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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
Tuesday, January 27, 2026, Vol. 29, No. 19
Headlines
A U S T R A L I A
ADTECH CONTRACTING: Second Creditors' Meeting Set for Jan. 30
BROADWATER ENGINEERING: First Creditors' Meeting Set for Feb. 3
INFINITY PHARMACY: Wesfarmers Denies Priceline Pharmacy Closures
OCEANIA CYCLE: First Creditors' Meeting Set for Feb. 4
STEALTH ELECTRIC: First Creditors' Meeting Set for Feb. 3
SYDNEY DISTILLING: First Creditors' Meeting Set for Feb. 3
C H I N A
YUEDA DIGITAL: Names Robert Csercse to Board, Committees
I N D I A
AAA VEHICLEADES: CARE Keeps D Debt Ratings in Not Cooperating
ADEA POWERQUIPS: CARE Keeps D Debt Ratings in Not Cooperating
ANJANEYA COTTON: CARE Keeps B- Debt Rating in Not Cooperating
ASHTAVINAYAK BUILDERS: CARE Keeps C Debt Rating in Not Cooperating
B. SAMYAKK: CARE Keeps D Debt Rating in Not Cooperating Category
BALAJI GINNING: CARE Keeps C Debt Rating in Not Cooperating
BRAHMAGIRI DEVELOPMENT: CARE Keeps C Rating in Not Cooperating
CHL BUILDING: Voluntary Liquidation Process Case Summary
GAURINATH AGRO: CARE Keeps B- Debt Rating in Not Cooperating
GEETA PRINTS: Insolvency Resolution Process Case Summary
GLOBALITE INDUSTRIES: CARE Keeps D Debt Ratings in Not Cooperating
HANUMAN DAL: CARE Keeps D Debt Rating in Not Cooperating Category
IMPEX FERRO: Invites Resolution Plans Under Insolvency Process
INNOTECH EDUCATIONAL: CARE Keeps D Debt Rating in Not Cooperating
INTACT TRANSPORT: CARE Lowers Rating on INR92.48cr LT Loan to B+
KISHAN LAL: CARE Keeps C Debt Rating in Not Cooperating Category
KRISHNE GOWDA: CARE Keeps B- Debt Rating in Not Cooperating
MICRO THERAPEUTIC: CARE Keeps C Debt Rating in Not Cooperating
MITTAL FORGINGS: CARE Keeps B- Debt Rating in Not Cooperating
MUNICIPAL COUNCIL: CARE Keeps B- Issuer Rating in Not Cooperating
PANAMA AGRICULTURE: CARE Keeps D Debt Rating in Not Cooperating
R. K. EXPORTS: CARE Keeps B- Debt Rating in Not Cooperating
RAJENDRA AGRO: CARE Keeps B- Debt Rating in Not Cooperating
RAVI KAMAL: CARE Keeps B- Debt Rating in Not Cooperating Category
RECMET ALLOYS: CARE Keeps C Debt Rating in Not Cooperating
REFULGENT ISPAT: CARE Keeps B- Debt Rating in Not Cooperating
SHANTI HOSPITAL: CARE Keeps D Debt Rating in Not Cooperating
VANI ORGANICS: CARE Keeps C Debt Rating in Not Cooperating
VARUDI PAPER: CARE Lowers Rating on INR47.09cr LT Loan to D
VEERANJANEYA ECO-BRICKS: CARE Keeps B- Rating in Not Cooperating
J A P A N
OSAKA STEEL: To Shutter Indonesia Joint Venture With Krakatau
TOKYO ELECTRIC: To Sell Assets Worth US$1.3B in Restructuring Plan
[] JAPAN: Restaurant Bankruptcies Hit Record High in 2025
N E W Z E A L A N D
COOPER & CO: Owes NZD514,000 to Creditors
FOXTROT LIMITED: Court to Hear Wind-Up Petition on Feb. 4
HOME GROWN: Creditors' Proofs of Debt Due on March 6
ROCKIT ORCHARD: BDO Auckland Appointed as Administrators
SKK LIMITED: Creditors' Proofs of Debt Due on Feb. 26
SPRUCE GOOSE: Wellington Cafe to Shut Doors After 12 Years
SUMMIT BUILD: Court to Hear Wind-Up Petition on Feb. 24
S I N G A P O R E
CVL COSMETICS: Creditors' Proofs of Debt Due on Feb. 20
KENT RIDGE: Court to Hear Wind-Up Petition on Feb. 6
PURPOSE LABS: Placed Into Liquidation
SMARTCOMM ELECTRONICS: Court Enters Wind-Up Order
USP GROUP: Court to Hear Scheme of Arrangement on Jan. 30
YAMATO ASIA: Creditors' Proofs of Debt Due on Feb. 23
- - - - -
=================
A U S T R A L I A
=================
ADTECH CONTRACTING: Second Creditors' Meeting Set for Jan. 30
-------------------------------------------------------------
A second meeting of creditors in the proceedings of Adtech
Contracting Pty Ltd has been set for Jan. 30, 2026, at 11:00 a.m.
via Zoom.
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Jan. 29, 2026 at 5:00 p.m.
Nathan Lee Deppeler and Matthew James Jess of Worrells Solvency &
Forensic Accountants were appointed as administrators of the
company on Dec. 15, 2025.
BROADWATER ENGINEERING: First Creditors' Meeting Set for Feb. 3
---------------------------------------------------------------
A first meeting of the creditors in the proceedings of Broadwater
Engineering Pty Ltd will be held on Feb. 3, 2026, at 10:30 a.m. at
the offices of Worrells, at Suite 5B, 55 Kembla Street, in
Wollongong, NSW, and via virtual meeting technology.
Stephen John Hundy and Daniel Ivan Cvitanovic of Worrells were
appointed as administrators of the company on Jan. 21, 2026.
INFINITY PHARMACY: Wesfarmers Denies Priceline Pharmacy Closures
----------------------------------------------------------------
The Australian Financial Review reports that Wesfarmers has taken
to social media to quash rumours that certain Priceline stores
would close, after it put the largest franchisee of that pharmacy
chain into receivership, leaving creditors owed AUD400 million.
Wesfarmers owns Australian Pharmaceutical Industries (API), a drug
wholesaler that owns the Priceline brand. In late December,
Wesfarmers pushed about half of the Priceline stores of its largest
franchisee, Infinity Pharmacy Group, into receivership following
years of financial difficulties.
Martin Ford, Daniel Bryant, Stephen Longley and Mahala Hazell of
Teneo were appointed as administrators of Infinity Pharmacy Group
Pty, IPG Pacific Fair Pty Ltd, IPG Woodford Pty Ltd and Krina K Pty
Ltd on Dec. 18, 2025.
