BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION
BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION
BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION
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Case No.70/2006 Duncans Industries Ltd. (DIL)<br />
to INR at exchange rate prevailing on the date of exercising the<br />
put option by FCCB holders, i.e. Rs 36.44 Cr and shall be paid<br />
by DIL out of the funds to be provided by KFCL in three equal<br />
annual interest free installments after a moratorium of one year<br />
from the date of sanction of scheme by BIFR.<br />
d) The principal amount of Fixed Deposits of Rs 77.73 Cr as on<br />
30.9.2010 shall be settled at 85% and Rs 66.07 Cr will be paid<br />
by DIL in full and final settlement out of the funds to be provided<br />
by KFCL. The repayment shall commence within 90 days and<br />
shall be completed within 180 days from the date of sanction of<br />
the Scheme.<br />
e) The outstanding dues of inter corporate deposits (ICDs) from<br />
various bodies corporate and 15% optionally convertible<br />
debentures, shall be settled at 25% of the principal outstanding<br />
of Rs 30.10 Cr and Rs 25 lakh respectively as on the cut off<br />
date for Rs 7.53 Cr and Rs 6.25 lakh respectively, and shall be<br />
paid by DIL out of the funds to be provided by KFCL in 3 equal<br />
annual interest free installments after a moratorium of one year<br />
from the date ofsanction of Scheme.<br />
12.4 Other Liabilities:<br />
Settlement of unsecured creditors of Fertiliser Undertaking and<br />
Residual DIL @25% of principal dues:<br />
Unsecured loans, unsecured trade creditors and other liabilities<br />
relating to Fertilizer Undertaking and residual DIL shall be settled<br />
to the extent of 25% of the principal amount thereof in installments.<br />
IOC: The outstanding dues of IOC, will be settled at 25% of the<br />
principal outstanding of Rs 56.69 Cr as on the cut off date<br />
for Rs 14.17 Cr, and shall be transferred to and paid by<br />
KFCL in 3 equal annual interest free installments after a<br />
moratorium of one year from the date of sanction of<br />
Scheme.<br />
KESCO: The outstanding dues of KESCO for supply of power to<br />
the fertilizer plant amounting to Rs 81.13 Cr will be settled<br />
at 25% as on the cut off date for Rs 20.28 Cr, and shall<br />
be transferred to and paid by KFCL in 3 equal annual<br />
interest free installments after a moratorium of one year<br />
from the date of sanction of Scheme<br />
30 --
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