Globe Textiles (India) Limited — Board Meeting, 24-02-2025: Outcome of Board Meeting

The Board has approved a loan of ₹16.81 crore to Globe Denwash Private Limited, a subsidiary, aimed at helping to repay unsecured loans from the company's promoters. This decision supports the objectives outlined in the recent rights issue. The move is designed to strengthen the financial position of Globe Denwash while ensuring repayment obligations are met. The loan is unsecured, with no collateral specified, and the arrangement is classified as a related party transaction conducted at arm's length.