Transaction Details
The Company is issuing a corporate guarantee towards a loan being availed by Prestige Alta Vista Properties LLP, which is a wholly owned subsidiary of the Company.
Guarantee Specifics
- Borrower: Prestige Alta Vista Properties LLP
- Lender: Axis Bank Limited
- Guarantee Amount: Up to ₹370 Crores
- Transaction Nature: Arm's length basis with no promoter/promoter group interest
- Regulatory Compliance: Done in compliance with Companies Act, 2013 and SEBI Listing Regulations
Financial Impact Assessment
The corporate guarantee provided is classified as a contingent liability for the Company. The disclosure explicitly states that at this point, there is no impact of this guarantee on the Company. The guarantee has been provided on behalf of the wholly owned subsidiary which is part of the consolidated group.