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 />
13.4 Mobilization of Funds:<br />
JUBVPL, the JV Co shall raise funds for investing in KFCL by way of issue<br />
of Equity Shares / debts. Equity shares in JUBVPL shall be issued to JFIL<br />
and ISGTL in existing proportion to the shareholding of these companies<br />
so that each of the company continue to hold 50% of the equity<br />
shareholding of JUBVPL ( JV Co.). JFIL (WOS of Strategic Investor) shall<br />
subject to compliance of applicable law and as per the sanctioned scheme<br />
provide / arrange loans to JUBVPL (JV Co.) so as to ensure that the<br />
JUBVPL(JV C o.) to induct the funds in KFCL as per the Scheme.<br />
13.5 Cost of the Scheme and Monetary value of envisaged reliefs & sacrifices<br />
are as under:<br />
(Rs. / Cr)<br />
I. COST OF THE SCHEME<br />
(a) Cost of the Rehabilitation Scheme 1059.40<br />
(b) Monetary Value of Sacrifices 814.78<br />
Total I 1874.18<br />
II. Promoters /JUBVPL the JV Co. / JFIL Contribution<br />
(a) Equity by Promoters / JUBVPL the JV Co./ Associates 411.65<br />
(b) Debts ( Interest free) by Promoters / JUBVPL the JV Co./ JFIL /<br />
400.18<br />
Associates<br />
Total II 811.83<br />
(II) as % of (I) 43.32<br />
13.6 Post Restructuring Shareholding Pattern of DIL:<br />
The existing equity share capital of the company is proposed to be<br />
reduced by 60% and then every five (5) equity shares of Rs 4/- each shall<br />
be consolidated into two (2) equity share of Rs 10/- each fully paid-up in<br />
terms of section 18(2)(1) of the SICA.<br />
The existing shareholding pattern, the shareholding pattern after de-rating<br />
of the existing equity and also the shareholding pattern after infusion of<br />
fresh / conversion of existing unsecured advances from the Promoters<br />
Group into equity (post de-rating)/ would be as follows:<br />
Existing % Post derating<br />
38 --<br />
Fresh<br />
Infusion /<br />
Conversion<br />
(Rs / Cr)<br />
Propose<br />
d Equity<br />
Pattern<br />
A. Promoter s Holding<br />
Indian Promoters 31.23 58.68 12.49 42.20 54.69 86.15<br />
B. Non- Promoters Holding<br />
Institutional Investors 1.50 2.82 0.60 0.60 0.94<br />
Non-Institutional Investors 20.49 38.50 8.20 8.20 12.91<br />
Total 53.22 100.0 21.29 42.20 63.49 100.00<br />
%
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