Note 1 (b) Right, Preferences and restrictions attached to shares :
The Company has only one class of Equity Shares having a par value of Rs, 10/- per share. Each share holder is entitle for one vote per share. In the event of liquidation, the equity share holders are entitle to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion to their share holding.
1Nature of Security and Terms of Repayment for Long Term Secured Borrowings
Nature of Security Terms of Repayment
1) Term Loan with the outstanding balance of Rs, 175.55 lakhs Repayable in 48 monthly installments (March 2015 : Rs, 325.53 lakh) is secured by exclusive commencing from Dec 2012 and the last charge on specific Machineries installment due in October 2016. Rate of
Interest at 8.00% p.a
2) Term Loan with the outstanding balance of Rs, 5.26 Repayable in 36 monthly installments Lakhs (March 2015 : Rs, 16.19 lakhs) is secured by exclusive with the last installment due in June 2016. charge on the vehicles Rate of Interest at 10.25% p.a.
3) Term Loan with the outstanding balance of Rs, 2.00 Repayable in 36 monthly installments Lakhs (March 2015 : Rs, 10.94 lakhs) is secured by exclusive with the last installment due in May 2016. charge on the vehicles Rate of Interest at 10.75% p.a.
4) Term Loan with the outstanding balance of Rs, 2.44 Repayable in 36 monthly installments Lakhs (March 2015 : Rs, 7.12 lakhs) is secured by exclusive with the last installment due in June 2016. charge on the vehicles Rate of Interest at 10.25% p.a.
5) Term Loan with the outstanding balance of Rs, 8.02 Repayable in 36 monthly installments Lakhs (March 2015 : Rs, 14.72 lakhs) is secured by exclusive with the last installment due in Dec. 2016. charge on the specific Machinery. Rate of Interest at 10.60% p.a.
6) Term Loan fully paid during the year Repayable in 36 monthly installments (March 2015 : Rs, 1438.57 lakh) it was secured by exclusive commencing from Nov. 2013 and the last charge on the specific Machineries. installment due in Sept. 2016. Rate of
Interest at 13.00% p.a
7) Term Loan fully paid during the year Repayable in 36 monthly installments (March 2015 : Rs, 2080.08 lakh) it was secured by exclusive commencing from Nov. 2013 and the last charge on the specific Machineries. installment due in Sept. 2016. Rate of
Interest at 13.00% p.a
8) Term Loan fully paid during the year Repayable in 36 monthly installments (March 2015 : Rs, 2151.34 lakh) it was secured by exclusive commencing from Nov. 2013 and the last charge on the specific Machineries. installment due in Sept. 2016. Rate of
Interest at 13.00% p.a
9) Term Loan with the outstanding balance of Rs, 3712.16 lakhs Repayable in 30 months payable in (March 2015 : Rs, 3663.49 lakh) is secured by first & exclusive charge quarterly installment with the moratorium on the project receivables for EPC from Surat Municipal period of 12 months and thereafter the Corporation for the three projects with the exclusive and quarterly repayment on phased manner. first charge over Escrow Account and project specific Current Assets. Rate of interest at 12.50% p.a.
10 Nature of Security and Terms of Repayment for Long Term Secured Borrowings
Nature of Security Terms of Repayment
11) Corporate Loan with the outstanding balance of Rs, 1233.68 lakhs Repayable in 10 Quarterly Installments with the (March 2015 : Rs, 1558.60 lakh) is secured by exclusive charge moratorium period of Six months.
on the specific immovable property along with the subservient Rate of interest at 13.10% p.a charge on movable fixed assets & current assets
12) Term Loan with the outstanding balance of Rs, 6161.27 lakhs Repayable in 36 months payable in (March 2015 : Rs, 6216.37 lakh) is secured by first & exclusive charge quarterly installment with the moratorium on the project receivables for EPC from Rapti Nhar Nirman Mandal-II period of 12 months.
Irrigation Depart, Basti, Uttar Pradesh with the exclusive and Rate of interest at 12.25% p.a. first charge over Escrow Account and project specific Current Assets.
