Corporate Guarantee/Security Provided For Financial Assistance Facility Availed By Energy In Motion Private Limited An Associate Entity Of Ravindra Energy Limited.
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Ravindra Energy Limited has provided a corporate guarantee and security of ₹145 crore to ICICI Bank Limited on behalf of its associate company, Energy In Motion Private Limited, for a financial assistance facility availed by that associate. The guarantee covers the full loan amount taken by Energy In Motion from ICICI Bank. The move was approved by the Board on May 27, 2025 and by shareholders at an Extraordinary General Meeting on June 20, 2025. Promoter Mr. Narendra Murkumbi is a common director in both Ravindra Energy and Energy In Motion, and the transaction has been confirmed as being done at arm's length. The company says the guarantee will help its associate obtain credit at competitive terms and grow its business.
This does not change Ravindra Energy's own borrowings, but it exposes the company to a contingent liability of up to ₹145 crore if the associate entity defaults. If Energy In Motion performs well, it could benefit group-level growth; if it struggles, shareholders of Ravindra Energy bear the downside risk.