Antony Waste issues 20 Crore corporate guarantee for subsidiary Mumbai Eco

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₹470.35

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AI summary

Antony Waste Handling Cell has given a corporate guarantee of Rs 20 Crore to Kotak Mahindra Bank on behalf of its subsidiary Mumbai Eco Solutions. The guarantee covers credit facilities being availed by the subsidiary. Promoters have no interest in the deal and terms are at arm's length. This creates a contingent liability for the parent company if Mumbai Eco fails to repay the bank loan.

Likely market impact

Contingent liability of Rs 20 Crore for parent if subsidiary defaults on the bank loan. Modest risk for shareholders.