File_2012_Document1

128 Jindal Steel & Power Limited Business Leadership Sustainable Operations Excellent Governance Robust FinancialsStandaloneAnnual Report 2011-12129NOTES to the financial statements as at and for the year ended 31st March, 2012 NOTES to the financial statements as at and for the year ended 31st March, 2012DEBENTURESi) Debentures placed with SBI Life Insurance CompanyLimited on private placement basis are redeemable atpar in 5 equal annual instalments commencing from theend of 8 years from the date of allotment i.e. 29.12.2009.The debentures are secured on pari passu basis by wayof mortgage of immovable properties and hypothecationof movable assets created/to be created on the 6x135MW Power Plant Project at Angul, Odisha in favour of theDebenture Trustees.ii)iii)iv)Debentures placed with Life Insurance Corporation of Indiaon private placement basis are redeemable at par in 2 equalannual instalments at the end of 9.5 and 10.5 years from thedate of respective allotments i.e. ` 100 crore (12.10.2009),` 150 crore (22.10.2009), ` 150 crore (24.11.2009), ` 150crore (24.12.2009), ` 150 crore (25.01.2010), ` 150 crore(19.02.2010) and ` 150 crore (26.03.2010). The debenturesare secured on pari-passu charge basis by way of mortgageof immovable properties and hypothecation of movablefixed assets created/to be created on the 6x135 MW PowerPlant Project at Angul, Odisha in favour of the DebentureTrustees.Debentures placed with Life Insurance Corporation of Indiaon private placement basis are redeemable at par in 2 equalannual instalments at the end of 9.5 and 10.5 years from thedate of respective allotments i.e. ` 100 crore (24.08.2009),` 80 crore (08.09.2009), ` 80 crore (08.10.2009), ` 80crore (09.11.2009), ` 80 crore (08.12.2009) and ` 80 crore(08.01.2010). The debentures are secured on pari-passucharge basis by way of mortgage of immovable propertiesand hypothecation of movable fixed assets of the Companyin favour of the Debenture Trustees.Debentures placed with ICICI Lombard General InsuranceCompany Limited on private placement basis areredeemable at par at the end of 5 years from the dateof allotment i.e. 03.12.2009. The debentures are securedon pari-passu basis by way of mortgage of immovableproperties and hypothecation of movable fixed assets ofthe Company in favour of the Debenture Trustees.v) Debentures placed with ICICI Prudential Life InsuranceCompany Limited on private placement basis areredeemable at par at the end of 5 years from the dateof allotment i.e. 03.12.2009. The debentures are securedon pari-passu basis by way of mortgage of immovableproperties and hypothecation of movable fixed assets ofthe Company in favour of the Debenture Trustees.vi) Debentures placed with LIC Mutual Fund AssetManagement Company Limited on private placementbasis are redeemable at par at the end of 23 months fromvii)the date of allotment i.e. 22.01.2010. The debenturesare secured on pari-passu basis by way of mortgage ofimmovable properties and hypothecation of movablefixed assets of the Company in favour of the DebentureTrustees.Debentures placed with United India Insurance CompanyLimited on private placement basis are redeemable atpar at the end of 23 months from the date of allotmenti.e. 22.01.2010. The debentures are secured on pari-passubasis by way of mortgage of immovable properties andhypothecation of movable fixed assets of the Company infavour of the Debenture Trustees.TERM LOANSSecurityi) Loans of ` 176.54 crore (Previous year ` 255.11 crore) aresecured by exclusive charge on fixed assets created underSteel expansion project at Raigarh, Chhattisgarh;ii)iii)iv)Loans of ` 150.40 crore (Previous year ` 196.87 crore) aresecured by exclusive charge on fixed assets created underPlate Mill project at Raigarh, Chhattisgarh;Loans of ` 77.14 crore (Previous year ` 111.43 crore) aresecured by exclusive charge on fixed assets created under3x25 MW Power Plant at Raigarh, Chhattisgarh;Loans of ` NIL crore (Previous year ` 454.99 crore) aresecured by exclusive charge on fixed assets created/to becreated under the DRI project at Angul, Odisha;v) Loans of ` 698.47 crore (Previous year ` 788.97 crore)are secured by exclusive charge on fixed assets createdunder 2X135 MW Power Plant (Phase - 1) at Dongamauha,Raigarh, Chhattisgarh;vi)vii)Loans of ` 450.00 crore (Previous year ` 140.55 crore)are secured by exclusive charge on fixed assets created/to be created under 2X135 MW Power Plant (Phase - 2) atDongamauha, Raigarh, Chhattisgarh;Loans of ` 1,841.10 crore (Previous year ` 1,054.97 crore)are secured by exclusive charge on fixed assets created/to be created under 1.6 MTPA Integrated Steel Plant and1.5 MTPA Plate Mill project at Angul, Odisha;viii) Loans of ` 1,370.00 crore (Previous year ` 100.00) aresecured/to be secured by exclusive charge on fixed assetscreated/to be created under 6x135 MW Power PlantProject at Angul, Odisha;ix)Loan of ` 250.00 crore (Previous year ` 244.25 crore) aresecured by subservient charge on current assets of theCompany;5 LONG-TERM BORROWINGS (Contd.)Repayments and Interest rates for the above Term Loans are as follows:Year 2012-2013 2013-2014 2014-2015 2015-2016 & AboveAmount (in ` Crore) 316.97 619.92 667.20 3409.57The interest rate for the above term loans varies from 8.41% to 13.75% p.ab) Unsecured Long term borrowingsi) Term Loansii)Non-Current PortionCurrent Portion(` in Crore)31st March, 2012 31st March, 2011 31st March, 2012 31st March, 2011Other Loans 920.46 772.29 - -Fixed Deposits from public 6.08 37.94 31.14 21.73Other Loans & Advances926.54 810.23 31.14 21.73External Commercial Borrowings 1,166.92 1,882.50 993.75 205.321,166.92 1,882.50 993.75 205.32Unsecured Long-term borrowings 2,093.46 2,692.73 1,024.89 227.05Total Long-Term Borrowings 8,493.92 7,359.71 1,341.86 669.21Amount disclosed under othercurrentLiabilities [Note no.-10 (a)]- - (1,341.86) (669.21)Total Long-Term Borrowings 8,493.92 7,359.71 - -As at31st March, 2012(` in Crore)As at31st March, 20116 OTHER LONG-TERM LIABILITIESSecurity Deposits and Advances 141.24 140.63Total Other Long-Term Liabilities 141.24 140.63As at31st March, 2012(` in Crore)As at31st March, 20117 LONG-TERM PROVISIONSProvision for Employee benefitsGratuity 8.34 8.49Other defined benefit plans {Note no.-33(b)} 10.38 -Total Long-term Provisions 18.72 8.49