Viviana Power Tech Limited has informed the Exchange about Giving Corporate guarantees on behalf of Aarsh Transformers Private Limited, Subsidiary of the Company.
VIVIANA · price
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Viviana Power Tech Limited has issued a corporate guarantee of up to Rs. 8.08 crore on behalf of its subsidiary, Aarsh Transformers Private Limited, to help it avail a debt facility from HDFC Bank Limited. The directors of Viviana also serve on the board of the subsidiary, and the guarantee has been confirmed to be at arm's length. The company has stated this will only show up as a contingent liability in its financial statements and there is no other material impact at this stage. The disclosure is being made under SEBI Listing Regulations and the November 2024 SEBI circular on guarantees.
For shareholders, this means Viviana is backstopping a relatively small borrowing of about Rs. 8 crore for its subsidiary, which adds a contingent liability on the parent. While not immediately affecting earnings, it ties the parent's credit profile to the subsidiary's debt obligations with HDFC Bank.