| Security Terms
Yes Bank Ltd. - An OTS for an amount of Rs.475 was entered into with
Yes Bank on 31.03.2014. Secured by Corporate Guarantee of Monotona
Tyres Limited (MTL). This is further secured by pledge of 16,20,000
shares & Negative Lien on 37,79,400 shares of MTL. Rate of Interest@
15.75% payable in 36 monthly instalment from August 2012.
Central Bank of India - Secured by exclusive first charge by way of
hypothecation of Plant & Machinery & Civil works, etc. arising out of
the Term Loan. Second charge on all other existing fixed assets. Rate
of Interest 14.75% p.a. repayable in 24 quarterly installment from
July, 2013.
The South Indian bank Ltd. - Secured by exclusive first charge by way
of hypothecation of Plant & Machinery & Civil works, etc. arising out
of the Term Loan. Second charge on all other existing Fixed Assets.
Rate of Interest 14.4% p.a. Repayable in 24 quarterly installment from
Jan 2013 however it is understood that bank has deferred the repayment
period from sep 2014
Syndicate Bank - TL II - Secured by exclusive first charge by way of
hypothecation of Plant & Machinery & Civil works, etc. arising out of
the Term Loan. Second charge on all other existing fixed assets. Rate
of Interest 14.75% p.a.repayable in 24 quarterly installment from
September' 2013
ICICI Bank Ltd. - 2nd Charge on the entire FA of the Company(Movable
and immovable), both present and future, providing atleast one time
security cover for the proposal and 2nd charge on the entire current
assets of the company to be shared on pari passu basis with existing
charge holders. Rate of interest 13% p.a. with stepped up coupon
repayable in 32 quarterly installment from 15th June, 2014.
There are outstanding dues in respect of project loans from Central
Bank of india & The South indian bank & Syndicate bank in payment of
interest & principal repayment for which the company has approached the
lendors for re schedulement of repayment and funding of interest due to
delay/nonstabilisation of project, the approval still awaited.
1. CONTIGENT LIABILITIES AND COMMITMENTS (To the extent not provided
for)
CONTIGENT LIABILITIES
a) Claims against the Company
not acknowledged as debt 14.02 14.02
b) Corporate Guarantees 4,800.00 4,814.02 4,800.00 4,814.02
COMMITMENTS
Estimated amount of
contracts remaining
to be executed on
capital account and
provided for (Net of
advance) 206.50 16,151.14
2. The Company's operations predominantly consist of only one product
segment i.e. Tyres and Tubes. The export sales of the Company are
insignificant as compared to total sales during the year so as to
constitute a geographical segment. Therefore, separate segment
information as required in terms of Accounting Standard (AS 17) on
Segment Reporting has not been considered. Further as income from
Co-Gen is less than 10% of the total segment the same has not been
considered to be a separate segment
3. The Previous year's figures have been re-grouped / re-arranged/
restated wherever considered necessary.
4. Related party disclosures as required as per Accounting Standard
(AS-18) on "Related Part disclosures" are as below:
a) All the Companies in the group as discussed below are
directly/indirectly controlled by the RuiaGroup of Companies under the
Leadership of Sri Pawan Kumar Ruia and itsvarious Subsidiary/ Associate
Companies which held the controlling stake in the Company during the
year ended 31st March 2014.
b) Falcon Tyres Rubbers Pvt. Ltd. is 100 % subsidiary of Falcon Tyres
Limited ( Falcon Tyres Limited holding 10000 equity shares of Falcon
Tyres Rubber Pvt. Ltd.)
