260507.mbx

260507.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 Thursday, May 7, 2026, Vol. 29, No. 91 Headlines A U S T R A L I A ABACUS BAR: Melbourne Restaurant Goes Into Liquidation AUSTRALIAN CANVA: ASIC Fines Group Over Late Financial Reports BASSMID CAPITAL: First Creditors' Meeting Set for May 13 CLICK FRENZY: Leibovich Brothers Plan to Revive Failed Company DALSKI PTY: First Creditors' Meeting Set for May 13 DORAHA PTY: First Creditors' Meeting Set for May 12 JUMP PRIVATE: First Creditors' Meeting Set for May 14 SMARTFLOW SUD: First Creditors' Meeting Set for May 13 C H I N A HIDILI INDUSTRY: Details Debt Talks After Going-Concern Warning I N D I A COMM100 PRIVATE: Voluntary Liquidation Process Case Summary DIAMONDSTAR: CRISIL Keeps D Debt Ratings in Not Cooperating HQ LAMPS: Insolvency Resolution Process Case Summary IMOST ACADEMY: Insolvency Resolution Process Case Summary LARE FIBC: CRISIL Keeps D Debt Ratings in Not Cooperating MANAV VIKAS: CRISIL Moves D Debt Rating to Not Cooperating MULTISAPPHIRE TRADING: Insolvency Resolution Process Case Summary PRASANNA METALS: CRISIL Keeps D Debt Ratings in Not Cooperating R. J. CONSTRUCTION: CRISIL Keeps D Ratings in Not Cooperating R.S. DREAMLAND: CRISIL Keeps D Debt Rating in Not Cooperating RMKV FABRICS: CRISIL Keeps B Debt Rating in Not Cooperating RMKV FASHION: CRISIL Keeps B Debt Rating in Not Cooperating S. M. INTERIOR: CRISIL Keeps D Debt Ratings in Not Cooperating SAFIRE INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating SAI ENGINEERING: CRISIL Keeps B- Debt Ratings in Not Cooperating SAISHRADDHA CEMENTS: CRISIL Keeps B Ratings in Not Cooperating SARAS PLASTICS: CRISIL Keeps D Debt Ratings in Not Cooperating SATYAM AGRO: CRISIL Keeps D Debt Ratings in Not Cooperating SFPL CROP: CRISIL Keeps D Debt Ratings in Not Cooperating Category SIRSA BANSIVAT: CRISIL Keeps D Debt Ratings in Not Cooperating SUGAVANESWARA SPINNING: CRISIL Keeps D Ratings in Not Cooperating SURYODAY COTEX: CRISIL Keeps D Debt Ratings in Not Cooperating TARA FOOTWEARS: CRISIL Keeps B Debt Rating in Not Cooperating TOUGH BAGS: CRISIL Keeps D Debt Ratings in Not Cooperating UTKAL HEALTHCARE: CRISIL Keeps B Debt Rating in Not Cooperating VIDALI ENTERPRISES: CRISIL Keeps D Ratings in Not Cooperating VIMAL BUSINESS: CRISIL Keeps D Debt Ratings in Not Cooperating VIN AUTO: CRISIL Keeps D Debt Ratings in Not Cooperating Category VISHAL RICE: CRISIL Keeps D Debt Ratings in Not Cooperating VISHNU VIDYUTH: CRISIL Keeps D Debt Ratings in Not Cooperating J A P A N NISSAN MOTOR: To Cut 900 Jobs in Europe Amid Restructuring M A L A Y S I A 1MDB: Anti-Graft Agency Vows to Recover More High-Value Art HANDAL ENERGY: Faces Trading Suspension Over Delay in Annual Report N E W Z E A L A N D DBIZ CONTRACTORS: Creditors' Proofs of Debt Due on May 29 DOBBS CONSTRUCTION: Creditors' Proofs of Debt Due on June 3 MODA IN VOGA: Creditors' Proofs of Debt Due on June 29 QUEENSTOWN NURSERY: Court to Hear Wind-Up Petition on May 14 VANILLA PLANT: Court to Hear Wind-Up Petition on May 15 S I N G A P O R E BLACKROCK COMMODITIES: Court to Hear Wind-Up Petition on May 15 HARMON & CO: Court Enters Wind-Up Order HINENI RESOURCES: Court to Hear Wind-Up Petition on May 22 ONEANALYTIX Pte: Court to Hear Wind-Up Petition on May 15 SENG FA: Court Enters Wind-Up Order S O U T H K O R E A HOMEPLUS CO: Union Forgoes Wages to Save Struggling Retailer - - - - - ================= A U S T R A L I A ================= ABACUS BAR: Melbourne Restaurant Goes Into Liquidation ------------------------------------------------------ The Courier Mail reports that Abacus Bar & Kitchen, a popular Melbourne restaurant, has plunged into liquidation owing an estimated AUD2 million-plus to creditors and leaving around 30 staff members with unpaid wages totaling over AUD70,000. The Courier Mail relates that the high-profile sustainability-focused venue closed permanently following industry-wide financial pressures, including rising costs affecting other Chapel Street businesses. AUSTRALIAN CANVA: ASIC Fines Group Over Late Financial Reports -------------------------------------------------------------- The Australian Securities and Investments Commission (ASIC) has issued infringement notices totalling AUD792,000 to four companies within the Australian Canva Group, operator of the global online design and publishing tool Canva, for allegedly failing to lodge their financial reports for the financial year ending December 31, 2024 by the required date. Canva Pty Ltd, Canva Operations Pty Limited, Canva Trading Pty Ltd, and Fusion Books Pty Ltd each paid an infringement notice of AUD198,000 for not lodging their financial reports by the April 30, 2025 due date. Canva Pty Ltd lodged its FY24 consolidated report covering the four companies on March 27, 2026. Payment of an infringement notice is not an admission of guilt or liability, and the companies are not regarded as having been convicted of the alleged offence. The specific reasons for ASIC's concerns are set out in the infringement notice on the Infringement Notices Register. ASIC's infringement notices for FY24 non-compliance Financial reporting misconduct including failure to lodge financial reports is one of ASIC's 2026 enforcement priorities). ASIC has issued, and received payment for, 21 infringement notices worth more than AUD4 million for alleged FY24 financial reporting breaches. This is in addition to court-imposed fines for failing to lodge financial reports and related governance obligations, including more than AUD1.1 million in fines against three public companies in a single day at the Downing Centre Local Court. ASIC's focus on financial reporting in 2026 ASIC remains focused on driving improved compliance by companies and other entities with financial reporting obligations through an ongoing surveillance program and enforcement action. ASIC Commissioner Kate O'Rourke said, 'ASIC is undertaking targeted, data-driven surveillance to identify non‑lodgment and persistent late lodgement of financial reports. 'Companies and other entities with reporting obligations must ensure financial reports are lodged within the required timeframes. Both non-lodgment and late lodgement prevents creditors and other users of the reports from making timely and informed decisions when dealing with these companies and is a failure of their legal obligations. 'In line with our current enforcement priority, ASIC has a number of open investigations into alleged non-lodgment and late lodgement of financial reports, and enforcement action will continue,' Ms O'Rourke said. Companies and other entities with reporting obligations Large proprietary companies are required to prepare and lodge annual financial reports. A proprietary company is classified as large if it meets at least two of the following criteria for a financial year: - the consolidated revenue of the company and any entities it controls is AUD50 million or more - the consolidated gross assets of the company and any entities it controls is AUD25 million or more, and - the company and any entities it controls have 100 or more employees. In addition to large proprietary companies, other entities that are required to prepare and lodge financial reports include public companies, registered managed investment schemes, registrable superannuation entities, and small proprietary companies that are controlled by a foreign company. About Australian Canva Group Canva is an online design and publishing tool. The Australian Canva Group has undergone