Page 252 - Arvind 2024

Notes to Consolidated Financial Statements for the year ended 31st March, 2024 (Amount in Rs. Lac, unless stated otherwise)
4 a. b.
c.
3% redeemable unsecured optionally convertible debentures - Nil ( March 31, 2023 : 5000 ) having face value of Rs. Nil (March 31, 2023 : Rs. 76,062 ) each amounting to Rs. Nil Lac (March 31, 2023 :Rs. 3803.1Lac).
9% redeemable optionally convertible debentures - Nil ( March 31, 2023 : 4200) having face value of Rs. 1,00,000 (March 31, 2023 : Rs. 1,00,000) each .These debentures are secured by First Ranking exclusive charge against land , Inventory and receivables of Arvind Fruits of Life project in Arvind Smarthomes Private Limited.
3% redeemable optionally convertible debentures - 4000 ( March 31, 2023 : 1000) having face value of Rs. 1,00,000 (March 31, 2023 : Rs. 1,00,000 ) each. These debentures are secured by First Ranking exclusive charge against land , Inventory and receivables of Arvind Orchards project in Arvind Smarthomes Private Limited.
Terms of Repayment of Loans Secured Loan
ICICI Bank Limited
Vehicle Loan
HDFC Bank Limited and ICICI Bank Limited
Term Loan
ICICI Bank Limited
TATA capital financial services limited
Debentures
3% redeemable unsecured optionally convertible debentures:
Group has availed Rs.1,500 Lac ( March 31,2023 : Rs.1,500 Lac) overdraft facility with a tenure of 32 months (including moratorium of 8 months ending on May 2023).
Loan is repayable in monthly instalments on varied dates as mentioned above.
Group has borrowed Rs.NIL ( March 31,2023 : Rs.8,500 Lac) with a tenure of 32 months (including moratorium of 8 months ending on May 2023). The said loan is repaid fully in FY 2023-24.
Loan of Rs.6,000 Lac (March 31, 2023 : Rs.1,000 Lac) at the rate of 10.3% p.a. with a tenure of 12 structured quarterly payment (including moratorium of 15 months) starting from December, 2022.
One of the Subsidiary Company, Arvind homes Private Limited has issued Optionally Convertible Redeemable Debentures (“OCRD”) having a coupon rate @ 3% p.a. The Term of the Debentures shall be 15 (Fifteen) years from the date of allotment of first tranche of Debenture unless redeemed or converted earlier. At the option of debenture holder, these OCRD are convertible into equity shares at a ratio which is mutually agreed upon between the Debenture holders and the Company at any time on or before 15 years after obtaining prior written approval of all the holders of Debentures and all the Shareholders. The resulting shares upon conversion shall rank pari-passu in all respect with the existing equity shares issued by Subsidiary Company.
250 | Arvind SmartSpaces Limited