Intimation on Execution of Equitable Mortgage by Deposit of Titile Deeds by Material Subsidiary "SAI MACHINE TOOLS PRIVATE LIMITED"
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Awaiting price reaction for this filing.
SMT Engineering Ltd's wholly owned material subsidiary, Sai Machine Tools Private Limited, has executed an equitable mortgage by deposit of title deeds in favor of Punjab National Bank on December 4, 2025. The mortgage secures an existing credit facility of Rs. 45.33 Crores, which includes fund-based limits, non-fund-based limits, and a term loan. The security covers three industrial buildings located on Sanwer Road in Indore (totalling about 43,550 sq. ft.), and the promoters have additionally pledged personal properties to back the same facility.
This is a security-pledge arrangement for a loan that already exists, not new borrowing, so there is no fresh debt being added. However, subsidiary and promoter assets are now formally encumbered with PNB, which slightly reduces financial flexibility and warrants monitoring if any stress signals emerge in future filings.