Corporate Guarantee issued in favour of Bank of India for Rs. 40 Crore credit facilities to Gayatri Infrastructure
Maitri Enterprises issued a Corporate Guarantee in favour of Bank of India for credit facilities to Gayatri Infrastructure Ltd, covering principal of up to Rs. 40 crore (Rupees Forty Crore).
By ScoutQuest · · 2 min read
- Corporate Guarantee Amount
- principal of up to Rs. 40 crore (Rupees Forty Crore)
- Contingent Liability
- contingent liability of up to Rs. 40.00 Crore
- Shareholding in GIL
- Maitri holds 15.98% of GIL's equity
What was disclosed
Maitri Enterprises Limited has disclosed that it issued a Corporate Guarantee in favour of Bank of India for the credit facilities/term loan sanctioned, or to be sanctioned, to Gayatri Infrastructure Limited (GIL, the borrower).
Size of the guarantee
- The guarantee secures repayment of a principal amount not exceeding Rs. 40 crore (Rupees Forty Crore only)
- It also covers all interest, additional/penal interest, charges, liquidated damages, costs and expenses payable by GIL under the financing documents
- The company describes the guarantee as a contingent liability of up to Rs. 40.00 Crore, plus applicable interest, charges and costs
What the money is for
The credit facilities secured by the guarantee are to be used solely for financing the construction and development of the Maitri Elevate Scheme at Motera, Ahmedabad – 380005, which the company states is in line with GIL's principal business activities.
Related-party interest
- Maitri Enterprises is a shareholder of GIL, holding 15.98% of its equity share capital
- The company's promoters/directors — Mr. Rameshlal B. Ambwani, Mr. Deepak R. Ambwani, Mr. Jaikishan R. Ambwani and Mrs. Sarla Jaikishan Ambwani — are directors/promoters/shareholders of GIL and collectively hold 26.77% of its equity share capital
- The company states the transaction is conducted at arm's length on mutually agreed commercial terms
How to read a corporate guarantee
A corporate guarantee is a promise by the company to repay the borrower's dues to the lender if the borrower does not. It is not a payment made today; it is a contingent liability that can turn into an actual outflow only if GIL does not service its obligations. The company states there is no immediate cash outflow or adverse financial impact on its operations, subject to GIL duly servicing its obligations.
Also from Maitri Enterprises
Corporate guarantee issued to Bank of India for credit facilities of up to Rs. 40 crore
15 Oct 2026
More numbers
- Principal amount covered by the corporate guaranteeRs. 40,00,00,000/-
- Contingent liability for the companyRs. 40.00 Crore
- Maitri Enterprises' shareholding in GIL15.98%
- Promoters'/Directors' collective holding in GIL26.77%
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