Ultramarine Pigments Loans ₹65 Crore to Thirumalai Chemicals

Ultramarine Pigments disclosed a ₹65 crore inter-corporate loan agreement with related party Thirumalai Chemicals Ltd.
The unsecured loan carries 10% annual interest, compounded quarterly, with a three-year tenure.
Both companies hold significant cross-shareholdings, with Ultramarine owning 18.23% of TCL and TCL owning 14.38% of Ultramarine.
The transaction is classified as a related party transaction but is stated to be conducted on an arm's length basis.