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260424.mbx T R O U B L E D C O M P A N Y R E P O R T E R A S I A P A C I F I C Friday, April 24, 2026, Vol. 29, No. 82 Headlines A U S T R A L I A AUSTRALIAN OCEAN: First Creditors' Meeting Set for April 30 BEECHWOOD HOMES: Goes Into Administration BELL GROUP: Distribution for 1995 and First 1997 Bonds Announced CLICK FRENZY: Founder Says Firm's Collapse 'Saddest Thing Ever' GEELONG ON YARRA: First Creditors' Meeting Set for April 28 GRANGE COMMUNITY: First Creditors' Meeting Set for April 30 MA MONEY 2024-1: Moody's Upgrades Rating on Class F Notes to Ba3 MAALI GROUP: First Creditors' Meeting Set for April 28 METRO FINANCE 2023-2: Moody's Ups Rating on Class F Notes to Ba2 PROGRESS 2026-1: S&P Assigns Prelim. BB(sf) Rating on Class E Notes QUEST PERSONNEL: TAG Buys Company's Assets Following Administration TCC WANNEROO: First Creditors' Meeting Set for May 1 C H I N A CHINA EVERGRANDE: PwC Pays US$166 Million to Settle Audit Probe CHINA VANKE: Wins Backing For Bond Delay Plan, Easing Default Risk DATASEA INC: Completes Redomicile Merger With DIT I N D I A AIR INDIA: Singapore Air Deepens Role at Carrier Amid Record Losses ANTONY ROAD: CARE Lowers Rating on INR41.43cr LT Loan to B- APG SHIMLA: CARE Keeps D Debt Rating in Not Cooperating Category ARYAVANSH LAND: CARE Keeps C Debt Rating in Not Cooperating AZAM RUBBER: CARE Keeps D Debt Ratings in Not Cooperating Category BUILDMATE PROJECTS: CARE Keeps C Debt Rating in Not Cooperating CHOUDHARY BROTHERS: CARE Keeps D Debt Rating in Not Cooperating CRITICAL ACCESS: CARE Keeps B- Debt Rating in Not Cooperating DUGGAL AUTOMOBILES: CARE Keeps B- Debt Rating in Not Cooperating DWARKADHIS PROJECTS: Claims in Insolvency Case Due on April 27 GAJANAN PAPER: Insolvency Resolution Process Case Summary JALAN TRANSOLUTIONS: CARE Keeps D Debt Rating in Not Cooperating JKR SONA: CARE Keeps B- Debt Rating in Not Cooperating Category KAILA DEVI: CARE Keeps B- Debt Rating in Not Cooperating Category KNISS LABORATORIES: CARE Keeps D Debt Ratings in Not Cooperating KUMAR ELECTRICALS: CARE Lowers Rating on INR225cr LT Loan to D LAXMISREE RICEMILL: CARE Keeps D Debt Ratings in Not Cooperating MADHAVARAM CONSTRUCTIONS: CARE Keeps B- Rating in Not Cooperating MAHASHAKTHI CHEMICALS: CARE Keeps D Rating in Not Cooperating MAHESHWAR HYDEL: CARE Keeps D Debt Rating in Not Cooperating MANI SQUARE: CARE Keeps D Debt Ratings in Not Cooperating MAPLE LEAF: CARE Keeps C Debt Rating in Not Cooperating Category MARVELEDGE REALTORS: Insolvency Resolution Process Case Summary MITTAPALLI AGRO PRODUCT: CARE Keeps D Ratings in Not Cooperating MITTAPALLI AGRO: CARE Keeps D Debt Ratings in Not Cooperating NEUROSTAR HOSPITAL: Insolvency Resolution Process Case Summary NIKETAN SAREES: CARE Lowers Rating on INR5cr LT Loan to B- POPULAR GROUP: CARE Keeps D Debt Rating in Not Cooperating PRAVARA RENEWABLE: CARE Keeps D Debt Rating in Not Cooperating SONY RESEARCH: Voluntary Liquidation Process Case Summary TIRUPATI INTERNATIONAL: CARE Keeps B- Rating in Not Cooperating N E W Z E A L A N D BETTER URBAN: Creditors' Proofs of Debt Due on May 19 CHANCE VOIGHT: Investors Face 'Substantial Shortfall,' PwC Says HONEYMOON AVENUE: Matcha Bar Placed Into Liquidation HYUN DAE: Court to Hear Wind-Up Petition on May 7 LHK PROPERTY: Creditors' Proofs of Debt Due on May 14 N D & J L THORNE: Court to Hear Wind-Up Petition on May 25 ROBINSONS GARAGE: Creditors' Proofs of Debt Due on May 6 S I N G A P O R E AI SOCIAL: Court Enters Wind-Up Order ASTRA WOMEN'S: Creditors' Proofs of Debt Due on May 20 AUTHENTICK HOLDINGS: Creditors' Proofs of Debt Due on May 22 CLASSIC CONSUMER: Court to Hear Wind-Up Petition on May 15 JJR MARKETING: Court to Hear Wind-Up Petition on May 15 - - - - - ================= A U S T R A L I A ================= AUSTRALIAN OCEAN: First Creditors' Meeting Set for April 30 ----------------------------------------------------------- A first meeting of the creditors in the proceedings of Australian Ocean Biotechnology Pty Ltd and Abtas Marketing Pty Ltd will be held on April 30, 2026, at 2:00 p.m. via virtual meeting. Justin Howlett and Andrew MacNeill of SMB Advisory were appointed as administrators of the company on April 20, 2026. BEECHWOOD HOMES: Goes Into Administration ----------------------------------------- Illawarra Mercury reports that Beechwood Homes (NSW) has entered voluntary administration, following months of growing financial turmoil and site delays. In February, Beechwood Homes, a 40-year-old NSW residential builder with 15,000+ homes to its name, faced winding-up proceedings in the Supreme Court of Victoria, according to TrustSignal. Water and energy supplier Kingspan sought a court order to liquidate the company. TrustSignal says homeowners across the Illawarra, Newcastle, and Sydney regions faced uncertainty about whether their homes would ever be completed. Beechwood Homes -- http://www.beechwoodhomes.com.au/-- is an Australian owned family home building company that was started in the early 1980s. BELL GROUP: Distribution for 1995 and First 1997 Bonds Announced ---------------------------------------------------------------- Bell Group N.V. (now deregistered) (the "Issuer") A$75,000,000 11 per cent. Guaranteed Convertible Subordinated Bonds due 1995 (CH0005575151) (the "1995 Bonds") A$175,000,000 10 per cent. Guaranteed Convertible Subordinated Bonds due 1997 (XS0000001247) (the "First 1997 Bonds") GBP75,000,000 5 per cent. Guaranteed Convertible Subordinated Bonds due 1997 (GB0040901711) (the "Second 1997 Bonds") (together, the "Bonds", and the holders of the Bonds, the "Bondholders") Unconditionally guaranteed on a subordinated basis by The Bell Group Ltd. (now deregistered) ("TBGL") This notice is given by Madison Pacific Trust Limited as trustee for the Bondholders (the Reference is made to (i) the Trust Deeds dated 20 December 1985, 7 May 1987 and 14 July 1987 constituting the Bonds (as amended and supplemented from time to time. the Deeds"), (ii) deed polls dated 7 March 2024 and 8 April 2024 modifying the Trust Deeds (the "Deed Polls") and (iii) the Trustee's previous notices to the Bondholders (the "Trustee's Notices"). All terms and expressions used but not otherwise defined in this notice shall have the meanings given to them in the Trust Deeds, the Decd Polls or the Trustee's Notices, as applicable. NOTICE IS HEREBY GIVEN that: A. Update regarding distribution to Bondholders of the Second 1997 Bonds Further to the Trustee's Notice dated March 11, 2026, the Trustee wishes to correct the final amount distributed in respect of the Second 1997 Bonds which was described in such notice as the Second 1997 Bonds Distribution. Following a correction on the total holdings with respect to the Second 1997 Bonds as communicated between the Trustee and the ICSDs. The Trustee hereby notifies the Bondholders of the Second 1997 Bonds that the final distribution was made on March 13, 2026 and the amount of such distribution made to the ICSDs for onward payment to the Bondholders of the Second 1997 Bonds pro rata was GBP4985.117.69. For reference purposes, any amounts held in USD were converted into GBP using an FX rate Of GBP/USD1.3422, less any bank charges and fees of the receiving bank. B. Distribution to Bondholders of the 1995 Bonds and First 1997 Bonds The end of the prescription period for both the 1995 Bonds and first 1997 Bonds (as in the Trustee's notice dated February 6, 2026) occurred on April 7, 2026. As of April 7, 2026, the Trustee has not received any contact from any of the remaining Unidentified Bondholders of the 1995 Bonds and First 1997 Bonds. As outlined in the Trustee's notice dated February 6, 2026, following the end of the prescription period for the 1995 Bonds and First 1997 Bonds, any remaining Unidentified Bondholders Of the 1995 Bonds and First 1997 Bonds have lost all rights to claim any further amount in respect of the 1995 Bonds and First 1997 Bonds respectively. In accordance with the Trust Deeds and the Deed Polls, the Trustee intends to retain (the "Retained Amount") with respect to the Bonds which will cover the Trustee s ongoing costs, charges, liabilities and of carrying out its functions and duties (the Trustee Liabilities") already incurred, plus any future Trustee Liabilities. Any surplus remaining following application of the Retained Amount against the Trustee Liabilities "(including any future Trustee Liabilities) will be distributed to the Bondholders where applicable. Following deduction of the Retained Amount, in accordance with the respective Trust Deed and the Deed Poll constituting the 1995 Bonds and the First 1997 Bonds, the Trustee intends to distribute (i) USD9,607968.40 to the ICSDs on April 15, 2026 for onward payment to the Bondholders of the 1995 Bonds pro rata (the "1995 Bonds Distribution"); and (ii) USD5,116,162.87 and AUD9,991,597.67 to the ICSDs on April 15, 2026 for onward payment to the Bondholders of the First 1997 Bonds pro rata (the "First 1997 Bonds Distribution"). The Record Date for both the 1995 Bonds Distribution and First 1997 Bonds Distribution will be April 7, 2026. c. Presentation of Bonds Bondholders whose 1995 Bonds and/or First 1997 Bonds (as applicable) are currently held in the ICSDs need not take any further action in respect of the 1995 Bonds Distribution and/or the First 1997 Bonds Distribution (as applicable). Bondholders whose 1995 Bonds and/or First 1997 Bonds (as applicable) are not held in the ICSDs should note that they will be required to present their 1995 Bonds and/or First 1997 Bonds (as applicable) and re-verification of their 1995 Bonds and/or first 1997 Bonds may be required (as applicable) and they will not receive their share of the distribution until those steps have been completed. Bondholders whose 1995 Bonds and/or First 1997 Bonds (as applicable) are not held in the ICSDs are requested to contact the trustee on or after April 15, 2026, even if they haye previously contacted the Trustee or verified their 1995 Bonds and/or First 1997 Bonds (as applicable) prior to the date of this notice. The above communication is made without prejudice to any and all of the Trustee's rights under the Trust Deeds, all of which are expressly reserved. The Trustee provides the information above for the information of Bondholders, but makes no representation as to the accuracy or completeness thereof and cannot accept any liability for any loss caused by any inaccuracy therein. The Trustee expresses no opinion as to the action (if any) that Bondholders should take in relation to the matters set out above. The Trustee makes no recommendatiorr; and gives no legal or investment advice herein or as to the Bonds generally. Bondholders should take and rely on their own independent legal, financial or other professional advice, and may not rely on advice or information provided to the Trustee, statements as to the legal position included in notices issued by the Trustee relating to the Bonds or otherwise or the views of the frustee expressed herein or otherwise. ISIN numbers appearing herein have been included solely for the convenience of the Bondholders. The Trustee assumes no responsibility for the selection or use ofsuch number and makes no representation as to the correctness of the numbers listed above. 