· .ue ol the o!lbenwres llor.c:rlbed ulldor lhls lnfomurtlon ~mortmdum ila" bllen autholtr-.1...
TRANSCRIPT
fnxll!un4 Con1idtl!Jl•I- tot PQxAlt grc!lff!1911 o~~
Driven by Integrity
Serial No - ---Adctressetl to __ _ INFORMATION MEMORANDUM
GCcxp S;~ Pl'lvale L~ <A pnvara .ilTl.lBJ compant ~!fie Con1paries AQ. ia56 ancl I~ t1f sharea1
Date of lncolpot'illlOIT: March I l , 20f2 ~ed0ffte4' GCotp~$Plivi!U!Llnr.ed, ll21/19 QaigPat1d.ayout Or1'-MG Roa1
~..t>lv- 500 001 Telephone ~cOll0-2.53a>315, Fen oeo- ~20Sf6
Colll;lct Person Ms ~M111 Garg &ni.1 mfobaog~roup com
luur of 500 jFlve Hundttd) hlny paid ~~ tedeomaht-. rettd, fisted notl-OOl!VertlbflJ debeocu.rn ol face value of Rs. 10.~0.000I· (RupetS len Lakhs Only) each, ill!Qregaung up ~o R$. so,oo,oo,Ooo !Rupees Fifty Croros only), on a pnvate pfacomtnt b>tsls (the "fs"Sue~l ln the Flnanoial Year 2015-16
~ac~gl®lld
This lolonnallan fAEmorand1J111 ~ relaleJ Ill Ula ~ to be ls.sl~ t>y GCOC'P ~ f'rival9 ~lmited I"-' Issue!' v 'Cocnpanfl one 111r;ara placemelll tass nl contans ~ mlomtz.: aid dls:lolUres ~
IOI Irie ;..1!pOllO ot isstas ol tie rutty Pl'4 S<!Q.ll'!ltf, rll~. ll!h1'1, tlOleO ~ven11J111 ~ Tno I· .ue ol the O!lbenwres llor.c:rlbed Ulldor lhls lnfomurtlon ~mortmdum Ila" bllen authOltr-.1 by tile lssoor 1rvougk a tEMIUtcn passed by tie shar&h()lders of tltt luuer 011 December 10, 2015 ana b<>nld ol ditecun of \he l!iWit' l>.!eembE! •i 21'>!5, 11 ~ ~ill! Uie 1110\.'ISIOOa Of Ille CCr~ Ao!, 2013. atld !till Men ~m ana Alld!s of /\SSOeiafo' !If lllt ~n1pany The pteS!lol ~ 1 ~& at 1 mlbfmaucn t,'e~oourn 15 wllnin 11'8 Qverall powel'$ ol the Boord as pe;1 ine ebOVe sha~r resohlttnn
Ttu; lnfll.,.... ~motillld1111 n:s bels11 Pl~ . COOfo!TTlity v..111 ltl8 ttie Silclmlles ala &hange 81..:14 ol lru tl>'sda Md Listing of Dlltt Seoonl..s ~ 2ooa cS.'SUfd by SEBI, 111111 Sectlnliu Sia ~ Soft ol 11'\dld (fssw and LIStlf'dl Of D* Seeuribeii) (~11Wlll$) RegJJla(IOnS, 2012 IS>IAll ti) SEBI 11$
ameooed troin llme to tlm& ~naral Risks
A.a ttie Issie 11 l>e1ng made on e priVmc (lbcellieot ~ tnrs ltmmt/On ~ flai. rd beel1 sttbl'oll1Rd In 11r cleared by SEBI. ThG lssue has not belln racc>mt1111nlled or approved bV SEBt, .r10f ~ &£81 !'juarantoe tl'te i!CGllfaey ~ ildequacy ot lhls 1nro1mafion ~m. In~ in (JObl o11ld de!ll fllllitlld seamtllls tlvotve a~ of nrt <Yid ~ '11outcl nal ~ an~ M1k t11 l!e.bl lnslllltf~~ llll'lless tt1ey t¥i ~ lo l~el!'e "5' a~ ID Qld'I ~ tirmtors pa;,.sed ICt liJlte an 4'b'lT18(l. <leo!!ICJll ;nl tl)re.'ld tile 11$~ faciors GOl1!fUily befonl lfWesbng flt 11\IS of!erit'\g f Cl latmt,l •n U1vestn'lef\1 deasioo, •1.ur.ts tnUSt !Illy llll their axamln.dlon otlhe lssuo Uleltllf1119 lho tlsKs 1nvol'oltd 111 it
c;: Cetp Spaces Pv1. Ltd.
2l'1'9, Oralg fll!C Layout. Oii M.G. Road. Beng<tlort-560 DOi Tel 1 Fax: 080 25320315 116 E:m:itl lnfoban91l~corpgroop.comW1b. www.qooreg19up.com
CIN: U•5200KA2012PTC062993
Friyatf and Co11f!dontl.t-!or ppyatt !i1CG11latio!) ptl)Y
Issuer's 3bsolute tnpon'1b111ty
n fSSIJ"...r, l\8\ltllg rt"tdt "' ~Ill incuinet ICU(ft 1espOOSilllll1y for. and ~ lllal UiiD lnloml~ M11morandum eon~ I\~ lnfornmtlon with ~!W lo tile IS$ll!lr and the ISS\18, wllich Is ma\el\al 111 1t1e ~al lho ~ Iha! 1118 hutm:il!on oon\einecl L, ~ lnlormation Mernotnndum ts '1ue aM r.orrt)(;t In all 1Ml:l'tal MptCts a\1 * ~ mil'! -~inO tn 9<1'/ ~ '"'*'' llt.ll llle ~ S'ld lllel11.cN ~ v-~ ~ hcn~stty "8111 an<t UTat 111ere alll 110 Oltl'?f t-..cts, lh11 QmlSS1on al whieh m~ ttti'l tnfommllon fMITll/llllldinn es a ~ Cf Sll'f of such infotmallon or the upre5S10l1 of any sud! QlllnlOnS or 111ti:nUons m1Sleadina 111 ony mnlr.11al lfSOeCI.
C!Mit Rl!Ung
Thft Osbenl\Jf£6 propos1ld IQ t>ii tssued by ll1e bs1ier 'have b~l'I rallld by Brdworks Ratings lnd1a Pvl Lto. (tne ' llatlnv ~1 ll'M:I ~sting /l/JertCY flll:5 \'I08 1tt tetta< dated J.tn.lllry 8. 20t6 a$Slglted a GU~ of BWR B {Qilool ~) (pronou~ ~ 8 111111 ~lltbi& CMbct.) !II ~ of the De!>MW~ ~ Wflll ttu mtJng are consWJered IO h.ive nigh osk of dnl~kut regarding ltmery ~rviolrig of t11\1.110al Ci)bgall0119, The lll:oW ratnig ls not a 1~ to buy. sell et liOl:l ~ asld lnyesm stiwld take their own d~1slon Thi ra11ng1 mJY tie .. .-.o . ,oo °' ~,.. •"'rane 1l'f 1t1e Reiill!I AcJtcy rm shol.ll lit m~ lni.lependenUy of 111ry other ralinga. Plel!llll refuf to Annexum I of lhls fniofmlllJO!I Ml!rl!OlllOdum for the lo'Cer 4atad ~ ~ ~t8 trom t•ie RaUoQ ~ ~llll9 thtt credit iauno ~nO!lild,
lu~o Schecl\lle lSGue Opons on: Januay H, '111~
1$5\w. c1oi.~10 ~- Janll3ty 12. 201a Ceeme<t Pate or AllOonem;JaJlUllty 11. 2010
~ tss.a t~ IN ngilt to ~11 lfle tss.111 ~w llJG1ud•ng R ~ Oa of Alllltmc:on • • ~ \llscrc11on, ..tUlcNl giving illlY tea.sons or Pflor oollee Ttle !&sue Shall be opeo !Or suD!lellp~on durUl!l lllf ~l'lll h.wtS on .ti da'j eluting tM pel'IOCi wei~ b1 11\a fSSIR ~~
fl., Oebentlrros are pl'Oposed to be Usie(! on the v.t!Olesate Oi:bl malkCt of It\!! BSE Llrmtlld t'BSF)
flegistr;r and Tri11sfer Agent lntegll!led Enterprises (ln<lla)
l.Jm.ted
JO, Hamana Rasldency, ~l\ cim. Sl. ROllll
~·1un, ~~ - 5lilO I.Cl Tele •91 fl0134(ii)lll~ll)81&
Websitt •ff# lllWVJ.leolfldlaln OJ1lad ptncn s l/T ~
(n\(!11 ¥:11 nzWtJWt!!!<l@!ygl!JdlUl
Debonturv Trustee Axis Trustee SO!Vta:es Umltod
~ ~ .... l1cci.lamw1~·<q ()!j)1pcun¢, Pat1d\Jtd\ij Qudlllt~t Marg,
wern M\lmbll).400 026 •9122 2'11&21:.·11
Fu~t022.~ Emllll dabe/lturalms~StrU'SIW.CIOm w~ a!W! J:>o..t\"'~ «till
Cont~! pt'fSJl1' IJr Jcyel11U Q,;asa(I Sl1tttY (0 ~O"kiar)
:r.: ~~ r@nitlru@tml GW!l!!HbfWX!Wllitae-ma
lAllLE Of CONTENTS
SECTION I DEFINITIONS~ ~IATIONS 2 SECTION 2 NOTICE TO ~TORS AtlD DISC'.MERS I SECTION 3 IUSl<FM::iORS Q FINANCIAi. STAl'EMEHTS If SE<:TIOo'I ~ P.fG\ll.ATORY DISQ.OSURES U SECTIONS TRANSACTION OOQJ.11EtllS AM> KEY TERMS ~ SECTION 6 OTHER INFOR!M110H N!O APPllCATION PROCtSS '1 SECTION 7 DECLARATION 4~ At<NEXURE I LETTERS FROM CREDIT RA TING AG£NCY ~ ANNEXURF 11 CONSENT LETTER FROM niE DEBENTURE TRUSTEE 51 AHNEXUR! • APPUCATION FORM 52 AN°'DlJP! JI/. ~ AUDHB> Al. STATEMEHTSQr ;HE l:>SUER FOR THE. ~t YEJ.P. lt«lED tJAACn 31 ~13 515 ~ ~ AUOITtO ANANCIAl. ST A TEMENTS Of THE ISSUER FOR THE ANANCIAl. VEAR Et-.'tlEO MARCH 31, 2014 6~ ~ ~ AOOTEOfi'tANC'.AlSTATEMEHtSOf DIE ISSl£R FOR TliE FINANCIAL. 'lfARfNDEO t.1AACtt l 1 2: 15 65 AHO ~ UMITED RE.VIEW HALF YEARLY STAtlOOONE FINAH<W. STA 1'CJENTS AS Oii SE'OIDASER 30 2015 \S
P!!•P !!!d Conflq
SfCTION I . OEf\HlTIOHS ANO ABBREVIATIONS
\Jroess !lie context l'll!IUIW!~ lndit:it&s Or iequ1N~. U1i ~1110 oonns Shall Rine lha ml#Mlngs g-..en tielow ln U111 lnlormatiOll Memorarn:Junl.
Boanll Board bf llle Bollrtl or l);a;tors of h! ~
rr~r: Day..,./ --~~S~~~~r lllan a Saturdny, Sunday Of any pubfic ha1•ldy, on which 1llB plinclpat ~ng Day comm<ir~1al batiks IQeallld 111 Be~DIUM lndla are ope11 far boslnest <11llfrig normal
=---t~banklNhours~-.--,,-.,.--,.,.--....,..---,...,-...,..-~ OebenWres/ HCC! ~ ffr.o Hundred) u, ;:aid s.ewred, redeemsb.'e, r.lh.o! tblt, non~
~ll(l!$ ead\ I'~ a to Vdl• c1 ~ 10,00,(l()Ql-<"Ul'«" T!!ft l.Jltt.s only), of __ ...,..,_,... 1ttl! ~resa'! ~ ..a1t1e o1 R£ so oo.ClO ooo tljllpe:!! fil!J' c~ ~'!--,-.-__,,....
~111ure. Hcldm ' T NI llcldets c( tllo ~ ll:XIBd by IN ISSUE" ..VI •tuill al:;o cdJ>e any of lier ln\lestars ~ a!ld asSi(lns ~ bin& to lPl!- ,\'TIOse natTIN n r41illl l'l Che fdl. Ill
Deelned Date of Allotment D@lli!lllll~ T "'Jble
Ocbenture T RISI Doed
C~posllories Act
~llory
_ betlef!Cl.al O'M'le!S as ?'!ll"bJ, hllltl .w1 issued by U~ ~------I Janoary 12. 201 &
l\X'ti\T~ Slirli<les l.Jmfte.J
Tie ag"'iieiiienl lO Ile mtectl\lld betMen Ille fSSIJef .,., Ute ~ T~ll'lf (:Olltltm~ Ille ~nf,m(!\'11ol111! UC. G.S ~ ~ l 1\1$1!'0 to ti~~. as mont pai1ICU!altf desaibal In S t • ll'ldt' Scc;bon S tef'A..n.
He 11!9\stllred De!let!Curt TMI fD e;-~-e<l-be-~,....~--N-=OkotnlUf!! l1161c!e 8fl<I ll~ C11m~y for lilt puip.l~s al ~ out lf\e tetrrJS :ooii whldh lfia Debt:11lu1llll am ~Ing l~sued ancl the rall!s .-o rvsponsiblllt.les of tne Dotlenwra T !USlee ig ac\ • debenlUre trustee m oonOOCOOn Wilfl the Issue ol the Debentu1$1 Tl1e CJepg~itories Ad.. 1996, as 'Blfltl1¥llld from time to tl1M
I\ Oepos.rtDrf T£gtSlered ~!Ill SEIN l/Nler the se!ll IDsooSi~" aid l>ar1JCi11&nts) RiOOul!llO"s, 1996, as e1t1t1ded from time 10 time
De~ry I\ tltl'tOC-'IO!y ~ ii:t 11e!i11¥1 ~ the Del'lOS4}Mel! lllJ Pll\ldpant I DP Dfrfetor(S) DlrectOl{s) II( ffle lss!Jer
:-:-=-..,,-~~-::------~--~~~-~ DP ID ~Ory Partlclpant ldwfillcatlon Num.~ Due~o-a-te----i My di.1te.on whlcl\ the h0ki1!r~ of Ille Debentures are enti~ 1i3ii'Y payments. wheUw
on 111111.urity 01 upon ex111C1M1 by ttte :COmpaoy ot the Cllll op!ion to redeem ~'° , ------Oel*llu:ts pl\or lO the s:rt\edlWt Mi1:.:::.lll:.=.ritY_,' i..:D""ate"'-- - - I
Eerly Redemption/ The rightot tile Company 10 prepay the 0¢6tlnbJtes 111 $Ullh lnstaltr"!nts-as ;t may deem Call Option nt. by giving a notice In Wlll:ng 10 Uie Debefflllte T lllStee at least 30 (Tll1tty) !lays prior
- -----1-"'-1 the dale on )'lhloh the ~!l<l!lY oroooses m rf'Qpay i11 tne l)lanner 11lbtesaid..--.-.... · __ _, scs ~ Cle~"' .... Se...,l'l/IOQ..__ ____ _
EFT Bectronlc fu!¥I r 1'11115fet
financial Oulll1er Tb<= l'f!!l)edlve llmc oel1Cl15 fl~ r:i!e11<1ar '(e11I 01 b€giM1119 AiP ~ e~ on June~ ~I ~in1U11g on Liiy 1 Md andirG aiSep<e~ 30 !NI be911'11'1'<1J on October 1 eodul!) oo ~r 31: and ' '" begmnft'g m ~ r and enOtQJ
- --+-o_n ~ 31 _ _ __ _ Flnanclal ¥ear1 FY TWeffe months Ptll® commencing from f\ll(il fOl a paitieljlar c.allnd1ll' year 11od
e11drlg On Maroh 31 ol the subSequemc:atolldir yM
Ill rela!ien lo lilt/ en~!Y ~ llltr obligllftOll t nftler ll1cc.rre! ~ pf1~ er suref1) fix tte paf'T11l111 or tCi!llJ~nt ot m:int'( wl\elher ~i ~ Mu111 ~ or COi :ii !Jen~ t~ tu nof lmilf'd ID i6rf 'llllOWll raised under MY C11Nr lransac'.m tindVdlllQ any ~-cl ~ f!l 1)2'1111ase agr'!Emit, any .wiG\111 ri1<Sed undl's ni,
1
~ tff'lil bin ac:i:eitance ot blft mdorsemen1 f3c.Oty MY alTIOlll'I taJse(t pursuant lo any oot11 IJU!Was& laclllty er 1acc1vable:s !Old or dJSCnUmed {01hor than 811~ receivlibttlY IQ UtO oxtel\l ~ om aold oo a 110!H6ll00t~ biMd) llavll'tll the ~mmercl!il dltd 11111 bomMi1J1J, ll!lllgoffou 11!\Jtr or ln reldon ., nny put c;p1iM or
I J.hortlall lllldert.1~11111 . a11t lll.mvative ~QI\ $nlered 1111.o lor tl1t PIJ'PQSe& of ·~any nue.ti•.cn· lfl "'If mt« tlllt• fllnd v.;.., calculalir; 1lw \'P'\18 of !Ml .,lll!Ne bai~. °"'Y ~ r~ to !l\1111Et ~~ wn be wen mlo Cl:IClU."llJ any oountaH'tlemnliy O/il¢'n in respect d • quarantse. sil!OODy Of OOClllll!<ltillY kl!le! of Cl9d1t or llflY oh<r lostrumenl ~ by 11 ban' or financial lfllliMloo or any ttab~. In res cl en c 11i;rantee IW!ltioul dou~ COllfllir\9) __ _
fSJ rS ace GAAP Gene Acce..J!!!!!. A«l\l!lf1llllS Pril'CIJ?les Information Ttc:s ttxumenl \\hell n out !tie ~n ~ ~ Oellelllli~ f>erl'l!l lssui!il Me1110n11dum :n .a - ate '"1\!111 113,15 IS'5114 ::,j'l&\e plaOm!!ll ol Ule~~~es-fssae Objecta Shall i'a.e Ile nllllll to it il Cla.:»4 20tdawuider Seeliol1 4 l1ereil;
;_;aturity Dmi Fiiiif R Dt1t lti)ralarium PlrfOd · §."...n l'l'l!M a ;off\--;;oo; •' lffllel'l'Y fwrl ""'1111' trom ~ Pr.ienle<l Datt d atotment
•e UI January fl ~18 cMil\g ~ ro P'3Y1T*rt ~.Zfi! l:e tl!qw1ud ll be nr.t!le 11 telabon to trie C01g1C•1 on 11\e ~1'111110~. l11Cll!jl1 ~. lllO~!\ ~ C'.9fllllill1Y 11\ly
at tt.s dtscl9uon. make paymenl of me coupon eYen d\lrfog the l.'brrrlDnum ~. 111 ...,._-.,.---+-'oo=='cordanc.i::,=="'·-." Clau~i> !i.9 below.
Mortgagor(•! Tl\O COmpany
• and Ltstlqg ol
- , amended nom Special Rftolutlon ~II
Oebenl.n • Oetientin wllll "'~l
~~-··'.., ITll!b~ S"ecurlly lntorert (Cl) S'ullj!2cit
Qli ll'lt .MJ
Sitar& Subacrfpl.iOll Amoul!t ms -
(11) $llCt1 ~ ~Tr.;
The &!Cunty I lrom Ille Deo1
ntarest shalt llli ei~• and po1tecbld wtlllln a l;lellQI of 60 \n111utr) clays ned Date ot Allol!Tlo~n"'"t. _ _ ------Company • ....,wit ~Ultka pre!ereooe --.....-i Shates ol lllt
1 ~~1$1 (lfussJ (If~~ t:,de Oebenl\09 fQdel'$t~ ~~Mil *11111\tOf T al Decs1r:nd llle~u-=-~-----------~ I at~ The dloWn'lel\IS e~eodB:I or to lie Slt.eCU!eC! 111 l'dallOfl tll Ille ~ tlT tte ,
4
Pliqtt e!!d Confidtntbl - for !!!fv1tt c!a;11lat!on only
Documents Debentures, In this case berlg. (i) Ibis lnformat!On Memorandum, (ll) the Oetlenlure Trusfee Agreemenl (iii) The Debenture Trust Deed and \N) the Memorandum or Entry reOectina the «eation of Ille equitable mor!Qage kl resoect of the • • . ...
