Board approves guarantee for Rs 180 crore CBG plant loan

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AI summary

The board approved a guarantee equal to 51% of project cost for a Rs 180 crore NABARD term loan to subsidiary Trualt Gas Private Limited. The loan will fund three compressed biogas plants of 20 tonnes per day each. The company will pledge 51% of its subsidiary shares and invest up to Rs 20 crore at Rs 24 per share. It also removed the company secretary and compliance officer.

Likely market impact

Funding advances the CBG project, but the guarantee could expose shareholders to losses if the subsidiary cannot repay the NABARD loan.