|
| Exchange Received Time 16/02/2019 18:48:08 Exchange Disseminated Time 16/02/2019 18:48:13 Time Taken 00:00:05 | Dear Sir,
With reference to the captioned subject, the Company would like to intimate to the Stock exchange that CRISIL had given an incorrect rating to Sadhana Nitro Chem Ltd on CRISIL's website, thereby making an erroneous reporting to the public at large. It is imperative to note that
(a) CRISIL was never given a mandate to rate the Company's debt position and;
(b) Sadhana Nitro Chem Ltd had no debt outstanding as on 18th May 2018 when CRISIL uploaded this rating.
After becoming aware of this erroneous rating, Sadhana Nitro Chem Ltd had written back to CRISIL instructing them to remove the rating. On Monday 11th January 2019, CRISIL has removed the rating from their site. A copy of CRISIL's confirmation of Rating Withdrawal is enclosed with this press release for ease of reference of all stakeholders.
|
|
|