MIRA
INFORM REPORT
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Report Date : |
23.03.2011 |
IDENTIFICATION DETAILS
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Name : |
THDC INDIA LIMITED (w.e.f 06.11.2009) |
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Formerly Known as: |
TEHRI HYDRO DEVELOPMENT CORPORATION LIMITED |
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Registered Office : |
Bhagirath Bhavan Top Terrace, Bhagirathipuram, Tehri
Garhwal - 249001, Uttarakhand |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
12.07.1988 |
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Com. Reg. No.: |
9822 |
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CIN No.: [Company
Identification No.] |
U45203UR1988GOI009822 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTT00166F DELT00961C |
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PAN No.: [Permanent
Account No.] |
AAACT7905Q |
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Legal Form : |
It is a Government of India Undertaking company. All the shares of the company are held by the Government of India. |
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Line of Business : |
To Maintain hydro power project. |
RATING & COMMENTS
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MIRA’s Rating : |
A (67) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 218022560 |
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Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a Joint Venture between Government of India and Government of
Uttar Pradesh. It is an established company having fine track. Available information
indicates high financial responsibility of the company. Trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
Bhagirath Bhawan Top Terrace, Bhagirathipuram, Tehri
Garhwal – 249 001, |
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Tel. No.: |
91-1376-236391 |
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Fax No.: |
91-1376-236363 |
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Email : |
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Administrative Office: |
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Tel. No.: |
91-11-2572 05 59 /2 575 23 75 / 2573 04 65 |
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Fax No.: |
91-11-2572 05 32 |
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Telex : |
031-63085 THDC IN |
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Grams: |
TEHRI CROPS |
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Corporate Office : |
Pragati Puram By pass road, Rishikesh – 249 201, |
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Tel. No.: |
91-135-2431517-23, 2437855, 2431458, 2438235 (EPABX) |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 31.08.2010
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Name : |
Mr. Rayankula Thalpa Sesha Sai |
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Designation : |
Director |
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Address : |
THDC Colony, |
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Date of Birth/Age : |
10.11.1956 |
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Date of Appointment : |
08.03.2007 |
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Name : |
Mr. Sudhir Kumar |
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Designation : |
Director |
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Address : |
T-6/41 Railway Officers Enclave San Martin Marg, Chanakya Puri, New Delhi
– 110021, Delhi, India |
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Date of Birth/Age : |
27.03.1958 |
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Date of Appointment : |
24.09.2009 |
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Name : |
Mr. Jayant Kawale |
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Designation : |
Director |
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Address : |
D-1/72, Chanakya Puri, |
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Date of Birth/Age : |
26.03.1956 |
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Date of Appointment : |
30.08.2007 |
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Name : |
Mr. Gurdial Singh |
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Designation : |
Director |
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Address : |
B-3-2, Multy Story Flats Sector – 13, R K Puram, |
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Date of Birth/Age : |
05.06.1951 |
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Date of Appointment : |
22.12.2004 |
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Name : |
Mr. Arun Kumar Sinha |
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Designation : |
Director |
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Address : |
B 195, Vineet Khand Gomti Nagar, |
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Date of Birth/Age : |
14.05.1957 |
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Date of Appointment : |
13.10.2009 |
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Name : |
Mr. Sabha Kant Shukla |
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Designation : |
Director |
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Address : |
303 Bhagirathi Apartment, B 9/14 Sector – 62, Gaziabad – 201301, |
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Date of Birth/Age : |
01.01.1950 |
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Date of Appointment : |
01.06.2007 |
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Name : |
Mr. Chandra Pal Singh |
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Designation : |
Director |
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Address : |
IV/20 THDC Colony, |
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Date of Birth/Age : |
07.07.1953 |
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Date of Appointment : |
18.10.2007 |
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Name : |
Mr. Ashok Singh Bisht |
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Designation : |
Director |
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Address : |
THDC Colony, |
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Date of Birth/Age : |
11.10.1952 |
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Date of Appointment : |
13.09.2004 |
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Name : |
Mr. Sudhir Singh Bloeria |
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Designation : |
Director |
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Address : |
11/7, Tawi Vihar, Sidhra Jammu and |
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Date of Birth/Age : |
03.09.1945 |
