Page 272 - BCML AR 2019-20

FINANCIAL STATEMENTS

Notes forming part of the Consolidated Financial Statements

Note No. : 19 Borrowings (Contd.)

During the year, Company has appointed Security Trustee for custody of the title deeds of immovable properties of all the ten sugar
units of the Company. At present title deeds of eight sugar units has been handed over and accordingly charge has been created.
c) Working Capital Loan from HDFC amounting to H Nil (Previous Year: H 38762.94 lacs) under the Scheme for extending Soft Loans to Sugar
Mills by Central Government was secured by first charge, by way of hypothecation of movable fixed assets, both present and future,
pertaining to nine sugar units of the Company viz. Balrampur, Babhnan, Tulsipur, Haidergarh, Akbarpur, Mankapur. Kumbhi, Gularia
and Maizapur and was further secured by way of hypothecation of movable fixed assets, both present and future, pertaining to three
distillery units of the Company viz. Balrampur, Babhnan and Mankapur. The said amount has been fully repaid during the year and charge
has been duly satisfied.
d) Working capital loans from ICICI are secured:
i) by way of hypothecation of entire stock of sugar, sugar in process, mill stores, bagasse, molasses and other current assets including
book debts, both present and future, of all the ten sugar units of the Company on pari passu basis with SBI, HDFC, Kotak and BOB.
e) Working capital loans from Kotak are secured:
i) by way of hypothecation of entire stock of sugar, sugar in process, mill stores, bagasse, molasses and other current assets including
book debts, both present and future, of all the ten sugar units of the Company on pari passu basis with SBI, HDFC, ICICI and BOB.
f) Working capital loans from BOB are secured:
i) by way of hypothecation of entire stock of sugar, sugar in process, mill stores, bagasse, molasses and other current assets including
book debts, both present and future, of all the ten sugar units of the Company on pari passu basis with SBI, HDFC, ICICI and Kotak.

270 | Balrampur Chini Mills Limited