OCEANIA CYCLE: First Creditors' Meeting Set for Feb. 4
------------------------------------------------------
A first meeting of the creditors in the proceedings of Oceania
Cycle Sport Pty Ltd will be held on Feb. 4, 2026, at 2:30 p.m. via
Zoom.
Matthew Kucianski and Matthew Jess of Worrells Solvency & Forensic
Accountants were appointed as administrators of the company on Jan.
22, 2026.
STEALTH ELECTRIC: First Creditors' Meeting Set for Feb. 3
---------------------------------------------------------
A first meeting of the creditors in the proceedings of Stealth
Electric Bikes Pty Ltd (trading as F.U.T.R. Electric Bikes) will be
held on Feb. 3, 2026, at 10:00 a.m. at the offices of Jirsch
Sutherland, at Level 30, 140 William Street, in Melbourne, VIC and
via teleconferencing facilities.
Andrew Mattinson and Glenn Anthony Crisp of Jirsch Sutherland were
appointed as administrators of the company on Jan. 22, 2026.
SYDNEY DISTILLING: First Creditors' Meeting Set for Feb. 3
----------------------------------------------------------
A first meeting of the creditors in the proceedings of Sydney
Distilling Co. Pty Limited (trading as Brix Distillers) will be
held on Feb. 3, 2026, at 11:00 a.m. at the offices of RSM Australia
Partners, Level 7, 1 Martin Place, in Sydney, NSW, and via virtual
meeting technology.
Richard Stone and Ben Carson of RSM Australia Partners were
appointed as administrators of the company on Jan. 21, 2026.
=========
C H I N A
=========
YUEDA DIGITAL: Names Robert Csercse to Board, Committees
--------------------------------------------------------
Yueda Digital Holding disclosed in a regulatory filing that Mr. Hao
Huang resigned as an independent director of the Board of
Directors, the chair of the Compliance Committee, a member of the
Audit Committee, and a member of the Compensation Committee of the
Board effective January 15, 2026. Mr. Hao Huang's resignation was
not the result of any dispute or disagreement with the Company on
any matter relating to the Company's operations, policies or
practices.
Following Mr. Hao Huang's resignation, the Board, including a
majority of the independent directors thereof, approved the
appointment of Mr. Robert Luigi Csercse as an independent director
of the Board, the chair of the Compliance Committee, a member of
the Audit Committee, and a member of the Compensation Committee of
the Board, to fill the vacancies created by Mr. Hao Huang's
resignation.
The Board has reviewed the independence of Mr. Robert Luigi Csercse
and determined that he satisfies the "independence" requirements of
Rule 5605 of the Listing Rules of the Nasdaq Stock Market and Rule
10A-3 under the Securities Exchange Act of 1934.
Mr. Robert Luigi Csercse has significant experience in data
analytics, real estate technology, and asset management. From 2018
to 2024, he served as the co-founder and Chief Operating Officer of
Houzen UK Ltd., a data analytics and transactions SaaS platform for
residential real estate assets.
During his tenure at Houzen, Mr. Csercse built business operations
from the ground up, managed stakeholder relationships with major
clients such as Invesco and JLL, and led process automation
initiatives. Prior to that, he served as a Senior Portfolio Manager
managing single and multifamily assets with over £300 million in
assets under management.
About Yueda Digital Holding
Yueda Digital Holding focuses on identifying and evaluating
potential partnerships across financial technology and blockchain
ecosystems and developing our bitcoin and ether treasury framework.
The company was formerly known as AirNet Technology Inc. and
changed its name to Yueda Digital Holding in September 2025. Yueda
Digital Holding was founded in 2005 and is based in Beijing, the
People's Republic of China.
Singapore-based Assentsure PAC, the Company's auditor since 2025,
issued a "going concern" qualification in its report dated May 2,
2025, attached to the Company's Annual Report on Form 10-K for the
year ended December 31, 2024, citing that the Company has a history
of operating losses and negative operating cash flows and has
negative working capital of approximately US$52.6 million as of
December 31, 2024. These conditions raise substantial doubt about
the Company's ability to continue as a going concern. Historically,
the Company has relied principally on both operational sources of
cash and non-operational sources of equity and debt financing to
fund its operations and business development. The Company's ability
to continue as a going concern depends on management's ability to
successfully execute its business plan which includes increasing
the utilization rate of existing staffs and potential financing
from public market or private placement. However, there is no
assurance that the measures can be achieved as planned.
As of Dec. 31, 2024, the Company had $72.17 million in total
assets, $93.26 million in total liabilities, and a total deficit of
$21.09 million.
=========
I N D I A
=========
AAA VEHICLEADES: CARE Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of AAA
Vehicleades Private Limited (AVPL) continue to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 94.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 17.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 26, 2024, placed the rating(s) of AVPL under the
'issuer non-cooperating' category as AVPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. AVPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 11, 2025, November 21, 2025 and December 1, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
AAA Vehicleades Private Limited was incorporated as a private
limited company in 2008. It is a part of the Vehicleades Group of
Jammu & Kashmir, promoted by Mr. Devender Rana and Mrs. Gunjan
Rana. AVPL is an authorized dealer for the sale of passenger
vehicles of Maruti Suzuki India Ltd. The company is engaged in the
sale of passenger vehicles, servicing of vehicles, sale of spare
parts and sale of pre-owned cars, having its showrooms across Delhi
region.
ADEA POWERQUIPS: CARE Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Adea
Powerquips Private Limited (APPL) continue to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 6.06 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 1.40 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 23, 2024, placed the rating(s) of APPL under the
'issuer non-cooperating' category as APPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. APPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 8, 2025, November 18, 2025 and November 28, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Adea Powerquips Private Limited (APPL) was incorporated on November
18, 2010 with its registered office and manufacturing plant
situated at Hooghly, West Bengal and the company started its
commercial operations since January 2016. The company is engaged in
manufacturing of overhead transmission line hardware, fittings,
conductor accessories, bus bar clamps and connectors ranging from
11kV to 1200kV lines and substations.
ANJANEYA COTTON: CARE Keeps B- Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sri
Anjaneya Cotton Mills Limited (SACML) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 18.70 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 3, 2024, placed the rating(s) of SACML under the
'issuer non-cooperating' category as SACML had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. SACML continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 19, 2025, October 29, 2025, November 8, 2025 among others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Sri Anjaneya Cotton Mills Limited (SACML) is a part of Anjaneya
Group and was incorporated in 1962 as a private limited company.
