Loan28 March 2026 at 02:21 pm
S.A.L. Steel Ltd. Approves Borrowing of Rs. 150 Crore from YES Bank and Seeks Shareholder Approval for Enhanced Borrowing Limit
AI Summary
S.A.L. Steel Ltd. held a Board Meeting on 28.03.2026 where they approved several key decisions. The company has agreed to borrow Rs. 150 Crore from YES Bank Limited by way of a Working Capital Facility. This borrowing is secured by hypothecation on current assets, movable fixed assets, and an equitable mortgage on industrial property. The Board also proposed to seek shareholder approval for enhancing the borrowing limit to raise up to Rs. 2000 Crore for business purposes and to mortgage or charge the company's properties for securing the borrowing.
Key Highlights
- S.A.L. Steel Ltd. to borrow Rs. 150 Crore from YES Bank Limited
- The borrowing is secured by hypothecation on current assets, movable fixed assets, and an equitable mortgage on industrial property
- The Board proposed to seek shareholder approval for enhancing the borrowing limit up to Rs. 2000 Crore
- The proposed borrowing will be used for the company's business purposes
- The company may mortgage or charge its properties for securing the borrowing
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