Nature of the Event
Asia Pack Limited has intimated the discharge and extinguishment of an additional corporate guarantee of ₹23 lakh that was previously provided to Saraswat Co-Operative Bank Limited for securing additional credit facilities availed by Miraj Entertainment Limited.
Key Quantitative Figures
The corporate guarantee amount was ₹23 lakh (₹2,300,000).
Dates of Action
The original guarantee was intimated on 9th March 2023. The current intimation of discharge was made on 25th June 2026.
Parties Involved
- Guarantor: Asia Pack Limited
- Borrower: Miraj Entertainment Limited
- Bank: Saraswat Co-Operative Bank Limited
Relationship Between Parties
Miraj Entertainment Limited forms part of the Promoter Group of Asia Pack Limited as per the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The corporate guarantee was furnished on an arm's length basis.
Financial Impact
The extinguishment of the ₹23 lakh corporate guarantee has reduced the contingent liability of the Company by that exact amount. The disclosure explicitly states that this extinguishment has no adverse impact on the operations, financial position, or going concern status of the Company.
Purpose/Rationale
The guarantee was originally provided to secure additional credit facilities being availed by Miraj Entertainment Limited. The discharge occurred pursuant to repayment and closure of these additional credit facilities by the borrower.