JSW Energy's subsidiary, JSW Energy (Barmer) Ltd, will provide a corporate guarantee for a Rs 954 crore loan to Barmer Lignite Mining Company, a joint venture with Rajasthan State Mines & Minerals Ltd.
Photograph: Steve Marcus/Reuters
New Delhi, Dec 20 (PTI) 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.
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