Smart Finsec Ltd issues corporate guarantee of Rs. 30 crores against group company's borrowing

Smart Finsec Limited (Company) has issued Corporate Guarantee for an amount not exceeding INR 30 crores to Axis Bank Limited for securing the Credit Facility availed by Smart Equity Brokers Private Limited (Group Company - is part of same promoter/promoter group entity).

The agreement was entered on 19th July, 2023 amongst Smart Equity Brokers Pvt. Ltd and Axis Bank Limited, and liability as a corporate guarantor on Smart Finsec Limited came into effect on 28th November 2023 pursuant to addendum to the agreement dated 28th November 2023.

Smart Equity Brokers Private Limited availed Credit Facility of Rs. 130 Crores (Bank Guarantee, Intraday, and Overdraft against property facility) from Axis Bank Limited.

Smart Finsec Limited does not hold any shares in the entities which are parties to the Agreement.

Source : Equity Bulls

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SmartFinsec CorporateGuarantee SmartEquityBrokers