Popular Vehicles and Services Ltd Extends Corporate Guarantee to Wholly Owned Subsidiary Popular Autoworks Private Limited

Popular Vehicles and Services Ltd (PVSL) has announced the extension of a Corporate Guarantee in favor of Axis Bank Limited for the renewal and enhancement of the Inventory funding facility (Jaguar Land Over DF Scheme) up to Rs.20,00,00,000/- (Rupees Twenty Crores only) for its wholly owned subsidiary, Popular Autoworks Private Limited. This decision is part of PVSL's commitment to support its subsidiary and ensure its operational efficiency. The guarantee is provided at arm's length and there is no impact on the company other than disclosure in the Financial Statements.