Aventura Components Pvt Ltd

Brickwork Ratings reaffirms the long-term and short-term ratings for the Bank Loan Facilities of Rs. 95.00 Crs. of Aventura Components Pvt Ltd based on best available information, as the issuer did not cooperate.

Particulars

Facilities	Amount (Rs.Crs.)		Tenure	Rating		Regulator
Facilities	Previous	Present	Tenure	Previous (07 Aug 2025)	Present	Regulator
Fund Based	14.00	14.00	Long Term	BWR D Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed	BWR D Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed	RBI
Non Fund Based	81.00	81.00	Short Term	BWR D Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed	BWR D Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed	RBI
Grand Total	95.00	95.00	(Rupees Ninety Five Crores Only)

Note:
1. Please refer to BWR website www.brickworkratings.com for the definition of the ratings
2. Refer to Annexures I, II, and III for details of rated bank loan facilities, debt instruments, and the List of Entities Consolidated
*Issuer did not cooperate; based on best available information.

RATING ACTION / OUTLOOK / NATURE OF NON-COOPERATION

Brickwork Ratings (BWR) had last rated the bank loan facilities of "Aventura Components Pvt Ltd ” in May2024 by reaffirming the long-term and short-term rating at BWR D with continuation of ratings under the ISSUER NOT COOPERATING* category.

The ratings are due for review in Aug 2026. BWR has consistently taken up with the company through emails and telephone calls to provide the requisite information for the review of the ratings. Despite the best efforts of BWR to get at least the minimum required information for a review, the company has not been submitting the monthly “No Default Statement” (NDS) as required by regulatory guidelines and remains to be non-cooperative. Due to the lack of management cooperation, BWR is unable to assess the company’s financial performance and its ability to service its debt and maintain a valid rating.The latest NCLT order indicates that the Company is under liquidation. Information at Ministry of Corporate Affairs (MCA) also indicates that the company is under liquidation. Hence, owing to lack of management cooperation and taking into consideration the latest NCLT order of liquidation of the company, Ministry of Corporate affairs information, Brickwork Ratings reaffirms the long-term and short-term ratings at "BWR D" and continues the ratings under ISSUER NOT COOPERATING* category, based on best available information. Further, BWR has received feedback from liquidator stating the company is under liquidation process and it may take 5-6 months to get completely liquidated.

The lenders/investors may note to exercise due caution while using the above rating which mentions "Issuer Not Cooperating" since the rating lack any projections or forward looking component as it is arrived at based on the best available information without any management/banker's interaction.

LIMITATIONS OF THE RATING

Information availability risk is a key factor in the assessment of credit risk as generally, non-cooperation by the rated entities to provide required information for a review of the assigned rating may also be accompanied by financial stress. Users of the credit rating should therefore take into account possible deterioration in the credit quality of the rated entity arising from its non-transparency withholding of information required for a review of the rating

ABOUT THE ENTITY

Macro Economic Indicator	Sector	Industry	Basic Industry
Utilities	Utilities	Other Utilities	Water Supply & Management

Aventura Components Pvt Ltd (ACPL) was incorporated in September 1997 and is in the business of supplying components required in the water handling and water treatment industry. The company offers a range of water treatment components like filtration, ion exchange process, membrane separation technology, and chemical treatment. The management consisted of Mr. Kewal Krishan Nohria, Mr. Vidyavathsal Annapragada, Mr. Kamal Tiwari, Mr. Nimir Mehta, and Mr. Sunil Ghorawat.

(Information received as on 10 May 2017)

KEY FINANCIAL INDICATORS

Please refer to the following link for the previous detailed rationale that captures the Key Financials Drivers and their Description, Liquidity Position. Rating Sensitivities, Key Financial Indicators. View Previous Document

STATUS OF NON-COOPERATION WITH PREVIOUS CRA

Creadit Rating Agency Status and Reason for Non-Cooparation Date of Press Release
IVR IVR D/D for Rs. 95.00 crs. Dated 23Oct2025 - INC 23Oct2025

Creadit Rating Agency	Status and Reason for Non-Cooparation	Date of Press Release
IVR	IVR D/D for Rs. 95.00 crs. Dated 23Oct2025 - INC	23Oct2025

RATING HISTORY FOR THE PREVIOUS THREE YEARS (including withdrawal and suspended)

Facilities	Current Rating (2026)			2025		2024		2023
Type	Tenure	Amount (Rs.Crs.)	Rating	Date	Rating	Date	Rating	Date	Rating
Fund Based	LT	14.00	BWR D (Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)	07Aug2025	BWR D (Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)	17May2024	BWR D (Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)	17May2023	BWR D (Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)
Non Fund Based	ST	81.00	BWR D (Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)	07Aug2025	BWR D (Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)	17May2024	BWR D (Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)	17May2023	BWR D (Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)
Grand Total		95.00	(Rupees Ninety Five Crores Only)

Hyperlink/Reference to applicable Criteria

Analytical Contacts
Harsha Vardhan DC Ratings Analyst harsha.v@brickworkratings.com	Raghavendra Senior Manager - Ratings raghavendra.n@brickworkratings.com
1-860-425-2742 \| media@brickworkratings.com