a corporate restructure since December 31, 2024. For the financial year ending December 31, 2025, Canva Group (Australia) reports through Canva Australia Holdings Pty Ltd. ASIC confirms that Canva Australia Holdings Pty Ltd lodged its FY25 reports on April 30, 2026. BASSMID CAPITAL: First Creditors' Meeting Set for May 13 -------------------------------------------------------- A first meeting of the creditors in the proceedings of Bassmid Capital Holdings Pty Ltd will be held on May 13, 2026, at 11:00 a.m. via Virtual Meeting Facilities. Nelson Huang and Domenico Alessandro Calabretta of Mackay Goodwin were appointed as administrators of the company on May 1, 2026. CLICK FRENZY: Leibovich Brothers Plan to Revive Failed Company -------------------------------------------------------------- StartUp Daily reports that pioneering e-commerce founders Gabby and Hezi Leibovich have swooped on Click Frenzy, acquiring the domain and customer database for an undisclosed amount just a few weeks after the online retailer was placed in administration. According to StartUp Daily, the deal marks the return of the brothers and business partners of Catch.com.au to online retailing following a couple of torrid years in the sector. Click Frenzy, a retailer marketplace founded by Grant Arnott in 2012, reshaped online shopping over a decade as leading retailers signed on for high-profile sales events. The platform predated Amazon's Black Friday sales in Australia by six years. The business, along with media sibling Power Retail, was placed in liquidation in March, with the US/Iran war destroying revenue for a travel sales event in the preceding weeks, StartUp Daily notes. The combined business generated around $7 million in revenue annually. A devastated Mr. Arnott said on LinkedIn that it was "the saddest thing I've ever had to do"." and "he was "shattered, broken, ashamed and embarrassed . . . the hardest part to live with is that it was all so unnecessary." But as SmartCompany reported, he received widespread support from the startup community. Now it's up to the brothers Leibovich to see if they still have the magic touch once again, two decades on, with a much-loved brand, StartUp Daily says. "We're back in the game. Click Frenzy has always been a powerful brand with strong consumer recognition. With a database of 1.5 million engaged shoppers and a substantial SMS audience, we see an opportunity to build something fresh, fast and highly relevant for today's market," StartUp Daily quotes Gabby Leibovich as saying. Their strategy centres on a lean operating model, rapid execution, and a renewed focus on exclusive offers to Australian consumers by Australian retailers and brands. "We have enormous respect for what's been built," said Hezi Leibovich. "Our focus now is to take that foundation and evolve it into something that is new, exciting and valuable for both retailers and customers." They plan to have Click Frenzy up and running again within a month with details on the relaunch, including retailer partnerships and platform features, in the coming weeks, StartUp Daily adds. Frank Lo Pilato and Adam Cormack of RSM Australia were appointed liquidators of Click Frenzy on March 30, 2026. DALSKI PTY: First Creditors' Meeting Set for May 13 --------------------------------------------------- A first meeting of the creditors in the proceedings of Dalski Pty Ltd will be held on May 13, 2026, at 10:30 a.m. via teleconference and video conference only. Aaron Kevin Lucan of Worrells was appointed as administrator of the company on May 4, 2026. DORAHA PTY: First Creditors' Meeting Set for May 12 --------------------------------------------------- A first meeting of the creditors in the proceedings of Doraha Pty Ltd will be held on May 12, 2026, at 11:00 a.m. via Microsoft Teams. Travis Pullen of B&T Advisory was appointed as administrator of the company on May 3, 2026. JUMP PRIVATE: First Creditors' Meeting Set for May 14 ----------------------------------------------------- A first meeting of the creditors in the proceedings of Jump Private Equity Pty Ltd will be held on May 14, 2026, at 11:00 a.m. via Microsoft Teams. Stephen Dixon of HM Advisory was appointed as administrator of the company on May 4, 2026. SMARTFLOW SUD: First Creditors' Meeting Set for May 13 ------------------------------------------------------ A first meeting of the creditors in the proceedings of Smartflow Sud Pty Ltd (Formerly known as Planet Plumbing (VIC) Pty Ltd) will be held on May 13, 2026, at 11:00 a.m. at the offices of HoganSprowles, at Level 1, 44 Pitt Street, in Sydney, NSW and via virtual facilities. Christian Sprowles of HoganSprowles was appointed as administrator of the company on May 1, 2026. ========= C H I N A ========= HIDILI INDUSTRY: Details Debt Talks After Going-Concern Warning --------------------------------------------------------------- TipRanks reports that Hidili Industry International Development Limited has provided a quarterly update on its efforts to resolve the auditors' disclaimer of opinion, which stems solely from going concern concerns. According to TipRanks, the company is negotiating revised repayment terms with a PRC financial institution that acquired debts from Minsheng Bank and Ping An Bank, seeking partial principal waivers, full interest waivers and loan extensions, while talks with other PRC lending banks remain unresolved. TipRanks relates that the company's share placement programme ended on March 31, 2026 without any share sales, obliging Hidili to buy back the placement shares from participating creditors and prompting work with advisers on structures and repayment options. Operationally, raw coal production slipped slightly year on year as only four of eight Guizhou mines were active, but the group has reallocated manpower and materials to cut production costs, tightened administrative spending, and is planning disposals of non-performing assets to bolster cash flow. About Hidili Industry Hidili Industry International Development Ltd. is a Chinese coal mining company. Hidili owns a group of companies engaged in the coal and coke business in China, operating coal mines, and coal washing. Hidili's headquarters are at 16th Floor, Dingli Mansion, No. 185 Renmin Road, Panzhihua, Sichuan 617000, China. Hidili maintains an office at Room 1306, 13th Floor, Tai Tung Building, 8 Fleming Road, Wanchai, Hong Kong, which serves as its principal place of business in Hong Kong. The Group's audited consolidated financial statements for the year Ended Dec. 31, 2021, reflects that the Group's total current assets are US$240.39 million and total non-current assets are US$1,628.51 million, for total assets of US$1,868.90 million. Hidili's audited consolidated financial statements for the year ended Dec. 31, 2021, reflects that the Group's total current liabilities are US$1,674.74 million and total non-current liabilities are US$51.98 million, for total liabilities of US$1,726.72 million. Hidili Industry International Development Ltd. sought Chapter 15 bankruptcy protection (Bankr. S.D.N.Y. Case No. 1:22-bk-10736) on June 10, 2022 to seek recognition of its proceedings before the High Court of Hong Kong Special Administrative Region, Court of First Instance. Chu Lai Kuen, the Chief Financial Officer and Company Secretary of the Company, has been appointed as legal foreign representative to represent the Debtor in the Chapter 15 proceedings. Hidili's U.S. counsel: Stephen M. Wolpert Dechert LLP 212-698-3836 stephen.wolpert@dechert.com ========= I