Assumptions Other Assets Resolution cost Time discount factor Debt Aggregation factor Arcil Adjustment Agriculture Property Time for resolution (yrs) Time discount factor 5 25%
10.0% 25% 10% 10%
Stamp Duty Friendly States Maharashtra Gujarat Tamil Nadu MP Karnataka Andhra Pradesh Rajasthan Uttar Pradesh Delhi West Bengal Chattisgarh Bihar Orissa
FDD: Special Situation Advisors (India) Pvt. Ltd.
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DD Date :22.7.2011
property is a vacant land situated at Boys Town along Pala-Uzhavoor road. The area is residential and agricultural and all civic amenities are within easy reach from the property.
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DD Date :22.7.2011
Corporation Bank Summary Sheet I Borrower Profile Borrower Name Bank Branch/Circle Business Group, if any Promoters Guarantors Industry Product & Capacity Operating Status Property Location (City) Property Location (State) Stamp duty Friendly Nature of Finance Location (Regd. Off.) Asset Classification Wilful Defaulters (RBI) NPA since Clarity of Title deeds Transferability of the land, plant & machinery and other assets Promoters reputation and standing in society and business circles Property(ies) available as security Value
10-Dec-12
0 Entity type Private Ltd. Co Security Details 1 Primary Security :
Unlisted
0
2
Collateral Security : Nil
Corporate / Personal Guarantee
Personal Guarantee :
Corporate Guarantee : Nil
Counter Claim Comments on Counter Claim: N.A MOE & Orig. Title Deed Fraud / CBI Form 8 / Form 13(Mortgage) in OA / Decree 13(2) / 13(4) issued SARFAESI Any Stay Attachmnt. Encumb. Custody (B/L/OL/DR)
0 0 0 II Debt Profile Lenders
Rs in Lacs % share in WC
Principal
Interest / Other charges
Total
% share in Principal #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
% share - for Valuation (Claim basis)
Term Loan (TL)
Working Capital (WC)
% share in TL
Total-Debt
-
-
0%
-
-
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Note: Principal and interest outstanding as per bank. Comments on Claim basis: United Bank of India is the sole lender
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DD Date :22.7.2011
Corporation Bank Summary Sheet III Security Details Arcil Real Estate Valuation by: Valuation as per Selling Bank
10-Dec-12
Rs in Lacs FMV as per Arcil Valuer (All lenders) Discount (%) Addtl Distress Value Banks Share NET Distress Real Estate Discount (%) as per Arcil in Distress Security Value Valuer Financial Valuer Security Valuer Value % 0 0 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! Charge Status FMV (Selling Bank share in security value)
Fixed Assets: N1 N2 N3 Total - Fixed Assets Current Assets: Raw Material WIP Finished goods Total - Current Assets Total Assets Agricultural Property Total Assets (incdg Agri property) N4 Statutory Dues Total Assets after statutory dues (incdg Agri property) Input only in shaded /yellow coloured fields please -
-
-
-
0% 0% 0%
0% 0% 0%
-
0% 0% 0%
#DIV/0!
#DIV/0! #DIV/0!
0%
-
#DIV/0!
#DIV/0!
-
0%
#DIV/0!
#DIV/0! #DIV/0!
#DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 25% #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0 #DIV/0! Alternate valuation
#DIV/0!
Assets Value ( other than agriculture property) Less: Statutory dues Less: Resolution cost Net value of the assets after adj. for Resolution Cost & Stat. Dues Resolution time period Discounting factor Financial Valuer-NPV of the assets after discount Debt Aggregation Discount Arcil Adjustment Net Value (All assets except Agricultural property) Net Value (Only Agricultural property) Additional Value (Personal Guarantee/Networth) Final Arcil Value (other than OTS) Remarks on Security Valuation Note-1 Note -2 Note -3 Note -4 Resolution Time Period Real Estate - Rate & Area Details ( Pls take it from Arcil Real estate Valuation report)
0% 10%
100,000 Particulars Area Unit/area Rate/unit Value of Property Total Remarks (if any)
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Corporation Bank Summary Sheet
10-Dec-12
IV One Time Settlement (OTS) (Please provide source of funds for settlement)
V Remarks on Due Diligence SSA -Remarks on Fin DD
SSA -Remarks on LDD (BIFR & General matters)
SSA -Remarks on LDD (DRT)
SSA -Remarks on LDD (SARFAESI)
SSA -Remarks on LDD (Default of Public Fixed Deposit)
SSA -Remarks on Real Estate Reports
VI Financial Information Sales Share capital PBDIT Reserves (excl. Reval Res)
(Rs. In Lacs) Gross Block (asset wise) Secured debt Unsecured debt Net worth PBT PAT
Net Block (asset wise)
VII Executive Summary
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DD Date :22.7.2011
Karnataka Bank Ltd. Jan 2013 Sr.No. Name of the Account Principal O/s Total O/s Value as per Bank Valuer 372.0 2177.06 257.07 3081.31 988.82 Fair Security Value (Net Value) 372.0 2177.06 257.07 3081.31 988.82 Bank's Share (Rs. In Lacs) NET Distress Resolution Final Security period ARCIL Value Value @ 25% 290.2 837.92 137.88 2294.6 346.53 2.0 3.0 1.0 2.5 2 150.3 347.5 89.35 1063.69 161.68
1 2 3 4 5 6 7 8 9 10 11 12
Surendra Construction Pvt. Ltd
LSP Agro Ltd. Pallela Jumbo Rocks P Ltd. Esteem Estate Projects P Ltd. Rustagi Impex SGV Industries
679.0 1721.6 335 3361 3747 1110
1029.0 13524.76 360 4270 5205 1339
100% 50% 100% 100 45
Total
10953.6
25727.8
6876.2
6876.3
3907.1
1812.6
Karnataka Bank Summary Sheet I Borrower Profile Borrower Name Bank Branch/Circle Business Group, if any Promoters Guarantors
04-Jan-13 M/s Surendra Constructions Pvt Ltd
M/s Surendra Constructions Pvt Ltd BTM LAYOUT BRANCH, BANGALORE
Entity type Unlisted Private Ltd. Security Details 1 Primary Security : Hypothecation of Machineries – Presently not available.
Mr. B. Surendranadha Reddy Mrs. B. Neeraja Reddy Mr. B. Surendranadha Reddy Mrs. B. Neeraja Reddy Mr. M. Rajagopal Reddy Civil Contractor 2
Industry Product & Capacity Operating Status Property Location (City) Property Location (State) Stamp duty Friendly Nature of Finance Location (Regd. Off.)
Collateral Security : Exclusive Charge on House property bearing No 5-C/323, 5th cross, 3rd block, HRBR Layout, Kalyan Nagar, Bangalore – 560043 belonging to Sri B.S. Surendranadha Reddy
Bangalore Karnataka Yes Working Capital Loan No. 323, 5th Cross, 3rd Block, HRBR Layout, Kalyan Nagar, Bangalore – 560043.
Corporate / Personal Guarantee
Asset Classification Wilful Defaulters (RBI) No NPA since 27.12.2008 Clarity of Title deeds Yes Transferability of the land, plant & machinery and other assets Promoters reputation and standing in society and business circles Property(ies) available as security Average
Personal Guarantee : Mr. B. Surendranadha Reddy Mrs. B. Neeraja Reddy Mr. M. Rajagopal Reddy Corporate Guarantee : Nil
Counter Claim Comments on Counter Claim: N.A MOE & Orig. Title Deed Fraud / CBI Form 8 / Form 13(Mortgage) in OA / Decree 13(2) / 13(4) issued
No
Value
SARFAESI Any Stay
Attachmnt. Encumb.
Custody (B/L/OL/DR)
Residential Prop. At Site No. 5C/323, Kalyana Nagar, Bangalore 0 0 II Debt Profile Lenders
371.98
Rs in Lacs % share in WC
Principal
Interest / Other charges 350
Total
% share in Principal 100% 0% 0% 0% 0% 0% 100%
% share - for Valuation (Claim basis)
Term Loan (TL)
Working Capital (WC) 679
% share in TL
Karnataka Bank Ltd.
