SECUREKLOUD TECHNOLOGIES LIMITED has informed the Exchange about Agreements
SECURKLOUD · price
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SecureKloud Technologies has signed an addendum to its existing loan agreement with its Promoter, Chairman and CEO Mr. Suresh Venkatachari, who holds 42.13% stake in the company. The original loan of up to Rs. 5 crore, taken on July 19, 2024 to meet working capital needs, has been revised on two fronts: (1) the loan must now be repaid before July 31, 2026, and (2) the loan will carry no interest from the original date itself. No security has been provided for the loan. The amendment has been disclosed under SEBI's related party transaction norms.
This is a positive development for shareholders — the promoter has waived interest on the entire Rs 5 crore loan, which reduces the company's finance costs and provides interest-free funding support. However, the repayment has been pushed to mid-2026, extending the timeline rather than accelerating repayment.