being 77.51%. SHSSKL's current
ratio stood at 0.39x as on March 31, 2024.

* Cyclical and highly regulated industry: The entire value chain of
sugar industry is subject to control of the Government. Sugarcane,
the key raw material, prices of which is regulated by government
and also determined by volatility of market, makes the
profitability of sugar industries susceptible. Both the raw
material prices and distribution of end product (sugar) are
regulated by the government. In addition to this, sale
and distribution of by-products (molasses and power) also regulated
at different levels in different States. Sugar industry is also
impacted by vagaries of monsoon and prevailing agro climatic
condition. Integrated players are in a better position to counter
cyclicality of the sugar business. Further, cyclical nature of the
sugar industry significantly impacts the operating performance and
cash flow generation of the sugar companies.

Key strengths

* Satisfactory operational performance: SHSSKL recently improved
its capacity to 8,500 TCD for sugar, distillery capacity of 150
KLPD and co-generation of 15 MW. It has also reached an agreement
with BPCL for the sale of ethanol valid for ESY 23-24 to ESY
24-25.

Liquidity: Poor

Liquidity is poor, marked by weak current ratio, low quick ratio,
moderately high utilization of its working capital limits and
moderate cash accruals against high debt repayments resulting in
reliance on promoters' funds (call deposits) for debt repayment.
Its bank limits of INR145 crore were utilised at around 78% during
the last 12 months ending June 2024. It maintains a very high level
of inventory. Gross current asset days were very high at 401 days
on an average basis. Such a long inventory cycle is being funded by
working capital borrowing.

SHSSKL is a co-operative sugar society set up in 1987 under
Karnataka Co-operative Society Act 1956. SHSSKL is engaged in the
crushing of sugarcane and has a mill located at Nipani Taluk in
Belgaum dist, Karnataka. It has recently taken expansion and the
current capacity stands at 8,500 TCD for sugar, distillery capacity
of 150 KLPD and co-generation of 15 MW.



INDERJIT MARWAHA: CARE Lowers Rating on INR48cr LT Loan to B+
-------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Inderjit Marwaha Autos Private Limited (IMAPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      48.00       CARE B+; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Downgraded from CARE BB-;
                                   Stable

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 31,
2023, placed the rating(s) of IMAPL under the 'issuer
non-cooperating' category as IMAPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. IMAPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated July
16, 2024, July 26, 2024 and August 5, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

The ratings assigned to the bank facilities of IMAPL have been
revised on account of non-availability of requisite information.

Inderjit Marwaha Autos Pvt Ltd. was incorporated in August, 2020
and it started its operations in October 2020. The Company is an
authorized dealer for Maruti Suzuki India Limited. It deals in
Maruti Suzuki's ARENA and NEXA cars in Punjab state. The company
presently operates 5 ARENA showrooms and service centers across
Punjab in Jalandhar, Sultanpur, Begowal, Kapurthala Phagwada and 1
NEXA showroom in Jalandhar. Each of the dealership location is a 3S
facility (Sales, Service and Spare Parts) and has attached workshop
and stockyard.

Status of non-cooperation with previous CRA: Brickwork has
continued the rating assigned to the bank facilities of IMAPL into
Issuer Not Cooperating category vide press release dated July 8,
2024 on account of its inability to carry out a
review in the absence of requisite information.



JAGATH MILK: CARE Keeps C Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Jagath Milk
Dairy (JMD) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank        9.87      CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated September 14,
2023, placed the rating(s) of JMD under the 'issuer
non-cooperating' category as JMD had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
JMD continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated July 30, 2024,
August 9, 2024 and August 19, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Jagath Milk Dairy (JMD) was established in the year 2013.
Currently, the partners of the firm are Mr. Bhuma Jagath Vikhyath
Reddy and Ms. Bhuma Akkhila Priya (D/o. Mr Bhuma Nagi Reddy). The
firm is engaged in processing and trading of the milk and milk
products like Milk, Curd, and Butter Milk. The firm purchases the
milk from local traders and sells the products in Mahabunagar,
Kadapa, Anantapur Kurnool District.

JAIMAL SINGH: CARE Keeps B- Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Jaimal
Singh Satnam Singh (JSSS) continue to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.75       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated September 20,
2023, placed the rating(s) of JSSS under the 'issuer
non-cooperating' category as JSSS 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. JSSS
continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated August 5, 2024,
August 15, 2024 and August 25, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Jaimal Singh Satnam Singh (JSSS) was incorporated in 1995 and is
being managed by Mr. Ajinder Pal Singh (proprietor). The firm is
engaged in the manufacturing & selling of ladies dress material
under its own brand name 'R.Tex'.

KARAMHANS FOODS: CARE Keeps C Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Karamhans
Foods Private Limited (KFPL) continues to remain in the 'Issuer Not
Cooperating' category.

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

   Short Term Bank     10.00       CARE A4; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 14,
2023, placed the rating(s) of KFPL under the 'issuer
non-cooperating' category as KFPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
KFPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated June 29, 2024, July
9, 2024 and July 19, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Karamhans Foods Private Limited (KFPL), based in Samba (Jammu &
Kashmir), was incorporated in May 1995 as a private limited
company. However, the operations started in September 2002. The
company is currently being managed by Mr. Surinder Nath Jain, Mrs.
Susheela Jain, Mr. Sandeep Jain and Mr. Sujiv Jain. KFPL is engaged
in processing of dry fruits at its facility located in Samba, Jammu
& Kashmir. The company majorly deals in walnuts, almonds, raisins
and dry morels.

KUDU FABRICS: CARE Keeps B- Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Kudu
Fabrics (KF) continues to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      13.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated September 18,
2023, placed the rating(s) of KF under the 'issuer non-cooperating'
category as KF had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. KF continues to be
non-cooperative despite repeated requests for submission of
information through emails dated August 3, 2024, August 13, 2024
and August 23, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Kudu Fabrics (KF) is a partnership firm established in the year
1998. The firm is engaged in the manufacturing of fabric and
readymade garments for men and women at its manufacturing facility
located at Ludhiana, Punjab. Besides KF, the partners are also
involved in another group concern namely Kudu Industries Limited
engaged in the manufacturing of knitted fabric since 1990.