Total-Debt
679 679
350
1,029 1,029
0%
-
679
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0%
100% 0% 0% 0% 0% 0% 100% 100% -
Note: Principal and interest outstanding as per bank. Comments on Claim basis: Karnataka Bank Ltd. is the sole lender
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Karnataka Bank Summary Sheet III Security Details Arcil Real Estate Valuation by:
04-Jan-13 M/s Surendra Constructions Pvt Ltd Rs in Lacs Valuation as per Selling Bank FMV as per Arcil Valuer (All lenders) CM Harikumar Discount (%) Addtl Distress Value Banks Share NET Distress Real Estate Discount (%) as per Arcil in Distress Security Value Valuer Financial Valuer Security Valuer Value % Exclusive 371.98 22% 290.00 290.00 100% 100% 100% 290.00 290.00 371.98 371.98 Charge Status FMV (Selling Bank share in security value)
Fixed Assets: Residential Prop. At Site No. 5N1 C/323, Kalyana Nagar, Bangalore 0 N2 0 N3 Total - Fixed Assets Current Assets: Raw Material WIP Finished goods Total - Current Assets Total Assets Agricultural Property Total Assets (incdg Agri property) N4 Statutory Dues Total Assets after statutory dues (incdg Agri property) -
371.98
-
371.98 -
0% 0% 0%
0% 0% 0%
290.00
0% 0% 0%
290.00
371.98 -
0%
-
100%
-
-
371.98 0%
290.00 100%
290.00 -
371.98 -
371.98
290.00 Input only in shaded /yellow coloured fields please
290.00 290.00 Alternate valuation 29.00 261.00 2 25% 167.04 16.70 150.34 0 150.34
371.98
Assets Value ( other than agriculture property) Less: Statutory dues Less: Resolution cost Net value of the assets after adj. for Resolution Cost & Stat. Dues Resolution time period Discounting factor Financial Valuer-NPV of the assets after discount Debt Aggregation Discount Arcil Adjustment Net Value (All assets except Agricultural property) Net Value (Only Agricultural property) Additional Value (Personal Guarantee/Networth) Final Arcil Value (other than OTS) Remarks on Security Valuation Note-1 Note -2 Note -3 Note -4 Resolution Time Period
10%
The case should take 2 years to resolve because the petitioner has been granted the liberty to appeal before the Appellate Tribunal
Real Estate - Rate & Area Details ( Pls take it from Arcil Real estate Valuation report) 100,000 Particulars Area 3,914.0 Residential Prop. At Site No. 5C/323, Kalyana Nagar, Bangalore Total 371.98 Unit/area sq.ft Rate/unit 9,504 Value of Property Remarks (if any)
371.98 Valued by C.M. Harikumar dt. 03th Jan 2013
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Karnataka Bank Summary Sheet
04-Jan-13 M/s Surendra Constructions Pvt Ltd
IV One Time Settlement (OTS) (Please provide source of funds for settlement)
21.07.2009; Rs. 1325.00 lakh
Details of reply by bank (Approved/Rejected): Approved; Borrower has paid Rs. 8.00 crores. V Remarks on Due Diligence SSA -Remarks on Fin DD
SSA -Remarks on LDD (BIFR & General matters)
SSA -Remarks on LDD (DRT)
Suit Filed: (Yes/No) : Yes Date of Suit Filing:19.07.2010 Amount of Suit:Rs.15,27,23,768.00 (interest @ 16% & 14.25 % respectively claimed before DRT) Current Status in DRT: Case posted to 18.02.2013 for filing counter to I.A M/s Sai Suraj Construction (P) Ltd has filed appeal in DRT against our SARFAESI action claiming absolute right on the house property situated at HRBR Layout and brought stay order. The same is vacated. But the borrower has filed Writ Petition before Honorable High Court of Karnataka. High Court granted stay order subject to payment of Rs. 50.00 lakhs. Accordingly borrower has paid the amount with delay. The Hon’ble High Court dismissed the writ petition on 23.11.2012 granting liberty to Petitioners to approach the Appellate authority within 3 weeks (i.e. from 23.11.2012) and directed our bank not to dispossess or auction the property in auction for a period of 4 weeks. The Petitioner has also been given liberty to approach the Appellate Authority for an interim order.
SSA -Remarks on LDD (SARFAESI)
Date of 13 (2) Notice – 26.02.2009 Amount of dues mentioned in Demand NoticeRs.13,37,12,158.00 Date of Possession Notice – 14.05.2010 (symbolic) Details of Possession Taken (Symbolic/Physical) – NA Date of Sale Notice (If Any) – NA Reserve Price – NA Date and Outcome of Auction (If Any) – NA
SSA -Remarks on LDD (Default of Public Fixed Deposit)
SSA -Remarks on Real Estate Reports
VII Executive Summary M/s Surendra Construction (P) Ltd is mainly engaged in contract and road development works. They were earlier enjoying loan facility with Centurion Bank of Punjab and the same was taken over by us during the year 2007. Further, the housing loan of Mr. Surendranadha Reddy was also taken over by us from Vijaya Bank. The borrower was allotted road development work (3 Nos.) on Sub contract basis. The same could not be completed due to various reasons like court stay, steep increase in costs etc. As a result the account became NPA. For realization of our dues, action under SARFAESI Act was initiated. Meanwhile borrower approached the bank for amicable settlement and it was agreed to accept Rs. 1325 lakh in full and final settlement of the account. However a sum of Rs. 156.22 lakh only was paid and hence the OTS failed. Further, it was permitted to release one of the mortgaged properties on payment of Rs. 8.00 crore. Accordingly Rs. 8.00 crore was received and title deeds were released from our security fold. Now borrower has filed writ petition before Honorable High Court of Karnataka. High Court granted stay order subject to payment of Rs. 50.00 lakh. Accordingly borrower has paid the amount. The amount is credited to the housing loan account between 11.05.2012 to 16.06.2012. The Hon’ble High court vide its order dated 23.11.2012 has dismissed the said writ petitions granting liberty to the borrower to approach the Appellate authority within three weeks from today i.e., 23.11.2012 and directed us not to dispossess or auction the mortgaged property for a period of 4 weeks. We have also initiated recovery proceeding before DRT Bangalore. The case is posted for further action.
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Karnataka Bank Summary Sheet I Borrower Profile Borrower Name Bank Branch/Circle Business Group, if any Promoters
04-Jan-13 M/S L.S.P Agro Limited
M/S L.S.P Agro Limited
Guarantors
Sri.B.S.Krishnan Sri.B.S.Chandrashekar Sri.B.S.Selvakumar Sri.B.S.MohanKumar Sri.B.S.Krishnan Sri.B.S.Chandrashekar Sri.B.S.Selvakumar Sri.B.S.MohanKumar Mrs. Devi (reported deceased on 14/12/2010) Mrs. Suganthi Krishnan Mrs.Vasantha Mrs.B.C. Dakshayani Mrs B.K.Chitra Kumareshan Mr.Sivakumar Mr.HemanthKumar Mr.Dharmaprakash Mr.Karthik Mr.Rajaganesh Mr.B.S.Shanmugam Mr.Muralidharan Mr.B.S.Arunachalam M/s.Vasantha Arunachalam Investments (P) Ltd M/s.Hemanth Kumar Investments (P)Ltd M/s.Dakshayani Investmens (P)Ltd M/s.Usharani Investments (P)Ltd Refining and Vanaspathi Unit Refining and Vanaspathi Unit NON OPERATIONAL
Entity type Unlisted Public Limited Co. Security Details 1 Primary Security : a) Hypothecation of book debts on pari passu basis with LVB (now KMB) b) Hypothecation of raw materials viz., all types of oils , stocks in process and finished goods., viz., Edible Oil, Vanapati, Bakery Shortening, Refined Oils etc., on pari passu basis with LVB (now KMB) c) 10 % Cash Margin for ILC/FLC opened(Not available)
Industry Product & Capacity Operating Status Property Location (City) Property Location (State) Stamp duty Friendly Nature of Finance Location (Regd. Off.)
2
Collateral Security :
Andhra Pradesh/ Tamil Nadu Yes Working Capital 12,Ponneri High Road, Elanthancherry, Andarkuppam Check Post, Manali New Town, Chennai – 600 103
Corporate / Personal Guarantee
Asset Classification Wilful Defaulters (RBI) No NPA since 30-09-2001 Clarity of Title deeds Transferability of the land, plant & machinery and other assets Promoters reputation and standing in society and business circles Property(ies) available as security Value MOE & Orig. Title Deed Fraud / CBI Form 8 / Form 13(Mortgage)
Personal Guarantee : Sri.B.S.Krishnan Sri.B.S.Chandrashekar Sri.B.S.Selvakumar Sri.B.S.MohanKumar Mrs. Devi (reported deceased on 14/12/2010) Mrs. Suganthi Krishnan Mrs.Vasantha Mrs.B.C. Dakshayani Mrs B.K.Chitra Kumareshan No
Counter Claim Comments on Counter Claim: N.A in OA / Decree 13(2) / 13(4) issued
SARFAESI Any Stay
Attachmnt. Encumb.
