Nectar Lifesciences Ltd. enters into a 100 crore inter-corporate loan agreement with its Wholly Owned Subsidiary, Avensis Exports Private Limited

Nectar Lifesciences Ltd. has entered into an inter-corporate loan agreement with its Wholly Owned Subsidiary, Avensis Exports Private Limited, for an amount not exceeding INR 100,00,00,000/- (Indian Rupees One hundred crore only). The loan is unsecured and will be used by the borrower for general corporate purposes and business requirements. The tenure of the loan is 10 years with an interest rate of 12% per annum, calculated on a simple basis. The transaction is at arm's length and the borrower is a WOS of the lender.