N D I A ========= COMM100 PRIVATE: Voluntary Liquidation Process Case Summary ----------------------------------------------------------- Debtor: Comm100 Private Limited E-41/b, 2nd Floor, Jawahar Park, Laxmi Nagar, East Delhi, New Delhi, Delhi, India, 110092 Liquidation Commencement Date: April 27, 2026 Court: National Company Law Tribunal, New Delhi Bench Liquidator: Soniya Gupta Unit No. 208 and 209, 2nd Floor, Agarwal Dwarka Plaza, Plot No.6, LSC Market, Sector -6, Dwarka, New Delhi - 110075 Tel No: +91 9811287070 Email: ipsoniyag@gmail.com Last date for submission of claims: May 27, 2026 DIAMONDSTAR: CRISIL Keeps D Debt Ratings in Not Cooperating ----------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Diamondstar continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Packing Credit 1.71 CRISIL D (Issuer Not Cooperating) Post Shipment 2.58 CRISIL D (Issuer Not Credit Cooperating) Proposed Short 9.71 CRISIL D (Issuer Not Term Bank Cooperating) Loan Facility Crisil Ratings has been consistently following up with Diamondstar for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of Diamondstar, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on Diamondstar is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of Diamondstar continues to be 'Crisil D Issuer not cooperating'. Diamondstar, set up in 1967, cuts and polishes diamonds. It predominantly deals in large diamonds in shapes such as marquise, pear, and round. The firm has three partners, Mr Rupesh Shah and Mr Nilesh Shah. HQ LAMPS: Insolvency Resolution Process Case Summary ---------------------------------------------------- Debtor: HQ Lamps Manufacturing Co. Private Limited Unit No. 2601, Gold Tower, Wave One, Sector-18 Noida, Gautam Buddha Nagar, Noida, Uttar Pradesh - 201301 Insolvency Commencement Date: Aprl 22, 2026 Court: National Company Law Tribunal, Allahabad Bench Estimated date of closure of insolvency resolution process: October 22, 2026 Insolvency professional: Bihari Lal Chakravarti Interim Resolution Professional: Bihari Lal Chakravarti D-54, 1st Floor, Defence Colony, New Delhi, 110024 Email: blchakravarti.associates@gmail.com cirp.hqlamps@gmail.com Last date for submission of claims: May 9, 2026 IMOST ACADEMY: Insolvency Resolution Process Case Summary --------------------------------------------------------- Debtor: IMost Academy (India) Private Limited Door No. 1/32, Maliakal House, Puthuval Road, Njarakkal, Kerala, India - 682505 Insolvency Commencement Date: Aprl 28, 2026 Court: National Company Law Tribunal, Kochi Bench Estimated date of closure of insolvency resolution process: October 25, 2026 Insolvency professional: AAA Insolvency Professionals LLP Interim Resolution Professional: AAA Insolvency Professionals LLP 64, Okhla Estate Phase III (Near Modi Mill), New Delhi, 110020 Email: info@aaainsolvency.com imostacademy.cirp@gmail.com Last date for submission of claims: May 12, 2026 LARE FIBC: CRISIL Keeps D Debt Ratings in Not Cooperating --------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Lare Fibc and Energies Private Limited (LFEPL) continues to be 'CRISIL D/CRISIL D Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 3 CRISIL D (Issuer Not Cooperating) Inland/Import 1.5 CRISIL D (Issuer Not Letter of Credit Cooperating) Long Term Loan 24.52 CRISIL D (Issuer Not Cooperating) Working Capital 4.98 CRISIL D (Issuer Not Term Loan Cooperating) Crisil Ratings has been consistently following up with LFEPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of LFEPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on LFEPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of LFEPL continues to be 'Crisil D/Crisil D Issuer not cooperating'. LFEPL (formerly known as Tech Sun Energies Pvt Ltd) was incorporated in 2012. The company primarily provided operations and maintenance services in power related industries and petrochemicals industries. In fiscal 2018, it diversified into manufacturing flexible intermediate bulk containers (FIBCs) such as jumbo bags, container liners and small sacks and started its operations in January 2020. Its manufacturing facility is in Tirunelveli, Tamil Nadu. The company is promoted by Mr Mayilvel Ponnusamy and Ms N Ponlakshmi. MANAV VIKAS: CRISIL Moves D Debt Rating to Not Cooperating ---------------------------------------------------------- CRISIL Ratings has migrated the rating on bank facilities of Manav Vikas Evam Sewa Sansthan (MVESS) to 'Crisil D Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Term Loan 2 CRISIL D (Issuer Not Cooperating; Rating Migrated) Crisil Ratings has been consistently following up with MVESS for obtaining information through letter and email dated April 21, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of MVESS, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on MVESS is consistent with 'Assessing Information Adequacy Risk'. Therefore, on account of inadequate information and lack of management cooperation, Crisil Ratings has migrated the rating on bank facilities of MVESS to 'Crisil D Issuer not cooperating'. The Lucknow (Uttar Pradesh)-based society operates as a not-for-profit entity. Operations are managed by Mr Abhay Singh (the chief executive officer). The society, which was set up in 1987, runs several educational, vocational and training institutes under state and central government schemes for under-privileged sections. MULTISAPPHIRE TRADING: Insolvency Resolution Process Case Summary ----------------------------------------------------------------- Debtor: Multisapphire Trading LLP "Jiya", 1st Floor, 2 - Kashivishwanth Plot, Near Harihar Chowk, Rajkot, Gujarat - 360001 Insolvency Commencement Date: Aprl 27, 2026 Court: National Company Law Tribunal, Ahmedabad Bench Estimated date of closure of insolvency resolution process: October 24, 2026 Insolvency professional: Varun Anil Chopra Interim Resolution Professional: Varun Anil Chopra C-1002, Ashirvad Avenue VIP Road, Opposite Shyam Baba Mandir, Althan, Surat, Gujarat, 395007 Email: ipvarunchopra@gmail.com 505, 21st Century Business Centre, Near World Trade Centre, Ring Road, Surat - 395002 Email: cirp.multisapphire@gmail.com Last date for submission of claims: May 11, 2026 PRASANNA METALS: CRISIL Keeps D Debt Ratings in Not Cooperating --------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Sri Prasanna Metals and Alloys (SPMA) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 7.5 CRISIL D (Issuer Not Cooperating) Letter of Credit 1.5 CRISIL D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with SPMA for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SPMA, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SPMA is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of SPMA continues to be 'Crisil D/Crisil D Issuer not cooperating'. SPMA, set up in 2004, is involved in fabrication of structural steel components used in cement factories and sugar mills. Its manufacturing facility is in Vellore (Tamil Nadu). It is promoted by three partners - N Muruganandam, R Manivannan and PS Veeramani. R. J. CONSTRUCTION: CRISIL Keeps D Ratings in Not Cooperating ------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of R. J. Construction (RJC) continue to be 'Crisil D/Crisil D Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Bank Guarantee 0.75 CRISIL D (ISSUER NOT COOPERATING) Cash Credit 6 CRISIL D (ISSUER NOT COOPERATING) Proposed Long Term 1.45 CRISIL D (ISSUER NOT Bank Loan Facility COOPERATING) Term Loan 1.8 CRISIL D (ISSUER NOT COOPERATING) Crisil Ratings has been