Nimbus Projects Limited — Capital/Financing Update 2024

Nov 10, 2024

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NPL/BSE/2024-25/80

November 10, 2024

To, Listing Department BSE Limited Department of Corporate Services, Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai-400001

Scrip Code: 511714 Scrip ID: NIMBSPROJ

Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Dear Sir/Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Board of Directors in its meeting held on Sunday, November 10, 2024 has finalized the terms & conditions for giving unsecured loan/ credit facility of Rupees 25 Crore (Rupees Twenty-Five Crores Only) to IITL-Nimbus, The Express Park View (a partnership firm in which Nimbus Projects Limited is a partner).

The following are the other particulars:

S. No.	Particulars	Detail of Disclosure
a)	Name(s) of parties with whom the agreement is entered	IITL-Nimbus, The Express Park View, a partnership ‘The Firm’ in which Nimbus Projects Limited is a partner.
b)	Purpose of entering into the agreement	Business purpose of the said firm
c)	Amount of Loan	Rupees 25 Crore (Rupees Twenty-Five Crores Only)
d)	Shareholding, if any, in the entity with whom the agreement is executed	Nimbus Projects Limited holds 95.00% stake in ‘The Firm’
e)	Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure	NA

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f)	Whether, the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship	The firm is jointly controlled by the Company and Nimbus Propmart Private Limited, the another group Company. Hence, the firm is a related party. Mr. Bipin Agarwal is a Managing Director and promoter of the Company and a member of the management committee of the said firm. Mr. Rajeev Kumar Asopa, Non-Executive Director of the Company, is also a member of the management committee of the said firm.
g)	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length	Yes, the said transaction is done at arm’s length basis. The approval of shareholders of the Company has been obtained vide resolution passed at the 31stAGM held on 27.09.2024.
h)	In case of issuance of shares to the parties, details of issue price, class of shares issued	NA
i)	In case of loan agreements, details of borrower, nature of the loan, total amount of loan granted/taken, total amount outstanding, date of execution of the loan agreement/sanction letter, details of the security provided to the lenders / by the borrowers for such loan or in case outstanding loans lent to a party or borrowed from a party become material on a cumulative basis	Sanctioned Unsecured loan of Rs.25 Crore to IITL- Nimbus, The Express Park View, a partnership firm, for a period of 2 years at an interest rate of 13% p.a.
j)	Any other disclosures related to such agreements, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreements	NA

The aforesaid information is available on the Company's website at www.nimbusprojectsltd.com and on website of the Stock Exchange at https://www.bseindia.com/..

Kindly take the above information on record and acknowledge the receipt.

Thanking You.

Yours Faithfully For Nimbus Projects Limited Ritika Digitally signed by Ritika Aggarwal Date: 2024.11.10 Aggarwal 18:34:49 +05'30' Ritika Aggarwal (Company Secretary & Compliance Officer) M. No: A69712

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