Sical Logistics Limited — Others, 23-10-2024: Giving guarantees/indemnity/ becoming a surety for third party

Sical Logistics Limited’s board approved a corporate guarantee for its step-down subsidiary, Sical Multimodal and Rail Transport Limited (SMART), amounting to ₹75 crore for credit facilities from HDFC Bank. This guarantees a term loan of ₹45 crore and a working capital loan of ₹30 crore. The company states this will not materially affect its financial position, as SMART is expected to generate sufficient cash to meet its obligations.