Antony Waste Extends ₹9.88 Cr Corporate Guarantee for Subsidiary Mumbai Eco
Antony Waste Handling Cell Limited has provided a Corporate Guarantee of ₹9.88 Crore for its subsidiary, Mumbai Eco Solutions Private Limited. The guarantee is for credit facilities from Bajaj Finance Limited. The transaction is at arm's length and constitutes a contingent liability.
The guarantee amount of ₹9.88 Crore is significant relative to the company's operations. Although it's a contingent liability, it could have a material impact if the subsidiary defaults.
The company is providing a corporate guarantee for its subsidiary, which is a standard financial arrangement. While it represents a contingent liability, there is no immediate positive or negative impact indicated.
Antony Waste Handling Cell Limited has issued a Corporate Guarantee in favor of Bajaj Finance Limited on behalf of its subsidiary, Mumbai Eco Solutions Private Limited. The guarantee is for various credit facilities availed by Mumbai Eco, up to a principal sum of ₹9,88,20,000 (Rupees Nine Crore Eighty-Eight Lakh and Twenty Thousand only).
The promoter, promoter group, and group companies are not interested in this transaction, and the corporate guarantee has been issued at arm's length. The issuance of this guarantee constitutes a contingent liability for Antony Waste Handling Cell Limited, with no immediate impact expected unless Mumbai Eco is unable to meet its repayment obligations to Bajaj Finance Limited.
This disclosure is made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant SEBI Master Circulars.
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Antony Waste Handling Cell Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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