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Hindustan Dorr-Oliver Ltd.

BSE: 509627 Sector: Engineering
NSE: HINDDORROL ISIN Code: INE551A01022
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NSE 15:19 | 18 Sep Stock Is Not Traded.
OPEN 2.28
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VOLUME 1
52-Week high 18.05
52-Week low 1.52
P/E
Mkt Cap.(Rs cr) 16
Buy Price 2.28
Buy Qty 269498.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.28
CLOSE 1.90
VOLUME 1
52-Week high 18.05
52-Week low 1.52
P/E
Mkt Cap.(Rs cr) 16
Buy Price 2.28
Buy Qty 269498.00
Sell Price 0.00
Sell Qty 0.00

Hindustan Dorr-Oliver Ltd. (HINDDORROL) - Auditors Report

Company auditors report

To the Members of

HINDUSTAN DORR-OLIVER LIMITED

1. Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of HINDUSTANDORR-OLIVER LIMITED ("the Company") which comprises the Balance Sheet as atMarch 31 2016 the Statement of Profit and Loss and Cash Flow Statement for the year thenended and a summary of significant accounting policies and other explanatory informationfor the year then ended.

2. Management’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparationand presentation of these standalone financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the standalone financial statements that give a true andfair view and are free from material misstatement whether due to fraud or error.

3. Auditors’ Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe standalone financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the standalone financial statements that give a true and fair view in orderto design audit procedures that are appropriate in the circumstances. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company’s Directors as wellas evaluating the overall presentation of the standalone financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our qualified audit opinion on the standalone financial statements.

4. Basis for Qualified Opinion

We refer to:

a) Note 31 to the standalone financial statements in respect of preparation offinancial statements of the Company on going concern basis for the reasons stated therein.The accumulated losses of the Company as at March 31 2016 amounting to RS 11043.23million have exceeded its net worth. Further the Company’s current liabilitiesexceed current assets by RS 12147.27 million. The Company has obligations towardsborrowings aggregating to RS 9704.37 million which include working capital loan andoutstanding letters of credit/bill discounting from banks.

The Company has obligations pertaining to operations including unpaid creditors andstatutory dues these matters require the Company to generate additional cash flows tofund the operations as well as other statutory obligations notwithstanding the currentlevel of low operating activities. This indicates the existence of a material uncertaintythat may cast significant doubt on the Company’s ability to continue as going concernand therefore the Company may be unable to realize its assets and discharge itsliabilities in the normal course of business. The standalone financial statement does notinclude any adjustment in this respect.

b) Note 36 to the standalone financial statements in connection with the existence ofmaterial uncertainties over the realisability of bank guarantees encashed by customersunbilled revenue trade receivables and withheld amount aggregating to RS 538.60 millionwhich are subject matters of various negotiations with the customers. Further BankGuarantee of RS 526.70 million was encashed subsequent to this year end. The management ofthe Company is confident of positive outcome of the negotiations and recovering theaforesaid dues. In view of pending-certification of bills/slow progress/termination ofthese projects and lack of other alternate audit evidence to corroborate management’sassessment of recoverability of these balances we are unable to comment on the extent towhich these balances are recoverable.

c) Note 37 to the standalone financial statements in respect of invocation of corporateguarantees of RS 1411.80 million and initiation of recovery actions against the companyin respect of such guarantees extended / executed for its one subsidiary in favour of thelenders. No provision has been made in the accounts for such possible loss.

d) Note 32 to the standalone financial statements regarding investments and advances inits Indian subsidiary having book value aggregating to RS 1538 million and RS 50 millionrespectively as at March 31 2016 which were carried at fair value. In absence ofvaluation of investments in the subsidiary we are unable to comment whether any provisionfor diminution/bad debts in the value of investment/advances is required.

e) Note 39 and 40 to the standalone financial Statements in respect of certain projectswherein the Management of the Company has considered overdue trade receivables aggregatingto RS 576.14 million and unbilled revenue amounting to RS 867.27 million as good andfully recoverable and no provisions for the same have been made for the reasons statedtherein.