Presently SACML operates one spinning mill with an installed
capacity of 29,344 spindles. SACML also operates a wind power unit
at Maharashtra with installed capacity of 2.5 MW. Till 1990, SACML
was operated by a different management with an installed capacity
of 13,784 spindles when it became a sick unit and was referred to
Board for Industrial and Financial Reconstruction (BIFR). However,
in 1991, the current management under Mr. R. Manjunath (Promoter
and Managing Director), took over the unit, infused capital, turned
around the unit with modernization/expansion activities and as a
result SACML came out of BIFR.
ASHTAVINAYAK BUILDERS: CARE Keeps C Debt Rating in Not Cooperating
------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of
Ashtavinayak Builders & Developers (ABD) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 7.50 CARE C; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 23, 2024, placed the rating(s) of ABD under the
'issuer non-cooperating' category as ABD had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. ABD continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 8, 2025, November 18, 2025, November 28, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Surat-based (Gujarat) ABD was established as a partnership firm in
April 25, 2014. Partners of ABD through their associate concerns in
past have executed various projects regarding residential and
commercial projects. ABD is engaged in the real estate development
and is currently executing its residential project named 'River
Marvella' at Surat, Gujarat. It comprises 2 blocks i.e. block A and
block B which consists of 44 flats divided into two wings i.e. wing
A and wing B only. Wing A comprises 22 flats of 1700 sq feet. Wing
B comprises 22 flats of area 1545 sq feet.
B. SAMYAKK: CARE Keeps D Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of B. Samyakk
Agri Cottons (BSAC) 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 Limited (CareEdge Ratings) had, vide its press release
dated December 18, 2024, placed the rating(s) of BSAC under the
'issuer non-cooperating' category as BSAC had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. BSAC continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 3, 2025, November 13, 2025 and November 23, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Raichur based, B. Samyakk Agri Cottons (BSAC) was established on
May 06, 2015 and started commercial operations from October 21,
2015. The firm was established as a proprietorship firm by Mr.
Veerendar Kumar Jain who is managing the overall business
operations of BSAC. The firm is engaged in the cotton ginning and
pressing activity. The manufacturing unit of the firm is located at
Raichur, Karnataka.
BALAJI GINNING: CARE Keeps C Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Balaji
Ginning and Pressing (BGP) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 9.00 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 16, 2024, placed the rating(s) of BGP under the
'issuer non-cooperating' category as BGP had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. BGP continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 1, 2025, November 11, 2025, November 21, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
BGP was established as a partnership concern in the year 2001. The
firm is engaged in ginning and pressing of cotton and extraction of
oil from cotton seed along with trading of cotton bales and cotton
seeds. The ginning and pressing unit and oil extraction unit is
located at Yavatmal, Maharashtra.
BRAHMAGIRI DEVELOPMENT: CARE Keeps C Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Brahmagiri
Development Society (BDS) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 6.09 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 Limited (CareEdge Ratings) had, vide its press release
dated November 15, 2024, placed the rating(s) of BDS under the
'issuer non-cooperating' category as BDS had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. BDS continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 1, 2025, October 11, 2025, October 21, 2025 among others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
The Brahmagiri Development Society (BDS) came into existence in
1999 with an objective of playing an active role in assisting the
farming community in Wayanad attain self-sufficiency. The society
also aims at empowering the farmers to tap modern technologies and
mechanisms to improve their financial condition. The activities
undertaken by the society include scientific fodder production,
construction of cattle shed and bio-gas plants, distribution of
azolla plants and implementation of Watershed Development programs
with the assistance of the National Bank for Agriculture and Rural
Development (NABARD) and the Western Ghats Development Programme
(WGDP).
CHL BUILDING: Voluntary Liquidation Process Case Summary
--------------------------------------------------------
Debtor: CHL Building Design Services Private Limited
702/L, Sarjan-2,
Near Sharda School,
Opposite Sun Vila Row House,
Memnagar, Ahmedabad, Gujarat - 380052
Liquidation Commencement Date: January 12, 2026
Court: National Company Law Tribunal, Ahmedabad Bench
Liquidator: Vinit Nagar
818, Shivalik Satyamev,
Bopal-Ambli Cross Road,
Bopal, Ahmedabad - 380058,
Gujarat
Email: ipvinitnagar@gmail.com
Last date for
submission of claims: February 11, 2026
GAURINATH AGRO: CARE Keeps B- Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Gaurinath
Agro Products Private Limited (GAPPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long term Bank 9.29 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 16, 2024, placed the rating(s) of GAPPL under the
'issuer non-cooperating' category as GAPPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. GAPPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 1, 2025, November 11, 2025, November 21, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
GAPPL was incorporated in March 2016 and is promoted by Mr. Ashok
Hariyani and Mrs. Bharati Hariyani. The company is engaged in the
business of ginning and pressing of cotton at its manufacturing
unit located at Chandrapur region of Maharashtra.
GEETA PRINTS: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: Geeta Prints Private Limited
Plot No. 150, G.I.D.C.,
Pandesara Surat,
Gujarat, India - 394221
Insolvency Commencement Date: January 13, 2026
(Order Received on January 14, 2026)
Court: National Company Law Tribunal, Ahmedabad Bench
Estimated date of closure of
insolvency resolution process: July 13, 2026
Insolvency professional: Rajendra Sanghi
Interim Resolution
Professional: Rajendra Sanghi
B/2D Siddh Chhakra Apartment,
Near Sargam Shopping Center,
Parle Point,
Surat, Gujarat - 395007
Email: rajendra.sanghi@yahoo.co.in
64, Near Modi Mill,
Okhla Phase III,
Okhla Industrial Estate,
New Delhi, 110020
Email: geetaprints.cirp@gmail.com
Last date for
submission of claims: January 28, 2026
GLOBALITE INDUSTRIES: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Globalite
Industries Private Limited (GIPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 12.60 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Long Term/ 0.60 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 Limited (CareEdge Ratings) had, vide its press release
dated December 27, 2024, placed the rating(s) of GIPL under the
'issuer non-cooperating' category as GIPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. GIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 12, 2025, November 22, 2025 and December 2, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
GIPL erstwhile LKA Creations Private Limited was incorporated in
2005 and commenced its commercial operation in March 2011. The
company is currently being managed by Mr Lalit Kishore and Ms.
Vanita Gupta. The company is engaged in the business of
manufacturing and selling of footwear (both sports and casual). The
company is also engaged in trading of accessories and apparels
(T-shirts, sweatshirts, track suits, bag, watches, etc.).
