UNSECURED LOANS Examples of some of the notes to accounts relating to "Unsecured Loans" are given below : From Banks & Other Loans ======================== 1. Unsecured loans includes a sum of Rs. _____________ Lakh interest free loan received from a director. 2. Other Loans and advances from others under unsecured loans include loans from Karnataka housing Boards of Rs. ____________ lacs which are guaranteed by a bank. 3. The Company has taken loan from Delhi Financial Corporation for purchase of flats, which has been shown under the head "Unsecured Loans", since the physical possession of the flats was taken in June, __________. The same will e shown under "Secured Loans" when the final document are executed. 4. The Company has taken loans from Company in which the following Directors are interested namely : (a) Shri ____________ (b) Shri ____________ (c) Shri ___________ the other loans are unconfirmed. 5. Unsecured loan from other than Banks include amount due for not more than one year Rs. _________ (Previous year Rs. _______) 6. Unsecured Loan from a Bank of Rs. ___________ Lacks is guaranteed by a Director of the Company. 7. A sum of Rs. ______ held nder "Unsecured Loans-Short Term-From Other", has been written back during the year tothe credit of the Profit and Loss Account, an is now included under "Claims against the Comapny not acknowledge as debts", as in the opinion of the managment no amount is payable against this claim. 8. Unsecured Loans of Rs. ____________ Lying to the credit of ABC limited (in liquidation) is not payable by the company but necessary adjustment for the same is pending as the matter is lying before the Delhi High Court. 9. The total term loans of Rs. ____________ lacs has been released by the financial instituions and Punjab National Bank. The additional term loans of Rs. ________ lacks has been sanctioned and the same have been released in the year _____ the working capital limits of Rs. _________ lacs has been sanctioned and released for working capital by Punjab National Bank which are inadequate for the company's working. The company has applied for increasing the same. 10. In addition to the term loan availed from the financial instituions, the company availed of a loan of Rs. _________ lacs from Banks for the acquisition of generating sets. Banks have as a consortium sanctioned cash credit limits and released funds for working capital requirements. 11. During the year unde report, the company negotiated a term loan for anamount of Rs. ____________ with banks for the company's Research and Development Project at Delhi by creating a first charge on the fixed assets of the Research and Development Project and a negative lien on other fixed assets at Delhi. 12. The company has laready received a bridging loan of Rs. _________ lacs from banks out of Rs. _________ lacs sanctioned. The term loan from financial institutions and banks is expected to be released very shortly. Working Capital =============== 1. During the year under review, your Company arranged for additional credit facilities from their Bankers in order to meet the increased working capital requirements. The stringent money market conditons now prevailing, in addition to the credit squeeze initiated. Fixed Deposits ============== 1. Fixed Deposits of Rs. _________ include Rs. _________ which were matured but not claimed. Out of these matured Deposits Rs. _________ have been since paid and depsoits of Rs. _________ have been since renewed. The company has yet to deposit of Rs. _________ have been since renewed. The company has yet to deposit or invest Rs. __________ being 10% of the amount of deposits maturing during the year ending on _____________ as per Rule 3A of the Companies (Acceptance of deposits) Rules, 1975. 2. At the end of the year under review, out of the deposits received by the company from the public and shareholders, a sum of Rs. ___________ lakhs has fallen due for repament but remained unclaimed by depositors. Since then, deposits of Rs. ___________ lakhs are renewed/ withdrawn and Rs. _________ lacks have still remained unclaimed. 3. The Company ceased to accept or renew, public deposit in view of want of limits. The deposits that are falling due for payment are being repaid promptly and the unclaimed deposit as on __________ amounted to Rs. _________ lacs. The balance outstanding on this accounts as at ___________ viz., Rs. _________ lacs, consists of deposits falling due for repayment after the end of the Financial Year. 4. The company has retaind deposits in excess of the limits prescribed under section 58A of the Companies Act, 1956 and the Rule made thereunder. 5. Borrowings of company by way of fixed deposits and loans as at _______ increased to Rs. _________ rom Rs. ________ as at _______ on repayment and due to interest charge on unsecured loans which have been frozen from 9th June, 19____ under the BRU Act. The said borrowings did not contravene the provisions of section 58A of the Companies Act, 1956 and the Rules made thereunder at thetime when such borrowings were effects except that the amount of borrowings increased due to interest thereon from year to year. The said amount of borrowings of Rs. ______ exceeds the limit prescribed u/s. 58A of the Companies Act, 1956 and the Rule framed thereunder on the basis of accounts for the year ended ___________. The above borrowing include amount due to M/s. ___________ for cement. 6. As a the close of _______ an amount of Rs. _______ were outstanding in respect of fixed deposits which is in excess of the limits prescribed by Section 58A of the Companies Act, 1956. 7. There have been contraventions of Section 58A of the Companies Act, 1956 upto December ____ which are still continuing, and representation have been made for exemption under section 58A(8) of the Act. 8. The steps are being taken to secure Public Deposits (as shown in Schedule __________ under unsecured loans) by hypothecation of Current Assets of the Company. 9. Borrowings under the Fixed Deposits Scheme of the company were within the prescribed limits. All the deposits were either paid or renewed except for Rs. ________ which remained unpaid at the close of the year as the same were not claimed by the depositors. Out of this an amount of Rs. ________ has since ben paid. 10. The borrowings by way of fixed Deposits and Loans are within the limits fixed by the Companies (Acceptance of Deposits) Rules, as per the Balance Sheet as at 30-6___________ although the same exceeded the limit by Rs. _________ as per the Balance Shet as at 30-6_________ 11. Fixed Deposits as the end of the year is Rs. _________ lacs from _____ deposit holders. Deposits of Rs. __________ from __________ depositors which fall due for payment at the close of the financial year remained unclaimed by the depositors as on __________. The company ha asked for the necessary instructions for the deposits holders. 12. During the current year the company has received fixed deposits under the company shceme, which were in excess of the limits specified in the Companies (Acceptance of Deposit) Rules, 1975. The company has since repaid within the stipulated period of sixty days the amount received in excess of the limits and is avaiting the Central Government's post facto approval. *******