CMR Green Technologies Provides $4M Bank Guarantee for Subsidiary Loan

CMR Green Technologies Ltd has issued a bank guarantee in the form of a Stand-by Letter of Credit (SBLC) amounting to $4,00,000 for its wholly owned foreign subsidiary, CMR Green LLC, USA. This guarantee is in connection with a Foreign Currency Term Loan (FCTL) availed by the subsidiary through HSBC Bank, USA. The company states that the promoters/promoter group have no interest in this transaction, and it is conducted on an arm's length basis. The issuance of the SBLC represents a contingent liability for CMR Green Technologies, with no immediate impact on the listed entity.