Board committee approves becoming surety for wholly owned subsidiary, bond up to Rs. 30 Crores with CBIC

Optiemus Infracom's Operations and Administration Committee approved becoming a surety/guarantor for its wholly owned subsidiary Optiemus Electronics Ltd.

Mon 12 Oct 2026

Bond / Surety Amount

not exceeding Rs. 30 Crores

Bond Beneficiary

Central Board of Indirect Taxes and Customs

Purpose

secure the subsidiary's shipments of hearables, wearables, mobile phones, telecom products & mobile PCB under the IGCR Scheme

What was approved

The Operations and Administration Committee of the Board of Directors, at its meeting on 12th October, 2026, accorded its approval for the company to become a surety/guarantor and to provide or execute a Bond in favour of the Central Board of Indirect Taxes and Customs (CBIC / Custom Department).

• The bond is for an amount not exceeding Rs. 30 Crores (Rupees Thirty Crore Only).
• The approval is to become a surety or guarantor and to provide or execute the bond.

Who this is for

The surety is on behalf of Optiemus Electronics Limited, described as a wholly owned subsidiary of the company.

• It covers the subsidiary's shipments for Hearable and Wearable devices, Mobile Phones, Telecom Products & Mobile PCB etc.
• The stated purpose is to avail the benefits of the Import of Goods at Concessional Rate of Duty (IGCR) Scheme.
• The update says it is to ensure compliance with custom regulations.

What it means, in simple terms

When a company becomes a surety, it is standing behind someone else's obligation. Here, the company is backing its wholly owned subsidiary's obligations to the customs department.

• The update states the company may have a contingent liability to the extent of the amount of surety provided, subject to the terms and conditions thereof.
• A contingent liability is a possible obligation. It is not a cost incurred today; it would arise only if the related obligation is not met as required.
• The figure of Rs. 30 Crores is a cap, described as "not exceeding".

Related party position

• The Promoter / Promoter Group does not have interest in this transaction.
• The Surety will be provided by the Company on an arm's length basis.

Meeting details

The meeting of the Operations and Administration Committee of the Board commenced at 05:30 P.M. and concluded at 05:50 P.M.

What investors can take away

• This is a surety arrangement for a wholly owned subsidiary, tied to a duty-concession scheme for its shipments.
• The company itself flags a possible contingent liability up to the surety amount, which is a cap rather than a fixed outflow.
• The bond is in favour of the customs authority and relates to the subsidiary's imports under the IGCR Scheme.

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