Investment12 Mar 2025, 10:13 pm
Satin Creditcare Network Ltd. Enhances Letter of Comfort Limit to INR 300 Crore for Subsidiary Satin Housing Finance Ltd.
AI Summary
Satin Creditcare Network Ltd. has announced the enhancement of the limit for issuance of Letter of Comfort/Side Letter or any other letter to third parties with respect to credit facilities availed/to be availed by its wholly owned subsidiary, Satin Housing Finance Limited (SHFL). The new limit is set at INR 300 Crore, up from the existing limit of INR 200 Crore. This decision was made at the company's meeting held on March 12, 2025. This move is not a guarantee on the part of the Company to make payment on behalf of the subsidiary in case of default, and it is expected to have no impact on the Company's financials.
Key Highlights
- Satin Creditcare Network Ltd. enhances the limit for issuance of Letter of Comfort to INR 300 Crore.
- The enhancement is for credit facilities availed/to be availed by its subsidiary, Satin Housing Finance Limited.
- The decision was made at the company's meeting held on March 12, 2025.
- This is not a guarantee for payment in case of default by the subsidiary.
- The move is expected to have no impact on the Company's financials.