Main Body
The agreement was executed on June 11, 2026.
Key Terms:
- Lender: S.P. Apparels Limited
- Borrower: S.P. Apparels (UK) (P) Limited
- Purpose: Exclusively for the borrower's business and operations.
- Loan Amount: Up to a maximum limit of GBP 40,00,000 (Four Million British Pounds).
- Nature of Loan: Unsecured.
- Tenure: The loan shall be payable on demand or within 3 years, whichever is earlier.
- Interest Rate: 9% per annum, payable with annual rests.
- Security: None (Unsecured Loan).
Relationship & Approvals:
The borrower is a 100% wholly owned subsidiary of the company. Consequently, this transaction falls within the definition of a Related Party Transaction. The company has disclosed that the transaction was conducted at arm's length. The disclosure is made in compliance with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
The agreement does not contain any special rights for the lender, such as the right to appoint directors, first right to share subscription, or the right to restrict changes in the capital structure.
Other Key Announcements
This disclosure pertains solely to the loan agreement. No other material announcements are contained within this document.