WOM Wholesale Debt M.dct
sa:TIOH2 NOTICE lOIMS'TORS AHO OISCl.AlMERS
t 1 ISSIJER' S DISCl.Al.MER
This lnformalicm Men1or31idum I& flflllher 11 prospa;tue llOI' & statement In J11!U ol 11 prospecrus Ol'l(l should ~be CP111Slnled i:> be • pro~ or a statement i.'I fa! al ~ ~ under !tie All 1N$ 1ssw 01 \he Deb?nluraa i> u(ed on the YltlM Sl!lllll•nt of 1he E..<:E IS telng 10M• mdJy on a pnva'.e pa. ·m~lflt bllS& MIJ, ?Jc co,pj(I~ ~ ~1ve11 10 II>: 5*'nit entity 5111111 ~ d=med IO ce tt 111 tf1e samtl Pbl'50ll al'CI WI b? 17ealed 8$ sut. ~ lnll!maso-~ d:llt nof ~ ti sr.iil nut l'8 ~1D Cllll!l1uuv ., 111&( or'lrM!~ Si1 1~be ri tr. Deben~ ti! llie - ii Q~ Atiart flon1 this lnblna!IOll Mil1nonindurn, ~ Ollat ~ or pr~-:<IUI li:t$ bten prepared in conr.tiCtl<Jil ~th tile olferlng ol ~ ~ or In l8taliOn eo Iha b}llllt nor Is Suci1 a p!ospec\UI ~wted IO bU rtJgiS!li:lll! ir.:lor the epplica& laws. Aceunllt~l\I tti.s 1nlonm1tJ(in memorandum has oeUher ~tn llellyered. ~r re.gtstr.J!iOn: nor 18 It ltitended to be f81llii\Gfe<I
Al. Pef lhe &ppficaUl8 p!l)Ycaloi'ls, II ls riot neoossa•y for a C()IJY ot ltiis lnfortnalloll Moffiorandom ID~ fi~ 01 111ibrrilled 10 !he SEBi b II) review and« aoprovlll r lll1tlC ~ Ille l&!5ll8t 1$ • f'lv11t11 AlmaW ciompany !ind 1111 llSua '\s ~ ftUlle on 1 l)li\i~ ptaoemi:111 D !lie provtslOn oi S:d.oll 28 " Ire tonioanoes Art., :llOl3
II flOI re~l'l llnd 9CQOllling!y, a U1Vf ot ~ 'llt"'1'1irtl0ri ~ldum llat l'Cll been IU!iel w!llt l:eAOC
n. ltltarmatioil Mo ~ It bteit ~ 1n ~ 'llltb tile ~ llell1 t.ab~ Revilla~ Thal lfllom1allo11 Memoramum Tms biwl ~"lid $Ofely a. ~11dtl general lltt)fm,}11011 11bout Ifft lssller to eli;J4116 1nvest01S to ~ n 1~ ~ and Wi'lo. be111g Pl'mlHted pU/'IU3lll ID Ille ~ or this lnfolmabOn Memorandum, am Willing nnd el111ible to subscribe IO tho Oebentl.Jrer.. This lnfonn.1t1on Mllmorandum doeS not purport lo conlaln al lhll l11lor11111tbo 1h111 any l!llolblo l11Vestor may reQuittt. Purthet, 11\lS ln~al1011 ~um ll<n !1110 p1lf>Sl!d !Cf 11\formllllolllll ~ relai1119 to 111$ tmosoetloo ~and upon lht e1pms lllldeis1!111dlnq "1<1t I ~ U$«1 CllllV ll>' purposlll sill (Ol1ll tieteo11
~ lnli tnlolmallOll •~m POrany ol!IOt 'l'lfoo'Nllotl av.,'lp(ied .... coamoo \'Alli 11111 ~res~ .-.wide<! lo~ N l(\WJ of lilly Cl!IO•t or olheT ev ano any ~or lnb lnfcmillO'\ ~r "10\Jld not~"' ~111)11 ~ ~ a ~I.Qt! IC subsl::dli? 111 any ~ iAICi/l lrtl'!l$0 ~I~ suf$:fl!IUOrl IO ti.rrf 0ebel1WJl.'5 ;.°"Quid m. kv b ?'Ml 1ndepenthln'I l!~itJ/1 fA Ille ~·~ c:otllhbOn and anaira ol 1111 l~er. and lts CVlfl apprn1sl!J ot ~ oedltworthl1leSS offfla l~Uilr. Poletlba• 1nvesto1s ltlOtlld consult theJr own ri1111nctal, legal, fax ancl n~r PfOfM!le>oal 811\'ISOll as- lO lhO ~$ and Investment CCCliliJeralloos 8lslll9 ltoo1 an tn~estmenl in tile Oetwllu1t!S Und shollld possefls 11\u lll:lprOprlSte resou/'Oe$ fO 11n11Jyse S'.dt i!Mlstment ~ UWI &QJ!alllllty al such 1nvoi;lrt\(ltlt io well 111\<esl!Jr's ~tk.ul.11 cltwm5~ 111~ II\& ~l~y of~ lnWl~f0!$ biile WlSUfll Ulat U\t7y v.1• sell these~ hi Ltnd 8Clc0rdance '1111h Ire [1'0'.:s<ons D1 9PC*' < a fi!'N llllOll lllal ~e salt cJ(k!1 l'ICll in-~ a.n ofte kl Ifie PIO Wllllll Ille mean111J1 ct ri&Compan;es~ .~tl
l'hs lss.Er ~ftm$ '41. 115 Of~ 11ate l"dfd, Ull& lnbml!oc>n Me~ (~11'19 1Jle ~nls ~~ h\' ~ t\4/111n. if an,) aim.Ins o» u tlllom'la\IOn ll\tll iS mattif\.~ il'l ll'wl Cllll~ of ttie ISSV!I and ~uJa\oly ,lllQU11111neots In relnlion to~ lss~ iY~ II 11et11rate In all sooh 111erer1"1 m~ NO pe!SOll l\Ds been euthortzed 11' glVo 1111y ll'lformation or to lll.1k41 any representation not cooliMed or lnC01pomted fly •flfeteree in lllls lllfomlflliall Meruorandu.m Of lll 1111v malen..I ~ avaMblo by hi lsaullf lo if!Y iiotential ~ pursuam ~ IWltl, 11 gNe11 u made, sucll lnfonN!on Of rell(esentnhot\ must l\01 hi relai IJjlOll a'l
• ng bel!1g Ol/l:Ul.tti!1 by Ille Issuer The ls.swr a!rlilt!14 tMI tf\e 11~urow m...- in lhis lnl'omlatlcn MtmtlrarltUm in ..11.1~ int It! OQO!ormdy WCI .. SEBI ~ Ang ReOIJl,llom. Fu!UleI lte !U\111 ~ no ~05,~l.ty 1« ICl',,9l!leflts m.- Ollla11110 11un '" uia 1~"11 t~wn t11 a1f CJl!lftf ma11!nal ISSue<I r1f Of •lie frlStance al '"la I~ 111.i an)llllt ~ rel.a11at CX'I any Sc>Ullllt of• itliulatiOo OlllUl lillul lnfs lnf0<ma:iClo M11motoodum ~be tlo111g eo • A'i ""' 1 nok
rnis lnfomiaOQfl M!lrriOO!Mum ;ma the corttenlS n~reol are 1estrieled otlly fD( tlltl lnler\lled !11Clplent(s} wllo turve ht.~ addressed dl!'&eJty mi apooirtcallY llltOOQll 11 con11n011icetlOll by the 1$1\101 tld onfy s11CJ1 recipients e111 e.ig,~ to apply IQr tt• Olll>Onllll'tlS. Al lrrvc!:lors a~e reu1JJll'.'d to comply Wi"1 lf16 romvant ¥tionslguldellncs <Qllliilllble ID :!Em fol lnvls~rw 11 u1is Issue. Tl• ~,.of lhls llllonoo.tmi Men'°'~ ii/I! 1nteode0 IQ te
PITyf!t zridConrtdtntlll-!pi P"tl!!lt [email protected]!lti
Lal c:nlY' tr, d'me it1V8~ II ~ It IS <iis~ ;J I ""' lttlerilfed for dls'.ii!Jll~ !,() lllly o1t\er pe!SOll ft ~not Ile rep<OdlQd by 1fltt rec~ierlt
No 1hwl1ation 15 l)llrng mflde 10 11ny pelS'.llls ot!lcr h1n tl'loso to Whom APOlltatl!)n Fom1t along wirt1 ltlli lnlom1ation Memomndurn betng IS!!OOd lleve tieen $Ont Ally ~!ion by a ])el'9Qll ID whom 1110 Information Mo-ctand;,Jm tias not llc!cn :nl bY1he rs&Jer shall be reJldtd wtllloot asslgtling illl~ 111ason
lJ'le flel?iOO Wfto '*Iii lfel!.,. ~ 1!1$ llllbrm;ficn ~ sMM llCll ~Of di$l11bolD Ill~ et part or e any anrlQl,llCmTllnt In ~lie Clf 10 a vw p41'1)' f9!1Srlflllg lht as "&1!111'?~ ~II Jt ~ ainse111 cf Ille
lq11111 The reoprt ~,_In keep CIOllfldenllal ~~ 11\k>on.1\lon pl\W\1eO 4Qr made o lln<lflef), fncl\Klir\l wllhOl.n lfmitaliott, U. 0~1~ ;iiict ~ of the lss11e, nny ~~mg 1~fOl'rnall0!1 . ..afM lo tlle Issue (11 ltlf' wnour~ O' tems of w1y lees payable to us Of olller ~ tn coonectlotl Mn1 th& lssuo Tl1li lnformaboO lrliilmorandum ma,y nof c. ~. reprod:ucat, 01 <llSl!lbuted to olhels a itrf bmo Wilhout tll& pncr Wtillel1 ~I of Ille lssuet Upoo request the recipil!nl! Will promptly return ;in matolfAl reoelved flom Ille Issuer (indudtng !ills ~ ~1nor!lllduml 'MlhCIJt n.ta1nli19 any ~ii "'1eol. tf any l'W/J t!f1I ol ~ lnfQrmatloo Metr«mrldum ~ rtll ta ~ i1 the 16tue, ~ r9*ril must p!~V rclum tn.s lnkllrtlal.l¥1 Mil~ Wiii all ·~ W!let!IE1' tn Who!• Cit 11 patt lllld any other 11bnw1~1 \tateme.nt. rOloe ~ memorand'wn. e•~ °' b'e<la.sl mOCM or ~ at any uni; i:I '8.illOll 1nuro10 or •eoehad h ~~ 111tl'loc1 willi lhe 1-.. IO Ille ui:t
Tht ~tents d Ila frtlom1lllll'JI\ Memorandum are 1ntentlld lo be l&X!ll onff ti'( !hose 111'i9SlaS ID 'l\ti<lm ~ I! d1stTibuted. It cs not ititet'iiU!Cl fol cl1stn1lcillatl lo any Olhet per'$0rl illlO sftotild !IOI bU 111P«lduce0 oY tllO ~Pi~ The pelSClll IO wtlOOl A copy ot 1111\ lnfomlatlon Mo1001J1Mum ti ~I Is alone enlltlcld 10 1q>ply tor \he Debe111111'ef No !IMtatlon Is belrig made to nny pasooi; othm tllM lhoso to whom the apjliloallon forms alOng ~' lhl• lnlonna!ion Memonindum ha~ b&.1!11 sent
Th ISSlJer doe rOI ulld~e 10 lfl)(l3t& uwi l/lblnlll\IOll ~t.m to 111~ 51bAawnc e .ents after tt dillll of 1111'5 ~. ..m Mll!llQJllrDJm aid ~1113 tt "1'\ut4 rt• lie ~ upon Milt ~ tr. 9"31 s~ ~ llll:lCfJt mt '91\ft/Tning its i1XUSf1 with t!IC! • !Nr Ire deliYery of l~non Memoraodurn i:i:r any sate ol [)l}bllfllUre nm /eeaffer sl\all, u. \W tnr cnJmstMCeS, axu.1 ut1 1 fOP'9'5e~ ar -.:teele ariy wnptiea\ioo ttlat tllllA:l 1\111 t..n no eh~e Ill C'le ~ ol IJ'lli la~u&t sn:e llle cla11t l~~eol
This lnfOllll3tlon Memorandum does not oonsi~uto, nC)r m!ly II be used for qr In conncdlcfl With, an offer or r..ollcilation by anyone In a11y jll!IJdlcliOn in which such otM cw 5dl'ICl!a~oi1 15 not 8li~ or to any person t.1 Nlem a ~ onlawtut to ""'~e wc;h en ol!er or S<lllcitr.!01 No ~Ile.II iS ~ lll~en tu tJIHTidl ljf\ olfer\ng GI lht Oil:lonwres Of !tie dJsUlbu(OI Of tllii lnltllfl\atlon MelrOllnclum Ill any~ ~11:1'& $1Jt)1 <'ICllOI\ Is reQUi'@ci !lwsol1S 1n!o wliose Gii IN$ lnformll!ICO PA> ~um eomes ace ~11;!11 Ci lnfolm ~ abtlllt !1\1 ta ObseM!"" ~ ~ The Wcrman Ma~ 6 fl".ada avaiWhlll 10 ~ lllW!SIOIS 111 UIB fSSllG on lne mid undi'fl;tarl(Jtng 11\Eill!Sctdllt~
l.2 OISCl.AIMeR CLAUSE OF ~TOCK EXCttANGES
As roqulrett, a copy rJ tl1lS Information MernoraMwn llJS 1Joe11 iiled wiltl tilt SSE. In lijn"~ ol lhe SEJll OGbt Ustll'llj Regdla!iClll. It 11 to bl! distinct!~ unde!Stood Illa! subrnl&slon or ttus lnformauon Memomndvm to the BSE shQUld not bl -rv •<il a. dtiemed or tons1tued In rrean tnal tills lnbrr.atJon Mb~\ltll l\a$ been re.viewed. !)!eared or apptDVed by Ille SSC; rvd.:tes 111!1 BSE )11 illly IM'llel watrant cellify OI endoto..a ll1fl CO~Clf ~ o1 aoyolU•QQrlllll'lfSdlhlslnfonThlltcn ~. notilOe!OWil6E .. omi11t IJ\al !he~ Detlen!Ures will Ile 11!.leet w ~ eonlillue to ~ ~1., J .,, b 8SG OOf ~ 1"e SSE t1b illJY res~, b tit.< ~ Qf ltll! "'311Cd· and Cll/1ef conMilrls d tie lsDKtr Ifs OIOiloetS As tnanfli)eh141lll l'F *-f Sl:t¥11 QI
;:io~ of~ l!W:lf
i.3 DISCLAIMER CLAUSE OF SES!
¥ A1 :er the provisions of 1l1CJ SEBI Debt Usliny ~. 11 IS not $Upula'.ild t!lllt 11 tclf)Y ot ~ 1Jlfonna1i0j1 B_ ............ ~- .. ..., ........ , ............ _
~ tnal 11111 lnlOmla!Xlo ~oorn!l<ium 1h®ld tlOt " an; w11y I.<! deaned or constn1ed lo MVll b!E11 ~ved or vctlod by $1:81 and 1na1 this Issue is not recommel\tlod or npproved by Setll. SC81 dOes not tatle Jf\J respons'ibi~IY '!her for the finat\dftl i:oUlldfii!SS of er.y prQJlOSal t« wtlleh the Debenlulti cued t11eteor 1$ i•roposed ID Ile maiM or for the ~ ~ tilt! stafemtllns "'*"" Or opilllons eJC!l(eS!led ill IM 1!1forma.tlon ~
U DISCl.AIMER OF lliE TRUSTEE
The tssuer CO!lfvm5 tna1 all neGeml~ If.~ tra'/ll ~ mlldll m O'ill lnforrnatlOri M:rncat.:dum inc1UlllJ\I bul nol llmltell tu Slltllltoty and ollle< 1'411daflllY di:'.closures. lhvestilt$ "'1ollld CRrelully read and ~te lhe eorite1\tii o1 the tnfon'rla!lon Mooiorandum. Eadh IJIOSp&cllve Investor SllOUl<I ma~e Its own independent n6!Atssment o! ll\e ITllllll or the 1nvuu11oonl 111 the Debenflll'tts a11d U1e lssuet PlospetllV(I ~!ors sllould «>ow~ their C\1111
f~ 111gal, ta)! .mtJ OVW prolessiotla! lldvis.,-n 2510 lt.e ~~• and ~ eo11;;1diira11Ms enq mir.i an irr.oetrr.em In ll'ltl Oebenll.lru and .shoWd pool$$ 111a anpro~i;n1 ma.itas 10 111111yre l\t.'I ~ ill\d sl.ltabffity cl w:lh Ill\ 111 nt to such;,. 1J!I ~ c~ f>IOspe¢tive 1~ iii~ ·:quired IO mak,e thell Olllft lncleilendenl evatualiOtl nl ~·~I before ~11-.J (YI& mveSUMnt rci ue bolloelled IC b6 Ol(perienoed "' 111'111$1lng In debt ~ts and nm ablia to beer~ VCOMmlc rW; al ilw!IW1!1., ~n l!1$trumert:s, Tiie TIUSlee$, (p$O fuclo do not l\aw thtl Obligations of a bonower or a ptineipal debCol 01 M 011a1anfor'i$ lo 11111 mooies pafd/11\~ bV ~~lo!S IOI u Ill Debentutes
?.5 DISCl.NMER I~ RESPECT Of .IURISOtCTION
Tm ~ rmle 11t llldla ID ~ as 5pec!fie:'I un:..r !hr '.>.cliOll ~ • bit ll'Ml~ton: Cl lllS h~ Mc.moraridum, v.tio ~ be siiecWy -~ ttt 11111 t..suer. ~ ltifomlallon ~Cll'ldllll does nor cooi.btute an olfi!f 11> sell Of an 11w1ta1.on ., $1J!Y,cnbe tn Oobenttpes of!e!'e(j M1e~y IO arry pelSOl1 tG 11110m It Is riot apocirieany addresu(l(J, Any db9vtlls anslng 0111 cl !his lnue will be aubjtlct le Ille exelu~1v1.1 jUnsdiotion of tho c:ouns and tribunals Ill De~brru This lll!ormatJon Memorandum does not COMtihlte an olfur to A~H or an mu.ai ro 1u.lll.ioribe to lhe ~o.ires l\eJeln, 111 m1y cU'lf!I' Mlsdlotloo to. ar11 ~ to 'M10ffi it is unla.tA" 11~ <111 tlfflor or il1\ll1aliOll ~ sl/dl jut!M!i&n
t.6 OISCl.AIMER IH RESPeCT OF THE RATlltG AGENCY
Aatinss are ~ on credrt qullllY ln1 art tlOt l$:0lllmetl(lllll0na tu ii.anc1ion, 191\0W. u. :ccitse or recaH \he oe>flCemed bank mc.1111tes or to buy, *I or hOl<I any secuniy Tl~• Rmlog Agency n. Im ,f!d 11S ra.hng~ °" lnfonnallon obt31nod from SOIJrces bal!llved by it to be acx;ura\e and u1llable. The Rilli110 A"e,1cv does not, tQteiet, guaiarllOO tllll ~, adoQuacy or C(ltl1{llelaies of ;my mfolmalon and is 110t ft!ipo1~ fur art( mm or oml$8IOll$ (I b l/>e 11:5Uitt obt11IO!'d m v-.e vse of ~~ llllomlaUcn Most enlJlc whose bank rao.a~ae med tit Hie~ J.~ tave paiil otCI I IOI!~ feij, besod .on . "' •'llllll illld 1Y!>I! Ofbanl " ~IS
?.7 ISSVE O!O DEBENTURES IN OEMATERJAUSED FORM
Tiie Oebentules wMI be l$SUe'd 111 dern111"nnlked loon The Issuer nas macte 111111~emenls WIUI ma Oepositories fer the Issue °' tile Oebel)!Ull!S tn dlim:l~sed lomi. tn~ won l\aVe to hold 1111 Debentures in demate!labt:I ~ • per tt'le provis\ol' r• Ow0<1$1tones /'4. Tlw ~ 1111all take tll'etMJll; • at l.o eredlt 111! Oebet1tll!ei ·~ \o IJm CEC1eficSlll) ar:r.ount maln~ !=1 lhO IM~lor Wl1tl 11$ ~blly l)lll'tlC!tJllnt b ssuer matit 1118 Allerlmeflt ., ~ on tho Deeme:t D:ilo Nlonnent allet *'~ Cf lllll ~cQ:ln fcJ!l\. tt10-=111pn:1yltg docurMr1I$ and 011 realmtal I'll Ille oppt1Ct1Uon ncioey
)
f'Wr!t r-od Conriqoa111l -!'o! C!!t1lt ~fj!!lon ont,
SECTION 3. RJSK FACTORS
™ foll9wlng are 11\11 rr.u 1eta\lno IQ lhe Issuer 11'1 <>e.befltuies and 111o martwt in geMrol Off~ b~ U\ti mn11ayement of \he 1Ssue1 Potenllal lnvesl0i1i stioold CDl\l!\•llv oonsider all th~ •1s~ faclO/$ 111 u11s lnrormatloo Ml!fl10lal\d\11'11 for ev<l!unttng Uie l!&ller aJll1 Its b0s1noss Ml Ille Deben11Jre; bg!Qre makk1g Any lnveslmllnt dee.ISO' relall~ to ttic Oil~ Th9 Issuer bdfitwes 11\al Ille fac!ors delit.tibit(I bS7w m~l lhll ~ ~ iltlereM in illmtlllQ •1 1111 Oelle111111es. i.111 dot!$ nat ~seot that Ifie ~•lb OOloW fegaiO~ ~Of r~ Ille Debenlu!!:S ~ a:na~ve The ordCflllll of me risk fadots i> 111eR1«1 t11 1~111a\e ese cl readmg lll'CI refeiencie illli oo:s m n 4t1Y mames rdCl.rtu \hi t~rtancf d one '15lt I.act OY11r D'l11Cf tn~:ott lllOllld also read llw ctetalled lnlormaflcl'I ""1 out~• II !!Vs ~ Memar:r!CMI Ill!(! lt!aCh 1Jl8 O'MI views PIOf la~ lllY lnlle!tll!)t!!ll Oedr.sloi1.
Please note that u111!11ot ~ or quanUfled ln tM ll!lnvlw risk factors, the Company Is not In a positioo to quantity the finaociat or O!llef lmpllcetions of any 115' 111e11tt011-Cl l1ereln below:
1 Repayment ol pr1ncipaJ or ao11pon ts sublecl l,o th• credit flak of the Company
~ llf<liSIQll UIOUllJ lit ~ tllal reoalp! al llllt ~. l'nl1Clpal ~ ... nl Jl"f Olilflr arl'O'Jl\l& lt.Jt mtlJ be due In 111~ of ~ Debentures r> ~ IO Ille credll ~ al l:li O:ltrlpaf'l'f in1 1118 ~~fNll ol'lvvstols assume 1;,. tlal tile 16Slllr n:I} llOl bt a1.-. IO ~absty lfltW ~llOllll ~ Detienl\lre$ In tl1V evefil lllat !la\~ proceed~ O< t.emp0$U)on. scrieme of ilfl"allOl!rMnt QI ~ proceedings IO evert t)aflkrupll:l Ml 1111tltu1ed tJy °' aga.l'ISI the Company, U• p;!}lllent or ~um' 1hl9 on Ille OlltlenhJres may be substlln~al~ IOOueud 01 tlelayed
l DebenturH mgy ba llllQuld In the secoodar~ m1rlltt.
l'he Deben!U!tS .:q bit wrt llliqllld w io ~iiry malt.el ~Y develoo In resl'*t ti 1!11( E.ett if thfJ111 18 a~ IMIMi !Of' Ille ~!llll!! It ftUl :ely ll'J ;mride SIQ/ll .. klUi ! Po!enttal 11\vestn ~ t.3>11" l!Oll 1111 Det'lenlures un11 redampl\Qll » 1 · lf'lf value
J Crtdjt Risk & Ra!Jng l>owngrade Rls.k
The Rating AQ~ has a,s~1gned a credtt ra111io Ir.I tlle Debentures. In the e~m1I of dft110rallon 111 me financial health d ttie. lssuur; llleft is a pesslllOltr thot the Ra\1"9 Agency me~ tlowngra;o ltle rating ol 11\Q Oebellltim ll'I nor:n 011se~. ltll '1suer may not be In 11 po-.ilbn 10 meet 11$ r1n11ndoll 'llll'll!lllml.lnts in ~ 0(
Gle O<benturus
I lax Consldeflltlont and leg.al Consldemlont
S)leetal ta. ~~ enc ~ corw0omtion1 nar oq:ilJ lo oert;in !yllCS ol pc;1ermal 1~ ~ tnVeSWil are urijlld lo~ lltllll lhelt own fNrtcilal. lega~ ta• and ~ piolesslonal ad¥i60tt u delsmline any financial, le!Jal. W .:ind otller lmrib' of !his Investment
4 Acc:ountln9 Con1ldcnallons
Speolal alQClulllllll a>i1~KJ.eralloll$ may ~ to w.r1.au1 f)'PO'!I cl taxpoyers.. Polllllli"1 io-m 918 urge!! t'l conSl.Jlt tl&'li' t1Nfl llQIXlUfllilg ~ 10 ~e ~of this 111~1
Security maybe lnsull\tient to redeem the 0Cbeln11res
Tiie Oebenwm 111 sewred fntra llila ~ 1116 ~oo Propel1J tlet!ned in SecliOn f ~ abo.'e, TIWI seaunty is ll mt rw1ktng chalge by way OI fl1Qf\Gll9t rNM CJI It)? Mortuaood Pfopeny, MjeCl 10 ce"3111 oond1t!OnS c;ontatnod In Clause 5 60 under SoctlQll 5 bolOW In the event 11'111t lt1e Cc>mpany is unable ID meait ds paymeitt arid orlw obRgatlons towarctn potential tn\11Stors ~nder die tilnn:. ot IM D&bentures. Ille Debenture lrustoo 1111ry .inlotw Ille SliCUl'llY Clt'll\e<I in ~peel of SecUllly 1n111rost The PQISnllal ltl'leslOI'$'
l'l!CO'lery In t?:!atiOo 10 11• Debentures w.it tie a.~ 10 (f) the mart.el ...rue o! U1a Mortgagee ~. and
Pfils1s amt ConUdontlsl-for pdvato Cl!]iu(auon !!!l\v
(II) fl11di119 a w\lllng buyer for the Morto!IOed f"ro!)e!l>J ~t a price sutflcient lo repay Ifie potential inveStors' amounts o~tstantllng uoder lhe Debentures In the event lhal Ille !S11uer avait3 of WontITT!J '3plta1 faoilltles from a fiha~al irmlwuon. the flm Wille presentty created in fa.vour af the Debenture Holder.J may Im r11quired lo be ceded, 111 wtifeh ~ase tile rllpaymerit ot monies to !he Oebenllire Hr:Mers even upon enforeement of ll1e mOrlgage oo Ille Seourlty Jnteiest is sutljecl ID ;iriDt mpaymenl of the rlues of stlch linandal 1nslitu!Jon an(I tlft~r payment of all, oVtstant!uigs tn relation to the loan availed from such ilnaroaJ inslilution.
