Board Approves Corporate Guarantee Of Up To INR 9.90 Crore To Canara Bank For Ditya Agri Industry
Board approved a corporate guarantee of up to INR 9.90 Crore to Canara Bank, Gandhinagar, for credit facilities of Ditya Agri Industry (OPC) Pvt Ltd.
- Corporate Guarantee Amount
- up to INR 9.90 Crore
- Term Loan Component
- INR 5.00 Crore
- Working Capital Component
- INR 4.90 Crore
- Borrower
- Ditya Agri Industry (OPC) Private Limited
- Bank
- Canara Bank, Gandhinagar Branch
What was approved
The Board of Directors, at its meeting held on October 01, 2026, approved the issue of a corporate guarantee of up to INR 9.90 Crore in favour of Canara Bank, Gandhinagar Branch.
The guarantee covers credit facilities being availed by Ditya Agri Industry (OPC) Private Limited (the Borrower).
Break-up of the facilities
- Term Loan for acquisition of an industrial unit at Vijapur: up to INR 5.00 Crore
- Working Capital: up to INR 4.90 Crore
- Total: up to INR 9.90 Crore
The term loan relates to factory land and building along with plant and machinery at Survey Nos. 6010 and 6012, Bhavsor-Visnagar Link Road, Vijapur, Dist. Mehsana, Gujarat.
Relationship with the borrower
The company states that the promoter, promoter group and group companies have no interest in this transaction, and the Borrower is not a related party.
Mr. Nikunjbhai Mukeshbhai Choksi, the sole member and director of the Borrower, holds 35,200 equity shares of the company, about 0.42% of its total paid-up equity share capital as on date, and is not a promoter or director of the company.
What it means financially
A corporate guarantee means the company promises the bank it will repay if the borrower does not. The update describes it as a contingent liability with no impact on financials unless invoked. If invoked, the maximum liability is limited to INR 9.90 Crore.
The guarantee is stated to be within the limits prescribed under the Companies Act, 2013.
Status
The guarantee deed shall be executed upon sanction of the facilities by the Bank, on terms and conditions stipulated by the Bank. The Board meeting commenced at 01:30 P.M. and concluded at 02:15 P.M.
How investors may read it
Investors typically look at guarantees given to an unrelated third party in terms of the size of the potential exposure relative to the company's own balance sheet, since the obligation becomes real only if the borrower defaults.
More numbers
- Total corporate guaranteeINR 9.90 Crore
- Term loan for industrial unit acquisitionINR 5 Crore
- Working capital facilityINR 4.90 Crore
- Shares of company held by borrower's sole member/director35,200 equity shares
- His stake in paid-up equity capitalapproximately 0.42%
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