Board Meeting Details
The Board Meeting of Sanmit Infra Limited was held on Thursday, June 4, 2026, at 3:00 PM at the company's registered office. The meeting commenced at 3:00 PM and concluded at 4:30 PM.
Approved Matter
The Board considered and approved the terms and conditions of the Sanction Letter received from ICICI Bank for Availability of Guaranteed Emergency Credit Line (GECL) by way of working capital term loan facility under the Emergency Credit Line Guaranteed Scheme 5.0 (ECLGS).
Loan Agreement Details
Parties: ICICI Bank Limited (Lender) and Sanmit Infra Limited (Borrower)
Purpose: The facility is granted for meeting the working capital requirements of the Borrower and for creation of current assets. Proceeds shall not be used for investment in capital market, ESOPs, land acquisition, acquiring equity shares, buyback of shares, funding promoters' contribution, or any prohibited/illegal activity.
Loan Size: ₹2,00,00,000/- (Two Crore Rupees)
Shareholding: No shareholding exists between the company and ICICI Bank
Significant Terms:
- Tenure: 5 years from date of disbursement including 1 year moratorium period
- Interest Rate: I-EBLR + Spread (subject to maximum spread of 0.75% and overall cap of 9.00% per annum as per ECLGS 5.0 guidelines) plus applicable statutory charges
- Interest Payment: Monthly basis
- Moratorium: 12 months on principal amount
- Repayment: 48 equal monthly installments after moratorium period
Relationship to Promoters: The parties are not related to promoter/promoter group/group companies
Related Party Transaction: Does not qualify as related party transaction
Execution Dates:
- Date of Sanction Letter: May 30, 2026
- Date of Signing Sanction Letter: June 1, 2026
Security Details:
The facility shall rank second charge with the Existing Facility in terms of cash flows and shall be secured by:
1. Extension of second ranking charge over all existing securities (including mortgage) created in favor of ICICI Bank for the Existing facility
2. Charge to be created on the assets created out of the Facility
The existing security shall remain in full force as continuing security. Failure to create perfect security within specified timelines will result in Additional Interest payment over and above the Applicable Interest Rate.
Additional Disclosures: No conflict of interest arising out of the agreement