Popular Vehicles Provides Guarantee to Subsidiary's INR30 Million Credit Facility

MT Newswires Live12-19

Popular Vehicles and Services (NSE:PVSL, BOM:544144) has extended a corporate guarantee to its wholly-owned subsidiary Kuttukaran Cars for credit facilities of 30 million Indian rupees, according to a Friday filing to the Indian stock exchanges.

The corporate guarantee has been given in favor of Kotak Mahindra Bank (NSE:KOTAKBANK, BOM:500247) in relation to the credit facilities of 30 million rupees sanctioned to Kuttukaran Cars.

At present, there is no financial impact of the corporate guarantee on the company.

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