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Date of Appointment : |
02.05.2008 |
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Name : |
Mr. Suresh Chandra Saxena |
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Designation : |
Director |
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Address : |
Directors Lodge Indian Institute of Technology, Roorkee, Haridwar –
247667, Uttarkhand |
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Date of Birth/Age : |
22.03.1949 |
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Date of Appointment : |
02.05.2008 |
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Name : |
Mr. Kuppan Iyengar Aprameyah |
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Designation : |
Director |
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Address : |
311, 7th main Mico layout, BTM 2nd Stage, |
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Date of Birth/Age : |
21.11.1942 |
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Date of Appointment : |
02.05.2008 |
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Name : |
Mr. Arun Kumar Bajaj |
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Designation : |
Director |
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Address : |
A-167, Defence Colony, |
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Date of Birth/Age : |
15.08.1951 |
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Date of Appointment : |
14.08.2008 |
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Name : |
Mr. Navneet Kumar Behgal |
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Designation : |
Director |
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Address : |
Rajkiya Vastukala Mahavidhyalay, Taigore Marge, |
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Date of Birth/Age : |
25.07.1963 |
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Date of Appointment : |
13.10.2009 |
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Name : |
Mr. Dhirendra Veer Singh |
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Designation : |
Director |
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Address : |
IV/2, THDC Colony, |
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Date of Birth/Age : |
02.04.1961 |
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Date of Appointment : |
12.05.2010 |
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Name : |
Mr. Kishan Singh Atoria |
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Designation : |
Director |
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Address : |
B-4/107 Vishal Khand Gomati Nagar, |
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Date of Birth/Age : |
10.01.1957 |
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Date of Appointment : |
01.07.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Syed Gamar Ahmad |
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Designation : |
Secretary |
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Address : |
THDC Colony, |
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Date of Birth/Age : |
31.01.1963 |
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Date of Appointment : |
11.03.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.08.2010
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Names of Shareholders |
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No. of Shares |
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President of |
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23737006 |
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Government of Uttar Pradesh, Uttar Pradesh |
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9238801 |
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Sai Sesha Thalpa |
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1 |
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Rajesh Verma |
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1 |
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Sudhir Kumar |
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1 |
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Gurdial Singh |
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1 |
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Kishan Singh Atoria |
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1 |
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Navneet Kumar Sehgal |
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1 |
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Ashok Singh Bisht |
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1 |
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Chandra Pal Singh |
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1 |
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Total |
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32975815 |
AS ON 31.08.2010
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Category |
Percentage |
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Government [Central and State] |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
To Maintain hydro power project. |
PRODUCTION STATUS AS ON 31.03.2010
Installed Capacity
–
1000MW
GENERAL INFORMATION
|
Financial Institution : |
Rural Electrification Corporation Limited, Core 4scope Complex, 7 Lodi Road, New Delhi - 110003, Delhi, India |
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Facilities: |
* Secured Loans includes the following:- i) Rs.31983.800 Millions Secured by first Charge on Pari Passu basis on Assets of Tehri Stage-I i.e. Dam, Power House civil construction, Power house Electrical and Mechanical equipments not covered under other borrowings and project Township of Tehri Dam and HPP together with all rights on loan and interest appertaining there on. ii) Rs.11138.800 Millions for Koteshwar Project is secured by first charge on assets of Koteshwar HEP. iii) Rs.600.000 Millions on which the first charge on peri pasu basis on assets of Tehri Stag-I shall be created and registered with ROC in favour of REC on receipt of NOC from PFC. iv) Cash Credit With Bank is secured by 2nd charge on Block of Assets of the Company @ Unsecured Loans
:- With negative lien on the equipments financed under the respective loan ranking pari-passu. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Harbir Singh Gulati Chartered Accountant |
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Address : |
D-36, Jangpura Extension, |
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Associates/Subsidiaries : |
All Government of India Undertaking companies. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000000 |
Equity Shares |
Rs.10/- Each |
Rs.40000.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3129620400 |
