TCC Concept gives ₹30 Cr Guarantee for Subsidiary Pepperfry

TCC Concept Limited has provided a corporate guarantee of ₹30 crore to ICICI Bank Limited on behalf of its material subsidiary, Pepperfry Limited. This guarantee secures an overdraft facility of ₹30 crore, which includes a sub-limit for a Working Capital Demand Loan (WCDL) and a Bank Guarantee facility of ₹17.50 crore. The facilities are intended to support Pepperfry's working capital needs and permitted financial and performance guarantee requirements. The company has stated that the promoter/promoter group has no interest in this transaction, and it has been conducted on an arm's length basis. The corporate guarantee will be treated as a contingent liability for TCC Concept Limited.