Pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Reg, 2015 we wish to inform the General outcomes approved by the Board of Directors in the meeting held today i.e. 11.11.2025
Awaiting price reaction for this filing.
The Board of Nicco Uco Alliance Credit met on 11 November 2025 and noted two key legal updates involving UCO Bank. First, the insolvency case (C.P.(B) 129/2025) filed by UCO Bank under Section 7 of the IBC before NCLT Kolkata has been heard multiple times, with both parties submitting arguments; the Company has filed its Written Notes of Arguments and the matter is now reserved for order. Second, the DRT-I Kolkata proceedings, where UCO Bank seeks removal of the Receiver and symbolic possession of charged properties under the SARFAESI Act, were adjourned to 22 January 2026 after UCO Bank failed to appear at the last hearing on 10 November 2025. The Board has directed management to keep monitoring both matters closely.
The pending NCLT order is the most material event — if insolvency proceedings are admitted, it could trigger CIRP and seriously threaten shareholder value. The DRT matter, though adjourned, signals continued recovery pressure from UCO Bank on the company's assets.