Investment25 Mar 2026, 08:31 pm
Rajapalayam Mills Ltd. Provides Corporate Guarantee of Rs. 40 Crores to Sandhya Spinning Mill Ltd.
AI Summary
Rajapalayam Mills Ltd. has submitted a Corporate Guarantee of Rs. 40 Crores to M/s. Kotak Mahindra Investments Limited on behalf of M/s. Sandhya Spinning Mill Limited. This guarantee is provided in connection with a Loan facility sanctioned by M/s. Kotak Mahindra Investments Limited to M/s. Sandhya Spinning Mill Limited. The disclosure is required under Para B of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
Key Highlights
- Rajapalayam Mills Ltd. provides Corporate Guarantee of Rs. 40 Crores to Sandhya Spinning Mill Ltd.
- Guarantee provided in connection with a Loan facility sanctioned by Kotak Mahindra Investments Limited to Sandhya Spinning Mill Limited.
- Rajapalayam Mills Ltd. is not holding any shares in Sandhya Spinning Mill Limited or Kotak Mahindra Investments Limited.
- If Sandhya Spinning Mill Limited commits any default, Rajapalayam Mills Limited will pay the outstanding amount to Kotak Mahindra Investments Limited.
- Sandhya Spinning Mill Limited is a Member of Promoter Group of Rajapalayam Mills Limited and holds 0.01% Equity Shares in Rajapalayam Mills Limited.