Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 for providing Corporate Guarantee
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Ironwood Education Limited's Board of Directors approved providing a corporate guarantee of up to Rs. 40 crore to State Bank of India, Borivali West Branch. The guarantee is for securing a Builder Finance Term Loan availed by Trio Infrastructure Private Limited (TIPL), a wholly-owned subsidiary of the company. The transaction is stated to be at arm's length, and the promoter/promoter group have no direct interest in it. The company clarified that the guarantee will be recorded as a contingent liability and is not expected to adversely affect its business operations or going concern status. The board meeting was held on May 15, 2026 and lasted one hour.
This guarantee creates a contingent liability of up to Rs. 40 crore on Ironwood Education's books. If the subsidiary defaults, the parent company could be called upon to repay, which could materially impact its financial position.