HANUMAN DAL: CARE Keeps D Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Hanuman Dal
Industries Private Limited (HDI) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 35.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 17, 2024, placed the rating(s) of HDIPL under the
'issuer non-cooperating' category as HDIPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. HDIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 2, 2025, November 12, 2025, November 22, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not applicable
About the Company HDIPL was incorporated in the year 2015 and it
belongs to the Bolla Group of Nagpur. The group is promoted by the
Bolla family and is currently managing eight entities including
HDIPL. HDIPL is promoted by Mr. Raman Bolla and Mrs. Vijayalaxmi
Bolla. The company has set up a tur-dal and gram dal processing
unit at Nagpur, Maharashtra.
IMPEX FERRO: Invites Resolution Plans Under Insolvency Process
--------------------------------------------------------------
TipRanks reports that Impex Ferro Tech Ltd has formally invited
resolution plans from interested parties as required under India's
Insolvency and Bankruptcy Code and related regulations.
TipRank relates that the Resolution Professional has issued a
public invitation for expressions of interest via Form G and
corresponding newspaper advertisements, signaling a key procedural
step toward identifying potential resolution applicants and
determining the company's future ownership and restructuring
trajectory, with implications for creditors, investors and other
stakeholders as the insolvency process advances.
Impex Ferro Tech Ltd operates in the ferro alloys/metal industry,
producing ferro alloys used primarily by steel and related sectors.
The company commenced Corporate Insolvency Resolution Process
(CIRP) on May 2, 2024.
INNOTECH EDUCATIONAL: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Innotech
Educational Society (IES) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 19.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated November 19, 2024, placed the rating(s) of IES under the
'issuer non-cooperating' category as IES had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. IES continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 5, 2025, October 15, 2025, October 25, 2025 among others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Innotech Educational Society (IES) was established in March, 2010
under the Societies Registration Act, 1860 for establishing and
operating educational institutes for imparting education in
engineering discipline in Araria, Bihar. With completion of the
Phase I of its three phased project, the society has started an
Engineering college under the name "Moti Babu Institute of
Technology (MBIT)" with 300 seats in 5 streams of engineering from
the academic year 2014- 2015. The institute is approved by All
India Council for Technical Education (AICTE) and affiliated to
Aryabhatta Technology University, Bihar. The society has been
founded & promoted by Shri Amit Kumar Das, an NRI (based in
Australia), who is a graduate and diploma holder in computer
engineering and possesses more than a decade experience in
Information Technology sector. He is also the founder & chairman of
the ISOFT Software Technologies Pvt. Ltd., a Entity engaged in
software development.
INTACT TRANSPORT: CARE Lowers Rating on INR92.48cr LT Loan to B+
----------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Intact Transport Private Limited (ITPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 92.48 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 Limited (CareEdge Ratings) had, vide its press release
dated December 18, 2024, placed the rating(s) of ITPL under the
'issuer non-cooperating' category as ITPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. ITPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 3, 2025, November 13, 2025 and November 23, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings 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 bank facilities of ITPL have been revised
on account of non – availability of requisite information.
Analytical approach: Standalone
Outlook: Stable
Based in New Delhi, Intact Transport Private Limited was
incorporated in the year 2018 and started its commercial operations
in the year 2020. The company is currently managed by Mr. Param
Jeet Singh, Ms. Anjali, Mr. Virender Singh, Mr. Sanjay Kumar, Mr.
Ramniwas, Mr. Rahul Rathi and Mr. Rajeev Kumar as its directors.
The company is engaged in providing transportation services related
to public transport buses in the Delhi region. The company is
running public carriage cluster buses under public private
partnership with the State Government. The company renders
transportation services through contracts received by bid/
tender process under cluster bus scheme of the Transport
Department, New Delhi.
KISHAN LAL: CARE Keeps C Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Kishan Lal
Agrawal Contractor (KLAC) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 4.50 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Short Term Bank 5.50 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated November 21, 2024, placed the rating(s) of KLAC under the
'issuer non-cooperating' category as KLAC had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. KLAC continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 7, 2025, October 17, 2025, October 27, 2025 among others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Kishan Lal Agrawal Contractors (KLAC) was constituted in May 1988as
a partnership firm and currently managed by Mr. Pankaj Agrawal and
Mr. Ashok Kumar Agrawal. Since its inception, the firm has been
engaged in civil construction business like laying of pipelines,
supplying and fixing C.I. Pipe Line, construction of water supply
system, construction of stadium building, residential quarters,
college, shopping complex, etc. KLAC participates in tenders and
executes orders for the various departments of Government of
Chhattisgarh. KLAC is classified as a 'Class A contractor' by the
Government of Chhattisgarh which enables it to participate in
higher value contracts.
KRISHNE GOWDA: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Krishne
Gowda_Kolar (KG) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 8.04 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated November 14, 2024, placed the rating(s) of KG under the
'issuer non-cooperating' category as KG had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. KG continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
September 30, 2025, October 10, 2025, October 20, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Karnataka based, Krishne Gowda (KG) was established in the year
1985. KG was promoted by Mr. Krishne Gowda. The firm is mainly
engaged in trading of beverages to retail customers and is also
running a bar and restaurant in the Kolar district. The firm
purchases liquor and beverages from Karnataka State Beverages
Corporation Limited (KSBCL).
MICRO THERAPEUTIC: CARE Keeps C Debt Rating in Not Cooperating
--------------------------------------------------------------
Therapeutic Research Labs Private Limited (MTRLPL) continue to
remain in the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 14.62 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Short Term Bank 0.15 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 12, 2024, placed the rating(s) of MTRLPL under the
'issuer non-cooperating' category as MTRLPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. MTRLPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 28, 2025, November 7, 2025, November 17, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Micro Therapeutic Research Labs Pvt. Ltd (MTRLPL) is a
Chennai-based Clinical Research Organization (CRO) providing
various research services including Bio-Availability (BA)/
Bio-Equivalence (BE) studies, Pre-Clinical and Clinical trials
(Phase I – Phase IV), statistical reporting and data management
to leading domestic and global pharmaceutical clients.
MITTAL FORGINGS: CARE Keeps B- Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Mittal
Forgings and Components Private Limited (MFCPL) continues to remain
in the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 5.92 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated January 9, 2025, placed the rating(s) of MFCPL under the
'issuer non-cooperating' category as MFCPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. MFCPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 25, 2025, December 5, 2025, December 15, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Alwar (Rajasthan) based Mittal Forgings & Components Private
Limited (MFCPL) levers for motorcycles, gears, stub axles, fork,
cross holders, yokes, couplings, shafts, couplers etc. for the
automobile, 2-Wheeler, Tractor, Trucks, machine tool & Construction
industries.
