Popular Vehicles & Services Extends Corporate Guarantees
Popular Vehicles and Services Limited announced on March 25, 2026, that it has extended corporate guarantees to support its subsidiaries and affiliated companies.The company continued to provide a corporate guarantee of Rs. 2,00,00,000 to Sundaram Finance Limited related to a trade advance facility and another guarantee of Rs. 22,50,00,000 to IndusInd Bank Limited regarding credit facilities granted to Prabal Motors Private Limited, a subsidiary. Additionally, Popular Vehicles & Services continued a corporate guarantee of Rs. 5,00,00,000 to Sundaram Finance Limited for a trade advance facility to Popular Mega Motors (India) Private Limited, a wholly-owned subsidiary.
According to information released, the transactions were conducted at arm’s length and none of the promoters or directors of the company have an interest in them. The company noted that the guarantees have no impact on the listed entity other than disclosure in the financial statements.
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