Bhagiradha Extends ₹30 Cr Guarantee for Subsidiary

Bhagiradha Chemicals & Industries Ltd has extended a corporate guarantee of ₹30 Crores on behalf of its wholly-owned subsidiary, Bheema Fine Chemicals Private Limited. This guarantee is in favor of ICICI Bank Limited to secure credit limits sanctioned to the subsidiary. The company stated that the promoter/promoter group has no interest in this transaction, and it is conducted on an arm's length basis. The guarantee will be reflected as a contingent liability in Bhagiradha's books, with no immediate impact on the company's financial position.