Issuance of Corporate Guarantee to Siddhivinayak Developers Kurar, Step-Down Subsidiary.
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B-Right Realestate Ltd is issuing a corporate guarantee of Rs 45 crore to Capri Global Capital Limited to secure a construction finance loan being availed by Siddhivinayak Developers Kurar, its step-down subsidiary. The guarantee covers the full loan amount of Rs 45,00,00,000 (Rupees Forty-Five Crores). The promoter group and group companies have no interest in this transaction, and the company confirms it is being done on an arm's length basis. The filing states there is no material impact on B-Right Realestate other than the disclosure requirement in its financial statements. This is a routine intra-group guarantee to support financing for a subsidiary's construction project.
Shareholders should note that B-Right Realestate now carries a contingent liability of Rs 45 crore on behalf of its step-down subsidiary. While the company says there is no immediate financial impact, any default by Siddhivinayak Developers on this loan could expose B-Right to the full guarantee amount.