Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sayaji Hotels (Pune) Ltd has informed BSE that a corporate guarantee of ₹75 crores, earlier given in favour of Axis Bank Limited for a loan taken by related party Sayaji Hotels Limited (which shares common promoters), has been released by mutual agreement between the bank and the company. The guarantee was originally issued to secure a business loan taken by Sayaji Hotels Limited. The company has stated the impact on the listed entity is 'None', as the transaction was conducted on an arm's length basis. The guarantee release means Sayaji Hotels (Pune) no longer carries this contingent liability on its books.
This is a mildly positive development for shareholders as it removes a ₹75 crore contingent liability from the company's books. However, since the company itself has declared the impact as 'None', it is unlikely to cause any material movement in the stock price.