Board approves proposed material related party transactions for guarantees and credit support
Team India Guaranty's board met on 21st October, 2026 and approved proposed material related party transactions.
By ScoutQuest · · 1 min read
- Board meeting date
- 21st October, 2026
- Counterparties
- Team India Managers Limited and Mr. Surajkumar Saraogi
- Borrowing limit approved at
- 36th AGM held on 21st September, 2026
Board outcome: what was approved
The board of directors met on 21st October, 2026 and, based on the recommendation of the audit committee, considered and approved proposed material related party transactions with two parties:
- Team India Managers Limited
- Mr. Surajkumar Saraogi
What the company will avail
- Corporate guarantee(s) from one party and personal guarantee(s) from the other, along with security and/or other credit support.
- These are in connection with the borrowings and credit facilities of the company.
- The transactions are within the overall borrowing limit that members approved at the 36th Annual General Meeting held on 21st September, 2026.
Why members are being asked to vote
- Such transactions, being material related party transactions, need the prior approval of members.
- The board approved the draft Postal Ballot Notice together with the Explanatory Statement for seeking that approval through remote e-voting.
- The Postal Ballot Notice, the remote e-voting schedule and other details will be intimated to the stock exchanges separately.
What this means in simple terms
- A guarantee or credit support given by a related party is a backstop for the lender: it can be called upon if the company does not meet its obligations under the borrowing.
- Because the parties providing this support are related to the company, the law requires shareholders to approve the arrangement rather than leaving it to the board alone.
- The approval is proposed and subject to members' approval through postal ballot; the resolution is still to be placed before shareholders.
Meeting timing
The board meeting commenced at 04:28 P.M. and concluded at 04:42 P.M. on 21st October, 2026.
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