the following mentioned resolutions have been passed by the Board in its Meeting held today 22nd April, 2025. 1. Approved the proposal to issue "Corporate Guarantee" on behalf of an entity ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.9 pts less than Nifty Microcap 250 and 2.5 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
The board of Garware Marine Industries, at its meeting on 22 April 2025, approved issuing a Corporate Guarantee on behalf of Global Offshore Services Limited, an entity sharing common directors and promoters with the company. The guarantee is to support a loan that Global Offshore Services plans to raise, though the loan amount has not been disclosed in the filing. The board has classified this as a Material Related Party Transaction, approved it via the Audit Committee, and recommended it for shareholder approval under Sections 185, 186, and 188 of the Companies Act, 2013. An Extra Ordinary General Meeting has been scheduled for 16 May 2025 to seek members' approval for this guarantee and related party transaction.
This is a contingent liability for Garware Marine — if Global Offshore Services defaults on its loan, the company will be liable to repay. Shareholders should review the EGM notice carefully, as the loan amount and risk exposure are not yet disclosed in this filing.