We are an infrastructure Company from Kolkata engaged in construction work in West Bengal,UP and Rajasthan.We have also bagged a housing construction project in Sri Lanka and is also in advanced stage of negotiation at Angola. We have overseas offices at Singapore and UAE. We have been going through a liquidity mismatch and needs fund around INR 250.00crs by 15th December..
We have 2 real estate project in Kolkata and,one real estate project in Delhi in prime locations. Other real estate investors have approached us for selling the property but we will not have any benefit.
Security available:i) We are in the process of selling a steel Company and signed a MOU for INR 75.00crs.The payment would be available by March'13.Pledge of 100% share of the Company.
ii) Mortgage of land valued INR.75.00o in Madhya Pradesh now mortgaged to a NBFC.
iii) Pari Passu charge on Delhi property residual realisable value INR 125.00crs
iv) Mortgage of property at Park Street,Kolkata valued at INR100.00crs. But there is a payment of INR 25.00crs to be made and mortgage can be created after that.
There is total available security of INR 300.00crs as against loan of INR.175.00crs .INR 75.00crs would be paid out of sale proceeds.
Uses: Balance payment to property owners: INR.100.00crs.
Freeing the Madhya Pradesh land::INR 10.00crs
Regularisation of loan with Consortium members_Rs.140.00crs
Repayment: i) INR 75.00crs would be paid on Mar'13.out of sale proceeds of steel unit.
ii) There would be a cash accrual of Rs372.00crs from project-I in Kolkata .50% of cash accrual would be available by Dec'13. Inr Rs.75.00crs would be paid by Dec'13.
iii) The cash accrual from Project-II in Kolkata and Delhi project would be INR 600.00crs..30% of cash accrual would be available by June'14. INR75.00 crs would be paid on June'14.
iv) The rest Rs.25.00crs+interest component would be paid on Dec'14.
Door-to-door tenure: 2 years.
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