Key Transaction Details
Guarantee Issued To: Bank of India
Beneficiary Borrower: Gayatri Infrastructure Limited (GIL)
Guarantee Amount: ₹40,00,00,000 (Rupees Forty Crore only)
Scope of Guarantee: Covers principal amount not exceeding ₹40 crore, together with all interest, additional/penal interest, charges, liquidated damages, costs, and expenses payable by GIL under relevant financing documents.
Promoter/Promoter Group Interest
Yes, promoters/promoter group have interest in this transaction:
- Maitri Enterprises Limited holds 15.98% of GIL's equity share capital
- Promoters/Directors of Maitri Enterprises (Mr. Rameshlal B. Ambwani, Mr. Deepak R. Ambwani, Mr. Jaikishan R. Ambwani, and Mrs. Sarla Jaikishan Ambwani) are directors/promoters/shareholders of GIL
- Promoters collectively hold 26.77% of GIL's equity share capital
- Transaction conducted at arm's length on mutually agreed commercial terms
- Compliance with Companies Act, 2013 and SEBI Listing Regulations confirmed
Financial Impact
The Corporate Guarantee represents a contingent liability for Maitri Enterprises Limited up to an amount of ₹40.00 Crore (plus applicable interest, charges, and costs). There is no immediate cash outflow or adverse financial impact on the operations of the Company, subject to GIL duly servicing its obligations under the credit facilities.
Purpose of Credit Facility
The credit facilities secured by the Corporate Guarantee are to be utilized solely for financing the construction and development of the "Maitri Elevate Scheme" situated at Motera, Ahmedabad - 380005, which is in line with GIL's principal business activities.