Ironwood Education Limited has announced a board meeting during which it approved unsecured loans up to Rs. 2 crores each to its wholly owned subsidiaries, Trio Infrastructure Private Limited and EMDI (Overseas) FZ LLC.

Both loans are for working capital and general corporate purposes, carry interest rates of 7.5% and 1.5% respectively, and have a tenure of three years with possible extension.

Trio Infrastructure currently has no outstanding loan, while EMDI (Overseas) has an outstanding amount of Rs. 3.32 lakhs.

These transactions are related party loans conducted at arm’s length.