Board approves Rs. 20 crore corporate guarantee to subsidiary Cloud Wave Technologies
Board approved a corporate guarantee of up to Rs. 20,00,00,000 to subsidiary Cloud Wave Technologies Pvt Ltd.
By ScoutQuest · · 1 min read
- Corporate Guarantee Amount
- Rs. 20,00,00,000
- Beneficiary
- Cloud Wave Technologies Pvt Ltd (subsidiary)
- Purpose
- Replaces personal guarantees given by Cloud Wave's erstwhile shareholders to various banks
- Guarantee Duration
- Lasts as long as the underlying credit facilities
- Promoter Interest
- Promoters have no interest in the transaction
What was decided
At its Board meeting held on September 24, 2026, the Board approved issuance of a corporate guarantee of up to Rs. 20,00,00,000 (Rupees Twenty Crores only) in favour of its subsidiary, Cloud Wave Technologies Private Limited.
Why
- The guarantee replaces personal guarantees issued by the erstwhile (exiting) shareholders of Cloud Wave to various banks.
- It is intended to facilitate Cloud Wave's banking arrangements.
Tenure
- The guarantee will subsist with the tenure of the underlying credit facilities.
Related-party angle
- The promoters/promoter group do not have any interest in this transaction.
- The transaction is with a subsidiary, in the ordinary course of business and on an arm's length basis.
Stated impact
- Since the beneficiary is a subsidiary forming part of the consolidated group, the company says no material adverse impact on the Company is currently envisaged.
Meeting
- The Board meeting commenced at 03:00 PM (IST) and concluded at 04:21 PM (IST).
In simple terms, a corporate guarantee means Axiscades commits to the banks that if the subsidiary cannot repay, the parent will. It is a contingent obligation rather than an immediate cash outflow.
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More numbers
- Corporate guarantee amountRs. 20,00,00,000/- (Rupees Twenty Crores only)
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