Nibe Ordnance and Maritime Ltd Approves Corporate Guarantee Issuance for Subsidiary Globe Forge Limited

In a Board Meeting held on March 26, 2026, Nibe Ordnance and Maritime Ltd, now known as Global Defence Industries Limited, approved the issuance of a Corporate Guarantee in favor of Cosmos Co-op. Bank Limited. This guarantee is to secure credit facilities of Rs. 230 Crores (Rupees Two Hundred and Thirty Crores Only) for Globe Forge Limited, a subsidiary of the Company. The promoters, Mr. Ganesh Ramesh Nibe, Mrs. Manjusha Ganesh Nibe and Mr. Bhagesh Ganesh Nibe, are interested in the transaction only to the extent of their shareholding in Globe Forge Limited. The guarantee is issued at an arm's length basis and will not have any immediate impact on the Company other than a disclosure in the Financial Statements.