MoU5 Sept 2024, 12:55 am
Suraj Industries Ltd. Amends Loan Agreement with Subsidiary Carya Chemicals & Fertilizers Private Limited
AI Summary
Suraj Industries Ltd. has executed an Amendment Agreement to the Loan Agreement with its material subsidiary, Carya Chemicals & Fertilizers Private Limited, on September 04, 2024. The initial loan size of Rs. 5 Crore, executed on October 11, 2023, has been revised to Rs. 12.50 Crores. The interest rate has been reduced from 12.50% to 9.85% per annum, in line with the Term Loan sanctioned by UCO Bank to Carya for setting up a Distillery and Bottling Unit for IMFL & Country Liquor. The loan is to be given for a maximum period of 3 Years from the date of disbursement, but may be extended by mutual discussion.
Key Highlights
- Suraj Industries Ltd. amends loan agreement with subsidiary Carya Chemicals & Fertilizers Private Limited.
- The initial loan size of Rs. 5 Crore has been revised to Rs. 12.50 Crores.
- The interest rate has been reduced from 12.50% to 9.85% per annum.
- The loan is given for a maximum period of 3 Years from the date of disbursement.
- The amendment agreement was executed on September 04, 2024.