manual on corporate finance

7/30/2019 manual on corporate finance

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MANUAL

ON CORPORATE FINANCE

FOR WORLDS WINDOW GROUP

DRAFTED BY

CORPORATE FINANCE TEAM

APPROVED BY


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Objective

The objective of this manual is

1. To define internal process of obtaining Term Loans, Working Capital Finance,Bills/Invoice discounting, Foreign Bill for Collection, Letter of Credit, Bank Guarantees

etc from banks / NBFCs for the group.

2. To minimize and define the time involved in scrutiny and appraisal of proposals for loansand other banking facility.

3. To ensure compliance to bank policy & RBI norms of various products.4. To ensure completeness of all agreements, hypothecation documents and other support

documents including KYC requirements.

5. Proper and timely management of the fund requirement of the group through fund raisingfrom Banks, NBFCs and Fls.

6. Ensure smooth operations with respect to group's banking relationships.7. To define the Financial MIS and highlighting the deviations from original plans /

assumptions.

8. Creating awareness with respect to financial discipline at group level.


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Index

Definitions

1. Process Flow of Proposalsi) Fresh Loansii) Renewals of existing facilitiesiii)Enhancement of facilitiesiv)Adhoc Limits

2. Treasury Management Processi) Buyers Credit / Suppliers' Creditii) Hedging Foreign exposureiii)Managing Cost of borrowingiv)Effective FDR and cash managementv) Risk ManagementReceivables and Payable Management

3. Compliance4. Documentation5. Filing and retention of documents6. Credit Rating7. Various Products AvailableECB, Mezzanine Finance, LC, BG, FCTL, WCDL.


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Definitions

Definitions / Acronyms

WWCC : Worlds Window Credit Committee

BG : Bank Guarantee

LC : Letter of Credit

WWG : Worlds Window Group

SPAG : Strategic Planning and Advisory Group

NBFC : Non Banking Financial Company

IPO : Initial Pubic Offer

ECB : External Commercial Borrowings

FCNR(B) : Foreign Currency Non Resident ( bank) account


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Chapter 1 : Process Flow of Proposals

This chapter contains details of the process that should be followed in availing Fresh credit

facilities, Renewals of credit facilities, Enhancement of facilities and Adhoc limits by each group

company of WWG.

1 (a) Fresh Credit Facility

The following process shall be adopted for availing new credit facility by group companies

1. The business plans of all proposals requiring fund raising whether for new business or anexisting business shall be approved by SPAG.

2. For availing fresh credit facilities the CEO / CFO of respective company shall intimatethe Corporate Finance Team about the proposal. The proposal shall contain detailed

business plan , justification for availing new facility, future requirements and other

ancillary information.

3. The proposal shall be discussed in detail by business team of the respective companywith Corporate Finance Team to arrive at consensus as to objective and other issues.

4. The proposal shall then be discussed with Group CFO for its financial aspects and itsonwards process.

5. The Corporate Finance Team along with the business team will process the requestincluding approval from Group CFO within 14 days from the date of receipt of above

mentioned proposal and place it before WWCC. In case all the information is ready at the

time the proposal is intimated to Corporate Finance Team , the same will be processed

within 3 days.

6. The Corporate Finance team shall prepare the documents mentioned in Table 2.1


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7. WWCC shall be chaired by Mr. Piyoosh Goyal. Other members of the WWCC shall be asper the below mentioned table

S. No. Name Particulars

1 Mr. Piyoosh Goyal Chairman

1 Mr. Anil Mishra Member

2 Mr. Ramesh Bhatt Member

3 Mr. Kapil Jain Member

4 Mr. Sunil Maheshwari Member

5 CEO / CFO of respective company Presenter

6 Representative of Corporate Finance Team Presenter

8. The proposal shall be presented to WWCC at least 48 hours before discussion.9. Any recommendations / amendments given by the WWCC would be incorporated in the

proposal.

10.Corporate Finance Team will process the proposal as per T& C decided in WWCC.11.Group CFO shall have the powers to approve any deviations in the terms and conditions

of proposal approved by WWCC.

12.Group CFO will also authorize person to revert on bank's observations on credit facilityapplication.


