Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Kanoria Chemicals & Industries has informed that the Board of Directors of the Company in its meeting held on 20th May, 2021, has approved extending the corporate guarantee against the restructured loans of its wholly owned subsidiary company, Kanoria Africa Textiles PLC, Ethiopia (‘KATP’) in favour of Export Import Bank of India (‘Exim Bank’). The Board has also approved to extend pledge of its entire shareholding in KATP as security for restructuring of Loan by Exim Bank. It has informed that the original loan sanctioned by Exim Bank was also secured by Corporate Guarantee and Pledge of KATP shares and therefore the currently approved arrangement substitutes the existing security and there have been no changes to the same.
The above information is a part of company’s filings submitted to BSE.
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