Shanti Educational Issues Rs 59.1M Comfort Letter

Shanti Educational Initiatives issued a Letter of Comfort for subsidiary Uniformverse's Rs 59.10 million ICICI Bank credit facilities.
The comfort letter affirms no dilution of ownership in the subsidiary without bank consent if commitments are unfulfilled.
The company clarified this is not a financial guarantee unless a separate Deed of Guarantee is executed.
Promoters or group companies have no interest in this arm's length transaction with the subsidiary.