Jain Resource Recycling has issued an additional corporate guarantee of ₹50 crore in favour of ICICI Bank Limited. The guarantee secures credit facilities for its subsidiary, Jain CY Circular Solutions Private Limited.

The Borrowing and Investment Committee of the Board of Directors approved the move at its meeting on September 17, 2026. This issuance represents the second tranche within an overall limit of ₹200 crore approved by the Audit Committee on July 13, 2026.

Guarantee Details

The company disclosed the transaction pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The guarantee covers working capital and other short-term facilities for Jain CY Circular Solutions.

The first tranche of ₹50 crore was issued on July 13, 2026. With this second tranche, the total guarantees provided by Jain Resource Recycling for Jain CY will stand at ₹100 crore.

Financial Impact

The additional corporate guarantee will be treated as a contingent liability in the books of account of Jain Resource Recycling. The filing states there is no immediate cash outflow from the company on account of this issuance.

The promoter group and group companies do not hold any shares in the subsidiary and have no interest in this transaction. The guarantee is considered to be at arm's length.

Jain Resource Recycling held its fifth annual general meeting on August 27, 2026, approving key corporate governance resolutions for the fiscal year ended March 31, 2026. Official voting results filed with stock exchanges confirm that all three ordinary resolutions were passed with requisite majorities.

The meeting, conducted via video conferencing, saw shareholders approve the adoption of audited standalone and consolidated financial statements, the reappointment of Chairman and Managing Director Kamlesh Jain, and the ratification of remuneration for the cost auditor.

Meeting Proceedings

The company engaged National Securities Depositories Limited (NSDL) to facilitate remote e-voting and the virtual meeting platform. Requisite quorum was established with 41 members participating directly through the video conference interface, comprising one promoter representative and 40 public shareholders.

Kamlesh Jain, serving as Chairman and Managing Director, addressed the gathering alongside other board members. He outlined the company’s performance outlook for FY25-26 and responded to shareholder queries regarding capital expenditure, order books, and future growth plans.

Board Composition

The following directors attended the proceedings:

Voting and Resolutions

BP & Associates served as the scrutinizer for the e-voting process. The e-voting period remained open from August 24 to August 26, 2026. All resolutions were passed subject to the requisite majority of votes cast through remote e-voting and during the meeting.

Key resolutions included:

• Adoption of audited financial statements for FY26.
• Reappointment of Kamlesh Jain, who retires by rotation.
• Ratification of cost auditor remuneration for FY27.

Representatives from statutory auditors and secretarial auditors were present to address any procedural queries. The company secretary confirmed that all statutory registers were available on the company website during the proceedings.

What the Numbers Show

The detailed voting results highlight a distinct divergence in promoter engagement across resolutions. While the promoter group voted unanimously (100%) in favor of adopting the financial statements and ratifying cost auditor remuneration, they abstained from voting on the reappointment of Chairman Kamlesh Jain.

Of the 253,942,583 shares held by promoters, only 26,643,265 votes were polled for the chairman's reappointment, representing just 10.49% participation. In contrast, promoter participation exceeded 99.99% for the other two resolutions. Despite this low turnout from the promoter bloc on the second resolution, the proposal passed comfortably with 98.01% support from the votes that were cast, driven largely by strong backing from public institutional investors who voted 95.48% in favor.