Antony Waste Handling Cell Extends Corporate Guarantee for Subsidiary's Credit Facility
Antony Waste Handling Cell Ltd has extended a corporate guarantee in favor of Kotak Mahindra Bank Limited on behalf of its subsidiary, Mumbai Eco Solutions Private Limited. The guarantee pertains to credit facilities availed by the subsidiary company, with the principal sum provided being ₹20,00,00,000 (Rupees Twenty Crore only).The guarantee issued by Antony Waste Handling Cell Ltd covers the credit needs of Mumbai Eco Solutions Private Limited. According to details released regarding the transaction, the corporate guarantee is in favor of Kotak Mahindra Bank Limited.
In terms of commercial interest, the promoter and the promoter group have no vested interest in this transaction. The Corporate Guarantee has been issued at arm's length. While the company does not have an immediate impact from the guarantee, it represents a contingent liability for Antony Waste Handling Cell Ltd to the extent of the guaranteed amount should Mumbai Eco Solutions Private Limited fail to meet its repayment obligations to the lender.
The key details of this corporate guarantee are summarized below:
| Particulars | Description |
|---|---|
| Name of party for which guarantee was given | Mumbai Eco Solutions Private Limited |
| Guarantee Amount | ₹ 20,00,00,000 (Rupees Twenty Crore only) |
| Lender | Kotak Mahindra Bank Limited |
| Promoter Interest | The promoter and the promoter group are not interested in this transaction. |
AWHCL Stock Price Movement
As of 1:42 PM, shares of Antony Waste Handling Cell Limited are shedding value in live trading, slipping by 0.43% to currently trade at ₹469.95. The equity traded within a noticeable intraday band, bouncing from a low of ₹468.1 and peaking earlier at ₹476.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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