consistently following up with RJC for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of RJC, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on RJC is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of RJC continues to be 'Crisil D/Crisil D Issuer not cooperating'. Established in 1996, Tamil Nadu-based RJC is owned and managed by R Jayabalan. The firm is engaged in civil construction works, such as construction of bridges and canal, irrigation and electrification works. R.S. DREAMLAND: CRISIL Keeps D Debt Rating in Not Cooperating ------------------------------------------------------------- CRISIL Ratings said the rating on bank facilities of R.S. Dreamland Private Limited (RSDPL) continues to be 'Crisil D Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Rupee Term Loan 12 Crisil D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with RSDPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of RSDPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on RSDPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of RSDPL continues to be 'Crisil D Issuer not cooperating'. RSDPL was established in 2006 by the Mr Kushi Ram Kundnani and is engaged in development of residential property in Raipur, Chhattisgarh. The company is currently engaged in development of a residential project of about 175000 sq ft in the Raipur, Chhatisgarh. RMKV FABRICS: CRISIL Keeps B Debt Rating in Not Cooperating ----------------------------------------------------------- CRISIL Ratings said the rating on bank facilities of Rmkv Fabrics Private Limited (RFPL; part of the RMKV group) continues to be 'Crisil B/Stable Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 18 Crisil B/Stable (Issuer Not Cooperating) Crisil Ratings has been consistently following up with RFPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of RFPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on RFPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of RFPL continues to be 'Crisil B/Stable Issuer not cooperating'. Rmkv Silks Private Limited (RSPL) flagship company of RmKV group, was incorporated in 2011. Mr. K. Sivakumar manages RSPL, Mr. K. Mahesh manages RFGPL and Mr. N. Viswanath manages RFPL. RSPL is engaged in retailing in handloom silk sarees and allied products. RMKV Fashion Garments is engaged in the retailing of readymade garments while RMKV Fabrics is engaged in the retailing of dress materials. The group has 7 showrooms 3 in Chennai, 2 in Tirunelveli and 1 each in Coimbatore and Bengaluru. RMKV FASHION: CRISIL Keeps B Debt Rating in Not Cooperating ----------------------------------------------------------- CRISIL Ratings said the rating on bank facilities of Rmkv Fashion Garment Private Limited (RFGPL; part of the RMKV group) continues to be 'Crisil B/Stable Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 10 Crisil B/Stable (Issuer Not Cooperating) Crisil Ratings has been consistently following up with RFGPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of RFGPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on RFGPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of RFGPL continues to be 'Crisil B/Stable Issuer not cooperating'. Rmkv Silks Private Limited (RSPL) flagship company of RmKV group, was incorporated in 2011. Mr. K. Sivakumar manages RSPL, Mr. K. Mahesh manages RFGPL and Mr. N. Viswanath manages RFPL. RSPL is engaged in retailing in handloom silk sarees and allied products. RMKV Fashion Garments is engaged in the retailing of readymade garments while RMKV Fabrics is engaged in the retailing of dress materials. The group has 7 showrooms 3 in Chennai, 2 in Tirunelveli and 1 each in Coimbatore and Bengaluru. S. M. INTERIOR: CRISIL Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of S. M. Interior Private Limited (SMIPL) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Bank Guarantee 2.7 CRISIL D (Issuer Not Cooperating) Cash Credit 7.0 CRISIL D (Issuer Not Cooperating) Proposed Fund- 0.3 CRISIL D (Issuer Not Based Bank Limits Cooperating) Crisil Ratings has been consistently following up with SMIPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SMIPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SMIPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of SMIPL continues to be 'Crisil D/Crisil D Issuer not cooperating'. Incorporated in 2011, SMIPL provides end-to-end interior design solutions for corporates and for residential projects, and executes civil construction projects, mostly for government departments. The company is promoted by Mr Sahabuddin Molla and Ms Naima Parvin. SAFIRE INDUSTRIES: CRISIL Keeps D Debt Ratings in Not Cooperating ----------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of The Safire Industries (SI; part of the Safire group) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Bank Guarantee 0.5 CRISIL D (Issuer Not Cooperating) Cash Credit 3 CRISIL D (Issuer Not Cooperating) Letter of Credit 1 CRISIL D (Issuer Not Cooperating) Long Term Loan 4.65 CRISIL D (Issuer Not Cooperating) Proposed Working 3 CRISIL D (Issuer Not Capital Facility Cooperating) Crisil Ratings has been consistently following up with SI for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SI, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SI is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of SI continues to be 'Crisil D/Crisil D Issuer not cooperating'. Set up in 1989 by Mr. Ayyanathan, SI is part of the Safire group, which prints film posters, brochures, calendars, text books, and school magazines. Both SI and SOP are based in Sivakasi (Tamil Nadu). SAI ENGINEERING: CRISIL Keeps B- Debt Ratings in Not Cooperating ---------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Sri Sai Engineering and Drilling (SSED) continue to be 'Crisil B-/Stable Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Proposed Long Term 1 CRISIL B-/Stable (ISSUER NOT Bank Loan Facility COOPERATING) Secured Overdraft 9 CRISIL B-/Stable (ISSUER NOT Facility COOPERATING) Crisil Ratings has been consistently following up with SSED for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SSED, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SSED is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of SSED continues to be 'Crisil B-/Stable Issuer not cooperating'. SSED was set up in 1995 as a partnership firm by Mr Prasad Rao and his wife, Ms V Jaya Lakshmi; it is based in Vijayawada (Andhra Pradesh). The firm provides oil and gas exploration services related to seismic surveys and drilling of wells. SAISHRADDHA CEMENTS: CRISIL Keeps B Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Shree Saishraddha Cements Private limited (SSC) continue to be 'Crisil B/Stable Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Long Term Loan 20 CRISIL B/Stable (ISSUER NOT COOPERATING) Proposed Cash 8 CRISIL B/Stable (ISSUER NOT Credit Limit COOPERATING) Crisil Ratings has been consistently following up with SSC for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SSC, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SSC is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of SSC continues to be 'Crisil B/Stable Issuer not cooperating'. SSC was incorporated in February 2010 by Mr Ajay Agarwal and Mr Kisan Daruka. It manufactures AAC blocks, the installed capacity of which is 150,000 cubic metres per annum. SARAS PLASTICS: CRISIL Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Saras Plastics Private Limited (SPPL) continue to be 'Crisil D Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 2.80 Crisil