Glottis Ltd Board Approves ₹60 Cr Unsecured Interest-Free Loans from MDs

Glottis Limited's Board of Directors has approved availing unsecured, interest-free loans aggregating up to ₹60.00 Crores from its Managing Directors, Mr. Kuttappan Manikandan and Mr. Ramkumar Senthilvel. Each MD will provide up to ₹30.00 Crores. These funds will be utilized for the company's long-term and short-term working capital requirements and general business operations. The loans are unsecured, interest-free, and can be availed in tranches over a tenure of up to 5 years from each disbursement. This transaction is classified as a Related Party Transaction (RPT) and is stated to be at 'arm's length'.