Ajmera Realty & Infra India Limited has informed the Exchange regarding announcements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015
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Ajmera Realty & Infra India Limited has approved extending a corporate guarantee of Rs. 40 crores in favor of RBL Bank Limited for a credit facility availed by Ajmera Housing Corporation Bangalore (AHCB). AHCB is a related party, in which ARIIL's wholly owned subsidiary Ajmera Estates (Karnataka) Private Limited holds a 70% stake. The guarantee is stated to be at arm's length, and the formal agreement is yet to be executed. The company says there is no material impact on ARIIL beyond standard disclosure in financial statements.
This is a contingent liability for ARIIL — if AHCB defaults, the parent may have to honor the Rs. 40 crore guarantee. For now, the financial impact is described as minimal, but shareholders should note the increased exposure to the subsidiary's debt.