13 April 2026 By the Trustee: Madison Pacific Trust Limited Unit 6B1, 6/F Bank of America Tower 12 Harcourt Road Hong Kong Email: agent@madisonpac.com CLICK FRENZY: Founder Says Firm's Collapse 'Saddest Thing Ever' --------------------------------------------------------------- News.com.au reports that the founder of Australia's pioneering online retail sales event said he is "shattered" and "embarrassed" after the company's shock collapse. According to news.com.au, Grant Arnott, founder of Click Frenzy and Power Retail, shared an emotional social media post this week as he "closed the door for the last time" on the prominent e-commerce venture, while taking a cryptic swipe at a "bad decision" made 10 years ago. "Today I closed this door for the last time," Mr. Arnott wrote on LinkedIn on April 20. "It feels like the saddest thing I've ever had to do. I'm shattered, broken, ashamed and embarrassed but I have been deeply moved by the positive messages and comments I have seen from friends, colleagues, and partners over the past few weeks. Thank you all so much, it's been a challenge to keep up with responding but I will get back to you." Mr Arnott added that "the hardest part to live with is that it was all so unnecessary". "I made a bad choice 10 years ago, one I will regret for the rest of my life, and I own that," he said. "To all who have supported Power Retail, Click Frenzy and me over the past 15 years, I deeply thank you. To friends and colleagues who haven't seen me in a long time, it's been rough but I'll be back … Now it's time to hang up the white jacket, assist the receivers and get busy on a new existence. AI says wedding singer. I'm intrigued." Click Frenzy, founded in 2012 as Australia's answer to the US Cyber Monday sales, and Power Retail, an online news and industry events business, were both placed into liquidation in late March after a secured creditor called in receivers, news.com.au notes. Chris Johnson and Andrew McCabe of Wexted Advisors were appointed receivers and managers for both businesses, which have a combined annual revenue of around AUD7 million. Frank Lo Pilato and Adam Cormack of RSM Australia were appointed liquidators. News.com.au says the receivers were "seeking urgent expressions of interest" to buy the businesses, with final binding offers due on Friday, April 17. Mr. McCabe told news.com.au on April 23 "short-listed parties are undertaking due diligence" and receivers were "targeting sale completion in the next three to four weeks". Frank Lo Pilato and Adam Cormack of RSM Australia were appointed liquidators of the company on March 30, 2026 GEELONG ON YARRA: First Creditors' Meeting Set for April 28 ----------------------------------------------------------- A first meeting of the creditors in the proceedings of Geelong On Yarra Pty Ltd will be held on April 28, 2026, at 2:00 p.m. via Zoom. Scott Andersen of Worrells was appointed as administrator of the company on April 16, 2026. GRANGE COMMUNITY: First Creditors' Meeting Set for April 30 ----------------------------------------------------------- A first meeting of the creditors in the proceedings of The Grange Community Centre Incorporated will be held on April 30, 2026, at 11:00 a.m. via virtual meeting. Ben te Wierik of BTW Advisory was appointed as administrator of the company on April 20, 2026. MA MONEY 2024-1: Moody's Upgrades Rating on Class F Notes to Ba3 ---------------------------------------------------------------- Moody's Ratings (Moody's) has upgraded the rating on Class F Notes issued by Perpetual Corporate Trust Limited as trustee of MA Money Residential Securitisation Trust 2024-1. The affected rating is as follows: Issuer: MA Money Residential Securitisation Trust 2024-1 Class F Notes, Upgraded to Ba3 (sf); previously on Oct 17, 2024 Definitive Rating Assigned B2 (sf) A comprehensive review of all credit ratings for the respective transaction(s) has been conducted during a rating committee. RATINGS RATIONALE The upgrade was prompted by an increase in credit enhancement available to the affected notes and collateral performance to date. No action was taken on the remaining rated classes in the deal as credit enhancement remains commensurate with the current rating for the respective notes. Following the March 2026 payment date, credit enhancement (including the retention amount ledger) available for the Class F Notes has increased to 3.2% from 1.5% at closing. Principal collections have been distributed on a sequential basis starting from the Class A1L and A2 Notes. Current outstanding pool balance as a percentage of the closing pool balance is 48.7%. As of end-Feb 2026, 4.8% of the outstanding pool was 30-plus days delinquent and 3.4% was 90-plus days delinquent. The deal has not incurred any losses to date. Based on the observed performance to date and loan attributes, Moody's have updated Moody's expected loss assumption to 2.3% of the outstanding pool balance (equivalent to 1.1% of the original pool balance) from 1.95% of the outstanding pool balance (equivalent to 1.4% of the original pool balance) at the last rating action in July 2025. Moody's have maintained Moody's MILAN CE assumption at 12.2%. The transaction is an Australian RMBS secured by a portfolio of residential mortgage loans, originated by MA Money Financial Services Pty Ltd, an Australian non-bank mortgage lender. A portion of the portfolio consists of loans extended to borrowers with impaired credit histories or made on a limited documentation basis. The principal methodology used in this rating was "Residential Mortgage-Backed Securitizations" published in October 2024. Factors that would lead to an upgrade or downgrade of the rating: Factors that could lead to an upgrade of the rating include (1) performance of the underlying collateral that is better than Moody's expectations and (2) an increase in credit enhancement available for the notes. Factors that could lead to a downgrade of the rating include (1) performance of the underlying collateral that is worse than Moody's expectations, (2) a decrease in credit enhancement available for the notes and (3) a deterioration in the credit quality of the transaction counterparties. MAALI GROUP: First Creditors' Meeting Set for April 28 ------------------------------------------------------ A first meeting of the creditors in the proceedings of Maali Group Pty Ltd will be held on April 28, 2026, at 10:00 a.m. via virtual meeting. Robert Brauer and Linda Smith of McGrathNicol were appointed as administrators of the company on April 15, 2026. METRO FINANCE 2023-2: Moody's Ups Rating on Class F Notes to Ba2 ---------------------------------------------------------------- Moody's Ratings has upgraded the ratings on four classes of notes issued by Metro Finance 2023-2 Trust. The affected ratings are as follows: Issuer: Metro Finance 2023-2 Trust Class C Notes, Upgraded to Aa2 (sf); previously on Jul 29, 2024 Upgraded to A1 (sf) Class D Notes, Upgraded to A2 (sf); previously on Jun 17, 2025 Upgraded to A3 (sf) Class E Notes, Upgraded to Baa3 (sf); previously on Jul 29, 2024 Upgraded to Ba1 (sf) Class F Notes, Upgraded to Ba2 (sf); previously on Jun 17, 2025 Upgraded to Ba3 (sf) A comprehensive review of all credit ratings for the respective transaction(s) has been conducted during a rating committee. RATINGS RATIONALE The upgrades were prompted by an increase in credit enhancement available for the Class C and Class E Notes and Moody's revised pool performance assumptions reflecting the collateral performance to date. No action was taken on the remaining rated classes in the deal as credit enhancement remains commensurate with the current rating for the respective notes. Following the March 2026 payment date, the note subordination available for the Class C and Class E Notes has increased to 8.9% and 3.2% respectively, from 7.4% and 2.7% at the time of the last rating action for these notes in July 2024. The note subordination available for the Class D and Class F Notes was unchanged at 6.7% and 2.6% respectively, from the time of the last rating action for these notes in June 2025. Principal collections have been distributed on a pro-rata basis among all notes since the February 2025 payment date. Following the March 2026 payment date, the total outstanding notes as a percentage of the total closing balance is 37.5%. As of end-February 2026, 1.2% of the outstanding pool was 30-plus days delinquent and 0.6% was 90-plus days delinquent. The portfolio has incurred 0.7% (as a percentage of the original portfolio balance) of gross losses to date, all of which have been covered by excess spread. Based on the observed performance to date and loan attributes, Moody's have lowered Moody's expected default assumption to 1.7% of the outstanding pool balance (equivalent to 1.3% of the original pool balance) from 2.1% of the outstanding pool balance (equivalent to 1.5% of the original pool balance) at the time of the last rating action in June 2025. Moody's also lowered Moody's Aaa portfolio credit enhancement ("PCE") assumption to 11% from 13.5%, and increased Moody's recovery rate assumption to 45% from 40%. Moody's analysis has also considered various scenarios involving different mean default rates, PCE, and recovery rates to evaluate the resiliency of the note ratings. The transaction is a cash securitisation of auto loans and leases originated by Metro Finance Pty Limited and extended to prime commercial obligors located in Australia. The principal methodology used in these ratings was "Moody's Global Approach to Rating Auto Loan- and Lease-Backed ABS" published in June 2025. Factors that would lead to an upgrade or downgrade of the ratings: Factors that could lead to an upgrade of the ratings include (1) performance of the underlying collateral that is better than Moody's expectations, and (2) an increase in the notes' available credit enhancement. Factors that could lead to a downgrade of the ratings include (1) performance of the underlying collateral that is worse than Moody's expectations, (2) a decrease in the notes' available credit enhancement, and (3) a deterioration in the credit quality of the transaction counterparties. PROGRESS 2026-1: S&P Assigns Prelim. BB(sf) Rating on Class E Notes ------------------------------------------------------------------- S&P Global Ratings assigned its preliminary ratings to six classes of prime residential mortgage-backed securities (RMBS) to be issued by Perpetual Trustee Co. Ltd. as trustee for Progress 2026-1 Trust. Progress 2026-1 Trust is a securitization of prime residential mortgages originated by AMP Bank Ltd. S&P said, "The preliminary ratings reflect our view of the credit risk of the underlying collateral portfolio, and the credit support provided to each class of rated notes are commensurate with the ratings assigned. Credit support is provided by subordination, lenders' mortgage insurance (LMI) and excess spread, if any. Our assessment of credit risk considers AMP Bank's underwriting standards and approval process, which are consistent with industrywide practices, the servicing quality of AMP Bank, and the support provided by the LMI policies on 11.5% of the portfolio. "We believe the rated notes can meet timely payment of interest and ultimate payment of principal under the rating stresses. Key rating factors are the level of subordination provided, the LMI cover, the mechanism for trapping excess spread into an excess reserve, the provision of a liquidity facility, and the provision of an income reserve--funded by AMP Bank at closing to cover extraordinary expenses--sized at a level consistent with the ratings. All rating stresses are made on the basis that the trust does not call the notes at or beyond the first call-option date, and that all rated notes must be fully redeemed via the principal waterfall mechanism under the transaction documents. "Our ratings also consider the counterparty exposure to Australia and New Zealand Banking Group Ltd. and MUFG Bank Ltd. as bank account provider and AMP Bank as liquidity facility provider. The transaction documents include downgrade remedies consistent with our counterparty criteria. The legal structure of the trust is established as a special-purpose entity and meets our criteria for insolvency remoteness." Preliminary