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13.Approval from Group CFO shall be required in case of any undertaking, declaration ,board resolution or any specific information asked by the Banks / NBFC.

14.The delegation matrix for approving expenses related to new facility from bank shall beas per the Annexure I.

15.Corporate finance team shall provide necessary / routine forms , information, letters etc.on behalf of the respective company to the bank / NBFC except those mentioned in point

13.

16.On completion of all necessary formalities, the bank will provide us sanction letter.17.On receipt of sanction letter by Corporate finance team , the terms an conditions

mentioned in it shall be compared with the draft T&C as approved by WWCC.

18.A copy of sanction letter shall be provide to CFO / CEO of respective company and theGroup CFO shall be intimated about that. Original copy of sanction letter shall be kept

with Secretary of Group CFO.

19.Post sanction activities / processes are mentioned in Chapter no 5 on compliance.

Table 1.1

S. No. Document required to be collected

1 Company Profile/Detailed background

2 Promoters/Partners & Key Management Profile along with shareholding pattern

3 3 years financial of Group companies

4 CMA Sheet/ Projections for four years


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S. No. Document required to be collected

5 3 year Financials alongwith annexure and audit report

6 Current performance and provisional financial from next year till date with

schedules.

7 Work Orders/ Project Undertaken & executed

8 Repayment track records

9 Bank Details with limits + statements of 6 months

10 Memorandum of Association and Article of Association/Partnership Deed

11 KYC of Directors/Partners ie. ID and Resi Proof

12 Top 5 Debtors List with details

13 Top 5 Creditors List with details

14 Ratings Rationale

15 Term Loan Details

16 Working Capital Details (Sanctioned, Utilized, with sanction letter copies )

17 Networth Certificate for Guarantor

18 Any other form / certificate as required by the Bank / NBFC


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1 (b) Renewal of facilities

The following process shall be adopted for renewal of facilities by the group companies:

1. Corporate Finance Team shall keep a track of facilities due for renewal. Since the banks /NBFCs need two months for processing such request for renewal and our internal

processes will need one month, the renewal proposal shall be initiated three months

before the due date of renewal.

2. A mail will be sent by Corporate Finance team to respective company in the seekingrenewal of facilities from bank / NBFC.

3. CFO / CEO shall communicate the confirmation along with justification and future plans.4. On receipt of confirmation from the CFO/ CEO of the respective company, the same

should be discussed with Group CFO.

5. The Corporate Finance Team along with the business team will process the requestincluding approval from Group CFO within 14 days from the date of receipt of above

mentioned proposal and place it before WWCC. In case all the information is ready at the

time the proposal is intimated to Corporate Finance Team , the same will be processed

within 3 days.

6. Corporate finance team shall prepare the necessary documents as mentioned in Table 2.2for renewal of facilities.

7. The proposal shall be presented to WWCC at least 48 hours before discussion.8. Any recommendations / amendments given by the WWCC would be incorporated in the

proposal.

9. Corporate Finance Team will process the proposal as per T& C decided in WWCC.10.Group CFO shall have the powers to approve any deviations in the terms and conditions

of proposal approved by WWCC.


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11.Group CFO will also authorize person to revert on bank's observations on credit facilityapplication.

12.Approval from Group CFO shall be required in case of any undertaking, declaration ,board resolution or any specific information asked by the Banks / NBFC.

13.The delegation matrix for approving expenses related to new facility from bank shall beas per the Annexure I.

14.Corporate finance team shall provide necessary / routine forms , information, letters etc.on behalf of the respective company to the bank / NBFC except those mentioned in point

12.

15.On completion of all necessary formalities, the bank will provide us sanction letter.16.On receipt of sanction letter by Corporate finance team , the terms an conditions

mentioned in it shall be compared with the draft T&C as approved by WWCC.

17.A copy of sanction letter shall be provide to CFO / CEO of respective company and theGroup CFO shall be intimated about that. Original copy of sanction letter shall be kept

with Secretary of Group CFO.

18.Post sanction activities / processes are mentioned in Chapter no 5 on compliance.Table 1.2

S. No. Document / informations required to be collected

1 Latest Shareholding pattern of the company.

2 Top 10 customers for current financial year along with sales and year of

associations with each clients.

