GAMMON INDIA LIMITED
GAMMON INDIA LIMITED
GAMMON INDIA LIMITED
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the difference between outstanding loans and the termination payments receivable by the SPV<br />
from clients (in case of termination of the project due to concessionaire‟s event of default and / or<br />
force majeure events)<br />
the shortfall in payment of annuity due to non-availability of road to traffic, for annuity projects<br />
increase in O&M expenses beyond those covered in the Financing Documents, for annuity<br />
projects<br />
increase in tax payments beyond those covered in the Financing Documents, for annuity projects<br />
of REL and AEL<br />
GIL:<br />
Cash Credit -<br />
From Canara Bank Led Consortium:<br />
Secured by a charge over all the Company‟s assets in India (excluding Leasehold Property, Freehold<br />
Property and Plant & Machinery hypothecated to the Bankers and Financial Institutions under various<br />
Asset Financing Scheme).<br />
From ICICI Bank Led Consortium and other Term Loans:<br />
Secured by hypothecation of Plant & Machinery, Land & Building, Stocks and Debtors of Nagpur<br />
Branch<br />
NCD -<br />
8.75% - Secured Redeemable Non Convertible Debentures of Rs.50 Millions (2007-08 Rs.290<br />
Millions; 2006-07 Rs.290 Millions) are secured by hypothecation of specific Plant & Machinery and<br />
pari passu charge by mortgage of immovable property in Gujarat. The debentures are due for<br />
repayment at the end of 8th, 9th and 10th year from the date of allotment. i.e. 30 th March, 2003.<br />
7.50% - Redeemable Non Convertible Debentures of Rs.150 Millions (2007-08 Rs.150 Millions; 2006-<br />
07 Rs.150 Millions) and 7.25% - Redeemable Non Convertible Debentures of Rs 60 Millions (2007-08<br />
Rs.60 Millions; 2006-07 Rs.60 Millions) are secured by hypothecation of specific Plant & Machinery<br />
and pari passu charge by mortgage of immovable property in Gujarat with 8.75% Secured Redeemable<br />
Non Convertible Debentures of Rs 50 Millions (2007-08 Rs.290 Millions; 2006-07 Rs.290 Millions).<br />
The Debentures are due for repayment at the end of 8 th , 9 th and 10 th year from the date of allotment. i.e.<br />
29 th September, 2003.<br />
7.50% - Redeemable Non Convertible Debentures of Rs.380 Millions (2007-08 Rs.380 Millions ;<br />
2006-07 Rs.380 Millions) and 7.25% - Redeemable Non Convertible Debentures of Rs 120 Millions<br />
(2007-08 Rs.120 Millions ; 2006-07 Rs.120 Millions) are secured by hypothecation of specific Plant &<br />
Machinery with pari passu charge by mortgage of immovable property in Gujarat with 8.75% Secured<br />
Redeemable Non Convertible Debentures of Rs 50 Millions (2007-08 Rs.290 Millions ; 2006-07<br />
Rs.290 Millions) and 7.50% Secured Non convertible Debenture of Rs. 150 Millions (2007-08 Rs.150<br />
Millions ; 2006-07 Rs.150 Millions) and 7.25% Secured Non convertible Debenture of Rs. 60 Millions<br />
(2007-08 Rs.60 Millions ; 2006-07 Rs.60 Millions). The Debentures are due for repayment at the end<br />
of 8 th , 9 th and 10 th year from the date of allotment. i.e. 5 th August, 2005.<br />
9.95% - Redeemable Non Convertible Debentures of Rs. 500 Millions (2007-08 Rs.500 Millions ;<br />
2006-07 – Nil ) are to be secured by hypothecation of specific Plant & Machinery with pari passu<br />
charge by mortgage of immovable property in Gujarat with 8.75% Secured Redeemable Non-<br />
Convertible Debentures of Rs. 50 Millions (2007-08 Rs.50 Millions ; 2006-07 – Nil ) and 7.50%<br />
Secured Non-convertible Debenture of Rs. 530 Millions (2007-08 Rs.150 Millions ; 2006-07 – Nil )<br />
and 7.25% Secured Non convertible Debenture of Rs.180 Millions (2007-08 Rs.60 Millions ; 2006-07<br />
– Nil ). The Debentures are due for repayment at the end of 8 th , 9 th and 10 th year from the date of<br />
allotment being, 24 th March, 2008.<br />
10.8% - Redeemable Non Convertible debentures of Rs. 1000 Millions ((2007-08 & 2006-07 – Nil )<br />
are to be secured by hypothecation of specific Plant & machinery with pari passu charge by mortgage<br />
of immovable property in Gujarat with 9.95% Secured Redeemable Non-Convertible Debentures of Rs<br />
500 Millions and 8.75% Secured Redeemable Non- Convertible Debentures of Rs 50 Millions and<br />
7.5% Secured Non-convertible Debentures of Rs 530 Millions and 7.25% Secured Non Convertible<br />
Debentures of Rs 180 Millions. The Debentures are due for repayment at the end of 5 th , 6 th and 7 th year<br />
from the date of allotment being, 25 th July, 2008.<br />
<strong>GAMMON</strong> AL MATAR JOINT VENTURE:<br />
F<br />
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