| Term Loans (along with the interest accrued thereon) from IDBI Bank Ltd
are secured by equitable mortgage of Immovable Properties situated on
Plot No. 1&2, 24, 24A, 24B, 25, 26, 27 & 28, Sector - A, Industrial
Area, Govindpura Bhopal and hypothecation of all the Fixed Assets of
the Company. The charge operates as First Charge ranking pari-passu
with Madhya Pradesh Finance Corporation for their Working Capital Term
Loan. Mr. C E Fernandes, Mr. P.L Mundhra, Mr. Bernard John, Directors
of the Company and Mrs. Everlyn C Fernandes have personally guaranteed
the repayment of the said loan(s). Further it is also secured by pledge
of 13 Lacs Equity Shares of the Company held by the Promoters.
Working Capital Term Loan of Rs. 346 Lacs from Madhya Pradesh Financial
Corporation is secured by equitable mortgage of Immovable Properties
situated on Plot No. 1&2, 24, 24A, 24B, 25, 26, 27 & 28, Sector - A,
Industrial Area, Govindpura Bhopal and hypothecation of all the Fixed
Assets of the Company situated thereon. The charge operates as First
Charge ranking pari - passu with IDBI Bank Ltd for its Term Loan. Mr. C
E Fernandes, Mr. P.L Mundhra, Mr. Bernard John, Directors of the
Company and Mrs. Everlyn C Fernandes have personally guaranteed the
repayment of the said loan(s).
Charge against FITL and WCTL from AXIS Bank has not yet been
created/modified pending documentation.
Loans from L&T Finance Ltd, HDFC Bank Ltd, ICICI Bank Ltd & Kotak
Mahindra Prime Ltd. are secured by the assets financed.
Loan from LIC of India is secured by assignment of LIC Policies (
Keyman ) of Mr C E Fernandfes, Mr Bernard John both directors of the
company and Mrs Everlyn C Fernandes promoter of th company .There is no
stipulation as to repayment of Principal amount hence classified under
long term liabilities.
ICICI Bank Ltd IDBI Bank Ltd., State Bank of India, Axis Bank Ltd,Yes
Bank Ltd., Kotak Mahindra Bank Ltd. and Standard Chartered Bank Ltd are
hereinafter collectively referred to as "the ICICI Consortium". Working
Capital Facilities of Rs. 400 Crores sanctioned by the ICICI
Components, Stock in Process, Finished Goods, Consumable Stores and Spares,
Packing material, at their factory premises, or at such other places as may
be permitted by the ICICI Consortium in their discretion from time to time
including Goods in Transit / Shipment, Book Debts, Outstanding Monies,
Receivables, Claims and Bills etc, both present and future, wherever situated
and Second pari-passu charge on all Fixed Assets of the Company, Immovable
Properties situated on Plot No. 1&2. 24, 24A, 24B, 25, 25, 27 & 28, Sector -
A, Industrial Area, Govindpura Bhopal.
Mr. C E Femandes, Mr. Bernard John, Directors of the Company and Mrs.
Everlyn C Fernandes have personally guaranteed the repayment of above
borrowings / facilities.
Further the facilities from ICICI Bank Ltd are secured by pledge of 1
Lac Equity Shares of the Company held by the Promoters.
1. Intercorporate Deposits of Rs.136986265/- include (CDs amounting to
Rs.77622428/- from 22 parties where the parties have filed suit against
the company for recovery.
2. The loans from Kotak Mahindra Bank . The Standard Chartered bank
Ltd., Citi bank Ltd., The HSBC Ltd, YES Bank and ICICI Bank have
been classified by respective bank as NPA.
3. Kotak mahindra Bank Ltd has filed suit against the company for
recovery of loan; and in case of bill discounting SBI Global Factors
Ltd, IFCI factors Ltd., and HSBC Ltd. have filed suit against the
company where the financial impact thereof is not ascertained. of the
said'loan(s). Further it is also secured by pledge of 13 Lacs Equity
Shares of the Company held by the Promoters. loan(s).
Charge against FITL and WCTL from AXIS Bank has not yet been
created/modified pending documentation.
Loans from L&T Finance Ltd,HDFC Bank Ltd, ICICI Bank Ltd & Kotak
Mahindra Prime Ltd. are secured by the assets financed.
Loan from LIC of India is secured by assignment of UC Policies ( Keyman
) of Mr C E Fernandfes . Mr Bernard John both directors of the company
and Mrs Everlyn C Fernandas promoter of th company .There is no
stipulation as to repayment of Principal amount hence classified under
long term
Terrill of Rs. 1000 Lacs from Madhya Pradesh Financial Corporation
(MPFC, is secured by way of First Charge on Leasehold Land admeasuring
One Lac Square Meters together with Buildings thereon situated at plot
no. 10, industrial, Area, Phase - II (Satlapur), Mandideep. Dist :
Raisen (M.P., ranking pari-passu basis with IDBI Bank Ltd, Union Bank
of India and The Saraswat Co-Operative Bank Ltd for their Term Loan.
