Shareholding Pattren
- Present Authorized Capital - Rs.100 Crore
- Present Paid up Share Capital- Rs77.84 Crore
| Shareholders | No. of Shares | No. of Amount | Percentage(%) |
|---|---|---|---|
| STATE GOVT. | 39,94,770 | 39,94,77,000.00 | 51.32 |
| SIDBI | 37,69,770 | 37,69,77,000.00 | 48.43 |
| INSTITUTIONAL | 10,845 | 10,84,500.00 | 0.14 |
| PRIVATE | 8,430 | 8,43,000.00 | 0.11 |
| TOTAL | 77,83,815 | 77,83,81,500.00 | 100.00 |
Sources Of Funds
- Main Source of Funds for BSFC is loan from IDBI/SIDBI under Refinance Scheme.
- Bonds issued by BSFC and subscribed by Banks under the guarantee of State Govt.
- State Govt Loan 228.47 Cr
The entire dues of IDBI/SIDBI have been settled and at present there is no amount is outstanding against IDBI/SIDBI. The repayment against Bond’s liabilities have also been paid to the Banks.
Historical Perspective
| PARTICULARS | REMARKS |
|---|---|
| No. of units assisted (since incorporation): | 7223 |
| Total loans disbursed (since incorporation): | Rs438.49 Crores |
| Total Recovery (as on 01.06.2021): | Rs.870.00 Crores |
| Total no. of units which liquidated loans: | 4780 |
| Balance no. of units in the loan portfolio as on 01.04.2024: | 2267 |
| Composite loans ranging from Rs.500/- to Rs.50,000/-(1364 units) | Rs.1.89 cr. (POS) Principal Outstanding |
| Loans to ex-Service Men(205 units) | Rs.4.61 Cr. (POS) |
| Loan involved with 13 State PSUs) | Rs.4.33 Crores (POS) |
Recovery
| YEARS | AMOUNT(in crores) | REMARKS |
|---|---|---|
| 2016-17 | 4.75 | - |
| 2017-18 | 3.48 | - |
| 2018-19 | 13.40 | Under OTS-2018 |
| 2019-20 | 27.45 | Under OTS-2018 |
| 2020-21 | 5.81 | - |
| 2021-22 | 7.01 | - |
| 2022-23 (as on 30.06.22) | 3.51 | - |
Present Financial Status
Balance Sheet till the F.Y 2019-20 has been approved by Board & A.G.M.
Deposit with bank (as on 15.01.22).
- Fixed Deposit Rs. 9443.28 lakh.
- Bank Balance Rs. 440.86 lakh.
Monthly Rent (receivable) Rs. 15.37 lakh.
Monthly Expenses.
- Salary Rs. 15.00 lacs (approx.)
Other Expenses including maintanence of building & retiral benefit to employee Rs. 18.96 lacs p.m(avg.)
Some Successful Units Of BSFC
Hotels
- Hotel Mourya, Samrat, Satkar, President, Anand Lok, Mayur, Republic (all at Patna), Yuvraj, Samrat (Begusarai), Ajatshatru, Surya (Gaya), Yuvraj (Ranchi) and spread all over in the State etc.
Food Processing
- Shakun Bread, Puja Foods, Lucky Biscuit, Amrapali Fruits and Flour Mills/Rice Mills etc.
Health Sector
- Central Diagnostic, Hospito India, Anurag Nursing Home, Rathi Laboratories, Shiv Shankar Chemicals etc.
Cold Storages
- At Vaishali, Motihari, Sasaram, Patna, Gaya, Biharsharif, Nawada, Darbhnaga , Samastipur, Begusarai, Chapra, Forbesganj etc.
Others
- Usha Martine, La-opala, Shreelethers, H.L.Printer, Mohan Cinema Hall, Bettiah Katha Factory, Bajaj Foam, Vikramsheela Ceramics etc.
Operational Activities
- Fresh financing stopped since year 1990-91,(SIDBI stopped refinancing facilities).
