MoU24 Aug 2024, 12:09 am
Exicom Tele-Systems Grants Rs. 175 Crores Loan to Wholly Owned Subsidiary for Global Business Expansion
AI Summary
Exicom Tele-Systems Ltd. has entered into a Loan Agreement with its wholly owned subsidiary, Exicom Power Solutions B.V., Netherlands, for an unsecured loan of Rs. 175.00 Crores. The purpose of this loan is to infuse funds into wholly-owned subsidiaries in the USA and Australia, which will facilitate business growth and expansion. The interest rate for the loan is set at 12.50% per annum, and the disbursement will be made in one or more instalments as needed.
Key Highlights
- Exicom Tele-Systems Ltd. has granted an unsecured loan of Rs. 175.00 Crores to its wholly owned subsidiary, Exicom Power Solutions B.V., Netherlands.
- The loan will be used to infuse funds into wholly-owned subsidiaries in the USA and Australia for business growth and expansion.
- The interest rate for the loan is 12.50% per annum, and the disbursement will be made in one or more instalments as needed.
- Exicom Tele-Systems Ltd. holds 100% shares of Exicom Power Solutions B.V.
- The loan agreement does not contain terms pertaining to right to appoint directors, first right to share subscription in case of issuance of shares, or right to restrict any change in capital structure.