S.P. Apparels Limited has announced the issuance of a corporate guarantee to The Hongkong and Shanghai Banking Corporation Limited for an amount of ₹12,51,33,300 (Rupees Twelve Crores Fifty One Lakhs Thirty-Three Thousand Three Hundred Only). This guarantee serves as security for a term loan facility availed by S.P. Apparels (UK) P Limited, a wholly-owned subsidiary of the Company. The disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. P. Sundararajan, Chairman & Managing Director of S.P. Apparels Limited, is also a director in S.P. Apparels (UK) P Limited, indicating a promoter/group company interest in this transaction. The company has stated that this guarantee will have no impact on the listed entity other than its disclosure in the financial statements as a contingent liability.
