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Balashri Commercial Limited (BCL) was originally incorporated as The Balrampur Sugar Company Limited on October 18, 1958 with the Registrar of Joint Stock Companies. Subsequently the name of the company was changed to Balarampur Commercial Enterprises Limited and finally to its present name Balashri Commercial Limited on March 29, 2007. BCL was also registered with the Reserve Bank of India (RBI) as a non Banking Finance Company under registration no. B.05.01520 dated April 25, 1998.
BCL’s main business activities in the past have been Investment and Trading in Shares and Securities and also Non Banking Finance activity such as Inter Corporate Deposits (ICD), Short Term Financing and Bridge Loans etc.
Balashri Commercial Limited has been recently acquired by a new set of promoters who intend to continue with the existing line of business activities such as Investment and Non Banking Finance activity. However the new promoters of the company also intend to expand the scope of business activity and have started the business of stressed assets management.
BCL having a Net Worth of around 40 Crores has acquired Debts / Assets of sick companies and also proceeded to settle with Financial Institutions and Promoters and acquired the assets of these companies. So, basically the Company is into business of settlement / acquisition of stressed assets apart from other non banking financial activities.
BCL has successfully carried out two transactions of acquisition of debt assets, details of which are as follows:
1. Debt assets of Derby Textiles Limited (assets of IDBI Limited)
2. Debt assets of Ganga Asbestos Cements Limited (assets of ICICI Limited)
Also, BCL has initiated the proceedings of resolution of the debt assets of Ganga Asbestos Cements Limited in consonance with Kotak Mahindra Bank Limited.
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Nature of Business

Service Provider

Legal Status of Firm

Limited Company (Ltd./Pvt.Ltd.)

Annual Turnover

Rs. 10 - 25 Crore

GST Number

19AACCB2631H1ZX

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Confidentiality

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All directors and management employees shall ensure that any confidential information gained in their official capacity is not utilized for personal profit or for the advantage of any other person. They shall not disclose in writing/verbal any facts, figures, information, trade secrets and/or confidential documents obtained during the course of business relationship with Company to any person/authority/organization/statutory body unless required by law and/or with specific written permission of the Company. They shall not provide any information either formally or informally to the press or to any other publicity media unless specifically authorized to do so. They shall adhere to the provisions of SEBI (Prohibition of Insider Trading) Regulations, 1992

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The Company and its officers shall be committed to supply goods and services of the highest quality standards, backed by efficient after sales service consistent with the requirements of the customers to ensure their total satisfaction. The quality standards of the Company's goods and services shall meet the required national standards and the Company shall endeavor to achieve international standards.

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The Company and its officers shall prepare and maintain accounts of the Company's business affairs fairly and accurately in accordance with the generally accepted accounting and financial reporting standards. Internal accounting and audit procedures shall fairly and accurately reflect all of the Company's business transactions and disposition of assets. All required information shall be accessible to Company auditors and other authorized parties and government agencies. There shall be no willful omission of any transaction from the books and records, no advance income recognition, and no hidden bank account and funds.

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