Kirloskar Electric Secures ₹100 Cr Working Capital Facility

Kirloskar Electric Company Limited has executed a Master Facility Agreement (MFA) with Kotak Mahindra Bank Limited for working capital credit facilities amounting to ₹100,00,00,000 (Rupees One Hundred Crore Only). The facilities include Dropline Overdraft and Overdraft against Fixed Deposits. This agreement, approved by the Board of Directors, aims to meet the company's working capital requirements. No special rights have been granted to the lender, and the transaction is not considered a related party transaction. Security for the facilities includes current assets, specific immovable property, personal guarantees, and corporate guarantees.