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, along with its material subsidiary Antony Lara Enviro Solutions Private Limited, has issued a corporate guarantee of ₹123 crore in favour of HDFC Bank Limited. This guarantee was given on behalf of Antony Lara Renewable Energy Private Limited, a subsidiary of the company. The guarantee facilitates the takeover of existing credit facilities from Power Finance Corporation Limited (PFC) by HDFC Bank Limited. The company has clarified that this is essentially a rollover of an existing guarantee originally extended to PFC. The transaction is conducted at arm's length with no promoter or group company interest.
This creates a contingent liability of ₹123 crore for the company. While there is no immediate financial impact, the company could face liability if the subsidiary fails to meet its repayment obligations to HDFC Bank. Shareholders should note this as an off-balance sheet exposure.