Corporate guarantee issued to Bank of India for credit facilities of up to Rs. 40 crore
Maitri Enterprises has issued a corporate guarantee in favour of Bank of India for credit facilities or term loan to Gayatri Infrastructure Ltd, up to a principal of Rs. 40 crore, plus interest and costs.
By ScoutQuest · · 2 min read
- Guarantee principal amount
- not exceeding Rs. 40 crore
- Contingent liability
- Rs. 40.00 Crore, plus applicable interest, charges and costs
- Stake held in borrower
- 15.98% of its equity share capital
What the company disclosed
Maitri Enterprises Limited has informed the exchanges that it has issued a corporate guarantee in favour of Bank of India for Gayatri Infrastructure Limited, referred to in the update as the Borrower. The guarantee is for securing the due repayment and discharge of credit facilities or a term loan sanctioned, or to be sanctioned, to Gayatri Infrastructure Limited.
Size and scope of the guarantee
- The guarantee covers a principal amount not exceeding Rs. 40 crore (Rupees Forty Crore only).
- Beyond principal, it also covers all interest, additional or penal interest, charges, liquidated damages, costs and expenses payable by the borrower under the relevant financing documents.
How the company describes the impact
The update states that the corporate guarantee represents a contingent liability for the company up to Rs. 40.00 Crore, plus applicable interest, charges and costs. It adds that there is no immediate cash outflow or adverse financial impact on the operations of the company, subject to Gayatri Infrastructure Limited duly servicing its obligations.
Relationship between the two companies
- Maitri Enterprises Limited is a shareholder of Gayatri Infrastructure Limited, holding 15.98% of its equity share capital.
- Promoters and directors of the company — Mr. Rameshlal B. Ambwani, Mr. Deepak R. Ambwani, Mr. Jaikishan R. Ambwani and Mrs. Sarla Jaikishan Ambwani — are directors, promoters or shareholders of Gayatri Infrastructure Limited and collectively hold 26.77% of its equity share capital.
- The update states the transaction is conducted at arm's length on mutually agreed commercial terms.
Where the credit facility is meant to be used
The facilities secured by the guarantee are to be utilised solely for financing the construction and development of the Maitri Elevate Scheme situated at Motera, Ahmedabad – 380005, which the update says is in line with the borrower's principal business activities.
What investors may keep in mind
A corporate guarantee is a promise to pay if the borrower does not. It stays a contingent liability — an obligation that arises only on a default — until then. The company's own disclosure is that there is no immediate cash outflow, and that this holds subject to the borrower servicing its obligations.
Also from Maitri Enterprises
Corporate Guarantee issued in favour of Bank of India for Rs. 40 Crore credit facilities to Gayatri Infrastructure
15 Oct 2026
More numbers
- Principal amount covered by the corporate guaranteeRs. 40,00,00,000
- Contingent liability stated by the companyRs. 40.00 Crore
- Maitri Enterprises' holding in Gayatri Infrastructure Ltd15.98%
- Promoters'/directors' collective holding in Gayatri Infrastructure Ltd26.77%
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