Orchid Pharma Limited has informed the Exchange about Giving Corporate guarantee on behalf of Orchid Bio-Pharma Limited (Wholly Owned Subsidiary)
ORCHPHARMA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Orchid Pharma Limited has issued a continuing corporate guarantee of up to Rs. 9.44 Crore in favor of the President of India (through the Commissioner of Customs, Jawahar Custom House) on behalf of its wholly owned subsidiary, Orchid Bio-Pharma Limited. The guarantee relates to the subsidiary's EPCG (Export Promotion Capital Goods) License obligations under DGFT and Customs regulations. The guarantee remains valid until expressly revoked with the prior consent of the Customs Authority. The transaction has been carried out at arm's length and the promoter/promoter group has no direct interest in it.
The company has stated this guarantee will not have a material effect on Orchid Pharma's financials, but it will be recorded as a contingent liability of Rs. 9.44 Crore. For shareholders, this is a routine disclosure tied to the subsidiary's export-related customs commitments and is unlikely to move the stock, though it represents a potential future obligation if the subsidiary defaults on its EPCG obligations.