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CORPORATE DEBT RESTRUCTURING (CDR) CELL

(Name of the Company)


Referring Inst./Bank: ______
Lead Institution: ______
Lead W. C. Banker: ______
I. INTRODUCTION & BACKGROUND
1.1

Promoters, location of units and installed capacities, date of incorporation, date of


commencement of commercial production, etc. Institutions and banks involved.

1.2

Brief operating history. Reasons for delays in stabilisation of commercial


production (where applicable).

1.3

Whether any action initiated by regulatory agencies. Areas of concern in the


working of the company/group (if applicable):
Particulars

Comments

Adverse movement in funds flow


Interlocking of funds
NPAs among associate concerns
Any other adverse features (RBI defaulter's/wilful
defaulters list, ECGC's caution, SEBI strictures, etc.)
1.4

Previous efforts for restructuring and reasons for failure of such efforts (if
applicable).

1.5

Major problem areas.

1.6

Background leading to the extant reference and progress thereof (meetings held and
major decisions taken thereof).

(Name of the Company)


Final Restructuring Scheme

: 2 :

II. WORKING RESULTS AND FINANCIAL POSITION


2.1

Working Result
(Details as per Annexure I)

Period ended
Net sales
Gross profit/(loss) (oper.)
Interest/lease rent
Depreciation
Operating profit/(loss)
Non-oper. Income/(loss)
Adjustments
Tax
Net profit/(loss)
PBILDT/Net Sales (%)
PAT/Net Sales (%)
2.2

I year

II year

(Rs. lakh)
III year

Financial position
(Details as per Annexure II)

As at
Net fixed assets
Investments
Current assets
Current liabilities
Long-term liabilities
Net worth

I year

II year

Net worth represented by


Share capital
Reserves
Misc. Exp. not w/off
Accumulated losses
Net worth
Debt-equity ratio
Current ratio
FACR
2.2

Comments on financial position and working results.

2.3

Industry comparison (capacity utilisation, profit margins etc.)


III. MANAGEMENT & SHAREHOLDING PATTERN

3.1

Profile of promoters, their experience and financial resourcefulness.

3.2

Board of Directors

(Rs. lakh)
III year

(Name of the Company)


Final Restructuring Scheme

: 3 :

3.3

Core team of professionals, number of workers.

3.4

Shareholding pattern

3.5

Group/associate companies, respective areas of operations and installed capacities


thereof. Comments on performance of group/associate companies.

3.6

If co-promoter is being inducted, details in respect of the co-promoter (name/group,


experience in the industry, extent/status of commitment, financial resourcefulness,
brief details of group companies, etc.)
IV. DUES POSITION
(as on cut-off date)

4.1

Secured term loans (Institution/bank-wise)

4.2

Working capital dues (Bank-wise)

4.3

Statutory and workers dues

4.4

Unsecured loans, lessors, etc.

V. REASONS FOR POOR PERFORMANCE/TIME-OVERRUN/COST-OVERRUN


(as the case may be)
5.1
Major reasons
5.2

Critical factors requiring close monitoring in future.

5.3

Safeguards provided in the present scheme.


VI.

6.1

VALUATION OF ASSETS
(as on __________)

Name of the valuer. Valuation:


Land

Building

Plant &
Machinery

Current
Assets

(Rs. lakh)
Total

Realisable value
Replacement value
Distress sale value
Fair market value

Tangible Assets

(As going concern)


*
Value of brands, goodwill, etc.
6.2

Comments on valuation

Intangible assets*

Total

: 4 :

(Name of the Company)


Final Restructuring Scheme

VII. RESTRUCTURING SCHEME


7.1

Salient features (details to be given institution/bank-wise as far as possible):


i)

Cut-off date

ii)

Business restructuring (taking into account the extant market conditions and
future outlook for the industry).

iii)

Sale of surplus assets/investments

iv)

Reduction in rates of interest on term loans/working capital borrowings

v)

