Partnership13 Sept 2024, 04:53 pm
Pharmaids Pharmaceuticals to Avail Rs 5 Crore Loan from Related Party Moki Financial Services
AI Summary
Pharmaids Pharmaceuticals Ltd. has entered into a loan agreement with Moki Financial Services, a related party, to avail a loan of up to Rs 5,00,00,000. The loan will be used for working capital requirements, general business purposes, and repayment of existing loans and liabilities. The loan agreement was signed on 12-09-2024 and the company received the signed copy on 13-09-2024. The loan is unsecured and has an interest rate of 12% per annum. The loan period is 5 years from the date of disbursement.
Key Highlights
- Pharmaids Pharmaceuticals to avail loan of up to Rs 5 crore from related party Moki Financial Services.
- Loan to be used for working capital requirements, general business purposes, and repayment of existing loans and liabilities.
- Loan agreement signed on 12-09-2024 and received on 13-09-2024.
- Loan is unsecured with an interest rate of 12% per annum.
- Loan period is 5 years from the date of disbursement.