Belrise Industries issued a corporate guarantee of GBP 13.86 million to ICICI Bank UK PLC for its step-down subsidiary Belrise UK Holdings Limited.
The guarantee serves as security for a term loan facility and represents a contingent liability for the parent company with no immediate financial impact.
This disclosure is made under SEBI Listing Regulations (Reg. 30) and confirms the transaction is at arm's length with no promoter interest.
The guarantee is a continuing one, valid for the period of the loan facility, and the intimation has been hosted on the company's website.