OCL Iron and Steel : CIRP - others

LIST OF CREDITORS

OF

OCL IRON AND STEEL LIMITED

(as on 25th MARCH 2022)

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

1. General notes applicable to the overall claims verification process:

• 1.1. 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.

• 1.2. 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 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.

• 1.3. The claim on account of invoices with billing period beyond ICD has not been admitted in accordance with the provisions of the Code.

• 1.4. There are 2 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 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.

• 1.5. As part of the verification of the claims, there are following categories of "verification" to take note of, as laid out below-

  • a) Amount Admitted - refers to the amount that has been verified from the documents submitted by the claimant and reconciled from the records of the Corporate Debtor.

  • b) Amount under verification - refers to the claims that are currently under review; the status of the same shall be updated post verification.

• 1.6. 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 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

Sr. No.	Category of creditor	Summary of claims received	Summary of claims admitted	Amount of contingent claims	Amount of claims not admitted	Amount of claims under verification	Details in Annexure	Remarks, if any
No. of claims	Amount	No. of claims	Amount of claims admitted
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 creditors belonging to any class of creditors)	8	22,407,166,083	8	21,386,119,187	-	1,020,229,722	817,174	3	-
4	Unsecured financial creditors (other than financial creditors belonging to any class of creditors)	2	2,342,532,966	1	1,121,477,927	-	1,221,055,039	-	4	-
5	Operational creditors (Workmen)	196	127,328,901	196	70,798,972	-	-	56,529,929	5	-
6	Operational creditors (Employees)	184	100,218,983	182	77,849,555	-	20,614,118	1,755,310	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 Employees and Government Dues)	153	8,905,860,166	142	7,563,931,506	-	759,131,580	582,797,079	8	-
9	Other creditors, if any, (other than financial creditors and operational creditors)	1	5,819,098	1	3,191,831	-	397,267	2,230,000	9	-
Total	551	35,591,857,774	537	31,923,392,637	-	3,024,335,646	644,129,492

Remarks,

Annexure - 3

Name of the corporate debtor: OCL Iron & Steel Limited; Date of commencement of CIRP: September 20, 2021; List of creditors as on: March 25, 2022

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

Sl. No.	Name of Creditor	Details of claim received	Details of claim admitted	Amount of contingent claim	Amount of any Mutual dues, that may be set-off	Amount of claims not admitted	Amount of claims under verification	Remarks, if any
Date of receipt	Amount claimed	Amount of claim admitted	Nature of claim	Amount covered by security interest	Amount covered by guarantee	Whether related party?	% of voting share in CoC
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%	-	-	25,754,665	-	-
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%	-	-	922,500,000	-	-
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%	-	-	-	817,174	-
8	Asian Opportunities III (Mauritius Limited)	6-Oct-21	8,223,540,217	8,151,565,160	Loan	8,151,565,160	8,151,565,160	No	36.22%	-	-	71,975,057	-	-
TOTAL	22,407,166,083	21,386,119,187	21,386,119,187	21,386,119,187	95.02%	-	-	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: March 25, 2022

Unsecured financial creditors (other than financial creditors belonging to any class of creditors)

Sl. No.	Name of Creditor	Details of claim received	Details of claim admitted	Amount of contingent claim	Amount of any Mutual dues, that may	Amount of claims not admitted	Amount of claims under verification	Remarks, if any
Date of receipt	Amount claimed	Amount of claim admitted	Nature of claim	Amount covered by guarantee	Whether related party?	% of voting share in CoC
1	Ganesh Ores Private Limited	4-Oct-21	1,420,012,966	1,121,477,927	Loan	-	No	4.98%	-	-	298,535,039	-
2	Ministry of Coal	5-Oct-21	922,520,000	-	Bank Guarantee	-	No	-	-	-	922,520,000	-
TOTAL	2,342,532,966	1,121,477,927	-	4.98%	-	-	1,221,055,039	-