Mukka Proteins Limited has informed the Exchange about cancellation of Corporate Guarantee issued previously.
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Awaiting price reaction for this filing.
Mukka Proteins has informed exchanges that HDFC Bank has cancelled the enhancement of a credit facility of Rs. 6.03 crore that was sanctioned to its Oman-based subsidiary, Ocean Aquatic Proteins LLC. The cancellation was due to non-availability of required collateral. As a result, the corporate guarantee that Mukka Proteins had issued to back this facility also stands cancelled. The facility was originally disclosed in a letter dated 15th May 2025. There is no indication of any actual disbursement or default involved.
Marginally negative for the subsidiary's funding plans as it lost access to additional credit of Rs. 6.03 crore due to collateral issues. However, the cancellation of the guarantee also removes a contingent liability from Mukka Proteins' books, which is a slight positive for the parent company's balance sheet.