Antony Waste Handling Cell Limited has informed the Exchange about Issuance of Corporate Guarantee on behalf of Subsidiary Company
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Antony Waste Handling Cell Limited has issued a Corporate Guarantee of ₹9.17 crore in favour of ICICI Bank Limited for its subsidiary, Mumbai Eco Solutions Private Limited. The guarantee covers various credit facilities being availed by the subsidiary company. The transaction is at arm's length with no promoter or group company interest. The guarantee represents a contingent liability for the parent company if the subsidiary fails to meet its repayment obligations to ICICI Bank.
This increases the parent company's contingent liabilities by ₹9.17 crore. If Mumbai Eco defaults on its credit facilities, Antony Waste would be obligated to honour the guarantee, which could pressure the company's financials. However, the immediate impact is limited to the guarantee amount.