Rationale

 ICRA has moved the ratings for the fixed deposits of Beardsell Limited to ‘Issuer Not Cooperating’ category. The rating is denoted as [ICRA]B+(Stable); ISSUER NOT COOPERATING”. As part of its process and in accordance with its rating agreement with Beardsell Limited; ICRA has been sending repeated reminders to the entity for providing information for the surveillance rating exercise of fixed deposit ratings. However, despite multiple requests by ICRA, the entity’s management has remained non-cooperative and has not shared information. In the absence of requisite information and in line with the aforesaid policy of ICRA, a rating view has been taken on the entity based on the best available information.