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CRISIL has suspended its rating on the bank facilities of Kanani Industries Ltd (KIL). This is because KIL has not been providing information on its operations and financials to CRISIL. The suspension reflects CRISIL’s inability to maintain a valid rating in the absence of information from KIL.
About the Company
KIL (formerly IMP Finance Ltd) was acquired by Mr. Premji Kanani and Mr. Vinu Kanani from Matrix Energy Solutions Pvt Ltd in 2007. KIL, a wholesale exporter of jewellery to Hong Kong, has a jewellery manufacturing facility in Surat (Gujarat). The company commenced operations in January 2008.
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Mitu Samar
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Tanuja Abhinandan
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Gurpreet S Chhatwal
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Subodh K Rai
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Email: srai@crisil.com
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About CRISIL Limited
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Last updated: March 31, 2011
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 available without charge to the public on the CRISIL 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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