Loan & Debt27 Feb 2025, 11:42 pm
INSECTICIDES (INDIA) LTD. Provides Letter of Comfort to ICICI Bank for Kaeros Research Subsidiary's Working Capital
AI Summary
INSECTICIDES (INDIA) LTD. has issued a Letter of Comfort to ICICI Bank for a working capital facility of up to Rs. 52,00,00,000/- (Rupees Fifty-Two Crores only) for its Wholly Owned Subsidiary, Kaeros Research Private Limited. This decision was made to support Kaeros Research's operations and is disclosed as a Contingent Liability in the Financial Statements.
Key Highlights
- INSECTICIDES (INDIA) LTD. issues Letter of Comfort to ICICI Bank for Kaeros Research Private Limited's working capital
- The facility amount is up to Rs. 52,00,00,000/- (Rupees Fifty-Two Crores only)
- No impact on the Company other than disclosure in Financial Statements as a Contingent Liability
- Kaeros Research Private Limited is a Wholly Owned Subsidiary of INSECTICIDES (INDIA) LTD.
- This decision supports Kaeros Research's operations