Nimbus Projects has announced a board meeting to reconstitute its Audit, Nomination & Remuneration, and Stakeholders Relationship Committees. Key director changes are effective.
Nimbus Projects acting as guarantor for subsidiary's Rs.23 Cr loan from ICICI Bank. Funds to be used for ongoing project costs and repayment of existing term loans.
Nimbus Projects secured a ₹40 Cr term loan facility from ICICI Bank for ongoing project funding and loan repayment. IITL-Nimbus will act as guarantor.
Nimbus Projects is developing a 25-acre residential township in Mathura with a 50:50 revenue share. The company will pay ₹20 crore upfront and a ₹10 crore refundable security deposit. Definitive agreements are pending due diligence.
Nimbus Projects has applied to stock exchanges for reclassification of certain promoter group shareholders to the public category. This could impact future corporate governance perception.