LIBRA AUTO: CARE Keeps D Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Libra Auto
Car Company Limited (LACL) continues to remain in the 'Issuer Not
Cooperating' category.

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

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 16,
2023, placed the rating(s) of LACCL under the 'issuer
non-cooperating' category as LACCL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. LACCL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated July
1, 2024, July 11, 2024 and July 21, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

LACCL was incorporated in 2005 and promoted by Mr Pavit Pal Singh,
Mr Kesar Singh and Mr Gurinderjit Singh. LACCL is an authorized
dealer of entire range of passenger vehicles (PV) of Maruti Suzuki
India Limited (MSIL). LACCL operates a 3S facility (Sales, Spares,
Service) coupled with sale and purchase of pre-owned cars (True
Value) and has its showroom located on Jalandhar Bypass, Ludhiana,
Punjab. The company also has one service station in Sanewal,
Ludhiana, Punjab. LACCL has three group concerns, namely, 'Libra
Auto &General Finance Limited', 'Libra Automobiles Private Limited'
and "Patiala Carrier". 'Libra Auto & General Finance Limited' is
engaged in auto and general finance business since 1994, whereas
both the other group concerns are engaged in transport business
since 1994.

Status of non-cooperation with previous CRA: BRICKWORK has
continued the ratings assigned to the bank facilities of LACCL into
'Issuer not-cooperating' category vide press release dated May 16,
2024 on account of non-availability of requisite
information from the company.


LOHIA AUTO: CARE Keeps B- Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Lohia Auto
Industries (LAI) continue to remain in the 'Issuer Not Cooperating'
category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      30.00       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated September 20,
2023, placed the rating(s) of LAI under the 'issuer
non-cooperating' category as LAI had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
LAI continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated August 5, 2024,
August 15, 2024 and August 25, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Lohia Auto Industries (LAI) is a partnership firm set up in 2008 by
Lohia and Gupta brothers. LAI is known for the launch of two models
of electric vehicles- OMA STAR & FAME in 2008 in the automobile
industry, manufacturing unit being at Kashipur,
Uttarakhand. Later, the firm has also forayed into 3W segment with
its brand of electric and diesel three wheelers. Their range of
three-wheeler consists of electric three-wheeler – HUMRAHI,
NARAIN and diesel three-wheeler-HUMSAFAR. At present, Ayush Lohia
is the CEO of LAI, having total experience of more than 15 years in
business domain.

MAHANAGAR TELEPHONE: SBI Classifies Account as NPA After Default
----------------------------------------------------------------
CNBC-TV18 reports that state-run telecom company Mahanagar
Telephone Nigam Ltd. (MTNL) has defaulted on a loan payment to the
State Bank of India (SBI), prompting the bank to classify the
account as a Non-Performing Asset (NPA).

In a letter to MTNL, disclosed in an exchange filing by the telecom
company, SBI stated that the loan instalment and interest payment
for the term loan, which became overdue on June 30, 2024, remained
unpaid for over 90 days, resulting in the downgrade to
"sub-standard" effective Sept. 28, 2024, CNBC-TV18 relates.

CNBC-TV18 had previously reported that banks, including SBI, were
set to downgrade the MTNL account in the September quarter. As of
Sept. 30, 2024, SBI's total outstanding exposure to MTNL stood at
INR325.52 crore, with INR281.62 crore overdue. SBI has demanded
immediate payment to regularize the account.

Earlier, Union Bank of India, Bank of India, and Punjab National
Bank had also downgraded MTNL's account to the non-performing asset
category, CNBC-TV18 notes. MTNL had proposed a repayment plan to
settle approximately 40% of its outstanding dues, indicating a 60%
haircut, but its lenders rejected this in June.

While lenders have shown a willingness to explore restructuring
options, including a debt-to-equity conversion, they have firmly
ruled out accepting a haircut, as indicated by multiple banks to
CNBC-TV18.

SBI has now warned MTNL that if the overdue payments are not
cleared, it may have to take legal action to recover the dues. "In
case of default of payment within the period stipulated above, the
bank will be constrained to institute legal proceedings for the
recovery of the entire loan along with interest and take such other
steps as may be available to the bank, including enforcement of
securities, without any further reference to you in the matter and
entirely at your costs and consequences," the letter, as cited by
CNBC-TV18, stated.

SBI has raised concerns about MTNL's ability to meet its financial
obligations, particularly in light of media reports suggesting that
the government may intervene to clear MTNL's dues. The bank is
awaiting clarification from MTNL regarding the status of the term
loan facility, given these reports and the Department of
Telecommunications (DoT) statement that MTNL would avoid default,
CNBC-TV18 relays.

Additionally, SBI has sought updates from MTNL on its land
monetisation plan, which was recently submitted with year-wise cash
flow projections. MTNL has signed a memorandum of understanding
(MoU) with the National Buildings Construction Corporation (NBCC)
to jointly develop a 13.88-acre land parcel on Pankha Road, New
Delhi, into residential and commercial spaces. SBI has requested
details on the MoU and whether the proceeds from this project will
be used to settle the outstanding loan.

CNBC-TV18 adds that the bank also noted that MTNL has yet to
respond to SBI's earlier letter, dated Aug. 14, 2024, regarding
amounts receivable from Bharat Sanchar Nigam Limited (BSNL) under
the "other financial assets" category.

SBI has urged MTNL to prioritise the overdue payments, warning that
legal proceedings for loan recovery could be initiated if the
default continues.

MTNL was incorporated by GoI in 1986 to upgrade the quality of
telecom services, expanding telecom network, and introducing new
services for India's key metros, Delhi and Mumbai. MTNL was given
the 'Navratna' status in 1997 and was listed on the New York Stock
Exchange in 2001. MTNL provides a host of telecom services that
include fixed telephone service, GSM, Internet, Broadband, ISDN,
and leased line services.


