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May 06, 2015 4:28 AM ET

Capital Markets

Company Overview of Barnaparichay Book - Mall Pvt. Ltd.

Company Overview

Barnaparichay Book - Mall Pvt. Ltd. was founded in 2007 and is based in Kolkata, India. Barnaparichay Book - Mall Pvt. Ltd. operates as a subsidiary of Bengal Shelter Housing Development Ltd.

83, College Street

Kolkata,  700007

India

Founded in 2007

Key Executives for Barnaparichay Book - Mall Pvt. Ltd.

Barnaparichay Book - Mall Pvt. Ltd. does not have any Key Executives recorded.

Barnaparichay Book - Mall Pvt. Ltd. Key Developments

Barnaparichay Book Reportedly To Be Auctioned

A consortium of banks, led by the State Bank of India is planning to launch an auction of Barnaparichay Book Mall Pvt. Ltd for a loan default of INR 1.57 billion. The consortium of banks took “symbolic possession” of 70% of the property in April 2013 year after the private developer (Bengal Shelter) failed to clear dues. Other banks in the consortium include Corporation Bank, State Bank of Bikaner and Jaipur, State Bank of Patiala and State Bank of Travancore. According to a senior SBI official, the next course of action would be to sell off the mall property to another developer. According to information accessed by Business Line, the loan was given to Barnaparichay Book Mall Pvt. Ltd, with Bengal Shelter Ltd and Shelter Project Ltd as corporate guarantors. The Managing Director of Bengal Shelter and Housing and chairman of Shelter Project, Samarendra Nag, is also a director of Barnaparichay. According to Nag, the company is in talks with banks for a one-time settlement of the account. “We had asked for a corporate debt restructuring on the account but the consortium declined. We are now in discussion for a one-time settlement,” he added. Meanwhile, Kolkata Municipal Corporation, 30% owner of mall is contemplating legal action if the consortium decides to opt for an auction. “We have sent details of the agreement and the loan papers to the Advocate General for his opinion,” Tarak Singh, member-mayor-in-council (markets) said. “This is illegal and the consortium should have referred the matter to us before granting the loan,” he said.

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