Corporate Guarantee of Rs 40 Crore for Gayatri Infrastructure with Bank of India

Maitri Enterprises has issued a corporate guarantee of up to Rs 40 Crore in favor of Bank of India for credit facilities extended to Gayatri Infrastructure Limited (GIL). Maitri holds 15.98 percent in GIL, and its promoters and directors collectively hold 26.77 percent. The facility funds construction of the Maitri Elevate Scheme at Motera, Ahmedabad. The guarantee is a contingent liability with no immediate cash outflow as long as GIL services its debt. Transaction is at arm's length.