NLC India Ltd Approves $600 Million ECB Loan, Secretarial Auditor Appointment, and Subsidiary Investments

NLC India Ltd has announced the outcomes of its Board Meeting held on 10th June, 2024. The company has approved the raising of foreign currency loan through External Commercial Borrowings (ECB) up to 600 Million USD. The company also decided to seek external assistance from Multilateral Development Banks for upcoming Renewable Power Projects. M/s. D. Hanumanta Raju & Co., Practising Company Secretaries have been appointed as the Secretarial Auditor for the Financial Year 2024-25. The company has also approved the issuance of Corporate Guarantee or Letter of Comfort to its subsidiaries. Furthermore, the company has given in-principle approval to invest up to Rs. 994.50 Crore in NLC India Renewables Limited, its Wholly Owned Subsidiary.