Deccan Gold Mines Secures Rs 3 Crore Debt Funding from Modali Consultants LLP
Deccan Gold Mines Limited has finalized documentation regarding a loan facility of Rs 3 Crores, sourced from Modali Consultants LLP. The funding is intended for the development of a company project.The transaction details confirm that Deccan Gold Mines Limited serves as the borrower, with Modali Consultants LLP acting as the lender. This debt funding amounts to Rs 3 crores.
Key terms and conditions associated with the loan agreement include:
- Tenure: 12 months
- Interest Rate: 12% per annum, which is compounded quarterly
- Repayment: The entire amount is payable at the end of the tenure.
The loan security provided for this financing involves a pledge of 18,750 equity shares held by Deccan Gold Mines Limited in Geomysore Services (India) Private Limited.
The transaction details highlight that neither party involved in the agreement has any relationship with the promoter or promoter group companies. Furthermore, the lending arrangement is not classified as a related party transaction.
A summary of the key parties and parameters for this financial arrangement is provided below:
| Parameter | Detail |
|---|---|
| Lender | Modali Consultants LLP |
| Borrower | Deccan Gold Mines Limited |
| Nature of Loan | Debt Funding |
| Total Amount | Rs. 3 crore |
| Security Provided | Pledge of 18,750 equity shares in Geomysore Services (India) Private Limited |
DECNGOLD Stock Price Movement
Deccan Gold Mines Limited saw its equity tumble, settling at ₹217.86 after shedding ₹9.01 or 3.96% in post-market trading today. The stock traded on a volume exceeding 4.3 million shares as the company navigated volatile conditions throughout 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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