Equity shares |
Rs.10/- each |
Rs.31296.204
millions |
[Out of the above shares 7078600 shares (Previous year 7078600) are allotted as fully paid for consideration other than cash]
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
32975.817 |
32975.817 |
32396.204 |
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2] Share Application Money |
0.000 |
0.000 |
607.400 |
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3] Reserves & Surplus |
21529.823 |
18680.982 |
15969.038 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
54505.640 |
51656.799 |
48972.642 |
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LOAN FUNDS |
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1] Secured Loans |
45260.173 |
42300.072 |
42656.236 |
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2] Unsecured Loans |
817.326 |
1142.298 |
1098.353 |
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TOTAL BORROWING |
46077.499 |
43442.370 |
43754.589 |
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DEFERRED TAX LIABILITIES |
2833.089 |
2441.592 |
1241.066 |
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TOTAL |
103416.228 |
97540.761 |
93968.297 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
75456.935 |
78961.320 |
78032.728 |
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Capital work-in-progress |
20533.633 |
14700.960 |
10405.849 |
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CONSTRUCTION STORES AND CAPITAL ADVANCES |
2538.094 |
2208.537 |
1457.360 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
750.267 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
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Inventories |
170.206
|
151.765 |
115.056 |
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Sundry Debtors |
7576.681
|
3744.181 |
4652.777 |
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Cash & Bank Balances |
230.870
|
588.117 |
1052.476 |
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Other Current Assets |
16.188
|
19.178 |
23.465 |
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Loans & Advances |
1299.989
|
1254.304 |
1850.331 |
|
Total
Current Assets |
9293.934
|
5757.545 |
7694.105 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
531.655
|
595.491 |
1525.636 |
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|
Other Current Liabilities |
948.710
|
1060.198 |
825.926 |
|
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Provisions |
3679.870
|
2436.738 |
1276.328 |
|
Total
Current Liabilities |
5160.235
|
4092.427 |
3627.890 |
|
|
Net Current Assets |
4133.699
|
1665.118 |
4066.215 |
|
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|
MISCELLANEOUS EXPENSES |
3.600 |
4.826 |
6.145 |
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|
|
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|
|
|
TOTAL |
103416.228 |
97540.761 |
93968.297 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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|
|
|
|
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|
Energy Income |
14167.032 |
10649.993 |
10947.074 |
|
|
|
Other Income |
72.034 |
44.293 |
42.506 |
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|
|
TOTAL (A) |
14239.066 |
10694.286 |
10989.580 |
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|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Employee's Remuneration & Benefits |
791.955 |
903.477 |
768.474 |
|
|
|
Generation ,Administration & Other Expenses |
863.752 |
658.658 |
946.648 |
|
|
|
Provisions |
22.107 |
0.674 |
0.803 |
|
|
|
TOTAL (B) |
1677.814 |
1562.809 |
1715.925 |
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12561.252 |
9131.477 |
9273.655 |
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|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
4183.911 |
3818.961 |
3930.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8377.341 |
5312.516 |
5343.433 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3458.339 |
1614.626 |
1608.458 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
AND PRIOR PERIOD ADJUSTMENT |
4919.002 |
3697.890 |
3734.975 |
|
|
|
|
|
|
|
|
|
LESS |
PRIOR PERIOD
INCOME/EXPENDITURE (NET) |
12.393 |
25.350 |
50.413 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4906.609 |
3672.531 |
3684.562 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
107.097 |
420.469 |
448.801 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4799.512 |
3252.062 |
3235.761 |
|
|
|
|
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|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5375.380 |
3269.869 |
1174.809 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
850.000 |
280.000 |
40.000 |
|
|
|
Interim Dividend |
600.000 |
700.000 |
935.000 |
|
|
|
Tax on Dividend |
246.428 |
166.551 |
165.701 |
|
|
BALANCE CARRIED
TO THE B/S |
8478.464 |
5357.380 |
3269.869 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
18.037 |
20.731 |
17.180 |
|
|
TOTAL IMPORTS |
18.037 |
20.731 |
17.180 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
145.55 |
98.98 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
33.71
|
30.41 |
29.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
34.63
|
34.48 |
33.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.78
|
4.33 |
4.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.07 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.94
|
0.92 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.41 |
2.12 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL PERFORMANCE
The total income of the company during the financial year 2009-10 was Rs.14239.060 millions (Previous Year Rs.10694.280 millions). It is pleasure to inform that the Company has earned a Net Profit of ` 4799.51 million was reported during the year 2009-2010 (Previous Year Rs.3252.060 millions). The earning per Equity Share of the current year 2009-2010 is Rs.145.550 (Previous Year Rs.98.980).
The Company has already paid Interim Dividend of Rs.18.190 per Equity Share during the year 2009-2010. In addition, The Directors have recommended Final Dividend of ` 25.78 per Equity Share for the year 2009-10. The total Dividend for the year thus aggregate to Rs.43.970 per Equity Share. The Dividend pay out for the year is Rs.1450.000 millions which represents 4.34 % of paid up Share Capital and 30.21 % of Profit after tax (PAT). The Final Dividend shall be paid after approval of Shareholders at the Annual General Meeting (AGM).
MINI-RATNA AND
SCHEDULE ‘A’ COMPANY STATUS
It gives me immense pleasure to inform that The Company has been conferred with the status of Mini-Ratna in October, 2009, which would give more Financial and Operational Autonomy to the Company. Also, The Company has been upgraded as Schedule ‘A’ company in July, 2010.
