Banka BioLoo Limited has informed the Exchange about Giving guarantees/indemnity/ becoming a surety for third party
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Banka BioLoo Limited will provide a corporate guarantee of up to Rs. 4.35 Crores to Maanaveeya Development & Finance Private Limited on behalf of its subsidiary, Megaliter Varunaa Private Limited, which is raising a credit facility in one or more tranches. The subsidiary is majority-owned and promoter-controlled by Banka BioLoo, with Managing Director Namita Sanjay Banka and CEO Vishal Murarka also serving as directors of the subsidiary. The guarantee is unconditional and irrevocable until full repayment of the loan. The transaction is confirmed to be at arm's length and compliant with the Companies Act and SEBI listing rules.
This creates a contingent liability of up to Rs. 4.35 Crores for Banka BioLoo on a standalone basis, but on a consolidated basis there is no impact since the subsidiary's accounts are already merged. Shareholders should note the modest related-party exposure, though the small size of the guarantee limits material risk to the listed entity.