Aprameya Engineering Limited Provides Corporate Guarantee to Subsidiary
Aprameya Engineering Limited announced that it has provided a corporate guarantee of 4.00 Crores Indian Rupees in favor of Aprameya Medtech Private Limited, a subsidiary in which the company holds 70% of the paid-up share capital, for credit facilities availed from Punjab National Bank.The guarantee secures credit facilities for Aprameya Medtech Private Limited. The transaction qualifies as a related party transaction and will be conducted at arm’s length. Security provided includes a mortgage of property located in Sanand GIDC, Ahmedabad.
Transaction Details
A summary of the transaction details is provided below:| Particulars | Details |
|---|---|
| Parties Involved | Aprameya Engineering Limited & Punjab National Bank |
| Purpose | Corporate Guarantee for Credit Facilities |
| Agreement Size | 4.00 Crores Indian Rupees |
| Shareholding | Nil |
| Related Party | Yes, Aprameya Medtech Private Limited is a subsidiary |
| Security Provided | Mortgage of Property in Sanand GIDC, Ahmedabad |
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