1 Materi al changes fn regulations to wtli(;h tile Com~11y are subject could Impair tha C-om~any's ability to mce_t payments or other obllgalions.
Tile .cornparw is Sllbject generally 10 ctianges In lriOl$n law. as viell ss to~ In government teglllations anc! pcilieies snd accowuing JlMClpfes. Any changes in the regula\o!y framework a>Uld at!Vl!tie1)' atfect Ille proOtablllly of tile Compas.iy or its fut\119 flnanolal perfonnanee, by requiring a restlllCluring Clf Ifs ac1Mties, lflCfeaslng cQ5ts or otherwise
~ LegalltY ol Pt1t¢hase
Potential lnveiilors of the Deberdules 11odl be ra">C!QllS~le for tt111 lawfUltle$S of !he at;QlliSl!Ol or >ll'lt Debentures, wl\eU1e'r under t!ie falW cl lllB (lmW..:flon of its 1ncorporallon or tt1e fllr\51llatloll In wtuch tt opera~ or for compflarice by lflat po!llntial mves!or Wilti at\Y law, regulallOll 0< 1e9ulalo!y poficy a~flcable to1t
II Po11tieaJ. and ~onomic Risk In India
The ls.:.'"llef operates main~ w1th111 lndta .and, acoordingJ~. 8 substantial part or n& reven1,1es era defiVEd from Ill& d<>mes!ic malket. As a rostlll. tt is hig}lJy ~ertt Oil pievaifing eeonomfc condlJ!Olls 111 India and its resul1i of t)Jl{!r.ations an\ slgnificantty affected by 13c!ors fn"vencing tile Indian eOQJICl!ly Ao uoceMlll ec:onomlc slllla~on, in, India. an(! globally coukl result in a slowdown 1n eccoomlo grov.111, tnves1ment and (l()psumptlon A slowdown In the rale of growih in fua Indian ecouomy COUid resuff io lovrer demand ror credit and other finanolal prcdllci$ and setvices and higher dafaulls Any ~own 1n the growth or 11e-oauve growtli of set:l01$ lvllere the IS-9uer tias a relatively ~igl\l!r e~ll0$U~ «MJl4 adversely 11npa~1 its parfOnn~. Any StJCh sloWdown OC\Jld ooversery affect lts buS~. prospects. result$ ol open1tions and 1lnaneial condltion.
10PrO~r~
PrO!JeJ!Y teQOl1ls In lf'dla hsve nol been run~ ~lltilll(ld cmcl are generally malnlained manooJly lhr0119h ~f records ot all lan(l re~(ed dooumenls .,.;i"' ani also manually uPdatao This upt;aung ~am take a s!gnif!cant amount of lime a.'ld can reSJJ" 111 IJISOCUIBQies or em>IS and inamse the difflCl!ity of obtalnin9 property reeo.rds and/or malef\ally impacl our atliltty lo rely on them.
11. Regul'atory Risk
Real estate projects are expcsod to vsMous regulatory onangas (lnelluding but not trrnited to FSI spprova1$, oonSUlll::OOn lnklld approv~f$. ap~rovels rrom the Mln1$!(y or Environments ann Forests, project devel«)?men1, height approvals, oompie\lon cer1lfcates I ocx:up:illon ce/1Jflcate).
U Projec;t Related Risks
TI1E Pro)eot canies.assOOated ~ aod deta~ wtith could namp~t thl) CG&il ftows from Ille~ and lh1Jf. lhe abllily oft/I~ lo.suef to 11109l 1ls servleil1\l Obllgatlol\S. -, r ~3 LIU.g;itions
\~ '. x~t· .,~\ ~ \~ IQ
Private and Confidential - for privat11cireul!fion on!\'
Uliga\lons, espetially property 1~11~. In India can be uncertain a11<1 resoliltion or \lie same may take se,veral years and be sub1ect io considarable e~en!laS.
14. Ex:ercin of powQf'S by the Debenture Trustee 15 subject to equltabl11 principles and s.uperv1~ory pQIVel$ of OOlllt$,
The exen:ise by ll'le Dllbenture T ru.stee of the pooors and remedies oonle<rea on It under the DebentJJres, Md the T ransac~on Documents. or olher'llise ves1ed lll tt by law. wilt be subject lo geoeral equitable pllnciples, tt.e general soperv1sory powers alld dls:rellol\ oJ tile Indian courts in the oomett ttieteof aod lt\e ®11\lng of any necessary govemmenlal or reg,ufalDI}' cronseflts, approvals, atMo!lsalioos 01 Olllers.
Th& rigl\t of the Oeben11»8 Hotlers IQ receille paYflle{llS under the Det>enrures Will be JllniOr to cer1a111 tax and other liabilities, including monies due and payable tQ securad creditors of the ~ Wl1iGli have seniority 1n charyo In relabOll lo the Moltgage<J Property, preferred by law on an iosofvency of the Issuer.
II
Privf!t tad Confldential - for privflt clrt11llllo!I only
FINANCIAi. STATEMENTS
The audited financial stllemenls of Ille Issuer for the Financial Year ended March 31, 2013, Marcil 31, 2014 and March 31, 2015, as wel as !he Lmled Review Half Yeal1y Standalone Fumclal Statements as on September 30, 2015 are set out In Annexure N hereto.
12
Pn•a1e. snd Confidential-for M¥11te clrculatlon on IV
SECTION4: REGULATORY DISCLOSURES
The Information Memorandum 1s prep3red in acoortla;nee \it.th toe oro<iislons of SSBI Debt LiStitlg RliQL1fallori~ and In 1)us section, the tSStJef has &et out lhe delails required as per Schedlile I of tile SEBI Debt Uslh (!I Regulat!ons, 1l$ amandtld (l'O!ll ~IP time.
4:1 Documents Submitted to the Eitchangrs
T~:; folkr~ lloeuments have been / sfl3!I be subm1noo to the BSE. as ap1111cab1e.
A. Memorandum and artickls ot association of ,,. ls$uer arid necessary re90kll1orl(s) for Ille allolmGnt of Ille Debentures.
ll. Q>py Ol l'IU<ftted alVl!JSI fePQr\$ for tl'le last 3 (Three) ~~rs; C. Staleriienl oont~nirg partloulara of, dsles of and pal\l!!!tto all mater.al oonlra!:l'salld :;igreement:s; D. Gt>py cl Ille reSt1'Wlon ·dated Oeoember 12,i!015 passed by l!ie Board aUihonzing Ille booov.ina artd llsr
oJ au!Mflz.ed si9nat0iies; E ~ Qf the neoessaiy ieso1t!funs passed by the shaleholde~ or the Company al Uie l!ftraortlirrary
general mefltirlg 1161d on liiarcll 18, 2014 tea.2 1»iih Ille l'll:SOlUti\ln dated Oeeembf'J 10, 20to, In air1r100Uon with this Issue
i'. AA ondertakJ11g from Ille ISl.'1.ter sletlng lllal 11\$ ~ry documa/lls for Ule creation of Ille chaJlle in¢11.ltllffll ·ttie Oebenttml T nisl Qeed >M>IJld be execuled Wil/lln the lilrie treme ~Ii bed in !tis tele'llllll regtJI~ sets and 114leit and #le sme woo kl be uploaded on~ websJle of the BSE, Where tile debt seool'll!es have been llsll!d. w1ttw15 (Five! worlci119 days u! e~ of Ille same: aJld
G. /!/Jy otller partJculM or ~n:s ll'lal the r~og~ ~~ exellange may call fol¥ lt d;ems fil
.,l Documents Submitted to Debenture ln1s!ee
r ne following dooumenli haVe bee11 I sliali ~ submitttid In tile DebenllJre Trustee.. as ~licable;
A. ~m 11nd articles or associaliln of (lie Issuer and neoossaiy msorutio11(s} for !he allolmeot ol ~ Debe.r1turas;
B Copy ol abditec.t oonual l\ltlOfTS tor 111e 1ast 3 (ihroo) ye~; c. Statement oonlair1l~ parlkutas ct, dates of, arld pai1les to 1111 material conll!lds and ogteemell!s; 0. Latest audited I rimtted tel/lei'/ ha1f yearty oonsofdated {Wht1raver available! and Blandalone ~narietal
ln!ormal\Qn (P«ifit & less ~atement, bii!snm sneet 3l1d cash flQW $la\erttent} ald C1udlt11r quallf!!;atio!15, if any;
t An undwl(ing to the effect 1hat the~ would, until the re.dempboo of 111e debt ser..wities, submtt the delllils menliolled in point (0) above to tM T ru.str.& Will'i11t ltie tiolOJi!iw as mentiolied fl! Simplified. llstlll9 Agreement issued by SEBI vide circular No. SEBVIMO!BOND/112009/111D5 dated MJy J 1, 2001) as ;1mend\ld fl1)IT1 time to dme, f<lf fumlstiing J pUb~sh~ ll'S half yearly/ annual resutt. f!Jlillef, 11\o Issuer shall W1thln 180 (Dile H\lndred and Eighty) d<!YS !rtW11 l!le end of the fin.arm y&ar. su.bmil a copy ol the lalest ennwf report Ill \t\6 Tnistee ai1d tl1e Trustee sriall be obliged to sha/9 ~~tails slJbmitt~ under this SeciiM ~ att Debenture Ho1ders W:ltlil IO (Ten) worl\lng days of tlleir ~i~c request
4.3 N1meand Addreu of Rl!9iiteted Office of Ille lssue1
Name:
Registered Olfioe of ls.5uet.
Co!ilOmlll otfice of Issuer:
Corn~ice omeer ot ls~uer:
ci:o of U1e Issuer.
GCorp S'peces Pnvare Umilel.I
#21119. Cini~ Pail( Layout, Off-M_G Rooo, ~ore. ~Cl ()()1
Same as Ille reg1atere:d office
Ms. Arusll1 Gall! -Comp!my Secretary
Sent11a ~.-er s
ertvate and Conlldanlbl-101 pr!vl!ft ctrwlatio11 oofy
Corporate ldenMoat1on Number U45200KA2012PTC06m~
PMne No.: 080- 2SSW316
Fax NO.: 080- 25320318
Oont!IC\ Parson· ~. Aru$hl Ga/91
Website of Issuer http:lttlww.gcorpgroup.oc>m
Audftors of the Issuer Mis Kalyaniwalla & MiSVy. Chattered Acoounlanls
Addl1!SS. No. 1 Q2, Gangadhar Chetty Road. Barlgalole- 560042
Trustee to ttie Issue: Axis Trvstee Services Ur111raq
Address: 2nd Floor· E, Mis House, Bombay Oyelr11J Mills C(>mpound, Partdur8J19 Buc!l\KafMarQ, Wrll1i, MUmDai- •100 025
Registrar to Ille Issue: lnl(l9raled Serviees (Indra) Limited
AddleSS'. 30. Ramana Residency, 4tt1 cro~. samp19g Rl>ad Malle~waram, Ba~a1ore- 560 003
Cll!dll Rating Agemy of lhe Issue: Brlc~wori<s Ratlrigs India Pvt W
3"' Floor. Rel .Alkaa Park. 2913 ~ 3212.1\a!ene A.Qrallsra, Banriergtiatta Road, BengatuN- 560 076
(,.( A bnef aummary of business/ activities or the Issuer and llf llne of business
The Compeny-haS been incolpoltrted l\i1ll ~ main objeetiVesi
i. To cariy on Ute bu$1nes$ of developefs of real estate and infraslJ'llo1u1al facilities end !or lhal purpose to operate. maMge, develop, buy, sell, lG enter into atriances and other arrangements and deal 111 all killds of real property'. land buildings, tiotel.S, restaurants. holiday resons and st.ruCtllres of every ~n and kind illld lo catry on business as bui1del'$, &ldliteel>, sutve~rs, estaie agenlS1 conlra;tOIS, sttucwmt ef'Glneers, manu~mers and <le<llers of bUild1ng matct!a!s of rNery c!eseiiptlon and klnd and take all .such measures inoludir;g reclamation or land from Ille ~a. development flf wasl2!ands and l'iwr beds, as may be required 1or 1he acqu!S"ition mi11ntenal¥)0, operation or and wmiog to account all such real propetly, land. btlildings, inltastruo1lJre, lnsta!tatk>ns or any Interest 11\et'ein; and
ii. To carry on !he business through joint <levek>fXnent and to p<Oviele proj~I and eonstrucllOn manc1geme11t Sl!Nices and to execule h1mkey contraclf. In lll!atfon to property developmeni projec<.s including but ncit limlled to COlldOmlniums, resorts, comme1C1al complexes and to own, construct, develop, lmp10ve. talte Ort lease°' lo llCiq\Jlre 111 any other manner, and to f]o1d, manage arid Oj)8(l!l!e Md to gtw on I~ or sell and deal In any other manner, executive serJiced residential oentf'l!S, s.erv~ epanment llottt1s, plazas. bUsiness cet\11'8S and cornmerclal .and resi<ientlal complexes ~nd to provide In c.oonec1ioo thereto all faclfltles end sel"JIG8$.
14
~rlvalt ana <:onOdentiat- for.Private c:'1rvura1}o!l only
The Campany .s a prNate km1!ed CQ<npany engJ19ed In U1& business of OOllS'trUCllon aid de'/lllopmenl of roal e~tare In lndla, and in furtherance \l'leneor, has acquired of a land paroel In KoramalJ!lallJ\ !!ell!l~furu, on which Ifill Company proposes lo develop reslde1~lal units, The detalls ol the p(l)peltY are as follows:
AU lhal piece al'ld parcal Df contiguous amalgamated land at KDramangala forming parl of Ifie BOA approved remodifled residential layout in site Nos. 114 to 135, SHBCS Layou~ Srlnlva91lu Amanlkere , Segur Hobli, B&ilgaluru South, aggregating to wi area of ;lbout 2.02 acres ($<1ol11alenl to 8', 175 60 square metres) (Ille •Propertf)·
U Corporate Structure
GCofl> Spaces Private Limiled has been Incorporated a$ a pnvate company with 89.06% of the present l)alll up capital ot tlJ€' ~Y having been invested by PREl Flllll.I. a MaUritius based real-estatll fOOtJsed 1)111/llle eQul!Y fund. and the bi;llance 10% of U'le prese.l\l paid up sllllfe cap«aJ having been Invested tiy G Corp Developers Pnva!e Limited.
PREI Fund Is a fuM ini:orporak.'1 ii\ Maunuus tor Ille purpose of investing in entities eog~ 111 ~ business ot (leveloprnenl of ald/ or lnvestlt'l!nl in COll6111JOtkm aevelopn1ent projects, suth as townships, housing, comrne-cial 'COC1S11uction nnc1UdJng witllOvt fnTiitation malls, omoe t'xiildlllgs. education and trainrnQ cenlte$ and roerea!Mal oenlre$), l'lospitllJlt~ 18cil1nes such as hotel~, resons), Speclal EcorKlfnic ~nes, l'reallhcar& facilitie.$, llatdwere and sottware t~lmology par11111 wael!OUslog faciUties and/ or rendering real estate management ann consultancy serv1ces.
G:Cow O!m!opers Pnvate limited is a oompany lomllnQ l)afl ol the G:Coro ~ro11p. G.:Coqi group hdS developed nisilential am! commercial µrojeds 111 f.lumbai, Pune and Ban9alore atld has ext~ ~nerice in the 1e~I estate sector. &$pellia•f in rende~ project management i;ervloes
11 Key Ope~atlonal a.nd Flna114lal l'arameters for the last 3 nudltod years
r•mnt• ~ 91if" "' 5(~~ ~cmt#~
\S Networ1h 47, ~ s.~1. 166
Total Debt Compn Non-CutT$nl t41, 9,98 ,50 NIL NIL sing or Matllf1tleS ot Long 1
Term Bom>W1119 Sbori Term NIL NIL Nil NIL ~ CulTOOt Maturities NIL Nil Nil NIL of Long Te1111 Borrowi
Net Fixed Assets 23.133 NIL NIL NIL
Non- unetll Assets l1 , l!i.7G,517 34_.2.4,44.2.71 14 ,80,00.004 6,SQ,0(),003 Cash and ~II Gjlllvaleots 7.711 . 4,t24 8, 14.86.230 14.43,96.907
CUITellt lnvesttnenls NIL NIL NIL NIL
15
,,,. 1
Private and Confldentlal - for pnvate ctreutatlon orw
I Current A.ssets 1,76,23,46,353 t~ ,84,61.99 1
8,44,48, 135 T.10.0($1
Ctmeot Uablllttes 6,79,28,504 53,90,524 16,07,627 79.440
Net' Sales NIL NIL Nil NIL
EBITDA 92,58.296 1,52,02.718 I, 11.42,212 1fi30
EBIT !12.551629 1,52,02,718 1, H.42.212 j 1530
Interest Gross Interest 9,37,50,000 t7.22,94 ~20 Interest CaJ>italised (7,92,48,996) C11 ,62,86,427) Nil ML Nllt Interest 1,45,01,004 5.60,06,093
PAT/(Uiss) (S~.45'.375) (4,08,05,375) 88,66.712 (93,470)
DtVidencl Amounts NIL NIL NIL Nil
Cu11enl ratio ~.06 250.15 103.21 26,185,25
-- ~ . Interest Coverage Raoo 11.10 0,09 NA NA
Gross Debt! equity Ratio 3.19 5.21 NA NA
Debl Servioe CQvernge NA NA NA ~ Ratio ~
GroD Debt: Equity Ratio of the Company:
I Bafole tSS~ the DetienlUles After 1SSU11 the Debenlures
13.19 4.25
D Project c;ost and means of linao¢1ng1 lo case of funding new projects :
II is proposed lllat the Project (I.e. , the residential units proposed to be cievetooed on the land parce1 acquireQ 1n ~ala) be funded lhrougn a ludidOus mix of equity lllfused U\rough continuous 111lemat 1100ruals, advances ~l\tecJ from cfleots agaJnS1 safes aod inslltuiion81 !llndin!) paitiotpatlon thro119h debt & equity 1CUtes.
4.5 Brief history ofl'ssutr since Its incorporation giving details of its rollowlng actiVities:
GCorp Sp&oes: !'nllale Lhnited ls a' part Of ~US GCorp Group ~l 1s In Ille business Of (Ctlll estate deveiopmen~ GCorp Spaces PriVate limited was ir1corpor,iied oo March 13, 2012 and niw cwrently aaiulred several plots of farld, iflChl'ing t11e Property,
A Details of Sharu Ca pit al as on last quarter end I.e. December at, 201 S:
Sllate Caoftal IAmlRsJ Authorised 2,00,00,000 ls$uell, Subscribed and fl.Illy paid I.IP 55,85,840
B Changes In Its capital structure as on last ~uarter end I.~ !lecember 311 20151 for the last Syears:
~
13-03-2012 (Dale of incorµotation)
04-03-2013 (Board MeetJng)
28--03-2013 (Board Meeting)
06-05-2013 (BoaniMeeting)
20-00-2015 (Board Meeting)
t215000
3738900
4047380
5585840
&iYate and Confidentral-Jor.prtvate:oirculntion on!v
Pteferenflal allotment
Preferential aJlotment
Preferential all6tment
Rights issue
C. Equity Share C~pital Histoty of the Cornp<O•Y· as on last q11arter end I.e. December 31, 2015, for the l:asl 5 years:
13-~2012 Subscribers to (Date of 10000 10/- 750/- 75000()0 memoranitum 10000 100000 7400000 inoorporaU011)
04-03-2013 111500 10/- 7501- 8362-5000 Pre~rentlal 12.1soo i 121sooo '8991.0000 allotment
2a-03-2013 252390 tot- 75!.Jl- 189292500 Preferential 373890 3738900 276.678600 allotment
()6.~2013 30848 10/- 750/- 2313~000 Pret'eren!ial 404738 4047380 Z995()5f20 allotment
W-06-201.5 153846 10/- 13001 199999600 ~(ghts Issue M8584 5585840 497.967460
D. Delails of any AcqUl'$itlot' or Arnalgamatloll In !he last 1 (one} year:
NA
E Details of any Reorganization. or Reconstruction in the last 1 (Qne) year:
NA
4,6 Details of the shareholding of the Company as on the latest quarter end. i.e. December 31, 2015:
A Shareholding pattern oflhe Company as on last quarter end, i.e. El~emller Bl, 2015;
Name of the Shareholder umber· of Equity shares
Numpec of Shilrt!S ' 'rotal S~arehcildhtg he!lf fn as "I• ofiotal no ot
Demalerlallted ul sha $'
·11
Private and C9oQl!eotii!J-for private clrclitaUon only
Fonn -1_ PREI Funo 4,~,460 Nil 89.06 2. GCnm !A?v Private Umlled 55.858 NIL 10 3. Grav lnveslmenls Plivale Limited 2.162 NIL 0.39 4. Quantum Advisors-Private Limited !J623 NIL 10.29 5 Aii!Daval 1.461 NIL 026
Total s.~ too
Notes: Details of .shares pledged or encumbered by tne promoters (if any): NIL
6 LJ$t of top 10 holders of equity shares of the CompsflY as 011 the latest quarter e'lld, I.e. Deeember 311 ~015!
Numher of Number Qf Total Shareholdlna s. shares held In No Name of the Sllareholde1 Equity Oematerlallzed as 'It of total no of
sfiares Form equity shues
1. I PREI Fund 4.97,4BO NIL 89.06 ,_,, 2. GCoro Oevelo"""" Private Limited 55.858 NIL 10 3. G@r Jnvesltnents Private Limitad 2.162 NIL 0.39 4. Q\Janturn Advisors Private Limited 1.623 NIL 0,29 5. ··- Ar~Oayal t46j NIL 0.2.6
4.1 F'ol!owing details regarding the directof'S of tho Comp:iny:
A Details of current dlrei:tors of the Company:
i Nilllle lllld DIN I Age Address · Director of the DetaJls of olfllf _&>. daslonatlon 'Comoanv since directorihlnlal 1. Munlnder 00259380 I ST C.303, ManUi 13 Marci•. 2012 fl) Laneol' G:Corp
Seeru Classic, ST Pf0Pef1ies umnee1 Managln!I BED, IV Block, (ii) G:CO!P Private Director Korama11ga!a, um1ted
Bnngalore - (OQ G Corp Projects I '
660034 Private Limitad
I (iv) G;Colp Homes
POvale l.lml!ed M G Corp Developeis
Pnvste Limited (VI) Gcorp BufldweU
J))jvate Limit!!<l
t8
Prixf!! inc Confidential - for p!fya!t c!rqll11!90 only
2. SidllhaM G I 00686878 ~ 21119, Craig 26July, 2013 (i) G:Corp Privltl Sile th P811c l.a)OJI. ~ Dltecior Olf·M.G (i) LancorG·~
Road, Properties lknllld eanoaiore- (•) G Corp Homes 580001 Pnvale lkn!!ed
(IV) GCap01ru'~ Prllll!a lil\1ed
M Gaairp Bulao111!!1 Prtvall Umlld
( wl) lido Ma!!s Mai l8g4l1*lt Pnvale Umrted
3 Asl!'Mn 00349193 48 1M, Venus 26Jury, 2013 (ij Goodtint Rall Rlinlllll Appartmelll, Es late llreclot CU!le Parnde De~
Mumbai Pnvale Utnrled t.l.1haraslllra (ll) Mis Salalya E5rates lrdia 400005 & Trading Pvt Ltd
(I~) Gray lovestmentlJ P'lt Ltd
(Iv) Rustic Estates & Developments Pvt lt.d
M Sllantm111 Estata & Vyapar~Ud
(VI) RUltc tfighlands ~Pvt Lid
(Vil St#Hl.Sand Hotels lGoa)Ud
(v.i)F2 Funn fllness (India) Pvt lid (Anr..lgamall!d)
(IX) F2 Full N Fnss Pnvale LindBd
1-> Pma} Real Est1le MVl5l:xs Pvt lid
(li) G Corp Homes Pnva!e umted
(iUi) Amalfl Really Pt1vata l11Med
Ill
'~ Venkida 00253917 53 I 605.'6 Ralleja . 26"12013 Sub1•1uwam Aetopclis Apolo lyw Alhena Bldg CN9dOr Deonar
PadaRo. eeoo. wag.,
1~· Matialashlla India 400088
,,
...,___ 13 Maroh,2015 " Sadan2l.i 00574512 54 6504 Glvenclly, •
Ganalappa P!estige Bfillod Montec:aOO.
