Nature of the Event
Mukka Proteins Limited has made a regulatory disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding an inter-corporate loan agreement with its subsidiary.
Key Quantitative Figures
- Total loan amount: ₹9,10,00,000 (Rupees Nine Crore Ten Lakh Only)
- Amount outstanding as of disclosure date: ₹3,01,22,744.17
- Interest rate: 8% per annum
- Company's stake in borrower: 68%
- Loan tenure: 5 years from date of disbursal
Dates of Action
- Date of execution of Loan Agreement: 9th July 2026
- Disclosure date: 9th July 2026
Parties Involved
- Lender: Mukka Proteins Limited
- Borrower: M/s. United Gulf Fishery Products LLC (subsidiary company)
Purpose and Rationale
The loan was provided due to "urgent business commitments" of the subsidiary company.
Significant Terms of Agreement
- Nature of loan: Unsecured loan
- Interest rate: 8% per annum
- Tenure: 5 years from date of disbursal
Relationship and Transaction Nature
- The borrower is a subsidiary company of Mukka Proteins Limited
- The transaction qualifies as a related party transaction
- The transaction is conducted on an "arm's length" basis
Security and Structure
- The loan is unsecured (no security provided)
- No special rights like board representation, share subscription rights, or capital structure restrictions mentioned
Financial Impact
The disclosure indicates an outflow of up to ₹9.1 crore from Mukka Proteins to its subsidiary, with ₹3.01 crore already disbursed as of the disclosure date. The loan carries an 8% annual interest income potential for the company.
#Tags: #MukkaProteins #InterCorporateLoan #SEBIDisclosure #RegulatoryCompliance #SubsidiaryFunding #Neutral