3 Any expansion plan for future or new strategic development plans of the company.


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S. No. Document / informations required to be collected

4 Group company Financial details for current FY.

5 Quarterly sales break-up for current FY.

6 Latest key financials

7 Signed projection for next three years.

8 Debtors aging as last FY along with status of recovery for the same.

9 Debtors aging as on September 30, of current FY along with status of recovery for

the same.

10 Any change in banking exposure with the existing limits.

11 Copy of latest sanction letters of all the loans.

12 Information about the company getting long term contract for servicing to its

clients.

13 Latest fleet list in the standard Logistic program format (Only for logistic company)

14 Repayment schedule of long term loans appearing as on B/S of last FY for each

loan separately.

15 Segment wise break up of total income

16 Explanation regarding decrease in profits or targets not met (if any)

17 Any other information specific to company.


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1 (c) Enhancement of facilities

The process for enhancement of facilities will be same as renewal of facilities for the group

companies. The process shall be initiated at the receipt of request from the concerned CEO /

CFO of respective company.

1 (d) Adhoc limits

The process of obtaining adhoc limit shall be as mentioned below

For availing fresh credit facilities the CEO / CFO of respective company shall intimate the

Corporate Finance Team about the proposal. The proposal shall contain justification for availing

adhoc limits , future requirements and other ancillary information. The proposal along with the

detailed business plan shall be submitted to Group CFO on the same day for approval. After

getting the approval the proposal submitted to the Bank / NBFC for availing adhoc credit facility.

1 (e) Equipment Loan1. CFO/ Head F & A will forward a mail to corporate finance team regarding there requirement

of equipment finance facility and mail shall be copies to Group CFO & Group VP (Finance).

The requirement of equipment finance must be approved by the SPAG/ Purchase committee

of Worlds Window Group.

2. After receiving request from company corporate finance team will initiate discussion withBank/ FIs for equipment finance facility.

3. After receiving indicative offer from Bank/ FIs the corporate finance team will take approvalfrom as per authority matrix given below. The corporate finance team will take approval

regarding Amount of finance, Percentage of Finance, Tenure of Finance, Margin Money, Rate

of Interest, Authorised signatory to sign & execute documents on behalf of the company &

other terms and conditions. The approving authorities are as follows:

Sl No Limit Approving Authorities


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1 Upto Rs. 5.0 crore

2 Rs. 5.0 crore to UP to Rs. 10.0 crore

3 Above Rs. 10.0 crore

4. After receiving approval the corporate finance team will forward required documents toBank/ FIs for sanction of facility. After sanction of facility the disbursement process will be

followed as per details given in in chapter4.

1 (f) Corporate Loan1. CFO/ Head F & A will forward a mail to corporate finance team regarding there requirement

of equipment finance facility and mail shall be copies to Group CFO & Group VP (Finance).

The business plan of corporate loan facility must be approved by the SPAG/ Internal

Finance Committee of Worlds Window Group.

2. After receiving request from company corporate finance team will initiate discussion withBank/ FIs for corporate loan facility.

3. After receiving indicative offer from Bank/ FIs the corporate finance team will takeapproval from as per authority matrix given below. The corporate finance team will take

approval regarding Amount of finance, Percentage of Collateral, Tenure of Finance, Margin

Money, Rate of Interest, Authorised signatory to sign & execute documents on behalf of the

company & other terms and conditions. The approving authorities are as follows:




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4. After receiving approval the corporate finance team will forward required documents toBank/ FIs for sanction of facility. After sanction of facility the disbursement process will be

followed as per details given in in chapter4.

1 (g) Vehicle Finance/ Refinance

1. CFO/ Head F & A will forward a mail to corporate finance team regarding there requirementof vehicle finance/ refinance facility and mail shall be copies to Group CFO & Group VP

(Finance). The requirement of vehicle finance/ refinance facility must be approved by the

SPAG/ Purchase committee/ Commercial Committee of Worlds Window Group.

2. After receiving request from company corporate finance team will initiate discussion withBank/ FIs for vehicle finance/ refinance facility.

