Kesoram Industries Ltd. Files Regulation 54(2) Disclosure for Q3 2021, Addresses Non-disclosure of Security Details

Kesoram Industries Ltd. has filed a disclosure under Regulation 54(2) for the quarter ended December 2021, addressing the non-disclosure of the extent and nature of security created and maintained with respect to secured listed NCDs in the financial statements for the quarter and nine months ended December 31, 2021. The company has clarified its stance on not agreeing to pay any further fines in this matter. The total secured non-convertible debentures of the company outstanding as on December 31, 2021, are INR 1,457.15 Crores, secured by a first pari passu charge on all fixed assets, moveable assets, and intangible assets of the company. Additionally, the securities are further secured by pledge on equity shares of the company held by the promoters, a non-disposal undertaking (NDU) on other securities held by a promoter, and a guarantee by a promoter limited to the value of shares pledged and under NDU. The asset cover as on December 31, 2021, is more than 1.71 times the principal amount of the said Secured Non-Convertible Debentures.