Please find intimation w.r.t issuance of Corporate Guarantee on behalf of Subsidiary company
AWHCL · price
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Antony Waste Handling Cell Ltd has issued a corporate guarantee of ₹9.17 crore (₹9,17,00,000) in favour of ICICI Bank Limited on behalf of its subsidiary, Mumbai Eco Solutions Private Limited. The guarantee covers credit facilities being availed by the subsidiary. The company has confirmed that no promoter or group companies have any interest in this transaction and that it was done at arm's length. This guarantee constitutes a contingent liability for the parent company to the extent of the guaranteed amount if Mumbai Eco fails to meet its repayment obligations to ICICI Bank.
This guarantee creates a contingent liability of ₹9.17 crore for Antony Waste. While the company states there is no immediate impact, shareholders should monitor if the subsidiary's financial performance deteriorates, as the parent could be called upon to honour the guarantee.