Ratings Assigned Progress 2026-1 Trust Class A, A$690.000 million: AAA (sf) Class AB, A$28.575 million: AAA (sf) Class B, A$14.100 million: AA (sf) Class C, A$7.425 million: A (sf) Class D, A$3.450 million: BBB (sf) Class E, A$3.225 million: BB (sf) Class F, A$3.225 million: Not rated QUEST PERSONNEL: TAG Buys Company's Assets Following Administration ------------------------------------------------------------------- Staffing Industry Analysts (SIA) reports that Australia-based Talent Acquisition Group (TAG) announced the acquisition of selected assets of Quest Personnel. It follows Quest Personnel's entry into voluntary administration on March 16, 2026. The administration process was managed by EY-Parthenon. According to the report, the sale agreement was executed on April 21, with completion scheduled for April 27. The transaction includes the transfer of client contracts, a majority of the active workforce and selected operational staff. SIA reached out to TAG for further comment. The company confirmed that the price was not disclosed, adding that it had close to AUD60 million (USD42.9 million) in revenue and 500 casual workers across Australia. SIA relates that TAG said the acquisition supports its continued growth strategy and strengthens its workforce solutions capability across Australia. The company's national workforce will increase to about 5,000 employees, expanding its scale and ability to support clients across multiple sectors and locations. Services will continue uninterrupted, with consistent account management and operational delivery, TAG noted. Participating clients will continue on existing or improved commercial terms and conditions. At the same time, TAG has confirmed that all Quest Personnel's employee entitlements, including superannuation, will be honoured for transitioning staff members, SIA relays. SIA adds that the company noted that employees and field staff will gain access to streamlined onboarding, improved rostering and payroll systems, and enhanced day-to-day support. "This acquisition is fundamentally about stability - protecting jobs, supporting clients and ensuring continuity of service. We are pleased to welcome both clients and employees to TAG and to provide a seamless transition with no disruption to operations," Pascal Gouel, managing director of TAG, said in a press release. According to SIA, Quest Personnel administrator Martie Tziotis said the objective throughout the administration process was to deliver an outcome that maximised value for stakeholders while preserving employment and service continuity. "This transaction with TAG achieves that outcome, providing certainty for clients and a strong platform for the workforce moving forward," Mr. Tziotis added. About Quest Personnel Quest Personnel focuses on labour hire, recruitment and workforce management. Morgan Kelly, Stewart McCallum and Martie Tziotis of Ernst & Young were appointed as administrators of the company on March 16, 2026. TCC WANNEROO: First Creditors' Meeting Set for May 1 ---------------------------------------------------- A first meeting of the creditors in the proceedings of TCC Wanneroo Pty Ltd (trading as "Coffee Club Wanneroo" & "Coffee Club Park Center") will be held on May 1, 2026, at 9:00 a.m. via virtual meeting only. Mervyn Jonathan Kitay of Worrells WA was appointed as administrator of the company on April 20, 2026. ========= C H I N A ========= CHINA EVERGRANDE: PwC Pays US$166 Million to Settle Audit Probe --------------------------------------------------------------- Bloomberg News reports that PricewaterhouseCoopers LLP agreed to pay HK$1.3 billion (US$166 million) in fines and compensation to settle investigations into its auditing work for the collapsed property giant China Evergrande Group. According to Bloomberg, Hong Kong's Accounting and Financial Reporting Council also imposed a six-month suspension on the firm, barring it from accepting or performing audit work for new listed clients. The watchdog also levied a HK$300 million fine. In a parallel agreement with the Securities and Futures Commission, PwC HK committed to paying HK$1 billion into a fund dedicated to compensating eligible independent minority shareholders of Evergrande. Bloomberg relates that the SFC said that the agreement resolves the matter "fully and finally" without an admission of liability by PwC. The regulator confirmed it will take no further action against the firm, provided all terms of the agreement are met. Bloomberg says the measures come as the firm attempts to rebuild in the wake of Beijing's earlier record fine over its audit work on China Evergrande. That triggered an exodus of state‑owned enterprise clients, major Chinese companies and even Hong Kong regulators, along with staff departures. PwC China, which covers Hong Kong, audited Evergrande, while its mainland partnership, known as PwC Zhong Tian, worked with Hengda Real Estate Group, Evergrande's mainland unit, Bloomberg recalls. PwC was Evergrande's auditor for more than a decade until it resigned in January 2023, due to what the developer said were audit-related disagreements. While Evergrande is based in China, it's regulated in Hong Kong because its stock used to trade in the financial hub. In addition, the AFRC issued a public reprimand to PwC and two of its former partners and registered responsible persons. The audit firm also needs to provide periodic updates and reports to the AFRC regarding its remedial actions for 12 months, as well as arrange training. "The outcomes reached with the AFRC and SFC conclude regulatory matters related to the Evergrande audits from over five years ago with no impact for our existing clients," Hemione Hudson, chair and CEO of PwC China, said in a statement, Bloomberg relays. According to Bloomberg, the regulatory climate has shifted significantly following the collapse of China Evergrande Group. Its founder, Hui Ka Yan, pleaded guilty to bribery, embezzlement, and fraud in April. In 2024, Beijing accused the developer of inflating revenue by more than CNY560 billion ($82 billion), in one of the nation's biggest accounting frauds. PwC was subsequently fined CNY441 million and suspended in China for six months. PwC "turned a blind eye" to Evergrande's fraud, the Chinese securities regulator has said. PwC disregarded clear evidence of premature revenue recognition, knowingly permitting unsupported consolidation adjustments, and failed to exercise professional skepticism despite multiple red flags and to maintain audit independence, Hong Kong's audit watchdog said. Bloomberg notes that audit firms typically pay regulatory fines out of their own reserves because professional indemnity insurance generally doesn't cover these penalties. Partners can be asked to contribute the rest, based on each firm's policies. These costs can be higher in Hong Kong since PwC's partnership there was registered with unlimited liability, whereas China's was limited. Meanwhile, a lawsuit by China Evergrande's liquidators seeking to claw back funds from PwC is set to reach its first public court hearing in May, nearly two years after it was filed. About China Evergrande China Evergrande Group is an integrated residential property developer. The Company, through its subsidiaries, operates in property development, investment, management, finance, internet, health, culture, and tourism markets. China Evergrande Group, the second largest real estate developer in China, and certain of its affiliates sought creditor protection in the United States under Chapter 15 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 23-11332) on Aug. 17, 2023. Evergrande, widely known as the most leveraged company in the world, and its affiliates are asking the U.S. Bankruptcy Court for the Southern District of New York for recognition of foreign proceedings as "foreign main" proceeding under Chapter 15. Evergrande is in the midst of a highly complex restructuring of around $20 billion in offshore debt. In total, the Company has more than $300 billion in liabilities. Evergrande is incorporated in the Cayman Islands as an exempted company with limited liability, with its principal place of business located at 15th Floor, YF Life Centre, 38 Gloucester Road, Wanchai, Hong Kong. It is subject to a restructuring proceeding entitled In the Matter of China Evergrande Group, concerning a scheme of arrangement between Evergrande and certain Scheme Creditors pursuant to the relevant provisions of the Hong Kong Companies Ordinance (Chapter 622 of the Laws of Hong Kong), currently pending before the High Court of Hong Kong (Case Number HCMP 1091/2023. Affiliate Tianji Holding Limited is incorporated in Hong Kong as a limited liability company, with its principal place of business located at 17th Floor, One Island East, Taikoo Place, 18 Westlands Road, Quarry Bay, Hong Kong. Tianji is subject to a restructuring proceeding entitled In the Matter of Tianji Holding Limited, concerning a scheme of arrangement between Tianji and certain Scheme Creditors, pursuant to the relevant provisions of the Hong Kong Companies Ordinance and currently pending before the Hong Kong Court (Case Number HCMP 1090/2023). Affiliate Scenery Journey Limited is incorporated in the British Virgin Islands as a limited liability company, with its principal place of business located at 2nd Floor Water's Edge Building, Wickham's Cay II, Road Town, Tortola, BVI. Scenery Journey is subject to a restructuring proceeding entitled In the Matter of Scenery Journey Limited, concerning a scheme of arrangement between Scenery Journey and certain Scheme Creditors, pursuant to section 179A of the BVI Business Companies Act, 2004, and currently Pending before the High Court of the Eastern Caribbean Supreme Court (Case sNumber BVIHCOM 2023/0076). U.S. Bankruptcy Judge Michael E Wiles presides over the Chapter 15 proceedings. Sidley Austin is the Hong Kong Counsel to Evergrande and Tianji. Maples BVI is the British Virgin Island Counsel to Scenery Journey. On Jan. 29, 2024, a Hong Kong court ordered the liquidation of China Evergrande Group. CHINA VANKE: Wins Backing For Bond Delay Plan, Easing Default Risk ------------------------------------------------------------------ Bloomberg News reports that China Vanke won enough creditor backing to extend payments on a yuan bond due April 23 for a year, easing the embattled developer's risk of an imminent default, at least for now. Under the proposal, the cash-strapped company would repay 40 per cent of the principal of two billion yuan bond upfront and postpone the remainder by one year, Bloomberg relates. All participating bondholders at the meeting voted in favour of the extension plan, which needed more than the 90 per cent support for passage, according to a public filing to the Shanghai Clearing House on April 21. According to Bloomberg, the approval gives Vanke, one of China's last major developers to avoid debt failure so far, some breathing room as it strains under the weight of more than US$50 billion of interest-bearing liabilities amid an unprecedented real estate market slump. It would also allow Vanke to await guidance from regulators on the broader restructuring. Bloomberg says the company faces more than CNY11 billion of bond maturities in the coming months, with five onshore notes, including the April 23 bond, and two put options that could be exercised before the end of July. Bloomberg relates that the extension passage comes after a key bondholder said last week that while it did not oppose the framework of the plan, it wanted better repayment protection for the extended portion of the bond. Earlier this year, Vanke got bondholder approval to extend three of its other yuan bonds after offering similar terms to repay 40 per cent of the principal on those notes, recalls