SBI SARFAESI Notice to Kranti Industries Over Associate's Loan Default

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Price reactionminutes from the announcement price · days from the prior close

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₹49.50

prior close

₹54.50

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%+0.6% vs market

Auto Components & Equipments peers, median of 123sector-0.4%+1.3% vs sector

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Minutes after the announcementfrom the announcement price · no benchmark

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AI summary

Kranti Industries received a SARFAESI Section 13(2) notice from State Bank of India regarding a corporate guarantee it gave for associate company Preciso Metall Private Limited. The notice demands about Rs 2.27 crore within 60 days after Preciso defaulted on loan repayments and the loan was classified as a non-performing asset. Kranti says it is reviewing the legal validity of the notice and exploring remedies, and claims no immediate material financial impact on its operations.

Likely market impact

Contingent liability of about Rs 2.27 crore linked to an associate's default. If legal remedies fail, this could pressure earnings and cash flow.