3. After receiving indicative offer from Bank/ FIs the corporate finance team will take approvalas per authority matrix given below. The corporate finance team will take approval regarding

Amount of finance, Percentage of Finance, Tenure of Finance, Margin Money, Rate of

Interest, Authorised signatory to sign & execute documents on behalf of the company &

other terms and conditions. The approving authorities are as follows:






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4. After receiving approval the corporate finance team will forward required documents toBank/ FIs for sanction of facility. No disbursement will be done prior to the Hypothecation of

RC and Endorsement of Insurance in favour of Bank/ FIs. The sanctioned facility can only be

disbursed after the commitment of CFO/ Head F& A for Hypothecation of RC and

Endorsement of Insurance in favor of Bank/ FIs with in stipulated period of time.

5. The post disbursement activities are mentioned in chapter4.

Note: For all the proposals not falling under any of the above mentioned heads , approval

from Group CFO shall be required before proceeding.


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Chapter 2 : Treasury Management Process

This chapter contains details of the process that should be followed in availing Buyers Credit /

Suppliers Credit,Hedging Foreign exposure, Managing Cost of borrowing, Effective FDR and

cash management and Risk Management.

2 (a) BUYERS CREDIT

About Buyers Credit

Buyer's credit is the credit availed by an Importer (Buyer) from overseas Lenders i.e. Banks

and Financial Institutions for payment of his Imports on due date. The overseas Banks

usually lend the Importer (Buyer) based on the letter of Credit (a Bank Guarantee) issued by

the Importers (Buyer's) Bank. The Importers Bank issues the letter of comfort on behalf of

the importer in favour of the Overseas lender for providing buyers credit facility. The

importers bank charges fee/commission for the letter of comfort.

Buyers credit enables the access of importers to cheaper foreign funds. The buyers credit is

normally cheaper than the borrowing cost in Rupees. Thus, the buyers credit facility adds to

the competitive advantage of the business by reducing the fund cost.

Need for manual

Worlds Window Group is availing buyers credit facility to smoothen the import requirement

of all the group companies. Preparation of the manual is to list down the periodical activities

which must be accomplished for smooth and effective operation of buyers credit facilities.

2) Request from the Company (Day-1)The company will send request to corporate finance team at [email protected]

and will mark copy to DGM Finance & CFO about their buyers credit requirement in the

format mentioned in annex. II


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3) Sending Request to Bank/Brokers (Day-1)After receiving request from group companies the corporate finance team will forward

request to various Banks/FIs/ Financial Consultants for best & competitive quotes on the

same day. The quote will be forwarded to minimum two agencies.

4) Follow Up for best Quotes. (Day-2)After forwarding request to Banks/FIs/ Financial Consultants for quotes corporate finance

team will follow up for best quotes and the corporate finance team will ensure that the

best quote is received in three working days. In case of any urgency the company need to

follow up with Corporate Finance Team.

5) Selection of Best Quotes. (Day-2)The best quote will be selected by Corporate Finance Team among the available quotes.

6) Approval Authorities for Acceptance of Quotes. (Day-2)The approval authority will approve the best available quote before forwarding the quote

to company. The approving authorities are as follows:

Sl

No

Limits Interest Rate Approving

Authorities

1

Up to 1 Lacs

USD

Up to Libor + 150

bps*

DGM Finance

2 Above Libor+150

bps

Group CFO

*exclusive of withholding tax, if applicable.

Sl Limits Interest Rate Approving


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No Authorities

1

Above 1 lacs

USD

Up to Libor + 100

bps*

DGM Finance

2 Above Libor+100 bps Group CFO

*exclusive of withholding tax, if applicable.

7) Confirmation for release of offer letterAfter receiving approval from competent authorities corporate finance team will mail to

Banks/FIs/ Financial Consultants to release offer letter & LOU format.

8) CommunicatingLOU format to company. (Day-3)After receiving LOU format and offer letter the same will be forwarded to company.

9) Sending LOU to Banker. (Day-4)The LOU format will be filled and forwarded to respective banker by the company before

the expiry of the buyers credit tenure.

10)SendingLOU to Overseas Banker. (Day-5)The company will follow up with banker for forwarding the filled LOU to overseas

banker.

