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ii)
Short term loan availed from bank is secured by subsequent and subservient charge on current
assets of the Company.
iii)
iv)
Working Capital facilities availed from banks are inter alia secured by way of pari passu first
charge on the current assets and pari passu second charge on fixed assets both present and
future . Further a working capital facility availed from a bank is secured by a Corporate Guarantee
of Sujana Universal Industries Ltd.
All the above loans are further secured by personal guarantees and properties of certain directors.
Vehicle loans availed are secured by hypothecation of respective assets financed.
v) Secured loans includes interest accrued and due of Rs.1,734.55 lakhs (30.09.2009 - Rs.333.01
lakhs)
b) Unsecured Loans
14 Comparatives
Unsecured loans includes certain trade creditors dues to the extent of Rs. 9,780.42 lakhs which
have been converted into unsecured loans after obtaining the consent from respective trade
creditors. These unsecured loans are repayable within a period of one and half year which
carries an interest at the rate of 6% per annum. In respect of previous year the Company has
obtained Unsecured loans from certain Companies which are repayable within one year to meet
Capital & Working Capital requirements . These loans are interest free for an initial period of six
months and thereafter carries interest @ BPLR+2%.
The accounts have been prepared for 18 months i.e. October 01 ,2009 to March 31, 2011 and are
not strictly comparable with previous year’s numbers12 months i.e., for the period October 1, 2008 to
September 30, 2009.
15 Previous year’s figures have been recast/restated wherever necessary.
For Sujana Metal Products Limited
R.K. Birla
Managing Director
S. Hanumantha Rao
Director - Finance
Place: Hyderabad V. R. Chary Shaik Ibraheem
Date: May 30, 2011 Chief Finance Officer Company Secretary
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