The Board of Directors of the Max Healthcare Institute Limited had approved the issuance of a corporate guarantee to the bank/ financial institution for the loan proposed to be extended to Jaypee Healthcare Limited.
In this regard, Max Healthcare has issued a corporate guarantee of ₹1,000 Crore to Axis Bank Limited for securing a long-term loan to JHL, a wholly-owned subsidiary of Company.
The corporate guarantee will create an obligation in the form of contingent liability on the Company to pay Axis Bank Limited in case of default on the part of JHL to make the repayment.
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
