Nicco Uco Alliance Legal Updates and Board Changes

1. Legal Proceedings - Bankshall Court (Misc. Case No. 215/2025) and City Civil Court (Title Suit No. 2565/2025)

Misc. Case No. 215/2025 before Executive and Judicial Magistrate, Bankshall Court, Kolkata initiated by Deshra Rural Development Agency regarding premises occupied by them and owned by company
Matter heard on June 4, 2026 for police report receipt
August 6, 2026: Adjourned and listed for August 18, 2026 hearing
August 18, 2026: Police report submitted, company concluded submissions and placed City Civil Court order dated February 25, 2026 on record
Petitioner directed to submit reply by August 19, 2026
August 19, 2026: Court observed no justification for continuing proceedings, case dropped and petition disposed of
Title Suit No. 2565/2025 before City Civil Court at Kolkata
June 30, 2026: Matter fixed for hearing on plaintiff's reply to written objection against injunction application
Adjourned to August 21, 2026
August 21, 2026: Matter not taken up due to Bar Association resolution, adjourned to December 10, 2026

2. Legal Proceedings - Bankshall Court (Misc. Case No. 250/2025)

Initiated by Mr. Mahadeb Chatterjee, CFO against Mr. Santosh Kumar Singh, Mr. Ashok Kumar Sharma and Mr. Rakesh Kumar Baid regarding alleged trespassing into company premises
Listed on May 15, 2026: Opposite parties failed to appear
June 4, 2026 and August 18, 2026: Opposite parties failed to appear
August 18, 2026: Court directed opposite parties to file reply to Show Cause Notice by August 19, 2026
August 19, 2026: Court granted final opportunity to submit reply
Opposite parties have not filed reply
Matter adjourned to December 1, 2026 for hearing

3. UCO Bank Recovery Proceedings before DRT

Original Application No. 118 of 2005 before Debt Recovery Tribunal-I, Kolkata
UCO Bank seeking removal of Joint Receiver appointed pursuant to Order dated December 1, 2005
UCO Bank issued notice under Section 13(8) of SARFAESI Act, 2002 for symbolic possession of charged properties
Company submitted reply to SARFAESI notice
May 11, 2026: Applicant Bank appeared for amendment of cause list
June 30, 2026: Company directed to file written objections to removal application
August 17, 2026: Court directed company to file written statement, listed for October 7, 2026 hearing
October 7, 2026: Matter not taken up due to paucity of time
Company filed written submissions electronically on October 16, 2026
Physical hard copy submitted on October 27, 2026
Matter listed for December 22, 2026 hearing

4. UCO Bank Appeal before NCLAT

UCO Bank (Lead Bank of consortium) filed Appeal before NCLAT challenging Order dated December 18, 2025 passed by NCLT Kolkata in CP (IB) No. 129/KB/2025 including IA No. 1211/KB/2025
Matter heard on various dates
May 13, 2026: UCO Bank filed rejoinder
Company sought dismissal on procedural grounds
May 22, 2026: Adjourned to July 9, 2026 upon company request
July 9, 2026: Not taken up due to counsel absence (inclement weather), adjourned to August 13, 2026
August 13, 2026: Not taken up, adjourned to October 1, 2026
October 1, 2026: Not taken up due to paucity of time, listed for November 3, 2026
November 3, 2026: Not taken up due to paucity of time, listed for December 2, 2026

5. Ratification of Loan/Advance to Company Secretary

Board ratified loan/advance of ₹88,000 (Rupees Eighty-Eight Thousand) to Ms. Sanjushree Paul, Company Secretary and Compliance Officer
Extended on August 19, 2026 for medical emergency due to mother's hospitalization
Reason: Non-settlement of medical insurance claim under Corporate Medical Insurance Policy due to pre-existing disease condition
Approved under Companies Act, 2013 Section 179(3)(f) read with Section 177(4)(iv), Section 2(76)(ii) and SEBI LODR Regulation 23
Audit Committee approved ratification earlier same day

6. Appointment of Additional Director

Mr. Tapan Datta (DIN: 12002839) appointed as Additional Director (Independent)
Effective from conclusion of Board Meeting (November 2, 2026)
Term: Until ensuing AGM or last date AGM should have been held
Recommended by Nomination and Remuneration Committee
Qualifications: M.Tech in Chemical Engineering, experience in Production Management and Project Management
Not related to any existing director
Not debarred from director office by SEBI or any authority

7. Committee Reconstitution

Mr. Abhijit Banerjee (DIN: 11398136) appointed member of all three committees:
Audit Committee: Mr. Prabir Kumar Nag (Chairman), Mr. Uditendu Sarkar, Mrs. Anita Lahiri, Mr. Abhijit Banerjee
Nomination and Remuneration Committee: Mr. Prabir Kumar Nag (Chairman), Mr. Uditendu Sarkar, Mrs. Anita Lahiri, Mr. Abhijit Banerjee
Stakeholders Relationship Committee: Mrs. Anita Lahiri (Chairperson), Mr. Prabir Kumar Nag, Mr. Uditendu Sarkar, Mr. Abhijit Banerjee