Global Defence Industries Limited Issues Corporate Guarantee for Subsidiary
Global Defence Industries Limited, formerly known as Nibe Ordnance and Maritime Limited, announced on March 26, 2026, that its Board of Directors approved the issuance of a corporate guarantee. The guarantee, issued in favor of Cosmos Co-op. Bank Limited, secures credit facilities of 230 Crores for Globe Forge Limited, a subsidiary of the company in which Global Defence Industries Limited holds 66.10% of the paid-up equity share capital.The corporate guarantee will be in effect for a period of 96 months, commencing from the date of the first disbursement. According to the company, the guarantee will be issued on an arm’s length basis. Promoters Mr. Ganesh...