Care’s rating update:
Care has placed the ratings of Shri Jagdamba Polymers Limited (SJPL) under the ‘issuer non-cooperating’ category as SJPL had not paid the surveillance fees for the rating exercise as agreed to in its Rating Agreement.
Promoters have also set-up another company Shakti Polyweave Private Limited (SPPL) which is also engaged in similar line of operations. Both these companies operate under common management and have business linkages.
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