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INDOSOLAR LIMITED — Audit Report / Information 2019
Jul 31, 2019
62435_rns_2019-07-31_14743d77-abaa-4476-a2c9-b238b327d6dc.pdf
Audit Report / Information
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Indosolar Limited
Financial Creditors
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S.no Party Name Email-id Amount Claimed Amount Admitted Amount Under Verification
1 Bank of Baroda (Note-1) [email protected] 2,59,21,38,035 2,59,18,78,035 -
2 Corporation Bank (Note-2) [email protected] 3,95,76,48,548 3,95,76,48,548 -
3 ARCIL (Note-3) [email protected] 5,00,06,56,261 4,99,74,13,039 -
4 Union Bank of India (Note-4) [email protected] 9,83,22,09,352 9,83,22,09,352 -
5 Andhra Bank (Note-5) [email protected] 3,00,00,000 3,00,00,000 -
Total 21,41,26,52,196 21,40,91,48,974 -
Operational Creditor
S.no Party Name Email-id Amount Claimed Amount Admitted Amount Under Verification
1 The Ewcs Courier And Logistics Services [email protected] 1,34,601 1,28,929 -
2 Krishna Organics [email protected] 91,83,675 70,90,061 -
3 OCI Company Limited [email protected] 37,03,91,630 37,03,91,630 -
4 SM Industry [email protected] 13,20,374 11,58,705 -
5 SC Development Technology Limited [email protected] 2,52,31,872 2,52,31,872 -
6 AK Industries [email protected] 5,16,044 4,51,178 -
7 Aggarwal & Co. [email protected] 1,68,240 1,68,240 -
8 Aam Aan Kay Gases Private Limited [email protected] 19,40,424 12,65,100 -
9 Greater Noida Freight Carrier [email protected] 1,77,651 1,77,651 -
10 Elegant Electricals [email protected] 1,86,620 1,80,919 -
11 Ritik Enterprises [email protected] 9,30,162 7,96,954 -
12 Azure Solar Solution Private Limited [email protected] 45,75,535 22,90,257 22,85,278
13 Alpha kkc logistics (India) pvt ltd [email protected] 1,38,00,929 1,38,00,929 -
14 Vividh packaging Industries [email protected] 3,20,980 2,89,787 -
15 Saigrace logistics pvt ltd [email protected] 13,56,266 12,46,380 -
16 SCHMID Technology Systems GMBH [email protected] Euro 4875823.18 -
17 Beyond Borders Logistics Pvt Ltd [email protected] 1,37,249 1,32,584 -
18 Bravado security & Surveillance [email protected] 23,17,220 22,14,921 -
19 Bravado Security Group [email protected] 2,71,481 2,59,603 -
20 Krishna Murari Organosys Pvt Ltd [email protected] 5,25,406 4,37,603 -
21 M/S Agarwal Packers And Movers Ltd [email protected] 4,17,723 3,07,500 -
22 Adhunik Allied Services [email protected] 2,38,760 2,38,760
23 Parveen engineers [email protected] 5,70,000 - 5,70,000
24 PREM PAL LAWANIYA [email protected] 43,966 43,666
434756807.52+Euro
Total 4875823.18 42,83,03,229 28,55,278
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| S.no Party Name 1 Sohanveer Singh 2 Vipin Kumar Sharma 3 Vinod Kumar 4 Tikam Singh 5 Sonu 6 Sankalp Vishnoi 7 Sanjeev Kumar 8 Rohitash Singh 9 Ritu Srivastava 10 Ravindra Singh 11 Ravi Chauhan 12 Ramesh Chandra Solanki 13 Ram Avtar 14 Rakesh Solanki 15 Rajindra Singh Karki 16 Rajinder Kumar 17 Radharaman Singh 18 Praveen Kumar 19 Praveen Gaur 20 Prakash Chand 21 Prakash Nauriyal 22 Pradeep Kumar 23 Piyush Kumar 24 Nitin Purohit |