11)Trackingof TransactionTracking of transaction will be done by the corporate finance team.

12)Due date of PaymentsThe company must ensure that payment will be done on due date. No delay in payment is

acceptable.


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2 (b) SUPPLIER'S CREDIT


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Chapter 3 : Compliances

This chapter contains the reports which would be required for developing a systematic and

organized management information system. This would give a brief insight of all the major

activities undertaken by the corporate finance team. The details of the reports which need to be

prepared for this purpose are as follows:

1) Status of Proposal

An excel sheet shall be prepared as per annexure VI. This report shall be submitted to CMD

twice in a week i.e. on Monday & Thursday for providing status of ongoing proposals.

2) Status of new Projects

Weekly reports shall be prepared regarding status of any new project, expansion , acquisition or

venture undertaken in WWG for monitoring and control purpose. It would be submitted to CMD

every week. However new developments shall be intimated immediately.

3) Submission of stock statements , FFR & QIS

Each company shall prepare MSOD / FFR / QIS as per the terms of bank facility and submitt the

same to the Bank at respective intervals. Before submission of these information a copy of the

same shall be forwarded to Corporate Finance Team for analysis. After getting approval from

Corporate Finance Team the MSOD / FFR / QIS shall be submitted by the respective group

company to the Banks. A copy of the MSOD / FFR / QIS submitted to the bank shall be

delivered to Corporate Finance Team for their records. Corporate Finance Team shall maintain

an excel sheet as per annexure III. This report shall help in tracking of stock statement & FFR as

well as Drawing Power. It will also help in checking whether the stock statements & FFR is

submitted on time to banks/FI of each respective group company of WWG. Also this will help in

tracking CC utilization by the group companies.

2) Renewal of proposals


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The report for renewal of proposals could be tracked through annexure VII. This report would

describe the time on which the proposals getting due for renewal and triggering time to initiate

the process of renewal of proposals for each group company of WWG at respective banks/FI's.

So that we can get the renewal done on time.

3) Data SheetData sheet would cover month wise sanctioned limit from banks/FI's, drawing power, stock,

debtors, sales and purchases to each group company of WWG. This data sheet would minimize

the time in compiling the information from different sources and give a deep insight in each

company with minimum efforts. Data sheet is enclosed in annexure 4.

4) Utilization sheetThis is a comprehensive sheet of all the funds taken by each respective group company from

various banks/FI's for financing the various activities carried by them. This sheet would include

fund based limit, non fund based limit & term loan. We can have month wise details of

sanctioned limit, drawing power, maximum utilization limit & minimum utilization limit of each

limit enjoying by the group company. This sheet could be tracked through annexure 5.

5) Insurance CoverageProper record shall be maintained for insurance cover on the collateral given for credit facility

availed from banks. For this a monthly report will be prepared for the insurance coverage of

stock, land & building and machinery.

6) Repayment of term loanA monthly report is generated on repayment of term loan whether the company is repaying its

debt obligations on time.

7) Variance AnalysisA report shall be formulated on variance analysis to know the difference between the projections

and the actual results. This report shall be prepared on quarterly basis.


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8) Other reports : Proper record shall be kept so as to control penal interest or any otherirregularity.


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Chapter 4 Documentation

This chapter contains the process regarding preparation, signing and submission of documents

required for obtaining bank facilities. The process regarding the documents normally required by

bank / NBFCs for processing credit facilities are mentioned as below:

Sanction Letter: Sanction letter shall be authorised as per the delegation matrix mentioned in

chapter 1.

Board Resolutions and authorisation in BR: The BR shall be prepared by the Company

Secretary of the WWG as per the specified format of the bank or as per regular format. Any

delegation of authority in BR shall be made only after prior approval from Group CFO.

Registration of Charges : After the sanction of the credit facility , Banks / NBFC require the

company to register the charge on property given as collateral / margin. Necessary forms ( form

8 , form 13 , form 17 etc) shall be filed with ROC/ MCA after intimating the same to Group

CFO. In case the bank / NBFC requires that the registration of charges shall be done by them or

their empaneled CA/CS, then we shall process the charge registration accordingly. The payments

with respect to charge registration shall be authorised as per the delegation matrix mentioned in

Annx. I . A copy of the form 8/ 13/17 along with the documents submitted for creation of charge

shall be retained with CS of the WWG.

