Rationale

ICRA has withdrawn the ratings assigned to the bank facilities of Shankha Deep Exports Pvt. Ltd. at the request of the company and in accordance with ICRA’s policy on withdrawal. However, ICRA does not have information to suggest that the credit risk has changed since the time the rating was last reviewed. The Key Rating Drivers and their description, Liquidity Position, Rating Sensitivities, Key Financial Indicator have not been captured as the rated instruments are being withdrawn.