1. Borrower profile & initial credit bottleneck

  • The company was importing ₹6.00 crore of glass-lined reactors and automation systems from Germany on 180-day usance Letter of Credit (LC) terms, which the lead bank initially refused to carve out as a sub-limit of the term loan.
  • MIDC's Tripartite Agreement and Consent to Establish (MPCB Red Category) had pending condition precedents that delayed mortgage perfection.
  • Using equal monthly EMI during the first 6 months of commercial trial runs depressed Year-2 DSCR to 1.14x.

2. How the file and cash-flow waterfall were structured

  • Prepared a comprehensive DPR and CMA package incorporating a ₹6.00 crore Capex Import LC sub-limit within the ₹24.00 crore Term Loan (converting into term debt on LC maturity after machinery installation).
  • Coordinated the MIDC Regional Officer mortgage permission and Tripartite Agreement alongside MPCB Consent to Establish milestones.
  • Structured stepped quarterly principal instalments after a 12-month moratorium, achieving an average DSCR of 1.64x and minimum DSCR of 1.32x at 9.35% p.a.

3. Before vs. after sanction comparison