- Recovery from existing assisted units is being done mainly through sale of mortgaged/hypothecated assets U/S 29 of SFCs Act, 1951.
- Tenders are under process for sale of mortgaged/hypothecated assets u/s 29 of SFCs Act.
- Under OTS-2018 a sum of Rs.41.00 Crores have been received.
- Ifedpro Division of BSFC had imparted training to the beneficiaries of CM-SC/ST Entrepreneurship Scheme. Entrepreneurs Development Programme were also conducted.
Pending Issues
- Bifurcation of corporation (Bihar & Jharkhand).
- Conversion of share capital from Rs. 100 crores to Rs. 500 crores.
- Waivers of Interest on government fund provided to the corporation.
- Restructuring of Corporation as per recommendation of Deloitte.
- Payment of dues of mortgaged assets of sugar Industries from Sugar Corporation.
- Payment of Principal amount from State government- Composite & SEMFEX Loans.
- Approval of implementation of 6th Pay Revision to employees of the corporation.
Dues Of Bsfc
| Name of the unit | POS(Rs.in lakhs) | BOS(Rs.in lakhs) | Remarks (Rs.in lakhs) |
|---|---|---|---|
| Samastipur Central Sugar Mills, Samastipur | 5.15 | 97.93 | Free hold land-50 bighas approx. |
| Purnea Co-operative Sugar Factory, Purnea. | 19.00 | 1116.23 | Free hold land-115.89 Acres |
| Sheetalpur Sugar Works, Vaishali | 7.50 | 319.34 | Free hold land |
| South Bihar Sugar Mills, Bihta, Patna. | 7.00 | 10.05 | Free hold land |
| TOTAL | 38.65 | 1543.55 | - |
Bifurcation of Bihar State Financial Corporation between State of Bihar & Jharkhand is pending.
Status Report
Bifurcation of Bihar State Financial Corporation between State of Bihar & Jharkhand is pending.
As per Audited Balance Sheet as on 31.03.2018.
- Total liabilities comes to Rs.595.63 Crore, whereas value of the total Assets is Rs. 208.72 Crore.
- The ratio of Bifurcation of State of Bihar & Jharkhand have been decided as 65.03:34.97
Meeting held on 14.12.2018 at Secretary level of both the States, remained inconclusive.
Statement of Distribution of Assets & Liabilities between the State of Bihar & Jharkhand
| LIABILITIES | BIHAR | JHARKHAND | TOTAL | ASSETS | BIHAR | JHARKHAND | TOTAL |
|---|---|---|---|---|---|---|---|
| Capital | 50.3 0.33 |
27.04 0.17 |
77.34 0.50 |
Cash & Bank | 32.36 | 0.00 | 32.36 |
| Borrowing (Other) | 32.36 | 0.00 | 32.36 | Other Cash & Bank | 38.02 | 20.45 | 58.47 |
| Main Borrowing | 256.56 | 137.96 | 394.52 | Investment | 0.03 | 0.01 | 0.04 |
| Other Liabilities | 59.12 | 31.79 | 90.91 | Advance | 68.86 | 37.20 | 106.06 |
| - | - | - | - | Fixed Assets | 0.38 | 0.03 | 0.41 |
| - | - | - | - | Other Assets | 7.40 | 3.98 | 11.38 |
| - | - | - | - | Loss | 251.62 | 135.29 | 386.91 |
| TOTAL | 398.67 | 196.96 | 595.63 | TOTAL | 398.67 | 196.96 | 595.63 |
Conclusion :
Thus, on the basis of the above statement the net situation emerging after distribution of Assets & Liabilities is as under:
| 1. | Bihar State should get from Jharkhand State & undertake the entire liabilities payable by BSFC |
Rs. 196.96 cr. |
| 2. | Jharkhand should get its due share of Assets (in the form of Tangible Assets) of the value of | Rs. 61.67 cr. |