Loan & Debt21 Aug 2026, 12:53 pm
Monte Carlo Fashions Ltd. inks ₹19 Cr loan pact with subsidiary
AI Summary
Monte Carlo Fashions Limited has executed a Loan Agreement with its wholly-owned subsidiary, MCFL Energy Projects Private Limited. The agreement is for a loan amount not exceeding ₹19 Crore, to be disbursed in one or more tranches. This funding is intended to meet the subsidiary's requirements for its ongoing and proposed energy-related projects under the KUSUM-C Scheme. The loan has a tenor of up to 5 years with an annual interest rate of 9%. This transaction is classified as a related party transaction but is conducted at arm's length.
Key Highlights
- Monte Carlo Fashions Ltd. provides ₹19 Cr loan to subsidiary MCFL Energy Projects.
- Funds are for solar project implementation under KUSUM-C Scheme.
- Loan carries a 9% annual interest rate with a 5-year tenor.
- Transaction is a related party deal, conducted at arm's length.
- Investment is part of approved funding up to ₹30 Cr.
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