Pursuant to regulation 30 read with clause 11 of Para B of Part A of Schedule III of the Securities and Exchange Board of India( LODR) Regulations, 2015, we enclose herewith the requisite ....
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Hazoor Multi Projects Ltd has provided a corporate guarantee along with property security to Kotak Bank Limited for a term loan facility of up to ₹75 Crores availed by its associate company, Rappture Projects Private Limited. The company confirmed that promoters and group companies have no interest in the transaction and that it was done at arm's length. The management stated there is currently no impact on the listed entity from this guarantee. The disclosure was made under SEBI LODR Regulation 30, which requires listed companies to intimate material guarantees given on behalf of associates.
While the company claims no immediate impact, shareholders should note this ₹75 Crore guarantee represents a contingent liability. Any default by the associate company could expose Hazoor Multi Projects to financial risk, and the pledged property security adds further potential downside.