Board Meeting Outcome for giving Corporate Guarantee
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The Board of Directors of Retina Paints Limited, at its meeting on November 15, 2025, approved a corporate guarantee of up to Rs. 6.00 crore in favour of Union Bank of India. The guarantee has been provided as collateral to secure cash credit facilities sanctioned to Retina Retail Limited, a group company. The guarantee is on demand and renewable annually. The transaction is on an arm's length basis, and promoters/promoter group have no interest in it. The guarantee will be shown as a contingent liability in the company's standalone financial statements.
Shareholders should note that Retina Paints is taking on a contingent liability of up to Rs. 6 crore to support a group company's borrowings. If Retina Retail Limited defaults on its cash credit obligations, Retina Paints would be liable to pay, which could affect the company's finances.