MAHAVEERJI POLYFAB: CARE Keeps B- Debt Rating in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shree
Mahaveerji Polyfab Private Limited (SMPPL) continues to remain in
the 'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      11.02       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 16,
2023, placed the rating(s) of SMPPL under the 'issuer
non-cooperating' category as SMPPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. SMPPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated July
1, 2024, July 11, 2024 and July 21, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Kanpur (Uttar Pradesh)-based Shree Mahaveerji Polyfab Private
Limited (SMPPL) was established in 2012 by Mr Mohit Jain, Mr
Krishna Murari Jain, Mr Arpit Agarwal, Mr Bhart Tibrewal, Mr
Prateek Bhartiya, Mrs Chandni Tibrewaland SMPPL commenced its
operations from FY14. SMPPL is engaged in business of manufacturing
of PP fabrics as well as PP fabric bag.


MEDIPARK HEALTHCARE: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Medipark
Healthcare Private Limited (MHPL) continues to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       8.80       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated July 19, 2023,
placed the rating(s) of MHPL under the 'issuer non-cooperating'
category as MHPL had failed to provide information for monitoring
of the rating as agreed to in its Rating Agreement. MHPL continues
to be non-cooperative despite repeated requests for submission of
information through e-mails dated June 3, 2024, June 13, 2024, June
23, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Medipark Healthcare Private Limited (MHPL) was incorporated in
December 2015 by Mr. Avinash Kumar Singh, Dr. Anil Kumar, Dr.
Shashat Kumar and Dr. AnnuBabu as a multi-specialty hospital in
Patna, Bihar. However, the hospital has started its commercial
operation from November 2017. Currently, the hospital is running
with 100 beds which consists of 12 Intensive Coronary Care Unit
(ICCU) beds, 13 deluxe beds, 11 dialysis beds, 6 emergency beds, 26
Intensive Care Unit(ICU), 7 labour beds, 11 High Dependency
Unit(HDU) and 14 general beds. The hospital is equipped with state
of the art technology and well qualified & experienced doctors,
surgeons and support staffs. The hospital has radiology, urology,
CT Scan, dental care unit, Neurology, Nephrology, Cardiology and
dermatologist unit.

Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of MHPL into ISSUER NOT
COOPERATING category vide press release dated August 30, 2024 on
account of its inability to carry out a review in the absence of
requisite information from the company.

PANKAJ ISPAT: CARE Keeps B- Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Pankaj
Ispat Limited (PIL) continues to remain in the 'Issuer Not
Cooperating' category.

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

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated July 20, 2023,
placed the rating(s) of PIL under the 'issuer non-cooperating'
category as PIL had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. PIL continues to
be non-cooperative despite repeated requests for submission of
information through e-mails dated June 4, 2024, June 14, 2024, June
24, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

PIL was originally set up in 2006 as a Private Limited company
(Pankaj Ispat Private Limited) which was reconstituted as a public
limited company on October 05, 2011. PIL commenced its production
in 2007-08. The manufacturing facility of the company is located in
Gogaon Industrial Area, Raipur.

PARATUS REAL: ICRA Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------
ICRA has kept the Long-Term ratings of Paratus Real Estates Pvt.
Ltd. (PREPL) in the 'Issuer Not Cooperating' category. The rating
is denoted as [ICRA]D; ISSUER NOT COOPERATING.

                     Amount
   Facilities     (INR crore)   Ratings
   ----------     -----------   -------
   Long-term-        18.00      [ICRA]D; ISSUER NOT COOPERATING;
   Fund based                   Rating Continues to remain under
   Term Loan                    'Issuer Not Cooperating'
                                Category

As part of its process and in accordance with its rating agreement
with PREPL, 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. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.

PREPL is a private limited company incorporated on May 4, 2013. It
is a Special Purpose Vehicle (SPV) for constructing and developing
'Mega County', a Residential Project in Dehradun, Uttarakhand. The
Earthcon group through its flagship company, Earthcon Constructions
Private Limited, has 50.74% stake in the SPV. The balance stake of
49.26% is held by I.S.P. Constructions Private Limited.


PUNJABI UNIVERSITY: ICRA Lowers Rating on INR120cr LT Loan to B+
----------------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Punjabi
University, Patiala, as:

                     Amount
   Facilities      (INR crore)     Ratings
   ----------      -----------     -------
   Long Term-         120.00       [ICRA]B+ (Stable) ISSUER NOT
   Fund-based-                     COOPERATING; Rating downgraded
   Term loan                       from [ICRA]BB (Stable) and
                                   continues to remain in the
                                   'Issuer Not Cooperating'
                                   Category

Rationale

The rating downgrade is attributable to the lack of adequate
information regarding Punjabi University, Patiala performance and
hence the uncertainty around its credit risk. ICRA assesses whether
the information available about the entity is commensurate with its
rating and reviews the same as per its "Policy in respect of
non-cooperation by a rated entity" available at www.icra.in. The
lenders, investors and other market participants are thus advised
to exercise appropriate caution while using this rating, as the
rating may not adequately reflect the credit risk profile of the
entity, despite the downgrade."

As part of its process and in accordance with its rating agreement
with Punjabi University,Patiala, 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. Despite multiple
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.

Punjab Assembly established Punjabi University, Patiala under the
Punjab Act No. 35 of 1961. Dr. S. Radhakrishnan, the then President
of India laid foundation of Punjabi University on June 24, 1962.
Established in the erstwhile princely state of Patiala with the
main objective of furthering the cause of Punjabi language, art and
literature, Punjabi University has since evolved into the largest
University in the state. Its vision was to establish and
incorporate a University for the advancement of Punjabi studies and
development of Punjabi language as a medium of instruction or
otherwise for providing instruction in humanistic and scientific
subjects and generally for the promotion of education and research.
The University started working from its present 316 acres campus
since 1965.

