GAMMON INDIA LIMITED
GAMMON INDIA LIMITED
GAMMON INDIA LIMITED
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The banking facilities are in the name of a branch of a joint venture partner and are secured against a<br />
corporate guarantee of the joint venture partner, assignment of contract receivables and joint<br />
registration and insurance of all equipment.<br />
<strong>GAMMON</strong> & BILLIMORIA LLC:<br />
Bank Loans and Overdrafts:<br />
The bank loans are secured by a charge on the trade accounts receivables, subordination of loan from<br />
shareholders and corporate guarantees from related parties.<br />
Motor Vehicle Loans:<br />
Motor Vehicle and equipment purchase loans are secured by a charge on the motor vehicles and<br />
equipments purchased under financing arrangements. The loan installments payable within twelve<br />
months of the balance sheet date are classified as current liabilities.<br />
PROJECT SPV’s : AEL, REL, MNEL, KBICL, PBPL & GICL:<br />
The project Loans together with all upfront fee, interest, further interest, additional interest, liquidated<br />
damages, premium on prepayment, costs, expenses and other monies whatsoever stipulated in this<br />
Agreement (“Secured Obligations”) shall be secured by a first mortgage and charge on all the<br />
Borrower‟s immovable properties, both present and future and a first charge by way of hypothecation<br />
of all the Borrower‟s moveable assets both present and future, Borrower‟s Receivables except bonus,<br />
all bank accounts , all intangibles of the Borrower including but not limited to goodwill, rights,<br />
undertakings and uncalled capital, present and future, assignment or otherwise creation of Security<br />
Interest in all the right, title, interest, benefits, claims and demands whatsoever of the Borrower in the<br />
Project Documents, duly acknowledged and consented to by the relevant counter-parties to such Project<br />
Documents to the extent not expressly provided in each such Project Document, all as amended, varied<br />
or supplemented from time to time including all guarantees and bonds issued or to be issued in terms<br />
thereof, the right, title and interest of the Borrower by way of first charge in, to and under all the<br />
Government Approvals, all the right, title, interest, benefits, claims and demands whatsoever of the<br />
Borrower in any letter of credit, guarantee including contractor guarantees and liquidated damages and<br />
performance bond provided by any party to the Project Documents, all insurance contracts/ insurance<br />
proceeds, Pledge of 51% of equity shares held by GIL and GIPL in case of MNEL, REL, AEL and<br />
26% in case of KBICL and GICL and 30% of promoters of PBPL<br />
CBICL:<br />
Secured against mortgage of residential property of the company. Assignment of all future receivables<br />
of the company, the Pledge of shares of the Company, Corporate Guarantee of the holding company<br />
Gammon Infrastructure Projects Limited.<br />
VSPL:<br />
Secured Loans are hypothecation of movable assets and receivables of the Company.<br />
PBPL:<br />
Vehicle loan is secured by hypothecation of car purchased under the scheme from ICICI Bank Ltd.<br />
TLL:<br />
Term Loans from IDBI Bank are secured by first charge on all fixed and current assets of the company<br />
and counter corporate guarantee by Gammon India Ltd.<br />
FRANCO TOSI:<br />
Borrowings from Bank are secured by first mortgage on the company property called “Area Sud” in the<br />
municipality of Legnano- Milano<br />
GHBV:<br />
Term Loans from ICICI Bank are secured by charge over all the assets / investments of the company.<br />
The Parent Company has also pledged its entire shareholding of the company with the Bank and<br />
Corporate Guarantee by ultimate Parent Company.<br />
GIBV:<br />
Term Loans from ICICI Bank are secured by charge over all the assets / investments of the company.<br />
The Parent Company has also pledged its entire shareholding of the company with the Bank and<br />
Corporate Guarantee by ultimate Parent Company.<br />
F<br />
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