Jubilant FoodWorks Limited (NSE: JUBLFOOD, BSE: 533155), operator of Domino’s and Dunkin’ in India, announced key decisions from its Board meeting held on Wednesday. The Board approved the revocation of corporate guarantees worth €116.08 million issued for its Netherlands subsidiary and elevated Mr. Tejaswi Narasimha Nori to Senior Management.
Revocation of Corporate Guarantees
The Board revoked guarantees provided to HSBC Bank’s Gift City Branch, securing facilities for Jubilant Foodworks Netherlands B.V. (JFN). The guarantees, initially disclosed in 2021 and 2024, will be replaced with alternative non-recourse arrangements. This strategic move aligns with the company’s efforts to optimize financial liabilities while ensuring uninterrupted operations for JFN, its wholly-owned subsidiary.
Leadership Elevation
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Mr. Tejaswi Narasimha Nori, previously Senior Vice President and Business Head for Hong’s Kitchen and Dunkin’, was elevated to the Senior Management cadre. Mr. Nori, with more than 20 years in FMCG and media, has boosted store expansion and operational efficiency since his 2022 arrival.. An IIM Ahmedabad alumnus, he previously held leadership roles at Star India and Coca-Cola.
Secretarial Auditor Appointment
The Board appointed M/s. Chandrasekaran Associates, a Delhi-based peer-reviewed firm, as Secretarial Auditors for a five-year term starting FY2025-26. The firm brings 36+ years of expertise in compliance audits for NIFTY50/SENSEX-listed companies. Shareholders will ratify the appointment at the upcoming Annual General Meeting.
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Published on: May 13, 2025 / M Vishnu
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पत्रं पुष्पं फलं तोयं यो मे भक्त्या प्रयच्छति।
If one offers Me with love and devotion a leaf, a flower, fruit, or water, I will accept it.
