We wish to inform you that the Company has provided Corporate Guarantee in favour of Square Port Shipyard Private Limited (Wholly Owned Subsidiary Company)
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Hazoor Multi Projects Limited's board, on 25th March 2026, approved issuing a Corporate Guarantee in favour of its wholly owned subsidiary, Square Port Shipyard Private Limited (SPSPL). The guarantee is for credit facilities from Bank of Baroda, comprising a term loan of Rs. 45 crore and a cash credit facility of Rs. 5 crore, totalling Rs. 50 crore. The company states there is no promoter or group company interest in this transaction, other than SPSPL itself, and that the guarantee is on an arm's length basis. The guarantee creates a contingent liability for the parent company but, as per the filing, has no current financial impact.
Shareholders should note this is a contingent liability of up to Rs. 50 crore for the parent company. If the subsidiary defaults, Hazoor Multi Projects would be on the hook. However, since the guarantee is to a wholly owned subsidiary, the risk is internal, and the move likely supports the subsidiary's growth or working capital needs.