Puttenahall! Velahlnlla, Bangalore 5e0064
• l<alnataa•. Inda
~) Goodl ime Real Estate
Privato (i) Quanlum
Manage
Um11ed (iii) EqUll)'n
lri1
M
(~
IJrNed
India
Pn-. ,,.
Personaln lnMance SeMcas
Limild Ouanlun Ad\t9ols
l.ltMed ~.com
Pnvate l.Jmited
(vii) Equrtym agf2( f¥pa Reseatch PIMl!e Umiled
(viii) Ouantwn Ill fOITnat.on
P!lvate Sel'flces Limited
(iX) Pnn\arY RlNll AdvlSO!'S Limited Homes
Limited
Estate Pnvale
(•) G C01P Pnvato
(XI) Common Senso nvate Uvi119 p
IJmiled (xii) Amalfi R
Private (l<M1)Money
SeMces Llm::ed
(xiv)NaWml &.reels For Pesforml 19 Ms ~::.;._.--! F
rn Areva Re al/ly Prim? l.irnilad
(i) G Cclfp ~ Llnited Pnvata
Pnvaie a11d Coofidell!ial - for priyatt tj191!f!lon only
6. Preethy 07272020 43 Apts38 2i August 2015 Nil Papanakvm 3rtl Floor
ar Rajesl\IYaH Homes, 1ou1 cross, Raja RaJeshwall Nagar, ~ngaJor·e 560098, Kamataka. India
1. Ketan Shah 01727262 36 702. Parvaff 28 March, 2015 Nil Heritage, Cama lane, Ghalkopar (Wes1} Mumbai - 400080 Maharaslllra, INO!A
ll , Ablusttek on3964:6 33 Bf.!08.SAMIR 1sJu1y 2015 Ntl Ravlndra /JlfS.,
Rao S,V,ROAO.AND ERl(W), MUMBAI, 400058, Manaras111ra, INDIA
• ~or the Directors or toe Compa1iY appear on the RBI 0erauner ~st and/or tl\e ECGC Dl!faull!ll' fist.
Ii. Details of change in dlrect015 since last three years:
s Namoand Dllldor of the Company sfl\C• (In
NQ, Dulgnilllo.n DIN Oat• of Resignation CiH of tuignatlon)
1 Javesh N Thakkar 0059758'8 26 Jutv. 2013 13 March. 2012 2. Siddhallh G. Shetl1 00686878 NA 2ti J'ulv, 20t3
l Asnwin Ramesh 00349193 NA 26 July, 2G13 Manshal'l!mant Venkata 002S39F NA 26 July, 2013
4. S1Jbrammam Iyer
5. Sadanarnl a 0057~12 NA 13 Maret!. 20t5 Bvakod - - 07272020 6. Pt11elhY NA 'D August ,2015 Pan.lMkurnar
1. KelanShah 01727282 NA 28 March.2015
6. AMisliek 07239646 NA 18 JUI) ,2015 Ravfnd(a Rao
: } 4.8 Followlng dotaih> ~aiding the auditQr1 of tile Company:
t ~~ Detail$ of th., au~itor of the Company:
.. ~
f>tlyate and Confidential - for private clrcilla!lon on!!
Name Addren Auditor since
Mis Ka!_yanjwalla 8 Mislly Ws Karyanlwalla & Mistty, Ct\artered Accountants, 2 April, 2012 No.102, Gal'\aadhar Cl\env Road. s~nnatore- 560042
ii. Details of change In auditors since last tllree years: No Change
N~f'llt Ad<ltess Date of Auditor offhe Rem~rks Appointment Company f ResignaUQn lllMll (Ill
case of - resin nation I NA
4.9 Details or borrowings of the Company, as on latest quaner ond:
A. Details of Secured loan facilities: Nil
Amt ' Amt ol:1as on
Sr. No. Lender's sanction& Disburse I Mar 31, Repayment Date/ Security Name d (Rs. Mn) d (Rs. 2013 (Rs. Schedule
, Mnl Mnl NIL
8 Details of Unsecur!l\'I Loan Facilities:
-Alllt I I Repayment Olla/ Sctiedule lender's Ami o/s as 011 March 311 St. No. Sanctlone Disbursed
I Name d IRs.Mnl rRs Mnl 1 20l3 (Rs. Mh)
NIL
C Details of Non.Convertible Debentures:
. Cre<llt -~ .
Tenor I Redemption I S11c1,1re<1 ~lllY Series /Maturity Coupon Amount Date/ Rating /Unseour
Schedule ed -I 96 months 15%p.a. 15,00,00,00 Apnl 11, 2022 BWRB Secured (a) Mortgage simple. 0 over certain 11'1terest Identified payable Immovable half ye;iriy property in
9anga!Ore
(b) H~poltlecatio ll of the receivables tn retauon to a certain real estate project being underta~ell by the
"''1' ~I;.,.. Comnanv r 'of''
~;;\1 .1•~ }E 22 ,, -
~ '-"'~,.. ,_ •
f'!Wllle and !:nnlictenf!aT-101 l)rlYf!! ClrciMUon p!!ly
ll [96 16%p.a. SQ,OD,00,00 May 30, ml BWRB Secured fl) Mortg11ge rool\llls) simple 0 overee~ln
interest. ldarilifl&d p<iyable Immovable half yearly, PfQperty ii\
B3119alore
b) Hypotllet:aUo nor ltie receiVables 111 relation to a certain real estate pll>ject being undertaken by the Comnanv
0. (I) List of Top 10 Debenture Holders (at on Manib 31, 2015)
IS1N • IN.E518Q07016 ( HCOs Serles I) ISIN - INE518Q07024 (NCOs Series 11)
s, Name and Address of the Oebenlllre holders Client Ill & DP '10 No Of Debentures held No 1. PRIMARY DEBT INVESTMENTS IN3001{;110US333 668 (Selies I)
Apaltmelll 1, L'Etolle Oe Mabe -t45 (Series II) Gro1.1nd FloQr, Ca-..stal Road, Ale en Flac, Mauritius.
2 QUANTUM ADVISORS PRIVATE LIMITED IN30047642963178 4 rSeneS I) 153·8, Millal Court, 15~ Floor, 3 (Series II) Nariman Point Mumbai-400021
3. GRAY INVESTMENTS PRIVATC LIMITED IN3015493095Z7:14 3(SeMes 1) 312. oe1ama1 Towets, Naflman PolOl 2{Secies II} Murnbai-400021
4. G: CORP DEVcl.OPERS PRIVATE LIMITED IN30154939408269 75 (Series I) 406/407, 4~ Floor. Traie Worid, ·a· Wing, 50 (Series 11) Kamalii MiOs CoffillOUlld, Lower P.aiel. Mumbal-400013
TOTAL 12.50
(II) As on the date of execution of this lnformatio11Memor.indum
SNo, Name Number of Debentures (Issue price of Rs. 10,00,000 eath)
t Primary Oebt Investments 668 (Series I) 445 !Series Ill ·-2. G:Corp Developel'S Pnvate Llrniled 75 (Series I) 50 lSertes lil
31 Gray lnvestmeolS Private Umiled 3(Series l) 2[Series Ill
,4. Quanlum AcMSOls Private. Limited 4 iSeriesn ,.._,,,
Pri'vate and t;onfidentlal - fO( Rdy1le tltelltiltlon onfv
.______.!.._ j 3 (Series II)
E. The emourtt of corporate guarantee issued tiy Ifie Issuer along with name of the CQUhterparty (like name of the, subsidiary, JV entity, group company, etc.) oo behall of whom It has bee11 Tssuod. (If a'I}')
.NIL
F. Petalls of commerc1a1 Paper.
Tha total Face Value or Commercial Papers Outstanding as on the latm;t quaiter end to b& provided and lts breakup 1n tile fOllowlng table: (lf any)
l'amuji§#lii "
G. Details of rest of tile horrow1ng (If any Including hybrid debt Uke FCCB, Opllonally Convertible Debentures I Preferencl! Shares ) as on Martb 31, 21?15:
It. Details of an defaull/s andfor delay In payments Of interest and principal oJ any kind of term loans, debt securities and otller financial lndebtednes5 Including c-o.rporate guarantee Issue<! by the company, In Ule past5years:
Nil
I. Detalls of any outstanding borrowings lallen I debt securiUes Issued where taken 1 loued (i) for cnnslderatlon other tha11 c:ash, whether in whole or part, (II) at a premium or dlscoun~ or (Iii) In put$uance of an option:
NIL
4.10 Oetalls of Promolers of the Company•
A, Details of Promoter Holdin9 In Company as on latest ciuart<lr end, l.tt. [)e(;ember 31, 2015:
Nd. Qf
~a "'jlfU 'Qeld Ill Oem.i tqnn
Ii. G:Corp Developera NIL 10 NIL Private Limited
4.H Abridged vession ol the Alld.ited Consolldal$d and Standalone Financial Information it1ke f>roflt and Loss statement, Balance Sheet and Cash Flow s~\ement) ror at least last three ye"" and a.uclltor qualfflcaUons, if any.
Pilviite.a"d Confident[al,-for.,privatedraulatii:>n onlv
Annexeo al Anl\exure IV.
4.12 Abftdged V~lon of Ute$\ Aua.ited/ Llmi\ed Reviaw Half Yea~y Conso[lilatell .and Standalone Financial lnfoTmallon and -auditors quallficat1ons, if any,
Annexed al Anne:ture IV.
4. 13 An~ milted al event/ development or change having inipllcatlons on ·the flnanclcds/ credit quallty (e.g. any marerlal regulatory proceedings against the lssuer/promol!!l'S, tax lttlgaUons. re5ultitJg in matertal liabilltles, CO!llOtate restruciuring event etc.) at the time of Issue whlc11 may alfecl tile issue or the inveslor's decislon to inve$t / -colitlnUe to Invest In lhe de~t securittes.
n1e 1ssu~r tiereby doolares lllal thefe has Ileen no material even~ develclprnent~r Change at the: tim& of lssu.e from the posltioo as on !00 date of the last audittl!l financial slatemenls oflhe. lssller. whit:h may al!eo~the (ssue or tile Investor's deciSioA to "invest! con!intte to inveslin the debt se«.~rities of the 1lssuer.
4,14 Names ottbe Debenture$ Trustee and Conse11.ts thereof
The debenture trustee ol the proposed Debentures 1s Axls TnJs!ee- Ser/ices Umtted, Axis. Trustee Se!Vicfls Llmileii lias given its wntlefl consent for ils appofntmenl as oeoeriture f11.1stee. lo the Issue al'ld incluSion of its f\ame !h the fe(m and rontext rn Y/liicli it al)pe<irs "' this rllform-a!fon Me(llQfaJ)~Um, The consenilettet from Debenture T1t1stee is prcovided fo ,Mnel(l.lre II of this Jnforme6011 Memoronoum.
4,15 Credit Rating:
The Rating Mt!nty has assigned <' rating of BWR 8 (Ou.tloo~: Stable) In respect of !he Oe)>ent\lres, 11\Slturoents wilh this rating are considereil to have higl'l risk of default rllgarding timely serv'\bin9 DI f!nanci<ll obligallon~. Ple<IS!l refer lo Annexure I of ll1is Information Mernorafldum for Ille letter d'ated January 6, 2016 From tlie Ra(lng Agency assignt119 the credit rating aboVementioned, The Rating Agency plilbfisties the rating 1<1llonale at thek web-site.
lt.16 II ihe secttrity ts backed by a guarantee or letter cf comfort ot any.otl'ier clQ<:ument J lettet with s1111Tl~r J11ten~ a copy of the same shall be disclosed. In case.such dbcument does riot ct>ntaln detaOed payment structure (proceqUre of Invocation of guarantee and receipt of payment by the h1vestor111ong witll Umeilnes), the same shall be disclosed fh Ifie offer do~menl.
N.A
4,n Copy of con,senl Fetter of Oebenture Trustee 'o act as the <lebentl(re trustee to the issue to be dfsalosed:
Allached \o tl\ls lnlbrrnattOri Memorandum in Annexure II
4.18 Names of all the recogniZed stoclt exehang&S where tile debt securities are proposed to be listed:
NCOs shall be listed on WOM of the BSE wllhin 1 S days from !lie Deemed Date of Allotment
4.19 Other delallS1
A ORR Cteat1011:
tltly ate and Conflll111lfal - rot Dlttatg cl1cu!4lkln onlv
"5 pet the provrsiGllS or lfle Acl, reatt will1 lllti Companies {~are Capital ii/Id Oebel1M'es} Rules, 2014, ati)I wrr1r.mv that mtends to Issue t1eb81\tu1ilS must create a debe!11111e mcrempticm re~rve to wmch adeQuale amounts stiall be credited out o1 the profits of the ~Y available for payment al dlVldeM't, S11C11 ORR sllaU be equilloloot to el le!i$t 25% (twell\Y live peroenl) or S\.lch 9ther pttrol!ntaQe as m~y :ie p;escJibed under appfuabte law of the amount raised through the debenture Issue \1&!0111 ilebent\lre rede1111>!1on COrrll'l1enOeS. Puisuant 10 the Sl!O 1J10oJis1ons, the Company shall c:reato resefV8 funds for tile it.'<lemptlon of the Debentures
B. ,Issue I Instrument specific: regulation!!!
The Issue of Debentures sllall be in oonfomllcy Wjlh the applf0Eibl11 prollisions of the Act and lhe SEBI Debt Usling Rogulaliotls.
c. Appfieat1011 ~us:
The applica1ioo process for the Issue ls as provided ln Sec:IQ"n 7 Of Ulla lnl01mabQll Memorandum"
t20 tssue Details/Summary T tm1 Sheet
Security Name {14.25%GCofl)SpacesNCOSeneslll2Q251
Company GCo!l> ~Private Limited Type or Instrument No1t-Ollwatl~ Debentures
N;ture of fn!trument Fu~y pailJ.. Secured. redeemable, rated, listed Senlonty Seruor. subject to Cla\158 5.60 below (fwther OOrro\\'lfl95 by l/1e Company)
Mode of Issue Private !)lacemenl
Debenture Trustee ~s Trustee Sel'\llces Limited
Eligjble Investors Refers to such category al applicaflls referred lo in tile list below' ( 1) N0Mlallk1~ Mallaaf comparnes, (2) ~ral!!Si (.3} Banks; (4) Foreigopel50ns lo IM extent petfflllted by ~pliG-able law, (5) Foreign lnstillllblat ln.ves!OA (Flt!>) and sulHK:oounts thereof, Ou9lllled
~Oleign fnveslors (QFlsl andl 01 registered forelgn iportfolio <nvesto1s {FPls};
~) lnsu~ Compatlies; I ltNeSt'ITiellt holding i:empanies of, hi9i'I net worth lndfV!duals; and
(8) Aay «.'let pe1Wn eligible tcr invest lh the Oebenlufl!S in aaioidi!ooe With apl)foc:able 1aw.
Usting Pro~cl in be llSWd on the WDM of SSE WMln a maximum period of Is (Fifteen) days frorn tile· Deemed Data of Allbtmen1.
In the eve11l 11r 1114 Company's !ailile lo list !he ~tur&s on 111e WPM s&gmfll\t o.f SSE Within 15 (Rfteeni days from t'1e Deemed Pate ol Aliqtmer1t, ~ll$ller $hell !rnmedialely redeem any and all Debenlun!S. -
RaUng of Instrument BWR 8 (Outlooll ST.3ble) (PfOOO\lllCed as Bri'ckworXs B l'lt\ll stable outlook) by 8ri¢kwo;i(s Rati~s India N. Lll1 ilt iespect of 'Ille Debentures, lris!rum&nts With Uiis raq are COO!iidered to have high risk of default fe\lan111l9 tifll91y serJlcing o( linanc1a obl19atio11.~
lssuoS!z$ Up to i'ls. 50,0(),00,QOO/. (Rupees Fifty Crores Only)
Option to retal!I N..A
,,
'
eriv.ate and Contlilentlal-!01 plivato drculatlon only
oversubscrlpthm ..._ Ob)l!cts of the Issue To acquire land i!lld ior lntefest In land In and around Be119al\lfU ~d
.... llevelopment lliereof,
Detalls of I.Ile Tha proceeds reallted by the Company fro1'11 ltie 1ss0.a11ee of the Oebe11tures , utlllzation of ~he snail be applied exelusiVe~ by !lie Company for acquisition al' land and I or Pr.o~etjs in~rwi in lalld ariit <!e!Jelopment jliefOOf.
-- --Coupon Rale t4,25% {Fourteen Decimal Two Five Per Cent) per annum simple inter~st payable quarterly 11osl moratorium period.
The basls for llie Coupon 'Ra!? iS (<> keep the same Jower llian the SBI a.~ Rafe fas on the aate or Issue} plus 500 (!Ive hundred) ba$!.S poi11ts. As per the press release da~ September 29, 2015'tssued by the State Bank of India the SB! Bas& Rate curreiltiy is '9.30% (Nilie qecitnal f)oinl T)l~ Zerii pereetil) per annum with effect from 0clober5, 2015 0r11)'1n ease of any rev'JS1on1llitne SB! B~ Rate as on !he d.ate of tss~e, th~ !i!Oilifie.d coupon ra~ stian be communii;ated to the final allol!ees. -Step Up/ Step Down N.A
Coupon Rate
Moratorium For a perfoo of 24 (T1>1enl)' Four) monlli'S l tom Y1e °'*1med Date of alkllrtient i.e. Ull January 11, ID!61 tttere .sllaJI be a moratorium ori payment oi !h!erest arid no p'3yment sMll be requJrtlll IP be made ln relafion lo oou:pon. lhougti al)CIUed; provided !hat the C001paoy may, a! i'ls dlscretio~. pay o'UI the illterest earlier lri aocQ.rdar.ce with Clausa 8.9 below.
---~
coupo11 Reset NA Process ·-Coupon Payment Quarterly, payable on I.he Coupon Payment Dates Frequ.e11cy
Ttie firs! (l{)tJpQn 1iflan be Jla'yable for a period slzjlng from 1l:1e Deemed Date of Altotn1ent trll the ood of the relevant Financial Qua~er. Thereafter, the CoUpofi shall be calculated ~11d pa,yable. 011 a qu;i!Wrfy basis.
Co11oon TYfle fj~e(l Ra\tt -· Coupon Paymefit UpOll expiry oi Ille mc~toriw11 period, tl1e Coupon for a particular q1;1arter sliall Ollie& be payable on or before the filtti day of tile n~Xl Quarter. The ·ft!SI l;n\JRQt1 sball
he payable fot a period ·startin.Q fmm January 112, 201& un lite el'lll of the relevant FrnanciaJ QUai:t.er and paid ol) Of be tore Apri~ 05, 2018,
Thereafter. ·th& Coupon :S~aU lie c<iloula1ed a!ld ptiid Qn a qtt~rl.erly basis on or before the fifth day oNM ne:i:l F,lnancl;ll Quarter, ?S more particU)arty seJ out in the table below. The trneresl accrued on tlle Debanll!res during tile mtiralortufl\ '1eriad ml!f\tlti!IOO ab()ve sllbjetl to Clause 5,9 betow w1tl be paid to !he Debenture Holders by tl\e Company over a pe(lod of two yeal'S from JanU?tY 12. 2018 . .Aceordlngly, in ~ e11e11t tllat Ille Campany-MSl1es, i'n ariy pafllicular q•Jarter, !O pay all or any pall nf the: 1interesl a'ooNed during the moratoa\im period, the amou~t of illleresl psyable in sucn pe!\Od may tie more tluan the ;in1ou1US meniionoo 1n ihl? table below.
