ICDS Limited has informed the Exchange regarding 'Approval of inter-corporate Loan'.
ICDSLTD · price
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The Board of Directors of ICDS Limited has approved an inter-corporate loan of up to Rs. 5 crore to Manipal Energy and Infratech Limited. The loan carries an interest rate of 12% per annum and is repayable within 12 months from the date of disbursement. It is an unsecured loan with no security provided by the borrower. The company has confirmed that this is not a related party transaction and that there is no existing shareholding relationship with the borrower entity. As of the date of disclosure, no amount is outstanding as the loan has not yet been disbursed.
This is a relatively small loan facility that generates interest income for ICDS Limited. The transaction is straightforward, at arm's length, and not a related party deal, so it is unlikely to have any significant impact on the company's stock price.