Custody (B/L/OL/DR)
Land at S No. 24/4K,L,M,N,O,P & S No. 24/3 Land at S No. 42/1A, 44/5, 44/2, 45/2 at Kandhampatty Vill. Salem building at above Amenities at above TS no. 92/5, 92/9, Pallapatty Vill., Salem at above building Land at TS No. 92/2 Land at TS No. 91/4, 92/8, Pallapatty Salem building at Vill. above Amenities at above Land at TS No. 16/1, 93, pallapatty Salem building atvill. above Amenities at above #REF! #REF! Total II Debt Profile Lenders
204.00 1,031.50 30.51 4.10 141.20 12.08 268.98 197.10 8.41 7.00 254.82 16.37 1.00 #REF! #REF! 2,177.06 Rs in Lacs % share in WC
Principal
Interest / Other charges 11,803
Total
% share in Principal 50% 50% 0% 0% 0% 0% 100%
% share - for Valuation (Claim basis)
Term Loan (TL)
Working Capital (WC) 1,722 1,722
% share in TL
Karnataka Bank Ltd. Kotak Mahindra Bank
Total-Debt
1,722 1,722 3,444
11,803
13,525 1,722 15,247
0%
-
3,444
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0%
50% 50% 0% 0% 0% 0% 100% 100% -
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DD Date :22.7.2011
Karnataka Bank Summary Sheet
04-Jan-13 M/S L.S.P Agro Limited
Note: Principal and interest outstanding as per bank. Comments on Claim basis: Karnataka Bank is not the sole lender to the borrower
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Karnataka Bank Summary Sheet III Security Details Arcil Real Estate Valuation by:
04-Jan-13 M/S L.S.P Agro Limited Rs in Lacs Valuation as per Selling Bank FMV as per Arcil Valuer (All lenders) Discount (%) Addtl Distress Value Banks Share NET Distress Real Estate Discount (%) as per Arcil in Distress Security Value Valuer Financial Valuer Security Valuer Value % 204.00 1,031.50 30.51 204.00 1,031.50 30.51 4.10 141.20 12.08 268.98 197.10 8.41 7.00 254.82 16.37 1.00 2,177.06 17% 25% 20% 20% 20% 10% 23% 20% 20% 20% 23% 20% 20% 50% 50% 50% 170.00 773.62 24.41 1.23 112.96 10.87 206.91 157.75 6.75 2.10 196.02 13.12 0.30 1,676.04 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% Parri-Passu with 84.99 KMB Parri-Passu with 386.76 KMB Parri-Passu with KMB 12.20 Parri-Passu with 0.61 KMB Parri-Passu with KMB 56.47 Parri-Passu with 5.43 KMB Parri-Passu with 103.44 KMB Parri-Passu with KMB 78.87 Parri-Passu with 3.37 KMB Parri-Passu with KMB 1.05 Parri-Passu with 98.00 KMB Parri-Passu with KMB 6.56 Parri-Passu with 0.15 KMB 837.92 101.99 515.69 15.25 2.05 70.59 6.04 134.47 98.54 4.20 3.50 127.40 8.18 0.50 1,088.41 Charge Status FMV (Selling Bank share in security value)
Fixed Assets: Land at S No. 24/4K,L,M,N,O,P & N1 S No. 24/3 Land at S No. 42/1A, 44/5, 44/2, N2 45/2 at Kandhampatty Vill. Salem building at above N3 Amenities at above N4 N5 N6 Land at TS No. 92/2 N7 N8 N9 Amenities at above N10 Land at TS No. 16/1, 93, N11 pallapatty vill. Salem building at above N12 Amenities at above N13 Total - Fixed Assets Current Assets: Raw Material WIP Finished goods Total - Current Assets Total Assets Agricultural Property Total Assets (incdg Agri property) N4 Statutory Dues Total Assets after statutory dues (incdg Agri property) Land at TS No. 91/4, 92/8, Pallapatty Vill. Salem building at above TS no. 92/5, 92/9, Pallapatty Vill., Salem building at above
4.10 141.20 12.08 268.98 197.10 8.41 7.00 254.82 16.37 1.00 2,177.06
2,177.06 -
2,177.06 -
0% 0% 0%
0% 0% 0%
1,676.04
0% 0% 0%
837.92
1,088.41 -
0%
-
50%
-
2,177.06
2,177.06 0%
1,676.04 50%
837.92 -
1,088.41 -
2,177.06
2,177.06
1,676.04 Input only in shaded /yellow coloured fields please
837.92 837.92 Alternate valuation 83.79 754.13 3 25% 386.11 38.61 347.50 0 347.50
1,088.41
Assets Value ( other than agriculture property) Less: Statutory dues Less: Resolution cost Net value of the assets after adj. for Resolution Cost & Stat. Dues Resolution time period Discounting factor Financial Valuer-NPV of the assets after discount Debt Aggregation Discount Arcil Adjustment Net Value (All assets except Agricultural property) Net Value (Only Agricultural property) Additional Value (Personal Guarantee/Networth) Final Arcil Value (other than OTS) Remarks on Security Valuation Note-1 Note -2 Note -3 Note -4 Resolution Time Period
10%
the case should take 3 years to resolve looking at the matter pending before DRT
Real Estate - Rate & Area Details ( Pls take it from Arcil Real estate Valuation report) 100,000 Particulars Area Unit/area acres acres sq.ft sq.ft sq.ft acres sq.ft sq.ft Rate/unit 15,000,000 34,847,972 2,553 1,000 1,466 28,313,684 1,108 186 Value of Property Remarks (if any)
Land at S No. 24/4K,L,M,N,O,P & 1.4 3.0 Land at S No. 42/1A, 44/5, 44/2, 45/2 at Kandhampatty Vill. Salem 1,195.00 building at above Amenities at above TS no. 92/5, 92/9, Pallapatty Vill., Salem 14,120.00 824.00 building at above 0.95 Land at TS No. 92/2 17,789.00 Land at TS No. 91/4, 92/8, Pallapatty Vill. Salem 4,519.00 building at above
204.00 Owned by M/s Vasantha Arundhalam Investment P Ltd., M/s Hemant Kumar 1,031.50 Owned by Smt. Deviammal, Smt. Vasantha, Smt. Suganthi, Smt. Dhakshayini, Smt. Chitra 30.51 4.10 141.20 Owned by Mr. B. S. Krishna 12.08 268.98 Owned by B.S. Shanmugam Chettiyar 197.10 Owned by B.S. Arunachalam 8.41
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DD Date :22.7.2011
Karnataka Bank Summary Sheet
04-Jan-13 M/S L.S.P Agro Limited 7.00 254.82 16.37 1.00 2,177.06
Amenities at above Land at TS No. 16/1, 93, pallapatty vill. Salem 0.90 4,400.00 building at above Amenities at above Total
acres sq.ft
28,313,333 372
Owned by b.S. Selvakumar, B.s. Mohankumar, B.S. Muralidharan, Smt.
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DD Date :22.7.2011
Karnataka Bank Summary Sheet
04-Jan-13 M/S L.S.P Agro Limited
IV One Time Settlement (OTS) (Please provide source of funds for settlement)
Details of any OTS proposal offered by borrower (Date of proposal, Amount and Terms of OTS: Rs. 490.00 lakhs dt 09.01.2012 to be paid before 31.03.2012. Details of reply by bank (Approved/Rejected): In terms of Board Res No X-6 Dt 21.01.2012, agreed to accept Rs. 490.00 lakhs in full settlement of the dues to be paid before 31.03.2012.
V Remarks on Due Diligence SSA -Remarks on Fin DD
SSA -Remarks on LDD (BIFR & General matters)
Suit No. :- C.P.No.203/02 Court Name :- High Court of Madras Current status: - The Associates India Financial Services Pvt. Ltd, one of the creditors has filed petition for Winding up of the company and same was allowed. The same has been set aside by the High Court of Madras by its order dt.17.07.2003. Suit Filed: (Yes/No) : Yes Date of Suit Filing: 02.05.2002 (Single Original Application filed along with Lakshmi Vilas Bank before DRT) Amount of Suit: Rs.21,67,51,216.99 Current Status in DRT: Case is transferred from Coimbatore DRT to Madurai DRT and reserved for final orders.
