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PVSL Extends ₹15 Crore Corporate Guarantee for Subsidiary Prabal Motors
Popular Vehicles and Services Limited (PVSL) has informed the exchanges that it is continuing to extend a corporate guarantee worth ₹15 crore in favor of HDFC Bank. This guarantee is provided on behalf of its subsidiary, Prabal Motors Private Limited, to facilitate Commercial Vehicle Inventory Funding. The transaction is conducted on an arm's length basis and is a standard procedure to support the subsidiary's operational requirements. While it creates a contingent liability, there is no immediate impact on the company's financial performance.
Key Highlights
Corporate guarantee of ₹15,00,00,000 (₹15 Crores) extended to HDFC Bank.
Guarantee supports Commercial Vehicle Inventory Funding for subsidiary Prabal Motors Private Limited.
Transaction is confirmed to be at arm's length with no promoter group interest.
The guarantee is part of the consolidated group's financial management strategy.
💼 Action for Investors
Investors should view this as a routine financial support measure for a subsidiary; no immediate action is required. Monitor the subsidiary's performance to ensure the guarantee does not translate into a realized liability.