MUNICIPAL COUNCIL: CARE Keeps B- Issuer Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Municipal
Council Anantnag (MCA) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
----------- ----------- -------
Issuer Rating - CARE B-; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated January 20, 2025, placed the rating(s) of MCA under the
'issuer non-cooperating' category as MCA had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. MCA continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
December 6, 2025, December 16, 2025, December 26, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Municipal Council Anantnag was commissioned under Jammu & Kashmir
Municipal Act in the year 1937. It covers an area of 15.16 sq.km
and is divided into 25 administrative wards.
PANAMA AGRICULTURE: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Panama
Agriculture Private Limited (PAPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 1.25 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 16, 2024, placed the rating(s) of PAPL under the
'issuer non-cooperating' category as PAPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. PAPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
November 1, 2025, November 11, 2025, November 21, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not applicable
Pune based, Panama Agritech Private Limited was promoted by Ladkat
brothers with Mr. Sameer Ladkat as Chairman and Mr. GautamLadkat as
Director. Further, since Feb. 8, 2016, the name of the company was
changed to PAPL.The company is engaged in providing services for
scientific and safe storage of grains in silo bags. The company
primarily provides its services to Madhya Pradesh Warehousing and
Logistic Corporation (MPWLC) on rental basis at a pre-agreed price
per quintal.
R. K. EXPORTS: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of R. K.
Exports (RKE) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
----------- ----------- -------
Long-term Bank 7 CARE B-; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale & Key Rating Drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated November 18, 2024, placed the rating(s) of RKE under the
'issuer non-cooperating' category as RKE had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. RKE continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 4, 2025, October 14, 2025, October 24, 2025 among others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Established in 1992, R. K. Exports (RKE) is engaged in
manufacturing of glass beads and allied products through
manufacturing facility located at Wada-Bhiwandi. RKE sells majority
of its production to the group companies namely Bombay Bead Centre
(BBC) and Shyamlal Radhakrishna & Co (SRC), which operate in Delhi
and Mumbai market respectively. The products of RKE find
application in garments industry and artificial jewellery industry.
The key raw materials of the firm include quartz powder, soda ash,
furnace oil, silver and semi-finished glass beads. The firm
procures around 80% of its raw materials domestically and
imports around 20% mostly for semi-finished beads (mainly from
China, Taiwan and Japan).
RAJENDRA AGRO: CARE Keeps B- Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Rajendra
Agro Industries (RAI) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 9.30 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated November 14, 2024, placed the rating(s) of RAI under the
'issuer non-cooperating' category as RAI had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. RAI continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
September 30, 2025, October 10, 2025, October 20, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Raichur based, Rajendra Agro Industries (RAI) was established on
May 24, 2017. The firm is engaged in the cotton ginning and
pressing activity. Due to seasonal nature of raw material, the
company operates for only 9 months in a year and remains closed in
the months of July, August and September. The manufacturing unit of
the firm is located at Raichur, Karnataka.
RAVI KAMAL: CARE Keeps B- Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ravi Kamal
Roller Flour Mills Private Limited (RKRFMPL) continues to remain in
the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 14.00 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 17, 2024, placed the rating(s) of RKRFMPL under the
'issuer non-cooperating' category as RKRFMPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. RKRFMPL continues to be noncooperative despite repeated
requests for submission of information through e-mails dated
November 2, 2025, November 12, 2025, November 22, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Ravi Kamal Roller Flour Mills Private Limited (RKRFMPL) promoted by
Mr. Anil Kumar Gupta, incorporated in 1981 is engaged processing of
wheat into flour (Viz, Maida, Rawa, Bran, and wheat flour) its own
plant in Raigad, Maharashtra.
RECMET ALLOYS: CARE Keeps C Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Recmet
Alloys Private Limited (RAPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 9.95 CARE C; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 3, 2024, placed the rating(s) of RAPL under the
'issuer non-cooperating' category as RAPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. RAPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 19, 2025, October 29, 2025, November 8, 2025 among others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
New Delhi based RAPL was incorporated during October 2010 with
objective of setting up a Lead refining and smelting unit at
Jambusar, Bharuch district (Gujarat) at a proposed refining
capacity of 24,000 MT per annum. RAPL's registered office is in New
Delhi but all its operations are carried out from its Vadodara
(Gujarat) office as this is near to its plant in Jambusar, Bharuch
district (Gujarat). RAPL is promoted by Mr. Rabindra Agarwal, Mr.
Sanjay Saini, Mr. Kunj Behari Sarraf and Mr. Anup Agarwal with the
first three directors having experience of more than a decade into
Non-ferrous metal industry. RAPL has completed its
project of setting up Lead refining and smelting unit in April,
2016 the total cost of the project was Rs.12.85 core which was
funded through debt to equity of 0.45 times. The plant has been set
up on a land plot purchased by the company at Jambusar having area
of 34,095 sq. meters.
REFULGENT ISPAT: CARE Keeps B- Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Refulgent
Ispat Private Limited (RIPL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 5.50 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated November 15, 2024, placed the rating(s) of RIPL under the
'issuer non-cooperating' category as RIPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. RIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 1, 2025, October 11, 2025, October 21, 2025 among others.
In line with the extant SEBI guidelines, CareEdge Ratings. has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Refulgent Ispat Private Limited (RIPL) was incorporated in December
2000 by Mr. Raghunandan Jalan. Mr. Ramesh Jalan has joined the
company as a director from August, 2001. The company has started
its operation from January 2001. The company has been engaged in
manufacturing of mild steel ingots. The manufacturing facility of
the company is located at Chikatmati, Sonnugaonbeldhi, City -
Sundargarh, Odisha.
SHANTI HOSPITAL: CARE Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shanti
Hospital (SH) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 14.27 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated November 14, 2024, placed the rating(s) of SH under the
'issuer non-cooperating' category as SH had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. SH continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
September 30, 2025, October 10, 2025, October 20, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings. has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not applicable
Shanti Hospital (SH) initially started its operations in 1986, with
a constitution of Hindu Undivided Family (HUF), and was then known
as Shanti Children Hospital. Later, the entity was converted into
Partnership firm in 2008. In 2011 the firm changed its name to
current nomenclature. Currently, SH has 100 beds, operational in
Bagalkot, Karnataka and is promoted by Dr. Rajendra Patil and Dr.
Sunil Biradar Patil. It is a Multi-Specialty Hospital spread across
a cumulative area of 35,000 sq. ft. with modern equipment and
infrastructure.
