Change Management of Canara Bank - DOC by nza31084

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									                      [A Govt. of India undertaking]

  Operating Agency Desk, Credit Administration Wing, Canara Bank,
           Head Office, 112, J C Road Bangalore -560 002


      Notification for Change of Management / Merger/ Take over /
                            Amalgamation of
         M/s Kailash Structural Limited BIFR Case No 83/2002


BACKGROUND

In the BIFR hearing held on 13th February 2006, the subject company was
declared as Sick Industrial Undertaking and Canara Bank was appointed as
Operating Agency (OA) in order to formulate a rehabilitation scheme.
However, the company could not submit any rehabilitation scheme and
hence, the Hon'ble Board ordered for Change of Management. Accordingly,
this advertisement has been issued by OA in order to call for the prospective
bidders for Merger/ Take over / Amalgamation of the subject company.


GENERAL PROFILE

Registered Office & Works: M/s Kailash Structural Limited
                           C-75, B.S. Road
                           Industrial Area, Site – 01
                           Ghaziabad.UP

Line of Activity: Manufacture of Steel structure, Coextruded Multilayer
Films, Blow Moulded Components and Electronically Engraved Rotogravier
Printing (EERP) Cylinders.

Installed Capacity:

Particulars              Unit          Quantity
1. Multi Layer Film                 MT        5000
2.      Blow      Molded            MT        1000
Components
EERP Cylinders                    No's         12000

Board of Directors

   1 Shri. Maneesh Goel         –Managing Director

   2 Shri. Piyush Goel          – Director
                                     -2-

Share Holding pattern

            Particulars                             % Holding
            Promoters & Associates                       100.00
            TOTAL                                        100.00


FINANCIAL POSITION:

Performance highlights for the years ended 31st March 2008 and 2009 are
as under:-

                                            ( Rs in lac)
Particulars                 ABS              ABS
                          2008-09          2007-08
Income from operations           0.00               0.00
Other income                     0.00               0.00
Total Income                     0.00               0.00
Loss for the year               17.61             20.20
Equity Capital                 371.50           371.50
Reserves                         0.51               0.51
Net worth                      372.01           372.01
Secured Loans                 1756.97          1756.97
Unsecured Loans                 80.01             81.26
Current Liabilities and        394.08           393.92
Provisions
Gross Block                    805.26
                                              805.26
Net Block                      292.21
                                              314.83
Investments                     28.09             28.09
Inventory                        7.96              7.96
Debtors                        143.54            145.69
Loans and Advances              28.92             28.92
Cash and Bank Balance            7.55              6.81
Accumulated Losses            1963.29           1945.68
Tangible New worth           -1591.27          -1573.67

VALUATION OF FIXED ASSETS

The estimated fair market value of the fixed assets of the subject
company as per the latest valuation report dated 8th July 2010 are as
under

                                 Fair    Market
Fixed Asset         Area (Sqm) Value (Rs in Lac)
Land                        4028          322.24
Building                    1715           53.95
Plant & Machinery                           116.00
Total                                       492.15


                                    -3-


The realizable value of the above fixed assets is estimated at around Rs
443.00 lac.

Other Terms and Conditions

   1.   Interested parties may contact Sri Maneesh Goel Managing Director
        at the address mentioned above for inspection of the unit and to
        collect other details in order to evaluate the unit.

   2.   After the inspection of the unit and going through financials of the
        company, the prospective bidders may submit their initial offer
        within 60 days from the date of advertisement along with a DD for
        Rs 5.00 lac as Earnest Money Deposit (EMD) drawn in favor of
        Canara Bank payable at Bangalore in order to evaluate the
        prospective bids by the committee.

   3.   The EMD would be kept in a “No – Lien “account without interest
        and would be adjusted to the total amount payable in case of
        successful bid and for others the said amount would be refunded
        after the bidding process is completed without any interest.

   4.   After awarding the bid to the finally selected bidder, he would be
        directed to submit a fully tied up proposal to OA within 30 days from
        the date of accepting the bid, in order to formulate a rehabilitation
        scheme and to submit the same to the Hon'ble Board for further
        consideration. The whole process is expected to be completed
        within three months.


OFFERS RECEIVED AFTER THE EXPIRY OF THE STIPULATED TIME
FOR SUBMISSION OF FULLY TIED UP PROPOSALS FROM THE
PROSPECTIVE BIDDERS WILL NOT BE CONSIDERED.

								
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