Vels Film International Limited Approves Corporate Guarantee for Subsidiary
Vels Film International Limited announced that its Board of Directors approved a corporate guarantee for M/s. Vels D Studio LLP during a meeting held on March 26, 2026. The guarantee is in favor of Bank of Baroda, R.K. Nagar Branch, Chennai, to secure credit facilities amounting to Rs. 3,44,85,000.The credit facilities consist of a Cash Credit Facility of Rs. 2,00,00,000 and a Term Loan Facility of Rs. 1,44,85,000. M/s. Vels DStudio LLP is a group entity of Vels Film International Limited, and the transaction was undertaken on an arm's length basis. The guarantee covers all amounts due and payable by the borrower under the sanction terms and loan documents, including interest, costs, charges, and expenses. The Board Meeting commenced at 6:00 PM and concluded at 6:30 PM.
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