OPERATIONAL
PERFORMANCE
During the financial year 2009-10, all the four units of the Tehri Power Station (4X250MW) were in operation and generated 2116.79 Million Units of Energy against target of 2850 Million Units (Previous year 3164.23 Million Units of energy generated). The shortfall in generation is due to poor monsoon during the year. Never the less Permissible Maximum level of the Reservoir has been achieved and the releases made during non monsoon period for meeting irrigation and drinking water requirements. Comfortable releases to facilitate the Kumbh Mela had also been ensured. The plant achieved the “Plant Availability Factor (PAF)” of 83.98% against the Normative Annual Plant Availability Factor (NAPAF) of 77% specified for Tehri HPP as per CERC Tariff Regulations, 2009. The parameter of Plant Availability Factor for gauging the plant utilisation has been introduced vide CERC Tariff Regulations, 2009 applicable for the period 2009-14.
COMMERCIAL
PERFORMANCE
During the financial year 2009-10, revenue of ` 10044.50 million has been realized from the beneficiaries against the billing of Rs.10044.500 millions towards sale of energy, based on the Provisional Tariff notified by CERC. In addition, the company has also earned net revenue of ` 148.40 million on account of Unscheduled Interchanges (UI) charges under the prevailing UI mechanism and Rs.2.190 millions on account of interest for late payment of UI Charges.
During the financial year 2009-10, the “Rebate Scheme 2009-10” yielded the desired results. The beneficiaries were incentivised to release the payments promptly as a result of which 100% revenue realisation was achieved. The same Scheme has, therefore, been made applicable in the year 2010-11 also.
The Power Purchase Agreement for Koteshwar HEP (400 MW) was
also signed with Engineering Deptt., UT of
PROGRESS OF PROJECT
CONSTRUCTION:
Koteshwar Hydro
Electric Project (400 MW)
Significant progress on all work fronts of the Project has been achieved during the year and Project has now come to a stage where commissioning of the First Unit is in sight. All blocks of the Dam and Power Intake have attained their full height in Jun-10. Civil works of Power House are also nearing completion. Erection of Hydro-Mechanical equipment and gates is expected to be completed by Oct-10. Assembly of Turbine and Generator in pit of Unit-1 is already completed and Boxing up activities are in progress. Erection of Unit-1 auxiliaries and Station auxiliaries in power house at all floors is in progress and is planned to be completed by Oct-10. Electro-mechanical works in other units are also progressing well. Erection of Electro-Mechanical equipment in Switchyard is almost complete and Pre-commissioning activities of Switchyard are in progress. The Directors are
pleased to inform you that 1st unit of the project is likely to be commissioned by Dec-10, 2nd unit by March’ 11 and rest two units by September -11.
Tehri PSP (1000 MW)
Major works of Tehri Pumped Storage Plant (1000 MW) are planned to be executed through a single EPC contract. The global bids for EPC contract were invited in Aug’2007. The pre-selection process was completed in April’2008. The award of EPC contract was kept pending for want of investment approval for Revised Cost Estimate and also due to litigation initiated by bidders.
Vishnugad Pipalkoti
HEP (444 MW) :
The Project is located on river Alaknanda in district
Chamoli, Uttarakhand. The Investment Approval from Govt. of India was obtained
in August, 2008 for execution of the Project. Process of acquiring
PROJECTS UNDER
INVESTIGATION
In the State of
Govt. of UP allotted Dhukwan Small Hydro Electric Project
(24 MW) to the company for updation of DPR and for its subsequent
implementation. During the year, Survey and Investigation works required for
DPR updation have been completed and updated DPR of the project has been
submitted to Govt. of UP in Jun-10. Application for diversion of
CEA has conveyed the commercial viability of Jelam-Tamak HEP (128 MW) and Malari-Jelam HEP (114 MW). GOI has accorded approval for undertaking Stage-II activities for Jelam-Tamak HEP and Malari-Jelam HEP. The DPR of Jelam- Tamak HEP is in advanced stage of finalization. Survey and Investigation works at Malari-Jelam HEP are under progress. Meanwhile advance action has been taken for addressing the Social aspects of the two Projects for which Tripartite agreements with various Gram Panchayats in the presence of District administration officials have been signed and the various CSR activities under these agreements have been taken up for smooth implementation of the Projects.
