Date: October 07, 2026
Board Meeting Outcomes
- The Board of Directors meeting held on October 07, 2026 (Wednesday) from 01:00 p.m. to 02:00 p.m. IST approved availing an unsecured loan/facility
- The decision was taken based on the recommendation of the Audit Committee
Loan Details
Basic Terms:
- Lender: World Resorts Limited (WRL)
- Borrower: Nimbus Projects Limited
- Loan Amount: ₹30,00,00,000 (Rupees Thirty Crore only)
- Disbursement: In tranches from time to time
- Interest Rate: 12% per annum
- Tenure: 2 years
- Security: Unsecured
Relationship Details:
- World Resorts Limited is an Associate Company of Nimbus Projects Limited within the meaning of Section 2(6) of the Companies Act, 2013
- Nimbus Projects Limited holds 25.32% equity stake in World Resorts Limited
- Mr. Bipin Agarwal, Managing Director of Nimbus Projects Limited, holds 3,000,100 equity shares (4.85%) in World Resorts Limited
- Mr. Bipin Agarwal is a common director and shareholder in both contracting companies
- Mr. Rajeev Kumar Asopa, Director, is a common director in both contracting companies
Regulatory Classification:
- The transaction falls within the purview of Related Party Transactions as per Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- The transaction is being carried out at arm's length basis
Purpose: Business Purpose
Additional Information
- No special rights like right to appoint directors, first right to share subscription, or right to restrict any change in capital structure
- No issuance of shares involved in this transaction
- No details of nominee on the board or potential conflict of interest arising out of the agreement
- The disclosure is made available on the company website at www.nimbusprojectsltd.com
Compliance Officer
- Ritika Aggarwal, Company Secretary & Compliance Officer (Membership No: A69712) signed the disclosure