Nitta Gelatin India Ltd gives corporate guarantee against borrowing of subsidiary

Nitta Gelatin India Ltd has announced about the Corporate Guarantee(CG) executed this day with respect to a Margin Money Loan arranged by Reva Proteins Ltd, a material subsidiary Company.

The decision to extend the guarantee, under Section 179(3) (f) of the Companies Act, 2013, was taken at the Board Meeting dated February 01, 2016.

After negotiation and finalisation, Reva Proteins Ltd arranged the Loan amounting to Rs.300 lacs, against which the CG is this day executed by Nitta Gelatin India Ltd as holding Company favouring Kerala State Industrial Development Corporation (KSIDC).

Shares of NITTA GELATIN INDIA LTD. was last trading in BSE at Rs.219.7 as compared to the previous close of Rs. 218.6. The total number of shares traded during the day was 5716 in over 76 trades.

The stock hit an intraday high of Rs. 223 and intraday low of 216. The net turnover during the day was Rs. 1249074.

Source : Equity Bulls

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