Email-id Amount Claimed Amount Admitted Amount Under Verification [email protected] 1,35,085 1,35,085 - [email protected] 1,64,709 20,461 - [email protected] 5,39,887 2,04,517 - [email protected] 3,31,645 50,906 - [email protected] 3,41,534 39,198 - [email protected] 2,37,585 45,947 - [email protected] 3,07,581 44,262 - [email protected] 1,89,200 22,977 - [email protected] 6,58,640 2,24,076 - [email protected] 3,94,421 3,52,269 - [email protected] 3,41,534 25,065 - [email protected] 14,09,976 3,58,349 - [email protected] 2,75,662 21,476 - [email protected] 2,60,921 24,087 - [email protected] 25,900 25,900 - [email protected] 1,44,016 - 1,44,016 [email protected] 2,65,840 45,520 - [email protected] 1,63,937 - 1,63,937 [email protected] 3,63,801 - 3,63,801 [email protected] 2,99,475 40,401 - [email protected] 8,51,617 - 8,51,617 [email protected] 3,48,868 56,532 - [email protected] 2,27,903 19,503 - [email protected] 8,45,157 71,189 - Employees |
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25 Nishant Taneja [email protected] 4,83,376 56,853 -
26 Mukesh Kumar Yadav [email protected] 3,49,177 49,269 -
27 Moninder Kumar [email protected] 2,39,274 47,088 -
28 Mangaldeep [email protected] 1,80,608 1,80,608 -
29 M.A.Pramod [email protected] 9,08,278 1,51,470 -
30 Mahesh Pal [email protected] 1,50,581 1,31,050 -
31 Lokesh Kumar [email protected] 3,02,130 24,766 -
32 Lavi Raj [email protected] 2,70,756 26,763 -
33 Lakhan Singh [email protected] 5,58,213 5,23,681 -
34 Kapil Dev Sharma [email protected] 3,36,870 1,59,543 -
35 Indersen Singh [email protected] 3,03,678 2,83,844 -
36 Ibran Khan [email protected] 1,55,043 2,649 -
37 Govind Singh [email protected] 5,70,796 5,57,014 -
38 Gaurav Kumar [email protected] 3,13,739 59,679 -
39 Dayaram [email protected] 50,000 - 50,000
40 Dinesh B. Shorey [email protected] 14,22,077 - 14,22,077
41 Dharmendra Kumar [email protected] 3,70,868 68,706 -
42 Dev Singh Khatri [email protected] 42,176 - 42,176
43 Deepesh Pandey [email protected] 1,92,578 31,987 -
44 Deepak Harjai [email protected] 7,50,561 84,685 -
45 Deb Singh Rawat [email protected] 6,12,864 1,26,907 -
46 Chandra Prakash Sharma [email protected] 1,77,803 1,04,349 -
47 Birender Singh [email protected] 1,53,761 81,539 -
48 Beni Madhav Maurya [email protected] 2,38,688 28,396 -
49 Babu Ram [email protected] 1,96,136 1,92,514 -
50 Avinash Prashar [email protected] 2,33,336 2,26,323 -
51 Ashok Kumar [email protected] 1,97,528 23,487 -
52 Anurag Patel [email protected] 2,21,521 25,545 -
53 Anoop Singh Lodhi [email protected] 2,72,925 56,906 -
54 Anand Pandey [email protected] 53,193 53,193 -
55 Amit Kumar Nagar [email protected] 2,13,365 28,493 -
56 Amarnath Kannaujaya [email protected] 2,27,903 14,245 -
57 Ajit Singh Chauhan [email protected] 1,99,772 98,498 -
58 Ajay Kumar [email protected] 1,15,007 1,05,424 -
59 Abhishek Guleria [email protected] 5,02,979 96,632 -
60 Christy John [email protected] 5,99,198 - 5,99,198
61 Madan Pal Singh [email protected] 2,64,324 27,643 -
62 Karamvir singh [email protected] 90,000 - 90,000
63 Atul Singh Rawat [email protected] 7,91,118 2,13,379 -
64 Ravindra Singh Rathi [email protected] 1,91,306 57,392 -
65 Anant Bahadur Singh [email protected] 85,190 80,932 -
66 Chandra bhushan pathak [email protected] 2,87,800 - 2,87,800
67 Mahabir Singh [email protected] 3,79,206 55,220 -
68 Saroj Kumar [email protected] 6,66,290 58,823 -
69 Suresh Kumar [email protected] 4,77,509 61,824 -
70 Shakeel Ahmed [email protected] 58,343 52,526 -
71 Manoj Kumar [email protected] 1,68,015 15,117 -
72 Nawal Kishor [email protected] 3,05,770 26,529 -
73 Pankaj Singh [email protected] 2,15,220 11,224 -
74 Jagdish Singh [email protected] 3,65,830 42,338 -
75 Omkar Nath Chaubey [email protected] 2,97,500 - 2,97,500
76 Deepak Kumar [email protected] 1,89,303 1,88,395 -
77 Vishal Chaudhary [email protected] 2,11,676 14,476 -
78 Pushpendra Kumar [email protected] 2,40,508 9,610 -
