Key Quantitative Figures
- Corporate guarantee amount: ₹55,00,000 (Rupees Fifty-Five Lakhs only)
- Maximum approved guarantee limit: ₹75,00,000 (Rupees Seventy-Five Lakhs only)
Dates of Action
- Board approval date: May 29, 2026
- Transaction execution date: June 13, 2026 (intimation date)
Parties Involved
- Guarantor: Pharmaids Pharmaceuticals Limited
- Borrower: Adita Bio Sys Private Limited (unlisted material subsidiary)
- Beneficiary: State Bank of India, SME Branch, 4th Cross, Ashok Nagar, Tumkur
Purpose and Rationale
The corporate guarantee was provided to secure a new loan facility under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, an initiative by the Government of India. The facility is being availed by Adita Bio Sys Private Limited.
Transaction Details
The Corporate Guarantee Agreement of ₹55,00,000 was entered into with State Bank of India to secure the new loan facility under ECLGS 5.0. The board had previously approved providing corporate guarantees up to ₹75,00,000 for any Banks/Financial Institutions for this facility.
Ownership and Related Party Aspects
The promoter/promoter group/group companies do not have any interest in this transaction, confirming it is conducted at arm's length.
Financial Impact Assessment
The corporate guarantee provided is classified as a contingent liability for the Company. The disclosure explicitly states: "Presently, there is no impact of this guarantee on the Company" as the subsidiary is part of the consolidated group.
Additional Information
#PharmaidsPharmaceuticals #CorporateGuarantee #SEBIRegulation30 #SubsidiaryFunding #ECLGS5.0 #Neutral