Casn· flow~ Coupon to be No. of Approximate paid on or days. in the COll}/On Qn Rs.) before relevant
coupon ceriod
-
27
Prjyale and Gonficientlat-fot pnvate circulation onlx
I F'ir$t CouPon Thutsctay. 79 30,8'12.00
"°"' s. 201a Second Ci>upon Thursday. 91 35,527.00
JOIV5. 2018 I Thill! Coupon Fl\dey. 92 '35,918,00
October5. 2018 FOUl1h COtlPon Sat\lrday, 92 35,916.00
JanuatV~19 Fillh Coupoo Fril!ay, 90 35,137.00
Anrit 5 2019 Sixth Coupo!l Frtday,
Julv 5, 2019 91 ~Zl.00
Seventh Coupon Saturday, !l'-
35,918.00 Oclober S~ 21119
Eighth .Coupon Sunday, Januaiv 6 2020 fl2 '35.918.00
Ninth Cou1>t1n Suooay, 91 35,527.00
Anni 5, 2020 Terill\ Co\Jpcn SW:lday,
91 35,527 .. 00 July 5, 2020
Eie'ie!tlh Coupon Mo~. 92 35,918.00 Qslober 5. 2020
T'flelftn Coupon Tuesday. 92 35,918.00 Januarv~. 2021
ihllteenlll Coupon Monday, 90 35,13700 Aoril 5 2021
R>urteenth Coupon Monday, 91 ~.527.00 JUJ\15, 2021
Fifteenth Coupon Tuesday, 35,918.00 05 Oclober 92 2021
Slxteenlh Qiupon Wednesday, 35,918.00 05 January 92 2022
-Seveoleenth Tuesday, 90 3fi.13'T.OO
Couaon 05Aodl2022 -Elgh~ Coupoo Tuesday, 91 35.527.00
05Julv 2022 Nineteenlh Coupon Wednesday, 35,918.00
05 October 92 2022
Twenllelh Coupon Thursday, 35.918.00 OS January 92 2023
Twenty RISI Wednesday, 90 35,137.00 Covoon 05~2023 Twenty Second Wednesday, 91 35,527.00 Counnn 05 Ju!v 2023 TwentY Third Thursday, 35,91800 Coupon 05 October 92
202l Twenty Fnurtn Fricfay, 92 35,918.~ coonnn 05 Januarv
28
Ptlva1e and Confidential - fol private cfcclllaii'on_ only
.
2024 Twent): fiflli Friday-, 91 :15,527.00 Cou~on 05 Anni 2024 fwe(lly Six111 F1iday, 91 35",521,00 'Coupon 05 Julv 2024 Twe.nty seventh Saturday, 35;9t8.00 GoiJpon 05 Odober 92
2024 TWEnly Eighth Suoday, 35,91800 Coupon 05 Jat!Uart 92
2025 - 10)()4,685.00 P11nelpa1 + Ad:nJ.ell Su(lday, Interest 12 Januai:y 12
2025 if'otal 19,98,670.,00
'If the company , al any ll!ne prior to l!ie Final Redemption Date. eleels ta e.xei'olse the ~" option a~ more parliculatly se! otll herein, to redeem the Oebenturell 1n Ml or part, Ute taole above shall not be. 'IPPlleable.
Day Count 8asis Actual 1 Actual i.e. Aotual 1365 days (or'366 days in tne case or a lea_p year)
Discount at which N'.A. security Is Issued ana the effective yteld ar. a resul1 of s~Gh discount . ln!erllsl on Nb iiiterest:shall be payable-on the application mooeys in itie event 11\at ihe Applicatlon Money D&ben\1.ire Holder has remitted !be ·appljtation ni'Onies pfior ~o the iOeemed
Date of AJl01m1mt -Default tnterest Ral~ Upon the oocurrance of ariy Event ot Defa.ult, Without prejUillCfi .lo any Qthef rights and I or 1ooouraes tllat. the Oetieoture Holders m.ay liave against the Oonipany under law or~Uity, tile Company sttall pa~ Coupon 1n rel"f!liOn t<ltl\e OebenliJres at the rate ol 2.% (Two Per Cent) per mooth over ltle Coupcn Rafe oompO'Jnded mortlll)Y. Whilih 11\cludes nomia1 CoiJpon pay;ible on .the. Oa~tures, for the pellod commencing from lire dal's oo which tile Even! of Defa\llt has oca.rrred. and e;cpjling on the da\e on which such Evetlt of Default is cured. -
Delay in llilfng 111& Company underlakes IP ensure that the Debentures are listed on the WPM segment of BS~ within 1 S {Fl~en) days of the Deemed Dale QI Allotmenl. In Ille event of Iha Comp~my's failure to li$J lilt! DebMtures OIJ the WDM segrnenl of SSE williin 15 (Flftee11) days ft()m the Oeerne\! Date of A1rotment, t11e Issuer-sh.all immedi;l\ely r.edeep1 <my and alt OebenMes.
Tenor 108 (O~ t1WldJ'eCI and eight) months from the Deemed Dale of AJlalmenL -Fihal Redemption Januai)' t 2, 202.5 Dale Rede111ptlon Amount Tlie Redemption Aroo1mt, payable ilt any tJ'ma if\ accordance with lhe tef111s
oontai"ned herein. shall be Ille <,Mregate ot ~) the principal amount of the Oe!lanb.lies. then ou~tandl11g, (i~ any C.0t1pon payable on the DebE!lltur'eS, !hen ouis1anoing lif aryy);
(liQ any Default Lntertis~ ii any, tlue and lieY<lble Qn· the o.®entutes; and
Priv,ateaod.Conlidential~ for pf!val.!l ,lrculal!on only
(IV) the Redemption Prernl\lm, if arw, dU.e ano ~y.able on ihe Debentures, Redemptlon N.A Premium
Issue Price Rs, 10,00,0001- I Rupees Terf 1.akhs OnlY) perllebe.olure
Oisoount al Which NA security i$ lss1.1ed and the effeetive yield ~s a result of such dispount
PutOptron Dale N..A. Pul Oplron Price N.A. Call Op~on Date No SReeifled dale; ~ b& detem1nelJ tiy thl,l Company by giving a 110.tioe m
writi~ to llie Debenture Tr1i1streat leasl 3Q (Thirty) days prlor 10 tt1edate·on Which the Company Pft!poses 10' redeem all or pan of il\e Oebenlures. proVide<I, however that t'ellempb'on f!)r Foreign Portfolio Investor stialt not happen before the expiry ol p1;,nod of 36 months from trie Deemed dale of allotment -
Early Redemption Subject lo applicable law, and tlieavailablli\y of sulplus cash in the Coltipaoy, The C0mpa:ny shall be enttiled to prepay the Oetientures in such irtstallrnellis as ii may tJeem fit, b.y giVing a nouce in \Vlltiog to Ille Detie11UJre T l'i(Stl1e at least 30 (T~ifly) days prior !o the date on whid1 the Company propo.ses to red!lSm aTI or part of ltie OetienWres In 1hll man11er aforesaid, prmfx:led, however lhal redemption fot foreign PmtfQlio Investor shaTI rl<!I ti<11>Pen befofe the eiqnry of peoo\l Of 36 monlils from the D~ date of aflotmeiil.
Pre.•payment Penalty NIL
Call Option .Price At the Faoe Value
Put Nour1cation Ti.ml! NA
Call No!lfi'c a.tlon 30 d:ays prlor ~ the <lats 011 which the Company proposes to re~eam all or µarl nrne of the Debemyres ~-face Value RS. 1Q,OO,OOQ/. ~pees Ten Lallhs Ori)'y} per Oelle!llure
!c Minimum App~lcation 1 Oebenture and 1n multiple ot 1 Qetieolura thereof.
Issue Opening Date January 11, 2016
Issue Closing Dale January 12. 2010 eay•fo Date Januaiy11, 2016 and' January 12, 20t6
Deemed Date or J11nuaiy12., 2016 Allotment
Issuance mode of OemalonlV th11 Instrument -trading mode of tile QemaJonly lttstnime"t --Settlement mode of Ctreque(s)I Olrec\ CredlU electronic cfearing services (ECS)lcredll throt.Jgh tl\e lnstr1Jtnent Rl'GS sys!emlfunds IJ'anSfer
O~ositorte.s NSDL Business Oa.y ,jr any Reoemplion I CQupon Payment Dale falls an a day Iha~ i$ not a Wo!J(f"fl Conventron Day, the payment ~hall be ma\]e an Ille immediately suizeeding Wotlling ·D<IY
as agreed w11h the lfl'@lors,
PnY:atll and OonlilienQa!-for pn'vat.e etrrulatfon only
l'lie Coupon fer a particular quar1er is payable on or betire the liM day of the neXt quar\er. .ocoordingly, s.il1Qe l)ie Couixir Payment Date is. OO! a single specified aate. the impaet ol noli~ays on payment of couponr stian stwicJ l1lJtlifle.a
Record Date The dale Which will be used for deterrtilnlrig tile Ol:J~nMrt ;itild:ers Who Sh!\il be enlilfed to reoeive die amoun~ due on ant Redemption Date t Early Reden1ptl0fl andig.i coupo~ l)ayment d11te, which shall lie lM ;dale on '(llliol\ the latest report iias been ~tved from NSDL poor lo pa)'rr1en!.
SeourJty lrtte:test 1. Arst ranking mar\gllge on all tllat piece arid parcel of oontig,uous 1m1alga111a!Sd land .,f Koramangalll Tormlng part (If !ha BOA approved remo~lfied resldenual layollt ill site Nos. ~ 14 to 1as, SH!'.\OS lJ!yciu:t. Srinivagllu Amanilcere , B~gur 1-tobli, Bengaturu South, aggregating lo all ~rea of abQIJt 2.G2 a~res \eQUivale11I to 8, 17&.AO Sqlrare mell!ls) (the 'Mortgaged Piemlses' ) (or the benefit o1 the Debenture fru§tee ai:Ung for tile benefii of tt\e iDe'ben!utll Holders. su~1b' to all4 in accordance with tile pl'Ovisions set out unoer Olallse 5,a be w and in the D®e11ture Trusl Oeed; arid
-2, Sue~ other reeumy as may be provided 1o Ille O'et,enrure Trustee in compliance ilf the Trans action OOCl.lmeols
The Security' lnflmlsl shall ~ created ~itl'\ill a peP)cx! of 60 (sJxty) days from the Deemed. Daie of Allolment
NoJWilh$1anding the foregoing1 in the event !llal w0!1<ing cap1tal fao11i!ies ate availed by Uie Cornpany ag1Jlnsl security of lhe Mortgagei:I Property. tile C<lmpaJJY slls!J inform \lie Qeben[\Jre Trustee or t11e .same, and snall ensur& t..~al t/u; Soourlfy Cover as. e~vtsag~d under Clau$'e of ttte lnformatioo Meft\OrtlrXfulll is ms1nt.ained at a0 fimes during the 0011tiMani:e oi such Wodcing captt.al faci1ities. In lllis regard, Ille Company MlaJI alsu prolllde the Oebe11llJre Trustee Wltti ~ ce,rtffic3le duly sf,ghecJ, by me statl.ltory auctilo• Qf 'Ille C'Qlllpany.
Further. ro case u1e company avails of any wortit119 eapital fac~ities .as stated ia the parag//ll!Jti above. ltie cl1ame created tn favour ot '!tie Oeb!!11tur& Holders shall he automatically ceded in iavaur of sucl\ bank ct financial j11stituiJo11, Whether l:iy way Qf a pari pas11u tlla(ge of a ffrst ctiarge, as llooid,ed tJY the Campany an<i till such time a:s the fitia11Clng facility obtained from such bani< or financial instillltion is repajd in tuJI, i~e charge of dte-Debe11tuf!l kofders .shan be a first and pafi pass ct (;t\atge Of a-~eo.o~ Gflarge; ~ applicable.
Tr.u1sac:li1m • Qeb.anture T'rustel} Ag,reement; Documents • Debenture T ltlst Deed~
• Memorand~m 9{ Entry recording Ille dep()sit .Of title d~ in respec;\ cfUJe
• Properly Wiili the Delienlure nustee; and Any other dor.umen((s) ~1niilh :may be <ie!iignaJl<d as a Tr.i-nsaction Document
Condilions As customaiy for transac\ion of a simnar nature aml slz.e irioluding but not Pieeedent lo limited to !11e f011f)Will9 0011dfll(ms: Otsbursement. 1 finalisation o~ the tnformatto11 Memorarnfom aod el(etution of tne
De~nture Trustee. Agreemenl and pr-oviding ttlpi~ of \he sams to the Oellenture Holders:
2. Sui;h other UlidertillliriQ as may be requlrect from ·\lie. Cocruiany 3 A e111tlfiad trJJe wopy of the toostltutloosl doc.uments (Jf 11w Company
-(beln§ its memorand1.1rn of association, artic;les of associ11tio11 -and
31
1'6vate. am! Confidential- lbrplivalac.lrculafton on!~
teJtillcate of lnoorporation) cerlffied as ~rrem as on a date r,o earti!lr l!lan !l'le data oflhls Oeed:
4. The Company s!lal! !lave delivered to the OebenltJre Tf\ISlee: (a) the cerlifiell copies of the Co111pany'soo11sUwlio11al dQet1111e111s: (b) ttii:i cerbfie~ copies cf the lioanl r:e.s:ol\JOons dlllY authorl2JM, the
Companr- to fssue l!le Oe~ntl4~s a11d exeoo\& \he rnmsactiOn l)Jcuments .and undertake Ille obli9ations stipJJlated lhstei'l,
(o\ the cMified oopies of lhe !ll'flll\ll!Qlders' resoMlof\i amt (O tile ca11Jfl0Elle" lss:ued by the Company i::erllrylng tha( the
borrowings are withlJi the limits sandioneo by !tie shareholders or !he.Company.
5. $UOtl other docum~t .as tl]e Oelltinlu('e nus~ (116}' reasonably requJre, lhe Conrpany s~all. vpon cornpte6on of lhe Condlooos Prec;edent, ptovlde a l~tt:er lndicadng U1e same \o the. Deben!~re Trustoo .__ ______ , -·
Conditions Sobs~uiint to O[sbursemerit
Delay \n S(l{;urity Creation
1, Execution of Oebl!nture Trus( Deed and erea.llon of die m.mgage on tlle Pt"Qject as well as firsl e11ii19e on (he Project Reteivalites by way ot ~n equitable rt¥lf\9age. lviiliin ~p (slx!y) days 1tolli 11'\e Di.!emed Dale of Atkitment.
£, Stieh comlltitms as are custom;;~ to a hnsaotion of tliiS naWle. inci!Jdirig filing of relevant f(lrm wdh l11e reg)sllar of C10mpamas for the PUfPllse.s of tirepfion of c~a~e.enVisiiglaj uoder ttre 1(<ln$aclion Oowmenl$.
3 Issue, snail do ille tislitl@' ortraise NCOS Wilhin ~ S (Filieen) days from the O~emeo Date Of Allotment
4. $ubmission· -0f a copy of the Deberrtt1re Trust Deed withfn 60 (Sixty) Bus1o-ess Gays from the Oe~d Date of Allotmenl
In case. of <!¢lay in .e:teoutjori of Derenture Ttus't Olled and, SilCtlrlty documenlS, Ille Company Will renmd ll\e .subs.cttption with agJ'llel1 r.itB of interestoi Will pav penal in~rsst of 3% per e1111um over the coupon rate till tile 001Jdltions are oomptied with al tile optioo of the Oebenture Holdeis. ,__ ______ .__ . - ----1
Events Of Default The events ~sted below (each, an 'Event of Default') shaO oomprise the E\tents ol Default' lo 1elatlon fo the Debentures aoo shall be a:pprtiprilltelY set oul in Uie T ransacfion 09Cuments.
A. Maletial default Is coromitred by tile Co!llpany in the ll!lrfar:maoee or obseJVance of ally eovenanJ, condilioo or provision contained in lhli :ftansaetion Ooc1Jments eXlltlulecl ~t ~ Company in respect of lhe Debei1fures or a rnatenal no11.peff0rma11ce. mawrial !\Oil obsBl\latibn eif aoy ooi/anant condtfiGn bf provlsl.on ef Irie Tiansac~on DGct.1me11ts.
B. Non.paymentof monies due Wm (i)Jle to lfme tpwalils prfncipat and/ or interest paya~ll! ln (esped of the Debentures and StJch oihP.I am0ttnts P<lYable. as ~ the te£jlls or tlle T rtinsactlon Doauments. P1oviaed liowever that if the rnonieS pa~ble. as inte~t is pald wl\hln 30 lThlrt.y) d3ys from lhe COullOI' P~ent Daiei till! S!Ulle s~all 00U:1e aJJ Evenl·of Default
C. Maierlal breaeh of any representations b.y lht> Company. D. The Cor11pan~ ~ilS1!S lo r;arry oa ils b\ls.loes!> ·Or gives notice of iJ$
intention lo do so. E. If ttre Coinpar.zy ls uttable lo p.ay i!s'de.bts Wittlin lhe mea11i119 ot Sectioo
·434 of the Ad or if the Ce111pany a carrying on business.at a toss and it appeais io !he Deben\\lre Trustee Iha~ C011linuation of its busif\ess will endanger ine S'eeurify lnteiest oreated in ierrns -of tlis 1 ransaob'on Doc;umems.
f , If the Campany is in mate11al breaoh of !he Transacilon Documerlls or aliena.tes the· Secl!Ji!Y. lnrerest in Ml or part, or Gre~te any security in ihe
'----------'--~~
i'!!Xtturd Confidanlial-for Pf!Yata t11l!llllilf10n only
MO!lgagea Ptoperl>' In faVO:Ur of any Oiiier Person (el(Cept as per the T~mtiOO DoclJlllenl$). Witllout the PflOI Wlitten consm\t of Debentura Tru,lllO;
G. Ocoummce oi e Ma1erial Adverne £fleet, in the opln.lon ol the iOebentura TlllStee or sud! aumber of Debenture Holders- .as 81'& iequlred to pm an Ordl1181Y Resolution,
H. Jf"any part of the SUbsc:siptiOl'I· Amount is used for any nlegal JlUfPOS8 I, ll'lSO!\leoCy l)ttoClel!(lings.
Any C!ll)lOl'SU! action. legal proceeding.s or olhet pcooodW8 or step Is taken {muding 11\11" maKing of an awlk:ati0l1. ltle pie-.el\latloo or a pe~Wi. the filing or !i61V1ce of a oo!lce orthe p;iss1~ of a rosofutiooJ, in refatton lo:
(I) I/le .suspensiOfl of 11aymenll, a mor..tcmJm of ar1y indebtedness. wlndlng-'U}t, insolvency dlSSO~llOn, atlmlnislratlon or reo<g.ant~allon 01 IM Conii>a~ Willl an rn~flOrJ of winding up or 11quldaJmv w dectaJ\ng iisolvent the Company. (l>Y way of vol\mtaiy eir;m~ment. S'lhme ofammgement orothe~1!1&); or
(it/ a oornl)O$itk>n, oornrxomise, as&1911mtM\f or arrangement l'l1tt1 ai1y creditor of the Company: or
Qil) tl\e apPolr11n111nt of a llqu,dat1J', ilJl)!lf'llsor. re<:eiver, admlnistrafive f€Ql!iver, 9dml11l$tratof. ()OITlpu'.sory mairager. tM1ee or other similar offioer in iY?spect of the ~rrojlally or any of Its ~ssets, am such ~ntment has Ml been vacaled or tias not teen ctiaflengeti by the Company, or
(M any analqgous procedure or step tal<e11 In aiiy oU1er jlll&dlcilon. J Any expropriation, atlochmeni. S$(lvesiratib:I, distress 01 eJ(ecution
11ffects any asset of the Comf)811y. It Sueh olher events of default as miff be contained In ltie irar1s11otlo11
Oocuments.
Upon the happening of an EverJt of Oefatill, .U,a Oebenlure rrustee shall Ile enlltlet.1 to exeltilSe MY artd all reme<Jies 111 accordance With 1M lem1& i;oqtaine.d 1t1 Ill& t ransadion Oocume'nts.
Provisions rotated to N.A Cross Default Clause Governing Law and Jurisdiction
~ Debentures and: l!ocumenlatlon will be governed by and liOllSlrueci rn aecolliance With the laws ,uf India and suQject to Jne Tr.ansactJO!I Documents, ttt&wirties submit lo Ille exclualvv Jim'sdlction of the COllftS In Mumbal
-- - -------1 Role and Tfle roles arid the responslbilllles of the Debenture. Trustee Include bul aNt ngt Ruponsibililies Of m111lad lo the SEB! OebeJJt.ure Tl\IS!ee Regulations, Companies Act. 2.0t3 and Debenture Trustee the rules framed ltleie<JJl\lef all> f11!1hel ~lout in tJ:le Oeben(Ure T!\1&1 Oeell r-~~----t-~
Debenture Trust In case Of any lnconsisrency retwe6n this lnformalion ~um and llie Deed to Prevail DeberlllJro Trust Deed. the provisions or Debenture Trusl De.ed ~ p1e'/all
and lnilrm8"°" Memora!lduro to be reart fn 0011j\Jnction will! 1!16 Oellllnt.11re 1Mt0eed.
l3
P.riv.ataand. Oonllclential·-fot pi!Vate chcU!Atlan onty
SECTION 5! TRANSACTION DOCUMENTS AND KEY TERMS
!i;t T raos~clion Documents
Ttie follow1og. documents shall bl! expaUted '111 relaUon to ihe lssua("TransaeUon Oocu01Mtsi :
A DetJeoture T[Usree Agreement, which will OQnfirm tne aptiornln)ent o! AXis Tnisiee Serlices Limited <l.S Uie DetienUJre Trustee ('Debenture Trustee Agreement');
B Oebentllre Trust Deed, whloll will selout the terms ti~n which t/le Debentures are belng i:ssued and shall Include ihe representations and warranlfes and the oovenants to b6 p1ovided by the Issuer and wllicll will co11fiflll !lie app_oih11Pe111-of AXi~ TMtee Servi1;es Limit® as lhe DetlenlLJt& TN~tee, and wherein mortgage I charge wi~l be created over tne Mortgaged Proi:ierty and th.a Projeel Receiva)Jles ('Cebenh.lre Trust Deed"); arlU
C. The Melll!)randum ·of Entry recol'Qin9 the deposit of title deeds In reJaUon 10 the 'P-rt;parly wilh Ille oebenlllie f rustee;.
D. Suen 9ther documents-as agreed between U\e Issuer am! the Debenture Trustee.
The documents stian be executed witliin suCh time peflOCI as mentioned in the summary of issue ta~ in &dion 4.20 of tHi:s lnflltma,lion Memorandum.
S.2 UUJl.zation of tlie Issue Ptooee~s
The proceeds of the 1ssue will be u.self towards acquiSltlon ol land and l or inleres1 ill land In Koramangela 111 Be~galunJ and cte:velopmeo! lhal'\!af.
