We would like to inform all our stakeholders that the Company has given a Corporate Guarantee in favour Yes Bank Limited, to secure various fund based and non-fund-based facilities availed/to ....
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Media Matrix Worldwide Ltd has issued a Corporate Guarantee of up to Rs. 70 Crores in favour of Yes Bank Limited to secure fund-based and non-fund-based credit facilities being availed by its subsidiary, nexG Devices Private Limited. The guarantee covers both existing and future borrowings by nexG from Yes Bank. The transaction is stated to be at arm's length, with nexG being a related party only to the extent of the parent company's shareholding. The guarantee will be shown as a contingent liability in Media Matrix's financial statements.
This adds Rs. 70 crore of potential contingent liability for Media Matrix Worldwide — if nexG fails to repay Yes Bank, the parent company would have to honor the guarantee. For shareholders, it signals the parent is financially backing its subsidiary's growth funding but also increases overall group-level exposure.