Race Eco Chain Guarantees ₹4.97 Cr Facility for Subsidiary

Race Eco Chain Ltd has announced it is extending a corporate guarantee to its material subsidiary, Silverline Eco Thrive Limited. This guarantee is in relation to a credit funding facility sanctioned by the Bank of India, amounting up to ₹4,97,00,000 (Rupees Four Crore Ninety Seven Lac Only). The company has stated that none of its promoters or promoter group have any interest in this transaction, except for a common directorship held by Mr. Pranav Vasan for corporate governance compliance. The transaction is conducted on an arm's length basis. The guarantee is for the subsidiary and is part of the consolidated group. Currently, there is no impact on Race Eco Chain Ltd, other than the required financial statement disclosure.