Pritika Auto Industries Limited - Reply to Clarification Sought

26 Aug 2022 , 12:00 AM

The Exchange had sought clarification from Pritika Auto Industries Limited with respect to announcement dated 24-08-2022 regarding giving of Corporate Guarantee for the revised credit facilities availed by Pritika Engineering Components Ltd., material subsidiary of the Company..On the basis of aforesaid disclosure, the Listed entity was required to clarify the following:Giving of guarantees or indemnity or becoming a surety for any third party1. Whether the promoter/ promoter group/ group companies have any interest in this transaction? If yes, nature of interest and details thereof and whether the same is done at ??arms length??;2. Brief details of such guarantee or indemnity or becoming a surety viz. brief details of agreement entered (if any) including significant terms and conditions, including amount of guarantee;3. Impact of such guarantees or indemnity or surety on listed entity.The response of the company is attached.