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Nitco Ltd. — Capital/Financing Update 2024
Oct 17, 2024
62410_rns_2024-10-17_5b40833b-8749-4f6f-b7d3-57af1842d1f2.pdf
Capital/Financing Update
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NITCO/SE/2024-25/43 October 17, 2024
To,
Corporate Service Department The Listing Department BSE Limited National Stock Exchange of India Limited Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Bandra (E), Dalal Street, Mumbai – 400 051 Mumbai – 400 001 Script code: NITCO Script code: 532722
Dear Sir/Madam,
- Subject: Intimation of One Time Settlement with Life Insurance Corporation of India Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“the Listing Regulations”), this is to inform you that the Company has entered into One-Time Settlement (OTS) with Life Insurance Corporation of India (LIC) for its debt facilities.
LIC has approved the OTS proposal and accordingly, the Company on October 16, 2024 paid the One-Time Settlement amount towards its entire dues outstanding with LIC.
Details pursuant to SEBI Circular no. CIR/CFD/CMD/04/2015 dated September 9, 2015 read with Regulation 30 of Schedule III of the Listing Regulations is enclosed as Annexure-I.
You are requested to take the above on record and acknowledge receipt.
Yours Sincerely,
For NITCO Limited
Digitally signed by VIVEK PRANNATH TALWAR VIVEK DN: c=IN, st=Maharashtra, 2.5.4.20=1ba122b609153a6d361743f9a364e2289b1fe211 6e39287aee98d9129baa257b, postalCode=400026, street=Mumbai Carmichael Road, PRANNATH pseudonym=7579bba5c17a4f29a31a465a6afd3057, title=7098, serialNumber=487a93c67f0077b930e213846f4b5034936 c03ce6ac9ee1c56371ad800c03dc8, o=Personal, TALWAR ____________ cn=VIVEK PRANNATH TALWAR Date: 2024.10.17 20:04:19 +05'30' Vivek Talwar Chairman & Managing Director DIN: 00043180
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Registered Office: NITCO Limited, 3/A, Recondo Compound, Sudam Kalu Ahire Marg, Glaxo, Worli Colony, Mumbai, Maharashtra, India, 400 030. Tel.: 91-22-25772800|25772790. CIN: L26920MH1966PLC016547. Email: [email protected] Website: www. nitco.in
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Details pursuant to SEBI Circular no. CIR/CFD/CMD/04/2015 dated September 9, 2015 read with Regulation 30 of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is given below:
| Sr. No. | Particulars | Comments |
|---|---|---|
| 1 | Reason for opting for OTS | To settle the Company’s entire outstandingdebt obtained from LIC. |
| 2 | Brief summary of the OTS | The Company on October 4, 2024 had proposeda One-time settlement for its entire dues to LIC,which was subsequently approved subject toexecution of necessary documents and receiptofconsideration.Consideringthesaidapproval, the Company paid the OTS amounton October 16, 2024. |
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Registered Office: NITCO Limited, 3/A, Recondo Compound, Sudam Kalu Ahire Marg, Glaxo, Worli Colony, Mumbai, Maharashtra, India, 400 030. Tel.: 91-22-25772800|25772790. CIN: L26920MH1966PLC016547. Email: [email protected] Website: www. nitco.in