Rationale

 ICRA has withdrawn the ratings assigned to the bank facilities of Mahesh Value Products Private Limited at the request of the company and based on the No Objection Certificate received from the bankers, which is in accordance with ICRA’s policy on withdrawal. ICRA does not have information to suggest that the credit risk has changed since the time the rating was last reviewed. As part of its process and in accordance with its rating agreement with Mahesh Value Products Private Limited, ICRA has been trying to seek information from the entity so as to monitor its performance, but despite repeated requests by ICRA, the entity’s management has remained non-cooperative. 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.