SSA -Remarks on LDD (DRT)
SSA -Remarks on LDD (SARFAESI)
SSA -Remarks on LDD (Default of Public Fixed Deposit)
SSA -Remarks on Real Estate Reports
VII Executive Summary M/s.LSP Agro Ltd a public Limited Company was engaged in manufacture of Vanaspathi, Bakery shortening, refining and trading of edible oil. Our Bank and Lakshmi Vilas Bank sanctioned working capital limits under consortium arrangement. The IDBI Bank was Term Loan lender. Initially the company faced problem from labour and the Pollution Control Board. Thereafter the company expanded its unit by installing technically advanced machineries. The company lost heavily in business and account became NPA on 30-09-2001. On default our Bank and Lakshmi Vilas Bank filed joint application before DRT Coimbatore on 02.05.2002 as OA No. 38/2002 before the DRT, Coimbatore which was later transferred and renumbered as TA No. 228/08 before the DRT, Madurai, due to change of jurisdiction.
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DD Date :22.7.2011
Karnataka Bank Summary Sheet I Borrower Profile Borrower Name Bank Branch/Circle Business Group, if any Promoters Guarantors Industry Product & Capacity Operating Status Property Location (City) Property Location (State) Stamp duty Friendly Nature of Finance Location (Regd. Off.)
04-Jan-13 Pallela Jumbo Rocks (P) Ltd.
Pallela Jumbo Rocks (P) Ltd.
Mr. Pallela Venkata Subhas Reddy (Managing Director) 2. Mrs. Pallela Kanakalakshmi (Director) Mr. Pallela Venkata Subhas Reddy (Managing Director) 2. Mrs. Pallela Kanakalakshmi (Director) Stone Crushing Unit C110 Jaw crusher and HP4 with 320 TPH HP4 Cone Crusher 270 TPH Closed
Entity type Unlisted Private Ltd. Co Security Details 1 Primary Security : All that part and parcel Stone Crushing Machinery unit only installed on Leased Land of Mr.Lavu Veeraiah at D.No.s 540 & 541, Perecharla Village, Medikonduru Mandal, Guntur District belonging to M/s.Pallela Jumbo Rocks Pvt. Ltd and since 10.09.2012 in the possession of Karnataka Bank Ltd,.
2
Collateral Security : Exclusive Charge Residential flat measuring 1150 sq.ft bearing No.202, first floor, Old Ward No.1, New Ward No.2, Block No.2, TS No.25/2, Muncipal Assessment No.8020/A, D.No. 4-14-184, Yetigadda Hanuma Reddy Towers, Anjaneyapeta Locality, Koritepadu, Guntur along with undivided share in land to the extent of 35 Sq.yards belonging to Mr.Pallela Venkata Subhash Reddy
Andhra Pradesh Yes WC & TL Flat No.C-311, Golden Home, Opp: Jute Mill, Near Swami Theatre, Krishna Nagar, Guntur – 522004.
Corporate / Personal Guarantee
Personal Guarantee : Mr. Pallela Venkata Subhas Reddy (Managing Director) 2. Mrs. Pallela Kanakalakshmi (Director) Corporate Guarantee : Nil
Asset Classification Wilful Defaulters (RBI) No NPA since Clarity of Title deeds Transferability of the land, plant & machinery and other assets Promoters reputation and standing in society and business circles Property(ies) available as security Average
Counter Claim Comments on Counter Claim: N.A MOE & Orig. Title Deed Fraud / CBI Form 8 / Form 13(Mortgage) in OA / Decree 13(2) / 13(4) issued SARFAESI Any Stay Attachmnt. Encumb. Custody (B/L/OL/DR)
Value
Residential flat at Guntur Plant & machinery at above 0 II Debt Profile Lenders -
26.90 230.17
Principal
Interest / Other charges 25
Total
% share in Principal 360 360 100% 0% 0% 0% 0% 0% 100%
% share - for Valuation (Claim basis)
Term Loan (TL) 276
Working Capital (WC) 59
% share in TL
Rs in Lacs % share in WC
Karnataka Bank Ltd.
Total-Debt
335 335
100% 0% 0% 0% 0% 0% 100% 82%
25
0%
276
59
100% 0% 0% 0% 0% 0% 100% 18% -
Note: Principal and interest outstanding as per bank. Comments on Claim basis: Karnataka Bank Ltd. is the sole lender
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Karnataka Bank Summary Sheet III Security Details Arcil Real Estate Valuation by:
04-Jan-13 Pallela Jumbo Rocks (P) Ltd. Rs in Lacs Valuation as per Selling Bank FMV as per Arcil Valuer (All lenders) c Addtl Distress Value Banks Share NET Distress Discount (%) as per Arcil in Distress Security Value Financial Valuer Security Valuer Value % Exclusive 26.90 26.90 230.17 15% 25% 0% 257.07 25% 0% 22.80 115.09 137.88 100% 100% 100% 22.80 Exclusive 230.17 0 115.09 137.88 230.17 257.07 26.90 Charge Status FMV (Selling Bank share in security value)
Fixed Assets: Residential flat at Guntur N1 Plant & machinery at above N2 N3 Total - Fixed Assets Current Assets: Raw Material WIP Finished goods Total - Current Assets Total Assets Agricultural Property Total Assets (incdg Agri property) N4 Statutory Dues Total Assets after statutory dues (incdg Agri property) 257.07 257.07 137.88 Input only in shaded /yellow coloured fields please 257.07
257.07 -
257.07 -
0% 0% 0%
0% 0% 0%
137.88
0% 0% 0%
137.88
257.07 -
0%
-
100%
-
257.07
257.07 0%
137.88 100%
137.88 -
257.07 -
137.88 137.88 Alternate valuation 13.79 124.10 1 25% 99.28 9.93 89.35 0 89.35
257.07
Assets Value ( other than agriculture property) Less: Statutory dues Less: Resolution cost Net value of the assets after adj. for Resolution Cost & Stat. Dues Resolution time period Discounting factor Financial Valuer-NPV of the assets after discount Debt Aggregation Discount Arcil Adjustment Net Value (All assets except Agricultural property) Net Value (Only Agricultural property) Additional Value (Personal Guarantee/Networth) Final Arcil Value (other than OTS) Remarks on Security Valuation Note-1 Note -2 Note -3 Note -4 Resolution Time Period
10%
The case should take 1 year to resolve as the auction date has also been finalised in 1st half of 2013
Real Estate - Rate & Area Details ( Pls take it from Arcil Real estate Valuation report) 100,000 Particulars Residential flat at Guntur Plant & machinery at above Total 257.07 Area 1,150.0 Unit/area sq.ft Rate/unit 2,339 Value of Property Remarks (if any)
26.90 Valued by Venkal CH.K dt. 06.10.12 230.17 Valued by V. Radha Krishna dt. 15.09.12
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Karnataka Bank Summary Sheet
04-Jan-13 Pallela Jumbo Rocks (P) Ltd.
IV One Time Settlement (OTS) (Please provide source of funds for settlement)
buyer did offer OTS but no clear timeline was given
V Remarks on Due Diligence SSA -Remarks on Fin DD
SSA -Remarks on LDD (BIFR & General matters)
No
SSA -Remarks on LDD (DRT)
S.A No: …… /2012 (Yet to be numbered) Current Status in S.A: Counter filed by us and case is posted to 11.03.2013 for hearing. Is there currently any Stay by DRT: No
SSA -Remarks on LDD (SARFAESI)
Date of 13 (2) Notice – 01.02.2012 Amount of dues mentioned in Demand Notice- Rs 3,13,29,992.00 Date of Possession Notice – 09.05.2012 Details of Possession Taken (Symbolic/Physical) – Symbolic possession of the property was taken on 09.05.2012 Physical possession of the plant & machineries were taken on 10.09.2012. Date of Sale Notice (If Any) – 04.02.2013 & 05.02.2013. (Proposed public Auction dates) Reserve Price – 1. Rs 175.00 lakh (stone crushing unit) 2. Rs 23.00 lakh (Residential flat) Date and Outcome of Auction (If Any) – Yet to be held.
SSA -Remarks on LDD (Default No of Public Fixed Deposit)
SSA -Remarks on Real Estate Reports
VII Executive Summary M/s. Pallela Jumbo Rocks (P) Ltd is a private limited company, running stone crushing unit. The company was dealing with the Bank since 2007 and availed the captioned facilities for setting up of Crusher unit, purchase of HP Cone Crusher and accessories, Dumper & Excavator. The company purchased all the machineries and installed, commissioned the same. After installation company had made a trial production in the month of April 2010. For supply of the raw material from the quarry to the production unit, the company had entered into agreement with a third party for a period of 6 years for which an advance of Rs 1.00 Page 2 of 5 Special Situation Advisors (India) Pvt. Ltd. Crore. The supplier has breached the contract and not supplied the raw materials. The same hampered the entire production. The company requested the Bank for rephasement of the TL facility. Accordingly facilities were rephased but interest and installments were not paid as per schedule. As a result, the accounts were classified as NPA on 28.09.2011. However, it was subsequently treated as NPA as on 30.12.2010 during the inspection process.