79 Ajay [email protected] 4,27,740 13,924 -
80 Manmohan Singh [email protected] 3,89,832 3,04,746 -
81 Gulnaz Amin [email protected] 2,61,214 49,967 -
82 Lalit Kumar [email protected] 3,01,799 23,296 -
83 Vikas Saini [email protected] 1,51,332 11,661 -
84 Deepak Taneja [email protected] 2,40,042 - 2,40,042
85 Nitin Singh [email protected] 2,72,837 6,245 -
86 Basu Dev Prasad [email protected] 5,14,927 1,01,753 -
87 Shakti Swaroop Mishra [email protected] 2,67,320 42,656 -
88 Rajdarshan Negi [email protected] 3,03,544 2,65,768 -
89 Vijay Kumar [email protected] 2,81,021 20,536 -
90 Pravin Kumar Babu [email protected] 2,24,336 22,449 -
91 Bhagwat Singh [email protected] 2,61,861 12,882 -
92 Perveen Chandra Dobhal [email protected] 2,01,021 - 2,01,021
93 Manoj Satyawali [email protected] 3,91,912 55,363 -
94 Mohit Passrija [email protected] 1,47,394 19,027 -
95 Vinod Kumar Sharma [email protected] 6,82,566 1,63,143 -
96 Lavkush Kumar [email protected] 2,44,992 24,972 -
97 Virendra Rautela [email protected] 1,93,316 29,835 -
98 Kapil Kumar [email protected] 1,86,123 28,451 -
99 Vikas Dhama [email protected] 3,34,700 - 3,34,700
100 Amit Kumar [email protected] 3,86,310 35,506 -
101 Hansraj Prajapati [email protected] 6,30,976 1,09,286 -
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102 Pravesh Kumar [email protected] 1,53,000 - 1,53,000
103 Amit Kumar Singh [email protected] 3,15,499 15,270 -
104 Vijendra Singh [email protected] 2,67,120 2,67,120
105 Raman Kumar Singh [email protected] 2,27,979 1,77,469 -
106 Balbir Singh [email protected] 3,12,017 15,120 -
107 Prem Pal [email protected] 2,27,390 15,763 -
108 Vijay Mehra [email protected] 2,14,771 28,677 -
109 Rajendra Singh Bhakuni [email protected] 1,75,000 1,75,000
110 Pankaj Kavidayal [email protected] 2,45,472 37,498 -
111 Kanhaiya lal sharma [email protected] 39,398 39,398
112 Omvir Singh [email protected] 2,27,903 19,503 -
113 Than Singh [email protected] 3,09,391 1,80,276 -
114 Hari Om Nautiyal [email protected] 2,18,968 2,18,968 -
115 Nandan Singh Bhakuni [email protected] 20,80,182 20,80,182 -
116 Dilip Kumar [email protected] 11,779 11,779 -
117 Naveen chander Kulashri [email protected] 3,93,802 3,93,802 -
118 Rohit Sharma [email protected] 2,75,510 24,035 -
119 Saurav Rana [email protected] 2,17,998 32,709 -
120 Gyan Singh [email protected] 2,27,390 11,713 -
121 Krishna Kumar Sharma [email protected] 3,24,354 26,032 -
122 Om Prakash Misra [email protected] 4,33,459 72,748 -
123 Sunil Kumar Mishra [email protected] 1,93,068 57,445 -
124 Naveen Sharma [email protected] 4,22,190 1,07,266 -
125 Jasveer Singh [email protected] 1,30,945 59,809 -
126 Anil Saini [email protected] 3,36,064 33,213 -
127 Lokendra Rana [email protected] 8,17,022 1,14,997 -
128 Pintu Kumar [email protected] 2,33,709 29,631 -
129 Tayyab Ali Khan [email protected] 2,09,447 46,075 -
130 Sandeep Singh Sharma [email protected] 2,27,903 - 2,27,903
131 Prashant Baloni [email protected] 8,22,744 80,671 -
132 Lokesh Prasad Juyal [email protected] 1,18,312 1,13,554 -
133 Dharmvir Kumar [email protected] 2,13,365 2,13,365
134 Arun Kumar [email protected] 3,17,401 52,804 -
135 Reshma Sharma [email protected] 89,468 25,044 -
136 Avneesh kumar [email protected] 2,50,365 2,50,365 -
137 Manoj Jain [email protected] 2,56,040 2,56,040 -
138 Amarjeet [email protected] 1,91,876 17,403 -
Total 4,56,01,976 1,23,92,580 61,63,671
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- List upadated Upto
30-Jul-19
Security Interest
Note-1 Security Interest to Bank of Baroda
-
