OCL Iron and Steel : CIRP - others

LIST OF CREDITORS

OF

OCL IRON AND STEEL LIMITED

(as on 24th MAY 2022)

Notes related to the claims verification process for OCL Iron and Steel Limited

• General notes applicable to the overall claims verification process:

1. Pursuant to an order dated November 25, 2021 ("Order"), the Hon'ble NCLT approved the replacement of Interim Resolution Professional ("IRP") and appointed Mr. Vijaykumar V Iyer as the Resolution Professional ("RP"), a copy of which was made available to the RP on December 07, 2021.
   The below list places reliance on the information received from and verified by the erstwhile IRP team. Primary reliance regarding claim verification has been made on the verification
2. done by the erstwhile IRP and the list of claims provided by him, unless the claim was under verification by the IRP or the RP suo moto or under direction of any relevant person or on account of any facts or law coming to its knowledge has reasons to review any value of the claims which have been verified by the IRP.
3. The claim on account of invoices with billing period beyond ICD has not been admitted in accordance with the provisions of the Code.
   There are 3 cases where claimant has submitted their claim without any claim form - i.e., only submitted supporting documents, affidavit etc. The RP team has reached out to such
4. claimant asking them to submit the appropriate and complete claim form, as per the provisions of the Code, in order for their claim to be considered in the list of creditors of the Corporate Debtor. Such claim has not been considered for verification and has been included in the beginning of the list, wherever applicable.
5. As part of the verification of the claims, there are following categories of "verification" to take note of, as laid out below-
   Amount Admitted - refers to the amount that has been verified from the documents submitted by the claimant and reconciled from the records of

1. the Corporate Debtor.
2. Amount under verification - refers to the claims that are currently under review; the status of the same shall be updated post verification.
   There have been certain challenges with regards to verification of claim details with the records of the Corporate Debtor, including but not limited to - access to the updated books of accounts / relevant records, non-access to documents kept at the plants etc. Given the state of operations of the Corporate Debtor(s) and ensuing circumstances, it has been the

1. continued endeavor of the RP and the RP team to engage with relevant stakeholders in order to verify the claims in an expeditious manner, as practically feasible, by placing reliance on the Corporate Debtor's records and books of accounts, inputs / information from the Corporate Debtor's personnel and the supporting documents submitted by the concerned creditors (including any clarifications, as may have been sought).

OCL IRON & STEEL LIMITED

						Amount of	Amount of	of claims	Details
Sr. No.	Category of creditor	No. of		No. of	Amount of claims	contingent	claims not	in
Amount	under
		claims	claims	admitted	claims	admitted	Annexure
			verification
1	Secured financial creditors belonging to any class	-	-	-	-	-	-	-	-
of creditors
2	Unsecured financial creditors belonging to any	-	-	-	-	-	-	-	-
class of creditors
3	Secured financial creditors (other than financial	8	22,407,166,083	8	21,386,119,187	-	1,020,229,722	817,174	3
creditors belonging to any class of creditors)
	Unsecured financial creditors (other than
4	financial creditors belonging to any class of	2	2,342,532,966	1	1,121,477,927	-	1,221,055,039	-	4
	creditors)
5	Operational creditors (Workmen)	196	127,328,901	196	79,237,966	-	48,090,935	-	5
6	Operational creditors (Employees)	199	108,818,410	197	82,759,914	-	23,300,059	2,758,437	6
7	Operational creditors (Government Dues)	7	1,702,931,578	7	1,700,023,659	-	2,907,919	-	7
8	Operational creditors (other than Workmen and	161	9,170,395,032	150	8,025,593,397	-	1,144,801,635	-	8
Employees and Government Dues)
9	Other creditors, if any, (other than financial	1	5,819,098	1	3,156,431	-	2,662,667	-	9
creditors and operational creditors)
	Total	574	35,864,992,068	560	32,398,368,480	-	3,463,047,977	3,575,611

Remarks,

if any

-

-

-

-

-

-

-

-

-

Annexure - 3

Name of the corporate debtor: OCL Iron & Steel Limited; Date of commencement of CIRP: September 20, 2021; List of creditors as on: May 24, 2022

List of secured financial creditors (other than financial creditors belonging to any class of creditors)

		Details of claim received			Details of claim admitted				Amount
						Amount	Amount		% of	Amount	of any
		Date		Amount		covered	Whether	of	Mutual
Sl. No.	Name of Creditor	Amount	Nature	covered	voting
of	of claim	by	related	contingent	dues,
		claimed	of claim	by	share in
		receipt	admitted	security	party?	claim	that may
				guarantee	CoC
						interest			be set-off
1	UCO Bank	27-Sep-21	2,209,344,213	2,209,344,213	Loan	2,209,344,213	2,209,344,213	No	9.82%	-	-
2	State Bank of India	29-Sep-21	2,338,157,869	2,338,157,869	Loan	2,338,157,869	2,338,157,869	No	10.39%	-	-
3	Indian Bank	4-Oct-21	2,321,717,304	2,321,717,304	Loan	2,321,717,304	2,321,717,304	No	10.32%	-	-
4	ICICI Bank Limited	4-Oct-21	2,879,077,363	2,853,322,698	Loan	2,853,322,698	2,853,322,698	No	12.68%	-	-
5	Union Bank	4-Oct-21	2,522,069,280	1,599,569,280	Loan	1,599,569,280	1,599,569,280	No	7.11%	-	-
6	Bank of Baroda	4-Oct-21	1,770,765,463	1,770,765,463	Loan	1,770,765,463	1,770,765,463	No	7.87%	-	-
7	Punjab National Bank	4-Oct-21	142,494,374	141,677,200	Loan	141,677,200	141,677,200	No	0.63%	-	-
8	Asian Opportunities	6-Oct-21	8,223,540,217	8,151,565,160	Loan	8,151,565,160	8,151,565,160	No	36.22%	-	-
III (Mauritius Limited)
	TOTAL		22,407,166,083	21,386,119,187		21,386,119,187	21,386,119,187		95.02%	-	-

Amount of	Amount
of claims	Remarks,
claims not
under	if any
admitted
verification
		-
-	-
-	-	-
-	-	-
25,754,665	-	-
922,500,000	-	-
-	-	-
-	817,174	-
71,975,057	-	-
1,020,229,722	817,174

Annexure - 4

Name of the corporate debtor: OCL Iron & Steel Limited; Date of commencement of CIRP: September 20, 2021; List of creditors as on: May 24, 2022 Unsecured financial creditors (other than financial creditors belonging to any class of creditors)

Amount

% of

Amount

of any

Amount of

Amount

Date

Amount

Whether

of

of claims

Remarks,

Sl. No.

Name of Creditor

Amount

Nature

covered

voting

Mutual

claims not

of

of claim

related

contingent

under

if any

claimed

of claim

by

share in

dues,

admitted

receipt

admitted

party?

claim

verification

guarantee

CoC

that may

1

Ganesh Ores Private

4-Oct-21

1,420,012,966

1,121,477,927 Loan

-

No

4.98%

-

-

298,535,039

-

Limited

2

Ministry of Coal

5-Oct-21

922,520,000

-

Bank

-

No

-

-

-

922,520,000

-

Guarantee

TOTAL

2,342,532,966

1,121,477,927

-

4.98%

-

-

1,221,055,039

-