 "JSW Energy arm to provide bank guarantee for availing loan of Rs 954 cr")
JSW Energy on Wednesday said one of its wholly-owned subsidiaries, JSW Energy (Barmer) Ltd, will provide a corporate guarantee on behalf of Barmer Lignite Mining Company Ltd for availing a loan of up to Rs 954 crore.
Barmer Lignite Mining Company is a joint venture of JSW Energy (Barmer) Ltd and Rajasthan State Mines & Minerals Ltd. The JSW Energy arm holds 51 per cent stake in the JV.
JSW Energy (Barmer) Ltd (JSWEBL), which is a promoter of Barmer Lignite Mining Company, has issued a promoter undertaking to Bank of Baroda, which will provide the loan, an exchange filing said.
"JSWEBL will also be providing a corporate guarantee in favour of the bank in connection with the above loan," the filing said.
The corporate guarantee shall be a contingent liability for JSWEBL, which is a wholly-owned material subsidiary of the company, it said.
At this point, there is no impact of the said promoter undertaking and the corporate guarantee on the company, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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