Agribio Spirits Extends Corporate Guarantee of Rs. 70 Crores to Associate Company Agribiotech Industries Limited

Agribio Spirits Limited has extended a Corporate Guarantee in favour of the consortium member banks, led by Punjab National Bank, for securing the Cash Credit facilities of Rs. 70.00 Crores availed by Agribiotech Industries Limited. The Promoters of Agribio Spirits Limited are interested in this transaction due to their shareholding and directorship in Agribiotech Industries Limited. The transaction is done at an arm's length basis. The guarantee amount could potentially impact Agribio Spirits Limited if Agribiotech Industries Limited fails to meet its repayment obligations to the lenders.