Annual Report 2011 - 2012 - United Breweries Limited

Notes to Financial Statements (contd.)Nature of security(All amounts in Rs.lacs, unless otherwise stated)Terms of repaymentIndian currency term loansCitibank Ltd: Rs. Nil (2011: Rs.3,288) secured by firstcharge on all moveable and immoveable properties ofthe company except Taloja, Aurangabad, Dharuhera,Chennai Breweries, Empee Breweries, UB Nizam, UBAjanta and Srikakulam Breweries.Standard Chartered Bank: Rs.1,700 (2011: Rs.4,250)secured by first mortgage and charge on all immoveableand movable properties (excluding current assets) ofChennai Breweries.Yes Bank: Rs. Nil (2011: Rs.560) secured by secondcharge on all moveable and immoveable assets ofEmpee Breweries.BNP Paribas: Rs. Nil (2011: Rs.562) secured by firstcharge on all moveable and immoveable assets ofEmpee BreweriesRabo India Finance Ltd.: Rs. Nil (2011: Rs.1,056) securedby exclusive charge on all moveable and immovableproperties and second charge on all current assetsRepayable in 73 monthly instalments after completion ofone year moratorium period from the date of loan (April2006) along with interest of 8.5% per annumRepayable in 56 monthly instalments from the date of loan(February 2008) along with interest of 12% per annumRepayable in 60 monthly instalments from the date of loan(March 2007) along with interest of 13% per annumRepayable in 48 monthly instalments after completionof one year moratorium period from the date of loan(September 2006) along with interest of 9.71% perannumRepayable in 59 equal monthly instalments from January2007 along with interest of 1 year Government of IndiaSecurity yield + 225 basis points per annum. Interest ratereset on annual basis.Unsecured borrowingsDeferred sales tax liability of Millennium Beer IndustriesLtd.–Aurangabad unit amounting to Rs.4,470 (2011:Rs.4,470) is payable to the Government of Maharashtraby virtue of being eligible after having establisheda manufacturing unit in a notified backward area.The confirmation of the sanction to the Company iscontained in ‘Certificate of Entitlement’ No. 431133-S/R-31B/Pioneer Unit /1322 dated 17.07.2002issued under Part-I of the 1993 Package Scheme ofGovernment of Maharashtra.ICICI Bank Ltd.: Rs.Nil (2011: Rs.17,500) covered bypersonal guarantee of a director of the companyCitibank: Rs.1,533 (2011: Rs.3,066) shown as currentliablities since payable within next 12 months periodThis amount is repayable in 10 years from May 2013.Loan availed in October 2008, repayable in 2 annualinstallments starting from end of 4th & 5th year from dateof first drawdown. This has been repaid during the currentyear. Applicable interest rate is 15.7%Loan availed in February 2010 repayable in 3 annual equalinstalments from February 2011. Applicable interest rateis 12%.45