f) Note 38 to the standalone financial statements wherein one lender has initiatedrecovery proceedings against the Company under the Securitization and Reconstruction ofFinancial Assets and Enforcement of Security Interest Act 2002 in respect of outstandingloan aggregating to RS 5961.16 million (including interest on WCTL and FITL of RS 177.92million). The Bank has however demanded RS 6545 million. The difference being penal andother charges the company has not provided for the same for the reason stated therein.

g) Note 34 to the standalone financial statements in respect of trade receivablesmobilization advances retention money trade payables and certain bank balances externalconfirmations of the balances are not available. Due to non-availability of confirmationof balances we are unable to quantify the impact if any arising from the confirmationof balances.

h) Note 35 to the standalone financial statements wherein the Company has not receivedconfirmation from one of the lender having outstanding of RS 1520.10 million (includinginterest accrued of RS 276.36 million) as at March 31 2016. Due to non-availability ofconfirmation of balances we are unable to quantify the impact if any arising from theconfirmation of balances.

5. Qualified Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us except for the effects of the matters described under paragraph 4(b) and 4(e)and possible effects of the matters described under paragraph 4(a) 4(c) 4(d) 4(f) 4(g)and 4(h) of the basis for qualified opinion paragraph of the aforesaid Standalonefinancial statements give the information required by the Act in the manner so requiredand give a true and fair view in conformity with the accounting principles generallyaccepted in India of the state of affairs of the Company as at March 31 2016 and itslosses and its cash flows for the year ended on that date.

6. Emphasis of matters

Attention is invited to note 42 of the standalone financial statements in respect ofpending winding up petitions against the company and the matter is subjudice.

Our opinion is not qualified in respect of this matter.

7. Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2016 ("theOrder") as amended issued by the Central Government of India in terms ofsub-section (11) of section 143 (ii) of the Act we give in the "Annexure A" astatement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by section 143 (3) of the Act we report that: a) we have sought andexcept for the matters described under "Basis for qualified opinion" paragraphhave obtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purposes of our audit; b) Except for the effects/possibleeffects of matters described in the "Basis for qualified opinion" paragraph inour opinion proper books of account as required by law have been kept by the Company sofar as it appears from our examination of those books. c) The Balance Sheet the Statementof Profit and Loss and the Cash Flow Statement dealt with by this Report are in agreementwith the books of account. d) In our opinion except for the effects/possible effectsmatters described in the "Basis for qualified opinion" paragraph the aforesaidStandalone financial statements comply with the Accounting Standards specified undersection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.

e) The matters described in the basis for qualified opinion and Emphasis of mattersparagraph in our opinion may have an adverse effect on the functioning of the Company;

f) On the basis of the written representations received from the directors as on March31 2016 and taken on record by the Board of Directors none of the directors isdisqualified as on March 31 2016 from being appointed as a director in terms of Section164 (2) of the Act.

g) The qualifications relating to the maintenance of accounts and other mattersconnected there with are as stated in the Basis for Qualified Opinion paragraph.

h) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in "Annexure B". Our report expresses a qualified opinion on theadequacy and effectiveness of the Company’s Internal Financial Controls overFinancial Reporting.

i) With respect to the other matters to be included in the Auditor’s Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financialposition in its standalone financial statements – Refer Note 30 to the standalonefinancial statements;

ii. Except for the effects/possible effects of matters described under basis ofqualified opinion paragraph the Company has made provision as required under theapplicable law or accounting standards for material foreseeable losses if any onlong-term contracts including derivative contracts.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For CHATURVEDI & PARTNERS
Chartered Accountants
Firm Registration No. 307068E
RAVINDRA NATH CHATURVEDI
Hyderabad Partner
May 30 2016 Membership No. 092087

"Annexure A" to the Independent Auditors’ Report

Referred to in paragraph 1 under the heading ‘Report on Other Legal and RegulatoryRequirement’ of our report of even date to the standalone financial statements of theCompany for the year ended March 31 2016:

i (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets except description and current locationof assets.

(b) Fixed assets were not physically verified by the management during the year. Hencewe are unable to comment whether there are any material discrepancies and any adjustmentis required in the books of account.

