Zeal Aqua Limited has disclosed the availing of credit facilities aggregating to ₹10,88,04,000 (Rupees Ten Crore Eighty-Eight Lacs Four Thousand Only) from Punjab National Bank, Mid Corporate Center [M.C.C.], Surat. The facility was sanctioned under the Emergency Credit Line Guarantee Scheme (ECLGS/ECGL).
Key Details of the Loan Agreement:
- Parties Involved: Lender - Punjab National Bank, Mid Corporate Center [M.C.C.], Surat; Borrower - Zeal Aqua Limited
- Purpose: To meet the working capital/business operation requirements of the Company
- Nature of Loan: Term Loan under Emergency Credit Line Guarantee Scheme
- Total Amount: ₹10,88,04,000
- Security Arrangements: The facility shall rank second charge with the existing credit facilities (primary and collateral). Punjab National Bank shall ensure to create charge on existing securities (primary as well as collateral) and on assets created out of the loan under ECLGS 5.0, within 90 days from the date of first disbursement.