Working Capita, Term Loan of Rs 500 Lacs from Madhya Pradesh Financial
Corporation (MPFC) is secured by way of first charge on all the current
assets created under the work orders financed. ' Term Loan of Rs. 560
Lacs from IDB. Bank Ltd is secured by way of First Charge on Company's
entire moveable properties and leasehold land admeasuring One Lac
Square Meters situated at Plot No. 10. Industrial Area, Phase - II
(Satlapur,. Mandideep. Dist : Raisen (M.P., and Second Charge on entire
Current Assets, ranking pari-passu basis with MPFC. Union Bank of
India and The Saraswat Co-Operative Bank Ltd for their Term Loan. -
Term Loan of Rs. 2400 Lacs from Union Bank of India is secured by way
of First Charge on Company's entire moveable properties and leasehold
land admeasuring One Lac Square Meters situated at Plot No. 10,
Industrial Area. Phase - , (Satlapur), Mandideep. Dist: Raisen (M.P)
and Second Charge on entire Current Assets, ranking pari-passu with
IDBI Bank Ltd and The Saraswat Co-Operative Bank Ltd for their Term
Loan
Term Loan of Rs. 1125 Lacs from The Saraswat Co-Operative Bank Ltd is
secured by way of First Charge on Company's entire moveable properties
and leasehold land admeasuring One Lac Square Meters situated at Plot
No. 10. Industrial Area. Phase - .1 (Satlapur), Mandideep. Dist: Raisen
(M.P.) and Second Charge on entire Current Assets, ranking pari-passu
with IDBI Bank Ltd, Union Bank of India and The Saraswat Co-Operative
Bank Ltd for their Term Loan.
Mr C E Fernandes and Mrs. Everlyn C Fernandes have personally
guaranteed the repayment of above Working Capital Loan and Term Loans
from IDB,
Bank Ltd Union Bank of India, The Saraswat Co-Operative Bank Ltd and
MPFC. GE, Industrial Systems Ltd (Holding Company) has given a
Corporate grantee for repayment of the Working Capita, Loan and Term
Loan availed from IDB, Bank Ltd, Union Bank of India and The Saraswat
Co-Operative
ICICI Bank Ltd. IDBI Bank Ltd., State Bank of India, Axis Bank Ltd,Yes
Bank Ltd., Kotak Mahindra Bank Ltd. and Standard Chartered Bank Ltd.
are hereinafter collectively referred to as "the ICICI Consortium".
Working Capital Fac.ht.es of Rs. 400 Crores sanctioned by the ICICI
Consortium are secured by First pari-passu charge on the Current Assets
of the Company comprising Raw Materials, Components, Stock in Process,
Finished Goods, Consumable Stores and Spares Packing material,, at their
factory premises, or at such other places as may be permitted by the
ICIC, Cbnsortjum m t r discretion from time to time including Goods in
Transit / Shipment, Book Debts, Outstanding Mon.es, Re,*v es Claim, and
Bills etc, both present and future, wherever situated and Second
pari-passu charge on all Rx d Ass*
Mr. C E Fernandes. Mr. Bernard John, Directors of the Company and Mrs.
Everlyn C Fernandes have personally guaranteed the repayment of above
borrowings / facilities.
Further the facilities from ICICI Bank Ltd are secured by pledge of 1
Lac Equity Shares of the Company held by the Promoters.
4. inter corporate Deposits of Rs.136986265/- include ,CDs amounting to
Rs.77622428/- from 22 parties where the parties have field suit against
the company for recovery.
5. The loans from kotak mahindra Bank. The Standard Chartered Bank
Ltd, Citi bank ltd, The HSBC LTD. YES and ICIC Bank have been
classified by respective bank as NPA.
6. Kotak Mahindra Bank. The standard Chartered bank ltd The HSBC Ltd,
YES Bank and ICICI Bank have been classified by respective bank as NPA.
Raisen (M.P.), ranking Pari-Passu with Union Bank of India and The
Saraswat Co-operative Capital Loan.
Working Capital Loan of Rs. 800 Lacs from The Saraswat Co-Operative
Bank Ltd is secured by way of First Charge on Tot any Current Assets
and Second Charge on Company, entire moveable property. and leas hold
land admeasuring One Lac Square Meters situated at Plot No. 10,
Industry Area Phase
Mandideep, Dist: Raisen (M.P.), ranking Pari-Passu with IDBI Bank Ltd
and Union Bank of India for their Work.ng Capital
7. The details of amounts outstanding to Micro, Small and Medium
Enterprises determined to the extent such part.es have - been
identified based on the available information collected by the
management. This has been relied upon by the Auditors.
8. Related Party Disclosures
As per Accounting Standard 18 the disclosures of transacts with the
related parties are given Below.
(i) List of related parties where control exists and related parties
with whom transactions have taken place and relationship.
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