Board Decision
Board of Directors approved in its meeting held on Monday, July 27, 2026, the terms and conditions for acting as guarantor for its partnership firm IITL-Nimbus, The Express Park View, a subsidiary entity.
Loan Facility Details
Lender: ICICI Bank Limited (S26, Veera Tower, Green Park Extension, New Delhi-110016)
Total Loan Amount: Not exceeding ₹23.00 Crore
Facility Type: Rupee Term Loan
Interest Rate: 10.10% per annum
Tenure: 36 months
Disbursement: From time to time in various tranches
Purpose of Loan
1. Up to ₹23.00 Crore towards repayment of term loan facilities availed by the borrower from other lenders, 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 Provided
The facility, all interest thereon, costs, charges, expenses, penal charges and all other monies shall be secured by:
- 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
- First Pari Pasu charge by way of equitable mortgage on unsold units of the project (including any cancellations of sold units)
- First Pari Passu charge by way of hypothecation on the future Scheduled Receivables of the Project and all insurance proceeds, both present and future
- First Pari Passu charge by way of hypothecation on the Escrow Accounts of the Project
- Exclusive charge by way of hypothecation on the DSR Account, all monies credited/deposited therein and all investments in respect thereof
Key Dates
Sanction Letter Date: July 20, 2026
Board Approval Date: July 27, 2026
Additional Information
The disclosure is also available on the company's website at www.nimbusprojectsltd.com