| 1. Terms/ rights attached to equity shares
The Company has only one class of equity shares having par value of
Rs.10 per share. Each holder of equity shares is entitled to one vote
per share. Any dividend proposed by the Board of Directors is subject
to the approval of the shareholders in the ensuing Annual General
Meeting. Dividend declared and paid would be in Indian rupees.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
shareholders.
2. Employee Benefits
Employee benefit in the form of provident fund is a defined
contribution scheme and the contributions are charged to profit and
loss account of the year when the contribution to the respective funds
is due. There are no other obligations other than the contributions
payable to the respective authorities.
3. Details of Security Given for Secured Loans
i. Term Loan from SBH
a. First charge on fixed assets both present and future i.e. Plant and
Machinery and other movable and immovable assets of Castor Oil
Derivatives Division, situated at Plot.No.65 & 66, Export Promotional
Industrial Park, Pashamylaram Village, Patancheru, Medak.
b. Personal Guarantees of the Promoter Directors and Equitable
Mortgage of Collateral Securities owned by the Promoters and their
Associates.
4. Working capital loans from SBH and IDBI
1. State Bank of Hyderabad
a. First charge by way of hypothecation on the entire current assets
including all the stocks and book debts/receivables present and future
of Castor Oil Derivatives Division, situated at Plot.No.65 & 66, Export
Promotional Industrial Park, Pashamylaram Village, Patancheru, Medak.
b. Personal Guarantees of the Promoter Directors and Equitable
Mortgage of Collateral Securities owned by the Promoters and their
Associates.
2. IDBI
a. Personal Guarantees of the Promoter Directors and Equitable Mortgage
of Collateral Securities owned by the Promoters and their Associates
3. Term Loan from Power Finance Corporation Limited and Rural
Electrification Corporation Limited
a. A first charge by way of mortgage in favour of lenders of all the
immovable properties, present and future, of the Biomass project.
b. A first charge by way of hypothecation in favour of lenders of all
the company's movables, including movable plant and machinery spares,
tools and accessories, furniture, fixtures, vehicles and all other
movable assets, present and future, of the Biomass project;
c. A first charge on company's book debts, operating cash flows,
receivables, commissions, revenues of whatsoever nature and whether
arising, present and future, intangibles, goodwill, uncalled capital,
present and future, of the Biomass project.
d. A first charge by way of assignment or creation of charge in favour
of the Lenders of Biomass project
5. Transferring or settling dues of the bank through ARC
With respect to the Note No. 3 and 4, credit facilities obtained from
State Bank of Hyderabad having outstanding balances of Rs. 25.97 Lakhs
and Rs.1468.40 lakhs in case of Term loans and demand loan
respectively, has been now proposed to assign to ARC by the bank with
effect from 30.09.2015.
6. Provision for Gratuity and Leave Encashment: The Company has not
provided any amount towards Leave Encashment to Employees for the
current financial year.
7. Employee Stock Option Plan: During the current year, the Company has
not announced any Employee Stock Option plan (Previous Year: Nil).
8. The balances of Sundry Debtors, Sundry Creditors and Loans &
Advances are subject to confirmation from the parties.
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