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SUJANA METAL PRODUCTS LIMITED<br />
16 Disclosure as per clause 32 of the Listing Agreement<br />
Loans and Advances in the nature of loans given to Subsidiaries, Associates and Others:<br />
Name of the<br />
Company<br />
GLADE STEEL PVT.<br />
LTD.<br />
SUJANA POWER<br />
(TUTICORIN) LTD.<br />
ALPHA VENTURES<br />
LTD.<br />
ASIAN TIDE<br />
ENTERPRISES LTD.<br />
SUJANA UNIVERSAL<br />
INDUSTRIES LIMITED<br />
Relationship<br />
Amount<br />
Outstanding as<br />
at period end<br />
(year end)<br />
Maximum<br />
Outstanding<br />
during the<br />
period (year)<br />
(Rupees in Lakhs)<br />
Investment<br />
in Shares of<br />
the Company<br />
(No.)<br />
Subsidiary 2,823.41 3,869.79 —<br />
113.86 1,410.93 —<br />
Associate — 376.60 —<br />
376.60 376.60 —<br />
Subsidiary 2,316.02 2,316.02 —<br />
— — —<br />
Subsidiary 11,265.33 11,265.33 —<br />
— — —<br />
Other 745.35 18,481.14 —<br />
Above loans and advances are interest free and there are no repayment schedules<br />
Note : Figures in italics relate to previous year<br />
17 Scheme of Amalgamation<br />
— — —<br />
A Scheme of Amalgamation of M/s Lakshmi Gayatri Industries Private Limited, M/s Glade Steel<br />
Private Limited, M/s Sri Ganga Steel Enterprises Private Limited and M/s Topaz Steel India Limited<br />
with the Company with effective from 1 October, 2009 (being Appointed Date)has been approved by<br />
the shareholders and secured creditors of the Company in the extra ordinary general meeting held on<br />
28 April 2011. The petition will be submitted by the Company with the Hon’ble High Court of Andhra<br />
Pradesh for the sanction of Scheme of Amalgamation under Section 391 and 394 of the Companies<br />
Act, 1956 in the month of June, 2011. In view of pending order of High Court of Andhra Pradesh, the<br />
scheme has not been given effect in the Audited Financials of the Company for the period ended 31<br />
March 2011 (18 months period (i.e. from 1.10.2009 to 31.03.2011). Further the loans and advances of<br />
Rs.5,202.50 lakhs (30.09.2009: Rs.785.39 lakhs)outstanding and receivable from these amalgamating<br />
companies as on 31 March 2011 are considered good for recovery by the management.<br />
18 Cumulative Redeemable Preference Shares<br />
1,493,365 1% of Cumulative Redeemable Preference Shares of Rs.100 each aggregating to Rs.1493.37<br />
lakhs is redeemable in 12 quarterly installments co-terminus with principal payment commencing from<br />
October 01, 2013 and ending July 01, 2016<br />
19 Stressed Assets Stabilization Fund (SASF) has communicated as follows<br />
SASF vide their letter dated 02 December 2010 has confirmed a Negotiated Settlement (NS) for the<br />
balance term loan outstanding as on 31 December 2009 (being the cut-off date) in respect of the<br />
Company and other two companies viz. Handum Industries Limited under the slump sale agreement<br />
and Sri Ganga Steel Enterprises Limited under the scheme of amalgamation to the extent of Rs.7,706.00<br />
lakhs, with the following terms and conditions:<br />
: : 86 : :
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