Non Convertible Debentures
- Default by issuer to pay interest or redemption amount: Due to extreme liquidity pressure, the Company has been making delayed payment of principal and interest.
- Failure to create a charge on the assets: The Company has created a charge in favour of Debenture Trustees by mortgage of property of its subsidiary situated at Survey no 1/1, Imarath Kancha of Ravirayala village, Maheshwaram Mandal , Ranga Reddy District, Andhra Pradesh and buildings situated thereon consisting of the factory building, Training Centre, Multi Utility Structure, Store Room, Canteen, Site Office, ATM centers, Temple and open plots bearing Nos. NP-4, NP-5, NP -6 and NP 7, P-01 to P-08, P-19 to P-36 and Parts of P-45 to P-50. However, as per circular 4/2013 dated 11th February 2013 of GOI, MCA the Company has not created liquid reserves of Rs. 2.106 Cr.
- Revision in rating assigned to the NCDs: The credit rating of the Company has been suspended.