This document provides details of the credit facilities and outstanding loans for Fertichem Cotspin Limited from State Bank of India (SBI), Punjab National Bank (PNB), and Oriental Bank of Commerce (OBC). As of December 2015, the total outstanding across the three banks was Rs. 98.97 crore. It proposes a one-time settlement of Rs. 8 crore to PNB, which would settle the principal outstanding of Rs. 28.24 crore as of September 2015. The settlement amount would be paid within 12 months in a phased manner to all three banks to settle the total outstanding and have all securities released.

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BLUE OCEAN STRATEGICADVISORIESPVT LTD
WRITE UP
FERTICHEM COTSPIN LIMITED
PIBM-49
[Pick the date]

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TABLE OF CONTENTS
Contents
INTRODUCTION:.................................................................................................................................3
OVERALL SUMMARY...........................................................................................................................3
DETAILS OF CREDIT FACILITIES.........................................................................................................3
ONE TIME SETTLEMENT TO THE LENDER DETAILS .............................................................................4
SUMMARY OF SBI SHOWCASE (MARCH 16) ......................................................................................5
OUTSTANDING OF BANKS AS ON 31.12.2015....................................................................................5

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INTRODUCTION:
IN 1999-2000: Started opening end spinning with loans from SBI & OBC
2006-07: The loans were fully paid
2007-2008: Started ring spinning with loans from SBI, OBC & PNB
2009: CDR restructuring mainly due to global slowdown.
2014-2015: Started suffering because of subsidies to New Units in the states of
Gujarat, Maharashtra, MP, Rajasthan, Maharashtra etc.
24.07.2015: NPA with SBI has done 100% provisioning
Dec 2015: OBC showcased in ARC for Rs 30 crore against outstanding of Rs 33
crore which is a good attempt.
Mar 2016: SBI showcased in ARC for Rs 20.65 cr against outstanding of Rs 35 cr.
OVERALL SUMMARY:
TOTAL outstanding as on 30th sept 2015 was Rs 96.97 crore. (PNB Rs 28.24 cr,
SBI: Rs 35.85 cr, OBC: Rs 32.88 cr.
DETAILS OF CREDITFACILITIES:
DETAILS PNB SBI OBC TOTAL
Working capital
limits
11.19 25.28 23.26 59.73
Term loans 17.05 10.57 9.62 37.24
Interest
Outstanding
0.87 0.78 0.40 2.05
TOTAL 29.11 36.63 33.28 99.02
PERCENTAGE 29.40% 36.99% 33.28% 100.00%
ALLOCATION
OF OTS AMT
7.94 9.99 9.07 27.00

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IN CRS 8.00 10.00 9.00 27.00
Present Valuation of the company is about 10crs-15crs
ONE TIME SETTLEMENT TO THE LENDER DETAILS:
SETTLEMENT AMOUNT Rs 8 cr as against the principal outstanding ofRs 28.24 crs
as on 30th September 2015 i.e the date of NPA
PAYMENT SCHEDULE The offered payment would be made
within 12 months without any interest
5% of the offered amount will be
deposited within one month from the date
of receipt of sanction from all the 3 banks
in the no lien account
Balance amount will be deposited within
12 months from the date of receipt of the
last acceptable sanction
RELEASE OF SECURITIES On payment of the entire settlement
amount, all the remaining securities held
by the lenders in the form of either
primary/collateral or guarantees will need
to be released or to be assigned in the
favor of an investor.

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SUMMARY OF SBI SHOWCASE (MARCH 16)
The total SBI share is 36%.
Total 67.45% (Distress Value)
SBI share @ 36% 24.28
Further concession @15% 3.64
R.P 20.64
OUTSTANDING OF BANKS AS ON 31.12.2015
PNB 28.99
OBC 34.87
TOTAL 63.86
SBI 35.11
TOTAL 98.97

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