FDD: Special Situation Advisors (India) Pvt. Ltd.
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DD Date :22.7.2011
doc_622303972.xls
10.0% 25% 10% 10%
Stamp Duty Friendly States Maharashtra Gujarat Tamil Nadu MP Karnataka Andhra Pradesh Rajasthan Uttar Pradesh Delhi West Bengal Chattisgarh Bihar Orissa
FDD: Special Situation Advisors (India) Pvt. Ltd.
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property is a vacant land situated at Boys Town along Pala-Uzhavoor road. The area is residential and agricultural and all civic amenities are within easy reach from the property.
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Corporation Bank Summary Sheet I Borrower Profile Borrower Name Bank Branch/Circle Business Group, if any Promoters Guarantors Industry Product & Capacity Operating Status Property Location (City) Property Location (State) Stamp duty Friendly Nature of Finance Location (Regd. Off.) Asset Classification Wilful Defaulters (RBI) NPA since Clarity of Title deeds Transferability of the land, plant & machinery and other assets Promoters reputation and standing in society and business circles Property(ies) available as security Value
10-Dec-12
0 Entity type Private Ltd. Co Security Details 1 Primary Security :
Unlisted
0
2
Collateral Security : Nil
Corporate / Personal Guarantee
Personal Guarantee :
Corporate Guarantee : Nil
Counter Claim Comments on Counter Claim: N.A MOE & Orig. Title Deed Fraud / CBI Form 8 / Form 13(Mortgage) in OA / Decree 13(2) / 13(4) issued SARFAESI Any Stay Attachmnt. Encumb. Custody (B/L/OL/DR)
0 0 0 II Debt Profile Lenders
Rs in Lacs % share in WC
Principal
Interest / Other charges
Total
% share in Principal #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
% share - for Valuation (Claim basis)
Term Loan (TL)
Working Capital (WC)
% share in TL
Total-Debt
-
-
0%
-
-
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Note: Principal and interest outstanding as per bank. Comments on Claim basis: United Bank of India is the sole lender
FDD: Special Situation Advisors (India) Pvt. Ltd.
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Corporation Bank Summary Sheet III Security Details Arcil Real Estate Valuation by: Valuation as per Selling Bank
10-Dec-12
Rs in Lacs FMV as per Arcil Valuer (All lenders) Discount (%) Addtl Distress Value Banks Share NET Distress Real Estate Discount (%) as per Arcil in Distress Security Value Valuer Financial Valuer Security Valuer Value % 0 0 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! Charge Status FMV (Selling Bank share in security value)
Fixed Assets: N1 N2 N3 Total - Fixed Assets Current Assets: Raw Material WIP Finished goods Total - Current Assets Total Assets Agricultural Property Total Assets (incdg Agri property) N4 Statutory Dues Total Assets after statutory dues (incdg Agri property) Input only in shaded /yellow coloured fields please -
-
-
-
0% 0% 0%
0% 0% 0%
-
0% 0% 0%
#DIV/0!
#DIV/0! #DIV/0!
0%
-
#DIV/0!
#DIV/0!
-
0%
#DIV/0!
#DIV/0! #DIV/0!
#DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 25% #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0 #DIV/0! Alternate valuation
#DIV/0!
Assets Value ( other than agriculture property) Less: Statutory dues Less: Resolution cost Net value of the assets after adj. for Resolution Cost & Stat. Dues Resolution time period Discounting factor Financial Valuer-NPV of the assets after discount Debt Aggregation Discount Arcil Adjustment Net Value (All assets except Agricultural property) Net Value (Only Agricultural property) Additional Value (Personal Guarantee/Networth) Final Arcil Value (other than OTS) Remarks on Security Valuation Note-1 Note -2 Note -3 Note -4 Resolution Time Period Real Estate - Rate & Area Details ( Pls take it from Arcil Real estate Valuation report)
0% 10%
100,000 Particulars Area Unit/area Rate/unit Value of Property Total Remarks (if any)
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Corporation Bank Summary Sheet
10-Dec-12
IV One Time Settlement (OTS) (Please provide source of funds for settlement)
V Remarks on Due Diligence SSA -Remarks on Fin DD
SSA -Remarks on LDD (BIFR & General matters)
SSA -Remarks on LDD (DRT)
SSA -Remarks on LDD (SARFAESI)
SSA -Remarks on LDD (Default of Public Fixed Deposit)
SSA -Remarks on Real Estate Reports
VI Financial Information Sales Share capital PBDIT Reserves (excl. Reval Res)
(Rs. In Lacs) Gross Block (asset wise) Secured debt Unsecured debt Net worth PBT PAT
Net Block (asset wise)
VII Executive Summary
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Karnataka Bank Ltd. Jan 2013 Sr.No. Name of the Account Principal O/s Total O/s Value as per Bank Valuer 372.0 2177.06 257.07 3081.31 988.82 Fair Security Value (Net Value) 372.0 2177.06 257.07 3081.31 988.82 Bank's Share (Rs. In Lacs) NET Distress Resolution Final Security period ARCIL Value Value @ 25% 290.2 837.92 137.88 2294.6 346.53 2.0 3.0 1.0 2.5 2 150.3 347.5 89.35 1063.69 161.68
1 2 3 4 5 6 7 8 9 10 11 12
Surendra Construction Pvt. Ltd
LSP Agro Ltd. Pallela Jumbo Rocks P Ltd. Esteem Estate Projects P Ltd. Rustagi Impex SGV Industries
679.0 1721.6 335 3361 3747 1110
1029.0 13524.76 360 4270 5205 1339
100% 50% 100% 100 45
Total
10953.6
25727.8
6876.2
6876.3
3907.1
1812.6
Karnataka Bank Summary Sheet I Borrower Profile Borrower Name Bank Branch/Circle Business Group, if any Promoters Guarantors
04-Jan-13 M/s Surendra Constructions Pvt Ltd
M/s Surendra Constructions Pvt Ltd BTM LAYOUT BRANCH, BANGALORE
Entity type Unlisted Private Ltd. Security Details 1 Primary Security : Hypothecation of Machineries – Presently not available.
Mr. B. Surendranadha Reddy Mrs. B. Neeraja Reddy Mr. B. Surendranadha Reddy Mrs. B. Neeraja Reddy Mr. M. Rajagopal Reddy Civil Contractor 2
Industry Product & Capacity Operating Status Property Location (City) Property Location (State) Stamp duty Friendly Nature of Finance Location (Regd. Off.)
Collateral Security : Exclusive Charge on House property bearing No 5-C/323, 5th cross, 3rd block, HRBR Layout, Kalyan Nagar, Bangalore – 560043 belonging to Sri B.S. Surendranadha Reddy
Bangalore Karnataka Yes Working Capital Loan No. 323, 5th Cross, 3rd Block, HRBR Layout, Kalyan Nagar, Bangalore – 560043.
Corporate / Personal Guarantee
Asset Classification Wilful Defaulters (RBI) No NPA since 27.12.2008 Clarity of Title deeds Yes Transferability of the land, plant & machinery and other assets Promoters reputation and standing in society and business circles Property(ies) available as security Average
Personal Guarantee : Mr. B. Surendranadha Reddy Mrs. B. Neeraja Reddy Mr. M. Rajagopal Reddy Corporate Guarantee : Nil
Counter Claim Comments on Counter Claim: N.A MOE & Orig. Title Deed Fraud / CBI Form 8 / Form 13(Mortgage) in OA / Decree 13(2) / 13(4) issued
No
Value
SARFAESI Any Stay
Attachmnt. Encumb.
Custody (B/L/OL/DR)
Residential Prop. At Site No. 5C/323, Kalyana Nagar, Bangalore 0 0 II Debt Profile Lenders
371.98
Rs in Lacs % share in WC
Principal
Interest / Other charges 350
Total
% share in Principal 100% 0% 0% 0% 0% 0% 100%
% share - for Valuation (Claim basis)
Term Loan (TL)
Working Capital (WC) 679
% share in TL
Karnataka Bank Ltd.
