Mukka Proteins Limited has informed the Exchange about execution of loan agreement.
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Mukka Proteins Limited has entered into a loan agreement with its 68% owned subsidiary, United Gulf Fishery Products LLC. The company will provide an unsecured inter-corporate loan of up to Rs. 5 crore (Rs. 5,00,00,000) to meet the subsidiary's urgent business commitments. The loan carries an interest rate of 8% per annum and has a tenure of 5 years from the date of disbursal. As of the disclosure date, no amount is outstanding under this facility. The transaction qualifies as a related party transaction and has been executed on an arm's length basis, as required under SEBI regulations.
The loan agreement represents an intra-group liquidity support and is a routine related party transaction. No immediate impact on the stock is expected, but investors should monitor whether the subsidiary's repayment obligations are met on schedule.