Udaipur Cement Works Limited given Corporate Guarantees aggregating to INR 16,400 million (outstanding INR 10,990 million) infavour of Debenture Trustee (for the NCDs issued by UCWL) & in favour of various Term Lenders (i. e. Axis Bank Ltd., State Bank of India, Indian Bank and HDFC Bank Ltd.) who havegranted Term Loansto UCWL. These Guarantees are valid upto the full repayment of various Term Loans of the Term Lenders /redemption of the NCDs, as the case may be.