Board Approval Details

The Board of Directors approved the following in its meeting held on Monday, July 27, 2026:

  • Meeting commenced at 01:00 p.m. and concluded at 03:00 p.m.
  • Approved availing term loan facility of up to ₹40 Crore (Rupees Forty Crore only) from ICICI Bank Limited
  • Authorized the company's firm IITL-Nimbus, The Express Park View to act as Guarantor for availing the loan

Loan Facility Details

Lender: ICICI Bank Limited, having its office at S26, Veera Tower, Green Park Extension, New Delhi-110016

Total Amount: Not exceeding ₹40 Crore (Rupee Term Loan)

Interest Rate: 10.10% per annum

Duration: 36 months

Disbursement: From time to time in various tranches

Sanction Date: Credit Arrangement Letter/Sanction Letter dated July 20, 2026

Purpose of Loan

1. Up to ₹40.00 Crore towards repayment of term loan facilities availed by the Borrower from Other Lender utilized towards cost of ongoing projects of the Borrower Group (excluding land, TDR and FSI cost) and transaction related expenses.

2. Balance of the proposed loan (if any) to be utilized towards funding of the cost of ongoing projects.

Security Details

The facility, all interest, costs, charges, expenses, penal charges and all other monies shall be secured by:

1. First Pari Pasu charge by way of equitable mortgage on approximately 52,493.16 sq. mtrs. located at Plot No. GH-03, Sector CHI-V, Greater Noida, Gautam Budh Nagar, Uttar Pradesh

2. First Pari Pasu charge by way of equitable mortgage on unsold units of the project including any cancellations of sold units

3. First Pari Passu charge by way of hypothecation on future Scheduled Receivables of the Project and all insurance proceeds, both present and future

4. First Pari Pasu charge by way of hypothecation on the Escrow Account/s of the Project

5. Exclusive charge by way of hypothecation on the DSR Account all monies credited/deposited therein and all investments in respect thereof

Additional Information

The same information is available on the company's website at www.nimbusprojectsltd.com

Compliance Officer

Ritika Aggarwal (Company Secretary & Compliance Officer, M. No: A69712) digitally signed the disclosure on July 28, 2026 at 16:13:11 IST.