Transaction Overview
Deccan Gold Mines Limited (the "Borrower") has completed documentation for availing a loan of ₹3 Crore from Modali Consultants LLP (the "Lender").
Key Transaction Details
Parties Involved:
- Borrower: Deccan Gold Mines Limited
- Lender: Modali Consultants LLP
Purpose: For development of the company's project.
Loan Terms:
- Loan Amount: ₹3 Crores
- Tenure: 12 months
- Interest Rate: 12% per annum, compounded quarterly
- Interest Payment: Payable at the end of the tenure
Security Arrangements:
The loan is secured by a pledge of 18,750 equity shares held by Deccan Gold Mines Limited in Geomysore Services (India) Private Limited.
Relationship Status:
- The parties are not related to promoter/promoter group/group companies
- The transaction does not qualify as a related party transaction
- Shareholding in the entity with whom the agreement is executed: Nil