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CRISIL has suspended its ratings on the bank facilities of Sezal Glass Ltd (Sezal, formerly known as Sejal Architectural Glass Ltd). This is because Sezal has not been cooperating with CRISIL. The suspension of ratings reflects CRISIL’s inability to maintain a valid rating as a result of non-cooperation from Sezal.
About the Firm
Sezal was promoted by Mr. A S Gada (Chairman and Managing Director) and his three brothers as a private limited company in 1998 and was converted into a public limited company in 1999. Sezal offers a range of glass varieties to the architectural industry, including toughened/heat-strengthened, laminated, insulated, acoustic, and safety and security glass. The company has set up a 200,750 tonnes per annum float-glass manufacturing plant at Bharuch, Gujarat. In June 2008, the company raised Rs.1.06 billion through an initial public offering of 9.19 million shares, representing 34.28 per cent of the post-issue share capital.
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Media Contacts
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Analytical Contacts
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CRISIL Rating Desk
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Mitu Samar
Head, Market Development & Communications
CRISIL Limited
Tel: +91-22- 3342 1838
Email: msamar@crisil.com
Tanuja Abhinandan
Market Development & Communications
CRISIL Limited
Tel: +91-22- 3342 1818
Email: tabhinandan@crisil.com
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Gurpreet S Chhatwal
Director - CRISIL Ratings
Tel: +91-4250 5100
Email: gchhatwal@crisil.com
Subodh K Rai
Head - CRISIL Ratings
Tel: +91-4250 5100
Email: srai@crisil.com
| Tel: +91-22-3342 3047 / 3342 3064
Email: CRISILratingdesk@crisil.com
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Note:
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CRISIL Complexity Levels are assigned to various types of financial instruments. The CRISIL Complexity Levels are available on www.crisil.com/complexity-levels. Investors are advised to refer to the CRISIL Complexity Levels for instruments that they propose to invest in. Investors can also call the CRISIL Helpline at +91 22 3342 3047 / + 91 22 3342 3064 with queries on specific instruments.
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CRISIL is India's leading Ratings, Research, Risk and Policy Advisory company. CRISIL leverages its core strengths of credibility and analytical rigour to deliver opinions and solutions, that help clients mitigate and manage their business and financial risks, make markets function better, and help shape public policy. For more information, visit www.crisil.com.
Disclaimer: A CRISIL rating reflects CRISIL's current opinion on the likelihood of timely payment of the obligations under the rated instrument and does not constitute an audit of the rated entity by CRISIL. CRISIL ratings are based on information provided by the issuer or obtained by CRISIL from sources it considers reliable. CRISIL does not guarantee the completeness or accuracy of the information on which the rating is based. A CRISIL rating is not a recommendation to buy, sell, or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. All CRISIL ratings are under surveillance. Ratings are revised as and when circumstances so warrant. CRISIL is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of this product. CRISIL Ratings’ rating criteria are generally available without charge to the public on the CRISIL public web site, www.crisil.com. For the latest rating information on any instrument of any company rated by CRISIL, please contact CRISIL RATING DESK at CRISILratingdesk@crisil.com, or at (+91 22) 3342 3000.
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December 02, 2010
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http://www.crisil.com
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