Samhi Hotels Limited has informed the Exchange about update on extending a corporate guarantee(s)/ creating pledge over securities held by the Company in its various wholly owned subsidiary(ies) in favour of Axis Bank Limited (''Lender/ Bank''), for the credit facility(ies) availed by its wholly owned subsidiary(ies). The relevant details as required under regulation 30 of SEBI LODR Regulations are enclosed in this respect.
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Samhi Hotels Limited has informed the exchange about an update regarding the extension of corporate guarantees and creation of a pledge over securities held by the company in its various wholly owned subsidiaries. These guarantees are being provided in favour of Axis Bank Limited, the lender, for credit facilities availed by these wholly owned subsidiaries. The company has submitted the required details under SEBI LODR Regulation 30. No specific financial figures, loan amounts, or guarantee values have been disclosed in the headline.
This indicates that the parent company is continuing to backstop the debt obligations of its hotel subsidiaries, which could mean higher contingent liabilities on Samhi's books but also signals confidence in supporting subsidiary-level borrowing from Axis Bank.