First Pari Passu Charge on the Equitable Mortgage on Borrower’s properties, both present and future and the leasehold land admeasuring 27,158.78 sq. mts. situated on the plot bearing No. 3C/1, Sector-Echo Tech-II, Udyog Vihar, at Greater Noida Industrial Development Area, Uttar Pradesh (hereinafter referred to as “Project Plot”);
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First pari passu charge on the fixed assets and current assets of the Borrowers
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Pledge of 100% promoters shareholding in the Company on pari-passu basis with other lenders (Common for working capital and Term Loan Lenders)
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First Charge by way of hypothecation of all the tangible, movable assets of the borrower, where so ever situated and/or in transit, including in particular all movable Machinery items, Equipment, Electrical Fittings, Air Conditioners, power Generators Insulation, Vehicles and other assets construction equipment’s, tools and accessories lying and situated at Project Plot.
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All the present and future book-debts, outstanding, money receivables, claims, bills which are now due and owing or which may anytime hereafter during the continuance of this Security become due and owing to the Borrowers in the course of its business by any person, firm, company or body corporate or by the Central Government or by the State Government or any Government department or office or any municipal, local or public or semi-governmental body or authority or anybody corporate or any undertaking what so ever;
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Personal guarantee of:
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a. Late Shri Bhushan Kumar Gupta*
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b. Mr. Hulas Rahul Gupta
Note-2 Security Interest to Corporation Bank
| (Rs. In Crore) | |||
|---|---|---|---|
| Security | Details | Value | Corporation Bank Share |
| Primary | First PariPassu Charge on Fixed Assets of the company |
917.71 | 153.07 |
| First PariPassu Charge on current assets of the company with working capital lenders. |
42.23 | 8.46 | |
|---|---|---|---|
| Pledge of 100% promoters shareholding in the company on paripassu basis with other lenders (common for working capital and term lenders ) |
13.68 | 2.23 | |
| Collateral | Second pari-passu charge on fixed assets of the company for working capital lenders |
917.17 | 71.56 |
Note-3 Security Interest to ARCIL
-
Hypothecation of the whole of the borrowers movable property including movable machineries, machinery spares, solar cell manufacturing lines, diffusion furnace systems, equipment's, electrical fittings, air conditioners, power generators, insulation, installations, fixtures, vehicles and other assets, construction equipment's, tools and accessories, intangible assets, book debts, current assets, raw materials, semi-finished and finished goods, consumables, stores etc. both present and future and such other movables as may be agreed to by the lenders whether installed or not or whether now lying loose or in cases or which are now lying or to be stored at any place whatsoever or to be held by any party to the order or disposition of the borrower or in transit or in high seas or on order or delivery and charge on all intangible assets of the borrower including but not limited to intellectual property rights, goodwill, undertaking and uncalled capital, present and future.
