Pranik Logistics Limited Revises Performance Bank Guarantee with Qwik Supply Chain Private Limited
Pranik Logistics Limited announced a revision to the validity and claim period of a performance bank guarantee issued to Qwik Supply Chain Private Limited. The change, effective April 3, 2026, aligns the timelines with updated contractual requirements.The performance bank guarantee, initially disclosed on November 11, 2025, was issued by Kotak Mahindra Bank Limited. The total guarantee amount remains unchanged at Rs. 1,00,00,000. The revised expiry date is March 31, 2028, with a claim date of March 31, 2029.
According to the company, no promoters, promoter group entities, or group companies have an interest in this transaction, and the arrangement is considered to be in the ordinary course of business and at arm's length.
The revision does not have a material adverse impact on Pranik Logistics Limited's financial position, as the bank guarantees are supported by existing banking limits.
Below is a summary of the key details:
| Particulars | Details |
|---|---|
| Party | Qwik Supply Chain Private Limited |
| Interest of Promoters | No interest |
| Nature | Performance Bank Guarantee |
| Amount | Rs. 1,00,00,000 |
| Bank | Kotak Mahindra Bank Limited |
| Revised Expiry Date | March 31, 2028 |
| Revised Claim Date | March 31, 2029 |
| Impact on Company | No material adverse impact |
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