Karachi, Cordoba Logistics & Ventures Limited informed Pakistan Stock Exchange that the Board of Directors of the Company has approved be and is hereby authorized to borrow a total amount of up to PKR 200,000,000/- with a markup at the rate of 3 month KIBOR + 2% as a Loan from its Director, Mr. Danish Elahi and to this end, enter into a Loan Agreement with Mr. Danish Elahi for the said Loan which shall be an unsecured subordinated director loan to meet the Company's business operations and working capital requirements and shall be disbursed in one or more trenches as may be agreed with Mr. Danish Elahi for a tenor of 2 years or as otherwise extended by way of an Addendum to the Loan Agreement and shall be repaid with effect from July 2024 or as otherwise extended by way of an Addendum to the Loan Agreement.
Cordoba Logistics & Ventures Limited, formerly Mian Textile Industries Limited, was incorporated in Pakistan on December 01, 1986 as a Public Limited Company under the Companies Ordinance, 1984. The company was principally engaged in the business of manufacturing, sale and export of textile products.