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DCM Ltd. Regulatory Filings 2021
61500_rns_2021-12-01_83e4d67d-1ee2-40f4-a275-92eff38769cd.pdf
Regulatory Filings
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December 1, 2021
BSELimited Floor 25,Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -400 001
National Stock Exchange of India Ltd. Exchange Plaza, Plot no. c/i. G Block, Bandra-Kurla Complex Bandra (E),Mumbai - 400051
Scrip Code: DCM 1502820 ISIN: INE498AOI018
Sub: Disclosures of defaults on payment of interest amount on loans from banks I financial institutions.
Dear Sir,
In terms of Securities and Exchange Board of India (SEBI) circular no. SEBIjHO/CFD/CMDl/CIR/P/2019/140 dated November 21, 2019, please find enclosed herewith relevant disclosures of defaults on payment of interest amount on loans from banks/ financial institutions in specified formats as Annexure I, as per original terms of the borrowings (refer notes given in Annexure I)
This isfor your information and record.
Thanking you, _ ~ CM Limited "1. l /7~:~~ r!':Y . >~~\ sli~~~.\ ,/~ C ief Financial Officer -:---\ L_L'\/ -~
Registered office: Unit Nos. 2050 to 2052, Plaza - II, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi - 110006.
Registered Office: Unit Nos. 2050 to 2052, 2nd Floor, Plaza II, Central Square. 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi - I 10006. Phonc:(Oll)41539170 CIN: L74899DLl889PLC000004 Website: www.dcm.in Ernaii id: [email protected]
Disclosures by listed entities of defaults on payment of interest! repayment of principal amount on loans from banks 1 financial institutions and unlisted debt securities
The following details shall be disclosed by listed entities for each instance of default, as specified in Para 3 (B) of circular SEBIIHOICFD/CMDl/CIRlP/20 191140:
a. For loans including revolving facilities like cash credit from banks 1 financial institutions:
1:,~Dy)~
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| Sr. No |
Type of disclosure |
Details | |||||
|---|---|---|---|---|---|---|---|
| 1 | Name of the listed entity |
DCMLimited | |||||
| 2 | Date of making the disclosure |
01.12.2021 | |||||
| 3 | Nature of obligation |
Term Loanl Cash Credit Limit |
|||||
| 4 | Name of the lender(s) |
State Bank ofIndia, ICICI Bank Limited, HDFC Bank Limited |
|||||
| 5 | Date of default |
01.12.2021 | |||||
| 6 | Current default amount (Break-up of principal and interest in Crores) fNR |
Particulars | Amount (INR Crore) |
||||
| Principal | 0.10 | ||||||
| Interest | 0.44 | ||||||
| 7 | Details of the obligation (total principal amount in INR Crore, tenure, interest rate, secured! unsecured etc.) |
Particulars | Principal/Cash Credit Limit* |
Interest | Securedl | ||
| Outstanding | I Overdue*1 Overdrawn |
Tenure | rate | Unsecured | |||
| SBI- Term Loan |
1.84 | 2.33 | 5 years |
11.40% | Secured | ||
| ICICI-Term Loan |
2.00 | 2.75 | 3 years |
10.85% | Secured | ||
| HDFC - Term Loan |
1.78 | 1.34 | 5 years |
11.80% | Secured | ||
| HDFC - Overdraft |
11.88 | 1.88 | - | 11.80% | Secured | ||
| SBI-Cash Credit |
10.23 | 4.29 | - | 12.05% | Secured | ||
| , | ICICI-Cash Credit |
6.61 | 4.37 | - | 10.55% | Secured |
~, ~~ Registered office:
Unit Nos. 2050 to 2052, Plaza - II, 2nd Floor, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi -110006. Phone: (011)41539170
ClN: L74899DL1889PLC000004, Website: www.dcm.in, Emailld: [email protected]
mDJm LIMITED
| 8 | Total amount outstanding borrowings from banks/ financial |
Particulars | * Amount (INR Crore) |
|---|---|---|---|
| institutions (in INR crore) |
|||
| Working capital loans |
16.84 | ||
| Term Ioans/Ol) |
19.64 | ||
| Total Financial indebtedness of the listed entity including short -terrn and long-term debt (in INR Crore) |
|||
| 9 | Total | 36.48 | |
| Particulars | * Amount (INR Crore) |
||
| Working capital loans |
16.84 | ||
| Term loans / Overdraft |
19.64 | ||
| Total | 36.48 |
* Including interest
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For unlisted debt securities i.e. NCDs and NCRPs:
| Sr. No |
Type of disclosure |
Details |
|---|---|---|
