Nitco Ltd. — Regulatory Filings 2024

Apr 5, 2024

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NITCO/SE/2024-25/01 April 05, 2024

To,

To,
Corporate Service Department	The Listing Department
BSE Limited	National Stock Exchange of India Limited
Jeejeebhoy Towers	Exchange Plaza, Bandra Kurla Complex, Bandra
Dalal Street,	(E),
Mumbai – 400 001	Mumbai – 400051
Script code:532722	Script code:NITCO

Sub: Disclosure in terms of SEBI circular SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019

Dear Sir/Madam,

With reference to SEBI circular SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019, please find enclosed disclosure regarding the total outstanding amount of default as on March 31, 2024 in the format prescribed under clause C2 of the said circular.

Kindly take the above information on your records.

Thanking You,

Yours faithfully, For NITCO Limited

Digitally signed by VIVEK PRANNATH TALWAR VIVEK DN: c=IN, o=Personal, title=7098, pseudonym=886A9C4B095EBFE3D20EFE8B5 537929D6B3763F1, 2.5.4.20=1ba122b609153a6d361743f9a364e PRANNAT 2289b1fe2116e39287aee98d9129baa257b, postalCode=400026, st=Maharashtra, serialNumber=487A93C67F0077B930E21384 6F4B5034936C03CE6AC9EE1C56371AD800C ____________ H TALWAR 03DC8, cn=VIVEK PRANNATH TALWAR Date: 2024.04.05 16:48:48 +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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C2. Disclosure of default of payment of interest / repayment of principal amount of loans from Banks/ Financial Institutions as on March 31, 2024

Sr. No	Particulars	Rs. (in Crore)
1	Loans / revolving facilities like cash credit frominstitutions	banks / financial
A.	Total amount outstandingas on March 31, 2024	762.83
B.	Of the total amount outstanding, amount of default ason March 31,2024	762.83
2	Unlisted debt securities i.e. NCDs and NCRPS
A.	Total amount outstanding as on March 31, 2024	200
B.	Of the total amount outstanding, amount of default ason March 31, 2024	-
3	Total financial indebtedness of the listed entityincluding short-term and long-term debt	962.83

(Subject to reconciliation & audit)

Notes:

• JM Financial Asset Reconstruction Company Limited vide its letter dated September 19, 2022, revoked the restructuring of existing facilities given under the restructuring agreement dated March 27, 2018 and has reinstated & demanded the dues amounting to Rs. 24,27,62,93,107/- and also, filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) proceedings before National Company Law Tribunal (Tribunal). The petition is pending before the Hon’ble Tribunal.

• The Company had received an email on 9th January, 2023 from Applicant JM Financial Asset Restructuring Company Limited (acting in its capacity as trustee of JMFARC-Corporation Bank Ceramics September 2015- Trust) w.r.t. filing of Miscellaneous Application (MA) under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act to initiate recovery proceedings. By way of the aforesaid MA, the Applicant is praying issuance of Recovery Certificate of Rs.7, 354.43 Lakhs due as on 29th June, 2015 along with interest @14.45 percent per annum compounded with monthly rests. The aforesaid application was numbered as Misc. Application No. 4 of 2023. The Hon'ble Debt Recovery Tribunal - I , Mumbai ,after hearing both the sides, finally reserved the Order on 3rd November, 2023 against the Company.

On 9th January, 2024 The Hon'ble Debt Recovery Tribunal-I uploaded the Order allowing the Miscellaneous Application and issued Recovery Certificate to the tune of Rs. 7,354 .43 Lakhs and stated this would be reduced by 215.61 Lakhs which has already been deposited by the Company.

The Company as an Appellant is contemplating and exploring all other legal options to get stay on the aforesaid DRT Order.

Digitally signed by VIVEK PRANNATH TALWAR VIVEK DN: c=IN, o=Personal, title=7098, pseudonym=886A9C4B095EBFE3D20EFE8B55 37929D6B3763F1, 2.5.4.20=1ba122b609153a6d361743f9a364e2 PRANNATH 289b1fe2116e39287aee98d9129baa257b, postalCode=400026, st=Maharashtra, serialNumber=487A93C67F0077B930E213846 F4B5034936C03CE6AC9EE1C56371AD800C03 TALWAR DC8, cn=VIVEK PRANNATH TALWAR Date: 2024.04.05 16:50:03 +05'30'

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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