Availing of loan from World Resorts Limited
NIMBSPROJ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Nimbus Projects Ltd's Board, on February 24, 2026, approved availing an unsecured loan of Rs. 25 crore from World Resorts Limited (WRL), an associate company in which Nimbus holds a 25.32% equity stake. The loan will be drawn in tranches at 10% per annum interest for a 2-year tenure, for business purposes. The transaction qualifies as a related party transaction since common directors (MD Mr. Bipin Agarwal and Director Mr. Rajeev Kumar Asopa) sit on both boards, though the company confirms it is being carried out at arm's length. Separately, the company already has a prior Rs. 5 crore loan from WRL at the same 10% rate, with Rs. 2 crore currently outstanding, taking total exposure to up to Rs. 27 crore (existing outstanding plus new facility).
Shareholders should note this is a material related-party borrowing from an associate company, which increases the company's debt load but at a market-aligned 10% interest rate. While arm's-length pricing and proper audit committee approval reduce governance risk, investors may want to monitor the end-use of funds and overall debt levels going forward.