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Suraj Industries Ltd has announced a new unsecured inter-corporate loan agreement of Rs. 20 Crore with its material subsidiary, Carya Chemicals and Fertilizers Pvt Ltd, to support Carya’s distillery project. The loan carries an interest rate of 9.85% p.a. and a tenure of up to three years, extendable by mutual consent. The loan is convertible into equity at any time during the tenure. Suraj Industries holds an 85.75% stake in Carya, and the transaction is conducted at arm’s length. No security has been provided against this loan.