Nayara Energy Limited
Notes to Consolidated Financial Statements (Contd.) For the year ended March 31, 2020
Foreign currency monetary item translation difference account: Represents exchange differences arising on reporting of longterm foreign currency monetary items that are accumulated and amortised over the balance period of such long-term liability by recognition as income or expense in each such periods. Capital reserve: Capital reserve can be utilised for issuance of bonus shares. Securities premium : The amount in the account represents the additional amount shareholders paid for their issued shares that was in excess of the par value of those shares. The same can be utilised for the items specified under section 52 of the Companies Act, 2013. Foreign currency translation reserve: Represents exchange differences arising on translation of the foreign operations. The cumulative amount is reclassified to profit or loss when the foreign operation is disposed-off. 19 BORROWINGS (` in million) Particulars
As at March 31, 2020
As at March 31, 2019
23,920
23,860
79,485
102,835
3,305
-
(7,910)
(8,429)
98,800
118,266
Secured Borrowings - At amortised cost Debentures Non convertible debentures Term loans* From banks From financial institutions Current maturities of long term debt included under other financial liabilities (refer note 25) Total * refer note 42(C)(ii)for borrowings outstanding in foreign currencies. (A) Security for term loans and funded interest facilities from banks and debentures (` in million)
164
Sr No.
Particulars
As at March 31, 2020
As at March 31, 2019
i)
ECB loan is secured by first charge, ranking pari passu with other term lenders on all present and future immovable assets (except certain leased out assets and fixed assets of power plant), all present and future movable assets, security interest on the rights, title and interest under project documents, insurance policies and second charge pari-passu with other term lenders on the current assets.
12,861
23,166
ii)
Rupee and USD loan availed from various banks/ financial institutions are secured by first charge, ranking pari- passu with other term lenders on the fixed assets ( movable and immovable) , both present and future of the Company (except certain leased out assets and fixed assets of power plant). Second charge, pari- passu with other term lenders on the current assets of the Company, first charge by way of assignment or security interest over all rights, tiles, insurance and interest in all project documents to which the Company is a party, first charge on DSRA/ margin as and when created.
63,813
66,006
iii)
Non convertible debentures are secured by first charge, ranking paripassu with other lenders on the fixed assets (movable and immovable except certain leased out assets and fixed assets of power plant), both present and future of the Company in relation to Project, Second charge, pari- passu with other term lenders on the current assets of the Company, first charge by way of assignment or security interest over insurance policy.
23,920
23,860
Annual Report 2019-20