Loan & Debt26 May 2025, 10:12 pm
Baroda Rayon Corporation Ltd Secures INR 100 Crore Term Loan from State Bank of India for Commercial Real Estate Project
AI Summary
Baroda Rayon Corporation Ltd has entered into a loan agreement with State Bank of India to avail a term loan of INR 100 Crore for a commercial real estate project. The loan is secured and does not involve any shareholding or related party transactions. The company will provide a first charge on the hypothecation of movable assets, cash flows, and receivables from the project, as well as a registered mortgage of land and building of 197 units in phase I part B of Surat Textile Bourse and 9 plots in the name of Sejima Texyarn Pvt Ltd and Kanchenjunga Texturisers Private Limited.
Key Highlights
- Baroda Rayon Corporation Ltd has secured a term loan of INR 100 Crore from State Bank of India.
- The loan is for a commercial real estate project.
- The loan is secured and does not involve any shareholding or related party transactions.
- The company will provide a first charge on the hypothecation of movable assets, cash flows, and receivables from the project.
- The company will also provide a registered mortgage of land and building of 197 units and 9 plots.