Nicco Uco Alliance Credit Ltd

Nicco Uco Alliance Credit Ltd. has announced its audited financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the standalone and consolidated financial results along with the audit report by BCAG & Associates, Chartered Accountants. The results will be published in English and Bengali newspapers. The auditor's report includes a modified opinion and mentions notes regarding the NBFC license restoration, SFIO proceedings, non-confirmation of bank balances, and other matters.

Nicco Uco Alliance Credit Ltd. announced the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The results, along with the audit report by BCAG & Associates, were approved at a board meeting held on May 19, 2026. The company will publish the results in English and Bengali newspapers. The auditor's report includes a modified opinion and mentions notes regarding the restoration of the NBFC license, SFIO proceedings, non-confirmation of bank balances, and other matters.

Nicco Uco Alliance Credit Ltd. has released its audited financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the standalone and consolidated financial results along with the audit report from BCAG & Associates, Chartered Accountants. The results and auditor's report are available on the company's website and will be published in English and Bengali newspapers. The company's auditor has drawn attention to notes regarding the restoration of NBFC License by Reserve Bank of India, proceedings initiated by SFIO, non-confirmation of balances by Banks, pending investors complaints and non-provision of interest on dues to Banks.

The Board of Directors of Nicco Uco Alliance Credit Ltd approved several key agendas at its meeting on May 19, 2026. These include the appointment of CS Rasna Goyal as Secretarial Auditor for FY26-27 to FY30-31, the appointment of M/s Dey Chakroborty & Sen as Internal Auditors for FY26-27, and the re-appointment of Mr. Kaustubha Basu as Managing Director & CEO for a second term of three years. Additionally, the board approved the appointment of Mr. Abhijit Banerjee as an Independent Director and a proposal for availing a ₹12,00,000 loan from its subsidiary, Nicco Insurance Agents and Consultants Limited. The board also noted ongoing legal proceedings.

Nicco Uco Alliance Credit Ltd has scheduled a Board of Directors meeting on May 19, 2026, to consider and approve various agenda items. These include reviewing minutes from previous committee meetings, considering the re-appointment of a Non-Independent Woman Director, disclosures under the Companies Act, compliances under SEBI regulations, approval of the Internal Audit Report, and financial results for the year ended March 31, 2026. The board will also review investor complaints, consider a loan proposal from a subsidiary, and approve reports on corporate governance and secretarial audit.

Nicco Uco Alliance Credit Ltd announced the resignation of its Company Secretary & Compliance Officer, Mr. S. S. Majumdar, due to health reasons. The Board has accepted his resignation with effect from 19th March 2026. The company has appointed Ms. Sanjushree Paul as the new Company Secretary & Compliance Officer with effect from the same date. She will also serve as the Key Managerial Personnel of the company. The company also provided updates on two legal proceedings pending before the Court of the Learned Executive and Judicial Magistrate, Bankshall Court, Kolkata, and the City Civil Court at Kolkata. Lastly, the company mentioned the status of the appeal filed by UCO Bank before the Hon’ble National Company Law Appellate Tribunal (NCLAT) against the Order of the Hon’ble National Company Law Tribunal (NCLT), Kolkata Bench.

Nicco Uco Alliance Credit Ltd. has informed the BSE that a Board meeting is scheduled on March 19, 2026. The meeting will be held at the company's registered office in Kolkata. The agenda includes granting leave of absence, confirmation of the minutes of the previous Board meeting, resignation of the existing Company Secretary, and the appointment of a new Company Secretary & Compliance Officer. The meeting will also discuss the present status of legal proceedings and an appeal filed by UCO Bank before the NCLAT.

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.

Nicco Uco Alliance Credit Ltd announced its unaudited financial results for the quarter and nine months ended 31st December 2025. The company's Board of Directors approved the results, which showed a reduction in losses due to the decision to keep interest on dues to certain institutions in abeyance. The reduction in losses for the current period is Rs. 324 crores, and the cumulative reduction is Rs. 2368 crores. The company has also mentioned pending legal matters, including an appeal against the cancellation of their NBFC license and cases initiated by SFIO.