Deccan Gold Mines secures Rs 2 Crore loan from Modali Consultants LLP for project development
Deccan Gold Mines Limited has completed the documentation process for availing a loan of Rs 2 Crores from Modali Consultants LLP. The financing deal is intended to support the company's Development of Companies project.The agreement between Deccan Gold Mines Limited (the Borrower) and Modali Consultants LLP (the Lender) outlines specific terms regarding the debt funding. Key conditions of the arrangement include a tenure of 12 months and an annual interest rate set at 12%. The transaction is noted as not involving any relationship with the promoter or promoter group, nor is it categorized as a related party transaction.
The loan facility details are summarized below:
| Particular | Details |
|---|---|
| Lender | Modali Consultants LLP |
| Borrower | Deccan Gold Mines Limited |
| Purpose of Loan | Development of Companies project |
| Total Loan Amount | Rs 2 Crore |
| Nature of Loan | Debt Funding |
In relation to the loan, Deccan Gold Mines limited has provided security. The facility is secured by a pledge of 12,500 equity shares held by the company in Geomysore Services (India) Private Limited.
The agreement terms further specified that the parties are not related in any manner, and the transaction does not constitute a related party transaction.
DECNGOLD Stock Price Movement
Deccan Gold Mines Limited shares shed value today, settling at ₹158.56 after declining by 5.55%. The stock saw a total trade volume of 2.59 million shares during the session.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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