Page 145 - FBL AR 2019-20

CORPORATE STATUTORY FINANCIAL
OVERVIEW STATEMENTS STATEMENTS

Notes to the Standalone financial statements for the year ended March 31, 2020

23 Borrowings (Non-current) (contd.)
d) Term loan for relocation of R & D units / registered office is taken from Union Bank of India with interest rate MCLR + 2.15% (effective rate
10.65%) repayable in 48 equal monthly instalments starting from December-2015. The said term loan is secured by way of first pari-passu
charge on property, plant and equipment procured with the financial assistance of the term loan and by equitable mortgage of factory
land and buildings of Dahej and Kullu.The term loan has been repaid fully during the year.
e) Vehicle loan is taken from the ICICI Bank Limited against hypothecation of the vehicles purchased, repayable in 60 monthly instalments
starting from May-2017 with interest rates 9.37%, (previous year in the range of 9.37% to 14%)
f) Term loan from Kotak Mahindra Investments Limited under the loan against property (LAP) scheme of H4,000 lakhs at interest rate of
11.00% to 12.25% p.a. payable in 15 quarterly instalments starting from March 31, 2019 and secured by way of equitable Mortgage
of Ground, 14th,15th and 16th floors of Thane One, land admeasuring approx. 45 acres located at Takawe, Pune (25acres owned by
Fermenta Biotech Limited (formerly DIL Limited) and balance 20 acres held in trust by the Managing Director of the Company and
others), and pledge of 30% equity stake in the erstwhile Fermenta Biotech Limited. Further, the said loan has been guaranteed by the
personal guarantee of the Managing Director of the Company and corporate guarantee of the Holding Company, DVK Investment
Private Limited. This term loan has been paid fully during the year.
g) Loan by way of discounting of lease rental of Thane One Building consisting of 1st floor to 13th floor from Bajaj Finance Limited the
effective rate for the current year is 9.75% (previous year effective rate in the range of 9.25% to 9.75%) repayable after 156 months on
August 15, 2030 in one instalment. The said loan is secured by hypothecation of the lease agreements of Thane One (consisting of 1st
floor to 13th floor). Further the loan has been guaranteed by the personal guarantee of the Managing Director of the Company and the
corporate guarantee of the Holding Company, DVK Investment Private Limited. During the year Company has repaid partial amount.
h) Loan against property and loan by way of discounting of lease rental of Thane One Building consisting of 1st floor to 13th floor from
Bajaj Finance Limited, the effective rate for the current year in the range of 10.00% to 10.32% (previous year effective rate in the range of
9.72% to 10.32%) The said loan is secured by hypothecation of the lease agreements of Thane One (consisting of 1st floor to 13th floor)
and equitable mortgage of the premises at Ceejay House owned by Aegean Properties Limited (APL), a wholly owned subsidiary of the
Company. Further these loans have been guaranteed by the personal guarantee of the Managing Director of the Company and the
corporate guarantee of the holding company, DVK Investment Private Limited.
24 Other financial liabilities (Non current)
( H in Lakhs )
March 31, 2020 March 31, 2019
Deposits from tenants 59.44 185.18
Total 59.44 185.18
25 Provisions (Non-current)
( H in Lakhs )
March 31, 2020 March 31, 2019
Provisions for employee benefits:
Gratuity [Refer note 45(c)] 104.10 275.32
Compensated absences 301.73 355.62
Total 405.83 630.94

26 Other liabilities (Non current)
( H in Lakhs )
March 31, 2020 March 31, 2019
Deferred rent 54.93 133.41
Total 54.93 133.41

27 Borrowings (Current)
(H inLakhs)
March 31, 2020 March 31, 2019
Loans repayable on demand
From banks (Secured)
Cash credit and Bank overdraft 2,573.89 234.24
Packing credit 6,419.83 5,132.08
Short term working capital loan 1,439.58 -

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