Jaykay Enterprises executed a loan agreement to provide up to ₹10 crore to its 50:50 joint venture, JK Phillips LLP.
The unsecured inter-corporate deposit carries a 10% annual interest rate and is repayable as mutually decided.
This related party transaction is disclosed as being conducted on an arm's length basis per SEBI regulations.
The company's total outstanding loans to JK Phillips LLP will reach ₹14.7 crore including this new facility.