Total-Debt
679 679
350
1,029 1,029
0%
-
679
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0%
100% 0% 0% 0% 0% 0% 100% 100% -
Note: Principal and interest outstanding as per bank. Comments on Claim basis: Karnataka Bank Ltd. is the sole lender
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Karnataka Bank Summary Sheet III Security Details Arcil Real Estate Valuation by:
04-Jan-13 M/s Surendra Constructions Pvt Ltd Rs in Lacs Valuation as per Selling Bank FMV as per Arcil Valuer (All lenders) CM Harikumar Discount (%) Addtl Distress Value Banks Share NET Distress Real Estate Discount (%) as per Arcil in Distress Security Value Valuer Financial Valuer Security Valuer Value % Exclusive 371.98 22% 290.00 290.00 100% 100% 100% 290.00 290.00 371.98 371.98 Charge Status FMV (Selling Bank share in security value)
Fixed Assets: Residential Prop. At Site No. 5N1 C/323, Kalyana Nagar, Bangalore 0 N2 0 N3 Total - Fixed Assets Current Assets: Raw Material WIP Finished goods Total - Current Assets Total Assets Agricultural Property Total Assets (incdg Agri property) N4 Statutory Dues Total Assets after statutory dues (incdg Agri property) -
371.98
-
371.98 -
0% 0% 0%
0% 0% 0%
290.00
0% 0% 0%
290.00
371.98 -
0%
-
100%
-
-
371.98 0%
290.00 100%
290.00 -
371.98 -
371.98
290.00 Input only in shaded /yellow coloured fields please
290.00 290.00 Alternate valuation 29.00 261.00 2 25% 167.04 16.70 150.34 0 150.34
371.98
Assets Value ( other than agriculture property) Less: Statutory dues Less: Resolution cost Net value of the assets after adj. for Resolution Cost & Stat. Dues Resolution time period Discounting factor Financial Valuer-NPV of the assets after discount Debt Aggregation Discount Arcil Adjustment Net Value (All assets except Agricultural property) Net Value (Only Agricultural property) Additional Value (Personal Guarantee/Networth) Final Arcil Value (other than OTS) Remarks on Security Valuation Note-1 Note -2 Note -3 Note -4 Resolution Time Period
10%
The case should take 2 years to resolve because the petitioner has been granted the liberty to appeal before the Appellate Tribunal
Real Estate - Rate & Area Details ( Pls take it from Arcil Real estate Valuation report) 100,000 Particulars Area 3,914.0 Residential Prop. At Site No. 5C/323, Kalyana Nagar, Bangalore Total 371.98 Unit/area sq.ft Rate/unit 9,504 Value of Property Remarks (if any)
371.98 Valued by C.M. Harikumar dt. 03th Jan 2013
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Karnataka Bank Summary Sheet
04-Jan-13 M/s Surendra Constructions Pvt Ltd
IV One Time Settlement (OTS) (Please provide source of funds for settlement)
21.07.2009; Rs. 1325.00 lakh
Details of reply by bank (Approved/Rejected): Approved; Borrower has paid Rs. 8.00 crores. V Remarks on Due Diligence SSA -Remarks on Fin DD
SSA -Remarks on LDD (BIFR & General matters)
SSA -Remarks on LDD (DRT)
Suit Filed: (Yes/No) : Yes Date of Suit Filing:19.07.2010 Amount of Suit:Rs.15,27,23,768.00 (interest @ 16% & 14.25 % respectively claimed before DRT) Current Status in DRT: Case posted to 18.02.2013 for filing counter to I.A M/s Sai Suraj Construction (P) Ltd has filed appeal in DRT against our SARFAESI action claiming absolute right on the house property situated at HRBR Layout and brought stay order. The same is vacated. But the borrower has filed Writ Petition before Honorable High Court of Karnataka. High Court granted stay order subject to payment of Rs. 50.00 lakhs. Accordingly borrower has paid the amount with delay. The Hon’ble High Court dismissed the writ petition on 23.11.2012 granting liberty to Petitioners to approach the Appellate authority within 3 weeks (i.e. from 23.11.2012) and directed our bank not to dispossess or auction the property in auction for a period of 4 weeks. The Petitioner has also been given liberty to approach the Appellate Authority for an interim order.
SSA -Remarks on LDD (SARFAESI)
Date of 13 (2) Notice – 26.02.2009 Amount of dues mentioned in Demand NoticeRs.13,37,12,158.00 Date of Possession Notice – 14.05.2010 (symbolic) Details of Possession Taken (Symbolic/Physical) – NA Date of Sale Notice (If Any) – NA Reserve Price – NA Date and Outcome of Auction (If Any) – NA
SSA -Remarks on LDD (Default of Public Fixed Deposit)
SSA -Remarks on Real Estate Reports
VII Executive Summary M/s Surendra Construction (P) Ltd is mainly engaged in contract and road development works. They were earlier enjoying loan facility with Centurion Bank of Punjab and the same was taken over by us during the year 2007. Further, the housing loan of Mr. Surendranadha Reddy was also taken over by us from Vijaya Bank. The borrower was allotted road development work (3 Nos.) on Sub contract basis. The same could not be completed due to various reasons like court stay, steep increase in costs etc. As a result the account became NPA. For realization of our dues, action under SARFAESI Act was initiated. Meanwhile borrower approached the bank for amicable settlement and it was agreed to accept Rs. 1325 lakh in full and final settlement of the account. However a sum of Rs. 156.22 lakh only was paid and hence the OTS failed. Further, it was permitted to release one of the mortgaged properties on payment of Rs. 8.00 crore. Accordingly Rs. 8.00 crore was received and title deeds were released from our security fold. Now borrower has filed writ petition before Honorable High Court of Karnataka. High Court granted stay order subject to payment of Rs. 50.00 lakh. Accordingly borrower has paid the amount. The amount is credited to the housing loan account between 11.05.2012 to 16.06.2012. The Hon’ble High court vide its order dated 23.11.2012 has dismissed the said writ petitions granting liberty to the borrower to approach the Appellate authority within three weeks from today i.e., 23.11.2012 and directed us not to dispossess or auction the mortgaged property for a period of 4 weeks. We have also initiated recovery proceeding before DRT Bangalore. The case is posted for further action.
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Karnataka Bank Summary Sheet I Borrower Profile Borrower Name Bank Branch/Circle Business Group, if any Promoters
04-Jan-13 M/S L.S.P Agro Limited
M/S L.S.P Agro Limited
Guarantors
Sri.B.S.Krishnan Sri.B.S.Chandrashekar Sri.B.S.Selvakumar Sri.B.S.MohanKumar Sri.B.S.Krishnan Sri.B.S.Chandrashekar Sri.B.S.Selvakumar Sri.B.S.MohanKumar Mrs. Devi (reported deceased on 14/12/2010) Mrs. Suganthi Krishnan Mrs.Vasantha Mrs.B.C. Dakshayani Mrs B.K.Chitra Kumareshan Mr.Sivakumar Mr.HemanthKumar Mr.Dharmaprakash Mr.Karthik Mr.Rajaganesh Mr.B.S.Shanmugam Mr.Muralidharan Mr.B.S.Arunachalam M/s.Vasantha Arunachalam Investments (P) Ltd M/s.Hemanth Kumar Investments (P)Ltd M/s.Dakshayani Investmens (P)Ltd M/s.Usharani Investments (P)Ltd Refining and Vanaspathi Unit Refining and Vanaspathi Unit NON OPERATIONAL
Entity type Unlisted Public Limited Co. Security Details 1 Primary Security : a) Hypothecation of book debts on pari passu basis with LVB (now KMB) b) Hypothecation of raw materials viz., all types of oils , stocks in process and finished goods., viz., Edible Oil, Vanapati, Bakery Shortening, Refined Oils etc., on pari passu basis with LVB (now KMB) c) 10 % Cash Margin for ILC/FLC opened(Not available)
Industry Product & Capacity Operating Status Property Location (City) Property Location (State) Stamp duty Friendly Nature of Finance Location (Regd. Off.)
2
Collateral Security :
Andhra Pradesh/ Tamil Nadu Yes Working Capital 12,Ponneri High Road, Elanthancherry, Andarkuppam Check Post, Manali New Town, Chennai – 600 103
Corporate / Personal Guarantee
Asset Classification Wilful Defaulters (RBI) No NPA since 30-09-2001 Clarity of Title deeds Transferability of the land, plant & machinery and other assets Promoters reputation and standing in society and business circles Property(ies) available as security Value MOE & Orig. Title Deed Fraud / CBI Form 8 / Form 13(Mortgage)
Personal Guarantee : Sri.B.S.Krishnan Sri.B.S.Chandrashekar Sri.B.S.Selvakumar Sri.B.S.MohanKumar Mrs. Devi (reported deceased on 14/12/2010) Mrs. Suganthi Krishnan Mrs.Vasantha Mrs.B.C. Dakshayani Mrs B.K.Chitra Kumareshan No
Counter Claim Comments on Counter Claim: N.A in OA / Decree 13(2) / 13(4) issued
SARFAESI Any Stay
Attachmnt. Encumb.
