Ircon International (IRCON) had furnished a Corporate Guarantee
to SBICAP Trustee Company for providing the Term Loan of Rs.501 Crore by State Bank of India to Ircon Shivpuri Guna Tollway (IrconSGTL), a Special Purpose Vehicle (SPV) & a wholly owned subsidiary of IRCON.
The Corporate Guarantee is valid till the tenure of the Loan. The Corporate Guarantee is furnished by IRCON at arm's length basis and its promoters have no interest in the transaction directly. The purpose of availing loan by IrconSGTL is to repay the existing loan of IRCON.
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