Jindal Worldwide grants ₹6.89 Cr Corporate Guarantee for subsidiary Planet Spinning Mills
Jindal Worldwide Limited has approved a Corporate Guarantee of ₹6.89 Crore for its wholly-owned subsidiary, Planet Spinning Mills Private Limited. This guarantee is for credit facilities to purchase machinery and will be treated as a contingent liability.
The guarantee represents a contingent liability for Jindal Worldwide. While not an immediate financial outflow, it signifies a financial commitment that could become an actual liability if the subsidiary defaults, thus having a medium-term impact on the company's financial risk profile.
The company is providing a guarantee for its subsidiary, which is a standard financial arrangement. While it involves a financial commitment, it's for a subsidiary's operational need and is treated as a contingent liability, thus not immediately impacting financials positively or negatively.
Jindal Worldwide Limited has announced that its Board of Directors, in a meeting held on Thursday, November 13, 2025, approved the granting of a Corporate Guarantee.
This guarantee is for credit facilities availed by M/s. Planet Spinning Mills Private Limited, a wholly-owned subsidiary of Jindal Worldwide Limited, to purchase machinery. The company executed the Corporate Guarantee on December 11, 2025, at 3:00 PM.
The corporate guarantee of ₹6.89 Crore will be issued in favor of M/s. Small Industries Development Bank of India (SIDBI) for the credit facility extended to Planet Spinning Mills Private Limited. SIDBI is neither a related party nor part of the promoter group. The transaction is conducted at an arm's length.
This corporate guarantee will be treated as a contingent liability in the books of accounts of Jindal Worldwide Limited.
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