Maitri Enterprises guarantees Rs 40 Cr loan for group firm GIL

Maitri Enterprises Limited has issued a corporate guarantee of up to Rs 40 Crores 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 hold another 26.77 percent. The facility will fund construction of the Maitri Elevate Scheme at Motera, Ahmedabad. The guarantee is a contingent liability with no immediate cash outflow, provided GIL services its obligations.