Page 207 - Kolte Patil AR 2019-20

Notes forming part of the Consolidated Financial Statements

b) Optionally Convertible Debentures
15% Optionally Convertible Debentures (OCD)
*47,49,447 (March 31 , 2019 - 5,438,909) Optionally convertible debentures of ` 100 each fully paid carrying interest @ 0% p.a.(March 31,
2019 - 15%)

As at As at
Series Date of Issue Date of Issue March 31, 2020 March 31, 2019
OCD Series B March 28,2014 March 28,2014 4,749,447 5,438,909
Total 4,749,447 5,438,909

Only upon completion of 4 years from the date of issue , the Debenture holders shall have a right to convert optionally convertible debentures
into equity shares of the Company. The premium on redemption, if any, will be decided by the Board of Directors at the time of Redemption
of OCD’s.
During the year 2019-20, the Company has redeemed 689,462 Optionally Convertible Debentures Series B at face value amounting to
` 689.462 Lakhs.
The Debentures are secured by mortgage of piece and parcel of property in pune.
*- On board meeting held on September 10,2019, it was discussed and resolved, to reduce the carrying interest rate of OCD (Series A & B)
from 15% to 0% from July 2019 onwards.

c) Unsecured Borrowings
(i) 7,77,18,354 (March 31, 2019 - 80,513,874) 15% Optionally Convertible Debentures (Series A-H) (unsecured)
Number of Number of
Amount as on Amount as on
Debentures Debentures
Name of Debenture Holder March 31, 2020 March 31, 2019
oustanding as oustanding as
(H in Lakhs) (H in Lakhs)
on March 20 on March 19
Series A - C OCD’s
India Advantage Fund- III 34,046,659 2,116 34,046,659 3,251
India Advantage Fund- IV 22,697,772 1,410 22,697,772 2,165
Umedica Investment Service Private Limited - - 5,674,443 542
Total 56,744,431 3,526 62,418,874 5,958
Series D - G OCD’s
India Advantage Fund- III 9,870,000 646 9,870,000 987
India Advantage Fund- IV 6,580,000 430 6,580,000 658
Umedica Investment Service Private Limited - - 1,645,000 165
Total 16,450,000 1,076 18,095,000 1,810
Series H
Umedica Investment Service Private Limited 4,523,923 452 - -
Total 4,523,923 452 - -
Grand Total 77,718,354 5,054 80,513,874 7,768

Annual Report 2019-20 | 205