VANI ORGANICS: CARE Keeps C Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Vani
Organics Private Limited (VOPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term 6.50 CARE C; ISSUER NOT COOPERATING;
Bank Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 2, 2024, placed the rating(s) of VOPL under the
'issuer non-cooperating' category as VOPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. VOPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 18, 2025, October 28, 2025, November 7, 2025 among others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Not Applicable
Vani Organics Private Limited (VOPL) belongs to Vani Group based
out of Hyderabad promoted by Late Mr. Subba Rao. The Group
commenced its business by incorporating Vani Pharma Labs Limited
(VPL) in the year 1976 which is the flagship company of the group
and engaged in manufacturing of Active Pharmaceutical Ingredients
(APIs) and bulk drugs. In 1984, the group expanded its production
facilities by incorporating VOPL in Bidar, Karnataka, to
manufacture bulk drugs.
VARUDI PAPER: CARE Lowers Rating on INR47.09cr LT Loan to D
-----------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Shree Varudi Paper Mill LLP (SVPM), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 47.09 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
and Downgraded from CARE B+;
Stable
Long Term/ 21.11 CARE D/CARE D; ISSUER NOT
Short Term COOPERATING; Rating continues
Bank Facilities to remain under ISSUER NOT
COOPERATING category and
Downgraded from CARE B+;
Stable/CARE A4
Short Term Bank 3.80 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
and Downgraded from CARE A4
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated October 1, 2025, placed the rating(s) of SVPM under the
'issuer non-cooperating' category as SVPM had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. SVPM continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
January 19, 2026 among others.
In line with the extant SEBI guidelines, CareEdge Ratings. has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The ratings for SVPM have been revised on account of
non-availability of requisite information. The revision also
factors in delays in debt servicing recognized from publicly
available information.
Analytical approach: Standalone
Outlook: Not applicable
Surat based Shree Varudi Paper Mill LLP (SVPM) was incorporated in
January 2021 by Dhaval Jagdishchandra Vidja, Milan Jayantibhai
Vidaja, Bipinkumar Ratilal Chandrola, Vipubhai Bhanjibhai Kadivar,
Chandrakant Ranchhodbhai Tada, Rajesh Jayantbhai Vidaja, Rajanibhai
Talashibhai Akhaja and Manisha Ninkuj Vekaria. SVPM has set up a
paper mill with an installed capacity of 180 tonne per day (TPD) as
on June 30, 2024. The unit manufactures kraft paper of 50 to 200
gram per sq. meter (GSM) and Bursting factor (BF) ranging from 18
to 35. It commenced operations from January 2023.
VEERANJANEYA ECO-BRICKS: CARE Keeps B- Rating in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sri
Veeranjaneya Eco-Bricks Private Limited (SVEPL) continues to remain
in the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 6.00 CARE B-; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Limited (CareEdge Ratings) had, vide its press release
dated December 12, 2024, placed the rating(s) of SVEPL under the
'issuer non-cooperating' category as SVEPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. SVEPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
October 28, 2025, November 7, 2025, November 17, 2025 among
others.
In line with the extant SEBI guidelines, CareEdge Ratings has
reviewed the rating on the basis of the best available information
which however, in CareEdge Ratings' opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Outlook: Stable
Telangana based, Sri Veeranjaneya Eco-Bricks Private Limited
(SVEPL) was incorporated in the year 2011 by Mr. Srinivasa Rao
(Managing Director) and Mr. Purnachandra (Director). The company is
engaged in manufacturing of Autoclaved Aerated Concrete Blocks
(AAC) light weight blocks under various sizes. The AAC blocks are
light weighted which is used as a substitute of the conventional
red clay bricks in residential, commercial and industrial
construction activities.
=========
J A P A N
=========
OSAKA STEEL: To Shutter Indonesia Joint Venture With Krakatau
-------------------------------------------------------------
Nikkei Asia reports that Osaka Steel will cease operations at
Indonesian subsidiary Krakatau Osaka Steel due to a sharp decline
in demand caused by the Indonesian government significantly cutting
infrastructure spending, the Japanese company announced Jan. 23.
The Nikkei relates that the decision was made after attempts to
create steady profits failed and the company was unable to sell the
business.
According to the Nikkei, the timing of the withdrawal and other
details will be decided through discussions with its joint venture
partner, state-owned Krakatau Steel.
Production is scheduled to end on April 30, followed by shipments
and sales on June 30. The company said the loss to be recorded as a
result of the withdrawal is yet to be determined, the Nikkei
relays.
In the year ended December 2024, Krakatau Osaka Steel posted sales
of JPY25.3 billion ($161 million) and a net loss of JPY1.3 billion,
the Nikkei discloses.
Osaka Steel and Krakatau Steel established the joint venture in
2012. While it became profitable in 2021, it has continued to incur
net losses since 2022, the Nikkei notes.
Osaka Steel Co., Ltd. engages in the production and sale of steel
sections, bars, steel billets and processed steel products for the
construction, civil engineering, shipbuilding, steel towers, and
industrial machinery manufacturing applications in Japan. It offers
equal and unequal angles, channels, I-beams, round, and deformed
bars, mechanical joints for reinforcing bars, rails, elevator guide
rails, colored angles and channels, deformed and round joints, flat
and square bars, billets, and other semifinished steel products.
TOKYO ELECTRIC: To Sell Assets Worth US$1.3B in Restructuring Plan
------------------------------------------------------------------
Nikkei Asia reports that Tokyo Electric Power Co. Holdings has
decided on a new restructuring plan to sell assets worth JPY200
billion (US$1.3 billion), including shares of Japanese construction
company Kandenko and real estate, Nikkei has learned.
According to an outline of the restructuring plan put together by
TEPCO and its largest shareholder, Nuclear Damage Compensation and
Decommissioning Facilitation Corporation (NDF), the company will
off-load the JPY200 billion in assets over a three-year period, the
Nikkei relates. In addition to shares of Kandenko, in which TEPCO's
operating subsidiary holds a 46% stake, real estate unrelated to
the company's core business is also a candidate for sale.
Proceeds from the asset sales will be used to cover the costs of
responding to the 2011 Fukushima Daiichi nuclear disaster and for
investments in renewable energy.
The plan is expected to receive government approval and details
will be announced as early as Jan. 26, the Nikkei relays.
According to the Nikkei, the restructuring comes at a critical time
for TEPCO, which is saddled with debt to the Japanese government
over its responsibility for the Fukushima incident. Cash reserves
are at the lowest level since the disaster, with the company
repeatedly refinancing short-term loans from banks.
The total cost of dealing with the incident, including
decommissioning the plant and compensating victims, comes to JPY23
trillion, with TEPCO alone needing to cover JPY17 trillion, the
Nikkei discloses.
According to the Nikkei, TEPCO estimates that it will need to
invest JPY11 trillion over the next 10 years into nuclear power
plant safety measures, renewable energy and power transmission for
data centers.