Custody (B/L/OL/DR)
Land at S No. 24/4K,L,M,N,O,P & S No. 24/3 Land at S No. 42/1A, 44/5, 44/2, 45/2 at Kandhampatty Vill. Salem building at above Amenities at above TS no. 92/5, 92/9, Pallapatty Vill., Salem at above building Land at TS No. 92/2 Land at TS No. 91/4, 92/8, Pallapatty Salem building at Vill. above Amenities at above Land at TS No. 16/1, 93, pallapatty Salem building atvill. above Amenities at above #REF! #REF! Total II Debt Profile Lenders
204.00 1,031.50 30.51 4.10 141.20 12.08 268.98 197.10 8.41 7.00 254.82 16.37 1.00 #REF! #REF! 2,177.06 Rs in Lacs % share in WC
Principal
Interest / Other charges 11,803
Total
% share in Principal 50% 50% 0% 0% 0% 0% 100%
% share - for Valuation (Claim basis)
Term Loan (TL)
Working Capital (WC) 1,722 1,722
% share in TL
Karnataka Bank Ltd. Kotak Mahindra Bank
Total-Debt
1,722 1,722 3,444
11,803
13,525 1,722 15,247
0%
-
3,444
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0%
50% 50% 0% 0% 0% 0% 100% 100% -
FDD: Special Situation Advisors (India) Pvt. Ltd.
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DD Date :22.7.2011
Karnataka Bank Summary Sheet
04-Jan-13 M/S L.S.P Agro Limited
Note: Principal and interest outstanding as per bank. Comments on Claim basis: Karnataka Bank is not the sole lender to the borrower
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Karnataka Bank Summary Sheet III Security Details Arcil Real Estate Valuation by:
04-Jan-13 M/S L.S.P Agro Limited Rs in Lacs Valuation as per Selling Bank FMV as per Arcil Valuer (All lenders) Discount (%) Addtl Distress Value Banks Share NET Distress Real Estate Discount (%) as per Arcil in Distress Security Value Valuer Financial Valuer Security Valuer Value % 204.00 1,031.50 30.51 204.00 1,031.50 30.51 4.10 141.20 12.08 268.98 197.10 8.41 7.00 254.82 16.37 1.00 2,177.06 17% 25% 20% 20% 20% 10% 23% 20% 20% 20% 23% 20% 20% 50% 50% 50% 170.00 773.62 24.41 1.23 112.96 10.87 206.91 157.75 6.75 2.10 196.02 13.12 0.30 1,676.04 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% Parri-Passu with 84.99 KMB Parri-Passu with 386.76 KMB Parri-Passu with KMB 12.20 Parri-Passu with 0.61 KMB Parri-Passu with KMB 56.47 Parri-Passu with 5.43 KMB Parri-Passu with 103.44 KMB Parri-Passu with KMB 78.87 Parri-Passu with 3.37 KMB Parri-Passu with KMB 1.05 Parri-Passu with 98.00 KMB Parri-Passu with KMB 6.56 Parri-Passu with 0.15 KMB 837.92 101.99 515.69 15.25 2.05 70.59 6.04 134.47 98.54 4.20 3.50 127.40 8.18 0.50 1,088.41 Charge Status FMV (Selling Bank share in security value)
Fixed Assets: Land at S No. 24/4K,L,M,N,O,P & N1 S No. 24/3 Land at S No. 42/1A, 44/5, 44/2, N2 45/2 at Kandhampatty Vill. Salem building at above N3 Amenities at above N4 N5 N6 Land at TS No. 92/2 N7 N8 N9 Amenities at above N10 Land at TS No. 16/1, 93, N11 pallapatty vill. Salem building at above N12 Amenities at above N13 Total - Fixed Assets Current Assets: Raw Material WIP Finished goods Total - Current Assets Total Assets Agricultural Property Total Assets (incdg Agri property) N4 Statutory Dues Total Assets after statutory dues (incdg Agri property) Land at TS No. 91/4, 92/8, Pallapatty Vill. Salem building at above TS no. 92/5, 92/9, Pallapatty Vill., Salem building at above
4.10 141.20 12.08 268.98 197.10 8.41 7.00 254.82 16.37 1.00 2,177.06
2,177.06 -
2,177.06 -
0% 0% 0%
0% 0% 0%
1,676.04
0% 0% 0%
837.92
1,088.41 -
0%
-
50%
-
2,177.06
2,177.06 0%
1,676.04 50%
837.92 -
1,088.41 -
2,177.06
2,177.06
1,676.04 Input only in shaded /yellow coloured fields please
837.92 837.92 Alternate valuation 83.79 754.13 3 25% 386.11 38.61 347.50 0 347.50
1,088.41
Assets Value ( other than agriculture property) Less: Statutory dues Less: Resolution cost Net value of the assets after adj. for Resolution Cost & Stat. Dues Resolution time period Discounting factor Financial Valuer-NPV of the assets after discount Debt Aggregation Discount Arcil Adjustment Net Value (All assets except Agricultural property) Net Value (Only Agricultural property) Additional Value (Personal Guarantee/Networth) Final Arcil Value (other than OTS) Remarks on Security Valuation Note-1 Note -2 Note -3 Note -4 Resolution Time Period
10%
the case should take 3 years to resolve looking at the matter pending before DRT
Real Estate - Rate & Area Details ( Pls take it from Arcil Real estate Valuation report) 100,000 Particulars Area Unit/area acres acres sq.ft sq.ft sq.ft acres sq.ft sq.ft Rate/unit 15,000,000 34,847,972 2,553 1,000 1,466 28,313,684 1,108 186 Value of Property Remarks (if any)
Land at S No. 24/4K,L,M,N,O,P & 1.4 3.0 Land at S No. 42/1A, 44/5, 44/2, 45/2 at Kandhampatty Vill. Salem 1,195.00 building at above Amenities at above TS no. 92/5, 92/9, Pallapatty Vill., Salem 14,120.00 824.00 building at above 0.95 Land at TS No. 92/2 17,789.00 Land at TS No. 91/4, 92/8, Pallapatty Vill. Salem 4,519.00 building at above
204.00 Owned by M/s Vasantha Arundhalam Investment P Ltd., M/s Hemant Kumar 1,031.50 Owned by Smt. Deviammal, Smt. Vasantha, Smt. Suganthi, Smt. Dhakshayini, Smt. Chitra 30.51 4.10 141.20 Owned by Mr. B. S. Krishna 12.08 268.98 Owned by B.S. Shanmugam Chettiyar 197.10 Owned by B.S. Arunachalam 8.41
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Karnataka Bank Summary Sheet
04-Jan-13 M/S L.S.P Agro Limited 7.00 254.82 16.37 1.00 2,177.06
Amenities at above Land at TS No. 16/1, 93, pallapatty vill. Salem 0.90 4,400.00 building at above Amenities at above Total
acres sq.ft
28,313,333 372
Owned by b.S. Selvakumar, B.s. Mohankumar, B.S. Muralidharan, Smt.
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Karnataka Bank Summary Sheet
04-Jan-13 M/S L.S.P Agro Limited
IV One Time Settlement (OTS) (Please provide source of funds for settlement)
Details of any OTS proposal offered by borrower (Date of proposal, Amount and Terms of OTS: Rs. 490.00 lakhs dt 09.01.2012 to be paid before 31.03.2012. Details of reply by bank (Approved/Rejected): In terms of Board Res No X-6 Dt 21.01.2012, agreed to accept Rs. 490.00 lakhs in full settlement of the dues to be paid before 31.03.2012.
V Remarks on Due Diligence SSA -Remarks on Fin DD
SSA -Remarks on LDD (BIFR & General matters)
Suit No. :- C.P.No.203/02 Court Name :- High Court of Madras Current status: - The Associates India Financial Services Pvt. Ltd, one of the creditors has filed petition for Winding up of the company and same was allowed. The same has been set aside by the High Court of Madras by its order dt.17.07.2003. Suit Filed: (Yes/No) : Yes Date of Suit Filing: 02.05.2002 (Single Original Application filed along with Lakshmi Vilas Bank before DRT) Amount of Suit: Rs.21,67,51,216.99 Current Status in DRT: Case is transferred from Coimbatore DRT to Madurai DRT and reserved for final orders.
SSA -Remarks on LDD (DRT)
SSA -Remarks on LDD (SARFAESI)
SSA -Remarks on LDD (Default of Public Fixed Deposit)
SSA -Remarks on Real Estate Reports
VII Executive Summary M/s.LSP Agro Ltd a public Limited Company was engaged in manufacture of Vanaspathi, Bakery shortening, refining and trading of edible oil. Our Bank and Lakshmi Vilas Bank sanctioned working capital limits under consortium arrangement. The IDBI Bank was Term Loan lender. Initially the company faced problem from labour and the Pollution Control Board. Thereafter the company expanded its unit by installing technically advanced machineries. The company lost heavily in business and account became NPA on 30-09-2001. On default our Bank and Lakshmi Vilas Bank filed joint application before DRT Coimbatore on 02.05.2002 as OA No. 38/2002 before the DRT, Coimbatore which was later transferred and renumbered as TA No. 228/08 before the DRT, Madurai, due to change of jurisdiction.