Bloomberg. Company representatives held meetings last month with selected holders of the April bond, and told creditors that it was considering a larger plan that would include longer-term extensions of debt. Vanke has been contending with a liquidity crunch for more than two years and has leaned heavily on shareholder loans from Shenzhen Metro Group. This support has waned since late last year, although a loan agreement in January showed Shenzhen Metro has not entirely abandoned the developer. It remains unclear whether there would be any further support from Shenzhen Metro to help address the builder's upcoming bond maturities in the months ahead, Bloomberg adds. About China Vanke China Vanke Co., Ltd. operates real estate development businesses. The Company provides housing renovation, housing loans, real estate brokerage, and other businesses. China Vanke also operates logistics, material supply, and other businesses. Fitch Ratings, in February 2026, upgraded China Vanke Co., Ltd.'s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to 'CC' from 'RD' following the completion of what Fitch views as a distressed debt exchange (DDE) in accordance with its Corporate Rating Criteria. The IDRs reflect China Vanke's post-restructuring profile. Fitch also affirmed the Long-Term IDR on China Vanke's wholly owned subsidiary, Vanke Real Estate (Hong Kong) Company Ltd (Vanke HK), at 'CC'. Fitch has also affirmed Vanke HK's senior unsecured rating and the rating on its outstanding senior notes at 'C', with a Recovery Rating of 'RR5'. Moody's Ratings, on Dec. 30, 2025, downgraded the following ratings of China Vanke Co., Ltd. and its wholly-owned subsidiary, Vanke Real Estate (Hong Kong) Company Limited -- (1) China Vanke's corporate family rating (CFR) to Ca from Caa2; (2) Backed senior unsecured rating on the medium-term note (MTN) program of Vanke Real Estate to (P)C from (P)Caa3; and (3) Backed senior unsecured rating on the bonds issued by Vanke Real Estate to C from Caa3. Moody's have also maintained the negative outlooks of the entities. S&P Global Ratings, on Dec. 23, 2025, lowered its long-term issuer credit rating on China Vanke Co. Ltd. to 'SD' from 'CCC-'. S&P affirmed its 'CCC-' long-term issuer credit rating on its subsidiary Vanke Real Estate (Hong Kong) Co. Ltd. (Vanke HK) and its 'CCC-' long-term issue ratings on Vanke HK's senior unsecured notes. At the same time, S&P removed the ratings from CreditWatch, where they were placed with negative implications on Nov. 27, 2025. DATASEA INC: Completes Redomicile Merger With DIT ------------------------------------------------- Datasea Inc. disclosed in a regulatory filing that the redomicile of the Company to the British Virgin Islands through a merger between the Company and Datasea Intelligent Technology Ltd., a business company incorporated under the laws of the BVI and a wholly-owned subsidiary of the Company, became effective on April 15, 2026. Upon completion of the Redomicile Merger, each one share of the Company's common stock, $0.001 par value per share, held by stockholders immediately prior to the effective time will be converted into the right to receive one Class A ordinary share of DIT with no par value, except that the 2,000,000 shares of common stock of the Company held by each of Zhixin Liu and Fu Liu immediately prior to the effective time will be converted into 2,000,000 Class B ordinary shares of DIT with no par value, respectively. Datasea will cease to exist, and DIT will become the surviving company upon the effective date. On April 15, 2026, DIT Class A Ordinary Shares will begin trading on the Nasdaq Capital Market under the trading symbol "DTSS", the same symbol as the common stock of the Company. The CUSIP number for DIT Class A Ordinary Shares is G2659M104. About Datasea Headquartered in Beijing, People's Republic of China, Datasea Inc. -- http://www.dataseainc.com-- is a technology company incorporated in Nevada, USA, on Sept. 26, 2014, with subsidiaries and operating entities located in Delaware, US, and China. The company provides acoustic business services (focusing on high-tech acoustic technologies and applications such as ultrasound, infrasound, and Schumann resonance), 5G application services (5G AI multimodal digital business), and other products and services to various corporate and individual customers. Los Angeles, California-based Kreit & Chiu CPA LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated Sept. 26, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, citing that the Company has suffered recurring losses from operations, negative working capital, and accumulated deficit, which raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $8.64 million in total assets, $5.17 million in total liabilities, and a total stockholders' equity of $3.47 million. ========= I N D I A ========= AIR INDIA: Singapore Air Deepens Role at Carrier Amid Record Losses ------------------------------------------------------------------- Bloomberg News reports that Singapore Airlines (SIA) is deepening its operational involvement in Air India, as the carrier battles record losses and recent safety lapses draw increasing concern, according to sources familiar with the matter. Bloomberg relates that SIA has moved some of its employees into Air India, placing its executives in key roles across flight operations, engineering and maintenance in recent months – areas where the Singaporean carrier has long been considered a global benchmark, said the sources, who asked not to be identified as they are not allowed to speak to the media. While relying on its minority shareholder for operational support, Tata Group, which owns 74.9 per cent of Air India, is focusing on commercial, human resources, finance and information technology functions, the sources said. The shift, the sources said, marks a notable escalation in SIA's engagement since the deadly Dreamliner crash, moving it from a strategic partner to a far more hands-on presence inside India's flag carrier, Bloomberg relays. Singapore Airlines stepped up its involvement last year with engineering and has since then expanded across other functions at Air India. "We have been working closely with our partner Tata Sons to support Air India's transformation programme" since the Singaporean carrier became a significant minority partner in the carrier, a spokesperson for Singapore Airlines said, Bloomberg relays. The representative declined to comment on specific queries on Air India's finances and operations. Spokespersons for Tata Sons, the group's holding firm, and Air India did not comment on e-mailed queries. According to Bloomberg, the deeper role comes at a time when Air India's revival, one of the most ambitious turnaround efforts in global aviation, is proving far more complex and costly than the Tata Group expected when it won the bid to acquire the airline from the Indian government in 2021. With losses swelling to roughly US$2.4 billion last year, repeated regulatory lapses, and a series of external shocks disrupting operations, Singapore Airlines now has both the incentive and the urgency to step in, Bloomberg says. Its own earnings have been hit by Air India's performance, and the South-east Asian carrier is keen to check further deterioration of its 25.1 per cent stake. The airline earlier said that losses from associated companies, mostly from Air India, were SGD178 million in the December quarter but that it's "firmly committed" to working with Tata to support Air India's transformation. The lack of visibility on when Air India can turn a profit is an issue of growing worry for Singapore Airlines, the sources, as cited by Bloomberg, said. But poor financial performance is not the only challenge facing Air India, Bloomberg notes. It's contending with setbacks including aircraft flown without airworthiness certificates, European regulators flagging compliance issues, and the plane crash that forced the airline to cut services and triggered closer scrutiny of engineering practices. Geopolitical disruptions, from the closure of Pakistani airspace to the conflict in the Middle East, have further inflated costs by forcing longer, more expensive routes at a time of surging jet fuel prices, says Bloomberg. Bloomberg adds that SIA CEO Goh Choon Phong and Tata Group chairman Natarajan Chandrasekaran met in Mumbai last week to discuss a funding road map and the search for a new CEO after Campbell Wilson announced his resignation, the Economic Times newspaper reported. About Air India Air India Ltd -- http://www.airindia.com/-- offers passenger and cargo air transportation services. It operates a wide range of aircraft under three categories, namely, wide body, narrow body Air India Express, and Alliance Air. Air India also offers cargo handling and accommodation services. The company serves domestic and international destinations in Asia-Pacific, Europe, Africa, the Middle East, and North America. The company also provides aircraft maintenance and engineering support services. Air India is owned by the Tata Group (74.9%) and Singapore Airlines (25.1%). Air India reported consolidated annual net losses of INR10,859 crore, INR4,444 crore and INR11,387 crore for the financial years 2025, 2024 and 2023, respectively. ANTONY ROAD: CARE Lowers Rating on INR41.43cr LT Loan to B- ----------------------------------------------------------- CARE Ratings has revised the ratings on certain bank facilities of Antony Road Transport Solutions Private Limited (ARTSPL), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 41.43 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category and Downgraded from CARE B; Stable Rationale & Key Rating Drivers CARE Ratings Limited (CareEdge Ratings) had, vide its press release dated February 5, 2025, placed the rating(s) of ARTSPL under the 'issuer non-cooperating' category as ARTSPL had failed to provide information for monitoring of the rating and as agreed to in its Rating Agreement. ARTSPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 22, 2025, January 1, 2026, January 11, 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 assigned to the bank facilities of ARTSPL have been revised on account of non-availability of requisite information. Analytical approach: Standalone Outlook: Stable Incorporated in 2010 by Mr. Jimmy Kallarakkal and Mr. Edison Thomas, Antony Road Transport Solutions Private Limited (ARTSPL) is engaged in providing public bus transport services in cluster no. 7 of New Delhi. ARTSPL is an SPV (Special Purpose Vehicle) incorporated by Antony Garages Private Limited (AGPL) so as to operate the bid won by the latter on September 3, 2012, from the Department of Transport, Delhi (DoT) to run the buses in cluster no. 7 of New Delhi. ARTSPL belongs to the Antony Group and is a subsidiary of AGPL which is engaged in the body building of buses, tempos, trucks and other commercial vehicles; and providing public bus transport services in Pune. APG SHIMLA: CARE Keeps D Debt Rating in Not Cooperating Category ---------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of APG Shimla University (ASU) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 46.81 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated February 28, 2025, placed the rating(s) of ASU under the 'issuer non-cooperating' category as ASU had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. ASU continues to be non-cooperative despite repeated requests for submission of information through e-mails dated January 14, 2026, January 24, 2026, February 3, 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). Analytical approach: Standalone Outlook: Not Applicable APG Shimla University (ASU) is an educational trust formed in November 2004 by Mr Pramod Goyal and his brother Mr Rajesh Goyal with an