Key Decision and Approval
- The Operations and Administration Committee of the Board of Directors approved providing surety/guarantee
- Meeting held on October 12, 2026 from 5:30 PM to 5:50 PM
- Approval granted to become surety/guarantor for Optiemus Electronics Limited (wholly owned subsidiary)
Quantitative Details
- Guarantee amount: ₹30 Crores (Rupees Thirty Crore Only)
- Beneficiary: Central Board of Indirect Taxes and Customs (CBIC/Custom Department)
Purpose and Rationale
The guarantee secures shipments of Optiemus Electronics Limited for:
- Hearable and Wearable devices
- Mobile Phones
- Telecom Products
- Mobile PCB etc.
To avail benefits of Import of Goods at Concessional Rate of Duty (IGCR) Scheme and ensure compliance with Custom Regulations.
Transaction Details
- Promoter/Promoter Group has no interest in this transaction
- Transaction is conducted on an arm's length basis
- The surety will secure obligations arising from subsidiary's shipments under the IGCR Scheme
Financial Impact
- Creates contingent liability for Optiemus Infracom Limited to the extent of ₹30 crore guarantee amount
- Impact subject to terms and conditions of the surety arrangement