Disclosure under regulation 30 of the SEBI (LODR) Regulations, 2015 regarding intimation of loan agreement.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bhatia Communications & Retail (India) Ltd has entered into an Inter Corporate Loan agreement with Skytower Enterprises LLP for Rs. 6 Crores. The loan carries an interest rate of 9% per annum and has a maximum tenure of 4 years from the first disbursement. The company is the lender in this transaction, and the loan is unsecured with no amount outstanding as on the date of disclosure. The transaction is not a related party transaction and the parties are not related to the promoter or promoter group. This appears to be Bhatia deploying its surplus cash to earn interest income.
This loan agreement represents a new credit facility being extended by Bhatia to another entity. The 9% interest rate on Rs. 6 Crores could contribute to interest income. The transaction is arms-length and not related party, so no immediate concerns for minority shareholders.