|Long Term Banking facilities||CARE D||–||–|
|Short Term Banking Facilities||CARE D||–||–|
|Commercial Paper||-||BWR D||–|
|Secured Redeemable NCDs||CARE D||BWR D||Acuite D|
|Subordinate Redeemable (Tier II) NCDs||CARE D||BWR D||Acuite D|
|Perpetual Debentures Bonds||CARE D||BWR D||–|
^ Credit Watch with Negative Implications
*The Company believes that the rating given as above is blatantly wrong, misleading and baseless. The rating agency has recognised default arbitrarily even though there’s or can be no default in terms of the Order dated 30th December, 2020 passed by the Hon’ble National Company Law Tribunal, Kolkata Bench in an application filed under Section 230 of the Companies Act, 2013. The Company is in the process of availing appropriate legal remedy, among others, to set aside the rating since the Company believes that the rating agency has acted in a wrongful and contumacious manner.