Vehicle Loan / Equipment Loans : The following documents shall be retained by us withrespect to Vehicle Loans / Equipment Loans

Repayment Schedule Board Resolutions Photocopy of PDCs issued Details of Trade Documents in case of import of equipment / vehicles


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Chapter 5 : Filing and retention of documents

This chapter contains processes to be followed to file documents including deeds , agreements,

letters , copies of receiving from banks etc.

There would be separate files for each group company

For each proposal separate file will be maintained which will contain all the documents

pertaining the facility from application to the copy of final disbursement letter. The file will be

named in the style of COMPANY/ YEAR/BANK/NO. for eg. INFRA/09-10 / PNB//01.

Each such file shall contain an index sheet containing details of all communication , copy of

sanction letter , copy of title deed given as collateral , copy of PDCs etc. in date wise order. In

the initial column the person filing the documents will put his signature.

Index Sheet

S. No. Particulars Date of filing Initials

After disbursal of facility all papers shall be filed in the aforesaid file and the file will be closed

for further document filing. After closing the file, it will be kept in filling cabins. Further

communications and documents in respect of the facility shall be filled in respective company

file.

There would be separate file for day to day communication with Bank of each company in which

documents shall be filled day wise.

MSOD / FFR / QMS/ other monthly : soft copy .An online file would be created in shared /

common folder in network folder , it will contain all the soft copy of MSOD / FFR / QMS/ other

monthly records that we submit to banks / NBFCs.


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Chapter 6 : Credit Rating

This chapter contains the process to be followed for the credit rating of bank facilities. Credit

rating is an important exercise as it affects the cost of borrowings as well as any planning for the

company to go public.

To initiate credit rating , Corporate Finance team shall inform and take consent of the Group

CFO about following

1.Need for credit rating.2.Outstanding facility or facilities to be rated.3.Which rating agency to be appointed from amongCRISIL , CARE, FITCH , ICRA or anyother.

4.Quantum of fees charged by the rating agency including annual surveillance fee.5.Person to be authorized on behalf of group company to provide necessary informationincluding management discussion to rating agency and to sign various documents , forms ,

undertakings etc. to be submitted to rating agency.

6.Any other matter pertaining to credit rating.

On completion of rating , the rating agency will provide a preliminary rating along with rating

rationale . We have to analyze whether the rating truly reflects the financial strength of the

company or not. The rating along with rating rationale shall be communicated to Group CFO.

Group CFO shall decide whether we should accept the rating or not. Acceptance on behalf of

respective company rating shall be given by Group CFO to the rating agency.


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Chapter 7 : Various Products Available (ECB, Mezzanine Finance, LC, BG,

FCTL, WCDL)

1. ECB finance : The important aspect of ECB policy is to have flexibility in borrowings bygroup companies, at the same time maintaining the exposure limits at prudential level.

External Commercial Borrowings (ECBs) include bank loans, suppliers' and buyers' credits,

fixed and floating rate bonds (without convertibility) and borrowings from private sector

windows of multilateral Financial Institutions such as International Finance Corporation.

Euro-issues include Euro-convertible bonds and GDRs.

ECB can be accessed under two routes, viz.,

Automatic Route: This is available for following transactions

ECB up to USD 20 million or equivalent with minimum average maturity of threeyears

ECB above USD 20 million and up to USD 500 million or equivalent with minimumaverage maturity of five years

The maximum amount of ECB which can be raised by a corporate is USD 500million during a financial year.

Approval Route : If the transaction does not fall in Automatic Route then it shall be

processed through Approval from RBI route.

2. Foreign Currency Term Loan : FCNR (B) Loans are another source of cheap financeavailable to corporates from the Banks who are authorised dealers.

Key Benefits of availing FCNR (B) loans are lesser interest cost vis--vis Rupee borrowings

and the borrower is not required to go to the International market for raising the funds as

foreign currency funds are made available in India reducing the cost of raising such funds.

Broad purpose of loans

Corporates are allowed to obtain foreign currency denominated loans in India under the

above scheme for the following purposes:


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1.For meeting working capital requirements in Indian Rupees.

