Anupam Rasayan India Limited has informed the Exchange about Giving Corporate Guarantee in favour of Export-Import Bank of India for securing the credit facility amounting to USD 17 Million being availed by Anupam General Trading FZE, a wholly-owned subsidiary of the Company.
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Anupam Rasayan India Limited's Board has approved giving a corporate guarantee to Export-Import Bank of India for a USD 17 Million Buyer's Credit facility being availed by its wholly-owned subsidiary Anupam General Trading FZE (AGTF), based in Jebel Ali Free Zone, Dubai. The guarantee is unconditional, irrevocable, and covers up to 110% of the facility amount plus interest. The facility is revolving with a 1-year tenor, renewable annually, and will be used to part-finance the import of chemicals and related products from India. The transaction is at arm's length and involves no promoter or group company interest.
This creates a contingent liability for Anupam Rasayan India to the extent of the guaranteed amount (USD 17 Million plus interest) if the subsidiary fails to repay. While there is no immediate cash impact, it signals continued funding support for the UAE subsidiary's trading operations, which could be positive for business expansion but adds off-balance-sheet exposure for shareholders.