Gravita India Approves ₹100 Cr Corporate Guarantee for Subsidiary

Gravita India Ltd's Finance Committee has approved a corporate guarantee of up to ₹100 Crores for its material subsidiary, Rashtriya Metal Industries Limited (RMIL). This guarantee is in favor of lenders for credit facilities up to ₹600 Crores availed or to be availed by RMIL. The transaction involves a promoter and CMD, Mr. Rajat Agrawal, and his daughter, Ms. Karvi Agrawal, who is the MD of RMIL. The company states the guarantee is at arm's length and constitutes a contingent liability, with no immediate impact unless RMIL defaults on its obligations.