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Karnataka Bank Summary Sheet I Borrower Profile Borrower Name Bank Branch/Circle Business Group, if any Promoters Guarantors Industry Product & Capacity Operating Status Property Location (City) Property Location (State) Stamp duty Friendly Nature of Finance Location (Regd. Off.)
04-Jan-13 Pallela Jumbo Rocks (P) Ltd.
Pallela Jumbo Rocks (P) Ltd.
Mr. Pallela Venkata Subhas Reddy (Managing Director) 2. Mrs. Pallela Kanakalakshmi (Director) Mr. Pallela Venkata Subhas Reddy (Managing Director) 2. Mrs. Pallela Kanakalakshmi (Director) Stone Crushing Unit C110 Jaw crusher and HP4 with 320 TPH HP4 Cone Crusher 270 TPH Closed
Entity type Unlisted Private Ltd. Co Security Details 1 Primary Security : All that part and parcel Stone Crushing Machinery unit only installed on Leased Land of Mr.Lavu Veeraiah at D.No.s 540 & 541, Perecharla Village, Medikonduru Mandal, Guntur District belonging to M/s.Pallela Jumbo Rocks Pvt. Ltd and since 10.09.2012 in the possession of Karnataka Bank Ltd,.
2
Collateral Security : Exclusive Charge Residential flat measuring 1150 sq.ft bearing No.202, first floor, Old Ward No.1, New Ward No.2, Block No.2, TS No.25/2, Muncipal Assessment No.8020/A, D.No. 4-14-184, Yetigadda Hanuma Reddy Towers, Anjaneyapeta Locality, Koritepadu, Guntur along with undivided share in land to the extent of 35 Sq.yards belonging to Mr.Pallela Venkata Subhash Reddy
Andhra Pradesh Yes WC & TL Flat No.C-311, Golden Home, Opp: Jute Mill, Near Swami Theatre, Krishna Nagar, Guntur – 522004.
Corporate / Personal Guarantee
Personal Guarantee : Mr. Pallela Venkata Subhas Reddy (Managing Director) 2. Mrs. Pallela Kanakalakshmi (Director) Corporate Guarantee : Nil
Asset Classification Wilful Defaulters (RBI) No NPA since Clarity of Title deeds Transferability of the land, plant & machinery and other assets Promoters reputation and standing in society and business circles Property(ies) available as security Average
Counter Claim Comments on Counter Claim: N.A MOE & Orig. Title Deed Fraud / CBI Form 8 / Form 13(Mortgage) in OA / Decree 13(2) / 13(4) issued SARFAESI Any Stay Attachmnt. Encumb. Custody (B/L/OL/DR)
Value
Residential flat at Guntur Plant & machinery at above 0 II Debt Profile Lenders -
26.90 230.17
Principal
Interest / Other charges 25
Total
% share in Principal 360 360 100% 0% 0% 0% 0% 0% 100%
% share - for Valuation (Claim basis)
Term Loan (TL) 276
Working Capital (WC) 59
% share in TL
Rs in Lacs % share in WC
Karnataka Bank Ltd.
Total-Debt
335 335
100% 0% 0% 0% 0% 0% 100% 82%
25
0%
276
59
100% 0% 0% 0% 0% 0% 100% 18% -
Note: Principal and interest outstanding as per bank. Comments on Claim basis: Karnataka Bank Ltd. is the sole lender
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Karnataka Bank Summary Sheet III Security Details Arcil Real Estate Valuation by:
04-Jan-13 Pallela Jumbo Rocks (P) Ltd. Rs in Lacs Valuation as per Selling Bank FMV as per Arcil Valuer (All lenders) c Addtl Distress Value Banks Share NET Distress Discount (%) as per Arcil in Distress Security Value Financial Valuer Security Valuer Value % Exclusive 26.90 26.90 230.17 15% 25% 0% 257.07 25% 0% 22.80 115.09 137.88 100% 100% 100% 22.80 Exclusive 230.17 0 115.09 137.88 230.17 257.07 26.90 Charge Status FMV (Selling Bank share in security value)
Fixed Assets: Residential flat at Guntur N1 Plant & machinery at above N2 N3 Total - Fixed Assets Current Assets: Raw Material WIP Finished goods Total - Current Assets Total Assets Agricultural Property Total Assets (incdg Agri property) N4 Statutory Dues Total Assets after statutory dues (incdg Agri property) 257.07 257.07 137.88 Input only in shaded /yellow coloured fields please 257.07
257.07 -
257.07 -
0% 0% 0%
0% 0% 0%
137.88
0% 0% 0%
137.88
257.07 -
0%
-
100%
-
257.07
257.07 0%
137.88 100%
137.88 -
257.07 -
137.88 137.88 Alternate valuation 13.79 124.10 1 25% 99.28 9.93 89.35 0 89.35
257.07
Assets Value ( other than agriculture property) Less: Statutory dues Less: Resolution cost Net value of the assets after adj. for Resolution Cost & Stat. Dues Resolution time period Discounting factor Financial Valuer-NPV of the assets after discount Debt Aggregation Discount Arcil Adjustment Net Value (All assets except Agricultural property) Net Value (Only Agricultural property) Additional Value (Personal Guarantee/Networth) Final Arcil Value (other than OTS) Remarks on Security Valuation Note-1 Note -2 Note -3 Note -4 Resolution Time Period
10%
The case should take 1 year to resolve as the auction date has also been finalised in 1st half of 2013
Real Estate - Rate & Area Details ( Pls take it from Arcil Real estate Valuation report) 100,000 Particulars Residential flat at Guntur Plant & machinery at above Total 257.07 Area 1,150.0 Unit/area sq.ft Rate/unit 2,339 Value of Property Remarks (if any)
26.90 Valued by Venkal CH.K dt. 06.10.12 230.17 Valued by V. Radha Krishna dt. 15.09.12
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Karnataka Bank Summary Sheet
04-Jan-13 Pallela Jumbo Rocks (P) Ltd.
IV One Time Settlement (OTS) (Please provide source of funds for settlement)
buyer did offer OTS but no clear timeline was given
V Remarks on Due Diligence SSA -Remarks on Fin DD
SSA -Remarks on LDD (BIFR & General matters)
No
SSA -Remarks on LDD (DRT)
S.A No: …… /2012 (Yet to be numbered) Current Status in S.A: Counter filed by us and case is posted to 11.03.2013 for hearing. Is there currently any Stay by DRT: No
SSA -Remarks on LDD (SARFAESI)
Date of 13 (2) Notice – 01.02.2012 Amount of dues mentioned in Demand Notice- Rs 3,13,29,992.00 Date of Possession Notice – 09.05.2012 Details of Possession Taken (Symbolic/Physical) – Symbolic possession of the property was taken on 09.05.2012 Physical possession of the plant & machineries were taken on 10.09.2012. Date of Sale Notice (If Any) – 04.02.2013 & 05.02.2013. (Proposed public Auction dates) Reserve Price – 1. Rs 175.00 lakh (stone crushing unit) 2. Rs 23.00 lakh (Residential flat) Date and Outcome of Auction (If Any) – Yet to be held.
SSA -Remarks on LDD (Default No of Public Fixed Deposit)
SSA -Remarks on Real Estate Reports
VII Executive Summary M/s. Pallela Jumbo Rocks (P) Ltd is a private limited company, running stone crushing unit. The company was dealing with the Bank since 2007 and availed the captioned facilities for setting up of Crusher unit, purchase of HP Cone Crusher and accessories, Dumper & Excavator. The company purchased all the machineries and installed, commissioned the same. After installation company had made a trial production in the month of April 2010. For supply of the raw material from the quarry to the production unit, the company had entered into agreement with a third party for a period of 6 years for which an advance of Rs 1.00 Page 2 of 5 Special Situation Advisors (India) Pvt. Ltd. Crore. The supplier has breached the contract and not supplied the raw materials. The same hampered the entire production. The company requested the Bank for rephasement of the TL facility. Accordingly facilities were rephased but interest and installments were not paid as per schedule. As a result, the accounts were classified as NPA on 28.09.2011. However, it was subsequently treated as NPA as on 30.12.2010 during the inspection process.
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doc_622303972.xls