Loan & Debt29 Jul 2026, 06:41 pm
S.P. Apparels Ltd Executes Loan Agreement with UK Subsidiary
AI Summary
S.P. Apparels Ltd has entered into a Loan Agreement with its wholly-owned subsidiary, S.P. Apparels (UK) (P) Limited. The agreement provides a loan facility of up to GBP 4,50,000 exclusively for the subsidiary's business and operations. The loan is unsecured, carries an interest rate of 7% per annum, and is payable on demand or within 3 years, whichever is earlier. This transaction is classified as a related party transaction and is conducted at arm's length.
Key Highlights
- Loan agreement executed with wholly-owned UK subsidiary.
- Facility up to GBP 4,50,000 for subsidiary's operations.
- Unsecured loan with 7% annual interest.
- Transaction is at arm's length, classified as related party.
- Loan payable on demand or within 3 years.
Price Impact
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