Pursuant to Regulation 30, read with Schedule III of the SEBI Listing Regulations, we wish to inform all the agendas approved by the Board of Directors today at the meeting.
Awaiting price reaction for this filing.
Nicco Uco Alliance Credit Limited's Board meeting on May 19, 2026 approved several items: (1) Re-appointment of Mr. Kaustubha Basu (above 70 years of age, DIN: 10185801) as Managing Director & CEO for a second 3-year term from June 29, 2026, subject to shareholder approval; (2) Appointment of Mr. Abhijit Banerjee (DIN: 11398136) as an Independent Director for a 5-year term; (3) Appointment of CS Rasna Goyal as Secretarial Auditor for FY 2026-27 to FY 2030-31 and M/s Dey Chakroborty & Sen as Internal Auditor for FY 2026-27; (4) Approval to avail Rs. 12 lakhs financial assistance/loan from subsidiary Nicco Insurance Agents and Consultants Limited; (5) Board noted multiple pending legal matters including a NCLAT appeal filed by UCO Bank challenging an NCLT order (December 2025), ongoing DRT proceedings (OA No. 118/2005), and premises-related disputes; (6) The CFO has initiated trespassing-related legal proceedings against three individuals. All matters are under active legal monitoring.
The board approvals are routine governance items with no immediate material impact on the stock. However, the ongoing UCO Bank-led insolvency proceedings (NCLT/NCLAT) and DRT recovery case represent a key risk for shareholders and require close monitoring, as the outcome could materially affect the company's operations and financial health.