D (Issuer Not Cooperating) Long Term Loan 4.62 Crisil D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with SPPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SPPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SPPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of SPPL continues to be 'Crisil D Issuer not cooperating'. Incorporated in 1991, SPPL is promoted by Mr Prakash Gandhi and his wife Mrs Jayashree Gandhi; it is based in Ahmednagar, Maharashtra. The company manufactures plastic bags used for packaging, and mulch films. SATYAM AGRO: CRISIL Keeps D Debt Ratings in Not Cooperating ----------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Satyam Agro Trade Private Limited (SATPL) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 4 CRISIL D (Issuer Not Cooperating) Letter of Credit 7 CRISIL D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with SATPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SATPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SATPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of SATPL continues to be 'Crisil D/Crisil D Issuer not cooperating'. Established in the year 2015, SATPL is a private limited company engaged in trading of imported spices and pulses. It was also engaged in franchisee sales of the juice brand - 'Onjus' (Tunip Lanka Pvt. Ltd. - 100% subsidiary of Tunip Agro Limited). The company majorly caters to the domestic market. The day-to-day operations of the company are managed by Mr. Arvind Varma and Mrs. Sarla Varma. SFPL CROP: CRISIL Keeps D Debt Ratings in Not Cooperating Category ------------------------------------------------------------------ CRISIL Ratings said the ratings on bank facilities of SFPL Crop Life Science Private Limited (SFPL) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 0.88 CRISIL D (Issuer Not Cooperating) Cash Credit 6.62 CRISIL D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with SFPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SFPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SFPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of SFPL continues to be 'Crisil D Issuer not cooperating'. SFPL was incorporated in 1999 as Subhash Fertilizers Pvt Ltd and was later renamed as SFPL. The company is a fully owned subsidiary of KSPL, which produces and markets seeds for the commercial seed market. SFPL manufactures nitrogen, phosphorus, and potassium mixed fertilizers. It is the sole distributor of hybrid vegetable seeds of group company Krishnadhan Vegetable Seeds India Pvt Ltd across India. SIRSA BANSIVAT: CRISIL Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of The Sirsa Bansivat Labour And Construction Private Limited (Sirsa) continue to be 'CRISIL D/CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Bank Guarantee 2.5 CRISIL D (Issuer Not Cooperating) Bank Guarantee 4.5 CRISIL D (Issuer Not Cooperating) Cash Credit 3.0 CRISIL D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with Sirsa for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of Sirsa, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on Sirsa is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of Sirsa continues to be 'Crisil D/Crisil D Issuer not cooperating'. Set up in 2005, Sirsa offers manpower to various electricity departments in Haryana and Rajasthan. The company has contracts with Dakhin Haryana Bijli Vitran Nigam, Haryana Vidyut Prasaran Nigam Ltd, Uttar Haryana Bijli Vitran Nigam, Ajmer Vidyut Vitran Nigam Ltd, Jodhpur Vidyut Vitran Nigam Ltd, and other government departments. SUGAVANESWARA SPINNING: CRISIL Keeps D Ratings in Not Cooperating ----------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Sugavaneswara Spinning Mills Private Limited (SSMPL) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 6 CRISIL D (Issuer Not Cooperating) Long Term Bank 1.05 CRISIL D (Issuer Not Facility Cooperating) Long Term Loan 6.5 CRISIL D (Issuer Not Cooperating) Working Capital 1.25 CRISIL D (Issuer Not Term Loan Cooperating) Crisil Ratings has been consistently following up with SSMPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SSMPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SSMPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of SSMPL continues to be 'Crisil D Issuer not cooperating'. Managed by Mr. T.Sundaravel, SSMPL started operations in 1981 in Salem (Tamil Nadu). It manufactures cotton yarn in counts ranging from 30s to 80s. SURYODAY COTEX: CRISIL Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Suryoday Cotex Private Limited (SCPL) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 4 CRISIL D (Issuer Not Cooperating) Proposed Long Term 3.12 CRISIL D (Issuer Not Bank Loan Facility Cooperating) Term Loan 0.88 CRISIL D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with SCPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of SCPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on SCPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of SCPL continues to be 'Crisil D Issuer not cooperating'. SCPL, which was set up in 2013, trades in raw cotton in Rajkot (Gujarat). The key promoter, Mr Jaideep Gida has been engaged in the cotton business for close to a decade, through the group company, Suryoday Enterprise. TARA FOOTWEARS: CRISIL Keeps B Debt Rating in Not Cooperating ------------------------------------------------------------- CRISIL Ratings said the rating on bank facilities of Tara Footwears Private Limited (TFPL) continues to be 'Crisil B/Stable Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Proposed Long Term 10 Crisil B/Stable (Issuer Not Bank Loan Facility Cooperating) Crisil Ratings has been consistently following up with TFPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of TFPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on TFPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of TFPL continues to be 'Crisil B/Stable Issuer not cooperating'. Incorporated in 2009, TFPL is engaged in manufacturing of footwear such as slippers, school shoes, casual slippers, ladies slippers etc. Based in New Delhi, TFPL is owned and managed by Mrs. Sneha Gaurav Kakkar and Mr. Gaurav Kakkar. TOUGH BAGS: CRISIL Keeps D Debt Ratings in Not Cooperating ---------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Tough Bags (TB) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 7 CRISIL D (Issuer Not Cooperating) Proposed Cash 1 CRISIL D (Issuer Not Credit Limit Cooperating) Crisil Ratings has been consistently following up with TB for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of TB, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on TB is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of TB continues to be 'Crisil D Issuer not cooperating'. Set-up in 1992 as a proprietorship firm, TB manufactures complementary gifts items such as bags, pouches, shaving kits in rexene. The firm is based in Pykara, Tamil Nadu and promoted by Mrs Lalitha Ramalingam. Her son Mr Palanniappan manages operations. UTKAL HEALTHCARE: CRISIL Keeps B Debt Rating in Not Cooperating --------------------------------------------------------------- CRISIL Ratings said the rating on bank facilities of Utkal Healthcare Private Limited (UHPL) continues to be 'Crisil B/Stable Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Term Loan 45 Crisil B/Stable (Issuer Not Cooperating) Crisil Ratings has been consistently following up with UHPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of UHPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on UHPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of UHPL continues to be 'Crisil B/Stable Issuer not cooperating'. UHPL was incorporated in 2006 and is presently operating a nuclear medicine diagnostic centre by installing the Gamma Camera unit in 2008, under the name of 'Utkal Institute of Medical Science'. Later, in September 2014, the organisation installed a Positron Emission Tomography (PET) scan unit. Operations are managed by Dr. Birendra Kishore Das and Mr. Sailendra Narayan Panda. VIDALI ENTERPRISES: CRISIL Keeps D Ratings in Not Cooperating ------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Vidali Enterprises (VE) continue to be 'CRISIL D Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 4.5 CRISIL D (ISSUER NOT COOPERATING) Long Term Loan 1.5 CRISIL D (ISSUER NOT COOPERATING) Crisil Ratings has been consistently following up with VE for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of VE, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on VE is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of VE continues to be 'Crisil D Issuer not cooperating'. VE was set up as a proprietorship firm of by Mr Vinay Limaye, in 1998. The firm manufactures plastic moulds and containers, at its manufacturing unit in Satara (Maharashtra). VIMAL BUSINESS: CRISIL Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Vimal Business Services Private Limited (Sayona; previously known as Sayona Colors Private Limited) continue to be 'Crisil D/Crisil D Issuer not cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 40 Crisil D (Issuer Not Cooperating) Cash Credit 5 Crisil D (Issuer Not Cooperating) Letter of Credit 32.5 Crisil D (Issuer Not Cooperating) Letter of Credit 7.5 Crisil D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with Vimal Business for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of Sayona, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on Sayona is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the ratings on bank facilities of Sayona continues to be 'Crisil D/Crisil D Issuer not cooperating'. Established in 2004 in Ahmedabad as a proprietorship concern (Sencient India) by Mr. Paresh Patel (key promoter and managing director) and reconstituted as a private limited company (Sencient India Export Pvt Ltd) in 2007, Sayona manufactures synthetic food colours. Name was changed to the current one in 2009. VIN AUTO: CRISIL Keeps D Debt Ratings in Not Cooperating Category ----------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of VIN Auto (VA) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 5 CRISIL D (Issuer Not Cooperating) Channel Financing 5 CRISIL D (Issuer Not Cooperating) Proposed Long Term 2.35 CRISIL D (Issuer Not Bank Loan Facility Cooperating) Term Loan 2.65 CRISIL D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with VA for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of VA, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on VA is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of VA continues to be 'Crisil D Issuer not cooperating'. VA was set up in 2006 by Mr. T Vinay as a partnership firm to undertake the dealership for TML passenger cars; it is based in Tumkur. It has outlets in Tumkur, Tittur, and Chitradurga (all in Karnataka). VISHAL RICE: CRISIL Keeps D Debt Ratings in Not Cooperating ----------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Vishal Rice Exports Private Limited (VREPL) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 2.5 CRISIL D (Issuer Not Cooperating) Proposed Term Loan 0.31 CRISIL D (Issuer Not Cooperating) Term Loan 1.19 CRISIL D (Issuer Not Cooperating) Warehouse Receipts 10.00 CRISIL D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with VREPL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of VREPL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on VREPL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of VREPL continues to be 'Crisil D Issuer not cooperating'. Incorporated in 2012, VREPL is engaged in milling and sorting of 1121 PUSA basmati rice at its facility in Tulewal, Punjab. The facility has installed capacity of 4 tonne per hour and is utilised 75%. VISHNU VIDYUTH: CRISIL Keeps D Debt Ratings in Not Cooperating -------------------------------------------------------------- CRISIL Ratings said the ratings on bank facilities of Vishnu Vidyuth India Limited (VVIL) continue to be 'CRISIL D Issuer Not Cooperating'. Amount Facilities (INR Crore) Ratings ---------- ----------- ------- Cash Credit 4 CRISIL D (Issuer Not Cooperating) Term Loan 26 CRISIL D (Issuer Not Cooperating) Crisil Ratings has been consistently following up with VVIL for obtaining information through letter and email dated March 23, 2026 among others, apart from telephonic communication. However, the issuer has remained non cooperative. 'The investors, lenders and all other market participants should exercise due caution with reference to the rating assigned/reviewed with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived at without any management interaction and is based on best available or limited or dated information on the company. Such non co-operation by a rated entity may be a result of deterioration in its credit risk profile. These ratings with 'ISSUER NOT COOPERATING' suffix lack a forward looking component.' Detailed Rationale Despite repeated attempts to engage with the management, Crisil Ratings failed to receive any information on either the financial performance or strategic intent of VVIL, which restricts Crisil Ratings' ability to take a forward looking view on the entity's credit quality. Crisil Ratings believes that rating action on VVIL is consistent with 'Assessing Information Adequacy Risk'. Based on the last available information, the rating on bank facilities of VVIL continues to be 'Crisil D Issuer not cooperating'. VVIL was set up in December 1999 by Mr B Eshwar Rao and was acquired by Mr Vishnu Rao and his family members in 2010. The company operates a biomass-based power plant in Visakhapatnam. ========= J A P A N ========= NISSAN MOTOR: To Cut 900 Jobs in Europe Amid Restructuring ---------------------------------------------------------- Reuters reports that Nissan Motor will cut about 900 jobs in Europe, around 10% of the total, and consolidate production from two lines to one at its Sunderland plant in the UK as part of a global restructuring drive, the Japanese automaker said on May 5. Reuters relates that the job cuts will focus on white-collar and warehouse roles, a Nissan Europe spokesperson said, adding that the company's current European headcount stands at about 9,300. According to Reuters, the company's sweeping turnaround plan, launched last year under Chief Executive Ivan Espinosa, aims to restore profitability after heavy losses, reduce Nissan's global manufacturing footprint and cut its total workforce by 15%. "We have been taking decisive actions to ⁠enhance performance and create a leaner, more resilient business that adapts quickly to market changes," Nissan said in a statement. In addition to the layoffs, the Nissan Europe spokesperson said the carmaker, Japan's fourth largest, was looking at other moves in Europe, including shifting to a distribution model managed by importer partners in Nordic markets, Reuters relays. "The proposals in the consultation include a headcount reduction across Europe of 900 jobs, the partial closure of our warehouse in Barcelona, and in the Nordics market we are going to change the distribution model," the spokesperson said. "We are also