(c) The title deeds of immovable properties are held in the name of the company.According to the information and explanations given to us the original title deeds areheld by the lenders.

ii The Company did not have any inventory as at the year end.According to theinformation and explanations given to us the management has conducted physicalverification of inventory at reasonable intervals.

iii The Company had in earlier year granted interest free unsecured loans and advancesof RS 1472.37 million to two of its wholly own subsidiary companies.

(a) In our opinion the terms and conditions of the loans granted by the company havingregard to the cost of funds to the company are prejudicial to the interest of the company.

(b) The schedule of the repayment of the principal has not been stipulated; hence weare unable to comment as to whether repayments are regular.

(c) As the schedule of repayment has not been stipulated and considering the provisionfor such loans we are unable to comment whether any amount is overdue and whetherreasonable steps have been taken by the company for recovery of the principal.

iv In our opinion and according to the information and explanation given to us theCompany has not given loans investment guarantees and security during the year withinSection 185 and 186 of the Companies Act 2013. Accordingly the clause (iv) of paragraph3 of the Order is not applicable to the Company.

v According to the information and explanations given to us the Company has notaccepted any deposits within the meaning of Sections 73 to 76 of the Companies Act 2013and the rules framed there under to the extent notified.

vi We have broadly reviewed the cost records maintained by the Company pursuant to theRules made by the Central Government under sub-section (1) of Section 148 of the CompaniesAct 2013 and are of the opinion that prima facie the prescribed accounts and recordshave been made and maintained. We have however not made a detailed examination of theserecords with a view to determining whether they are accurate or complete.

vii (a) According to information and explanations given to us and records of theCompany examined by us the Company has not been depositing undisputed statutory dues inrespect of provident fund income tax sales tax service tax duty of customs duty ofexcise value added tax cess and any other statutory dues with the appropriateauthorities.

There have been significant delays in a large number of cases in depositing these dueswith the appropriate authorities. Further there were no undisputed amounts payable inrespect of wealth tax custom duty and excise duty except in respect of effect of pendingreconciliation of service tax pending from previous years the effect of which cannot beascertained and income tax sales tax and other statutary dues which are in arrears as atMarch 31 2016 for a period of more than six months from the date on when they becamepayable. The details of such arrears are given in Appendix -I to this report.

(b) According to the information and explanations given to us and records of theCompany examined by us particulars of dues outstanding in respect of income tax salestax service tax duty of customsduty of excise and value added tax which have not beendeposited on account of any dispute are given in Appendix-II to this report.

viii According to the information and explanations given to us there are no loans orborrowings payable to the Government Financial Institution and Debenture holders. TheCompany has defaulted in repayment of loans or borrowing from banks. The details of suchdefaults are given in Appendix-III.

ix According to the information and explanations given to us the company has notraised moneys by way of initial public offer or further public offer (including debtinstruments) and term loans during the year. Accordingly the provisions of clause 3 (ix)of the Order are not applicable to the company.

x According to the information and explanations given to us no fraud by the Company oron the Company by its officers or employees have been noticed or reported during the year;

xi According to the information and explanations given to us and based on the auditprocedures conducted by us Managerial Remuneration has been provided in accordance withthe requisite approval Mandated by the provisions of Section 197 read with Schedule V tothe Companies Act.

xii In our opinion and according to the information and explanation given to us theCompany is not a Nidhi Company.

Therefore the provisions of Para 3 (xii) of the Order are not applicable to theCompany.

xiii In our opinion and according to the information and explanations given to us alltransactions with the related parties are in compliance with section 177 and 188 ofCompanies Act 2013 where applicable and the details have been disclosed in thestandalone Financial Statements as required by the applicable accounting standards.

xiv According to the information and explanations given to us the company has not madeany preferential allotment or private placement of shares or fully or partly convertibledebentures during the year. Accordingly the provisions of clause 3 (xiv) of the Order arenot applicable to the company.

xv According to the information and explanations given to us the company has notentered into any non-cash transactions with directors or persons connected with them.Theprovisions of clause 3 (xv) of the Order are not applicable to the company.

xvi In our opinion the Company is not required to be registered under section 45 IA ofthe Reserve Bank of India Act 1934.

