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

The Board has approved a fresh loan of ₹1680.81 cr to Globe Denwash Private Limited, the company's subsidiary, to facilitate the repayment of unsecured loans owed to the company's promoters. This financial support aligns with the objectives of the recent rights issue and aims to strengthen the subsidiary's financial health. The loan is unsecured and reflects the company’s strategy to manage its subsidiaries' financial requirements effectively while addressing related party transactions at arm's length.