Note (a)
Nature of Security
(i The Working Capital Limits from Canara Bank, Overseas Branch, Surat (Leader Bank) & Dena Bank, B.B. Branch Surat, Bank of India Main Branch Surat, Vijaya Bank Surat are under consortium finance and are secured by hypothecation of Stocks and receivables of the company on a pari passu charge. The limits are further secured by Collateral Security of Immovable property of Factory Land & Building, Commercial Shops, Residential Building and Deposits of the company. The limits are further secured by Land & building of the Subsidiary Company namely Utility Agotech Industries Pvt. Ltd. And are further secured by personal guarantee of Directors & Corporate Guarantee of M/s.Supreme Fine Fab Pvt. Ltd..
(ii) The Company has not defaulted in repayment of loans and interest in respect of the short term borrowings.
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