Popular Vehicles extends corporate guarantees to subsidiaries

Popular Vehicles and Services (BSE:PVSL) announced the continuation of corporate guarantees for its wholly-owned subsidiaries, Popular Mega Motors (India) Private Limited and Popular Autoworks Private Limited. These guarantees, issued in favor of The South Indian Bank Limited, support the renewal of Dealer Finance Facilities. Specifically, a guarantee of up to Rs. 100 million (Rs.10,00,00,000) has been extended to Popular Mega Motors, and a similar amount guaranteed to Popular Autoworks. The company affirms that this transaction is conducted at arm's length, and while these guarantees are part of the consolidated group's operations, their impact on the listed entity is limited to disclosure in the financial statements. The announcement complies with Regulation 30 of the SEBI Listing Regulations.