Ventive Hospitality Guarantees ₹290 Cr for Subsidiary

Ventive Hospitality Ltd announced that its Board of Directors has approved providing a corporate guarantee to ICICI Bank Limited. This guarantee is for securing credit facilities sanctioned to Kelzai Eco Reserves Private Limited, a wholly owned subsidiary. The maximum amount of the guarantee is Rs. 290 crores. The corporate guarantee will be treated as a contingent liability for Ventive Hospitality, with no immediate impact expected on the company. The promoters and promoter group have no interest in this transaction, ensuring it is conducted at arm's length.