Loan & Debt25 Jun 2026, 03:56 pm
Asia Pack Ltd Extinguishes ₹23 Lakh Corporate Guarantee
AI Summary
Asia Pack Ltd has announced the full discharge and extinguishment of a corporate guarantee amounting to ₹23 Lakhs. This guarantee was previously provided to Saraswat Co-Operative Bank Limited to secure additional credit facilities for Miraj Entertainment Limited, a company within the Promoter Group. The extinguishment follows the complete repayment and closure of the underlying credit facilities by the borrower. Consequently, Asia Pack Ltd's contingent liability has been reduced by ₹23 Lakhs, with no adverse impact on its operations, financial position, or going concern status.
Key Highlights
- Corporate guarantee of ₹23 Lakhs fully extinguished.
- Guarantee secured credit facilities for Miraj Entertainment Limited.
- Extinguishment follows borrower's full repayment of loans.
- Contingent liability reduced; no adverse financial impact.
- Transaction was conducted on an arm's length basis.
Price Impact
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