Initially University's jurisdiction area was fixed as the 16-km
radius having only 9 colleges. In 1969, it grew into an affiliating
university, with 43 colleges affiliated to it. Now the university
caters to the educational needs of nine Districts of Punjab. Over
the time since its inception, the University has evolved into a
multi-faceted and multi-faculty educational institution for the
promotion of higher education and research in Humanities, Arts,
Sciences, Engineering Languages, Technology and many more. Spread
over 600 acres of land, its 1000+ teachers are imparting
instruction and guidance to nearly 35,000+ students in a
multi-faculty environment comprising 70+ Teaching and Research
Departments/Chairs on its Campus, 27 Regional Centre/ Neighborhood
Campuses/Constituent Colleges and 274 Colleges affiliated to it.


RADIANT ROCKS: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Radiant
Rocks Private Limited (RRPL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       6.15       CARE B-; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 25,
2023, placed the rating(s) of RRPL under the 'issuer
non-cooperating' category as RRPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
RRPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated July 10, 2024, July
20, 2024 and July 30, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Udaipur (Rajasthan) based Radiant Rocks Private Limited (erstwhile
Jaibalajee Marmograini Private Limited) was incorporated in
September, 2017 by Mr. Sudhir Sharan and Mr. Hardev Sahu. JMPL was
incorporated with an aim to set up a processing unit for processing
of marbles and granites blocks.

Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of RRPL under Issuer Not
Cooperating category vide press release dated September 20, 2023 on
account of its inability to carry out a review in the absence of
the requisite information from the company.


RAMSONS ORGANICS: CARE Keeps C Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ramsons
Organics Limited (ROL) continues to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       5.14       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

Rationale & Key Rating Drivers

CARE Ratings Ltd. had, vide its press release dated August 9, 2023,
placed the rating(s) of ROL under the 'issuer non-cooperating'
category as ROL had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. ROL continues to
be non-cooperative despite repeated requests for submission of
information through e-mails dated June 24, 2024, July 4, 2024 and
July 14, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Ramsons Organics Limited (ROL) was incorporated in 1993 and
promoted by Mr. Yogesh Sachdeva primarily with the objective of
exporting building stones overseas. ROL is the flagship company of
Ramsons Group which is involved in varied business segments like
real estate development, Building stones, Home décor and Renewable
energy through different group companies.



RISHU CONSTRUCTION: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Rishu
Construction Infratech India Private Limited (RCIIPL) continue to
remain in the 'Issuer Not Cooperating' category.

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

   Long Term/          16.00       CARE D/CARE D; ISSUER NOT
   Short Term                      COOPERATING; Rating continues
   Bank Facilities                 to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 21,
2023, placed the rating(s) of RCIIPL under the 'issuer
non-cooperating' category as RCIIPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. RCIIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated July
6, 2024, July 16, 2024 and July 26, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Analytical approach: Standalone revised from combined

CARE had considered the combined approach for Rishu Construction
Infratech India Private Limited and M/s. Rishu Construction,
factoring in the operational and financial synergies between group
entities since these entities are controlled by common promoter
with cash flow fungibility among the group entities and similar
line of business. However, updated information is not available to
ascertain financial linkages that warrant a continuation of
combined approach.

Lucknow based, Rishu Construction Infratech India Private Limited
(RCIIPL) is incorporated in April 2019. Earlier it was a
partnership firm in the name of Rishu Construction. On, September
2020 RCIIPL has taken over the activities of the firm. The
company is currently being managed by Mr. Akhilesh Kumar Singh and
Shivansh Singh. The company is engaged in construction work such as
roads and bridges in Uttar Pradesh for state and Central government
bodies, including infrastructure development authorities, PWDs,
irrigation departments and national highways.

Status of non-cooperation with previous CRA: Brickwork has
continued the rating assigned to the bank facilities of RCIIPL
under Issuer Not Cooperating category vide press release dated May
6, 2024 on account of its inability to carry out a review in the
absence of the requisite information from the company.

SAI BALAJI: CARE Keeps C Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Sai Balaji
Constructions (SBC) continue to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank       4.00       CARE C; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category  

   Short Term Bank      3.00       CARE A4; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated September 13,
2023, placed the rating(s) of SBC under the 'issuer
non-cooperating' category as SBC had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
SBC continues to be non-cooperative despite repeated requests for
submission of information through emails dated July 29, 2024,
August 8, 2024 and August 18, 2024, among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Andhra Pradesh based, Sai Balaji Constructions (SBC) was
established as a partnership firm in the year 2007 and promoted by
Mr. Maramreddy Satish Reddy and Mrs. Maramreddy Hymavathamma. The
firm is engaged in civil constructions works like construction of
roads for state government of Andhra Pradesh and private
organizations also. The firm receives the work order from
government organization by participating in the tenders. The firm
purchases the raw materials like metal, cement and bitumen among
others from local traders of Andhra Pradesh.


SANGHAVI JEWEL: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Sanghavi
Jewel Private Limited (SJPL) continue to remain in the 'Issuer Not
Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      78.71       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

   Short Term Bank      1.00       CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 28,
2023, placed the rating(s) of SJPL under the 'issuer
non-cooperating' category as SJPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
SJPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated July 13, 2024, July
23, 2024 and August 2, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Sanghavi Jewel Pvt Ltd. (SJPL) is a part of the Sanghavi Group,
headed by Mr. Jayesh Sanghavi who is the Managing Director.
Sanghavi Exports International Pvt Ltd (SEIPL) (rated CARE D;
Issuer Not Cooperating), the flagship company of the group,
holds 91.02% shares in SJPL. SEIPL is engaged in the processing of
rough diamonds and export of cut and polished diamonds. SJPL is
engaged in the manufacturing and export of studded gold, silver and
platinum jewellery using polished diamonds, precious and other
semi-precious stones.

