Finolex Cables Limited has announced the provision of a corporate guarantee worth ₹39.20 crores to ICICI Bank Limited for its joint venture company's working capital requirements. The disclosure was made under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Corporate Guarantee Details

Finolex Cables has issued a corporate guarantee of ₹39.20 crores to ICICI Bank for its joint venture company Finolex J-Power Systems Limited (FJPSL)'s working capital facilities. The total working capital facility amounts to ₹80.00 crores, with the guarantee forming a part of this arrangement.

Joint Venture Structure and Risk Management

FJPSL operates as a joint venture where Sumitomo Electric Industries Limited holds a 51% stake while Finolex Cables maintains a 49% shareholding. The partnership involves promoter Mr. Deepak Chhabria, who serves as a Promoter of Finolex Cables Limited and Director of FJPSL, establishing the connected party relationship.

The companies have structured a comprehensive risk-sharing mechanism through a Memorandum of Understanding dated July 27, 2023. Under this arrangement:

• Both joint venture partners will bear risks on a pro-rata basis
• Risk allocation corresponds to their respective shareholdings
• Finolex Cables: 49% risk exposure
• Sumitomo Electric Industries Limited: 51% risk exposure

Transaction Framework

The corporate guarantee arrangement has been executed at arm's length basis, ensuring compliance with regulatory requirements for related party transactions. FJPSL has confirmed the risk-sharing arrangement, providing additional assurance regarding the structured approach to managing potential liabilities.

The guarantee represents a strategic financial support mechanism for the joint venture's operational requirements while maintaining proportional risk exposure aligned with ownership stakes. This structure allows FJPSL to access necessary working capital facilities while ensuring both partners share responsibilities according to their investment levels in the joint venture.

Finolex Cables Limited has officially confirmed the cessation of Mrs. Gayatri Kulkarni from her role as Assistant Company Secretary and Compliance Officer. The company informed stock exchanges about the completion of her resignation process on December 12, 2025.

Official Cessation Details

The company's latest communication to BSE and NSE provides specific details about Mrs. Kulkarni's departure:

Key Roles and Responsibilities Affected

Mrs. Kulkarni's departure impacts several critical functions within the organization:

1. Compliance Officer: Ensuring adherence to regulatory requirements and corporate governance standards
2. Assistant Company Secretary: Supporting secretarial and administrative functions
3. POSH Act Responsibilities: Serving as Presiding Officer of Internal Committee under Sexual Harassment of Women at Workplace Act, 2013
4. Nodal Officer: Managing SheBox Portal under POSH Act

Regulatory Compliance and Documentation

Finolex Cables has maintained full regulatory compliance throughout this transition:

The company's disclosure follows Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Transition Management

With Mrs. Kulkarni's official departure, Finolex Cables now needs to address the continuity of compliance functions. The company has fulfilled its obligation to inform stakeholders about this key managerial personnel change, ensuring transparency in corporate governance.

The resignation letter, dated November 13, 2025, cited the decision to "pursue new opportunities for personal and professional growth," with Mrs. Kulkarni assuring full cooperation during the transition period for smooth handover of responsibilities.