Fusion CX Limited has entered into a loan agreement to provide up to USD 2,300,000 (approximately ₹18.3 crore) as an unsecured inter-corporate term loan to its wholly-owned UK subsidiary, Fusion BPO Services Ltd. The loan carries an interest rate of 8.5% per annum and has a tenure of 3 years. This transaction is deemed to be at an arm’s length basis.
Inter-Corporate Loan Agreement
Fusion CX Limited announced today that it has entered into a loan agreement with its UK-based wholly-owned subsidiary, Fusion BPO Services Ltd. This agreement provides for an inter-corporate term loan facility.
Loan Details
- Lender: Fusion CX Limited
- Borrower: Fusion BPO Services Ltd (UK based WOS)
- Nature of Loan: Unsecured Inter Corporate Term Loan
- Loan Amount: Up to USD 2,300,000 (US Dollars Two Million Three Hundred Thousand Only). This is approximately ₹18.3 crore based on the stated exchange rate.
- Interest Rate: 8.5% p.a.
- Tenure: 3 (three) years from the date of disbursal.
- Purpose: To meet inter corporate business requirements.
- Security: Unsecured loan.
- Outstanding Amount: Nil, as on the date of disclosure.
Related Parties and Arm’s Length
Fusion BPO Services Ltd is a wholly-owned subsidiary (WOS) of Fusion CX Limited. The company holds 100% stake in the borrower. Common directors sit on the boards of both entities, including Mr. Pankaj Dhanuka (Chairman and Managing Director, CEO) and Mr. Kishore Saraogi (Managing Director and COO). The transaction has been confirmed to be at an arm’s length basis.
Source: BSE