2.By way of pre-shipment advances/ post shipment advances to the exporters.

3.Import of raw materials.

4.Import of capital goods.

5.Purchase of indigenous machinery.

6.Repayment of the existing Rupee Term Loan.

7.Repayment of any existing ECB's with the permission from RBI, Govt. of India.

7. Mezzanine Finance: Mezzanine financing is basically debt capital that gives the lenderthe rights to convert to an ownership or equity interest in the company if the loan is not

paid back in time and in full. It is generally subordinated to debt provided by senior

lenders such as banks and venture capital companies. Since mezzanine financing is

usually provided to the borrower very quickly with little due diligence on the part of the

lender and little or no collateral on the part of the borrower, this type of financing is

aggressively priced with the lender seeking a return in the 20-30% range.

8. IPO : Initial public offer or issuing shares to public and registering the company is amatter of strategic importance. These decision shall vest with SPAG. A list of steps to be

taken along with time line is given in Annx. VIII to be followed by Corporate Finance

Team.


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Annexure I :

Delegation matrix for approving expenses related to Bank / NBFC facility

Table A: Approving authority for Valuation Report

S. No. Approving Authority Limit per report

1 DGM -Finance Upto Rs. 7500.00

2 Group CFO Above Rs 7500.00

Table B: Approving authority for Title Search Report:




Table C: Approving authority for CA / CS certificate obtained for the purpose of declaration

with respect to turnover, profit, project cost , net worth and board resolutions





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Table D: Approving authority for other legal report like engineer certificate, expenditure

certificate etc.





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Annexure II : Format for request from company for obtaining Buyers' Credit

S. No Particulars Details

1 Name of the Company/Opener

2 Document No

3 Document Date

4 Buyers Credit Amount

5 Seller's Name and Address

6 Expected/ Exact Due Date

7 Extension Period

8 BL No

9 LOU Opening Bank

10 Place of Shipment (POS)

11 Goods to be imported


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Annexure III: Date Sheet

Y Year MonthStock Statement FFR QIS 1

Target date Submission Date Deviation , I f any Remark Target da te Submission Date Deviation , I f any Remark Target date Submission Date Deviation , I f any

10-11

April

May

June

July

August

September

October

November

December

January

February

March

11-12

April

May

June

July

August

September

October

November

December

January

February

March


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Annexure IV : Data Sheet

FY S.No. Month StockDebtors Sales

Target Sales

Actual Sale s

Deviation, if more than 10% No of TEU's

Value (Rs In Lacs)

0-11

1 Apr il ,

2 May

3 June

4 July

5 August

6 September

7 October

8 November

9 December

10 January

11 February

12 March

1-12

13 April14 May

15 June

16 July

17 August

18 September

19 October

20 November

21 December

22 January

23 February

24 March

Sanctioned Limit

(Rs In Lacs)

Drawing Power

(Rs In Lacs)Less than 3 Months (Rs

in Lacs)

More than 3 months &

Less than 6 months (Rs

In Lacs)

More than 6 months

(Rs In Lacs)


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Annexure V : Utilization sheet

Y S.No. Month

Fund Based Limit Non Fund based Limit Term Loan

Sanctioned Drawing Power Max. Utilization Min. UtilizationBank Guarantee Letter of credit

Sanctioned Max. Utilization Min. Utilization Sanctioned Max. Utilization Min. Utilization Sanctioned Max. Utilization Min

0-11

1 April

2 May

3 June

4 July

5 August

6 September

7 October

8 November

9 December

10 January

11 February

12 March

-12

13 April

14 May

15 June

16 July

17 Augus t

18 September

19 October

20 November

21 December

22 January

23 February

24 March


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Annexure VI : Report for Status of Proposal

Annexure VII : Report for renewal of proposal

S.No. Handled by Nature of the Proposal Name of the bank Amount (Rs in Crores) Contact person Status as on 04 /01/

S. No Name of the Company Name of the Bank Sanction Amount ROI Date of Renewal MSOD Submission Dat


35/37

35

Annexure VIII : IPO Calendar


36/37

36


37/37

37