SARE REALTY: Liquidation Process Case Summary
---------------------------------------------
Debtor: SARE REALTY PROJECTS PRIVATE LIMITED

Registered Office:
        6, 383C Bank Street,
        Munirka, New Delhi - 110067

        Project Office:
       'Sare Meadowvillte', Old GST Road,
        Kolatthur Village, Singaperumal Koil,
        Chengalpattu, Kancheepuram District,
        Tamilnadu
   
Liquidation Commencement Date: September 9, 2024

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

Liquidator: Santanu Kumar Samanta
     C-170, Golf View Apartments,
            Saket Delhi-110017
            Email: santanukumar@yahoo.com

            Immaculate Resolution Professionals Private Limited,
            Unit No. 112, First Floor, Tower-A,
            Spazedge Commercial Complex,
            Sector-47, Sohna Road, Gurgaon-122018
            E-mail:cirpsrppl@gmail.com

Last date for
submission of claims: October 9, 2024


SHRIVALLABH PITTIE: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shrivallabh
Pittie Industries Limited (SPIL) continues to remain in the 'Issuer
Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      331.79      CARE D; ISSUER NOT COOPERATING
   Facilities                      Rating continues to remain
                                   under ISSUER NOT COOPERATING
                                   category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 17,
2023, placed the rating(s) of SPIL under the 'issuer
non-cooperating' category as SPIL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
SPIL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated July 2, 2024, July
12, 2024 and July 22, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

ShriVallabh Pittie Industries Ltd (SPIL) is a Special Purpose
Vehicle (SPV) formed by ShriVallabh Pittie Group for setting up a
100,000-spindle yarn manufacturing unit at Jhalawar, Rajasthan. The
project got commissioned on July 22, 2016. The Group is
presently spearheaded by Mr Chirag Pittie. ShriVallabh Pittie Group
has a presence in the industry with manufacturing capacity of
101,000 spindles in sister concern Platinum Textiles Ltd is engaged
in the business of manufacturing of cotton, polyester and polyester
& cotton blended yarn. Besides, PTL also uses another 112,000
spindles on job-work/lease basis mainly in the state of Tamil
Nadu.

Status of non-cooperation with previous CRA: Infomerics has
continued the rating assigned to the bank facilities of SPIL into
Issuer Not Cooperating category vide press release dated September
28, 2023 on account of its inability to carry out a review in the
absence of requisite information.

SPICEJET: Clears 4-Month Pending Salary of Staff and GST Dues
-------------------------------------------------------------
Livemint.com reports that debt-ridden domestic airline SpiceJet,
which recently raised INR3,000 crore, on October 4, said it had
cleared all pending salaries of its employees and goods and
services tax (GST) payments and also deposited ten months' worth of
provident fund (PF) dues.

Livemint.com relates that an airline spokesperson said that within
the first week of raising fresh funds, it had cleared all pending
salaries and GST dues and made significant progress by depositing
ten months' PF dues. The process of clearing other outstanding dues
is ongoing, the spokesperson said in a statement. Among other
efforts, the airline has settled with various aircraft lessors.

To be sure, SpiceJet had cleared all pending salaries a week ago,
much to the relief of its workforce, ahead of the festive season.
Along with employee dues, the airline has cleared outstanding GST
payments, signalling a broader effort to rectify its financial
standing, Livemint.com relays.

Employees are now relieved, re-energised, and ready to resume their
roles with optimism, hoping to see the airline reclaim its foothold
in the sector. "I am still in shock! Getting four months' salary in
the last five days was unexpected. It's like Diwali came early!"
Livemint.com quotes Vishnu Prasad, an executive at the reservations
department, as saying.

"I was worried about my family's future. I am so happy that the
management has kept its word. We were promised all dues would be
cleared by September 30, but they had already done it. I am proud
to be part of this team!" Manish Kumar, a security staff told news
agency ANI, notes the report.

An airport staff member, Deepak Singh, who was still processing the
sudden shift, told ANI, "I honestly couldn't believe it when I saw
my account. Three months of salary paid in one go and then getting
my September salary on time, it's a huge relief."

With plans to introduce new aircraft, expand its routes, and
restore its network, SpiceJet is signalling its intent to regain a
stronger position in the competitive aviation market, Livemint.com
says. These developments occurred after the airline raised INR3,000
crore through a Qualified Institutional Placement (QIP).

On Sept. 23, the airline announced it would raise funds through a
QIP of shares, Livemint.com recalls. The QIP attracted diverse
top-tier institutional investors and funds, including marquee names
such as Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual
Fund, and Discovery Global Opportunity Ltd.

                           About Spicejet

SpiceJet Limited -- http://www.spicejet.com/-- is an India-based
low-budget air carrier.  The Company operates daily flights between
major cities in India. The carrier is India's second-biggest budget
airline, after IndiGo.

SpiceJet has faced a series of insolvency pleas from various
parties in the National Company Law Tribunal (NCLT) over pending
dues. These include Wilmington Trust SP Services (Dublin), Willis
Lease Finance, Celestial Aviation, Aircastle (Ireland) Ltd, and
Alterna Aircraft and AWAS entities from Ireland.

The NCLT has already rejected the pleas of Willis Lease Finance and
Wilmington Trust SP, while SpiceJet reached a settlement with
Celestial Aviation, according to Livemint.com.

As reported in the Troubled Company Reporter-Asia Pacific in late
March 2024, Moneycontrol said Alterna Aircraft BV Limited on March
18 withdrew its insolvency plea against SpiceJet at the NCLT. The
lessor plans to fight the same at an appropriate forum.

The plea of Aircastle is still pending.

Both Wilmington Trust and Willis Lease Finance have moved the
National Company Law Appellate Tribunal (NCLAT) challenging the
dismissal of their insolvency plea by NCLT, the Economic Times
said.

SUBHLENE FABRICS: CARE Lowers Rating on INR10cr LT Loan to D
------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Subhlene Fabrics (SF), as:

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

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated July 19, 2024,
placed the rating(s) of SF under the 'issuer non-cooperating'
category as SF had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. SF continues to be
non-cooperative despite repeated requests for submission of
information through e-mail dated September 25, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

The ratings have been revised on account of non-availability of
requisite information. The rating revision also considers instances
of delays in debt servicing as recognized from publicly available
information i.e. CIBIL filings made by the lender.

Established in 2001 by proprietor Mr. Mahesh Gupta, Subhlene
Fabrics (SF) is engaged into manufacturing of polyester viscose
(PV) fabric at its plant in Silvassa, Gujarat. The entity also does
trading of polyester viscose (PV).

Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of SF into Issuer Not
Cooperating category vide press release dated September 24, 2024 on
account of its inability to carry out a review in the absence of
requisite information.


SUNGLOW SUITINGS: CARE Lowers Rating on INR10cr LT Loan to B
------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Sunglow Suitings Private Limited (SSPL), as:

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term Bank      20.30       CARE B; Stable; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category and
                                   Downgraded from CARE B+; Stable

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 24,
2023, placed the rating(s) of SSPL under the 'issuer
non-cooperating' category as SSPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
SSPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated July 9, 2024, July
19, 2024 and July 29, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

The ratings have been revised on account of non-availability of
requisite information.

Bhilwara (Rajasthan) based Sunglow Suitings Private Limited (SSPL)
is promoted by Mr. Mahesh Kumar Hurkat and Mr Meghraj Baheti in
2005. SSPL is mainly engaged in the manufacturing of synthetic
fabric and synthetic yarn for own sales as well as on job work. The
manufacturing facility of SSPL is situated at Bhilwara.

Status of non-cooperation with previous CRA: ICRA has continued the
rating assigned to the bank facilities of SSPL under Issuer Not
Cooperating category vide press release dated December 29, 2023 on
account of its inability to carry out a review in the absence of
the requisite information from the company.

TECHNO SATCOMM: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Techno
Satcomm India Private Limited (TSIPL) continue to remain in the
'Issuer Not Cooperating' category.

                       Amount
   Facilities       (INR crore)    Ratings
   ----------       -----------    -------
   Long Term/          14.00       CARE D/CARE D; ISSUER NOT
   Short Term                      COOPERATING; Rating continues
   Bank Facilities                 to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 28,
2023, placed the rating(s) of TSIPL under the 'issuer
non-cooperating' category as TSIPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. TSIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated July
13, 2024, July 23, 2024 and August 2, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Techno Satcomm (India) Private Limited (TSIPL) was incorporated in
year 2008 by Dave Family. The company was formerly known as Techno
Com Inc started in August, 2005 and later incorporated to Private
Limited in January, 2008. Currently Mr. Jay Dave, Mr. Nirav Dave
and Mr. Jagdip Rana are directors of the company. The company is
engaged in providing services of RFID solutions, IP based PA
systems, WIFI solutions, CCTV Surveillance, Black Box in trains,
Network Infrastructure, Captive portal and Biometric solutions.
TSIPL has registered office in Mumbai and branches in Delhi and
Kolkata.

Status of non-cooperation with previous CRA: CRISIL has continued
the rating assigned to the bank facilities of TSIPL into Issuer Not
Cooperating category vide press release dated January 17, 2024 on
account of its inability to carry out a review in the absence of
requisite information.


TOKAI ENGINEERING: CARE Keeps C Debt Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Tokai
Engineering Private Limited (TEPL) continue to remain in the
'Issuer Not Cooperating' category.

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

   Short Term Bank      1.00       CARE A4; ISSUER NOT
   Facilities                      COOPERATING; Rating continues
                                   to remain under ISSUER NOT
                                   COOPERATING category

Rationale and key rating drivers

CARE Ratings Ltd. had, vide its press release dated August 25,
2023, placed the rating(s) of TEPL under the 'issuer
non-cooperating' category as TEPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
TEPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated July 10, 2024, July
20, 2024 and July 30, 2024 among others.

In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.

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

Gurgaon (Haryana) based TEPL was incorporated on July 9, 2006. The
company is currently being managed by Mr. Rajesh Khanna and Mrs.
Shilu Khanna. TEPL is engaged in manufacturing of jigs and
fixtures, testing machines, and special purpose machines. It mainly
caters to automobile companies. Its manufacturing facility is
located in Manesar, Gurgaon (Haryana). The major raw materials of
the company are MS Steel, cylinders, pneumatic items like
compressor etc which it procures from domestic manufacturers and
wholesalers.

Status of non-cooperation with previous CRA: CRISIL has continued
the ratings assigned to the bank facilities of TEPL into 'Issuer
not-cooperating' category vide press release dated December 27,
2023 on account of non-availability of requisite information from
the company.

UNIVERSAL INDIA: ICRA Keeps B Debt Rating in Not Cooperating
------------------------------------------------------------
ICRA has kept the Long-Term rating of Universal India Agro Foods
(UIAF) in the 'Issuer Not Cooperating' category. The rating is
denoted as [ICRA]B (Stable); ISSUER NOT COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Long Term-          5.00       [ICRA]B (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Cash Credit                    to remain under 'Issuer Not
                                  Cooperating' category

As part of its process and in accordance with its rating agreement
with UIAF, 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. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

UIAF was incorporated in 2013 and currently operates a rendering
plant in Meerut. The unit was commissioned in FY2014 and produces
Tallow and Meat and Bone Meal (MBM) from animal waste. The unit
procures animal waste such as bones, fat, and offal from slaughter
houses and produces Tallow which finds usage in soap manufacturing,
lubricants etc. and MBM which is used in cattle/poultry feed. The
company is promoted by Mr. Haji Aas Mohd and Mrs. Shabana Parveen.
The promoter's family has been engaged in trading of meat products
in the unorganized sector for past several years.


VATSAL CONSTRUCTION: ICRA Keeps B+ Debt Rating in Not Cooperating
-----------------------------------------------------------------
ICRA has kept the Long-Term and Short-Term ratings of Vatsal
Construction Co. (VCC) in the 'Issuer Not Cooperating' category.
The rating is denoted as [ICRA]B+(Stable)/[ICRA]A4; ISSUER NOT
COOPERATING".

                      Amount
   Facilities      (INR crore)    Ratings
   ----------      -----------    -------
   Short Term-        18.50       [ICRA]A4 ISSUER NOT
   Non Fund Based                 COOPERATING; Rating continues
   Others                         to remain under 'Issuer Not
                                  Cooperating' category

   Long Term-          1.00       [ICRA]B+ (Stable) ISSUER NOT
   Fund Based-                    COOPERATING; Rating continues
   Cash Credit                    to remain under 'Issuer Not
                                  Cooperating' category

As part of its process and in accordance with its rating agreement
with VCC, 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. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.

