Sr

Bank condition
1 Cash collateral : 30% of
facility : Rs 30lacs

HDFC Letter ref point

Under head : A Credit facility

Unfettered right to
Securitize/transfer/assign
etc WEBCON facility
Routing all collections thru
HDFC Bank
Change in WEBCON
promoter shareholding
require HDFCs written
permission

Under head : A Credit

facility,
Sub para : 1
Under : General Covenants,
subpara : 1
Under : General Covenants,
subpara : 3

Quarterly snapshot of
WEBCONs financial health

Under : General Covenants,

subpara : 9

WEBCON to require prior

PERMISSION from HDFC for
effecting any change in
WEBCONs shareholding
pattern
Submission of Debtor
statementMonthly Book
debt statement

Under : General Covenants,

subpara : 11 (1)

Processing fee: Charged at

Rs 50000 (approx: 1.68%)

Under : Other terms &

conditions, subpara : 7

Interest rate calculation

Rate of interest NOT
specifiedkeeping this
front open in UNHEALTHY

Under : Annexure 1, subpara

: 11

3
4

Under : Other terms &

conditions, subpara : 4

WEBCON Observation
Cash collateral : 10% of facility :
Max : Rs 5Lin form of FD (HDFC
will mark lien on the same)
The same may be allowed under
WRITTEN INTIMATION to
WEBCON
Accepted.
General condition.
However, promoters being
Government entities, WEBCON
will intimate HDFC towards any
change in shareholding pattern, in
lieu of prior permission in
effecting changes in share holding
pattern.
General statutory condition
acceptable.
In what form the financial data
need to be submitted.
As stated under 4 above, change
in shareholding pattern may be
effected under written intimation
to HDFC.
These debt statements are across
branchhence proper DATA
culling across branch network will
be requiredfor debts upto 90
days mainly.
Too steep charge.
We agree to pay : 0.25% of facility
: Rs 7500which is a standard
practice across market for
Govt/Semi Govt entitities.
Interest rate charged : HDFC Bank
Base Rate + 0.25% (max 0.5%).
Being a Cash Credit: Interest rate
will be floating + Semi Govt/Govt
entities in state of WB bargain for
Base rate interest we need to
negotiate hard with the rate.