IIRM Holdings India Ltd. Board Approves Corporate Guarantee, Asset Sale Proposal
IIRM Holdings India Limited (formerly Sudev Industries Limited) announced on March 28, 2026, that its Board of Directors approved a corporate guarantee for a material wholly-owned subsidiary, India Insure Risk Management and Insurance Broking Services Private Limited. The board meeting commenced at 6:00 p.m. and concluded at 6:15 p.m.The corporate guarantee, amounting to Rs. 65 crores, serves as security for the issuance of Non-Convertible Debentures (NCDs) by India Insure. The guarantee is valid for a period of four years from the date of the first disbursement. According to company disclosures, the transaction is at arm’s length and does not involve any interest from the promoter group or group companies.
The Board also approved the sale, disposal, or lease of assets from a material subsidiary, with the total value exceeding twenty percent of the subsidiary’s assets, subject to shareholder approval.
The corporate guarantee represents a contingent liability for IIRM Holdings India Limited, in the event that India Insure is unable to meet its repayment obligations to the lender.
| Particulars | Description |
|---|---|
| Name of party | India Insure Risk Management and Insurance Broking Services Private Limited ('India Insure') |
| Interest of promoters/group companies | The promoter/ promoter group/ group companies are not interested in this transaction. |
| Details of guarantee | Corporate Guarantee to the Investor for an amount of Rs. 65 crores and interest thereon, as security for the issuance of Non- Convertible Debentures (NCDs) by India Insure. The said facility is for a period of 4 years from the date of first disbursement. |
| Impact on listed entity | There is no immediate impact on the Company, except to the extent of the amount for which the corporate guarantee has been provided, in the event India Insure is unable to meet its repayment obligations to the Lender. The Corporate Guarantee constitutes a contingent liability for the Company. |
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