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SUJANA METAL PRODUCTS LIMITED<br />
ii)<br />
iii)<br />
iv)<br />
the immovable and movable fixed assets of the Company both present and future, second<br />
charge on the current assets of the Company.<br />
Short term loan availed from bank is secured by subsequent and subservient charge on<br />
current assets of the Company.<br />
Working capital facilities availed from banks are inter alia secured by way of pari passu first<br />
charge on the current assets and pari passu second charge on fixed assets both present<br />
and future. Further a working capital facility availed from a bank is secured by a Corporate<br />
Guarantee of <strong>Sujana</strong> Universal Industries Ltd.<br />
All the above loans are further secured by personal guarantee and personal properties of<br />
certain directors.<br />
Vehicle loans availed are secured by hypothecation of respective assets financed.<br />
v) Secured loans includes interest accrued and due of Rs.1,734.55 lakhs (30.09.2009 :<br />
Rs.333.01 lakhs).<br />
b) Unsecured Loans<br />
Unsecured loans includes certain trade creditors dues to the extent of Rs. 9,780.42 lakhs which<br />
have been converted into unsecured loans after obtaining the consent from respective trade<br />
creditors. These unsecured loans are repayable within a period of one and half year which<br />
carries an interest at the rate of 6% per annum. In respect of previous year the Company has<br />
obtained Unsecured loans from certain Companies which are repayable within one year to meet<br />
Capital & Working Capital requirements . These loans are interest free for an initial period of six<br />
months and thereafter carries interest @ BPLR+2%.<br />
4 Advances to Subsidiaries<br />
The Reserve Bank of India vide their letter FE.CO.FID/20754/10.04.031/2010-11 dated 04.03.2011<br />
and FED.CO.FID/24876/10.04.031/2010-11 dated 25.04.2011 has instructed the Company to convert<br />
entire advance of Rs.13,581.35 lakhs given to its Wholly Owned Subsidiaries (WOS’s) out of GDR<br />
proceeds into equity within 120 days from the date of receipt of the letter, falling due for conversion on<br />
or before 23 August, 2011<br />
5 Dues from Diretors<br />
Loans and Advances Includes:<br />
Advances to directors : Rs.Nil (30.09.2009 - Rs.4.69 lakhs)<br />
Maximum amount outstanding during the period : Rs.4.69 lakhs (30.09.2009 : Rs.11.70 lakhs)<br />
6 Derivative Instruments<br />
Unhedged foreign currency exposure by way of derivate instruments or otherwise are as follows:<br />
(Amount in Lakhs)<br />
Particulars 2009-11 2008-09<br />
Rs. USD Rs. USD<br />
For import of goods and services 15,885.76 355.77 9,972.90 206.34<br />
From export of goods and services 20,074.89 449.61 11,664.49 241.35<br />
7. Related Party Disclosure<br />
The following are related parties as defined in “Accounting Standard (AS) 18 - Related Party<br />
Disclosures” notified under The Companies (Accounting Standards) Rules, 2006.<br />
: : 76 : :
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