Worth Peripherals Extends ₹1 Cr Guarantee for JV's Working Capital

Worth Peripherals Limited has announced the renewal of a working capital (Cash Credit) facility for its Joint Venture, M/s Yash Packers. The company is extending its Co-Obligancy (Guarantee) for an amount of ₹1,00,00,000/- (Rupees One Crore only) in favour of The Federal Bank. This facility for Yash Packers is for a period of 12 months with an interest rate of 8.30% p.a. and a 25% margin on stock and book debts. The guarantee represents a contingent liability for Worth Peripherals, but currently has no impact on the company as it is provided for the Joint Venture, which is part of the consolidated group.