Bhagiradha Chemicals extends ₹215 crore corporate guarantee for subsidiary
Bhagiradha Chemicals and Industries Limited has extended a corporate guarantee totaling ₹215 crore on behalf of its wholly-owned subsidiary, Bheema Fine Chemicals Private Limited. This guarantee secures credit limits from Axis Bank Limited, ICICI Bank Limited, and RBL Bank Limited.
The guarantees include ₹30 crore for a Working Capital Loan and ₹75 crore for a Rupee Term Loan from Axis Bank Limited. ICICI Bank Limited received guarantees of ₹10 crore for a Working Capital Loan and ₹30 crore for a Rupee Term Loan. RBL Bank Limited was guaranteed ₹45 crore for a Working Capital Loan and ₹25 crore for a Rupee Term Loan.
The company stated that this transaction is at "arm's length," with no interest from the promoter or promoter group. The extended corporate guarantee will be recorded as a contingent liability in Bhagiradha Chemicals' books, with no other impact on the company as of the announcement date.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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