Action Approved: Providing additional corporate guarantee of ₹34 crore and pledging additional shareholding in ZAP91 Solar India Private Limited
Beneficiary Party: CTL Trusteeship Limited
Purpose: In connection with Non-Convertible Debentures issued by ZAP91 Solar India Private Limited to CTL Trusteeship Limited
Entity Relationship: ZAP91 Solar India Private Limited is identified as a Joint Venture of Pennar Industries Limited
Ownership and Interest Disclosure
Promoter/promoter group/group companies have no interest in this transaction
The transaction is conducted at arm's length basis
Financial Impact Assessment
Immediate Impact: No immediate impact on the company
Contingent Liability: The corporate guarantee constitutes a contingent liability for Pennar Industries Limited
Trigger Condition: Liability would materialize only if ZAP91 Solar India Private Limited is unable to meet its repayment obligations to CTL Trusteeship Limited
Exposure Limit: The exposure is limited to the amount of corporate guarantee (₹34 crore)
