Page 207 - Kolte Patil AR 2019-20

As at March 31, 2020
4,749,447
4,749,447
Number of Debentures oustanding as on March 20
Amount as on March 31, 2020 (H in Lakhs)
34,046,659
2,116
22,697,772
1,410
-
-
56,744,431
3,526
9,870,000
646
6,580,000
430
-
-
16,450,000
1,076
4,523,923
452
4,523,923
452
77,718,354
5,054
Notes forming part of the Consolidated Financial Statements
b) Optionally Convertible Debentures
15% Optionally Convertible Debentures (OCD)
*47,49,447 (March 31 , 2019 - 5,438,909) Optionally convertible debentures of ` 100 each fully paid carrying interest @ 0% p.a.(March 31, 2019 - 15%)
Series
OCD Series B
Total
Date of Issue
March 28,2014
Date of Issue
March 28,2014
As at March 31, 2019 5,438,909 5,438,909
Only upon completion of 4 years from the date of issue , the Debenture holders shall have a right to convert optionally convertible debentures into equity shares of the Company. The premium on redemption, if any, will be decided by the Board of Directors at the time of Redemption of OCD’s.
During the year 2019-20, the Company has redeemed 689,462 Optionally Convertible Debentures Series B at face value amounting to ` 689.462 Lakhs.
The Debentures are secured by mortgage of piece and parcel of property in pune.
*- On board meeting held on September 10,2019, it was discussed and resolved, to reduce the carrying interest rate of OCD (Series A & B) from 15% to 0% from July 2019 onwards.
c) Unsecured Borrowings
(i) 7,77,18,354 (March 31, 2019 - 80,513,874) 15% Optionally Convertible Debentures (Series A-H) (unsecured)
Name of Debenture Holder
Series A - C OCD’s
India Advantage Fund- III
India Advantage Fund- IV
Umedica Investment Service Private Limited
Number of Debentures oustanding as on March 19
34,046,659
22,697,772
5,674,443
Amount as on March 31, 2019 (H in Lakhs)
3,251
2,165
542
5,958
987
658
165
1,810
-
-
7,768
Total 62,418,874
Series D - G OCD’s
India Advantage Fund- III
India Advantage Fund- IV
Umedica Investment Service Private Limited
9,870,000
6,580,000
1,645,000
Total 18,095,000
Series H
Umedica Investment Service Private Limited -
Total -
Grand Total 80,513,874
Annual Report 2019-20 | 205