The. Issuer unde.rtak-es tnat the detail$ of ~11 monies uliJIZed I unutllite<! out cf the Issue shall be made availabl& 10 11\a Debenture i ru5tee. as and Mien requested subj~t to a pl')or reasonable nollce m \/lwregard
5.3 Representations 'ilnd Warranties of the Issuer
The compariy wifl prov1de repr\!sl!ntetions ;ind warranties in relation to the issuance, as is eusipm.ary for a transaction of lhls nature ai1d slt.e, aad the sam& wnt be 11apMed itl ttle Transaction OQQJmenlS and it Will also include the key repl'l!Sen1a1ions set O\lt herefn. ttie said' repre.<en1atii:ms and warrantfas shall oonftnue tQ remain true and W!fitl duriog tlie !entire. of the !Jebenl!Jres and In the e~ent that the Company Is aware of any ciltlUlllsliince whtch could orwifl resu~ In a breach Qf1h.e same, U1e Company shall tonttwitn bn'ng \lie S!lfllrt ·to the 1101ite of life Dellenlllr.e Holders.
The Gompany hereby rep~ls and wamints wi:t!J reference lo lhe ·facts ·and olrellmsl;lnoes as on \M d<1te l\ereot
A. ll is a company, cfu(y inCllrpQraled al\d validly ex'!SUnQ underltie law of ils furisdic6on ofinCC!poraflon,
B. The Company has lf'te corporate power, authoi1~ and <Ill mate.rial permil$. :approyalS aulhorizatlMs, licefl!;eS, reglstlariort,s, ;wl eimsents Including re!JIStratillns. \p•tiwn al'ld operate lts as,sefs'tlnd to carry Ofl its business ln substan1ially the same manner as it is currently condOOled.
C The- Compaey is i11 compttia~oe with all laws fsr the perto1mance oi its obl1gatitli\ \iiilll re$P®\ to \Ills lsstJe ilS set out i~ the Tunsacllon Oocuments.
)
D. The ·compa11y has the lejjal righ~ power a.nd auttioritY 1n 1mler Into, deliver and 1Jerfami tne Trans!1ct~1 Qoeumenls an~ all oll1er documents and -instruments required IO ~ eJ<:~tecl pursuant thereto or m
t-~
Prj\tate and Confiaenf!aJ- lor prillat~ eltGUJa!ion onty
cooneotion tbereWith, and such dO(;Uments, wht;rn exec~teil, will eonstllu~ Valid and bindln,g obliQaUons a/111 be enfo~able against the Company and Ille. Promoter ill aooo!llance' With their (espettlve terms.
E. The' GQrnpany represents that an consents, ilnil ac-t!on$-of, filings Willl and notices to any Govemmen~I Authorl\y as may bi3 required to be-obtained by the Com pan~ ln ;;;onneotisn with Iha e~ec\ltlon, delivery and perfoff!lance tly the Com[Jl!n'.f of the Tra11saotion Documents have. beer1.oblained
t. The el\try i~to1 perfPrmallCe by !tie tssuev of, and t~e lransacllons ccntemplated by, tffll T rahsa<:fibn 'Oocu.m~nts IO'Whfch it ls e party do not.and win not eonflfctwilh:
in
(ll)
(Ill)
Its oonstiMloflSI documen\s; or I
any agreement or liiS!ru!llent bindi11g upoft II or any or i\$' ~els; 01
all appllcable law.
O. Ati resolutioos, coriseols and Government Appl'Ollals l'flQWed or desirable:
Q)
(11)
to en.able ii laWiUllY, to eliter inro, exercise- ilS rtgt\ts and COJ111'IY with ii$ obllg11tlons under~ lraJ1$!lction Documents to whfeh ~Os a paity; and·
lo ~able !! to«:any <in Us bi.lsiness, tra,de a11d oltllnaty acUVilie$,
have Ileen obtained or effected and aie in full force. and effect
H. It lias not taken any ;iction nor (lo the Pe£! offis knowied!Je aoe1 belief} have $y Sill?> been taken tir tegal prooeediog~ Ileen s!Qrted or threalened Mainst ti fOr its winding·~. diSSdlution or re,organisation1 or for Illa appointment of a liqUida\or, receiver, o< otllet slmil$r officer i~ respeilt oftt or any of its asse~.
I. tio mrsJeadjng infoimation~
(I)
(II)
Any laol!tat infollllallon provided· by It for the p!Jrposes ot tM Ttansaelion, DQcUf11ei1ts was !Illa and accurate fin ell matenal re_speo\s as attl\e date it ms p((lvldoo or as at ~odale !if ilny) at Which it 1$ stale{!.
Nothing has i:x:curred i;ir been omitted irom 111e Transa!Af Pn Doctimer!l!l and no 1nf01111ation has been 9iven or Withheld Wl!~h ~Its ii't the infrumatil>n 0011l'airle\1 ln the T rC1!1Sactlon Oocµments belng untrue or mtsleqdillQ in any material respeclas at 'Ifie date U w~ ptoVided.
J. The Company has O!lrnplled wtlh .all I.he requiremehts as speoifiell under lhe respec~ve T aJt laws 1lS applloallte 10 them in tela.tfon lo returns. com11ut;1tiol1$. 11otices: and tnfolll\allon wl1ic~ are or are required to be made or gNerr by the Com!l'anyto an11aiu11Jihori1Y fat taxatloo and laraf!Y other Tax or duly purposes, tiavel.Jeen made and alfl,OOrrecl.
K. The Compaoy has not received a.nY wntten notice of any Tax di~putes or oti\et 11a.b)lities ot Taxes m respect of· whloh a claim has been made or notice hEIS been isstJed agi:ll.nsl fr·le Compaf'!\f or its. subs:idianes.
5A covenants of the lssuer
rhe C'Of'1P!IOY 'lliU prov1de covenants and vnderi3ki!lgs in relalloA tQ lire issl[ance, as 1s oQstomary for a tran~ctie>n ofthis ri!!ltJre and' slze, and Ille same W1U be captvred ill the Transaction Dooorrients and ii will also include tne key cove mints set olJt herein.
envata and Confidential - tor P!1V•te GU'Clllatlon only
The Colr\pany declares, represents arid 0011e11311ts to the Oebenlbre T 11JStee thal !he Company shall execute afl suoti deeds, dOCl.ltnents <111d assurances and do all suoh ~-ts and things as the O!:'betdu1e Trustee may reasonably require for ex~ all lh! tigf\l.s \leSl::d iri them under ll1e Transaction ooeumanlti lind tt1e Dt!bell!ures.
ii. 1ntorma1Jon Cownants
(I) The ComJ)ll!ly 61Utl {ll0"'1:le I cal.ISi! (0 ~ pro\li<Je<J lnfomiart0n In respect of th~ lclloWitig y,ilhfn a maxlm11111of15 (F"tltee.n) calendar days from 111e ttate on whlcil the oocurrenceof stdl event comes to !he knqwledge of the 'Coropany (unless oltle1W1se ~Ifie.all~ proOOed}:
(10
(iii)
(IVJ
A Any rlotloe or any applicatiOn ror Winding up having been msde or reoefpt of any staturory .notio.e or wil'ldtng up 1111der t~ ~cit Uie Act.
9 Any taot, matter or circulll$taoce wtiicll IYQVlcl cause Bil) of ltle 1epiesef\U11lo11s and warrant!e~ u11oer any of the Tran~ Oool8nents to becom& untrue or ln~rate or misleading WI any material iespe<Jt of which 11\fl Company becomes awa11:11
C. Any event wlilllh r.oMllWles an Elfent of Oefauh, Specifyi111> th& nature of such. event and any SlellS' !ti& CO(l'lpany iS takiriQ anO ~to take to remedy th!! same,
D. Any majof cl1ange tn ll10 cemposlllon of its Board of Directors.
The Companr shall ootif'V tlJfl Debenture Trustee in writi11g Qf any p!OµoS!l(l materlal tl\Mge m tile oolll!e oc $00pe or the busmess or operations of the Company or lhe ~eMg int.o any agreement or anangemem by any person that ma,v. in ea<lli case, affOGi die entl~ of the suets and liabilities of the company an<J which would adversely Impact 11'11 abtllty of lne Company 10 meet its obliga!lons In respec' oJ ttie Debentures. at least 3 (T!We) 6U5lne$$ Davs pf'iot to the !late on \lbllcn ·such acUon ls proPosed to be gjyen e~l fl is clarified tllal for aiw sucll change, ~reement or arianoement. whlch Is not matei!61 or Wlilch does llQI aflect tjle entJraty of tf:le assets alld l1atliltties ol the Issuer or Wnldn would not adversely affect the ability o! the Issuer to meet ifs obr19atlons In respeg of the Debentures, Ille Compar1y shall not b& required ta provide. any ooti!icafion w the Debenture T rvsleil.
TI1e Company $111111 fUmiSQ to the Oebent\lre TMlell s.nnuat (audited) tlnancial statements of tl1e Company W1U1111 160 (one HUl1dtea and ~hlYJ calendar days following the i:los~~ ol 1he precedl:\9 financial year.
The eompany $11«1! fum.'sh a r!!port to the Debenture Trustee on a quarterly basis. 0011!ai!li11J1 !lie iolbW!rlg part1CUlars'
A Up.dated list ot names ana ad<tresses· of the Debenwre Holdm
s Details of u1ipald due payments.. to be made, but unpaid and ~ f6r nonpayment tl!ereo~ and
c. T'1e number af1(! naturu m grievances ll!!lelveo from ttie Debenture ~olders, grievances resolved tly tne Compaoy ar.d lhose gnevances not yet solved to the satlsfaotlon of \ha Debenture tioldess; and
0. A rep~IOll from lhl tna118!)emetlt or the Company oertlfylng tl\al tl1e Secunty Co~er is malmslned
C. Affitmallve Co~eNl!lls
(I) The lswet wn carry 011<1Ad oondva( ltll bus1rie5s witt1 due diligence aoo ~
(0)
(IV\
(\'I)
(Vii)
(vllO
(IX)
Private and Confidential-tor private circulatlon.ovlY
Utilise the mon1es re<;eived upon s\!bsaiptton to the Oehentllres solely tt>wards Ille purposes mentlone<t in p;Ji'agraptl S.2 above (LJrilisafiolJ' of ls~ue PiO!!eed~).
~ep t)(cper books of acoount as requlred by llte Act and therein 111ake ti'lle and, Q!Oper enllies of all dealings and trd!ls.actmns of aM in relation to the Jlosiness of the Issuer and ~l!!lP 1!1e saiQ bqo.k:s of acc:ount ano all Qlflet l:!Oo~s. feQtsters and olher docum~ts relatllfg ·\O ttie -aff11irs of I.he lsS1Jer at its RegiS~eQ OffiPe 1:1r. \'/ilere permilfeo by applicable law, al otter plate or placeswhllfec ihe boo.ks of accoont' and documents of a simHar nature may be kept,
Tne Issuer shall perfoITTl all of its respecllve obligations ltrlder the lentis of the ~Iieable T ransaotion Ooauments and mairtfain (n full for.ee a:nd effect eac~ or the Tr<msaction OocU,tttenls to whicl)' it i$ a pai-iy.
Iha Issuer Sll'all at all Umes Cl(ll and prooee<l '" rnlaflon fo its alfalra and bus"mess In tem~liance l'Aih applioable law to !he extent that an~ i:o11traVe!lt!on !hereof may maleri;;;lly aJfe<:I tbe ablfily pf the Comparw to rreet its payment ohliga'Uons ll11'der Ille Issue.
Thii. ~ssuer shall comply With lhe (londltions s(tl)lllated by the Ratirig Agency 111 telaliort ·11> tho Debentures.
The lssuer shall WilhOUl lfrntu.e de~y atte111J U> aPCI redress tl\e grievances, If an)', of the OebeJlfure Hol~r{s), The Issuer further urn!ertal\es tttal I\ sliall {lrt1mpt1y .advise. tile T nl.sleeS of tl1e gnevafllles and ttie steps ia~en b,y the Issuer to red~ the. same, Tllec ls;i11er further shaO inform ttie Trustee or any unsatisfied gnevanees al'ld may acoerit I.he s\1Qge5Jio11s •Of the Trustee Jn the retites$al Of the sam~
The 15su~r shall take alt sleJ.lS 11eaassary to gst the !Jeoenl01es listed ~!111n 15 (Fl11~1u1) days from Ifie Dl!emed Date of Allotment In Ille ~vanl of lhe ISSUJlr's failure to do so, 161/le e•ter\t that any [email protected] Holdel'.(s} ate foreign lristitlltionat JnveSttlr(s) Of :stib-acoounls of Foreign {11.SliWUonal l11wstor(s), Ute Issuer shan immediate~ redeem any and all Oebenlures,
The lssuerstiall eJiSJJl'e that lHe tlehenll:Jres ate rated bf the Rati'r\g Agef!Ci arid oontfnue. 10 be rated by lM Raong A~nty duriog tile tenwe .olihe Debentwes ar\d lhe .Issuer snail noHake any sreps Ill replac(l Ille Rau~ Ag.ency Vlittioul obUilnlng lllll co11se11t of \he Oabeoture 'f l'l,lSlee.
0 Negi?;liVe covenants
(U)
{JU)
Tine Issuer shall mot without the prlor written approval of the Debenl!Jre iru.stee wind up, (iquidate or dissclve 11$ affairr. IJl\less suon ilquk!atkm takes claae in oorineciion with a metger, oonsolida!J<ln or any other form ol C6mb1nation of !he Issuer With '!!!IO!her eompar}y an<t !he reSlilling entity or oompany assumes all obf199tion;; With (es~ to 11\e DebenttJras;
The lssuet shall l'lbt make ar.y amendm.ents ip its oorisblution~I doet1me11ts in a manner which 'MJuld adverser¥ etfecl tile tights of tt1e 'tlebenluf'!l Hofders In relatioi\ to the Oebenl\Jfl!S in a malerifll ma11ne1, without-Ille prior wrl~en consent of 111e Oebel'lture ~tee.
Tha (sslJer shall oot enter falo any compromise or arrangement or selllemenr !)enerallYwiltl the sec~red clii<lil!llS of !t\e ISPuer 'Nltnout ltle prlorwritten oon.'lelll of tile Oebemure Ti:usfee;
6.5 E\'en!' of Dela.QI!.
J~ il'ha events [isled below (eacti, en ' Everrt t>J Default') shall oompn..~ the 'Even1s of Defaulr ln relaliDn lo Uie
t' ';... Debentures and shan tie appropilatetY ~out in the Tfansaewo Ooeume~tsc.
~· ,~) 37
•
F.rival~and_Qonfident.la!-for private circyla,tjgn onlv
A. Malena.I det.llllt Is ®mmltted by the Company In !tie pelfu'rmanee or obse!Vance of any oovenant oond1Uon or provision oonJ.all'led in the Transac.tion 0ocumen1s execllleQ by ttie Cornpany in respect of the Oebefil1Jres or a matelfal non-per1otrnanoe, material oon Obsertation of any oovenanL epndifion or provi$Jon of the T raosactipn Doeuments.
Et Non-payn\!lnt of' monies a.ue from time to bme towards princi'pal and! or 'interest ·payable !a respect of the De~ntures and such other amounts p!lyable as per the tenns of the T ransactiol\ Documents_ Plllvieled howe~er, ttia.t if !he monies payable as in1erest is paid wllhin 30 (Thirty) days from tlie Coupon Pllyment Date. tlie same shall no! be an PJent of D!lfauJL
C. Material breaoh of aoy repreS1a11taU011So ~Y the Company_
D- The Company reases to cariy on i(S business Or gives n-0tlce of its ini~ntlon ta do so.
E. 11 lhe C(lmpany is unable to pay rts clebls Wl~iin !he meaning of Section 434 of \he Act or If the Company is carrying on bu_siness at a loss and it <\Ppears lo the Debenture TIUStee that conllnualion of its bus11less Will ernlanger the Security Int~ crea~ fll !elms ot the Tfansactlon Documents.
r. It 11ie Compgny is in materisl breach of the TranSJ>Clion DecQll\l!nts or al\e1rates it\e Seounfy Interest lit fllll or Piirt, or Cfl!ille any secvrity in Ille Mortgaged P101>Zrty in tavour of any other Pel'S'on (exce"p~as per rh& Trarisactfoo Ooi:umenlS), WitlloUf Ille prior written ~l:mseot pf .Debenture T~ee;
'1. Occummce ol a Materfa1 A;lve~ !iflect In the opinion QI the Debentu~ Trustee or sucti numbar of Oebevl;ute l'fcrtters as are feQOffw to pass an Of1l.i11ary RewlutiOr\.
H. II an.Y pail of the Subscnption.Amountls usea for any litegal purpose,.
I. lnsolveocy proceedfn,gs
An'i corporate- ac.tioq, 1eial proceedings or otller prucedure or st~~ Is taken (lnciudlilJJ ~ lllal<ing of an C!P?f~on, !tie presentation of a peSlion, tbe illlng. orseNlce of a notioa or the passing of :a re,solulion). ih relation to.
(I) tne sµs(lension of payments. a moratorium ol any incfebtedness. \Wldi~ -uµ, rnsolvency, diss:olVtiOfl. adlnlnlstr3lior\ or 1·eorga.n1sati0n of tile company with an 1nfenfloo of wi)lcJihg up or liqu'Klaling or deola~ng Insolvent ll1e Company, (by way of voluntary arrangement soherne of arrangement or ol.he!Wlse): or
(Ii) a cornposmon. ®"\prom~, assig!lrnent or arrangement with aoy qeditor ol 1!le {',Q01~any; or
(Iii) Ole appointmenlor a. liquidalor, st,qiel'VlSllr, receiVl!f, Sllministrgtlve receiver, administrator, compulsory managiir. lru~ or other similar o"ffil;llt ill resll6Ct ol lhe COmp:any or att.Y of Its :ossets, anil 511cb appointment !las nollieen v.ocated or has nof been ofialJen,ged by tile Company; or
(i\t) any analogoos procel.lure or step taken ~n any other Jul!sdicfam.
J. Any expropfiatiOJt, attac:llrnef!t, Sll(tu.esu:ation, di>JreSS or etecuflon affects' any asset oftJie Company
K Sµail otller events of default as may be containeil in the Transa~ion Dooilments.
Upon I.he happening of an EVent of Pefaull, Ifie Debenture Trustee shall be entitled to e~erctse any and all remedies iQ OiCCO!danc:& Wilh the terms oontain\ld in !h1> Transaodon Oooumeots.
Plfva!• agd Coolidarrtial- for pnvaiaclreuJa!i1m ontv
~.6 Sl!ClllitY Interest
t... The reden]ptfon of lfle Pril'lcipaf Amount ~ether \Vith eouwn. itlitiieF intares~ l!Qulda!C'd ttamages. pr!:mlum, cos!s, ~harges. e~pe11ses in cr~~on. preseNatio:n, ~muner.lfion payable lo and te<!11$alion of Um Securio/ ln.i!test, the Subscdptlon Amcnlhf, remuneratlO!i of t~ D~ni\Jre T ru.'ltee arid ,OJl\ef f)10fli~ wnalSoever due and-pa.yable by ~e Compasw in respect ·of tne Oebem,ures iiind afl oilier amounts payable Under the T rcmsac(foo Doi:!Jlli\lllts, shall be seoured by 111e Secunly Interest.
B. Thl! Secllnty lnt!lll:st shalt oe created Wllhin a pertod of 60 (SlXl\I) da~ from l!w Deemed Oat~ of Allo!11'let1t.
c tlie details of the assets: O\/!'!r whfch ihe S~lity lnteresl is lo be created are as follows;
(i) All l)!e rignt• of the MJitgagor in a.II (hat piece and parcel of land oomprislrli! the Pro~erty, !ogel!;er w\lh $ll tile bWldings, eiecripns aod 0011st1tic:tl011s o( evef'f des~"ptiQll wh'ich ~ sta11ding elecled or attached or sball at any tllllft hereafter dutio~ the CO!ltir\lla.o¢e oi tht! $Writy hereby coos.tltuted be erectell and Slatldrng or attaonoo to the Properfy. and au fumitllre, iiltings end alt rlgtlls to use (IOt11tnon a~ a~d f3!ldities ai.;11 \nelde~IJI atl<lohell thereto, together wltti alt ~ fences, hed_ges, dlfoiies. wa,ys, sewers, drains, liberties. pitvU~es. e.asemen!s a11d apputt,enanQi}s Wha!srever to 1\1.e sal<t Property, ~ereditameflts or premises Qt any pal\ theroof whether presently In existence or rn !he fut\lre belonging \Q or "1 any way appul\gnaot th.ell!lo or U§ually )1ekl, ~ilpfed' or enjoyed th~ttl.Wilh or e,\;pec!ed to ileloAg or be appt11'lenant thflll!lo AND all est~ies, lights. Ude, Interest. property, ·Claims arid dernaJlds whatsoever of Ille M6r!gagm Jn, to.a11d JJpon the same whether presMllY iii. e,Xlsterice or cpnslruoted qr acquiled hereafter.
O. Jt is clarified for tne avoidalllle of cloubUl'lat in the event ttw Company is> d'esirous 61 obliltning lrna«ici~ fa-Ctt'1ills fltllJl a ~n~ or linaJll;lal insli.M\mn fof llie purposes o11he Projecl, and is, for li'fe p\.IJPOSllS Qf soourln!t $Ucti lllao, requlred to oreale a mortgage Qfl tlie. Mortg~ Property, the jj'j!;l cnarge oi 1J1e 0.aben(ure Holders -ori tile SEiPUli1Y Interest shafl auromaitcaJly be. ceded in favour of .such b!lnk or 1iliafflc:i.af inSlittltlbl\ wttelher b~ ~rsy of a p!!ri pcs.511 charge Of a firsl Qhar!)e, as 'tf~cided t.y ~he. CO"!fl"JlY aJld till sooh tiiir.e :as financing facilrty Qblaliied from su.ci1 ban~ or 1inilclclal il1S1i.lutio~ Is r~jlaid tn fl.I~. the Qharge of 1he· Oebenrure Holders shall ue a ffis1 and pari µassu chaiye ot a seco'lld c.li\lig:e: provl(J~· ~ tM Conipal\y sllall Inform ihe De.berfture Tr1$1.ee and the Debenture HQlders of sueh oreati@of d'targe wiltiln a petiod of 1 (Sewn) ~ays from ihe date of c{!'latlon otsucb Qhaf'g~.
E. The ls;~er stiall Within such ~rlO<l as may be !l)efl!lltted by th-e Deberltwe T ruslee, fumisfl to the Oebe11ture T l\IS{ee as the Debenture T ruslee may direct. addJliona~ seculi[y. if Ille Oebenlure Trustee is of ~ optnl.90 11\a! during the s.tltis.ls\!lnce ,of ttie ~belltures, ff\& 8eoQrtty Interest for tM Oebentu1es ~?S become inadequate on account ol !he Securlly Co\lef not being maintained and the Oet:-entuce Trustee 11a.s, aCllQj'di119\y, celled ~pon the Company to f\Jmlsll Sileli addlfionalr s~unlyJn such case, lhe CCmpanv shall, atils own oosts end experW.e.s, fl!rnlsli \,J lhe Debenture Trustee su¢"' add\tiMa) secvnct I~ rotm wd 111anoer SatiSfi!OfO(}' to the Majc:irily Debenb.lre )ioldeNJ and lhe Oebetl(Ufe Trustee as Seei!ITTr for ltle ~lebentu~s. al)d upon cfealkln of SUCI) addiliOllar seoun'fy, Ille same <illa!I vesl [11 the Det\enture Tnrstee suhjed to all ttie !Nsts, ~roYlsiPns aha covenants oonlai11ell iri (hesa presents.
