Subject: Intimation of withdrawal of ICRA Rating at Company's Request NSE Symbol - PANACHE
Dear Sir/ Madam,
With respect to the above-mentioned subject, this is to inform you that at the Company's request and on submission of No-Objection communication from the Bankers of the Company, ICRA Limited has withdrawn its credit rating assigned on the bank facilities of the Company.
A copy of withdrawal letter from ICRA Limited having reference no. ICRA/Panache Digilife Limited/27122022/01 dated December 27, 2022 is enclosed herewith for your reference.
Kindly take the above information on your record.
Thanking You,
Yours Faithfully,
For Panache Digilife Limited
HARSHIL
Digitally signed by
RAJESH
HARSHIL RAJESH CHHEDA
Date: 2022.12.27 15:41:11
CHHEDA
+05'30'
___________________________
Harshil Chheda
Company Secretary & Compliance Officer
Place: Mumbai
ICRA Limited
Ref: ICRA/Panache Digilife Limited/27122022/01
Date: December 27, 2022
Mr. Amit Rambhia
Managing Director
Panache Digilife Limited
B-507, Raheja Plaza Premises CSL,
LBS Marg, Ghatkopar West,
Mumbai - 400086
Maharashtra, India
Dear Sir/ Madam,
Re:
Withdrawal of the ICRA rating assigned to Rs. 33.00 crore Bank Facilities of Panache Digilife
Limited.
Please refer to your e-mail dated November 02, 2022, requesting us to withdraw the long-term rating of [ICRA]BB (pronounced ICRA double B) with a negative outlook and the short-term rating of [ICRA]A4 (pronounced ICRA A four) assigned to Rs. 33.00 crore Bank Facilities of your company. Please note that in accordance with ICRA's policy on withdrawal of credit ratings, the rating is presented to the Rating Committee of ICRA prior to withdrawal. The outstanding long-term rating of [ICRA]BB (pronounced ICRA double B) with a Negative outlook and the short-term rating of [ICRA]A4 (pronounced ICRA A four) stand withdrawn as desired by you.
We shall be glad to be associated with rating of any future borrowing programme of your company.
Panache Digilife Ltd. published this content on 27 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2022 11:19:37 UTC.
Panache Digilife Limited is an information and communications technology (ICT) and Internet of things (IoT) devices design, manufacturing, distribution, and services company. It is focused on smart computing devices and virtualization, smart and digital classrooms, smart and connected cars, retail IoT and smart water and other electronic manufacturing opportunities. It provides solutions around smart computing devices, smart and artificial intelligence (AI) based digital classrooms, smart asset management, retail IoT, healthy living solutions, AV Display and pen display solutions and other contract manufacturing original equipment manufacturer/original design manufacturer (OEM/ODM). Its retail IoT includes POS Terminal, Thermal Printer, Informaon Kiosk, and Self-Checkout Kiosk. The Company offers healthy living solutions to provide healthy water to people through its products, such as Aquatatva, NEER 3, NEER 5, and ultra slim.