Board finalises terms to avail Rs. 30 crore unsecured loan from associate World Resorts

The Board has finalised the terms and conditions to avail an unsecured loan/facility of Rs. 30,00,00,000 (Rupees Thirty Crore) from World Resorts Limited, an associate company, in tranches.

Wed 7 Oct 2026

Loan / Facility Amount

Rs. 30,00,00,000 (Rupees Thirty Crore) unsecured loan/facility from World Resorts Limited, in tranches

Interest Rate

12% per annum

Tenure

2 years

What was finalised

• Nimbus Projects Limited will avail an unsecured loan/facility of Rs. 30,00,00,000 (Rupees Thirty Crore) from World Resorts Limited, described as an associate company, from time to time in tranches.
• The interest rate is 12% per annum and the period is 2 years.
• The stated purpose is business purpose.
• The terms and conditions were finalised by the Board on the recommendation of the Audit Committee.

Why it is a related party transaction

• World Resorts Limited is an associate company of Nimbus Projects Limited.
• Nimbus Projects Limited holds 25.32% equity stake in World Resorts Limited.
• Mr. Bipin Agarwal, Managing Director of the Company, is a common director and shareholder in both contracting companies, and holds 3000100 (4.85%) equity shares in World Resorts Limited.
• Mr. Rajeev Kumar Asopa, Director, is a common director in both contracting companies.
• The update states the transaction falls within the purview of related party transactions, and that it is being carried out at arm's length basis.

Other particulars stated in the update

• Significant terms such as special rights like right to appoint directors, first right to share subscription in case of issuance of shares, or right to restrict any change in capital structure: N.A.
• Issuance of shares, issue price and class of shares issued: N.A.
• Nominee on the board or potential conflict of interest arising out of the agreement: N.A.

How a reader can look at it

• This is a disclosure of the terms finalised for a borrowing, with the amount to be availed in tranches.
• It creates an interest-bearing obligation at 12% per annum for 2 years, which can be weighed against the company's scale of operations.
• Because the lender is an associate company and there are common directors, the transaction is classified as a related party transaction, and the update notes it is at arm's length.

The Board meeting commenced at 01:00 p.m. (IST) and concluded at 02:00 p.m. (IST).

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