Cancellation of Long term loan facility availed by IITL-Nimbus, The Express Park View, joint venture partnership firm of the company from Nimbus (India) Limited, an associate of the company
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The Board of Directors of Nimbus Projects Ltd, on the recommendation of the Audit Committee, has decided to cancel a proposed Long-Term Unsecured Loan Facility of Rs. 25 Crore. This loan was to be availed by IITL-Nimbus, The Express Park View, a joint venture partnership firm of the company, from Nimbus (India) Limited, an associate of the company. The decision was made at the Board meeting held on January 5, 2026. This follows an earlier communication dated November 14, 2025 regarding the same facility.
The cancellation means the JV partnership firm will not receive the planned Rs. 25 crore funding from the associate company, which could affect the JV's growth or operational plans. For Nimbus Projects shareholders, this signals a pullback in previously planned capital deployment into the JV, though it also reduces inter-company lending exposure for the associate entity.