32 Years Old Credit Cooperative Society for Transfer Mumbai
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Product / Service
Credit society catering to various towns and cities in Maharashtra, HQ in Mumbai, with operations in 4 jurisdictions of Maharashtra.
Clientele type
Banks and B2C
Premises
Flat in Andheri, Mumbai
Asking Price Includes
Loan receivables and license of the society
Reason
Retirement of board
Other Details
1. Currently co-operative society license is not granted easily.
2. Income from Cooperative society is exempt from tax.
3. The society has taken loan 14 times from Mumbai bank(approved by govt and bye-laws ) and repaid in advance fully and smoothly.
4. New Committee can approach a bank for a new loan of INR 18 CRS (12 times of paid-up capital and reserve funds) after reviving society operations.
5. Loan above can be lent with min 4% mark up on borrowing rate and the approved rate of interest on loans per bye-laws is 21%.
6. Authorized capital is 2 crores which if converted to paid-up can be used to apply for borrowing (approx. revised bank funding can then be 30 crores).
7. Society's area of operation extended to 4 districts.
8. Society is over 33 years old which will help to grow the society i.e. convert to multi-state, apply for loans, etc.
9. Comprising of 5000 members and share capital and reserves of 1.5 CR, has the scope of great growth.
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₹10 to ₹200 Cr
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