Debentures are one of the frequently used methods to procure long-term funds for the initial financial needs or for the subsequent requirements of growth and modernization. The residual portion of secured redeemable non-convertible debentures under private placement during earlier years along with interest accrued is ` 494.67 lakhs as on 31st March, 2016. The debentures issued are secured by way of floating charge on the current assets of the Company.
The Company has appointed Mr. A Gopalakrishnan, Chartered Accountant, M/s. K. Venkatachalam Aiyer & Co., Chartered Accountants, Bldg. 41/3647B, Providence Road, Kochi, Kerala - 682 018, to act as trustees for ensuring that the interests of debenture holders are protected.