| 1 | Name of the listed entity |
DCM Limited |
| 2 | Date of making the disclosure |
NA |
| 3 | Type of instruments with ISIN |
NA |
| 4 | Number of investors in the security as on date of default |
NA |
| 5 | Date of default |
NA |
| 6 | Current default amount (Break-up of principal and interest in INR Crares) |
NA |
| Details of the obligation (amount issued, tenure, coupon, secured/ unsecured |
||
| 7 | redemption date etc.) |
NA |
| 8 | Total amount issued through debt securities (in INR crore) |
NA |
| Total Financial indebtedness ofthe listed entity including short -terrn and long-term |
||
| 9 | debt (in INR Crore) |
NA |
DEL~\~ Registered office:
"... Unit Nos. 2050 to 2052, Plaza - II, 2nd Floor, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi -110006. Phone: (all) 41539170
ClN: L74899D11889PLC000004, Website: www.dcm.in, Emailld: [email protected]
Note:-
- 1- The Board of Directors of the company have approved a Composite Scheme of Arrangement in its meeting held on 28.11.2019 which provides for:
- (i) Transfer of Engineering Business Undertaking of DCM Limited (Transferor Company) into DCM Engineering Ltd (Transferee Company-formerly known as DCM Tools & Dies Limited, a wholly owned subsidiary of the Company) on a going concern basis by way of slump sale.
- (ii) Restructuring of outstanding loan, debts and liabilities pertaining to Engineering Business to improve its serviceability and revive the said Engineering Business.
The above Scheme has been filed with stock exchanges for seeking their no-objection. The Company has received observation letter dated June 24, 2020 from BSELimited and National Stock Exchange Limited (Stock Exchanges) enabling the Company to file the Scheme with Hon'ble National Company Law Tribunal for seeking their approval. The filing of Scheme remain pending awaiting in principle approval of secured lenders (Banks). The said approval of the Stock Exchanges was valid till December 23, 2020. Pursuant to above, the Company has filed the application(s) to the Stock Exchanges on December 22, 2020 and June 28, 2021 for seeking their approval for extension of time for enabling the Company to file the scheme before NCLT for seeking their approval under Section 230 - 232 of the Companies Act, 2013. The Company has been in discussion with the secured lenders at all level in this regard.
The Company has received certain recovery notices/petitions from the creditors. State Bank of India have filed a suit for recovery and served demand notice u/s 13(2) under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI)which has been stayed by the Hon'ble High court of Punjab & Haryana. Other bankers viz HDFC and ICiCI have also served demand notice under SARFAESIAct. Pursuant to the restructuring scheme approved by the Board of the Company, the settlement of all such creditors and bank has already been provided for in the said Scheme. In addition to the said Restructuring Scheme, the Company is also taking other interim measures to improve liquidity including proposed Right Issue of equity shares approved by the Board in its meeting held on February 12, 2021, to augment capital and expedite to complete the de-leveraging of the Company.
- Pursuant to the Composite Scheme of Arrangement, the outstanding amount of term loan/working capital facility as on appointed date of October 1,2019 is proposed to be restructured as per the details given in the said scheme. However, in the above disclosure, pending approval ofthe said Scheme, the amount of current default as well as the total amount of outstanding/default as on December 01, 2021 has been shown as per original terms of these borrowing and adjustment made by Banks in their records for the payments made by the Company and/or receipt/recovery by Banks from the COllection/deposit made by debtors subsequent to the said appointed date.
~ Registered office: \ .. Unit Nos. 2050 to 2052, Plaza - II, 2nd Floor, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi - 110006. .... Phone: (011) 41539170 CIN: L74899DL1889PLC000004, Website: www.dcm.in, Emailld: [email protected]