AWHCL: 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 (AWHCL) has issued a corporate guarantee of ₹9.88 crore (₹9,88,20,000) in favour of Bajaj Finance Limited on behalf of its subsidiary, Mumbai Eco Solutions Private Limited. The guarantee supports various credit facilities being availed by the subsidiary company. The company states the transaction is at arm's length and that promoter/promoter group has no interest in it. The guarantee constitutes a contingent liability for AWHCL, meaning the parent company could be called upon to pay if the subsidiary defaults on its repayment obligations to Bajaj Finance.
While the company says there is no immediate impact, the corporate guarantee creates a contingent liability of ₹9.88 crore on AWHCL's books. If Mumbai Eco faces repayment difficulties, AWHCL shareholders could be exposed to unexpected financial obligations.