August 27, 2014
Mumbai
Jenburkt Pharmaceuticals Limited
 
  Rating Withdrawn
 
Total Bank Loan Facilities Rated Rs.70 Million
Long Term Rating Withdrawal
(Refer to Annexure 1 for Facility-wise details)

CRISIL has withdrawn its rating on the bank facilities of Jenburkt Pharmaceuticals Ltd (JPL) at the company's request, and on receipt of a no-dues certificate from its banker. There is no amount outstanding against these bank facilities. The rating action is in line with CRISIL's policy on withdrawal of its ratings on bank loans.

About the Company

JPL, incorporated in 1985 is engaged in manufacturing and marketing of speciality pharmaceutical formulations and healthcare products. Mr. Uttam Bhuta and his son, Mr. Ashish Bhuta, manage the overall operations of JPL. The company's registered office is in Mumbai and manufacturing unit at Sihor (Gujarat). The company is listed at the Bombay Stock Exchange.

Annexure 1 - Details of various bank facilities
Current facilities Previous facilities
Facility Amount (Rs.Million) Rating Facility Amount (Rs.Million) Rating
Cash Credit 50 Withdrawal Cash Credit 50* Suspended
Term Loan 20 Withdrawal Term Loan 20 Suspended
Total 70 -- Total 70 --
*Includes sub limit of Rs. 20.00 million for Packing credit/ Foreign Bills Discounting and Rs. 2.00 million for Inland Letter of credit
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August 27, 2014

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