Nitco Ltd. — Regulatory Filings 2025

Jan 7, 2025

==> picture [149 x 62] intentionally omitted <==

NITCO/SE/2024-25/63 January 07, 2025

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,

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

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 quarter ended December 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

VIVEK Digitally signed by VIVEK PRANNATH PRANNATH TALWAR Date: 2025.01.07 TALWAR 18:54:30 +05'30'

___ Vivek Talwar Chairperson and Managing Director DIN: 00043180

==> picture [68 x 66] intentionally omitted <==

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: investorgrievances@nitco.in Website: www. nitco.in

==> picture [149 x 62] intentionally omitted <==

C2. Disclosure of default of payment of interest / repayment of principal amount of loans from Banks/ Financial Institutions as on December 31, 2024

Sr. No	Particulars	Rs.(in Crore)
1.	Loans / revolving facilities like cash credit from banks / financial institutions
A.	Total amount outstandingas on December 31,2024	805.38
B	Of the total amount outstanding, amount of default as on December 31,2024	734.80
2	Unlisted debt securities i.e. NCDs and NCRPS
A.	Total amount outstandingas on December 31,2024	200
B	Of the total amount outstanding, amount of default as on December 31,2024	-
3	Total financial indebtedness of the listed entity including short-term and long-term debt	1,005.38

(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, Mumbai (Tribunal). Later, the debt was assigned to Authum Investment and Infrastructure Limited and accordingly, vide order dated June 4, 2024, a substitution application filed by Authum Investment and Infrastructure Limited in this regard was allowed by Hon’ble National Company Law Tribunal, Mumbai. The Company had entered into memorandum of intent of settlement with Financial Creditor i.e. Authum Investment and Infrastructure Limited and the same was filed with the Hon’ble Tribunal. The Hon’ble Tribunal vide order dated September 27, 2024 disposed of the Petition 206. IA/3384/2023 IN C.P. (IB)/1308(MB) 2022 as having been withdrawn along with all the pending I.A. if any.

• The Company had received an email on 9[th] January, 2023 from Applicant JM Financial Asset Restructuring Company Limited (acting in its capacity as trustee of JMFARC-Corporation Bank Ceramics September 2015Trust) w.r.t. filing of Miscellaneous Application (MA) under Securitization 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 29[th] 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. The substitution for the ORT proceeding is undergoing.

==> picture [68 x 66] intentionally omitted <==

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: investorgrievances@nitco.in Website: www. nitco.in