b) Associates / Group Companies
i. With whom the Company has transaction
Dunlop Polymers Pvt. Ltd., Monotona Tyres Limited
ii. Others:
Aakashdeep Properties Pvt. Ltd., Acurate Traders Pvt. Ltd., Adhishwar
Nivesh Pvt. Ltd., Alpha AirwaysPvt. Ltd., Alwaye Properties & Finance
Pvt. Ltd., American Merchandising Ltd., Anchita CommercialsPvt. Ltd.,
Angan Properties Private Limited, Anish Traders Pvt. Ltd., Anoush
Traders Pvt. Ltd., AparupaProperties Pvt. Ltd., Ayodhya Properties &
Finance Pvt. Ltd., Ballard Commercials Pvt. Ltd., BanalataSubhlaxmi
Compusis Pvt. Ltd., Shalini Properties& Developers Pvt. Ltd., &Traders
Pvt. Ltd., Bandana Commercials Pvt. Ltd. Beadon Traders Pvt. Ltd.,
Bharatiya Hotels Pvt. Ltd., Bipul Commercials Pvt. Ltd., Blackstone
Holdings Private Ltd., Bloom Billions Sdn Bhd-Malaysia, Borneo Traders
Pvt. Ltd., Brawany Nivesh Pvt. Ltd., Chaity Commercials Pvt. Ltd.,
ChamanTrade Links Pvt. Ltd., Chambal Marketing Pvt. Ltd., Chemical
Corporation of India Ltd., ChinsurahChemicals Pvt. Ltd., Chorus Trade
Links Pvt. Ltd., Climber Properties Pvt. Ltd., Chamundi PlastoSacks Pvt
Ltd., D K Properties Pvt. Ltd., Dadar Properties & Finance Pvt. Ltd.,
Dunlop India Limited, Deblok Traders Pvt. Ltd., Deoghar Properties &
Finance Pvt. Ltd., Dipti Commercials Pvt. Ltd., Divya Mercantile Ltd.,
Dunlop Estates Pvt. Ltd., Dunlop Infrastructure Pvt. Ltd., Dunlop
Investments Ltd., Dunlop Latex FoamEurope Ltd., Dunlop Properties Pvt.
Ltd., Dunlop Rubber Limted, Dunlop Tyres Limted, Dunlop AutoTyres
Limted, Dunlop Uk Limited-UK, Dunlop East Ltd., Dunlop South Ltd.,
Dunlop Comforts Pvt Ltd., Durg Properties & Finance Pvt. Ltd., Ebony
Commercials Pvt. Ltd., Eco Traders Pte Ltd., Edina Marketing Pvt. Ltd.,
eMotions Media Pvt. Ltd., Empire Minerals Pvt. Ltd., Enormous Nivesh
Pvt. Ltd., Eyelid Mercantile Pvt. Ltd., Fabulous Nivesh Pvt. Ltd.,
Falcon Auto Tyres Rubber Pvt Ltd., FairvalueImpex Ltd. - Maurititius, F
ragment Nivesh Pvt. Ltd., Gain E-Commerce Pvt. Ltd., Global Fin Pro
Ltd., Global Finvest Ltd. - UK, Globe Sugar Refinery Ltd., Goldman
Securities Ltd., Global Finvest Ltd., Gumasol Rubber Tec GMBH, Hardcore
Viniyog Pvt. Ltd., Herald Investments Pvt. Ltd., Hiker Properties Pvt.
Ltd., Hiland Traders Pvt. Ltd., Hindustan Texknit Pvt. Ltd., Hirakud
Industrial WorksLtd., Hirakud Rolling Mill Ltd., Hriday Commercials
Pvt. Ltd., Ibcon(Calcutta) Pvt. Ltd., India Finance Ltd., India Tyre &
Rubber Co (India) Ltd., Indo-Wagon Engineering Ltd., Jai Badrinath
Niketan Pvt. Ltd., Jai Brijmohan Niketan Pvt. Ltd., Jai Ganga Nirman
Pvt. Ltd., Jai Gokul Towers Pvt. Ltd., Jai HarihorTower Pvt. Ltd., Jai
Raghuvir Enclave Pvt. Ltd., Jai Tridev Vihar Pvt. Ltd., Jai Vaibhav
Niketan Pvt. Ltd., Janaki Marketing Pvt. Ltd., Jessop & Co. Ltd.,
Jessop Estate Pvt. Ltd., Jessop Infotech Pvt. Ltd., Jessop
Infrastructure Pvt, Ltd., Jessop Properties Pvt. Ltd., Jessop Shipyard
Limited, Jessop Wagons& Coaches Ltd., Kailash Enterprises ( New Delhi)
Pvt. Ltd., Kothi Lefin Pvt. Ltd., Kulu Properties &Finance Pvt. Ltd.,
Liluah Ceramics Pvt. Ltd., Mahan Tyres & Tubes Pvt. Ltd. (Formerly
Falken TyresLtd. ), Mahant Merchandise Pvt. Ltd., Malini Properties
Pvt. Ltd., Manidipa Properties Pvt. Ltd., Manjari Properties Pvt. Ltd.,
Mayank Services Ltd., Metro Developers Ltd., Metropole Hills Hotel Pvt.
