SMT Engineering538563Admin disclosure update
Material subsidiary executes equitable mortgage with PNB for Rs. 6.24 crore credit facility
Sai Machine Tools Private Limited, a wholly owned material subsidiary of the company, has executed an Equitable Mortgage / Deposit of Title Deeds in favour of Punjab National Bank.
By ScoutQuest · · 2 min read
- Credit Facility Amount
- Rs. 6.24 Crores
- Facility Type
- ECLGS 5.0 Working Capital Term Loan
- Loan Term
- 5 year
What the update says
- The company disclosed that Sai Machine Tools Private Limited, a material subsidiary, has executed an Equitable Mortgage / Deposit of Title Deeds in favour of Punjab National Bank.
- The mortgage is in connection with credit facilities of Rs. 6.24 Crores.
- Type of facility: ECLGS 5.0 Working Capital Term Loan. Term of the loan: 5 year.
- Purpose stated in the update: to create/extend an Equitable Mortgage by Deposit of Title Deeds.
Who is involved
- Borrower: Sai Machine Tools Private Limited.
- Mortgagee / Lender: Punjab National Bank.
- Mortgagors: Ajay Jaiswal, Vishal Kumar Jaiswal, Vandana Jaiswal, Ashok Jaiswal and Sai Machine Tools Private Limited.
- Date of execution of the Equitable Mortgage / Deposit of Title Deed: 22.08.2026.
- The relationship is described as a wholly owned material subsidiary having common directors and promoters.
What an equitable mortgage means here
- The security is created by deposit of title deeds — the property title documents are placed with the lender as security for the loan.
- The update describes the security as an extension of an equitable mortgage created by deposit of title deeds under a declaration dated 31.07.2024, successively extended by declarations dated 04.12.2025 and 11.05.2026.
- The update states the transaction is done at arm's length basis.
How to read this
- This is a disclosure of a credit facility being secured, with the subsidiary's and the named individuals' property title deeds deposited with the bank.
- The size of the facility disclosed is Rs. 6.24 Crores, repayable over a stated term of 5 year.
- The parties listed as mortgagors include the subsidiary itself and four individuals with common directors and promoters.
Plain-language takeaway
- The subsidiary has taken a working capital term loan and secured it by depositing property title documents with the bank. The update gives the facility size, type, term and the parties involved, and notes that the arrangement is at arm's length.
More numbers
- Credit facilities secured by the equitable mortgageRs. 6.24 Crores
- Total loan amount (ECLGS 5.0 Working Capital Term Loan)6.24 Crores
- Term of loan5 year
Source: BSE · 22 Oct 2026
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