Aventura Components Pvt Ltd

ANNEXURE-I

Details of Bank Facilities rated by BWR

SL.No.	Name of the Bank/Lender	Type Of Facilities	Long Term(Rs.Crs.)	Short Term(Rs.Crs.)	Total(Rs.Crs.)	Complexity of the Instrument
1	Punjab National Bank	Cash Credit - Sanctioned	2.00	_	2.00	Simple##
2	Punjab National Bank	BG/ILC - Sanctioned	_	5.00	5.00	Simple##
3	State Bank Of India (SBI)	BG/ILC - Proposed	_	19.00	19.00	Simple##
4	Union Bank of India	BG/ILC - Sanctioned	_	57.00	57.00	Simple##
5	Union Bank of India	Cash Credit - Sanctioned	12.00	_	12.00	Simple##
Total			14.00	81.00	95.00
TOTAL (Rupees Ninety Five Crores Only)

ANNEXURE-II

INSTRUMENT DETAILS

Instrument	Issue Date	Amount (Rs.Crs)	Coupon Rate (%)	Maturity Date	ISIN Particulars	Complexity of the Instrument
Nil	Nil	Nil	Nil	Nil	Nil	Nil

ANNEXURE-III

List of entities consolidated

Name of Entity	% Ownership	Extent of consolidation	Rationale for consolidation
Nil	Nil	Nil	Nil

List of Instruments and Regulators

Sr.No.	Instrument / Activity	Regulator
1	Listed/Proposed to be listed bonds/debentures/preference share (all securities)	SEBI
2	Unlisted/Proposed to be unlisted Bonds/Debentures/ Preference share (all securities)	MCA
3	Listed PTCs / Securitisation Notes (originated by entities regulated by RBI)* $	RBI
4	Listed PTCs / Securitisation Notes (originated by entities not regulated by RBI)*	SEBI
5	Unlisted PTCs / Securitisation Notes (originated by entities regulated by RBI)*	RBI
6	Listed Commercial Paper and NCDs with original maturity less than 1 year	RBI
7	Unlisted Commercial Paper and NCDs with original maturity less than 1 year	RBI
8	Loan Facilities (Fund/Non-Fund Based) from Bank/NBFCs/NHB/FIs^	RBI
9	External Commercial Borrowings and other similar borrowings	RBI
10	Certificates of Deposit	RBI
11	Fixed Deposits raised by NBFCs,HFCs, FIs	RBI
12	Fixed Deposits raised by corporates other than NBFCs, Banks, HFCs, FIs	MCA
13	Inter Corporate Deposits/Loans extended by Corporates	MCA
14	Borrowing programme ~	-
15	Issuer Ratings #	-
16	Credit Ratings for Capital Protection Oriented Schemes (by Mutual Funds and AIFs)	SEBI
17	Credit quality ratings (CQRs) for Mutual Fund Schemes and Schemes of AIFs	SEBI
18	Listed Security Receipts $	RBI
19	Unlisted Security Receipts	RBI
20	Independent Credit Evaluation (ICE)	RBI
21	Expected Loss Ratings (Listed/Proposed to be listed bonds/debentures/preference share (all securities))	SEBI
22	Expected Loss Ratings (Unlisted/Proposed to be unlisted Bonds/Debentures/ Preference share (all securities))	MCA
23	Unlisted PTCs / Securitisation Notes (originated by entities not regulated by RBI) *	Investor-side regulator such as IRDAI, PFRDA @

* Includes securitisation transactions involving assignee payout, acquirer's payout.
~ The rated instrument may involve issuance of different instruments such as debt securities (listed or otherwise), bank loans, commercial paper (listed or otherwise), etc. The regulator of the instrument may accordingly be SEBI, RBI or MCA and can only be determined upon issuance. In PRs subsequent to issuance(s), Brickwork Ratings India Private Limited (BWR) shall separately capture the rated quantum details along with names of respective regulators.
^ Includes bank facilities such as liquidity facility, second loss facility that are part of securitisation transactions.
# There is no instrument being rated and hence, Regulator of the Instrument is not applicable. The rating scale and definitions are being followed as stipulated in SEBI Master Circular for CRAs.
@ These ratings were assigned during regulatory regime prior to introduction of SEBI CRA Circular dated Feb 10, 2026 and the investor side regulators have accordingly been included.
$ By virtue of the instrument being listed, SEBI acts as the regulator for listing and related issues.

Note: Kindly note that for activities or instruments falling under the purview of FSRs other than SEBI, the grievance/dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.

Grievance Management: For any grievances relating to rating of instruments regulated by SEBI, please contact sebigrievance@brickworkratings.com. Kindly note that for activities or instruments falling under the purview of FSRs other than SEBI, the grievance/dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available

For any grievances relating to rating of instruments regulated by other FSR (Financial Sector Regulators), please contact grievance@brickworkratings.com.

DISCLOSURE ON CONFLICT OF INTEREST

BWR Board of Directors have no influence over rating decisions, nor do they sit on the rating committee or review, discuss or evaluate any credit rating during the Board meetings.

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