The Nikkei says the company is also expected to postpone
approximately JPY300 billion in investments and cut costs over the
next decade.
The restructuring plan forecasts an ordinary profit of over JPY300
billion by the early 2030s. Ordinary profit for the fiscal year
ended March 2025 was JPY254.4 billion, the Nikkei relays. The plan
assumes that the No. 6 reactor of Kashiwazaki-Kariwa nuclear power
plant in Niigata prefecture will be restarted in fiscal 2025 that
ends in March, and the No. 7 reactor in fiscal 2029.
The No. 6 reactor, which had to be shut down Jan. 22, a day after
the unit went online for the first time in more than a decade, must
update its anti-terrorism security facility in 2029. But since that
deadline is likely to be missed, the reactor will be forced to be
shut down in September that year.
If the anti-terrorism security update proceeds smoothly, the plan
is to have a two nuclear reactors generating power by the early
2030s.
Having the two reactors will allow TEPCO to meet the robust demand
for electricity from data centers, the Nikkei state.
Rather than stick to traditional in-house methods for power
transmission and substation equipment, the company plans to
collaborate with data center operators on the development of new
equipment.
TEPCO is also considering restructuring its decommissioning company
and other related organizations as it undertakes the massive
cleanup at the Fukushima plant, adds the Nikkei.
About TEPCO
Headquartered in Chiyoda City, Tokyo, Japan, Tokyo Electric Power
Company Holdings, Incorporated generates, transmits, and
distributes electricity.
Egan-Jones Ratings Company, on June 14, 2024, maintained its 'BB+'
foreign currency and local currency senior unsecured ratings on
debt issued by Tokyo Electric Power Company Holdings,
Incorporated.
[] JAPAN: Restaurant Bankruptcies Hit Record High in 2025
---------------------------------------------------------
JAPAN Forward reports that in 2025, 900 restaurants went bankrupt,
up six from the previous year and the highest total on record. This
marked the third consecutive year of rising bankruptcies, according
to figures released on January 13 by private research firm Teikoku
Databank, JAPAN Forward relays. The firm said that rising food and
energy costs, along with higher wages driven by labor shortages,
have squeezed cash flow at many restaurants.
By category, pubs and beer halls, including izakaya, recorded the
most bankruptcies, with 204 cases, JAPAN Forward discloses.
Although this was eight fewer than in 2024, the total has remained
above 200 for three straight years since 2023, highlighting the
sector's continued strain.
JAPAN Forward relates that the second-largest category was Chinese
and other Asian restaurants, including neighborhood Chinese
eateries, ramen shops, yakiniku, and curry restaurants, with 179
bankruptcies. This was a sharp increase of 21 from 2024, setting a
new record. They were followed by Japanese restaurants (97), bars
and cabarets (89), and Western-style restaurants (87).
According to JAPAN Forward, Teikoku Databank said that bankruptcies
were especially common among businesses affected by fewer group
diners, growing consumer frugality, and rising costs for
ingredients and labor.
In contrast, a separate survey released on January 10 focusing
solely on ramen shops found that bankruptcies fell to 59 in 2025,
down from 79 the previous year, JAPAN Forward reports. The firm
said that, while the restaurant industry overall remains under
pressure, ramen shops appear to be entering a turning point after a
period of intense shake-outs.
According to Teikoku Databank, many ramen businesses have
strengthened their operations by expanding soupless noodle
offerings, which reduce soup-related costs, and by using central
kitchens, allowing shops to prepare meals from semi-finished
products, JAPAN Forward relays. These changes make it easier to
remain profitable even with fewer customers.
Of the 59 bankrupt ramen shops, 42.3% had capital of less than JPY1
million (about USD6,300) - a much lower share than in 2019, when
nearly half fell into this category. This suggests that the wave of
small-shop closures is beginning to ease, JAPAN Forward notes.
=====================
N E W Z E A L A N D
=====================
COOPER & CO: Owes NZD514,000 to Creditors
-----------------------------------------
Anne Gibson at NZ Herald reports that the first liquidators' report
on the Auckland Harcourt agency Cooper & Co Real Estate Albany
shows creditor claims of NZD514,000.
Christopher Carey McCullagh and Stephen Mark Lawrence of PKF
Corporate Recovery were appointed liquidators of Cooper & Co Real
Estate Albany Limited on Dec. 10, 2025.
FOXTROT LIMITED: Court to Hear Wind-Up Petition on Feb. 4
---------------------------------------------------------
A petition to wind up the operations of Foxtrot Limited will be
heard before the High Court at Auckland on Feb. 4, 2026, at 10:45
a.m.
The Commissioner of Inland Revenue filed the petition against the
company on Oct. 21, 2025.
The Petitioner's solicitor is:
Cloete van der Merwe
Inland Revenue, Legal Services
5 Osterley Way
Manukau City
Auckland 2104
HOME GROWN: Creditors' Proofs of Debt Due on March 6
----------------------------------------------------
Creditors of Home Grown Kiwi Limited, DS Bathrooms Limited and
Optimise Traffic Solutions Limited are required to file their
proofs of debt by March 6, 2026, to be included in the company's
dividend distribution.
Home Grown Kiwi and DS Bathrooms commenced wind-up proceedings on
Jan. 20, 2026.
Optimise Traffic Solutions commenced wind-up proceedings on Jan.
22, 2026.
The company's liquidators are:
Derek Ah Sam
Paul Vlasic
Rodgers Reidy (NZ)
PO Box 45220
Te Atatu
Auckland 0651
ROCKIT ORCHARD: BDO Auckland Appointed as Administrators
--------------------------------------------------------
Rees Logan and George Bannerman of BDO Auckland on Dec. 22, 2025,
were appointed as Administrators of Rockit Orchard No. 2 Limited
Partnership and Rop2 General Partner Limited.
The Administrators may be reached at:
Rees Logan
George Bannerman
BDO Auckland
Level 4, BDO Centre
4 Graham Street
Auckland 1010
SKK LIMITED: Creditors' Proofs of Debt Due on Feb. 26
-----------------------------------------------------
Creditors of SKK Limited, Amur Development Co Limited, Intrepid
Earth Limited and Central Decorating 2018 Limited are required to
file their proofs of debt by Feb. 26, 2026, to be included in the
company's dividend distribution.
SKK Limited commenced wind-up proceedings on Jan. 13, 2026.
Amur Development Co commenced wind-up proceedings on Jan. 20,
2026.
Intrepid Earth Limited commenced wind-up proceedings on Jan. 21,
2026.
Central Decorating commenced wind-up proceedings on Jan. 22, 2026.
