Centrum Capital Limited has informed the Exchange about Giving guarantees/indemnity/ becoming a surety for third party
CENTRUM · price
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Centrum Capital Limited has issued a corporate guarantee of Rs. 50 Crores in favor of Canara Bank to support a term loan (60-month tenure) being availed by its subsidiary, Centrum Housing Finance Limited. The transaction is between the company and its subsidiary, with no promoter group interest involved. Centrum Capital has disclosed this as a contingent liability, stating there is no present financial impact on the company. The disclosure was made under SEBI Listing Regulations to inform the exchanges.
This is a contingent liability of Rs. 50 Crores — if the subsidiary defaults, Centrum Capital would be liable to pay. For now, the company says there is no impact, but shareholders should monitor the housing finance subsidiary's performance as a guarantor obligation adds risk.