APR Constructions Limited - Saffron Capital

3. Contingent Liabilities not provided for:
S.No. Particulars As at As at 31 st March
1 The outstanding contingent
liabilities on account of
guarantees given by the
banks
2 Claims against the
Company
not
acknowledged as debts
- Service Tax Liability
that may arise in
respect of matters in
appeal (which in turn
recoverable from the
contractee as per the
terms of contract)
(Rs. in lakhs)
30-11-2010 2010 2009 2008 2007 2006
15077.86 15082.09 15441.90 10750.30 5280.56 3257.09
628.87 628.87 628.87 - - -
- Others 9.50 9.50 - - - -
3 Corporate Guarantee given
by the Company on behalf
ofAssociate Concerns
1300.00 1300.00 - - - -
4. Secured Loans:
[i]Working Capital Loans from the Karnataka Bank Ltd., are secured by:
- hypothecationofcurrent assets on pari-passu basis with SBI & ICICI Bank.
- collateral security by way of EM of title deeds of immovable properties of promoters & Directors.
- further guaranteedby personal guarantees of4 directorsand2 coobligants.
[ii]Working Capital Loans from the ICICI Bank Ltd., are secured by:
- hypothecationofcurrentassetsonpari-passu basis with KBL & SBI,
- collateral security by way of EM of title deeds of residential property of promoter.
- further guaranteed by personal guarantees of 3 directors & 1 coobligant.
[iii]Working Capital Loans from the State Bank of India, are secured by:
- hypothecationofcurrentassetsonpari-passu basis with KBL & ICICI Bank.
- collateral security by way of EM of title deeds of immovable properties of Company
& associate company.
- further guaranteed by personal guarantees of 4 directors,1 coobligant & corporate guarantee of associate
company.
[iv]DepartmentalMobilization Advances received by the company in respect of contract works are securedby
guarantees by banks.
[v] Amounts due under HP Agreements are secured by hypothecation of specific assets
purchased under the said Hire Purchase Agreements.
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