BEW Engineering Limited Secures Loan Agreement with SIDBI
BEW Engineering Limited announced on April 2, 2026, that it has entered into a Loan Agreement dated April 1, 2026, with the Small Industries Development Bank of India (SIDBI). The agreement secures a Term Loan facility of Rs. 307.65 Lakh for acquiring plant and machinery at FE-10, M.I.D.C. Industrial Area, Phase II, Manpada Road, Dombivli East, Dist. Thane, Maharashtra, 421204; and Plot No. TS-9A, MIDC Phase II, Manpada Road, Dombivli East, Thane, Maharashtra, 421204.According to the agreement, SIDBI is entitled to appoint and withdraw Directors on the Board of Directors of BEW Engineering Limited.
The loan agreement includes the provision for assets hypothecation as security. Assets subject to hypothecation include movable property, plant, machinery, and related equipment located at the specified addresses.
| Particulars | Details |
|---|---|
| Name of parties | Small Industries Development Bank of India (SIDBI) |
| Purpose of agreement | Acquiring plant and machinery |
| Loan amount | Rs. 307.65 Lakh |
| Shareholding | No |
| Significant terms | SIDBI is entitled to appoint Directors on the Board |
| Related party transaction | No |
| Loan details | Lender: Small Industries Development Bank of India; Borrower: BEW Engineering Limited; Nature of Loan: Term Loan; Total amount of Loan: Rs. 307.65 Lakh; Total amount outstanding: Nil |
| Security provided | Assets hypothecated by way of first charge |
A list of assets held as security is as follows:
| Sr. No. | Description of the assets | Other details/marks/ numbers |
|---|---|---|
| Vertical Turning Lathe & Rolling Machine | Qty-1 | |
| EOT Cranes (25 MT, 25MT, 15MT, 25 MT) | Qty-4 | |
| 10 Ton Capacity JIB crane | Qty-1 |
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