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    NPA Note Aerostar

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    tejasj171484
    This document provides information about a logistics company called Aerostar Global Logistics India Pvt. Ltd that has an outstanding loan of Rs. 122.01 lakhs as of March 29, 2020. The company is located in Bangalore and has two directors. It was granted a cash credit limit of Rs. 110 lakhs by the bank. The security for the loan is a property in Bangalore valued at Rs. 120.25 lakhs. The account became an NPA on March 29, 2020. The company's business started struggling due to delayed receivables and payments, leading it to shut down operations.

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    NPA Note Aerostar

    Uploaded by

    tejasj171484
    38 views2 pages
    This document provides information about a logistics company called Aerostar Global Logistics India Pvt. Ltd that has an outstanding loan of Rs. 122.01 lakhs as of March 29, 2020. The company is located in Bangalore and has two directors. It was granted a cash credit limit of Rs. 110 lakhs by the bank. The security for the loan is a property in Bangalore valued at Rs. 120.25 lakhs. The account became an NPA on March 29, 2020. The company's business started struggling due to delayed receivables and payments, leading it to shut down operations.

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    NPA note Aerostar

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    This document provides information about a logistics company called Aerostar Global Logistics India Pvt. Ltd that has an outstanding loan of Rs. 122.01 lakhs as of March 29, 2020. The company is located in Bangalore and has two directors. It was granted a cash credit limit of Rs. 110 lakhs by the bank. The security for the loan is a property in Bangalore valued at Rs. 120.25 lakhs. The account became an NPA on March 29, 2020. The company's business started struggling due to delayed receivables and payments, leading it to shut down operations.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    38 views2 pages

    NPA Note Aerostar

    Uploaded by

    tejasj171484
    This document provides information about a logistics company called Aerostar Global Logistics India Pvt. Ltd that has an outstanding loan of Rs. 122.01 lakhs as of March 29, 2020. The company is located in Bangalore and has two directors. It was granted a cash credit limit of Rs. 110 lakhs by the bank. The security for the loan is a property in Bangalore valued at Rs. 120.25 lakhs. The account became an NPA on March 29, 2020. The company's business started struggling due to delayed receivables and payments, leading it to shut down operations.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
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    of 2

    Name of the Branch : Thippasandra

    Name of Firm : M/s Aerostar Global Logistics India Pvt. Ltd


    Office Address / Reg Address : Crimson Court I, No. 5 Jeevan Bhima Nagar Main Road,
    HAL III Stage Bangalore Bangalore KA 560075 IN

    Activity : Logistics & Containerized Services


    Name of the Directors : Mr Gopalakrishnan Nair Sundaresan & Mrs Ramya Nair
    Group : NA
    Details of facilities granted : (Rs. in lacs)
    Facility Limit O/s on
    12/12/2019
    Cash Credit Rs. 110.00 Lakh Rs. 116.52 Lakh
    Total Rs. 110.00 Lakh Rs. 116.52 Lakh

    Details of security :
    Description of property Location/postal address of the property Market value DSV in Lakh
    in Lakh
    SORP#1 Site No.5, BBMP Katha No.72, Municipal 120.25 96.20
    No.9,Ward No.149, Amane Bellandur Khane
    Village, Varthur Hobli, Bangalore. 560037

    IRAC Status : To be fill by FRR


    Date of NPA : 29-03-2020
    Outstanding as on : Rs.122.01 Lakhs
    Unrealised Interest till : To be fill by FRR
    NPA as on : To be fill by FRR
    Provision Held as on : To be fill by FRR
    Net NPA as on : To be fill by FRR

    History of the Account :

    Aerostar Global Logistics India Pvt. Ltd (AGLIPL) was started in 01.01.2015 and had only 3 months of operations
    in FY2015. The promoter Mr Gopala Krishnan Nair however had started a proprietorship firm M/s Alliance
    Global Logistics in July 2014 after resigning from Bollore Africa Logistics India Pvt. Ltd (headquartered in Paris)
    as Vice President.

    M/s Alliance Global Logistics after completing the FY2015 was takeover by AGLIPL on 01.04.2015 and all the
    sales and business transactions were carried in the name of AGLIPL.
    The Company was earlier operating from No.95, 1 st Floor, MES Colony, Konena Agrahara. HAL Post Bangalore-
    17, however, recently they have moved to a bigger premises located at #5, 2nd Floor, Crimson Court-I, Jeevan
    Bhima Nagar Main Road, HAL III Stage, Bangalore-560075. Both the premises are rented.

    a) History of Limits :

    Facility Date of last Sanctioning Limit O/s as on


    sanction Authority ___30.11.19_
    ____
    Cash Credit 22-04-2019 ZCC 110.00 116.51
    Term Loan
    TOTAL 110.00 116.51

    Developments during the quarter :

    Regular follow up business Team RM, ZH and Collection Team.   The visit
    was made several times to his residence as well and follow up with several notices from our side.  As we built
    pressure on the client to clear overdue – the client avoided calls. Customer’s business started getting affected
    since the receivables becoming extended and other payments getting delayed. Customer is on talks with few
    investors in order to revive the business but failed on the same.  Meanwhile the client run out of funds and had
    shut down the business completely. We convenience the client to sell collateral and we started looking for
    buyers but we’re able to get price not above Rs.75-90 lakhs.

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