Disclosure under regulation 30 Sanction of Cash Credit Limit and Bank Guarantee Facility on March 30, 2026 and closing of existing loan facility.
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Ecoboard Industries Ltd has entered into a loan agreement with Indian Overseas Bank on March 30, 2026, to avail a Cash Credit facility of ₹10 crore and a Bank Guarantee facility of ₹5 crore, for working capital and business operational funding. The facility is secured by registered mortgage of company land at Village Velapur, Taluka Malshiras (Solapur), along with hypothecation of stock, book debts, and a first charge on current assets. Separately, the company has fully repaid and closed its existing banking facilities with Union Bank of India — a Bank Guarantee of ₹1.98 crore and Cash Credit of ₹2 crore — with no outstanding dues as of March 27, 2026. This represents a net increase in working capital limits, with the new lender (IOB) replacing Union Bank of India.
Shareholders should view this as a routine lender switch with an overall increase in sanctioned working capital limits (CC up by ~₹8 crore and BG up by ~₹3 crore). The clean closure of old facilities with no outstanding dues is a positive sign, and the new facility is backed by tangible collateral, suggesting adequate security for lenders.