Loan & Debt5 Jan 2026, 02:17 pm
Nimbus Projects Ltd. Approves Unsecured Loan Facility of Rs. 25 Crore from Associate Company
AI Summary
Nimbus Projects Ltd. has approved the availing of an Unsecured Loan Facility of Rs. 25 Crore by its joint venture partnership firm/ subsidiary entity, IITL-Nimbus, The Palm Village, from Nimbus (India) Limited, an Associate of the Company. The loan will be utilized towards business objectives and discharging payment obligations. The transaction is being carried out at arm's length basis, subject to approval of the shareholders of the Company.
Key Highlights
- Nimbus Projects Ltd. approves unsecured loan facility of Rs. 25 Crore for its joint venture partnership firm/ subsidiary entity.
- The loan will be availed from Nimbus (India) Limited, an Associate of the Company.
- The funds will be utilized for business objectives and discharging payment obligations.
- The transaction is being carried out at arm's length basis.
- The loan agreement is subject to approval of the shareholders of the Company.