Page 269 - BCML AR 2019-20

BALRAMPUR CHINI MILLS LIMITED

Notes forming part of the Consolidated Financial Statements

Note No. : 19 Borrowings
(i) Non-current (H in Lacs)
Particulars As at As at
31st March, 2020 31st March, 2019
Carried at amortized cost
Term loans
From banks
Secured
Rupee loans:
ICICI Bank Ltd. (ICICI) 21279.87 27391.12
(Acting as an agent on behalf of Government of Uttar Pradesh)
[Refer Footnote (a)(i) below]
ICICI Bank Ltd. (ICICI) [Refer Footnote (a)(ii) below] 5000.00 -
HDFC Bank Ltd. (HDFC) [Refer Footnote (a)(iii) below] 7522.50 -
From entities other than banks
Secured
Rupee loans:
Government of India, Sugar Development Fund (SDF) - 533.40
[Refer Footnote (a)(iv) below]
Long term maturities of lease obligation
Unsecured 223.75 -
34026.12 27924.52

a) Nature of securities for the aforesaid borrowings including current maturities of long term debt [Refer note no.20(ii)] and deferred
income [refer note no.21]:
i) Rupee Term Loan from Government of Uttar Pradesh amounting to H 31031.89 lacs (Previous Year: H 36508.11 lacs) under the
Scheme for Financial Assistance to Sugar Undertakings, 2018, of Uttar Pradesh Government is secured by pari passu first charge,
by way of hypothecation of movable fixed assets, both present and future, pertaining to seven cogen units of the Company viz.
Balrampur, Babhnan, Haidergarh, Akbarpur, Mankapur, Kumbhi and Gularia.
ii) Rupee Term Loan from ICICI amounting to H 5000.00 lacs (Previous year: H Nil) under Scheme for Extending Financial Assistance to
Sugar Mills for enhancement and augmentation of ethanol capacity, is secured by pari passu first charge, by way of hypothecation
of all the movable fixed assets, both present and future, pertaining to Gularia distillery unit of the Company.
iii) Rupee Term Loan from HDFC amounting to H 8024.00 lacs (Previous year: H Nil) under Scheme for Extending Financial Assistance to
Sugar Mills for enhancement and augmentation of ethanol capacity, is secured by pari passu first charge, by way of hypothecation
of all the movable fixed assets, both present and future, pertaining to Gularia distillery unit of the Company.
iv) Rupee Term Loan from SDF amounting to H 533.40 lacs (Previous year: H 1066.81 lacs) is secured by an exclusive second charge by
way of equitable mortgage on immovable properties and hypothecation of movable properties (excluding current assets and book
debts), both present and future, pertaining to Company’s sugar and cogeneration units at Rauzagaon.
v) Release of securities in respect of a long-term loan fully repaid by the Company is in progress.

Annual Report 2019-20 | 267