consolidating production in Sunderland plant from two lines to one line, because we are looking for opportunities with our parties to maximize ⁠our plant utilization." A Nissan Spain spokesperson said around 500 people in Spain work in the areas targeted by the layoffs, but added that the final figure will be negotiated with unions in the coming weeks and would likely be lower than that, according to Reuters. "This is a new disappointment by Nissan for which again the only solution that it seeks to adapt to a situation ⁠is to fire workers," Reuters quotes Miguel Ruiz, leader of Spanish Nissan union USOC, as saying. It was too early to know final job loss numbers, he added. In 2020, Nissan shut its main factories in Barcelona affecting around 3,000 jobs, recalls Reuters. A spokesperson for Nissan Manufacturing UK ⁠confirmed that the focus was white-collar roles and said that there would be no production job losses at the Sunderland plant. The Financial Times first reported the job cut plans, Reuters notes. Reuters adds that Nissan is expected to update on the progress of ⁠its restructuring plan when it reports full-year financial results later this month, and has said it will announce further elements of its strategic direction later in the year. About Nissan Motor Japan-based Nissan Motor Co., Ltd. manufactures and distributes automobiles and related parts. The Company produces luxury cars, sports cars, commercial vehicles, and more. Nissan Motor markets its products worldwide. Fitch Ratings, on April 15, 2026, affirmed Nissan Motor Co., Ltd.'s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BB'. The Outlook remains Negative. Fitch has also affirmed Nissan's senior unsecured rating at 'BB' and its Short-Term Foreign- and Local-Currency IDRs at 'B'. S&P Global Ratings, in November 2025, lowered its long-term ratings on Nissan Motor and its overseas subsidiaries to 'BB-' from 'BB' and affirmed its short-term ratings at 'B'. The negative outlook reflects S&P's view that prolonged weak profitability and negative FOCF may further deteriorate the company's creditworthiness. Moody's Ratings, in February 2025, also downgraded to Ba1 from Baa3 the senior unsecured rating for Nissan Motor Co., Ltd. At the same time, Moody's have assigned a Ba1 corporate family rating and withdrawn the company's Baa3 issuer rating. Moody's have also maintained the negative rating outlook. =============== M A L A Y S I A =============== 1MDB: Anti-Graft Agency Vows to Recover More High-Value Art ----------------------------------------------------------- Reuters reports that Malaysia's anti-graft agency vowed on May 6 to recover more high-value artwork linked to the multibillion-dollar 1MDB scandal after putting four recently retrieved works on display at its headquarters. Reuters relates that the Malaysian Anti-Corruption Commission (MACC) successfully repatriated four pieces of artwork last month, including a 1961 Pablo Picasso print, as part of ongoing efforts to recover more than $4.5 billion siphoned from the 1Malaysia Development Berhad state fund between 2009 and 2014 in a complex, globe-spanning scheme. U.S. investigators ⁠have said the funds, allegedly misappropriated by high-level 1MDB officials and their associates, were used to buy everything from luxury hotels to jewelry and artwork. According to Reuters, MACC chief Azam Baki said the four repatriated artworks were being temporarily housed at the commission's headquarters, with Malaysia's National Art Gallery helping to ensure they are kept under proper care and temperature controls. "These artworks are not merely of commercial value, but also stand as historical symbols of the country's ⁠largest corruption scandal," Reuters quotes Azam as saying at press conference on May 6. The four works were valued at around $198,000, MACC said, and include Picasso's "L'Ecuyère et les clowns" (1961), Joan Miró's "Composition" (1953), Maurice Utrillo's "Maison de Rendez-vous de chasse de Henri IV, Rue St. Vincent, Montmartre" (1934) and Balthus' "Étude ⁠pour femme couchée" (1948), Reuters relays. Authorities have said the artworks may go on public display at Malaysia's national art gallery and could then be auctioned for sale. The final decision will ⁠be made by the finance ministry. A total of 12 pieces of artwork linked to 1MDB have been identified, with eight yet to be recovered, ⁠Azam said. To date, Malaysia has recovered about MYR31.3 billion (US$7.9 billion) in assets, representing nearly 75% of all identified properties linked to 1MDB, he said. About 1MDB Kuala Lumpur-based 1Malaysia Development Bhd (1MDB) is an insolvent Malaysian strategic development company, wholly owned by the Malaysian Minister of Finance. 1MDB was established in 2009 to foster long-term economic development for the country by forging global partnerships, particularly in energy, real estate, tourism, and agribusiness. The Company was founded shortly after Dato Sri Najib Razak became Prime Minister of Malaysia in July 2009. Najib said the establishment of 1MDB into a federal entity was to benefit a majority of Malaysians. 1MDB is said to have raised billions of dollars in bonds, for investment projects and joint ventures, between 2009 and 2013. Among those projects are the Tun Razak Exchange, Tun Razak Exchange's sister project Bandar Malaysia, and the acquisition of three independent power producers. The Company came into heavy scrutiny in 2015 for suspicious money transactions and evidence pointing to money laundering, fraud and theft. The corruption scandal in 1MDB has implicated high-level officials, including Prime Minister Najib Razak, as wells as banks and financial institutions around the world. In 2016, the U.S. Department of Justice filed a lawsuit, alleging that at least US$3.5 billion has been stolen from 1MDB. In September 2020, the alleged amount stolen had been raised to US$4.5 billion and a Malaysian government report listed 1MDB's outstanding debts to be US$7.8 billion. In July 2020, the High Court convicted former Prime Najib Razak on all seven counts of abuse of power, money laundering and criminal breach of trust and was sentenced to 12 years imprisonment and fined MYR210 million. Malaysia has been filing lawsuits over the years in an effort to recover the missing billions of dollars. Among others, in May 2021, Malaysia filed 22 civil suits against entities and people involved in the corruption scandal, including units of Deutsche Bank and JP Morgan. Malaysia said in September 2020 it has so far recovered about US$3.24 billion in assets linked to the 1MDB matter. This amount includes about US$600 million cash and assets returned by U.S. authorities; about US$2.5 billion paid by Goldman Sachs as settlement; as well as $780 million in settlement amounts from Malaysian banking group AmBank and audit firm Deloitte. HANDAL ENERGY: Faces Trading Suspension Over Delay in Annual Report ------------------------------------------------------------------- The Malaysian Reserve reports that Handal Energy Bhd is facing a potential suspension of trading in its securities after failing to submit its annual report for the financial year ended Dec. 31, 2025 (FY25) within the stipulated deadline. In a filing on May 5, Bursa Malaysia Securities Bhd said the company did not release its Annual Report 2025, which includes audited financial statements, as well as auditors' and directors' reports, by April 30, 2026, as required under the Main Market Listing Requirements, The Malaysian Reserve relates. Under the rules, listed