The company's liquidators are:
Adam Botterill
Damien Grant
Waterstone Insolvency
PO Box 352
Auckland 1140
SPRUCE GOOSE: Wellington Cafe to Shut Doors After 12 Years
----------------------------------------------------------
Radio New Zealand reports that Wellington cafe Spruce Goose is
closing its doors after 12 years and a new hospitality venue will
be opening in its place next month.
RNZ relates that the cafe, which is located near and owned by
Wellington Airport, said in a post on social media it wasn't the
way they hoped their chapter would end.
"Unfortunately, we weren't able to secure a new lease, which means
it's the end of the road for us in this space."
According to RNZ, Richard Dalby, Wellington Airport's Commercial
General Manager said Wellington Airport was planning a major
redevelopment of the Lyall Bay waterfront precinct from the Leonie
Gill pathway to the airport.
"This will include a surfers hub, play areas, viewing platforms,
new plantings and improved accessibility," he said.
Mr. Dalby said as part of this an "exciting new hospitality venue"
would be opening in the current Spruce Goose location in February.
"We want to salute the Spruce Goose team for 12 great years and
wish them all the best."
Most people visiting Spruce Goose Jan. 26 that RNZ spoke to were
disappointed to hear the cafe was closing.
Hana and Gloria were surprised by the news, RNZ relays.
"I grew up in Lyall Bay, Kilbirnie, and I used to come here a lot,"
Hana told RNZ. "It's quite sad to know that it's closing."
Abbas owns the BFT gym nearby. He said it was sad news. "This was
our local," he said. "Every Sunday after our Hyrox Sunday sessions,
half my members come here for a coffee and post-workout treat.
"Hopefully they'll move somewhere else. It's a good bunch of
people," he said.
Yvonne, who was heading to the cafe for lunch said the cafe was a
good spot for plane spotters and it was a shame it was closing.
"It's a place that you can bring people to that's a wee bit
different."
RNZ adds that Berry and Kelly said although the cafe would be
missed, it wouldn't affect them much as there were other places
they could go.
Berry said if the landlord needed the premises back, "it was a
valid call."
The cafe's last day of trading will be February 8, RNZ says.
SUMMIT BUILD: Court to Hear Wind-Up Petition on Feb. 24
-------------------------------------------------------
A petition to wind up the operations of Summit Build Group Limited
will be heard before the High Court at Auckland on Feb. 24, 2026,
at 10:00 a.m.
Sticks Building Supplies Limited filed the petition against the
company on Dec. 11, 2025.
The Petitioner's solicitor is:
Oscar Joseph Ward
Urlich Milne Lawyers Limited
Owens Road
Epsom
Auckland 1023
=================
S I N G A P O R E
=================
CVL COSMETICS: Creditors' Proofs of Debt Due on Feb. 20
-------------------------------------------------------
Creditors of CVL Cosmetics Singapore Pte. Ltd. are required to file
their proofs of debt by Feb. 20, 2026, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Jan. 14, 2026.
The company's liquidators are:
Mr. Aaron Loh Cheng Lee
Ernst & Young Solutions LLP
Ms. Ee Meng Yen Angela
EY Corporate Advisors Pte Ltd
c/o One Raffles Quay North Tower 18th Floor
Singapore 048583
KENT RIDGE: Court to Hear Wind-Up Petition on Feb. 6
----------------------------------------------------
A petition to wind up the operations of Kent Ridge Healthcare
Singapore Private Limited will be heard before the High Court of
Singapore on Feb. 6, 2026, at 10:00 a.m.
Singapore Emergency Medical Assistance Private Limited filed the
petition against the company on Jan. 12, 2026.
The Petitioner's solicitors are:
Delta Law Corporation
1 Keong Saik Road
Singapore 089109
PURPOSE LABS: Placed Into Liquidation
-------------------------------------
Mr. Don M Ho and Mr. David Ho Chjuen Meng, of M/s DHA+ pac on Jan.
16, 2026, were appointed as liquidators of Purpose Labs Pte Ltd.
The liquidator may be reached at:
Don M Ho
David Ho Chjuen Meng
M/s DHA+ pac
9 Raffles Place
#08-04 Republic Plaza
Singapore 048619
SMARTCOMM ELECTRONICS: Court Enters Wind-Up Order
-------------------------------------------------
The High Court of Singapore entered an order on Jan. 16, 2026, to
wind up the operations of Smartcomm Electronics Pte. Ltd.
Maybank Singapore Limited filed the petition against the company.
The company's liquidators are:
Gary Loh Weng Fatt
Dev Kumar Harish Nandwani
c/o BDO Advisory
600 North Bridge Road
#23-01 Parkview Square
Singapore 188778
USP GROUP: Court to Hear Scheme of Arrangement on Jan. 30
---------------------------------------------------------
TipRanks reports that USP Group Limited, which is currently under
judicial management in Singapore, has provided an update on court
proceedings related to its proposed scheme of arrangement with
stakeholders. The company remains under a trading suspension that
has been in place since February 2024.
According to TipRanks, the High Court has fixed the hearing for the
company's application concerning its proposed scheme of arrangement
for January 30, 2026, with related legal submissions due by January
26, 2026. TipRanks relates that the outcome of this hearing is
expected to be pivotal for the group's restructuring efforts and
will influence the company's path forward, with further updates to
be issued as material developments arise while trading in its
shares remains suspended.
USP Group Limited provides oil blending and property development
services. The Company, through its subsidiaries, offers the
blending and distribution of diesel and engine oils as well as
provides property holding, development, management and related
services for the residential and commercial sectors throughout
Singapore.
As reported in the Troubled Company Reporter-Asia Pacific in
mid-June, 2024, the High Court of Singapore entered an order on
June 11, 2024, to place USP Group Limited under Judicial
Management. The company's Judicial Manager is Tan Wei Cheong.
YAMATO ASIA: Creditors' Proofs of Debt Due on Feb. 23
-----------------------------------------------------
Creditors of Yamato Asia Pte. Ltd. are required to file their
proofs of debt by Feb. 23, 2026, to be included in the company's
dividend distribution.
The company commenced wind-up proceedings on Jan. 16, 2026.
The company's liquidators are:
Mr. Purandar Janampalli Rao
Ms. Ee Meng Yen Angela
EY Corporate Advisors
c/o One Raffles Quay North Tower 18th Floor
Singapore 048583
*********
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 2026. All rights reserved. ISSN: 1520-9482.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.
Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.
TCR-AP subscription rate is US$775 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance
thereof are US$25 each. For subscription information, contact
Peter Chapman at 215-945-7000.
*** End of Transmission ***