Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015
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Rithwik Facility Management Services Ltd has issued a corporate guarantee of Rs. 1 Crore in favour of Canara Bank on behalf of its wholly owned subsidiary, Rithwik Indus Power Private Limited. The guarantee will help the subsidiary secure working capital facilities up to Rs. 1 Crore. The company stated that none of the promoters, promoter group, or directors have any interest in this transaction. The guarantee will be reflected as a contingent liability in the financial statements.
Minor contingent liability of Rs. 1 Crore for the parent company, supporting its subsidiary's working capital needs. Limited direct impact on shareholders, but signals ongoing support to the subsidiary's operations.