Crime Today News
Greaves Cotton Limited has announced the issuance of a corporate guarantee amounting to ₹40 crore in favour of Tata Capital Limited. This guarantee is intended to secure a term loan facility availed by Greaves Electric Mobility Limited (GEML), which is a material subsidiary of the company.
The term loan facility, secured through this guarantee, has a tenure of two years starting from the date of first disbursement. According to the company’s filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, the guarantee has been issued at arm’s length and there is no interest from the promoter or promoter group in the transaction.
Greaves Cotton clarified that there is no immediate impact on the company from this arrangement, other than the extent of the guarantee amount, which would become relevant if GEML is unable to meet its repayment commitments. The corporate guarantee has been disclosed as a contingent liability.
Greaves Cotton Limited is a diversified engineering company and has evolved from its origins in manufacturing diesel engines to becoming a multi-product conglomerate spanning several sectors.
Today, Greaves operates across multiple segments including engineering, e-mobility, retail, finance, and technologies.
In recent years, Greaves has strategically pivoted toward sustainable mobility solutions, expanding its footprint in the electric vehicle segment. This transformation reflects the company’s adaptation to changing market demands and environmental considerations.
This article first appeared on Autocar
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