We would like to inform all our stakeholders that the Company has today given a Corporate Guarantee in favour of IndusInd Bank Limited, to secure various fund based and non-fund-based facilities ....
MMWL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Media Matrix Worldwide Ltd has issued a corporate guarantee of Rs. 25 crore in favour of IndusInd Bank Limited to secure fund-based and non-fund-based facilities for its subsidiary nexG Devices Private Limited. The company holds 56.78% of nexG's paid-up share capital. NexG is a PAN-India distribution and logistics company specializing in sales and distribution of mobility and IT products across retail chains. The transaction has been confirmed as being at arm's length and will be disclosed as a contingent liability in the company's financial statements.
The guarantee increases Media Matrix Worldwide's contingent liability exposure of Rs. 25 crore, which could affect the company's balance sheet if the subsidiary defaults on its bank facilities.