objective to provide education services. The campus is located in Shimla, spread over an area of 88 acres with all modern facilities and latest available technology. ASU is providing post-graduation, graduation and diploma courses like engineering, management, hotel management, architecture, journalism, law, arts, fashion designing and mass communication. ASU has started its first academic session in September 2012. ASU has four group concerns. ARYAVANSH LAND: CARE Keeps C Debt Rating in Not Cooperating ----------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Aryavansh Land Infratech Private Limited (ALIPL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 7.45 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 February 12, 2025, placed the rating(s) of ALIPL under the 'issuer non-cooperating' category as ALIPL had failed to provide information for monitoring of the rating and as agreed to in its Rating Agreement. ALIPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 29, 2025, January 08, 2026, January 18, 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). Analytical approach: Standalone Outlook: Not Applicable Raipur (Chhattisgarh) based ALIPL is a Private Limited Company incorporated in 2012, ALIPL has been promoted by Mr. Lakshmi Jaiswal, Ms.Meera Jaiswal, Mr. Sumit Jaiswal and Mr. Sandeep Jaiswal. All the directors have an average experience of more than three decades in the diversified industries. ALIPL has purchased the Hotel Raipur Inn (HRI) in July, 2014 from Mr. Anand Sharma and Mr. Sunil Sharma. AZAM RUBBER: CARE Keeps D Debt Ratings in Not Cooperating Category ------------------------------------------------------------------ CARE Ratings said the ratings for the bank facilities of Azam Rubber Products Limited (ARPL) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 51.98 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Short Term Bank 30.80 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated February 14, 2025, placed the rating(s) of ARPL under the 'issuer non-cooperating' category as ARPL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. ARPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 31, 2025, January 10, 2026, January 20, 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). Analytical approach: Standalone Outlook: Not Applicable Incorporated in 1994, ARPL is promoted by Mr Mohd Azam Khan. The company is engaged in manufacturing of footwear including hawai slippers, sandals and sports shoes among others and has two manufacturing units located at GIDA (Gorakhpur Industrial Development Authority), Gorakhpur, Uttar Pradesh. BUILDMATE PROJECTS: CARE Keeps C Debt Rating in Not Cooperating --------------------------------------------------------------- CARE Ratings said the ratings for the bank facilities of Buildmate Projects Private Limited (BPPL) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 10.74 CARE C; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Short Term Bank 9.00 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 February 25, 2025, placed the rating(s) of BPPL under the 'issuer non-cooperating' category as BPPL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. BPPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated January 11, 2026, January 21, 2026, January 31, 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). Analytical approach: Standalone Outlook: Stable Buildmate Projects Private Limited was incorporated in the year 1991 and promoted by Mr.Kesava Reddy and Mrs. Jayasree. The company is engaged in manufacturing and supply of equipments for AAC (Autoclaved Aerated Concrete) Plants used in construction industry. It usually takes up an entire project on turnkey basis, i.e., from manufacturing of the machinery to installation (which includes erection, commissioning, installation among others) at customers' place. The company has an installed capacity for setting up seven plants per annum. CHOUDHARY BROTHERS: CARE Keeps D Debt Rating in Not Cooperating --------------------------------------------------------------- CARE Ratings said the ratings for the bank facilities of Choudhary Brothers Agri Exports Private Limited (CBAEPL) continue 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. (CareEdge Ratings) had, vide its press release dated February 28, 2025, placed the rating(s) of CBAEPL under the 'issuer non-cooperating' category as CBAEPL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. CBAEPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated January 14, 2026, January 24, 2026, February 3, 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). Analytical approach: Standalone Outlook: Not Applicable Jaipur (Rajasthan) based Choudhary Brothers Agri Exports Private Limited (CBAEPL) was incorporated in 2015 by Mr. Amandeep Tarar and Mr. Om Prakash Tarar, with an objective to primarily engage in trading of different agricultural commodities including guar seeds, barley, guar gum, mustard seeds, pulses and wheat CRITICAL ACCESS: CARE Keeps B- Debt Rating in Not Cooperating ------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Critical Access Health Services & Research Center Private Limited (CAHSRCPL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 8.50 CARE B-; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated February 18, 2025, placed the rating(s) of CAHSRCPL under the 'issuer non-cooperating' category as CAHSRCPL had failed to provide information for monitoring of the rating as to in its Rating Agreement. CAHSRCPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated January 4, 2026, January 14, 2026, January 24, 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). Analytical approach: Standalone Outlook: Not Applicable Incorporated on March 12, 2010, Critical Access Health Services & Research Centre Private Ltd (CAHSRCPL) is promoted by Dr. Sudeep Sangwan and Dr. Smt. Krishna Sangwan. CAHSRCPL plans to setup a 100 bedded multi-specialty hospital at Panipat, Haryana by December 2016 of which 50 beds are already operational since May 2015. The hospital is a multispecialty hospital and trauma centre along with value added services mainly comprising of 10 bedded ICU, OPD, 2 Operating rooms/ Labour room, Imaging department with Spiral CT scan, X-ray, ultrasound machine, theatre sterile supply unit, Mammography, Laboratory services. DUGGAL AUTOMOBILES: CARE Keeps B- Debt Rating in Not Cooperating ---------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Duggal Automobiles (DA) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 7.00 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated February 18, 2025, placed the rating(s) of DA under the 'issuer non-cooperating' category as DA had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. DA continues to be non-cooperative despite repeated requests for submission of information through e-mails dated January 4, 2026, January 14, 2026, January 24, 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). Analytical approach: Standalone Outlook: Stable Duggal Automobiles (DA), based in Gurdaspur, Punjab, was established as a proprietorship concern by Mr. Navneet Kumar Duggal in 1980. DA is the authorized dealer of Hero MotoCorp Limited (Two-wheeler division) with its office located in Gurdaspur, Punjab. DWARKADHIS PROJECTS: Claims in Insolvency Case Due on April 27 -------------------------------------------------------------- Debtor: Dwarkadhis Projects Private Limited Registered Office: Building No-3, Kh. No.-385, Plot No.-2, 100ft Road, Ghitomi, MG Road, Delhi - 110030 Corporate Office: 250, 2nd Floor, JMD Megapolis, Sector-48, Gurgaon - 122018 (H.R.) Insolvency Commencement Date: The order was pronounced by the Honorable NCLT Delhi Bench II on March 6, 2024 and was uploaded on NCLT Portal on March 7, 2024. Court: National Company Law Tribunal, New Delhi Bench Estimated date of closure of insolvency resolution process: The process of CIRP was stayed by Honorable NCLT vide its order on March 20, 2024. Insolvency professional: Lekh Raj Bajaj Interim Resolution Professional: Lekh Raj Bajaj 107 Agarwal Prestige Mall, Adjoining to M2K, Pitampura, Delhi - 110034 Tel: 98101 09335 Email: lekharajbajaj@rediffmail.com cirp.ddppl@gmail.com Last date for submission of claims: April 27, 2026 GAJANAN PAPER: Insolvency Resolution Process Case Summary --------------------------------------------------------- Debtor: Gajanan Paper Mills Pvt Ltd. Plot No. B 10, 11 & 12, MIDC Area, Village Dasarkhed, Buldhana, Malkapur, Maharashtra, India, 443112 Insolvency Commencement Date: April 6, 2026 Court: National Company Law Tribunal, Mumbai Bench Estimated date of closure of insolvency resolution process: July 5, 2026 Insolvency professional: Mahendra Prasad Jindal Interim Resolution Professional: Mahendra Prasad Jindal B-501, Safal Pegasus, 100ft Ring Road, Prahalad Nagar, Ahmedabad, Gujarat - 380015 Email: mpjindal@rediffmail.com gajananirp@gmail.com Last date for submission of claims: April 20, 2026 JALAN TRANSOLUTIONS: CARE Keeps D Debt Rating in Not Cooperating ---------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Jalan Transolutions (India) Limited (JTL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 53.50 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated March 11, 2025, placed the rating(s) of JTIL under the 'issuer non-cooperating' category as JTIL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. JTIL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated January 25, 2026, February 4, 2026, February 14, 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). Analytical approach: Standalone Outlook: Not applicable JTIL [ISIN: INE349X01015] formerly incorporated as Jalan Carriers Private Limited in April, 2003. Subsequently, the constitution of the company changed to a Public Limited Company in January 30, 2008. The company provides logistics services primarily to two-wheeler companies. Headquarter of the company is situated in Delhi with 25 branches located in all major cities in India. JTIL has developed pan India operations with owned fleet of over 400 single/multi axle carriers, providing diverse range of logistic services. JKR SONA: CARE Keeps B- Debt Rating in Not Cooperating Category --------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of JKR Sona Mandi Jewellers Private Limited (JSMJPL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 10.00 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated March 13, 2025, placed the rating(s) of JSMJPL under the 'issuer non-cooperating' category as JSMJPL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. JSMJPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated January 27, 2026, February 6, 2026, February 16, 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). Analytical approach: Standalone Outlook: Stable Delhi based JKR Sona Mandi Jewellers Private Limited (JSMJPL) was incorporated in August, 2006 by Mr. Shivam Singla and Mrs. Seema Singla. The company is engaged in manufacturing and wholesale and retail trading of gold and diamond studded jewellery and has a showroom in Delhi's Chandni Chowk. KAILA DEVI: CARE Keeps B- Debt Rating in Not Cooperating Category ----------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Kaila Devi Healthcare Services Private Limited (KDHSPL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long term Bank 12.00 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated February 6, 2025, placed the rating(s) of KDHSPL under the 'issuer non-cooperating' category as KDHSPL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. KDHSPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 23, 2025, January 2, 2026, January 12, 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). Analytical approach: Standalone Outlook: Stable Varanasi based Kaila