Reschedulement of principal

vi)

Conversion of irregular portion of W. C. limits into Working Capital Term


Loan (WCTL) and repayment thereof

vii)

Conversion of overdue interest into various instruments


Debentures/Preference Shares/etc.) and repayment terms thereof

(like

viii) Conversion of overdue interest into equity and post-conversion shareholding


pattern
ix)

Conversion of future interest into various instruments and repayment thereof

x)

Waivers

xi)

Sacrifices

xii)

Fresh term loan(s) and repayment schedule(s) thereof

xiii) Fresh working capital borrowing


xiv) Promoters contribution and sources thereof
xv)

Upfront payment:

xvi) Additional security


xvii) Security conditions (may include pledge of promoters' equity in the Co.)
xviii) Statutory compliance
xix) Right of recompense
xx)

Right to reverse the waivers

(Name of the Company)


Final Restructuring Scheme

: 5 :

7.2

The cost of scheme and means of finance envisaged:


I year

II year

III year

(Rs. lakh)
Total

Cost of Scheme
Capital Expenditure
Upfront payment to FIs/banks
Repayment of FIs/banks' dues
Additional M. M. for W. C.
Others (please specify)
Total
Means of Finance
Promoters contribution
- Equity
- Unsecured loans
Fresh investment by co-promoter
- Equity
- Unsecured loans
Sale of surplus assets/investments
Fresh Term Loans(s) (FI/bank-wise)
Fresh W. C. Borrowing (bank-wise)
Internal accruals
Others (please specify)
Total
7.3

Promoters' contribution as a %age of the 'Cost of Scheme plus Waivers and


Sacrifices of Secured Creditors'.

7.4

Details of working capital requirement and financing thereof.

7.5

Details of fresh assistance to be sanctioned (institution/bank-wise)

7.6

Details of the fixed assets (land, building and machinery) and investments (to be
listed at Annexure III) which are proposed to be sold as part of the Restructuring
Scheme.

: 6 :

7.7

(Name of the Company)


Final Restructuring Scheme

Constitution of an Asset Sale Committee (ASC) comprising members from the


company, Lead bank, Lead Institution, Institution/bank which had made a reference
to CDR Cell and, if required, from the State Government concerned.

7.8

Other details of the Restructuring Scheme.


VIII. ADDITIONAL CONDITIONS

8.1

Additional conditions

8.2

Monitoring of the Restructuring Scheme


IX. VIABILITY

9.1

Technical Appraisal (technology adopted, capacity vis--vis minimum economic


size, technical collaboration/major contractors, adequacy of infrastructure,
availability of raw material, utilities, etc.)

9.2

Marketing Appraisal (past demand/supply analysis, demand/supply outlook for the


future, major players in the industry, industry comparison, international scenario,
etc.)

9.3

Financial Viability: (financial parameters viz; ROCE, DSCR, IRR and COC in
terms of CDR circular No1. dated January 28,2004)

9.4

SWOT Analysis

9.5

Conclusions

X. DETAILS OF RELIEFS AND CONCESSIONS: INSTITUTION/BANK-WISE


A.

Institutions:

B.

Banks:

C.

State Government:

D.

Government of India:

E.

Workers:

F.

Company/Promoters/Co-promoter(s):

G.

Others:
(Unsecured lenders, lessors, etc.)

: 7 :

(Name of the Company)


Final Restructuring Scheme

XI. PROFITABILITY PROJECTIONS AND VIABILITY


11.1

Stabilization of operations. optimum capacity utilisation, etc.

11.2

Critical ratios like Average DSCR, Debt/Equity Ratio, Fixed Asset Coverage Ratio,
Break-even point, Cash break-even point, Earnings per share and IRR (for new
projects).

11.3

The assumptions underlying profitability, projected profitability statement, cash


flow statement and balance sheet, enclosed as Annexures IV, V, VI & VII
respectively.
*****

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