The Feasibility Report of Gohana Tal HEP(50 MW) on River Birahi Ganga has been prepared. Further work on the Project has been kept under hold by Govt. of Uttarakhand as some small Hydro Projects were allotted in the same reach Efforts are on to resolve the matter.
Bokang Bailing (330 MW), Karmoli (140 MW) and Jadganga (50 MW) HEPs come under protected wild life areas. An Interlocutory Application had been filed before Hon’ble Supreme Court of India for de-reservation of the forest land. The Meeting of Standing Committee of NBWL has taken place and MOEF accorded approval for undertaking survey & investigation works without drilling and drifting. Since DPR investigation work can not be completed without drilling and drifting, matter has been taken up with Chief Wildlife Warden for forwarding recommendations for allowing drilling and drifting. The work of topological survey is being taken up.
In the State of
The Govt of Maharashtra had allotted two Pumped Storage Schemes viz. Malshej Ghat PSS (600 MW) & Humbarli PSS (400 MW) to the Joint Venture of THDC and NPCIL in Apr-08 for updation of DPRs. The Directors are pleased to inform you that the DPR updation work of Malshej Ghat PSS envisaging a higher capacity of 700 MW has been completed in Jul-10. The matter is being taken up with GoMh
for signing implementation agreement. The process for obtaining MOEF clearance for initiating investigation for Humbarli PSS has been initiated.
Development of
Projects in
Under India-Bhutan Co-operation in Hydro Sector Development, the Government of India allotted two Projects for updation of DPR to the company namely Sankosh Multipurpose Project (4060 MW) and Bunakha HEP (180 MW) in Bhutan for updation of DPR.
The company has already submitted updated DPR of Sankosh HEP
considering Rock-fill Main Dam option to MoP in Apr-09. CWC suggested that the
possibility of constructing Concrete Dam be explored for better handling of
sediment as also keeping longevity of Dam in view. Studies regarding
feasibility of constructing Concrete Dam are in progress. Sedimentation Study
has also been completed After obtaining clearance on viability of Bunakha HEP
in Mar-10, the company has taken up the DPR preparation work. The agreement
between THDC and RGoB has also been signed in June-10 for revision of DPR. This
project shall be implemented in JV mode
if DPR is found techno –economically viable. The company has also opened
full-fledged office at Phuentsholing to supervise the field works of
World Bank also proposed a loan of 10m US$ towards
MANAGEMENT SYSTEMS CERTIFICATION
(ISO 9001: 2008)
The Quality Management System at Corporate office, Rishikesh
for “Providing Designs, Contracting and related Techno-Commercial support to
Hydro Power Projects / Hydro Power Plants” has been certified as per 9001:2008.
This certification has been awarded by M/s QMS Certification Services Pvt.
Ltd., which is accreditated by
PROJECT FINANCING
The company recently got Credit Rating conducted for the purpose of raising Commercial Borrowing from financial Institutions/ Banks etc. You will be glad to know that the Credit Rating Institution M/S CARE has given 2nd highest rating of AA- to THDCIL for raising a loan of ` 1500 Crore for Tehri PSP.
FORM 8:
|
Corporate
identity number of the company |
U45203UR1988GOI009822 |
|
Name of the
company |
THDC INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Bhagirath Bhawan
Top Terrace, Bhagirathipuram, Tehri Garhwal – 249001, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
RURAL
ELECTRIFICATION CORPORATION LIMITED |
|
Nature of
instrument creating charge |
Deed of the
Hypothecation of goods dated 14/01/2011 |
|
Date of
instrument Creating the charge |
14/01/2011 |
|
Amount secured by
the charge |
Rs.15954.985
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Rate of interest
as applicable as per the REC Loan Policy Circular in force from time to time
and on the terms and conditions as contained in the sanction letter during
the pendency of the loan. Terms of
Repayment The entire loan
amount shall be repaid by the Borrower within a period of 15 years after the
moratorium period.The moratorium period will be upto March 2007. The
repayment shall start from 2007-08. The entire loan shall be repaid in 30
equal half yearly installment. There will be no moratorium for the interest. |
|
Short particulars
of the property charged |
The whole of the
movable properties of the borrower (a) Dam (b) Power House (c) Power House
Electrical & Mechanical Equipments not covered under other borrowings and
d) Project Township of Tehri Dam hydro power project, consisting of its
movable plant and machinery, machinery spare ,tools and accessories and other
movables both present and future(save and except book debts) |
|
Particulars of
the present modification |
Modification in
respect of the amount. Amount of charge has been reduced from Rs.17767.215
Millions to Rs.15954.985 Millions |