Nimbus Projects Ltd Avails ₹30 Cr Loan from Associate World Resorts Ltd

Nimbus Projects Ltd announced that its Board of Directors, upon the recommendation of the Audit Committee, has approved availing an unsecured loan facility of ₹30.00 Crore (Rupees Thirty Crore only) from World Resorts Limited, an associate company. The loan will be disbursed in tranches at an interest rate of 12% per annum for a period of 2 years. World Resorts Limited is an associate company where Nimbus Projects holds a 25.32% equity stake. The transaction is considered a related party transaction but is being conducted on an arm's length basis. The purpose of the loan is for business purposes.