GAMMON INDIA LIMITED

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