Pursuant to Regulation 33 of the SEBI (LODR) Reg, 2015 and further to our letter dated 28.07.2025, we write to inform you that the Board of Directors of the Company at their meeting held ....
Awaiting price reaction for this filing.
Nicco Uco Alliance Credit, an NBFC whose RBI licence was cancelled (appeal pending), reported almost zero revenue from operations of just Rs 1.01 lakh (standalone) for Q1 FY26, with total expenses of Rs 382.71 lakhs dominated by finance costs of Rs 363.78 lakhs, resulting in a standalone net loss of Rs 381.70 lakhs and consolidated loss of Rs 381.75 lakhs (EPS of Rs -0.46). The company has not been provisioning interest on dues to consortium bankers and IFC Washington since April 2015, understating the cumulative loss by Rs 2,149 crore (Rs 105 crore for the current period). Bank balances remain unconfirmed as accounts are NPA, and SFIO proceedings relating to accounting violations are pending in court. Auditors BCAG & Associates (formerly Basu Chanchani & Deb) issued an unmodified limited review but drew attention to these serious matters.
This filing highlights severe financial distress — effectively no operating income, recurring losses, a cancelled NBFC licence, and a Rs 2,149 crore hidden cumulative loss. Shareholders should treat this as a high-risk, going-concern situation with very limited prospects of meaningful recovery without a successful one-time settlement with lenders.