Shree Tirupati Balajee Agro Issues ₹4.09 Cr Guarantee

Shree Tirupati Balajee Agro Trading Company Ltd. has issued a corporate guarantee of ₹4.09 Crores to Bank of Baroda for the Additional Working Capital Term Loan facility availed by its material subsidiary, Jagannath Plastics Private Limited. The guarantee is provided as security under the terms of the sanction letter between the lender and Jagannath Plastics. A promoter of Shree Tirupati Balajee Agro is also a director and shareholder of Jagannath Plastics, creating an interest in the transaction, which is conducted on an arm's length basis. The guarantee's impact on Shree Tirupati Balajee Agro is limited to the guarantee amount if Jagannath Plastics defaults.