Sayaji Hotels Limited has disclosed that its Board of Directors approved the issuance of a Corporate Guarantee during their meeting held on Thursday, June 25, 2026.
The corporate guarantee is for an amount of ₹50,00,00,000 (Rupees Fifty Crores Only) in favor of Axis Bank Limited. This guarantee is being provided to secure a loan to be availed by VICON Imperial (I) Private Limited.
VICON Imperial (I) Private Limited is identified as a Group Company of Sayaji Group, with 51% shareholding held by some promoters of Sayaji Hotels Limited. The company states that the transaction has been undertaken on an arm's length basis.
According to the disclosure, the corporate guarantee will create a contingent liability for Sayaji Hotels Limited to the extent of facilities availed by the borrower (VICON Imperial). However, the company explicitly states that "Presently, there is no impact on the Company."
The disclosure includes a note that requisite information from the bank pertaining to the loan and corporate guarantee is still under process. The company commits to provide further details to the Stock Exchange as and when received from the bank.
The document was signed by Puneet Karade, Company Secretary and Compliance Officer of Sayaji Hotels Limited, on June 25, 2026 at 18:44:48 IST.