Nimbus Projects Limited — Capital/Financing Update 2024

May 17, 2024

==> picture [452 x 64] intentionally omitted <==

NPL/BSE/2024-25/ 19 May 17, 2024

To, The Listing Department BSE Limited Phiroze Jeejeebhoy Tower Dalal Street Mumbai — 400001

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

Scrip Code: 511714 Scrip ID: NIMBSPROJ

Dear Sir,

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 Friday, May 17, 2024 has finalized the terms & conditions for giving unsecured loan/ credit facility of Rupees 15.00 Crore (Rupees Fifteen Only) to IITL-Nimbus, The Palm Village (a partnership firm in which Nimbus Projects Limited is a partner). The following are the other particulars:

a)	Name(s) of parties with whom the agreement is entered	IITL-Nimbus, The Palm Village, 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)	Size of agreement	15.00 Crore
d)	Shareholding, if any, in the entity with whom the agreement is executed	Nimbus Projects Limited holds 94.55% 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

==> picture [448 x 55] intentionally omitted <==

==> picture [452 x 64] intentionally omitted <==

f)	Whether, the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship	The approval of shareholders of the Company has been obtained vide resolution passed at the 30th AGM held on 28.09.2023. The firm is jointly controlled by the Company and Nimbus Propmart Private Limited, the another group Company. Hence, the firm is a related party. Further, Mr. Bipin Agarwal is Managing Director and promoter of the Company and 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.
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.15.00 Crore to IITL-Nimbus, The Palm Village, the partnership firm, for a period of 3 years at an interest rate of 13% p.a. The Loan agreement shall be executed in due course. The outstanding loan at the date of sanction of this loan shall be Rs. 50 lakh.
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

Request you to take the above on record.

Thanking you Yours faithfully,

For Nimbus Projects Limited

BIPIN Digitally signed by BIPIN AGARWAL AGARWAL Date: 2024.05.17 19:25:14 +05'30' Bipin Agarwal (Managing Director) DIN: 00001276

==> picture [448 x 55] intentionally omitted <==