The Company will be executing a Deed of Guarantee(s) & Undertaking in favour of Citibank N.A. India ("Lender") (or the Security Trustee acting on behalf of Lenders) in relation to the loan ....
SAMHI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Samhi Hotels Ltd will execute a Deed of Guarantee and Undertaking in favour of Citibank N.A., India (or its Security Trustee) to secure a rupee loan facility of up to INR 453.10 crore (approximately ₹453.1 crore) for its wholly-owned subsidiary, SAMHI Hotels (Ahmedabad) Private Limited. As guarantor, the parent company will provide certain undertakings regarding the Borrower's obligations and guarantee repayment of all amounts due under the Facilities. Vistra ITCL (India) Limited is acting as the Security Trustee. The transaction is stated to be on an arm's length basis and compliant with applicable provisions of the Companies Act, 2013 and SEBI LODR Regulations. The Company claims there is no impact on the listed entity from this guarantee.
While the company claims no impact, the guarantee of a ₹453 crore loan for its subsidiary increases Samhi Hotels' contingent liability exposure. Investors should monitor whether any credit impairment at the subsidiary could flow back to the parent.