-
Charge over borrower's escrow account, rights titles, interest of the borrower into and under all of the project documents, contracts and all licenses, contractor guarantees, liquidated damages, performance bonds, warranties, indemnities and securities that may be furnished by any counter party under any project documents or contracts in favor of the borrower and the rights, title and interest of the borrower into and under all Government Approvals, insurance policies
of the borrower.
Date and document- Joint Deed of Hypothecation dated March 28, 2012 and Supplemental Deed o Hypothecation Agreement dated 05.07.2012 in favor of the Working Capital Lenders hypothecating all and each of its assets.
- Equitable mortgage of all that piece and parcel of leasehold plot of land bearing No. 3C/1, Ecotech-ll, UdyogVihar, Greater Noida (UP) admeasuring 27,158.78 Sq. mtrs together with all buildings and structures/erections, plant and machineries thereon and all fixtures and fittings, constructed and erected or installed thereon and/or to be constructed, erected or installed thereon and every part thereofattached to the earth or permanently fastened to anything attached to the Earth.
The property is bounded as under:
East: Plot No. 3B West: Plot No. 3C/2 and 3C/3 North: Plot No. 2C, 2D, 2E and 2F South: 24 meter wide road
Date and document- Declaration and Undertaking dated 28/03/2012 and Supplemental declaration and undertaking dated 05.07.2012 in favour of the lenders in relation to the creation of security by mortgage by deposit of title deeds, for the facilities sanctioned by the Lenders and Memorandum of Entry dated 09.04.20 I 2).
- Pledge of hundred percent (100%) of the equity share capital of the Borrower held by the Promoters in favour of the Security Trustee for the benefit of the Lenders.
Date and document- Agreement for pledge of shares dated 28/03/2012 and supplement agreement for Pledge of shares dated 05.07.2012 by H.R. Gupta & 09.07.2012 by B.K. Gupta therein pledging their entire shareholding
- An irrevocable and unconditional, joint and several personal guarantee/s from Shri BK Gupta and Shri HR Gupta in favour of the Security Trustee for the benefit of the Lenders for the due repayment of the Loans and the payment of all interest and other moneys payable by the Borrower.
Date and document - Deed of Guarantee dated 28.03.2012 by H.R. Gupta and BK Gupta, deed of guarantee Agreement dated 05/07/2012 by HR Gupta & 09/07/2012 by BK Gupta.
- Charge on subsidy receivables by the borrower.
Date and document: As per the audited financial statements for the year ended 31/03/2018.
Note-4 Security Interest to Union Bank of India
-
Term Loans/WCTL/FITL: EM of factory land & building, hypothecation of P&M and fixed assets on pari passu basis with other lenders.
-
Working Capital: Hypothecation of stock & book debts and other current assets of the company, both present and future on pari-pasu basis with the other lenders.
-
Collateral Security: Pledge of 13,68,85,495 equity shares of the company held by the promoters.
-
Personal Guarantee:
-
a. Sh. Bhushan Kumar Gupta*
-
b. Hulas Rahul Gupta
Note-5 Security Interest to Andhra Bank
100% Cash Margin (fixed deposit)
*Mr. Bhushan Kumar Gupta expired on 17/08/2015. Status of validity of Personal Guarantee given by him to lenders yet to be verified.