SMT Engineering Subsidiary Secures ₹6.24 Cr Credit Facility

SMT Engineering Ltd's material subsidiary, Sai Machine Tools Private Limited, has executed an Equitable Mortgage/Deposit of Title Deeds with Punjab National Bank. This is in connection with credit facilities amounting to ₹6.24 Crores (Rupees Six Crores and Twenty-Four Lakhs). The facility is an ECLGS 5.0 Working Capital Term Loan with a tenure of 5 years. The transaction is considered an arm's length transaction, and the subsidiary is a wholly-owned material subsidiary with common directors and promoters.