Nitco Ltd. — Legal Proceedings Report 2024

Mar 22, 2024

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NITCO/SE/2023-24/36 March 22, 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 – 400051 Mumbai – 400 001 Script code: NITCO Script code: 532722

Dear Sir/Madam,

Sub: Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the ‘Listing Regulations’)

Pursuant to Regulation 30, read with Schedule III of the SEBI Listing Regulations, we hereby inform you that the Company has received Show Cause Notice (SCN) dated March 20, 2024, issued by Securities and Exchange Board of India. The detailed disclosure is mentioned in Annexure A .

Kindly take the above information on your records.

Thanking You,

Yours faithfully, For NITCO Limited

VIVEK PRANNATH Digitally signed by VIVEK PRANNATH TALWAR DN: c=IN, o=Personal, title=7098, pseudonym=886A9C4B095EBFE3D20EFE8B5537929D6B3763F1, 2.5.4.20=1ba122b609153a6d361743f9a364e2289b1fe2116e39287aee98d9129baa257b, postalCode=400026, st=Maharashtra, serialNumber=487A93C67F0077B930E213846F4B TALWAR 5034936C03CE6AC9EE1C56371AD800C03DC8, cn=VIVEK PRANNATH TALWAR Date: 2024.03.22 10:34:59 +05'30'

____

Vivek Talwar Chairperson and Managing Director DIN: 00043180

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Registered Office: NITCO Limited, NITCO House, Sheth Govindram Jolly Marg, Kanjur Marg (East), Mumbai- 400 042. Tel.: 91-22-67302500|67521555, Fax: 91-22-25786484. CIN: L26920MH1966PLC016547. Email: investorgrievances@nitco.in, Website: www. nitco.in

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Annexure - A

	Annexure - A
Particulars	Description
Name(s) of the Authority	Securities and Exchange Board of India (“SEBI”)
Nature and details of the action(s) taken, initiated or order(s) passed	Issuance of SCN dated March 20, 2024 to the Company and CMD. Individually referred as “Notice” and collectively referred to as “Noticees”
Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority	The SCN was received on March 21, 2024
Details of the violation(s)/ contravention(s) committed or alleged to be committed	The SCNallegesthat: 1. The Company has not complied with the provisions of IND- AS 36, 109 and 24. 2. CMD has violated few clauses of provisions of Regulations 4, 17 r/w Regulations 33, 34 and 48 of the SEBI (LODR) Regulations, 2015 and Section 27 of the SEBI Act, 1992. The Noticees have been directed to reply to SCN within the stipulated timelines
Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible	The impact of the SCN cannot be quantified as on date. The aforesaid SCN also provides a settlement mechanism under the SEBI (Settlement Proceedings) Regulations, 2018 and the Company will take appropriate action in this matter in the due course of time.

Digitally signed by VIVEK PRANNATH TALWAR DN: c=IN, o=Personal, title=7098, VIVEK pseudonym=886A9C4B095EBFE3D20EFE8B5537929D6B3763F1, 2.5.4.20=1ba122b609153a6d361743f PRANNAT 9a364e2289b1fe2116e39287aee98d9129baa257b, postalCode=400026, st=Maharashtra, serialNumber=487A93C67F0077B930 H TALWAR E213846F4B5034936C03CE6AC9EE1C56371AD800C03DC8, cn=VIVEK PRANNATH TALWAR Date: 2024.03.22 10:35:29 +05'30'

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Registered Office: NITCO Limited, NITCO House, Sheth Govindram Jolly Marg, Kanjur Marg (East), Mumbai- 400 042. Tel.: 91-22-67302500|67521555, Fax: 91-22-25786484. CIN: L26920MH1966PLC016547. Email: investorgrievances@nitco.in, Website: www. nitco.in