Board Decision and Approval Process
The Board of Directors, based on the recommendation of the audit committee, approved in its meeting held on Wednesday, August 12, 2026, the availing/continuation of an unsecured loan/credit facility up to ₹60.00 Crore (Rupees Sixty Crore Only) from Nimbus (India) Limited. This approval is subject to shareholder approval at the ensuing 33rd Annual General Meeting.
Loan Particulars
- Purpose of Loan: Business Loan
- Amount: ₹60.00 Crore (Rupees Sixty Crore Only) to be availed in tranches
- Lender: Nimbus (India) Limited, an associate company and related party
- Lender Details: Financial Company (NBFC) registered with Reserve Bank of India (RBI), having registered office at 1001-1006, 10th Floor, Narain Manzil, 23, Barakhama Road, New Delhi 110001
- Interest Rate: 12% per annum
- Duration: 2 years
- Security: Unsecured
Transaction Status and Timeline
The loan agreement will be executed after obtaining shareholders' approval at the 33rd Annual General Meeting. This represents a renewal/continuation of an existing facility up to the same amount of ₹60.00 Crore.
Regulatory Classification
This transaction is classified as a material related party transaction since Nimbus (India) Limited is an associate company and related party.
Meeting Details
The Board Meeting commenced at 03:30 p.m. and concluded at 08:00 p.m. on August 12, 2026.
Additional Information
The disclosure information is available on the Company's website at www.nimbusprojectsltd.com