Ltd., Monarch Exim Pvt. Ltd., Moulishree Electricals & Electronics
Ltd., Mridula Marketing Pvt. Ltd., Mudrika Commercials Pvt. Ltd.,
Mugdha Properties Pvt. Ltd., Nandini Properties Pvt. Ltd.,
NevaditaProperties Pvt. Ltd., Ocean Constructions Pte Ltd., OM Cotex
Ltd. (Formerly Ruia Cotex Ltd. ), OnixBusiness Services Ltd., Pacific
apparels Ltd., Pacific Appearels Ltd., P. K. Constructions Pvt. Ltd.,
Pacific Apparels Ltd., Pallavi Manufacturers Pvt. Ltd., Parnika
Marketing Private Ltd., Pawan HerbalsPvt. Ltd., Payneganga Sugars &
Chemicals Ltd., Radient Investment Ltd. -Maurititius, RapidInvestment
Ltd. - Maurititius, Renuka Resorts Pvt. Ltd., Realworth Trading Ltd. -
Maurititius, Rose Investment Ltd. -Mauritius, Ruia Agro Products Pvt.
Ltd., Ruia Electronics Pvt. Ltd., Ruia Holding - GMBH, Ruia Hospital &
Educational Research Institution, Ruia Hotels Pvt. Ltd., Ruia
Industries Ltd. -Maurititius, Ruia Marketing Ltd., Ruia Properties
GMBH, Ruia Technologies Ltd., Ryham Pte Limited-Singapore, Sagarika
Properties Pvt. Ltd., Sanjose Polymers Pvt. Ltd., Sarvan Commercials
Pvt. Ltd., Satarupa Properties Pvt. Ltd., Schlegel Automotive EuropeLtd
UK, Securities Brokers India Limited, Shakambari Communications Pvt.
Ltd., Shankar Traders& Dealers Ltd., Sheetal Exports Ltd., Shresth
(India) Pvt Ltd., Skypak Properties & Finance Pvt Ltd., Spices Valley
Estates Ltd., SPRResorts Ltd., Ruia Global Nivesh Pvt. Ltd. (Formerly
SPR Textiles Pvt. Ltd. ), Stephen FinancialServices Pvt. Ltd.,
Sterling Share Brokers (P) Ltd., Subhra Marketing Ltd., Sugandha
Industries Pvt. Ltd., Sukaram Marketing Ltd., Tribhuban Marketing (P)
Ltd., Udbav Commercials Pvt. Ltd., VilasMarketing Private Limited,
Wealth Field Pte Ltd., Wealth Ocean Pte Ltd. - Sinagpore, Wealth
OverseasPte Ltd. - Singapore, Wealth Valley Pte Ltd., Wealthsea Ltd. -
Maurititius, Wealth Treasury Ltd. -Maurititius, Wealth Pacific Holding
Ltd. -Maurititius, Zeal Infotech Pvt. Ltd., Zipco Industrial
FinancePvt. Ltd. Falcon Tyres Impex Pvt. Ltd., Falcon Tyres Rubbers
Pvt. Ltd., Glorious Investment Ltd. - Maurititius, Manali Properties &
Finance Pvt. Ltd., Ruia Sons Pvt. Ltd., Ruia Corporate Service Pvt.
Ltd., Shalimar Towers Pvt. Ltd., Uryamani FinanceCo Ltd.,
TulipMachineries Pvt. Ltd., Vidyuth Petrochem Pvt. Ltd., Walker
Properties Pvt. Ltd. .
The above (ii) though not required in terms of Accounting Standard 18
on "related Party Disclosure" has been disclosed in view of disclosure
requirement of the SEBI (Substantial Acquisition of Shares and
takeovers) regulations, 1997 in relation to inter se transfer of shares
among group companies.
d) Key management Personnel:
a) Mr. Pawan Kumar Ruia (Executive Chairman) (Salaried)
b) Mr. Kamal Jiwrajka (Executive Director) (Salaried)
c) Mr. Ashok Gupta (Whole - time Director) (Salaried)
d) Mr. Sunil Bhansali (Executive Director) (Salaried)
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