KAMDHENU ISPAT LIMITED - Securities and Exchange Board of India

OUR INDEBTEDNESS
Sr.
No
1
Lender & Type of Facility / Sanction letter
no. and date/ Terms of repayment
Term Loans
State Bank Bikaner & Jaipur
Industrial Estate, Bhiwadi (Raj)
Rs. 210.61 Lac vide
Sanction thr. Letter no. Nil dt. 18.05.2005
of which Quarterly installment beginning
from August 05.
Working Capital Loan
State Bank Bikaner & Jaipur
Industrial Estate, Bhiwadi (Raj)
Fund Based Rs.250 Lac
Non Fund Based Rs 100 Lac
Sanction letter no.NIL dated 18/05/2005
Car Loans
Rate of
interest
9.50%p.a.
10.75%
p.a.
Various
Amt. Out-standing as
on August 31, 2005
204.79 Lac
124.56 Lac
6.04 Lac
Restrictive Clauses under the Loan Agreements executed with SBBJ
1. Kamdhenu Ispat Limited will deal exclusively with SBBJ.
2. Without the bank’s permission in writing the company will not:
(a) effect any change in its capital structure
(b) formulate an scheme of amalgamation or reconstruction
(c) implement an scheme of expansion or acquire fixed assets exceeding Rs. 660.57 lacs
(d) invest by way of share capital in or lend or advance funds or place deposits with an other concern
(e) enter into borrowing arrangements with an other bank/ financial institution
(f) undertake guarantee obligations on behalf of an other company
(g) declare dividends except out of profits of that particular year and ensuring no default has occurred in any
repayment obligation that year.
3. the company will maintain minimum net working capital of Rs. 258.85 lacs.
4. The company will maintain a minimum tangible net worth of Rs. 743.80 lacs
Other Conditions :
1. Monthly operational data and stock statements to be submitted
2. Company’s performance to be reviewed quarterly by the bank
3. No overdrawing permitted without prior permission
4. Inspection of units/ factories to be carried out as per laid down procedures
5. Hypothecated securities to be kept fully insured
57
Details of Security
Primary: 1 st charge on block assets of
the company by way of hypothecation of
machinery and equipment & other fixed
assets.
Collateral:
a) Equitable mortgage of industrial plot
at A -1112 RIICO Ind Area, Phase III
Bhiwadi.
b) Equitable mortgage of two flats situated
at B-202 & B-203 ashiana green
Bhiwadi.
c) 1 st charge on immovable assets including
equitable mortgage of land
and building at plot no A -1114, RIICO
Ind Area, Bhiwadi
d) Personal guarantee of the Directors.
Primary: 1 st charge on block assets of
the company by way of hypothecation of
machinery and equipment & other fixed
assets.
Collateral:
a) Equitable mortgage of industrial plot
at A -1112 RIICO Ind Area, Phase III
Bhiwadi.
b) Equitable mortgage of two flats situated
at B-202 & B-203 ashiana green
Bhiwadi.
a) 1st charge on immovable assets including
equitable mortgage of land
and building at plot no A -1114, RIICO
Ind Area, Bhiwadi
b) Personal guarantee of the Directors.
Hypothecation of the respective Cars