Page 304 - KRCL ENglish

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Notes forming part of the Consolidated Financial Statements as at 31 March, 2020
22.1

(a) The IDBI Trusteeship Services Limited has been appointed as Trustees to the Bond Holders for all
series of Bonds.
(b) All Bonds issued by the Corporation under various Series are secured by way of pari-passu charges /
mortgage created / to be created on movable / immovable assets of the Corporation.

(c) Corporation is authorised to reissue all bonds u/s 121 of the Companies Act, 1956 (Corresponding
section 73 notied under Companies Act, 2013) after complying all the formalities required for reissue
or fresh issue of bonds or both.

(d) These bonds carry a put and call option on 01/10/2024, giving a right, to redeem the bonds before
scheduled redemption date at par at the end of 5 years from the date of allotment .

(e) In terms of Section 71 of the Companies Act, 2013 the Corporation is required to create a Debenture
Redemption Reserve of an adequate amount in respect of bonds issued. However, due to accumulated
losses no Debenture Redemption Reserve has been created by the Corporation.

(f) Letter of Comfort has been given by the Ministry of Railways in respect of all the Bonds ( except 17-I
Series) issued for which No fees has been charged by MOR .

(g) KRCL has excercised call option in relation to 9.14%, 1200 taxable bonds of ` 10 lakh each 16-I series
and redeemed on 21.07.2019.
(h) The bond are listed on National Stock Exchange.

22.2

2019

342.57 110.29

239.36 78.79
TOTAL (B) 581.94 189.08
TOTAL A+B 2,331.94 1,939.08
(a) Konkan Railway Corporation Limited (KRCL) had entered into a Rupee Term Loan Agreement for `1200
crore for 20 years tenure on 9th April, 2017 with consortium of State Bank of India and Export-Import
Bank of India for its Route Electrication and Roha to Veer Doubling Project. The interest rate applicable
is one year MCLR of SBI with annual re-set clause.
(b) The facility is secured by way of a pari passu charge by way of hypothecation on all Fixed Assets
pertaining to the project, both present and future.

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