Annual Report 2011 - 2012 - United Breweries Limited

Notes to the Consolidated Financial Statements (contd.)
(All amounts in Rs.lacs, unless otherwise stated)
Nature of security
Terms of repayment
Indian currency term loans
Citibank Ltd.: Rs.Nil (2011: Rs.3,288) secured by first
charge on all moveable and immoveable properties of
the company except Taloja, Aurangabad, Dharuhera,
Chennai Breweries, Empee Breweries, UB Nizam, UB
Ajanta and Srikakulam breweries.
Standard Chartered Bank: Rs.1,700 (2011: Rs.4,250)
secured by first mortgage and charge on all immoveable
and movable properties (excluding current assets) of
Chennai Breweries.
Yes Bank: Rs. Nil (2011: Rs.560) secured by second
charge on all moveable and immoveable assets of
Empee Breweries
BNP Paribas: Rs.Nil (2011: Rs.562) secured by first
charge on all moveable and immoveable assets of
Empee Breweries
Rabo India Finance Ltd.: Rs. Nil (2011: Rs.1,056) secured
by exclusive charge on all moveable and immovable
properties and second charge on all current assets
Repayable in 73 monthly instalments after completion of
one year moratorium period from the date of loan (April
2006) along with interest of 8.5% per annum
Repayable in 56 monthly instalments from the date of loan
(February 2008) along with interest of 12% per annum
Repayable in 60 monthly instalments from the date of loan
(March 2007) along with interest of 13% per annum
Repayable in 48 monthly instalments after completion
of one year moratorium period from the date of loan
(September 2006) along with interest of 9.71% per
annum
Repayable in 59 equal monthly instalments from January
2007 along with interest of 1 year Government of India
Security yield + 225 basis points per annum. Interest rate
reset on annual basis.
Unsecured borrowings
Deferred sales tax liability of Millennium Beer Industries
Ltd. - Aurangabad unit amounting to Rs.4,470 (2011:
Rs.4,470) is payable to the Government of Maharashtra
by virtue of being eligible after having established
a manufacturing unit in a notified backward area.
The confirmation of the sanction to the Company is
contained in ‘Certificate of Entitlement’ No. 431133-S/R-
31B/Pioneer Unit /1322 dated 17.07.2002 issued under
Part-I of the 1993 Package Scheme of Government of
Maharashtra.
ICICI Bank Ltd: Rs.Nil (2011: Rs.17,500) covered by
personal guarantee of a director of the company
Citibank: Rs.1,533 (2011: Rs.3,066) shown as current
liablities since payable within next 12 months period
This amount is repayable in 10 years from May 2013.
Loan availed in October 2008, repayable in 2 annual
installments starting from end of 4th & 5th year from date
of first drawdown. This has been repaid during the current
year. Applicable interest rate is 15.7%.
Loan availed in February 2010 repayable in 3 annual
equal instalments from February 2011. Applicable interest
rate is 12%.
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