209 HERITAGE FOODS LTD | 32ND ANNUAL REPORT 2023-24 Standalone STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS (ii) Reconciliation of interest accrued but not due on term loans from banks For the year ended 31 March 2024 31 March 2023 Balance at beginning of the year - - Interest expense for the year 20.52 - Interest paid during the year 20.52 - Balance at end of the year - - (iii) The Company has been sanctioned working capital limits in excess of ₹5 crores by banks and as required under the respective arrangements, the Company has filed quarterly statements, in respect of the working capital limits with such banks and such statements are in agreement with the unaudited books of account of the Company for the respective periods. (iv) Deferred Payment Liabilities represents sales tax collected under deferment scheme which the Company is obligated to repay in 14 yearly instalments starting from September 2011 and ending by September 2024 in case of its Gokul plant and in 14 yearly instalments starting from November 2010 and ended by November 2023 for its Bayyavaram plant. The Company has created a charge on its specified fixed assets. 18(a) Terms and conditions of term loans from banks Name Interest rate (%) Terms of repayment Type of security Outstanding balance as on* 31 March 2024 31 March 2023 Bank of Baroda One year MCLR +0.25% per annum Repayable in 24 quarterly instalments commencing from March 2024 Mortgage of Shamirpet plant and charge on plant and machinery of Shamirpet plant 276.35 - ICICI Bank One year MCLR +0.10% per annum Repayable in 24 quarterly instalments commencing from June 2024 - First charge by way of equitable mortgage over the identified immovable fixed assets - First charge by way of hypothecation of movable fixed assets of above identified immovable fixed assets. 606.92 - 883.27 - *Including current maturities of term loans from banks. 18(b) Terms and conditions of loans repayable on demand from banks Name Interest rate (%) Type of security Outstanding balance as on 31 March 2024 31 March 2023 ICICI Bank Six months MCLR + 0.50% per annum First pari passu charge on current assets and second pari passu charge on fixed assets of the Company, excluding project specific assets. - 292.95 Bank of Baroda One year MCLR + 0.25% per annum - 369.32 Union Bank of India One year MCLR + 0.10% per annum - 202.73 Kotak Mahindra Bank 6 Months MCLR + 0.30% per annum - 78.51 HDFC Bank One Month MCLR + 2.01% per annum - 50.07 ICICI Bank 3 Months MCLR + 0.50% per annum Unsecured - 250.00 - 1,243.58 Summary of the material accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated)
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