Page 210 - FBL AR 2019-20

Fermenta Biotech Limited
Annual Report 2019-20

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

24 Long-term borrowings: (contd.)
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 Parent 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
Parent Company. Further these loans have been guaranteed by the personal guarantee of the Managing Director of the Parent Company
and the corporate guarantee of the holding company, DVK Investment Private Limited.
25 Other financial liabilities (Non current)
( H in Lakhs )
March 31, 2020 March 31, 2019
Deposits from tenants 59.44 185.18
59.44 185.18

26 Provisions (Non-current)
( H in Lakhs )
March 31, 2020 March 31, 2019
Provisions for employee benefits
Gratuity [Refer note 42] 104.10 275.32
Compensated absences 301.73 355.62
405.83 630.94

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

28 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 -
From others (Unsecured)
Inter corporate deposits (ICD) from Allegro Corporate Finance Advisors Pvt. Ltd. - 404.93
Inter corporate deposits (ICD) from DVK Investments Pvt. Ltd, the Holding Company - 250.00
10,433.30 6,021.25
Packing credit, cash credit from Union Bank of India, are secured by first pari-passu charge on hypothecation of stocks, book debts and and by
equitable mortgage of factory land and buildings at Dahej and Kullu and all moveable property, plant and equipment of the Parent Company
except vehicles with Yes Bank limited and Kotak Mahindra Bank Limited. The average interest rate for packing credit in foreign currency is
3.19% (EURO PCFC - EURIBOR+3%, USD PCFC - 6M LIBOR+3%) and average interest rate for cash credit is 10.00% to 10.65 %.
Packing credit from Yes Bank Limited is secured by first pari-passu charge on current assets of the Parent Company and by equitable mortgage
of factory land and buildings at Dahej and Kullu and all moveable property, plant and equipment of the Parent Company except vehicles with
Union Bank of India and Kotak Mahindra Bank Limited. The average interest rate for packing credit in foreign currency is 2.75%.

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