VCC was established as a proprietorship concern in 2012 by Mr.
Hitesh Gaudani and is engaged in the construction and strengthening
of roads and buildings for government and semi-government entities.
VCC is a government approved contractor having a 'AA' class (roads
and buildings works) certification in Gujarat. The firm is based in
Ahmedabad (Gujarat) and has executed various projects in Gujarat,
Madhya Pradesh and Rajasthan.


WELKIN IT: Liquidation Process Case Summary
-------------------------------------------
Debtor: Welkin IT Services Private Limited
Office No. 20, Plot No. 36/37
        SR No. 101/1/1, N R U.
        Bhandari Mercedes Showroom, Baner, Pune,
        Maharashtra, India, 411045

Liquidation Commencement Date: September 5, 2024

Court: National Company Law Tribunal, Mumbai Bench

Liquidator: Rajendra Kishanrao Joshi
     "Sanjana" Building, Building No 10
             Flat No 7, Hinghe Khurd
             Pune Maharashtra 411051
             E-mail: rajendrajoshi_cs@yhaoo.com
             E-mail: irpwelkin@gmail.com

Last date for
submission of claims: October 5, 2024



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

ASPIRE WANAKA: Court to Hear Wind-Up Petition on Oct. 10
--------------------------------------------------------
A petition to wind up the operations of Aspire Wanaka Limited will
be heard before the High Court at Dunedin on Oct. 10, 2024, at
10:00 a.m.

The Commissioner of Inland Revenue, filed the petition against the
company on Aug. 7, 2024.

The Petitioner's solicitor is:

          David Tasker
          Inland Revenue, Legal Services
          PO Box 1782
          Christchurch 8140


CONSULATE GROUP: Court to Hear Wind-Up Petition on Oct. 17
----------------------------------------------------------
A petition to wind up the operations of The Consulate Group 2018
Limited will be heard before the High Court at Whanganui on Oct.
17, 2024, at 9:30 a.m.

The Commissioner of Inland Revenue filed the petition against the
company on Aug. 14, 2024.

The Petitioner's solicitor is:

          Tara Nicola Carr
          Legal Services
          Asteron Centre
          55 Featherston Street
          PO Box 895
          Wellington


DMGTILING LIMITED: Creditors' Proofs of Debt Due on Oct. 30
-----------------------------------------------------------
Creditors of Dmgtiling Limited, Mo Bathrooms Limited and Mo Tiles
Limited are required to file their proofs of debt by Oct. 30, 2024,
to be included in the company's dividend distribution.

The company commenced wind-up proceedings on Sept. 30, 2024.

The company's liquidator is:

          Brenton Hunt
          PO Box 13400
          City East
          Christchurch 8141


RURAL RPM: Creditors' Proofs of Debt Due on Nov. 14
---------------------------------------------------
Creditors of Rural RPM Limited are required to file their proofs of
debt by Nov. 14, 2024, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on Oct. 1, 2024.

The company's liquidator is:

          Lynda Smart
          Rodgers Reidy
          PO Box 39090
          Harewood
          Christchurch 8545


TWOPOINTZERODESIGN LTD: Creditors' Proofs of Debt Due on Nov. 15
----------------------------------------------------------------
Creditors of TwoPointZeroDesign Limited, Lush Hair and Makeup
Limited, KB Roofing Limited, Party Place Limited and Playball
Auckland City Limited are required to file their proofs of debt by
Nov. 15, 2024, to be included in the company's dividend
distribution.

TwoPointZeroDesign Limited commenced wind-up proceedings on Sept.
24, 2024.

Lush Hair and Makeup Limited commenced wind-up proceedings on Sept.
30, 2024.

KB Roofing Limited, Party Place Limited, and Playball Auckland City
Limited commenced wind-up proceedings on Oct. 1, 2024.

The company's liquidators are:

          Derek Ah Sam
          Paul Vlasic
          Rodgers Reidy (NZ) Limited
          Licensed Insolvency Practitioners
          PO Box 45220
          Te Atatu
          Auckland 0651





===============
P A K I S T A N
===============

PAKISTAN CRICKET: No Salary for Cricketers From Last 4 Months
-------------------------------------------------------------
Zee News reports that the Pakistan Cricket Board (PCB) finds itself
embroiled in yet another controversy, as reports surface about
players not receiving their monthly salaries for the past four
months. Adding to an already tumultuous year, this financial
uncertainty has led to growing frustration among the cricketers.
Zee News says the situation raises concerns about the PCB's
management, financial stability, and the impact it could have on
the team's morale ahead of crucial international tournaments.

According to Cricket Pakistan, the delay in payments stretches from
July to October 2024, Zee News relays. Players, including prominent
figures like Babar Azam, Mohammad Rizwan, and Shaheen Shah Afridi,
have not received their contractual salaries during this period.
Despite repeated reminders to the PCB, there seems to be little
clarity on when the payments will be made. This financial strain
has left the players in limbo, adding to the pressure of navigating
an already challenging cricket season.

Zee News relates that one player, who wished to remain anonymous,
expressed his discontent, stating that the board's indecisiveness
on central contracts and payment delays is affecting the entire
team. "We have been patient, but it's tough to focus on the game
when you don't know when your next paycheck is coming," he shared.

According to Zee News, the PCB's financial troubles are not just
confined to player salaries. The board has also failed to clear
dues related to sponsorship logos on players' jerseys. These delays
have further aggravated the situation, leaving players questioning
the board's financial health. Speculations abound about whether the
PCB is facing liquidity issues, especially after it reversed
earlier decisions to reduce player compensations from their central
contracts.

In 2023, the PCB had negotiated a central contract system designed
to last until 2026, which included a three percent share from the
International Cricket Council (ICC) revenues, in addition to
enhanced salaries, Zee News recalls. However, a year into this
agreement, the board's mismanagement has led to delays, leaving
players and fans alike wondering about the PCB's stability.

