Approval Details
The Borrowing and Investment Committee of the Board of Directors approved the corporate guarantee at its meeting held on September 17, 2026. The approval is for an amount not exceeding ₹50,00,00,000 (Indian Rupees Fifty Crore only) in favour of ICICI Bank Limited.
Guarantee Purpose
The corporate guarantee will secure credit facilities to be availed by Jain CY Circular Solutions Private Limited, a subsidiary company of Jain Resource Recycling Limited.
Transaction Context
This represents the second tranche within the overall limit of ₹200,00,00,000 (Indian Rupees Two Hundred Crore only) previously approved by the Audit Committee of the Company at its meeting held on July 13, 2026.
Annexure A Details
Party Details
- Name of party: Jain CY Circular Solutions Private Limited (Jain CY)
Promoter/Group Interest
- No interest from promoter/promoter group/group companies in this transaction
- Promoter/promoter group/group companies do not hold any shares in the subsidiary company
- Transaction is at arm's length and within approved limits
Guarantee Specifications
- Type: Corporate guarantee
- Amount: Up to ₹50 Crore
- Beneficiary: ICICI Bank Limited
- Purpose: Working capital and other short-term facilities of Jain CY
- Tranche: Second tranche (first tranche of ₹50 Crore issued on July 13, 2026)
- Total guarantees for Jain CY including this tranche: ₹100 Crore
Financial Impact
- Treatment: Contingent liability in the books of account of the Company
- Cash flow: No immediate cash outflow from the Company on account of guarantee issuance