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 Rs. 53.77 lakhs as on 31st March, 2017. 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.