The Case Study - Seylan Bank

212Seylan Bank PLC Annual Report 2009Notes to the Consolidated Financial StatementsParty/PartiesAccommodatedName of Director/Key ManagementPersonnelRelationshipDeposit Aggregate Amount of Accommodationoutstanding as at 31.12.2009Rs. Mn.Nature ofAccommodationLimitRs. Mn.FundedRs. Mn.Non-FundedRs. Mn.Interest inSuspenseProvisionfor the YearRs. Mn.Bad &DoubtfulDebtProvisionfor the YearRs. Mn.(c) Common Directorship EntitiesBrown & Company PLCMr. A.L. DevasurendraDeputy Chairman Overdraft 140.00 1.209Term Loan 100.00 100.000240.00 101.209Mr. I.C. NanayakkaraDirectorCorporate Guarantee from Standard Finance Limited (Group Company ofBrowns) for LKR 240 Mn. 275,100 shares of HNB presently lodged in thecustodian account of Brown & Co. PLC at Seylan Bank PLC. Leeway available onthe value of 5,300,000 shares of HNB mortgaged to Standard Finance LimitedStandard Finance(Pvt) LimitedTaprobane HoldingsLimitedCeylease FinancialServices LimitedMr. A.L. DevasurendraDirector Demand Deposit 0.024 Term Loan 335.000 218.0910.024 335.000 218.091Mortgage over 5,300,000 shares of HNBMr. A.L. DevasurendraManaging Director Margin Trading 15.00Mr. I.C. NanayakkaraDirector Demand Deposit 0.0650.065 15.000Secured by Rs. 46,230,000 worth of quoted sharesNo. of Non-Voting Shares - 5,607,800Mr. P.L.P. WithanaDirector (Resignedw.e.f. 18.11.2009) Demand Deposit 1.231 Revolving Terms Loan 200.0001.231 Overdraft 20.000220.000Assignment over performing lease agreements at a ratio of 1:1.25 with a specialPower of Attorney up to maximum of Rs. 275.00 Mn. (to secure the term loans).Letter of undertaking confirming that the Company will settle the full outstanding orsubstitute same with performing leases if a particular lease falls into arrears for more than03 months.Letter of undertaking that they will keep us informed in the event of any change in themanagement/ownership of the Company.Loans Agreement Form.Series of Loans.Overdraft Agreement Form.Letter of Set Off (Company)Repo Rs. 2.7 Mn.SriLankan Catering(Pvt) LimitedMr. N.M. Jayamanne PCDirector Time Deposits 5.2805.280