Devi Healthcare Services Private Limited (KDHSPL), was incorporated in July, 2017. Its commercial operations started with effect from April 1, 2018 the company was incorporated with an aim to operate a diagnostic centre to provide medical services such as automated MRI, CT scan, Ultrasound, X-ray, Mammography etc. KNISS LABORATORIES: CARE Keeps D Debt Ratings in Not Cooperating ---------------------------------------------------------------- CARE Ratings said the ratings for the bank facilities of Kniss Laboratories Private Limited (KLPL) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 4.50 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Long Term/ 3.50 CARE D/CARE D; ISSUER NOT Short Term COOPERATING; Rating continues Bank Facilities to remain under ISSUER NOT COOPERATING category Short Term Bank 2.00 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated January 28, 2025, placed the rating(s) of KLPL under the 'issuer non-cooperating' category as KLPL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. KLPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 14, 2025, December 24, 2025, January 3, 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). Analytical approach: Standalone Outlook: Not Applicable Kniss Laboratories Private Limited (KLPL) was established in 1989 and it was converted into a Private Limited Company on November 17, 1998. KLPL is engaged in manufacturing and marketing of allopathic and ayurvedic formulations. The company procures its major raw materials like Paracetamol and vitamins from local suppliers and exports the same to various countries in Asia and Africa apart from selling it domestically within India. The company markets its drugs in the name of Kniss Laboratories Private Limited. The registered office of the company is located at Ashok Nagar, Chennai and the manufacturing unit is located at Gerugambakkam, Chennai. KUMAR ELECTRICALS: CARE Lowers Rating on INR225cr LT Loan to D -------------------------------------------------------------- CARE Ratings has revised the ratings on certain bank facilities of Kumar Electricals and Power Infra Private Limited (KEPIPL), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 225.00 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category and Downgraded from CARE BB; Stable Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated December 16, 2025, placed the rating of KEPIPL under the 'issuer non-cooperating' category as Kumar Electricals and Power Infra Private Limited had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. Kumar Electricals And Power Infra Private Limited continues to be non-cooperative despite repeated requests for submission of information through e-mails dated October 7, 2025, October 10, 2025, October 29, 2025, November 7, 2025 and December 11, 2025 among others. In line with the extant SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on the basis of the best available information which however, in CARE Ratings Ltd.'s opinion is not sufficient to arrive at a fair rating. Users of this rating (including investors, lenders and the public at large) are hence requested to exercise caution while using the above rating(s). The ratings have been revised as a result of instances of LC devolvement leading to overdrawals in CC account as per the publicly available information. However, CARE ratings have not been able to get independent confirmation from the company and lenders despite CARE's endeavours. Analytical approach: Standalone Outlook: Not applicable as Default rated KEPIPL's liquidity profile is stretched marked by delay in receivables from its customers which further caused liquidity mismatch in the company resulting in devolvement of LC, which was however, regularised within two days. The bank limit utilisation continues to remain high. The maximum utilisation of working capital limits of Canara Bank continued to remain high at 97% in the last three months ended October 2024, with overdrawals in CC account in July 2024, which was however regularised within two days. As on September 30, 2024, cash and cash equivalents including FD stood at 28.08 crore out of which INR27.94 crore is parked as lien marked FD against availed working capital limits in bank, keeping the free cash and cash equivalent at modest level. The current ratio also moderated to 1.52x in FY24 (PY: 2.69X). LAXMISREE RICEMILL: CARE Keeps D Debt Ratings in Not Cooperating ---------------------------------------------------------------- CARE Ratings said the ratings for the bank facilities of Laxmisree Ricemill Private Limited (LRPL) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 5.59 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Short Term Bank 1.05 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated January 30, 2025, placed the rating(s) of LRPL under the 'issuer non-cooperating' category as LRPL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. LRPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 16, 2025, December 26, 2025, January 5, 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). Analytical approach: Standalone Outlook: Not Applicable Laxmi Sree Rice Mill Private Limited (LRPL) was incorporated in November 2013 by taking over their existing partnership firm 'M/s Laxmi Sree Rice Mill' which was into rice milling business since 2006. The company was promoted by Mr. Sanjoy Ghosh and Mr. Chitta Ranjan Ghosh. Since its inception, the company has been engaged in processing and milling of non-basmati rice. The manufacturing facility of the company is located at Birbhum, West Bengal with aggregate installed capacity of 37500 metric ton per annum, which is in the vicinity to a major rice growing area. Mr. Sanjoy Ghosh has around 12 years of experience in rice milling industry, looks after the overall management of the company along with Mr. Chitta Ranjan Ghosh who has 41 years of experience in transportation, construction materials and rice milling industry. MADHAVARAM CONSTRUCTIONS: CARE Keeps B- Rating in Not Cooperating ----------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Madhavaram Constructions (MC) 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. (CareEdge Ratings) had, vide its press release dated February 4, 2025, placed the rating(s) of MC under the 'issuer non-cooperating' category as MC had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. MC continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 21, 2025, December 31, 2025, January 10, 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). Analytical approach: Standalone Outlook: Stable Madhavaram Constructions was setup in 1990 as a partnership firm by Mr. Ranga Rao (Managing Partner) and other friends and relatives. The firm is engaged in construction and sale of residential apartments with all previous and ongoing projects located in Bangalore and Hyderabad. The day-to-day activities of the firm are managed by Mr. Ranga Rao and his partners assisted by team of experienced professionals. The firm is engaged in real estate development activities which include selling of residential and commercial establishment. The firm is currently proposing to undertake construction of residential establishment under the name of 'Serenity'. The total cost proposed to establish 'Serenity' is INR170.50 crore funded by bank cash credit of INR15.00 crore with equity share capital of INR40 crore and balance INR115.50 crore from customer's advances. MAHASHAKTHI CHEMICALS: CARE Keeps D Rating in Not Cooperating ------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Mahashakthi Chemicals and Fertilizers Private Limited (MCFPL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 7.50 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 February 12, 2025, placed the rating(s) of MCFPL under the 'issuer non-cooperating' category as MCFPL had failed to provide information for monitoring of the rating and as agreed to in its Rating Agreement. MCFPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 29, 2025, January 8, 2026, January 18, 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). Analytical approach: Standalone Outlook: Not Applicable Mahashakthi Chemicals and Fertilizers Private Limited (MCFPL), was initially established as a Shree Chamundeswari Fertilizers and Chemicals Private Ltd and renamed as MCFPL. MCFPL was incorporated in November, 2012 and started its commercial operations from January, 2015 is managed by Mr. H.S. Chidananda and other eight directors. MCFPL is engaged in the business of trading and manufacturing of granulated fertilizers and soil conditioner. MCFPL product profile includes NPK (Nitrogen, potassium and phosphorus) of different grades like 17:17:17, 20:20:0, 20:10:10, 18:18:10, 10:20:10, 14:6:21 and 15:05:05. MAHESHWAR HYDEL: CARE Keeps D Debt Rating in Not Cooperating ------------------------------------------------------------ CARE Ratings said the rating for the bank facilities of Shree Maheshwar Hydel Power Corporation Limited (SMHPCL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 451.00 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 March 31, 2018, placed the rating of SMHPCL under the 'issuer non-cooperating' category as SMHPCL had failed to provide the surveillance fees for the rating exercise as agreed to in its Rating Agreement. SMHPCL continues to be non-cooperative despite repeated requests for submission of information through email dated February 11, 2026, February 21, 2026, and March 3, 2026. In line with the extant Securities and Exchange Board of India (SEBI) guidelines, ratings on SMHPCL's long-term bank facilities continue to be denoted as CARE D; ISSUER NOT COOPERATING. Users of this rating (including investors, lenders and public at large) are hence requested to exercise caution while using above rating(s). Analytical approach: Standalone Detailed description of key rating drivers: At the time of the last rating on March 28, 2025, the following was the rating weakness. Key weakness * Delay in debt-servicing obligations: The rating of long-term bank facilities of SMHPCL continues to factor in the ongoing delays in servicing of debt obligations. SMHPCL is setting-up 400 MW (10x40 MW) Maheshwar Hydro Power Project on the river Narmada at Maheshwar near Mandleshwar, Madhya Pradesh. The project was initially conceived for setting up by the Narmada Valley Development Authority (NVDA). Later, it was transferred to erstwhile Madhya Pradesh State Electricity Board (MPSEB) in 1980, before awarding it to S Kumars group (the group) as an Independent Power Project. The group created a special purpose vehicle (SPV) in 1993 in the name of SMHPCL for execution of the project. The project entailed a total estimated cost of ~INR3,939crore (originally INR2,760 crore) to be funded in a debt to equity mix of 70:30. The long-term power purchase agreement (PPA) for the project was signed in 1994 with erstwhile MPSEB (succeeded by M.P. Power Management Co Ltd as holding company for all discoms in M.P). The work on the project which started in 1998-99 was stalled in September 2001 due to withdrawal of certain lenders impacting the financing of the project. Consequently, SMHPCL approached Power Finance Corporation (PFC) for sanction of debt and the work on the project was started again in November 2005. MANI SQUARE: CARE Keeps D Debt Ratings in Not Cooperating --------------------------------------------------------- CARE Ratings said the ratings for the bank facilities of Mani Square Limited (MSL) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 243.50 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Short Term Bank 20.00 CARE D; ISSUER NOT COOPERATING Facilities Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated January 31, 2025, placed the rating(s) of MSL under the 'issuer non-cooperating' category