The purpose of the agreement is for business expansion.
The size of the agreement is ₹15.60 Crores (Rupees Fifteen Crores and Sixty Lakhs Only).
There is no shareholding in the entity with whom the agreement is executed.
Significant Terms of the Agreement
- Interest Rate: 8.75% per annum (floating rate)
- Tenure: The loan is given for a maximum period of 144 months.
- Nature of Loan: Loan against Property (LAP)
- Amount of Loan Granted: ₹15.60 Crores
- Total amount outstanding: Nil
- Security Provided: First charge over the Company's property, located at B-10/13 DLF Phase 1, Gurugram-122003.
The said parties are not related to promoter/promoter group/group companies in any manner. The transaction does not fall within related party transactions and is not applicable.
There are no other disclosures related to such agreements, including details of nominee on the board, potential conflict of interest, etc.
This disclosure is made in accordance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.