For CHATURVEDI & PARTNERS
Chartered Accountants
Firm Registration No. 307068E
RAVINDRA NATH CHATURVEDI
Hyderabad Partner
May 30 2016 Membership No. 092087

ANNEXURE "B" TO THE INDEPENDENT AUDITORS' REPORT OF EVEN DATE ON THESTANDALONE FINANCIAL STATEMENTS OF HINDUSTAN DORR-OLIVER LIMITED

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of HINDUSTANDORR-OLIVER LIMITED ("the Company") as of March 31 2016 in conjunction with ouraudit of the standalone financial statements of the Company for the year ended on thatdate.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls Over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company’s policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company’s internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing to the extent applicable toan audit of internal financial controls both issued by the Institute of CharteredAccountants of India. Those Standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness.

Our audit of internal financial controls over financial reporting included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor’s judgment including the assessment of the risks of materialmisstatement of the standalone financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our qualified opinion on the Internal Financial Control over FinancialReporting of the Company.

Meaning of Internal Financial Controls Over Financial Reporting

A company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany’s assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Basis for Qualified Opinion

In our opinion and according to the information and explanations given to us and basedon our audit the following material weaknesses have been identified as at March 31 2016:

The Company did not have appropriate internal financial controls over (a) Assessment ofrecoverability of bank guarantees encashed by customers unbilled revenue tradereceivables and withheld amounts which are subject matters of various disputes /negotiations with the customers and contractors due to delay in completion of contractsand other disputes. (b) Assessment of provision required in respect of invocation ofcorporate guarantees and initiation of recovery actions against the Company in respect ofsuch guarantees extended / executed for its subsidiary in favour of the lenders. (c)Assessment of "other than temporary diminution" of long term equity investmentin subsidary company whose net worth has eroded and continues to incur losses as on March31 2016. (d) Control over reconciliation of subcontractors work bills with the work billssubmitted to the clients and physical progress of works completed which could potentiallyresult into inaccurate estimation of percentage of work completed and consequently delayin the realization of unbilled revenue/ receivables. (e) Controls over projects costsestimation and review of balance costs to complete in respect of work projects whichcould potentially result into inaccurate estimation of foreseeable losses on workscontracts. (f)Process of obtaining confirmations from trade receivables advancesretention money trade payables and bank balances at regular interval. (g) Physicalverification of fixed assets at regular interval.

The inadequate supervisory and review control over Company’s process in respect ofits aforesaid assessment in accordance with the accounting principles generally acceptedin India could potentially result in a material misstatement in preparation andpresentation of financial statement including the profit after tax.

A ‘material weakness’ is a deficiency or a combination of deficiencies ininternal financial control over financial reporting such that there is a reasonablepossibility that a material misstatement of the company’s annual or interim financialstatements will not be prevented or detected on a timely basis.

Qualified opinion

In our opinion except for the effects of material weaknesses described in "basisof qualified opinion" paragraph above the Company has in all material respects anadequate internal financial controls system over financial reporting and such internalfinancial controls over financial reporting were operating effectively as at March 312016 based on the internal control over financial reporting criteria established by theCompany considering the essential components of internal control stated in the GuidanceNote on Audit of Internal Financial Controls Over Financial Reporting issued by theInstitute of Chartered Accountants of India.

We have considered the material weaknesses identified and reported above in determiningthe nature timing and extent of audit tests applied in our audit of the March 31 2016standalone financial statements of the Company and these material weaknesses haveaffected our opinion on the standalone financial statements of the Company we have issueda qualified opinion on the standalone financial statements.

