Name of Asset Renting proposer

Company Constitution
Facility
Facility Amount
Equipment Type
Term
Rental
Security Deposits
Asset Management Fees
Payment Dates
Refinancer to Opc Asset solutions pvt. Ltd.
Type of Finance
Benefits Over Borrow Finance (Term
Loan)

Effective Rate

Borrowing within limit stipulated by board

Opc Asset Solutions Pvt. Ltd.

Unit No. 202, A-wing , 2nd Floor,
Natraj By Rustomjee, Sir M.V. Road,
Western Express Highway,
Andheri (E), Mumbai - 400 069
Independent Leasing Company
New Equipment
30 Crores
Plant & Machinery
5 Years / 20 qtr
1 to 5 years - Rs.58 per Thousand per Qtr
10% of Equipment cost (Refundable after 4 year)
Nil
1st day of every calendar quarter (for eg. Jan, April, July, Oct)
L&T Finance
Off Balance Sheet Finance (Operating Lease)
- Lease is cancelable without substantial penalty (2%).
- Contract Life is less than the economic life of the assets
- lease payments are expensed out.
- proportionately No additional working capital will be
required.
- Debt Equity ratio & Return on Assets will be maintained.
- as per bank covenants, Minimum current ratio requirement is
1.17. Since last five year our current ratio is less than 1, Which
is a concern in near term and rating agency has already raised as
a key challenge. With such arrangement current ratio will be
improved.
10.70% is effective rate with above structured proposal.
Recently we have availed term loan of Rs.90 crore with
effective rate of 11.50%. (Interest rate 10.75%)
As on June 2014 total short term borrowing is approx. 207cr.
However as per special resolution, in suppression of the
ordinary resolution adopted at the 25th Annual General Meeting
held on 27th Aug, 2010 and pursuant to section 180(1)[c] and
any other applicable provisions, if any , of the companies
Act,2013 and the rules made teherunder, the consent of the
company be and is hereby accorded to the board of directors to
borrow any sum or sums of money from time to time. Provided
that the total amount so borrowed by the Board shall not Exceed
Rs. 500 crore (Rupees five hundered crores)
However such borrowing of Rs. 30 crore is within stipulated
limit.