Antony Waste Handling Cell Limited has informed the Exchange about Giving guarantees/indemnity/ becoming a surety for third party
AWHCL · price
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Antony Waste Handling Cell Limited has issued a Corporate Guarantee of ₹17 Crore in favour of The Federal Bank Limited on behalf of its material subsidiary, Antony Lara Enviro Solutions Private Limited. The guarantee covers various credit facilities being availed by the subsidiary from the bank. The company has confirmed the transaction is at arm's length and promoters have no interest in it. The guarantee creates a contingent liability for Antony Waste to the extent of ₹17 Crore if the subsidiary fails to repay the lender.
This is a contingent liability of ₹17 Crore for the listed entity. While there is no immediate financial impact, shareholders should note that if the material subsidiary defaults on its loan repayments, Antony Waste would be liable to cover up to ₹17 Crore. This also signals continued capital support being extended to the subsidiary for its growth or operational needs.