as MSL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. MSL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 17, 2025, December 27, 2025, January 06, 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). Analytical approach: Standalone Outlook: Not Applicable MSL, part of the Kolkata-based Mani Group promoted by Mr. Sanjay Jhunjhunwala, is engaged in the construction, development and maintenance of commercial, retail as well as residential real estate. MAPLE LEAF: CARE Keeps C Debt Rating in Not Cooperating Category ---------------------------------------------------------------- CARE Ratings said the ratings for the bank facilities of Maple Leaf Intelligent Solutions Private Limited (MLISPL) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 1.00 CARE C; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Short Term Bank 6.00 CARE A4; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated February 18, 2025, placed the rating(s) of MLISPL under the 'issuer non-cooperating' category as MLISPL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. MLISPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated January 4, 2026, January 14, 2026, January 24, 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). Analytical approach: Standalone Outlook: Stable Delhi based Maple Leaf Intelligent Solutions Private Limited (MLISPL) was incorporated in August, 2008 by Mrs. Reema Gupta and Mr. Nishant Malhotra. The company is engaged in the trading and installation of security surveillance equipment. MARVELEDGE REALTORS: Insolvency Resolution Process Case Summary --------------------------------------------------------------- Debtor: Marveledge Realtors Private Limited 301-302, Jewel Tower, Survey No. 25/H Lane No. 5, Koregaon Park, Pune - 411001 Insolvency Commencement Date: April 6, 2026 Court: National Company Law Tribunal, Mumbai Bench Estimated date of closure of insolvency resolution process: October 6, 2026 Insolvency professional: Nilesh Rajendra Kothari Interim Resolution Professional: Nilesh Rajendra Kothari A-703, Iskon Riverside, Near Shelaleikh Society, Shahibaug, Ahmedabad, Gujarat - 380004 Email: ip.nkothari@gmail.com 410, 4th Floor, Blue Rose, Industrial Estate, Near Metro Mall, Borivali East, Mumbai, Maharashtra - 400066 Email: ibc.marveledge@gmail.com Last date for submission of claims: April 23, 2026 MITTAPALLI AGRO PRODUCT: CARE Keeps D Ratings in Not Cooperating ---------------------------------------------------------------- CARE Ratings said the ratings for the bank facilities of Mittapalli Agro Products Private Limited (MAPPL) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term/ 32.50 CARE D/CARE D; Rating continues Short Term to remain under ISSUER NOT Bank Facilities COOPERATING category Short Term Bank 7.00 CARE D; Rating continues Facilities to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated February 3, 2025, placed the rating(s) of MAPPL under the 'issuer non-cooperating' category as MAPPL had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. MAPPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 20, 2025, December 30, 2025, January 9, 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). Analytical approach: Standalone revised from Combined CARE has combined financials of three entities of the Mittapalli Agro group namely Mittapalli Agro Products Private Limited (MAPPL), Mittapalli Agro Exports (MAEX) and Mittapalli Agro Enterprises (MAE) since, these said entities are engaged in a similar line of activity and have common promoters along with having significant operational linkages. However, updated information is not available to ascertain financial linkages that warrant a continuation of combined approach. Hence, analytical approach is changed to standalone. Outlook: Not Applicable Mittapalli Agro Products Pvt Ltd (MAPPL) is a part of Mittapalli Agro Group (MAG) which is primarily engaged in the business of exporting of green leaf tobacco since past twenty two years, it is a closely held group by the Mittapalli family of Guntur. The group has been promoted by Mr. Panduranga Rao, the entities of the group include, Mittapalli Agro Products Pvt Ltd (MAPPL), Mittapalli Agro Exports (MAEX) and Mittapalli Agro Enterprises (MAE). The group is currently managed by the promoter's son, Mr. Mittapalli Ramesh (Managing Director) and other family members. Mittapalli Agro Group has a track record of over two decades and is engaged in the business of exporting green leaf tobacco. It procures different varieties of tobacco leaves namely Flue Cured Virginia (FCV) from the tobacco auction board and other varieties like Burely, Light Soil Burely, Air Cured, Sun Cured etc. locally from the farmers and the exports are primarily to countries like USA, Europe and Saudi Arabia. The tobacco leaves after procurement are processed by way of threshing and re-drying which the group gets done on job-work basis. There are many threshing units present in Guntur area with sufficient capacities for processing and grading of tobacco. MITTAPALLI AGRO: CARE Keeps D Debt Ratings in Not Cooperating ------------------------------------------------------------- CARE Ratings said the ratings for the bank facilities of Mittapalli Agro Exports (MAEX) continue to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term/ 15.00 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. (CareEdge Ratings) had, vide its press release dated February 3, 2025, placed the rating(s) of MAEX under the 'issuer non-cooperating' category as MAEX had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. MAEX continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 20, 2025, December 30, 2025, January 9, 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). Analytical approach: Standalone revised from Combined CARE has combined financials of three entities of the Mittapalli Agro group namely Mittapalli Agro Products Private Limited (MAPPL), Mittapalli Agro Exports (MAEX) and Mittapalli Agro Enterprises (MAE) since, these said entities are engaged in a similar line of activity and have common promoters along with having significant operational linkages. However, updated information is not available to ascertain financial linkages that warrant a continuation of combined approach. Hence, analytical approach is changed to standalone. Outlook: Not Applicable Mittapalli Agro Exports (MAEX) is a part of Mittapalli Agro Group (MAG) which is is primarily engaged in the business of exporting of green leaf tobacco since past twenty two years, it is a closely held group by the Mittapalli family of Guntur. The group has been promoted by Mr. Panduranga Rao, the entities of the group include, Mittapalli Agro Products Pvt Ltd (MAPPL), Mittapalli Agro Exports (MAEX) and Mittapalli Agro Enterprises (MAE). The group is currently managed by the promoter's son, Mr. Mittapalli Ramesh (Managing Director) and other family members. Mittapalli Agro Group has a track record of over two decades and is engaged in the business of exporting green leaf tobacco. It procures different varieties of tobacco leaves namely Flue Cured Virginia (FCV) from the tobacco auction board and other varieties like Burely, Light Soil Burely, Air Cured, Sun Cured etc. locally from the farmers and the exports are primarily to countries like USA, Europe and Saudi Arabia. The tobacco leaves after procurement are processed by way of threshing and re-drying which the group gets done on job-work basis. There are many threshing units present in Guntur area with sufficient capacities for processing and grading of tobacco. NEUROSTAR HOSPITAL: Insolvency Resolution Process Case Summary -------------------------------------------------------------- Debtor: Neurostar Hospital Private Limited Flat No. C/104, Sundaram, S. No. 80/2, Manjari BK, Pune - 412307 Insolvency Commencement Date: April 9, 2026 Court: National Company Law Tribunal, Mumbai Bench Estimated date of closure of insolvency resolution process: October 6, 2026 Insolvency professional: Purusottam Behera Interim Resolution Professional: Purusottam Behera Flat No. 402, Sai Prasad Building, Sion Kamgar CHS, Road No. 29, Sion (East), Mumbai - 400022 Email: purusosbbj@yahoo.com 410, 4th Floor, Blue Rose, Industrial Estate, Near Metro Mall, Borivali East, Mumbai, Maharashtra - 400066 Email: ibc.neurostarhospital@gmail.com Last date for submission of claims: April 23, 2026 NIKETAN SAREES: CARE Lowers Rating on INR5cr LT Loan to B- ---------------------------------------------------------- CARE Ratings has revised the ratings on certain bank facilities of Shree Niketan Sarees Private Limited (SNSPL), as: Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long term Bank 5.00 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category and Downgraded from CARE B; Stable Rationale and key rating drivers CARE Ratings Limited (CareEdge Ratings) had, vide its press release dated February 5, 2025, placed the rating(s) of SNSPL under the 'issuer non-cooperating' category as SNSPL had failed to provide information for monitoring of the rating and as agreed to in its Rating Agreement. SNSPL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 22, 2025, January 1, 2026, January 11, 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 assigned to the bank facilities of SNSPL have been revised on account of non-availability of requisite information. Analytical approach: Standalone Outlook: Stable Banaras, Uttar Pradesh based SNSPL was incorporated in March 30, 1992 by Mr. Shree Gopal Goel and Me. Praveen Kumar Goel. The company is currently being managed by both the promoters. SNSPL is engaged in manufacturing of ladies garments mainly sarees. POPULAR GROUP: CARE Keeps D Debt Rating in Not Cooperating ---------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Popular Group Mangalore (PGM) continues 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 Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated February 12, 2025, placed the rating(s) of PGM under the 'issuer non-cooperating' category as PGM had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. PGM continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 29, 2025, January 8, 2026, January 18, 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). Analytical approach: Standalone Outlook: Not Applicable Popular Group Mangalore (PGM) was established in the year 2014, as a partnership firm by Mr. B.A. Mohideen, Mr. Abubakar Siddiq, Mr. B.M. Ishaq and Mr. Nurul Ameen Damudi. The partners are qualified graduates and each of the partners has 10-15 years of experience in various field i.e. Constructions and sanitary ware. The firm is planning to construct commercial complex for lease rental purpose. PRAVARA RENEWABLE: CARE Keeps D Debt Rating in Not Cooperating -------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Pravara Renewable Energy Limited (PREL) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 186.08 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 February 7, 2025, placed the rating(s) of PREL under the 'issuer non-cooperating' category as PREL had failed to provide information for monitoring of the rating and as agreed to in its Rating Agreement. PREL continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 24, 2025, January 3, 2026, January 13, 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). Analytical approach: Standalone Outlook: Not Applicable Pravara Renewable Energy Limited (PREL) is a special purpose vehicle, incorporated as a wholly owned subsidiary of Gammon Infrastructure Projects Limited (GIPL), to implement the 30 MW bagasse-based co-generation power project adjacent to the sugar mill of Padmashri Dr. Vithalrao Vikhe Patil, Sahakari Sakhar Karkhana Limited (Karkhana) at Pravaranagar, District Ahmednagar, Maharashtra on Build Own Operate and