Atul Ltd 2016-17

181 ( ` cr) Note 17 Borrowings Maturity Terms of repayment Effective interest rate p.a. As at March 31, 2017 As at March 31, 2016 As at April 01, 2015 Current Non- current Current Non- current Current Non- current a) Secured i) Rupee term loan from a foreign financial institution (refer Note a) January, 2018 15 equal half yearly installments 6.99% - 7.46% – 10.42 – 20.83 – 31.25 ii) Foreign currency term loans from banks (refer Note b and c) September, 2017 12 equal quarterly installments 3 months LIBOR + 2.90% – 10.81 – 33.17 – 52.16 April, 2016 16 equal quarterly installments 3 months LIBOR + 2.25% – – – 2.07 – 9.78 iii) Foreign currency term loans from a foreign financial institution (refer Note d) January, 2016 16 equal quarterly installments 6 months LIBOR + 2.25% – – – – – 23.47 iv) Working capital loans from banks (refer Note f) 1-12 months Repayable on demand 2.43% - 11.00% 13.43 79.51 51.99 v) Rupee term loans from bank (refer Note e) June, 2018 60 equal monthly installments Base rate + 2.50% – 1.87 3.38 – 4.87 b) Unsecured i) Rupee term loans from a bank (March 31, 2016: ` 30,112) May, 2016 20 equal quarterly installments Base rate + 1.50% – – – – – 0.14 ii) Loan from banks including foreign banks 1-6 months 1-6 months 1.00% - 5.00% 52.95 54.24 16.20 iii) Loan from Related Parties 1-6 months 1-6 months 9.25% 4.25 17.50 9.00 c) Buyers' credit – 6.91 – d) Commercial papers 1-3 months 1-3 months 6.50% 73.95 98.20 97.73 e) Deposit from the Directors 1-12 months 1-12 months 9.00% 0.01 0.01 0.01 144.59 23.10 256.37 59.45 174.93 121.67 Amount of current maturities of long-term debt disclosed under the head 'Other financial liabilities' (refer Note 18) (22.72) (36.10) (64.21) 144.59 0.38 256.37 23.35 174.93 57.46 a) Rupee term loan from a foreign financial institution is secured by first pari passu charge by way of hypothecation of all movable property, plant and equipment and mortgage of immovable properties of the Group, present and future, excluding specific assets with first pari-passu charge with other lenders and second charge on entire current assets of the Group, both present and future. b) Foreign currency term loan from a foreign bank is secured by first pari passu charge by way of hypothecation of all movable property, plant and equipment and mortgage of immovable properties of the Group, present and future, excluding specific assets with first pari passu charge and second charge on entire current assets of the Group, both present and future. c) Foreign currency term loan from a bank is secured by first pari passu charge on the entire movable and immovable property, plant and equipment of the Group, both present and future. d) Foreign currency term loan from a foreign bank is secured by first pari passu charge by way of hypothecation of all movable property, plant and equipment and mortgage of immovable properties of the Group, present and future, excluding specific assets with first pari-passu charge with other lenders charge and second charge on entire current assets of the Group, both present and future. e) Rupee term loan from bank is secured by exclusive charge on the fixed assets of the Company as a whole, both present and future. f) Security details: Working capital loans repayable on demand from banks is secured by hypothecation of tangible current assets, namely, inventories and book debts of the Group as a whole and also secured by second and subservient charge on immovable and movable assets of the Group to the extent of individual bank limit as mentioned in joint consortium documents. This also extends to guarantees and letter of credits given by the bankers aggregating ` 82.47 cr (March 31, 2016: ` 65.03 cr, April 01, 2015: ` 70.66 cr). Notes to the Consolidated Financial Statements