Popular Vehicles and Services Limited (PVSL) has announced the extension of a corporate guarantee in favor of DBS Bank India Limited. This guarantee is for a Dealer Finance Facility amounting to ₹5,00,00,000 (Rupees Five Crores) and an overdraft facility of ₹10,000 (Rupees Ten Thousand) sanctioned to its subsidiary, Prabal Motors Private Limited.

The aggregate amount of the corporate guarantee stands at ₹5,00,10,000 (Rupees Five Crores Ten Thousand only).

Prabal Motors Private Limited is a subsidiary of Popular Vehicles and Services Limited. The announcement clarifies that none of the Promoters, Members of the Promoter Group, or Directors of PVSL have any interest in this transaction, and it has been conducted on an arm's length basis.

The company stated that the said guarantee, provided on behalf of its subsidiary, is part of the consolidated group. At this point, there is no impact on Popular Vehicles and Services Limited other than its disclosure in the Financial Statements.