F No oonsent strall be reQutl'ed fllr rele~ of charge ill fa'l'Qur of ptQSpec~ve ~f\a.sers JlU!'$lant lo sale/ agmemeni elf sale ~n resoecl of unit~ an'd any. 0~1er erea shared wttll ttie l..i!ndtiWner of lt!e Property.
S-.7 Decision!; to be ta~w b~ Debenture T !llslee
A. ll'ie Debenture Trustee sMll ta~e all decislons in relatiOn lo lhe Oebeniult!s as Jl!lf the terms or the T ransacti<m Documents and in aocordanre With the Apptitabre law, Where tl\e Tr:ansaclfun Documents do no1 proYfi:le for the rnannedn Which J!le ElebentUre i'rustee sMuld <!Cl, or the Oebentu~ Trustee ts
39
Priv.af.a.ln·d. Conlid!IO!ial -Jor privafa.dlroUlatilln anJv
reqtllred lo obtain ih.e consent/ lnstrucUoni>ol Debenture Holders, the Debenture TNS!ee sh;.11 laie such cteoiston Oflli 1n $CCbrliance With th!! instruetionsof ihe Debe11t11re l-f[jldtJti.
!i Vpon the occurrence of an Event eif Qefa\Jll and till ll is cured, the Debenture Trustee shall take all cledSion <lflrl acl!Ol\s in con&uflation with tne Oebenlllre Holder.;.
C No!Wilhsta.ndlng. the fti~o(ng, the Del?enlufe fjolders Sllan, by passl1lQ a Sp66at Rf!SQflition, have thee right lo ~e any decision witti re:gard to any matter pe!falnmg to lhe Debehlutes, lh.e Debenture T l\Jst Deed or ul)der any ollier Transaction Dac.u.ments, anu sueh oeclSlon taken by IJ1e Defl.en1ure Holders shall be bin.Cling upon the ~..benlure Trustee as welt.as the Oebenture 1-fol!lers,
0 The ·decision ta.ken, or not taken by (he Oebenlure Holders Wllh respect to Debentures by passing a Special t<esoltllion shall be ln the Interest ol all tile' Oabentura Holders and no Debenture Hold.er .sball be enb~ tr,i sue or tal<e ~y <iclion against the Debenture ttolclets wtio nave pa!;Sed IM Spe¢1aJ ResQlution for ao.y action or inaction as JPE!r tile telfrls Qf Ille Tl'l!rfs?AJllon Documools,
E. NotW)ll1$t;iJlding a(iyt)ling to the cootral)I ooo(llioetl in ttie afo(efller(tiooed i:iro\lisions. llefo$ .wmmellcing any ol ihe follo>MJ1g actions tn case of EVeril ol Def<1wtt. the Del:!errture T lltstee shall take or ensJJfe avall<1JJili1¥ of col'Sent oflhe Debelltilre Hoklers by way o! a Special Resolutlon:
rn lnlliallllg any p~etl!llnj)S .fbr the actual .salB or !inforoem;m( of any Seeurir.y lnteiest.
(ii) 'Change or replacemanim Secunry lrtterest. exce;ptil tJ~i!S are ge«lng sold In tile Proieol.
(in) Flltn9 Olitnlnal complalnl aga1$t any Pers'Oll
Qv) Removal and apwtntmern of Debenture T ni~l,ee.
M Se(eofii;m or Norlllllee Oiiflctor ill csse l'lf Oe!aul•
F. Notwl!hsrandillQ anylhing IP the contrary Cl>liJained in the a!ofe1T1entloned provll>toos. the Oelllennire Tlustee stialJ ffi!ve :the right to 'aP.polnt 11 nornin.ee director on tne Boal'tl of !lie Company upoli ll\e occurrence of any of the folloWillg events:
(i) rbe IS"sue1 ctetaulls In lhe pa)'ITW!rrt el interesiS accrued af\l! payable on the oetienwre for two oofl5ecutive Coupon Pa4ment Oat~
(n) Tile IS'Suer defaUl\5 in lhi? creation oi securUy ior !h:e E>eberiluf~ rn accordance with the tenns of tllls Information Memorantlum; ot
(iii) Tiie ~ssuer defaull'S 1n ReoempUon of the Clebentll!es 1n aoOQrdanoe wilh the terms of U11s lriforrnalfiin Memocandul'n..
G, Ar.y prooess, approval or complilmces lrt be iakerl by file Debenture Holders, sl\a11 be con$idefl:1tl as their 1ntemid mat\eis mi 11\e CompaJ'ly or the Deben!u;e Trustee slia~ net f\avil tllW ligbt to re.1.e any objedtitm or lJuesOM against it and !he C'ompany or Debenture Trustee. shafl aQCePt tne. decision communicated ln wnting and tile Company or Debenture Trustee saalL not be ff able In this re-sard.
s,s Fllrther Borrowings
Subjeol t11 ·tire Company, al a11 ames dlllifl!l tne renure lhe sectirity cover el al l~st 1 {one.) limes the total oulslandir.g txlrroWings 9\lailed qgalirsf IM s~l!J1ty of tire MoHgaged f>lliperly, 11nd die same aot bell\Q dnut~ !~ any manner <iue tp an1 sue~ ~ddi~onal blltroWing, 11\e Cainµ.aqy snail Ile PMflil!ed to avail an ad!lltipnal financial boli'oWing) withol.I\ any prior wllltefl t011S'eliiof the IJ'ebenture Trustee. It ls clarifili4 for !he !IVoldal'lae ofdou.lll that If tire valuatid'A Qf tile Property is suet; 01at it Is sigolticantly fn m~ss of ttie security Cover rEK!Ui!W to be mail1tained in relation to the Debel\tuies, ihe Compa-.y shall, sutiJW, tq co111pjfa111J& W1lh Iha terms and "..Ollllillons of ·111e T ransac~on Ot>eor®nts, be ertlitled to is.sue further oeb,entures against !lie seCllrlly of 11\e Property 011 a par1 passu baslS, anll the Qeb'entur10 TtuS!ee;;hall e'xeC!Jle sJJci'I docmnents as
Mllate and Confidenliaf • !or private uirout!!liiin only
may be neoessary In this regartt wil11out the reqUirement of apy additional approval from th& Debeniure Holders In this regard.
S.9 Moratorium on lnterest Paym<nls
ihete:sball be a-moratorium on payment of Interest tor a period oft4 (.twenty (our) months ftclm the Deemed Oate Of a11nrment. anfJ no payme11t stiaU be required to be ma~e ill relatiQn to coupon, lllooQh accrued: pmvided ihalltie Company may, Clt lls piS()retioo. pay out the interest eartler by giving a noti<:e ~n wli.llng_ to tile Oebenture. Trustee at least 30 (Thirty) days prior to !he dale on whicM the Company proposes to make the payment. Upon the e~pif}' of Ille Moratorium Period, Ille Company· shall be efltilleQ, to pay the. accrued interest In ooe or more tra11Ches at any time within· a ?Elriod of 24 (twenty four) mooths from 1he el\plry of the tytO[(l\onum PeriO<I by g!Ving a rlOUoe il1 wnttng to tile Debellture T r\lstee ptlor to 11\e date on. Whicll 11\e Compan~ prQpPSes to malte the payment,
I
t
Private aod Cofililfenliat-.tot pqvete. circtJ!a\ion on!~
-SfCTJON 6: OT}1ER !~FORMATION AND APPLICATION PROC~SS
ifl\e O!!lienltt~ !>elng offere1La:> part of !lie ~ss1\e are subje<l! t6 lhe provi;IQl\s,of the Act the Memo;a11dur11 arid Articles oi ~lalio11 ol lne ls$ller. the temis Qt ihls lnfoimaliqn Memorandum, .Appl!Olltion Form and olher lllMs..allo oonditions as rnaybe intomoraied tn th& Ttansaetftln Ooooments..
s.t Mode of 'f ransfetlT~nsmisSl'11ir or Oeb~tures
The Oebeotures shall be lraflsferable freely. The Deooilure(S) s'1cl1' be transtrmed a~!!l/of lral;lsm1.tied in aow~anee Wi!b Ille app!ltallle prm1isTons .of the A.ct am other a~plicable laws. The Oebenwres Meld ill demateliali~ed ft!rm shall be b"anste!Ted subjecl to alld in acoordance wilh !Re ruleslprtiaeduresas pr~erlbed by NSDl and ltre rvlevant DPs ol ihe, transferor Of lransreree <and a11y o~ apptteable lam. and ruie,s notifl!!d in ieSpeci 1he030f Tite transfereets) shouk! e11S1Jre tf\at lhe transfedool1l!lloes crre completed '!>riot to fhjl Record Oate. In U1e absence of ihe ~,J31\lOUnis ~ue :will ba ~di redemption wlft tie made .to ihe pel'St)n1 WllOSe name ~ppears in the reiitster of debenture holder.; maimai!Jeil by the ~& T Agent as on \tie Record Oal;l, under -an o1n:umstances. In cases wheie ihe lranslerformalllies have 11ot been, oomp~eted by U1e !ransferQ!, cialins, Jf, any, by Ille transferee$. wowlll need to be selJled with the ~ll.sferor(.s) and oot Wllh 1ha lssu~c. Thi! mmnal ptactidure ioltowsd for transfer af seouritie's hflltl 1n .Oema!l!nallled fQ!lu ·$h.~I ~'followed ror transfer of lhese Oe!lentures tleld In dert!aterialise.il fom1. The. seller should give deliver/ lnsln.ir.!foni; oontal11ing d!l!ails of the lleyer's OP account to h1s OP
6.2 Oebenl1111ls held lii Dem11leriallse.d Forn1
The IJeb\lnlures ~hall be het;i Ui dem<1tetialised ioflll and 110 acti011 is reqtJired OfJ tfle pait of tile Oeben\llre tlolll!er{;s) filr redempGon pl!lrposesand \Iii! (ed001pl!cm prooeeOs \'lilt be ~aid by ctieqvelfi.ml transler/RTGS lo those Debelfrura Hefder(S) whese name.s appear on too list of !ieoef!ciaries maintained by lhe R&T Ageot. The nal'Tles lllQ\lld be as per the R/l.T Age11l's ~f.tls ofl Uie. R'ecoril Oat(l fil!ed lot ll)e purpos~ ot redernptipll All sucn Debenlu1135 will tie, simulla11e01.1~IY r.edoorrle{l lhrough appro1>tit1te dell~ eQlfl<)rale aolion.
ll1e 1151 of !.iertefiol;irles as of IJie Record Date· setting out tile televi;nt bene.fieiaries' name aod aooount number, adtlleSS\ bank daialls end OP's idenUfieGllon number wnl.be>. g1Vefl' by t'1e R&i' Agent:to the Issuer: IF permi!I!;~, tile !ss~r may transfer pa,yrnenls reqllited to b~ made. in any (e'.latloo by 01reel Cl.mdlVECS/EFT /RTGS lo !11e bank c.ccount oflhe bebenrure Holcta«s) or rafsing • pay•ble·al-par' ~1ammlll/ cheques ,ior redemption peymel'l!s.
6.J Trustee for tM OebeliturerHolder(s)
The Issuer has appoio(oo AY.is Trus!es Services lfr!liled !o act as !Ju~ee k!rir!e Debe11ture Holdel(,s) Tl!e ls~uar aM tl\9 Debenture Trustee intend lo enrer into 1!1e Oebenlu11! Trusl Dee«l illler al{~. sp~cifying t11e powm-. authorities and obligalltins of Ille Debenture 1 ruslee am1 the Issuer. me Debenttlre Helde$) shi;fl, Without fiJrther act or deed, be deemed to <have frrell9!1<1bly .gl'len !heir oo11Sent to lhe !i)ebentur~ Trustee"or any of ils iigenl$ or a1Jl1io~ olfJGtals lO do .all §tlcfl ~cl.S, d.tlei:I$. 111<1ile~ am! ll'ings !rt respett of DF ~allf\9 lo file .Oebenltlf!!!; ;is !tie DiibeiitUr& T ru.s.tee. may 1r1 1ts absolurtt d.lss.r0tion 'fl!ltllTI ®Cessary or requi~ \0 be d.one io llie interest tif the Debenture Hol(!er(s). Any payment mi;ide by I.tie Issuer ltl the Delienti.lre Thl.$~ on tiehaff of ttie Dabenture Holde~sJ snail disohar.ge the lss~'er pro fcl,1to IP the Detlen{iire lrloldef{s), The Oebentu~ 'frUStee. Will pi'olOO! ttre interest of1he Debentllre 11ofder(s) 1n re~alll IG the (~pa,Yment cf principal and Yield !hefaoo and IM-Y wm take 11eressary ad'Kin. subJ~t to ;;1nc1· in tc:cordanoe with the Oebe11\tJre T ru.sl Deed, at the oosl ~the Issuer. No Deteotur.a i10111er shalt be e11title.c1 to proceed directly againsl. Jtie ~lief unlf/$5 Ille De!lenll.tre. Ttust~. ltavlng tie®me so bound w proceed . .f2i1S 1Q' do so. TM oebeilltl,t'e Trust Deed shaR more spec(fic:a!IY set out Ille nll~ts and remedies of !tie Debetlblfe Hokl~f(s) and the manner oi en!ore.e1ne11Uhereof.
The Board of Iha Gcimpany shalr tiave tile fight lo ml any 6Ssual YacaflC) in lhe office of ttre debentu~U\IStee, but durlng oooh perk1d as the Va<:ilt\CY CMtlnues. I/le Deben!U'J! lntstee'Sfia1' lie alloW¢14 act as ilie debenture tiuslee for the Issue. Provl'ded'however, ti\at wftere :s~ v~ncy ls caused by !he re$ignation of tlied>ebenl~re Ttustee, the V-..oaflll'f sllaJI only be lilied With the Wrilli!it t.0ns;;nt of the majority of lhe Debenture Hofders
4Z
PriJl.alaand Confidential~ for private droulaQon_onlY
6.4 Sharing of Information
The Issuer may, at ils _option. ti;Jt subject to applicable laws. use Of1 i1s own, a.s well as exCtlange, Share or part With any 11tla/1Cfal or o\lle• infDrmaljoo about Ille !labertlure Jiolde~s} availalile wffii. !he lssuef, Will'I its su.bsi;!iarias and .affiliates and other banks, financi~ lnstitullons, oredil burea\Js, ~rmoles, slll\\ltorf bodies, as may be ragMire!l and nellher the Issuer nor llll subsidiaries and affiliates nor the~ agents shall be liable•lllr use of !Pe af6resall! infOrmatton.
6.5 Oeljentu.re Hol~er not a SharehOldef
The Debenture Holdar(s) shall noi be en(illed lo any right and privtteges of sharehold~rs other than thoSe available to lllem Urlder I.he Ad The Oebenlu~ sfuill not rorifer tjpon tl]e Debenture Holc!ets tM right t6 reoeNe nolice{s) or to attend and to Vl:lie at any general meeting(s) of Ille sttareholdets of the Issuer.
6.11 Modification of Debentures
1he Debenture Trustee and the l.sso.er will agree to lliaJ\e any rnoojfjca"Olls- in tfle lnf6rmi!tlOO Memorandum whlcn in tfle. ~pinio11 of the Dellenb!re Trustee ls of a romtal, minor or technical nal!Jre or is IO oorre.c;! a manifest error_
Any other change or modification te the t"eJms uf the Debentures ghall require ~pproval of"lhe Debenture Hojders b)' wciv, of a Special Re~lutiQn.
~r the <1\lt;idance. Gf doubt. the fQllow1ng mailers require !he consent of Debenture Holdera llY way of a Special ResalWfon. eilller by pto<Jidlng ltleir eXpress co11seol. in wr1Ung or by way of a resohJtion at a dUIY convened IT\eebng of ttie Debe111t1re Holders:
A.. CreaJin.g ofaJiy addUional security; and 6. Ame)ldment to ihe rerms ::1nd conditions of the Oetienlttres or th~ T ransa<ifim;i Dooumellts, trtchlding
but not Rmited IQ the c1n1pon, the term o1 the Oetlentules and the amount payal!)e nri redemption 0f Iha Debenture~. tnctudlng llfflfl\iun'I on redempl/On.
6.7 Right to aC(;ept or reject Applications
The B{)ard of Direetois reserJes its ti.ill, unquatifioo ;i11d a.bsolut& oght to aooePt or rejet\ ag~ applk;atiQtt 19r -subsof(pdort to !he.Debentures, r11 ·pa11 or in Full. without asSJgr\ing any feason lMreor
6.Tl tlofices
Any notice may be served lly tile Issuer/ Debenture 'trustee upon the Dl'!benture H&ldets lhrough regfstered pos!, fecogniiecl ave[!llghl CQuner servi~, hand d~ll\lery or by •facsimile llansnllssiQn addres.sed m suetl Debenture Hokier ai its/llis regisiered adlfres-s orfacstmile nurnrer.
All mitioejs} lo be given by the DebenlJ,J~ Hdlder{s) !o the lssur.irf Debenlure, TlllSfe& shall Ile se!lt by registered po$~ recogniied overnight courier set\llee, liaoo dalivecy or by fapsim'ile transmission lti the Issuer or 'kl sucl\ petsgns at stJth ad<treSS/ facsimile number as may be ootine.11 by lhe Issuer lrom bme lo lilllit tlll'O\lg/l sui!<ible corrrmunicat10<1, All llO~ndi;nce regartling lhe OeJlentures sllould be marked 'Private Placement of Oebenf~rf!S'.
Notiaets) shall be deemed lo be effeofive (a) In Ill~ cas& of registered mail, a (Three) day> alter poslin.Q: (b) 1 (bne) Bu~iness Day after deffvery by recogoized ovemtg111 co~ner ~etVit~. if s&ilt (Qr ne)(f Bilslness Day deliV!:ry; (c) in th& oase of facsimile al the time wket1 tlispatctieil'With a repo-rl connrmlng prqperlransmisslon; or (d) in the case f)f peisorial lfelivet)I, al Illa 11me of d~ve.ry.
Private and C11nfidentlal - for private e1rcufatlon onty
6.9 lssue Procedure
Only Eligibfe !nv11stor:s as: given ~ereUoder may appl)I ft>r ihe Debentures 'oy completing ttie A,pplication FOJ1'11 in the prasc.rtbed format in tlfoell lellei:s In Eogltsfl1 as per fhe 11\$1)1.lelions OO!ltalned therein, Ille minimum number of Oebel1tuJes thaf can be applied fer and lf)e multlpk1s thereof shall be set out In the Appti~on Form. No appOeation Ciln be rnade fQr a lrootion of a Debenture. ApplicaMn l'orrns should be duly QOrtlp{eted in all 1espeet's al\CI applicaoons notc.omple~d in the sa7d maMer are fJable to be reje.<:1ell. Tfle name of 1/le applieanl's ban~, type 01 accou111 ani:t aceotW lljjmber mu.s1 be duly completed by the ~pplicant. this is required forttie applicanf s own safety and lll.ese details wtll be prin~ on the reru)ld orde11>11ml /or redemptlons wa1TBnts.
The appUcan!shou'ld transfer payments required 10 be made in any ·retafion by Di~t Ciedl~CSEfT/R.TGS, to ihe bank account df the Issue' or by raising 'payabfe-at...par' wariants/ cllequ~s as per the defcil!s mEirttiooed ~n lhe l\ppncation Form.
6.1 o Applit9tjon Protedure
Pot~nUal irwestprs will be lnvl\ed to sobstrllle !Jy w~ oi the Application Fomi prescribed in the. lniolmslion Meroor;mdurn during lh"e period between the l$Sue Opi;nr11g O'ate al'ld tM I~ CIOSing Date (tl9til IJates incfustve). The Issuer reServes the. righ~ to d1a1'1Qe lhe ls°SlJe$:nedute Including tne Deemed iOate of Allotment<lt its. sule disaret~n. Wilt\Oul giviog a11y reasons or prior lj()fic:A;!. The Issue wi11 be ope!l for subscrip.llon ·during !lie bal'\kr~ houl'S' on each day d~nng the period cov10red ·ty th& lssi!e SC11edwe.
&.11 Flclltfous Applica!io.n
All flOtitious appllcations Witt be reje<l!Ed\
6j.2. S11sis o~ Allotment
Notw'rthstanding anything sJaled e1!lawhere, Issuer reserves tl)e right to ;;Cllep1 orrejeol ar11 iiPpticafion, in part or In full, Wilh<lul~_gning any ~:as:oi; Su~oot to ltie aforesaid, In case ol over subscription, poorily will begrvan to lnvestois on a fill:! come ffrst ~rve tr&Sis. The lnVestors- wUI be req~lred to rema the runds:as weU as sljllrnil'tfle duly oompleted AppliS!lliol'I Fonn along whh other oooessary dfl!:llments ID issuer by tile Deetned' Oate of Allotment
6.13 Paymtml Instructions
Thi! 11,ppl~don focm $RoUld ~ submlijed ~lly. The entire amo~nt-0f Rs, 10,0°'000/-(.RIJ~ Ten La~~s only) per Debll(llure is payable aJoc:ig with tt1eo making of an apl!flcstron. Appl/cants can rem.it the appJlcaoon amollllt through Direct CrediVECSltFTIRTGS .on the Psy;-in Date, or te1lse 'payi!ble..at-~ar Warta11ls/ 1'1leques ftie RTGS <letiils oflhe Issuer are as ullder:
Beneficiary Name Bank Aocounl No. l~SGGODE SWIFT Bank Name Brarn.h Mdtess
-.
6.1• 15ilgU1'e Investors
GCorp Spaces Private Limited 00.762000014158 HDt='COQ00076 HDFCINBB HDFC Baslk tJmlted Post Elox No. 5iQ6. Shankara.nar<>yan Bu11dlngs, 25/1, MG Road, Beng~lore.-560001. Kamataka
t The fellowing categories -0! ln'le;Slors, when spec;lficallr approaoHe<I, are eligible to apply fw lhiS private placefll6nl of Debanlores su!>ject to M"lffng !heir ll!Spective tnvestment r.onns/l'llles and compliance Witll laws
"
-· ~ lfi; t 1}= 4A
~
P.ltvatungpooAiientllil-for orl\late cl'rclllation onl:;
appncabl~ to l/!em by subrnitting all the 1elevant llocuments along with the A?PflO'.itfon Fonn \ Ellgible lnve11torsj:
A B, c. 0'. E, f. G. H.
"
Noo-~nKing financial oompa1\les OofllOJates Bani\$ Foreign persons, to the elctent pelJllltiecJ l/Y Appli:JabJe ~IY; l'orei~n rnsti!Utional investors {Flis) and suo-aceounls thereof Qllalifled Foreign investors (Qfls) lnsura11te Com?llnies tnves1lrtent holdlng companies of Mgh net worth lndMduals Al\Y other peison erigible to invest iri the Oellentures
All lnVeslors are le11Uired. to. wmplt Witll tile refeval'll regutatfonslgllii'leijnes <IPPlltable to \hem ror investing in !his Issue ot llebentures.
