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GTN Textiles declares dividend @ 9%

21 Aug '07

3 min read

6. Authority to the Board to mortgage and / or charge by the, Board / Committee of the Board or Directors of the Company of all the immovable properties and movable fixed assets of the Company, excluding assets on which exclusive charge was given and hypothecation of all movable properties of the Company.

Subject to prior charges in favour of bankers for working capital, where so ever situate, present and future and of conferring power to enter upon and to take possession of the assets of the Company in certain events, to or in favour of Bank of India, UTI Bank Ltd, Central Bank of India, State Bank of India and State Bank of Travancore, to secure on pari passu first charge basis.

i. Rupee Term Loan of Rs 12 crores under Technology Upgradation Fund Scheme - Phase IV, lent and advanced by Bank of India to the Company.

ii. Rupee Term Loan of Rs 20.66 crores under Technology Upgradation Fund Scheme - Phase IV lent and advanced by UTI Bank Ltd to the Company.

iii. Rupee Term Loan of Rs 4.00 crores under Technology Upgradation Fund Scheme - Phase III, lent and advanced by Central Bank of India to the Company.

iv. Rupee Term Loan of Rs 9.04 crores under Technology Upgradation Fund Scheme - Phase III, lent and advanced by State Bank or India (SBI) to the Company.

v. Rupee Term Loan of Rs 5.50 crores (bifurcated outstanding amount in view of the Demerger) under Technology Upgradation Fund Scheme - Phase III, lent and advanced by State Bank of Travancore (SBT) to the Company.

GTN Textiles Ltd

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