Transfer basis (BOOT). SONY RESEARCH: Voluntary Liquidation Process Case Summary --------------------------------------------------------- Debtor: Sony Research India Private Limited WeWork Embassy Tech Village Block-L, Devarabisanahalli, Outer Ring Road, Bellandur, Bengaluru - 560103 Liquidation Commencement Date: April 13, 2026 Court: National Company Law Tribunal, Bengaluru Bench Liquidator: Chennur Dwarakanath No. 31, Vidya Bhavan, 3rd Floor, Rear Block, Opposite Karanji Anjaneya Temple West Anjaneya Temple Street Basavanagudi, Bengaluru Karnataka - 560004 Tel No: 080-4120-3012 Email: dwarakanath.c@gmail.com Last date for submission of claims: May 13, 2026 TIRUPATI INTERNATIONAL: CARE Keeps B- Rating in Not Cooperating --------------------------------------------------------------- CARE Ratings said the rating for the bank facilities of Tirupati International (TI) continues to remain in the 'Issuer Not Cooperating' category. Amount Facilities (INR crore) Ratings ---------- ----------- ------- Long Term Bank 4.99 CARE B-; Stable; ISSUER NOT Facilities COOPERATING; Rating continues to remain under ISSUER NOT COOPERATING category Rationale and key rating drivers CARE Ratings Ltd. (CareEdge Ratings) had, vide its press release dated February 3, 2025, placed the rating(s) of TI under the 'issuer non-cooperating' category as TI had failed to provide information for monitoring of the rating as agreed to in its Rating Agreement. TI continues to be non-cooperative despite repeated requests for submission of information through e-mails dated December 20, 2025, December 30, 2025, January 9, 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). Analytical approach: Standalone Outlook: Not Applicable Established as a partnership firm in 2007, Tirupati International (TI) is engaged in trading of papers (i.e. PVC Flex paper, CMYK paper, standy, foam sheet and others) which are widely used for manufacturing various types of banners (in the advertising industry). ===================== N E W Z E A L A N D ===================== BETTER URBAN: Creditors' Proofs of Debt Due on May 19 ----------------------------------------------------- Creditors of Better Urban Living Limited are required to file their proofs of debt by May 19, 2026, to be included in the company's dividend distribution. The company commenced wind-up proceedings on April 17, 2026. The company's liquidator is: Victoria Toon Corporate Restructuring Limited PO Box 10100 Dominion Road Auckland 1446 CHANCE VOIGHT: Investors Face 'Substantial Shortfall,' PwC Says --------------------------------------------------------------- Radio New Zealand reports that a Canterbury investment company appears to have used investors' money to fund personal interests of its director and his family members, while investors face a "substantial shortfall", according to an interim liquidators report. In December 2025, the Financial Markets Authority sought the liquidation of Rangiora-based Chance Voight Investment Corporation Limited (CVICL), and five of its main subsidiaries. According to RNZ, the interim liquidators report by PwC was released on April 22 after the High Court in Christchurch lifted suppression. The report which was dated January 26 recommended the High Court place the companies into liquidation. RNZ relates that PwC said investor funds totalled about NZD54.2 million as at Dec. 10, 2025 (when the interim liquidators were appointed), comprising about NZD50.4 million in debt investments and NZD3.8 million in CVICL equity. PwC said investor interest - and in some cases, redemption payments - were largely funded by new investor money, not investment returns, RNZ relays. Key findings included extensive activity related to Chance Voight director Bernard Whimp's personal interests. "A substantial level of activity and use of investor funds, including via advances to related entities outside of the group, appears to be related to the personal interests of the director and his family members," the interim liquidators report said. It went on to say: "Decision-making within the group is highly centralised to one person (Mr Whimp) with no independent oversight, inadequate governance records, and significant related-party transactions." RNZ says the report highlighted poor financial record keeping practices, with limited management accounting reports, and only recent efforts to prepare consolidated financial statements, and no audit processes. "We believe these issues would persist were control to be returned to the director," the report said. RNZ says the interim liquidators recommended the High Court order the liquidation of further entities related to Chance Voight, including CVI Management Services Limited Partnership, which had Mr. Whimp as the sole limited partner. RNZ relates that the report said this entity received NZD9.2 million in management fees over the last two-and-a-half years, and the dollar figure represented 24 percent of funds received by the group from external investors as at 30 September 2025. Another related entity scrutinised by the interim liquidators was CVI Projects Limited. "Substantial investor funds have been advanced to this entity, much of which appears to relate to the matters/properties of the director and his family's personal interests," the report, as cited by RNZ, said. "No security has been identified as being registered over the properties that appear to have received the benefit of the majority of this funding." About Chance Voight Chance Voight provided financial services, investments (including property investments), and other financial products. As reported in the Troubled Company Reporter-Asia Pacific on Dec. 16, 2025, the Financial Markets Authority (FMA) said it is investigating Chance Voight Investment Corporation Limited, its subsidiaries and persons and entities associated with the Chance Voight Group. Following the FMA seeking appointment of interim liquidators over six Chance Voight entities, the Court has appointed Malcolm Hollis, John Fisk and Lara Bennett of PwC New Zealand as interim liquidators over the 6 entities with effect from Dec. 10, 2025. The interim liquidation comprises the following entities: - Chance Voight Investment Corporation Limited - Chance Voight Investment Partners Limited - CVI Securities Limited - CVI Financial Limited - CVI Partners Mortgage Fund Limited - CVI Partners Mortgage Income Fund Limited HONEYMOON AVENUE: Matcha Bar Placed Into Liquidation ---------------------------------------------------- Stuff.co.nz reports that a matcha bar on Ponsonby Road has been placed into liquidation just five months after opening. Honeymoon Avenue is part of the Auckland hospitality group Namu, which runs several eateries in the city. The bar has not announced its closure publicly; however, the company behind it, Aigo Auckland Limited, had liquidators appointed on April 20, Stuff relates citing Business Desk. On its website, Honeymoon Avenue is described as a place where you will find "all things delightful and sweet". It goes on to say it is a place where "you make memories" which you'll soon look back fondly with nostalgia”. Honeymoon Avenue was the third business Namu had operated on the same Ponsonby Road site since 2022, having previously run a crack chicken eatery there, according to Stuff. Stuff says the bar is the third Namu Group eatery to have closed in the last few months. In March, the Italian restaurant Gemmi and the Korean restaurant Gochu, both located in Commercial Bay, shut up shop. Namu still operates other eateries around Auckland, including Tobi, the Candy Shop, and Dweji. Once flush with bars and restaurants, Ponsonby Road has been hit by a series of hospitality closures in recent years, Stuff notes. Among the more notable closures in recent times were SPQR and Ponsonby Road Bistro. HYUN DAE: Court to Hear Wind-Up Petition on May 7 ------------------------------------------------- A petition to wind up the operations of Hyun Dae Deer Products Limited will be heard before the High Court at Auckland on May 7, 2026, at 10:00 a.m. The Commissioner of Inland Revenue filed the petition against the company on March 24, 2026. The Petitioner's solicitor is: Cloete Van Der Merwe Inland Revenue, Legal Services 5 Osterley Way Manukau City Auckland 2104 LHK PROPERTY: Creditors' Proofs of Debt Due on May 14 ----------------------------------------------------- Creditors of L H K Property Investment Limited are required to file their proofs of debt by May 14, 2026, to be included in the company's dividend distribution. The company commenced wind-up proceedings on April 14, 2026. The company's liquidator is: Mohammed Tazleen Nasib Jan Liquidation Management Limited PO Box 50683 Porirua 5240 N D & J L THORNE: Court to Hear Wind-Up Petition on May 25 ---------------------------------------------------------- A petition to wind up the operations of N D & J L Thorne Limited will be heard before the High Court at Tauranga on May 25, 2026, at 10:00 a.m. The Commissioner of Inland Revenue filed the petition against the company on Jan. 28, 2026. The Petitioner's solicitor is: Timothy Saunders Inland Revenue, Legal Services 21 Home Straight PO Box 432 Hamilton ROBINSONS GARAGE: Creditors' Proofs of Debt Due on May 6 -------------------------------------------------------- Creditors of Robinsons Garage Newlands 1978 Limited are required to file their proofs of debt by May 6, 2026, to be included in the company's dividend distribution. The company commenced wind-up proceedings on April 17, 2026. The company's liquidator is: Yunus Ahmed Musa TFS Chartered Accountants 214 Main Road Tawa, Wellington 5028 ================= S I N G A P O R E ================= AI SOCIAL: Court Enters Wind-Up Order ------------------------------------- The High Court of Singapore entered an order on April 10, 2026, to wind up the operations of AI Social Marketing 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 ASTRA WOMEN'S: Creditors' Proofs of Debt Due on May 20 ------------------------------------------------------ Creditors of Astra Women's Specialists (WB) Pte. Ltd. and SW1 (Vietnam) Pte. Ltd. are required to file their proofs of debt by May 20, 2026, to be included in the company's dividend distribution. The company commenced wind-up proceedings on April 10, 2026. The company's liquidators are: Lin Yueh Hung Goh Wee Teck c/o 8 Wilkie Road #03-08 Wilkie Edge Singapore 228095 AUTHENTICK HOLDINGS: Creditors' Proofs of Debt Due on May 22 ------------------------------------------------------------ Creditors of Authentick Holdings Pte. Ltd. are required to file their proofs of debt by May 22, 2026, to be included in the company's dividend distribution. The company commenced wind-up proceedings on April 15, 2026. The company's liquidators are: Lim Soh Yen Loh Li Er Lydia c/o 133 New Bridge Road #24-01/02 Chinatown Point Singapore 059413 CLASSIC CONSUMER: Court to Hear Wind-Up Petition on May 15 ---------------------------------------------------------- A petition to wind up the operations of Classic Consumer Products Pte. Ltd. will be heard before the High Court of Singapore on May 15, 2026, at 10:00 a.m. RHB Bank Berhad filed the petition against the company on April 16, 2026. The Petitioner's solicitors are: Shook Lin & Bok LLP 1 Robinson Road #18-00, AIA Tower Singapore 048542 JJR MARKETING: Court to Hear Wind-Up Petition on May 15 ------------------------------------------------------- A petition to wind up the operations of JJR Marketing Pte. Ltd. will be heard before the High Court of Singapore on May 15, 2026, at 10:00 a.m. RHB Bank Berhad filed the petition against the company on April 16, 2026. The Petitioner's solicitors are: Shook Lin & Bok LLP 1 Robinson Road #18-00, AIA Tower Singapore 048542 ********* 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 ***