Loan & Debt24 Mar 2026, 06:14 pm
PAE Ltd Borrowing Rs. 100 Crores from Promoter and Director
AI Summary
PAE Ltd has entered into a Loan Agreement dated 23-03-2026 with Promoter and Director Mr. Jatinbhai Ramanbhai Patel for an unsecured loan of Rs. 100,00,00,000 (Rupees One Hundred Crores Only), convertible into equity shares of the company at a later date. The loan was approved by the board of directors in their meeting held on 06th February, 2026 and by the shareholders in the Annual General Meeting held on 07rd March 2026. The loan will be disbursed in one or more tranches as and when required, as mutually agreed, via banking channels into the Borrower’s designated bank account.
Key Highlights
- PAE Ltd borrowing Rs. 100 Crores from Promoter and Director
- Loan to be converted into equity shares of the company at a later date
- Loan approved by the board of directors and shareholders
- Loan to be disbursed in one or more tranches as and when required
- Not at arm’s length as the loan is interest free