Note; Parllcirxotion by p!Jtential Investors in llJe Issue may be subject \o sfa~jtory anc;l/or reg11lafol}freqlill!lments ap~ieable to. them (11 connection With S1Jbscripllall Id Indian se<:urities by suoh catsgor\e-S of pe1S01ls Of ~ntities, Applicants a!<! advised to ensure that ·they oomply WID1 a.II f"flQUlatoiy requitemenlS a1uiftcatlle to ltlem. iricludlng ~chan_ge controls and otller tequi1ements-. Applleants ought to srek independent legal ;ind regul8tOry~Mce in relation to Ille laws applicable to U1llm,
~115 Prouef,lure for Applying for Demater!aHsed Fac1Jily
A. The ~pplican! must have al least one lieneflciary account Wilh any of 111e DP's ol NSDL prior to makir!;J the applicatjon.
B. The <iWll.G<JJll must ne€essar.IY fill In tile delailS' (including tile beneficiary aooount number and DP · 10) a11peqring in the Appnca\ion Fo!111 under the heading 'Details for Issue of Debentures in Elec!ron(~DematetiatJsed F<lrm._
c, Delientwes allotted to an applicant Will be onxfifed tll t'ie appjican~s respective bilneficlary acoounl(s) Wilh t~DP
o, For S\lbscrlfiin:g to the Debentures. names lri !he Apvliea(ion form should be identi!:al lo these aP~aring 111 tl'le details in the Depository. In case.c!jo!fll tlpfders. tile names sho(lllf nece$SClrilY be i1'I the sarne sequence as they. a!fpear in 'Ille account ,details maint<)itled wilfl Ifie OP.
E;, If ini:omple!eiiocorrect cletails are gwen 1,1nder I/le .heading ·oetaiJs for Issue Of oetietttllt~s ifl EJeottonMl/Dema1etialiSlld Fomi' in the Appficatic:m Fortn, il will be aeemeil to Ile :an inCC1mplete apptii:ation and the same may lie l\efd liable for rejection at {Ile ooR> d\scre~on af ttie Issuer.
F. f'or allolmant of Debentures, !ha address, nomination details anil other def.lil!s of the appll\;allt as registei'ed Witll fliS/her OP s:hall be used for all oorrespondenoe Wjtfl the eppllcanl T~a appl'l¢lirlt is !herefore-resl)Ol1Sible- fer the con-ee!rtess of his/her demographic detaUs .gi\teri in J(Jie ApplicaliO!l for:m v\S-!l;-'lfs tl10S& with hiskier OP. In case !he informaV0111S incorrect or Insufficient the Issuer woul(I nol be fiable for Ille losses. if any.
The redernptlon amount or other l:Jenefits WO.uld be paid to those Oell~liJle Kolders Who!le names appear on the ff$. oH:ienefiefal 'owneJS maiti1ained by the R&T Agent as on tne Record O;ite. In -case of those Oel:lefll'uies fllr wnie/1 tire beneficial oWlJeris not identifred in the record~ af the ~&i Agent a.s on tile Record Date. the Issuer would keep 111 abeyance the payment of the red.emption arnotint Of olhi1F bed, until suoh ttme·that Ille beneficial owner is irlentified by U1e R&l Agent ancl co.nveyed to Ille Issuer, whereupon the red'emplibn amouoi and .be!1eftt.s wm be pa"ltf to. the bellllfici.aries-, a.s id.entilled,
Private and Conlldilitlal - for private cil'l:Ulatioll onlV
6_, 16 Depository Arrangements
Tiie Issuer shall ma~e necessJitY arrangeme11l with NSDL (or issue ~rid h.oldln9 ol OebenlJJf6 in datnatllrlalised !Orm.
6, 17 Llst 1>f Beneliclafles
fhe Issuer shall request the R&T Agertl to provide a l[st of beReficfartes as at the end of each Reoortl Dale. Tn1s shall be tfie list. wtiiQh will be use<i t6r payment er repayment o.f tedernplion moni6s.
6.1 e Appllcatlon under Power Of Attorney
A ~rtified true oopy of the power of aitomsy or the relevantaut~rity as 111e oose may be .along with the names alld spe<;imim sigoeture(s) qf. all !he aut!Jo11Zed signatories ol the Investor and the tax exemptkm cerlif.oateldocumenl ol t.11e 111ves1or, if :Z.fl'f, must oo ~Qdged a1Q11g willl the submission of tile C0111f11eled Application F'.aflll. Furtner modlfioationsladditror;is In lhe powet of attorney oc autltority sliP1J)(I be notified to \11e lsstter or to Rs a~eois or to $Uc~ ot>rer persoo(s) al such oth!lf a!fdtess(es) as may te specified bY the lss\Jiir from ·lime 'to .nine thro1J9h a sulla.bl!! communicaOon.
In case of an appOcation miide by oompanii>S under a power of attomey o~ resolulton or auth<irity, a certified true copy thereof alo09 Wlth rnemoriitidJJm and .attlcles of esswta.tion andfor ~ye-laws along w\lh olher consU1utlo11al documeols m1JSt tie ettaehe1l to Ille AP!llicalion Form at the tr~ of mal!ing !he application, faili119 whlcl\, the Issuer re~rv.es Uie tull, unqualified and absolu~e ri9hl ~ a~pl or reject any applicatirm in w'161!! or tn part and in iililier pase Wilho.Wl 'llSSlgning any reasoil 11\ereJG. Names an~ speeime~ stgnatures of ali the alltnoll.zl.!:d signelori~ must also be toelged aJong Wi!ll the sub111JSSl011 of the completed Application form.
6.19 Procedure !Qr application by Venlllre Capital f'uncls arid Ntujtlple Applfcat1ons
In ease of applicatlilns by veoture c;ipllal funds, a separate appticaiion mus I be made ir1 reweol of eaeh sohema of an Indian venture capital fund reg;s(eroo Wl.th the SEBI and .such applications wm hot be treated as rntilbpla apphcation, provlcf.ed lhai the appllc.afion made by Uie asset management cempi!llYilruStee/custodian clearly hjdlca!ed their lntellfip11 as lp. lhe s.~heme fur Wl'lioh the applicatldl'.l lla.s been made.
The appDcatiOn forms <lufy tilled shall pfel!rly il\di.flat.e the name Of tire OOrtre!Tled scheme for wfllcil applir;a!ion iS being IT\ar!e im~ most be eeoomparued ,by <Jertified 1rue copies of:
A SEBl r~lslraoon certifM:am 6. ResoJulion auftiorizing investment arid oontai111ng operating instrutlions c;, Specimen s1gm1ture of aut11oiize4 sigtia!Qlle$
6,20 Documents to tie provided by Investors
1,westo~ need .\o submit I.he following documents. as :appficabla A Memoraudarn .and Artlcles of ASSodatioo or JJtfier roostllu~rial dooumenls B. Resol~ijOl'l iiuthorislng lnvestm~llt C. Power of Attorney lo c.ustedian o. ~imen slgnaliJres of me avt/lorlsfld signatories E Copy of PAN c.al'd F. Applic;i!Jbn Form (incl1.1diF19 RfGS details)
s,21 ApplltatlonJolo be accompanied with Bank Ac~oun.t Deblils
EverY applloation shai' be requi~ to be accompanied by ttie banll. acoounl delaJls of Ille applicant anr:t the
J magnetJC Ink character reader code of U1e bank for the wrpose of <1vliifi119 dlmd credtt of re<lernpHon l!mount
~ .,; --~-.~~~~ ~-
Pnvai,ancl eon!idtntral - for private circulatjon onlv
and all olher amounlS ,payable to. lhe Oebenture 11older(s) through ECS/EfTIRTGS, or by 'paya~le.-at-par' waITT1J11S/ ct\eques raised lly Ille Issuer.
6.22 SUCce!!Ston
In the event ol Windlng;up of the hOlder of !he Oebe11ture(s), !he t.ssuet Will reoogntle the exet:ulof ot adrrtln1stllllor of the ooncernll<i Debenture. Hokler(s), or ihe 611ler lega~ represe-nta!ive as l\aving ti"e to the Oebentu~e(s). The lssu.er .Shall . ooi tle ~und to re.b!lgnite such exee\l\or or admloistrat\lr or other r~al rspresenl<1tive <l!i lravl119 tif[e to the [)gben1ure(s), unless sucll exeGOtor or administrator obtainS' pcobawor letter of adminlS!i'aUon or other lil!lal repfesentaoon, as !he case may be, from a court In India haVifig jurisdiction over the matter.
The Issuer may, ill lls abSQlu(i! dlsc!etion, wMre it thtnks fit dispense willl produ{ltlon ot probate or letter of administration or otller legal representalion, In ·order to recognize such holder as being enlitloo la !he Debenture(s) standing in the name of the ooncerned Deben!tJre Hbfdet on p.roducUon or surr1tie111 documentary proof ~lldlor an indemnity,
6,23 Mode of Payment
f\11 payme11ls must be made through Direct QediVtCSlNEFT/RT-G.S or by raising 'payal>l~at-;par warrants/ cheqlleS, as .set out ln Ille AJ)pllcatlon form.
6:24 Effed (If liolldays
Ii any Coup0fl Paymel'll Oate faUs on a day illal ls oot a Working Day, the payment sh.an be m&de on the lmmedfataly sueceedl1l9 WQrkTng Da}"', The Coup0n for a riar(igular quarter iS p!Jyapte oa ·or before !lie fifth !fay or the ne~ quarter; aeooroingly, since the .Coupon Payment Oate is not a siligle speciO~ rtate. the imgaci of holidays on paymept.of coupoa shall stand JltJllified
6,25 Tax Deduction at Solll'lle
fax oo Pi!yllle!lts re1!ltfng to tr1is l$Sti~1 i1$ applicable under the Income Tax Act, 1961, or any other slatutoiy modification or r_&.enattmetll theteof \'lill be deducted a; sQ~loe. For seeking TDS exempfkm/lower rate of TD$, telev;;nt c;ertlfoateldocument mwit be lodged b~ llie debef!ture holders at t!)e offl~ of Ille T ~ns(ef Agents of\ne Company al least 1 s (Flfleeo} days before tM r11leVanl paymi;nt.bec1.1min9 due.
6.16 Leite!$ of Allotment
The lettei of allo!lilent. ini:lflr.it1ng aJ!otment of the Debentures, shall be issued in demat form and cre(.lited wltHin two Bus1ness Days trom ~ Deemed .Oa~ al A!lolmenl .
e,27 O~me~ O~te o.f Allotment
All the oonefils uotler the Oebe11tures >Mii aoor11e to ths Investor flPlll the specified Deemed Data of Al!Oltne11t, The Deemed Date or Allotment for the Issue is Ja"u~ 12, 2016,
6.28 'Recoifi Date
The Record Dale, In respect nf ~l payments to be made by the Company In relauon to the oetienMes (othar 1ha11 coupon for whieh the Record Date shall be as ~pecffied above}, shall be the date cm :Mi!cn lhe tales! ~)ll)rt has been reoe(Ved from NSDLprlOr lo payme11t.
6,29 Refillids
#~'~ ~~)~)
,...- Al
..;::> 47
Pri:vate and Conlidont1a1 -tor orivatL111ircula!ion only
Fat applicants wltose -applicalions ttave been rejeclild or aJlotted In part refund orders w~I be dispatched Witllln seve11 days from !he Deemed Date of Allotment of the Debentures.
In case the Issuer h<!S received rn.oney from ~ppliaants fo1 Oebenwres ln exces.s Of the aggregate ol the applleatill<i mone~ relating to Ille. O~bentures fn fespett of wtlidl ailo.ilJlelils have. been made. the Registrarsbalt 11Pon retelwing instrucdons m relation to !he sams from the Issuer retJay Ille moneys to the extent ol such exce_s~, ~f any.
6,30 PAN Nun)ber
E\iefY 'ilppjicant should mention its Permanent Accou!ll Numbec ('PAN") allotted llr:ider lncorrie TaJt Act, 'l961, on lhe AppJica1io.n Form anll att;lclt a self-all8$\ed copy as ev1t1im_oe. Application forms w1tho~t PAN will be (;llll~ideied' i11comp!ete and are liable lo. be re'fecred.
5.3 I Payment on RedemptlM
P'<!}'ment 1n case of redfln\P~on/ fart_y RedefllPtilln win be made by way of sheque{s)/redemption warranl(s)ldemahd dflifljajlcredil lhrough RTGS sys!er:nlfunds transfer ill lhe name of tf\e Debenture Hoider{s) 'Mlose names.appear on ttle fi:st of beneucial owners giVefl by ti\e 10epositOJY to the issuer 1:1s o~ ·!lie Record Date,
The Deben(ures snail be.ta.k/lll asdlscha.rged on payment of lhe iedempUon arnount by the Issuer on mallllily 10' ~ reglsiered Debemure Holder(s) wfilOSt'. name appears 1n ~ ~egr$!e'r of Debenture Holder(s) on the Record Date. On such paymenl being macle, the lssuerwill lnfol'f!l NSDL and aci;ordingly lhe account of the Debenture tfolder{s) Wilh NSDL will be ruljusted
Go the Issuer dlspaiching U1e amount as specifioo above in respeoi of the Oebet11Ures, Ille Jlabillty of the lssller shall stand e.Xlingu1st1ed.
Disclaimer: Please note that only those persons to whom thiS memoratlduw h<1> been .spec1flc<1lly addle$$ed are etigible to apply. However, an applio<ilion, eve111r complete 1n all respect$, is liable to bl! rejected williotit assigrfrig any reason for the same, Tue rist -0f· doouments fJrovfded abOve is only indicative. amd an rnvestor is required to ~rovltle all those documents I aultlorlwlkins I inforrnaalln. wliich are llkety ~o be requited by the 15sueL Tbe !ss~.er may. Dut is nol bolln!l !O revert ~o any lnVestorior any adcfltiooat C'OG:Uments· f illforrnafior., am! oan .acoopl or reject an applicatioo as it deems fil Investment ti)' investors fallin9 h1 IJll'; categories mentioned abQYe ai:e merely ir(dfc.etlve and tile Issuer does not warrant that they-am permitll!d to Invest as per extani laws, regulations, etc. Each of ihe above categories of lhliestors is r~quil'!ld to ohec_~ and cpmply wltn e~ll! rules/regulation~ gtiidelines, ale. Goveming or regufafing their invesirnra11ts as appOcabJe to them and !h& l$Gller is not. in any way, directly or indireo11y, responsillla for -ally sraliifor}' or regulato(Y' bf&aches bV a.ny investor. l\~ither rs tr1a Issuer requ[ted, to check or oonnlll\ the same.
Priviltl) and ConfidenUal ~for pnv<ite clrcylalfon ontv
SECTION 7: DECLARAtlON
The Coll\pany declares that all lhe relevant provislo!\S in the regulationS/.guidellne issued by SEBr and other appfica.ble l,aws liave't>~en con'lplled will'I anc;t no st~tement rn<J<lQ i11 thi$ lnfo~lon Memol'a!idum Is contrary to tile pmvlslons of. (fle res~lafjons/guldellnes Issued by SEBI and other appffe&llle Laws, as the oi1se may be. The lnforma11011 ·0011tained in this Information Memorandum 1s .as applicable to pnv;itefy placed de~t secwitles ~ subject lo lnlonnaHon available wllh the Compan). The extent of disclosures maQe in !he lnformatioo Mamorandum is consistent with disclosures .pe1111ltt00 by reg11latory authorilles b the Issue of securilles malle by tlli1 eompanies In U1e fl)3sL
For GCorp Spaces rtvate Llmited
Date· January 7. 2019
Private and Confidential -ror orrvate circulation only
ANNEXURE J; LETIERS FROM CREDIT RA TING AGENCY (Letter dated January 6, 2016])
B~'llJJl,X0/1D.'•"l-S• 16(<1"t~' ~Ot:lt.r\" or. A•" •lt. ~iu,rriri& ... • J1-Dll'-~ ~~t....u.t.
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life$;'\
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50
ANNEXURE II: CONSENT LETTER FROM THE OEBENTURt TRUSTEE
J, AXIS TRUSTEE
-•1111 : u.~ ..
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Private and Confidential - for private circ1daUon only
Appncat!On form Serial No:
The Colilplia·n<ie Officer, GCorp SpllCes Private Umilecl
ANNEXORE Ill: APPLICATION FORM
lt.21119, Craig Park Layout, OFF-MG. Road, 'Bao9aiore- 560 001
Dear Sir,
We. have· read and uricJers.jood tile Terms and Co(ldition$ of 4he< issue ol Debentures incllldii19 the Risk Factors descrlbed in the Mefl'loraodurn and have considered these in 111akiOQ our dec16ton \o apply for allotment of tM Debentures to us. The amount p<!.Yi!bla on appiioation as shown below js remitted tler&Witlt On allotment pie~ plaoe our narne(s) ori the Register of Debenture !lolaer(s), We bind ourserv~s to too ierms aM conditions:~ oontained in the Memorandum.
(Plea$e read carefully the tns!ructlons on the next page before fltllng this form)
Details. Series No. of Clebentures applied finfiaqres\ No, of debei1lures qppjfed (In words) Amount Rs, in fiauresl Amount -Rs. in words) Cheque/Demand -
Draft/RTGS Defai1s Dale Drawri Ci>n BanK Aoolleant's Name & Address In full lolease us.e c;mltal r .. 111>rs\
I Pin Code: TeleohOna: fax: Erna11: Contact Person Status; BankinQ Company l ) Insurance. Comnanv I I Otheis { l - nle~ S"""ifv Name of .Allthor1sed SianatolV Deslanatfon Sianature
Details of Bank Account Bank N'ame & Branch NalJ.ire dF Atcounl Acoount No.: IPSCINEFI Code
, MICRNo .. Oepos1t0Jy Oetalls I OP Name DPID I Client ID
(i .We understand that \n ca5e of allo,ttnent of ~~bentllres ro us/om Beneficiary Aec9unt !IS mentioned above wot kl be: credited to the extent of debentures allotted,
P.11Yate amLConlide11tfal ~for private circulation only
TaxQavera PAN l GI~ No. l'r CiroleMlartt/DlstGet I) NetAlil)tted
TllK DBt111C!IOrr Stall.ls r i Fullv i:xemot I I Ta~ to '.be <IM~cted at Source I l Yes: I f)No I
We Un(lerstef1d and conffrm U'lat the lnfotmatitm provided in th~ Memorandum is proVlde(l, by the tssuef a.no tile same has 110! been vetlfied by any legal advisors to 1tie l$Suer. aJ\d 0111er i11termedlari~s· and their ;igents and adv®~assootated wltll this Issue. We oonfirrn that we have lor the purpGse of investing (n these Detlentures csrrled out our own due ditil!eflce .ind made ou( owo d.eolsio{IS Willi respetllo Investment in tliese Oeben\ures ar.d have not refied oo any representa!ions m~e by i111VOne other than the issuer, if any.
We unde!Sland that t} ro case. ,of allolmeol of Debei11uf!i1S lo us, our Be11eficiary Account as menU011ed above would gel orooitoo to tile extent ot 21Jotle\l Debentures, ii) the Appltcant mtist eiisure that ttta ~~uertoe of names as f!lelltione<I i·rr the Application Form matches the sequence ot rn1JJ1e 'helcl with our Depository ?artlcipant iiQ ii' lhe names ol ll're Applicant in this <l?Pli!'.<llibll are: no! idenUtal and also net in the same order as the Beneficiary Acoount ~eta11s Wilh ihe SbOve me11tioned Oeposltery PMIOipant or if lhe Oehentures cannol Ile c~dite\I to our llenefioiary Aceoont tot any reason wna!Soever, IM Q)mpany snail be entiOed at its sole discretion to re)ed the app~tion or tssue the Oe'h11mures in plws1tal form.
We unoefStaoo !hat we are assuming on our own aacqunl. all !'Is~ of loss !h~t May occur or be $t1fft!!red by us l11el1Jding as to lbe tetums on andlor ll)e sale value of the Oebent\JJes ahdi shall not !oa.k dfrectiy or in!lireony to !tie ~11y pelS(ln ti) indemnify of otherwise hofd us harml'* In resi:iect of any Sllllh lQSS allif/or damage. We undertake that Upon sale or transfer to subsequent investor Of fransieree ('1ransleree''), We shall co.ovey all !he terms am! conditions cont,ained ll~ln and lB lhls Information Memorandum tp such T ransfen;&- 111 lhe event ,ot any Transferee (including any intermedfall; Of" final hQlder of the Debentures) suir>g the Issuer ~o-r any person ;oeting on its or llie1r bellalij we -$tlell inllemn1fy me Issuer ~ <1lso l!oJd tile Issuer ;wd ei\Ct1 or such. ,a_ffeCloo pei'sol\(9) h~rrnless in respecl•of any claim by any Traosfefl*?.
Ap)lllca11rs Signature
(Tear here) _________ _ ACl<NOWUPGEMENT SLIP
Applicatlon fQflTl seflal No-: __
Name al me A~plic.;nt Address ofllle Appfitant
Ootalls se/ies No of deberttures applied ..@lta~ts' No. al -IJetientures appfied !inW6[dsl Amour11 · Rs-1rt fio1t~sl Amollnt RS. ill Wi:lf'ds) Cheque/Demand Dl'aft/RTGS Details Dale Drawn on Bank RI ail further i;ci dence 1lea.se contact; The CQm p iance Officer, GGo
Oale ___ _
-
a"Ce:S Privele timile1:! Umltec
Privaia a.nd eonfiaential- for private circulatron only
lNSTRUCTIOt45 1. You must romplete applicat!on in full In· BLOCK LcnERS IN ENGLISH, 2. Your Signatures should tie in English orin any of tfle ·Indian languages. 3. Appllcati0J1 forms <J.uly completed in all respects. together with Ctieques/Pay Orller/DE!mand Draft, must be lodged at the Registere<l Office of the Company. 4. In case of paymMts through RTGS, the payments may be made as ·fQllows;
Beneficiary Name. Bank Account No. !FSCCODE SWIFT Bank Name Branch Address
GCoq> Spaces Private limited 00762000014168 HDFG0000076 HDFClNB6 HDFC Sank ,limited Post Box No. 5106, Shankaranarayan Buildlrlgs, .25/1, MG Road, Baflgalore - .560001. Karnatak'a
Private and Conffdential-for private circuJlltion only
ANNEXURE IV:
AUOITE.D FINANCIAL STATEMENTS OF THE ISSUER FOR THE FINANCIAL YEAR'ENDED MARCH 31, 201:1
AND
AUDITED FINANCIAi,. STATEMENTS OF THE ISSUER FOR THE FINANCIAL YEAR ENO.ED MARCH 31, 201A
and
AUDITED FINANCIAL STATEMENTS OF THE ISSUER FOR THE FINANCIAL YEAR ENDED MARCH 31, 20lS
A.NO
LIMITED REVIEW HALF YEARLY srANDALONE FINANCIAL RESULTS AS ON SEPTEMBER 30, 2015