BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION

Case No.70/2006 Duncans Industries Ltd. (DIL)
13.0 COST OF SCHEME AND MEANS OF FINANCE :
13.1 Cost of Scheme:
The cost of the scheme of KFCL (Fertilizer) and DIL has been estimated as
Rs. 1059.40 Cr, the break up of which is as under:-
(Rs/ Cr)
Cost of the Scheme KFCL DIL Total
1 Payment of OTS Dues of TL and balance of 257.21 - 257.21
additional working capital to Banks / FI s
2 Payment of Late payment charges (Arcil and CBI) 5.65 5.65
3 OTS Payment to Other Secured Dues (debentures, - 5.78 5.78
ICDs) out of funds from KFCL
4 Repayment of WCTL and loan - 35.69 35.69
5 Payment of other unsecured debts i.e. FCCB /
110.19 110.19
FRCN Rs.36.44 Cr, Fixed Deposits Rs 66.07 Cr,,
Inter Corporate Deposits Rs.7.53 Cr and OCD s
Rs.0.07 Cr aggregating to Rs. 110.10 Cr out of
funds from KFCL and Housing Board Rs. 0.08 Cr)
6 Statutory Dues 1.74 9.03 10.77
7 Payment of Workmen / Employees Dues 77.61 34.85 .112.46
8 Other Unsecured Creditors / Liabilities 49.99 23.68 .73.67
9 Funds for settlement of dues of other secured debts 115.88 -115.88 -
(i.e. secured debentures and deposits Rs. 5.78 Cr
and unsecured debts i.e. Fixed Deposits, Inter
Corporate Deposits and OCD s aggregating to
Rs.110.10 Cr)
10 Working Capital for Fertilizer already brought in 30.56 30.56
11 Increase in Current Assets 165.89 10.00 175.89
12 Capital expenditure 229.30 12.23 241.53
Total 897.62 161.78 1059.40
13.2 Justification for cost of scheme:
(i).
Payment to the Banks and Financial Institutions of Rs 257.21 Cr has
been provided in the cost of the Scheme.
Repayment of WCTL (SBI and SBICI) of Rs 24.32 Cr and loan (ARCIL)
of Rs 11.37 Cr have been provided in the cost of scheme out of the total
repayment WCTL / Loan of Rs 35.69 Cr envisaged by de-merged DIL
(ii).
Payment of dues of other secured lenders (secured by pledge of
investments) of Rs 5.78 Cr has been provided.
(iii). Payment of dues of unsecured lenders / debts aggregating to
Rs 110.19 Cr viz., FCCB s - Rs 36.44 Cr , fixed deposits - Rs
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