Popular Vehicles Provides ₹3 Crore Corporate Guarantee for Wholly Owned Subsidiary
Popular Vehicles and Services Limited (PVSL) has announced that it will continue to provide a corporate guarantee in favor of Kotak Mahindra Bank Limited. This guarantee is for credit facilities amoun...
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Why is Popular Vehicles and Services Limited in the news today?
Popular Vehicles and Services Limited (PVSL) is in the news due to the company is providing a corporate guarantee for its subsidiary's credit facilities. while this is a financial commitment, it is a standard practice for supporting subsidiaries and is disclosed as having no immediate financial impact on the parent company beyond reporting.
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Popular Vehicles Provides ₹3 Crore Corporate Guarantee for Wholly Owned Subsidiary
December 19, 2025, 07:42 AM
Popular Vehicles and Services Limited (PVSL) has announced that it will continue to provide a corporate guarantee in favor of Kotak Mahindra Bank Limited. This guarantee is for credit facilities amounting to ₹3,00,00,000 (Rupees Three Crores only) sanctioned to Kuttukaran Cars Private Limited, which is a wholly-owned subsidiary of PVSL.
The company has confirmed that Kuttukaran Cars Private Limited is a wholly-owned subsidiary and that none of the Promoters, Members of the Promoter Group, or Directors of PVSL have any interest in this transaction. The transaction is being conducted on an arm's length basis.
The guarantee is related to the credit facilities provided by Kotak Mahindra Bank to the subsidiary. PVSL has stated that this guarantee is provided on behalf of the subsidiary, which is part of the consolidated group. Currently, there is no impact on PVSL other than the disclosure of this guarantee in the financial statements.
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