Loan & Debt24 Feb 2026, 04:20 pm
Nimbus Projects Ltd Secures Rs. 200 Crore Loan from Aditya Birla Housing Finance Ltd
AI Summary
Nimbus Projects Ltd has approved the availing of a secured loan/credit facility of Rs. 200 Crore from Aditya Birla Housing Finance Ltd. The loan will be utilized for the project 'SUNWORLD ARISTA (PH-2 T-5,7,8,9) CLUB'. The loan is granted at an interest rate of 11.75% p.a. floating, for a period of 72 months. The loan is secured by an exclusive second charge on the project land, an exclusive charge on the scheduled sales receivables from sold units & receivables from unsold units of the project, an exclusive charge by way of hypothecation on the escrow account of the project, and an Interest Service Reserve Account equivalent to Three-month interest to be created at the time of each disbursement.
Key Highlights
- Nimbus Projects Ltd secures Rs. 200 Crore loan from Aditya Birla Housing Finance Ltd
- The loan is granted at an interest rate of 11.75% p.a. floating, for a period of 72 months
- The loan is secured by an exclusive second charge on the project land
- An exclusive charge on the scheduled sales receivables from sold units & receivables from unsold units of the project
- An exclusive charge by way of hypothecation on the escrow account of the project
- Interest Service Reserve Account equivalent to Three-month interest to be created at the time of each disbursement