For CHATURVEDI & PARTNERS
Chartered Accountants
Firm Registration No. 307068E
RAVINDRA NATH CHATURVEDI
Hyderabad Partner
May 30 2016 Membership No. 092087

Appendix-I as referred to in Para vii(a) of the Annexure -A to the IndependentAuditors’ Report

( RS in million)

Statute Nature Amount Period to which amount relates Due Date Date of Payment
Professional Tax Act 1975 Professional Tax 0.03 Upto 2014-2015 30th of next month Not Paid
0.34 April 2015 to August 2015 30th of next month Not Paid
Income Tax Act 1961 Tax Deducted at Sources 5.52 2013-2014 7th of next month except for March-May 30 Not Paid
34.26 2014-2015 7th of next month except for March-May 30 Not Paid
15.03 April 2015 to August 2015 7th of next month Not Paid
Income Tax Act 1961 Tax Collected at Sources 0.17 2014-2015 7th of next Month Not Paid
Employees’ Provident Funds & Miscellaneous Act 1952 Provident Fund 4.89 April 2015 to August 2015 15th of next month Not Paid
Sales Tax/ VAT Act of various Works Contract Tax 26.38 2013-2014 21st of next month Not Paid
States and The Central Sales 16.89 2014-2015 21st of next month Not Paid
Tax Act 1956 1.72 April 2015 to June 2015 21st of next month Not Paid
0.17 August 2015 September 21 2015 Not Paid
Sales Tax/VAT 50.01 2013-2014 21st of next month Not Paid
24.92 2014-2015 21st of next month Not Paid
0.06 June 2015 July 21 2015 Not Paid
The Finance Act 1994 Service Tax 18.65 2014-2015 6th of next month Not Paid
17.33 April 2015 to August 2015 6th of next month Not Paid

Appendix-II as referred to in para vii (b) of the Annexure-A to the IndependentAuditors’ Report

(RS in million)

Name of the Statute Nature of Dues Amount Period to which the amount relates Forum where dispute is pending
1 Income Tax Act 1961 Income Tax 16.70 AY1997-1998 to 1999-2000 and 2001-2002 ITAT
Income Tax 24.65 AY2008-2009 and 2012-2013 CIT (A)
2 Central Sales Tax Act 1956 Value Added Tax and Sales Tax Act of Various States. Sales Tax/ WCT/ VAT 4.49 1999-2000 to 2000-2001 and 2002-2003 A. C. (Appeal)
91.85 2008-2009 and 2011-2012 CTO Agipura Circle
70.50 2011-2012 and 2013-2014 CTO Bellary
3.57 2009-2010 CTO Jaipur
42.60 2011-2012 ADD’L. CTO
95.40 1984-19851992-1993 D. C. (Appeal)
1994-1995 1997-1998 to
1998-1999 2002-2003
2006-20072007-2008
2009-2010 to 2011-2012
12.48 1988-1989 and 1995-1996 High Court
312.39 2002-2003 to 2006-2007 and 2008-2009 to 2009-2010 J.C.(Appeal)
0.23 1992-1993 S. T. O.
1.83 1987-1988 to 1990-1991
1993-1994 1995-1996. Tribunal
126.53 2009-2010 to 2010-2011 Appeal Yet to be filed
3 The Finance Act 1994 Service Tax 165.20 2007-2008 to 2011-2012 CESTAT
Service Tax 48.40 2012-2013 and 2013-2014 CCE (A)
4 Custom Act 1962 Custom Duty 0.08 1992-1993 The collector of customs (Judicial) Mumbai

Appendix-III as referred to in para viii of Annexure -A to the IndependentAuditor’s Report

(RS in million)

Particulars Amount of Default Period of Default (in days) As at March 31 2016
Repayment of Term Loans
Standard Chartered Bank 82.92–912.08 989-75 912.08
Bank of India 23.28 -1505.44 549-43 1505.44
Bank of India 6.99–66.77 549-43 66.77
Andhra Bank 5.84-29.19 276-1 29.19
Interest on Term Loans
Standard Chartered Bank 29.35–276.36 989-75 276.36
Bank of India 14.41 -300.25 610-1 300.25
Bank of India 0.56–11.74 549-1 11.74
Andhra Bank 2.33 – 25.12 276-1 25.12
Working Capital Loan – Cash Credit
ICICI Bank 3.51 - 8.45 56-1 8.13
Bank of India 4.23 – 2353.17 589-43
Andhra Bank 0.41-1671.59 288-1 1617.59
Default from the demand notice
Bank of India 3393.14-3418.69 43-1 3418.69
Interest on Working Capital Loan – NPA
Bank of India 24.77 –658.26 488-1 658.26