Adding to the team's struggles, Pakistan's captain Babar Azam has
stepped down from his leadership role in white-ball cricket,
according to Zee News. Though his decision was reportedly based on
personal reasons and the team's poor performance in the recent ICC
tournaments, the timing aligns with the growing unrest over unpaid
dues. Many speculate that financial frustrations might have
contributed to the captain's decision.

With less than six months to go before the Champions Trophy 2025,
the PCB is scrambling to restore unity and stability in the team,
Zee News notes. A fresh round of fitness tests has been introduced,
with the PCB Chairman, Mohsin Naqvi, asserting that no player will
be given a contract without clearing these assessments. However,
this decision has only added to the players' stress, who feel
undervalued by the board's stringent measures during such a
sensitive time.

Zee News says the uncertainty surrounding payments and leadership
changes has undoubtedly taken a toll on the team's morale.
Pakistan, a team known for its fighting spirit, is now battling
challenges both on and off the field. The ongoing crisis comes on
the heels of the team's poor performance in the T20 World Cup 2024,
where Pakistan failed to make an impact, further amplifying the
pressure on the PCB to get its act together.

Fans have expressed their frustration on social media, with many
questioning the PCB's handling of both player welfare and the
team's overall direction, Zee News reports.  

The Pakistan Cricket Board (PCB), formerly known as Board of
Control for Cricket in Pakistan, is a sports governing body for
cricket in Pakistan responsible for controlling and organising all
tours and matches undertaken by the Pakistan national cricket
team.




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

FUND SINGAPORE: Commences Wind-Up Proceedings
---------------------------------------------
Members of Fund Singapore (Sopa) Ltd on Sept. 23, 2024, passed a
resolution to voluntarily wind up the company's operations.

The company's liquidator is:

          Jason Aleksander Kardachi
          Kroll Pte. Limited
          10 Collyer Quay
          #05-04/05 Ocean Financial Centre
          Singapore 049315


K FOOD: Court to Hear Wind-Up Petition on Oct. 18
-------------------------------------------------
A petition to wind up the operations of K Food Holdings Pte Ltd
will be heard before the High Court of Singapore on Oct. 18, 2024,
at 10:00 a.m.

DBS Trustee Limited filed the petition against the company on Sept.
25, 2024.

The Petitioner's solicitors are:

          Tan Peng Chin LLC
          50 Raffles Place
          #27-01, Singapore Land Tower
          Singapore 048623



MERCURIA MARE: Creditors' Proofs of Debt Due on Nov. 2
------------------------------------------------------
Creditors of Mercuria Mare Balticum Holdings Pte. Ltd. are required
to file their proofs of debt by Nov. 2, 2024, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Sept. 27, 2024.

The company's liquidator is:

          Sharimala Rasanayagam
          c/o 1 Harbourfront Avenue
          #14-08 Keppel Bay Tower
          Singapore 098632


RENOWISE PTE: Court to Hear Wind-Up Petition on Oct. 18
-------------------------------------------------------
A petition to wind up the operations of Renowise Pte Ltd will be
heard before the High Court of Singapore on Oct. 18, 2024, at 10:00
a.m.

Maybank Singapore Limited filed the petition against the company on
Sept. 26, 2024.

The Petitioner's solicitors are:

          M/s Advent Law Corporation
          111 North Bridge Road
          #25-03 Peninsula Plaza
          Singapore 179098


TORQUE AUTOS: Court to Hear Wind-Up Petition on Oct. 18
-------------------------------------------------------
A petition to wind up the operations of Torque Autos Pte Ltd will
be heard before the High Court of Singapore on Oct. 18, 2024, at
10:00 a.m.

Maybank Singapore Limited filed the petition against the company on
Sept. 27, 2024.

The Petitioner's solicitors are:

          Shook Lin & Bok LLP
          1 Robinson Road
          #18-00 AIA Tower
          Singapore 048542




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

QOO10: Arrest Warrant Sought for CEO Over Massive Payment Delays
----------------------------------------------------------------
Yonhap News Agency reports that prosecutors on Oct. 4 requested an
arrest warrant for Ku Young-bae, CEO of Singapore-based Qoo10,
which owns Korean online shopping platforms TMON and WeMakePrice,
for alleged fraud, embezzlement and breach of duty over large-scale
e-commerce insolvency incidents.

According to Yonhap, the Seoul Central District Prosecutors Office
also sought warrants to arrest TMON CEO Ryu Kwang-jin and
WeMakePrice CEO Ryu Hwa-hyun.

Yonhap relates that the prosecution said it filed for the warrants
for them considering the significance of the incident, and the risk
of them destroying evidence and fleeing.

In late July, TMON and WeMakePrice filed for corporate
rehabilitation with the Seoul Bankruptcy Court after failing to
make payments to vendors using their platforms since early July.

The payment delays by the two platforms prompted local financial
authorities to launch an investigation, Yonhap notes. The
authorities estimated there are more than KRW1.5 trillion (US$1.1
billion) of unpaid bills and other liquidity issues regarding the
incident.

Prosecutors estimated the amount of suspected fraud and
embezzlement at KRW1.4 trillion and KRW50 billion, respectively,
Yonhap discloses. They also suspect that Qoo10 may have misused
about KRW50 billion of the shopping platforms' due payments to
vendors to acquire U.S. online e-commerce platform Wish.

Yonhap notes that prosecutors recently questioned Ku over whether
he arbitrarily used the affiliated companies' funds and was
involved in their irregular business operations despite knowing
their financial situations were worsening.

                          About Qoo10

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

As reported the Troubled Company Reporter-Asia Pacific on Sept. 11,
2024, the Seoul Bankruptcy Court on Sept. 10 granted a
rehabilitation process for liquidity crisis-hit e-commerce
platforms TMON and WeMakePrice, allowing them to restructure their
debts to creditors under the supervision of court-appointed
custodians.

According to Yonhap News Agency, the decision came more than a
month after TMON and WeMakePrice filed for court-supervised
rehabilitation, following overdue payments to vendors operating on
their platforms that reached nearly KRW1 trillion (US$744
million).



                           *********


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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.
Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

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



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