Nicco Uco Alliance Credit Ltd: Extension of CFO's Service, Appointment of Additional Director, and Dismissal of Insolvency Application

Nicco Uco Alliance Credit Ltd announced that the Board of Directors approved the extension of service of Mr. Mahadeb Chatterjee as the Chief Financial Officer for two years. The Board also approved the appointment of Mr. Abhijit Banerjee as an Additional Director for a further period of two years. Furthermore, the company informed that the application filed by UCO Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the Company has been dismissed. The Board took note of the further developments in the proceedings initiated by UCO Bank before Debt Recovery Tribunal-1. Kolkata in connection with Original Application No. 118 of 2005. The Company is taking necessary legal steps to safeguard its interests in legal proceedings initiated by Deshra Rural Development Agency and filed by the Chief Financial Officer against certain individuals.