issuers that fail to issue their outstanding financial statements within five market days after the deadline may face trading suspension. For Handal, this means it must submit the report by May 8, 2026, to avoid suspension. If the company misses this extended deadline, trading in its shares will be suspended from 9:00 a.m. on Monday, May 11, 2026, until further notice, according to The Malaysian Reserve. The Malaysian Reserve adds that Bursa also warned that failure to issue the outstanding financial statements within six months from the original deadline could result in the commencement of delisting procedures against the company. Handal Energy Berhad is a Malaysia-based investment holding company. The Company's business operations include ram luffing cranes, rope luffing cranes, crane rentals, lifting solutions, parts and component supply, manufacturing, and digitalization. ===================== N E W Z E A L A N D ===================== DBIZ CONTRACTORS: Creditors' Proofs of Debt Due on May 29 --------------------------------------------------------- Creditors of DBIZ Contractors Limited are required to file their proofs of debt by May 29, 2026, to be included in the company's dividend distribution. The company commenced wind-up proceedings on April 24, 2026. The company's liquidators are: Jeffrey Philip Meltzer Meltzer Mason, Chartered Accountants PO Box 6302 Victoria Street West, Auckland 1141 DOBBS CONSTRUCTION: Creditors' Proofs of Debt Due on June 3 ----------------------------------------------------------- Creditors of Dobbs Construction Limited are required to file their proofs of debt by June 3, 2026, to be included in the company's dividend distribution. The company commenced wind-up proceedings on April 21, 2026. The company's liquidators are: Iain Bruce Shephard Jessica Jane Kellow BDO Wellington Level 1 50 Customhouse Quay Wellington 6011 MODA IN VOGA: Creditors' Proofs of Debt Due on June 29 ------------------------------------------------------ Creditors of Moda In Voga Limited are required to file their proofs of debt by June 29, 2026, to be included in the company's dividend distribution. The company commenced wind-up proceedings on April 28, 2026. The company's liquidators are: Christopher Carey McCullagh Stephen Mark Lawrence PKF Corporate Recovery & Insolvency (Auckland) Limited PO Box 3678 Auckland 1140 QUEENSTOWN NURSERY: Court to Hear Wind-Up Petition on May 14 ------------------------------------------------------------ A petition to wind up the operations of Queenstown Nursery Limited will be heard before the High Court at Invercargill on May 14, 2026, at 11:45 a.m. Waimea Plant Propagation Limited filed the petition against the company on March 24, 2026. The Petitioner's solicitor is: Miranda Gray Tavendale and Partners Level 3, 329 Durham Street North Christchurch 8140 VANILLA PLANT: Court to Hear Wind-Up Petition on May 15 ------------------------------------------------------- A petition to wind up the operations of Vanilla Plant Based Kitchen Limited will be heard before the High Court at Auckland on May 15, 2026, at 10:45 a.m. The Commissioner of Inland Revenue filed the petition against the company on March 26, 2026. The Petitioner's solicitor is: Cloete Van Der Merwe Inland Revenue, Legal Services 5 Osterley Way Manukau City Auckland 2104 ================= S I N G A P O R E ================= BLACKROCK COMMODITIES: Court to Hear Wind-Up Petition on May 15 --------------------------------------------------------------- A petition to wind up the operations of Blackrock Commodities (Global) Limited will be heard before the High Court of Singapore on May 15, 2026, at 2:30 P.m. The Petitioner's solicitors are: Oon & Bazul LLC 36 Robinson Rd #08-01/06 City House Singapore 068877 HARMON & CO: Court Enters Wind-Up Order --------------------------------------- The High Court of Singapore entered an order on April 24, 2026, to wind up the operations of Harmon & Co Pte. Ltd. Maybank Singapore Limited filed the petition against the company. The company's liquidators are: Mr. Gary Loh Weng Fatt Mr. Dev Kumar Harish Nandwani c/o BDO Advisory Pte. Ltd. 600 North Bridge Road #23-01 Parkview Square Singapore 188778 HINENI RESOURCES: Court to Hear Wind-Up Petition on May 22 ---------------------------------------------------------- A petition to wind up the operations of Hineni Resources Pte. Ltd. will be heard before the High Court of Singapore on May 22, 2026, at 10:00 a.m. WL International Pte Ltd filed the petition against the company on April 29, 2026. The Petitioner's solicitors are: Joseph Tan Jude Benny LLP 168 Robinson Road #18-02, Capital Tower Singapore 068912 ONEANALYTIX Pte: Court to Hear Wind-Up Petition on May 15 --------------------------------------------------------- A petition to wind up the operations of ONEANALYTIX Pte. Ltd. (formerly known as ONEANALYTIKS Pte. Ltd.) will be heard before the High Court of Singapore on May 15, 2026, at 10:00 a.m. ONEEMPOWER Pte Ltd (formerly known as ONELOYALTY.COM Pte Ltd) filed the petition against the company on April 24, 2026. The Petitioner's solicitors are: Covenant Chambers LLC 8 Eu Tong Sen Street #12-96 Clarke Quay Central (Office 1) Singapore 059818 SENG FA: Court Enters Wind-Up Order ----------------------------------- The High Court of Singapore entered an order on April 24, 2026, to wind up the operations of Seng Fa Piling Pte. Ltd. JAK Trading Pte. Ltd filed the petition against the company. The company's liquidators are: Mr. Lau Chin Huat Mr. Yeo Boon Keong c/o Technic Inter-Asia Pte Ltd 50 Havelock Road #02-767 Singapore 160050 ===================== S O U T H K O R E A ===================== HOMEPLUS CO: Union Forgoes Wages to Save Struggling Retailer ------------------------------------------------------------ The Chosun Daily reports that the Homeplus General Union announced on April 30 that more than 1,400 of its members would forgo their monthly wages. On the same day, Seoul Rehabilitation Court decided to extend the deadline for approving Homeplus' rehabilitation plan by two more months, originally set for May 4. The Chosun Daily relates that with the company now having two additional months to prepare its rehabilitation plan, the union has declared its willingness to sacrifice wages—the fruits of labor—to support the process. In a statement released that day, the union said, "To ensure the sustainability of Homeplus, we are forgoing our wages, the fruits of our labor, and urge that the funds be fully allocated to normalizing operations and supplying goods. This is the most painful sacrifice workers can make to save the company," The Chosun Daily relays. The Homeplus General Union is a symbolic entity in South Korea's retail industry. Established in 1997 as the Carrefour Korea Union, it will mark its 30th anniversary next year. It was the first union established among the country's three major supermarket chains - E-Mart, Lotte Mart, and Homeplus - and was once considered a militant union. About Homeplus Co Homeplus Co. operates discount store chain in South Korea. It currently operates 126 stores nationwide. Homeplus entered court-led rehabilitation process on March 4, 2025, after a Seoul court approved the request by MBK Partners, the private equity fund that owns the discount store chain. The decision came after Korea Investors Service and Korea Ratings Inc. downgraded the company's rating, citing the company's lack of efforts to improve its financial health. ********* 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 ***