Autoline Industries Limited announced that the Company vide its previous Outcome of Board Meeting held on June 01, 2023 had informed to the stakeholders that to cater with the automobile parts to Tata Motors the Board of Directors of the Company had approved the setting up of a new plant (unit) on the leased hold plot (to be allotted by Gujarat Industrial Corporation) at Sanand, Gujrat to expand the business and retain the existing business with OEM. In continuation of the said outcome, the company further informs that for setting up of the said manufacturing unit at Sanand and to set up Tooling for the said plant the Company has entered into the Facility Agreements on July 15, 2023 for availing Term Loan Facilities amounting to INR 420 million and INR 245 million respectively for the above said set up from Tata Motors Finance Solutions Limited (the Lender) at 4.30 p.m. Details of the security provided ­the Company has provided the following securities to the Lender: 1st pari-passu charge on Chakan II plant of the Company; 1st charge on Land & Building, Plant & Machinery of Sanand Unit of the Company and Personal Guarantee of Mr. Shivaji Akhade, Managing Director & CEO of the Company.