Bai-Kakaji Polymers Ltd to Provide Loan Up to Rs. 10 Crore to Wholly Owned Subsidiary

Bai-Kakaji Polymers Limited (the Company) has entered into a loan agreement with its wholly owned subsidiary, Mundada Polymers Private Limited, to provide a loan up to Rs. 10.00 crores. The loan will be used by Mundada Polymers to acquire plant & machineries & raw materials. The agreement does not contain any special rights and the interest rate is 7.50%. The tenor of the loan is up to 5 years. The transaction is at arm’s length and falls within related party transactions as the borrower is a wholly owned subsidiary of the Company. The loan is unsecured.