Zuari Global has entered into a facility agreement with Axis Finance to avail loan facility and an overdraft facility not exceeding Rs 85 crore and an overdraft facility up to an amount not exceeding Rs 5 crore.
The said facility will be utilized for distillery project of 'Gobind Sugar Mills’, through Zuari Investments, wholly owned subsidiary of the company. The said facility is secured by first charge by way of mortgage over land, Hypothecation and escrow of the dividend receivables by the company and Non-disposal undertaking (NDU) for equity investments held by the company in Zuari Agro Chemical and Chambal Fertilizers & Chemicals.
Zuari Global, erstwhile Zuari Industries, has been the principal promoter entity for the Zuari Group of Companies, with forays into fertilizer, seeds, engineering, lifestyle industries and services.
