Bhagiradha Chemicals & Industries Limited (BHAGCHEM) has announced the extension of a corporate guarantee amounting to ₹30 Crores on behalf of its wholly-owned subsidiary, Bheema Fine Chemicals Private Limited. This guarantee is in favor of ICICI Bank Limited and is intended to secure the credit limits sanctioned by the bank to the subsidiary. The disclosure, made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, clarifies that the promoter, promoter group, or group companies have no interest in this transaction. Bheema Fine Chemicals Private Limited is a wholly-owned subsidiary of Bhagiradha Chemicals, and the transaction is conducted on an arm's length basis. The corporate guarantee is towards a Rupee Term Loan of ₹30,00,00,000/- (Rupees Thirty Crore). The company stated that this guarantee will be shown as a contingent liability in its books. Apart from this, there is no other immediate impact of this guarantee on Bhagiradha Chemicals & Industries Limited as of the announcement date.
