Ravindra Energy provides corporate guarantee for associate's lease facility

Ravindra Energy Limited (REL) has announced providing a corporate guarantee to Muon India Private Limited (MIPL) to secure payment obligations for an operating lease facility. This facility, involving electric truck batteries, is granted by MIPL to Energy In Motion Limited (EIM), an associate entity of REL where REL holds a 49.54% stake. The lease facility has an aggregate value of up to ₹41 crore. Mr. Narendra Murkumbi, a promoter of REL, is a common director in both REL and EIM, making him an interested director. The guarantee is extended on an arm's length basis and is considered to be in the overall interest of REL, aiding EIM's business expansion. As a non-fund based contingent liability, it has no immediate financial impact on REL.