Investment11 Mar 2026, 02:51 pm
GG Automotive Gears Ltd Receives Unsecured Loan of ₹10 Crores from Chairman & Managing Director
AI Summary
GG Automotive Gears Ltd has announced that the Board of Directors has approved the acceptance of an unsecured loan from Mr. Kennedy Ramchand Gajra, Chairman & Managing Director (Promoter) of the Company. The loan, amounting to ₹10 Crores, will be infused in one or more tranches on an interest-free basis. The funds will be used for ongoing capital expenditure, meeting working capital requirements, and strengthening the Company’s overall liquidity position. The Company also provided an integrated business and operational update, including the status of the fire incident and insurance claim, promoter commitment, and capacity restoration efforts.
Key Highlights
- GG Automotive Gears Ltd secures ₹10 Crores unsecured loan from Chairman & Managing Director.
- The loan will be used for ongoing capital expenditure, working capital requirements, and improving liquidity position.
- Company maintains a strong market position with an executable order book of approximately ₹90 Crores.
- Fire incident insurance claim process is underway, with the Company working closely with surveyors and insurers.
- Promoter's ₹10 Crores infusion demonstrates confidence in the Company's long-term resilience and growth prospects.