Worth Peripherals extends ₹1 Cr guarantee for Joint Venture's loan

Worth Peripherals Limited has announced the extension of a co-obligancy (guarantee) for its Joint Venture, M/s Yash Packers. This guarantee is for a working capital (Cash Credit) facility of ₹1,00,00,000/- (Rupees One Crore only) with Federal Bank. The facility is for a period of 12 months, with an interest rate of 8.30% per annum and a 25% margin on stock and book debts. The company stated that this guarantee represents a contingent liability and is part of the consolidated group's operations. The transaction is considered to be at arm's length, with no direct interest from promoters or their group members.