Issuance of Corporate Gurantee to NRB-IBC Bearings Private Limited and NIBL-Korta Engineering Private Limited, associate Companies of NRB Industrial Bearings Limited pursuant to Section ....
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NRB Industrial Bearings Limited has issued corporate guarantees totaling Rs. 13 crore for credit facilities extended to two associate companies. KORTA Engineering received a guarantee for Rs. 5 crore facility, while NRB-IBC Bearings received one for Rs. 8 crore facility. The company's board approved these guarantees on May 28, 2026. Some promoters, promoter group members, and directors have interests in these associates through common shareholding and directorships, which the company states is on an arm's length basis.
Shareholders should note this represents a contingent liability exposure of Rs. 13 crore on NRB Industrial's books, though the company currently states there is no impact. The related party nature with promoter interests warrants monitoring for any future impact on financials.