13) Term Loan with the outstanding balance of Rs, 215.30 lakhs Repayable in 60 monthly installments
(March 2015 : Rs, 211.58 lakhs) is secured by exclusive charge with the last installment due in March 2019. Rate of on the property purchased Interest at 10.50% p.a
14) Term Loan with the outstanding balance of Rs, 4201.21 lakhs Repayable in 18 quartely installments
(March 2015 : Rs, 5000.00 lakhs) is secured by first & exclusive charge with the last installment due in Sept 2020. Rate of on the specific immovable property & JSL & VIL Shares Interest at 12.15% p.a
15) Term Loan with the outstanding balance of Rs, 4.27 lakhs Repayable in 36 monthly installments
(March 2015 : Rs, 6.36 lakhs) is secured by first & exclusive charge with the last installment due in July 2017. Rate of on the specific machine Interest at 10.25% p.a
16) Term Loan with the outstanding balance of Rs, 33.81 lakhs Repayable in 36 monthly installments
(March 2015 : Rs, 50.47 lakhs) is secured by first & exclusive charge with the last installment due in July 2017. Rate of on the specific vehicles Interest at 10.25% p.a
17) Term Loan with the outstanding balance of Rs, 24.92 lakhs Repayable in 36 monthly installments
(March 2015 : Rs, 37.20 lakhs) is secured by first & exclusive charge with the last installment due in July 2017. Rate of
on the specific Machineries Interest at 10.25% p.a
18) Term Loan with the outstanding balance of Rs, 10.60 lakhs Repayable in 36 monthly installments
(March 2015 : Rs, 15.83 lakhs) is secured by first & exclusive charge with the last installment due in July 2017. Rate of on the specific Machineries Interest at 10.25% p.a
19) Term Loan with the outstanding balance of Rs, 72.80 lakhs Repayable in 46 monthly installments
(March 2015 : Rs, 85.41 lakhs) is secured by first & exclusive charge with the last installment due in July 2018. Rate of on the specific vehicles Interest at 10.50 % p.a
20) Term Loan with the outstanding balance of Rs, 3677.22 Repayable in 60 monthly installments Lakhs (March 2015 : Rs, Nil lakh) is secured by exclusive commencing from Oct 2015 and the last charge on the specific Machineries. installment due in Sept. 2020. Rate of Interest at 14.00 % p.a
21) Term Loan with the outstanding balance of Rs, 3500.00 Repayable in single payment Lakhs (March 2015 : Rs, Nil lakh) is secured Against Bank on or before 07.08.2016 Guarantees Rate of Interest at 13.75 % p.a
22) Term Loan with the outstanding balance of Rs, 267.75 Repayable in 36 monthly installments Lakhs (March 2015 : Rs, Nil lakh) is secured by exclusive commencing from Oct 2015 and the last charge on the specific Machineries. installment due in Sept 2018. Rate of Interest at 14.00% p.a
i. Working capital loans are secured by hypothecation of book debts, current assets, unencumbered plant & machinery and specific immovable properties as per the sanction terms.
ii. Short Term Facilities from Banks are secured against the securities offered under the working capital loans.
23 Pursuant to the notification of Schedule II to the Companies Act, 2013 with effect from 1st April 2014, the useful life of fixed assets have been revised as prescribed there in. As a result, an amount of Rs, 485.06 lakhs representing assets whose useful life has already exhausted as on 1st April 2014 has been adjusted against retained earnings. During the year Rs, 485.06 is added to accumulated depreciation as at 01.04.2015. In respect of remaining assets additional depreciation amounting to Rs, Nil lakhs (Previous Year Rs, 1703.18 lakhs) has been charged for the Year ended 31.03.2016
The Share of Companies Income / Expenditure and Receivables / Payables in case of contracts executed in Joint Venture / Consortium under the work Sharing arrangements are reflected in the books of account of the Company under the relevant heads of account, Hence not considered again for above Disclosure
24 Disclosure required by schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and section 186(4) of the Companies Act, 2013 :
25 The accumulated losses for the year ended 31st March, 2016 have resulted in Company's erosion of more than 50 percent of its peak net worth during the immediately preceding four financial years. However, the management is of the opinion that subject to approval of Master Restructuring Agreement by banks, the Company will be able to return to profitability over the next few years and may be in position to repay Loans and pay statutory dues. Hence, the financial statements have been prepared assuming that the Company and its subsidiaries will continue as a going concern. No adjustments are hence made in the financial statements that might result from the outcome of this uncertainly.
26 CSR Expenditure :
Corporate Social Responsibility (CSR) - In View of losses incurred, expenditure on CSR is not applicable for the year ended as at 31st March, 2016. In the Previous year the Company had not spent required amount of Rs, 41.22 Lakhs
27 The previous year’s figures have been reworked, regrouped, rearranged and reclassified wherever necessary.
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