Pursuant to Regulation 34(1) of the SEBI (LODR) Regulations, 2015, we are enclosing herewith the Annual Report of the Company for the Financial year 2024-2025 including the Notice convening ....
Awaiting price reaction for this filing.
Nicco Uco Alliance Credit Ltd, a Kolkata-based NBFC, submitted its Annual Report for FY 2024-25 along with the notice for its 41st AGM scheduled for 19th August 2025. The company reported a standalone loss after tax of Rs. 1,422.94 lacs for FY25, wider than the Rs. 1,149.07 lacs loss in FY24. Total income collapsed from Rs. 65.81 lacs to Rs. 16.77 lacs, a roughly 75% decline, as there was no recovery from defaulting clients. Accumulated losses ballooned to Rs. 68,772.85 lacs (standalone), and no dividend was declared. Critically, lead banker UCO Bank filed a Section 7 IBC petition on 19 March 2025 before NCLT Kolkata (Case CP(IB)129/2025) seeking initiation of Corporate Insolvency Resolution Process against the company, after multiple One Time Settlement offers (Rs. 27.68 cr, Rs. 29 cr, Rs. 33 cr) were rejected. The company's directors still prepared accounts on a going-concern basis but acknowledged that without recovery, maintaining office expenses would be difficult.
This is a deeply negative filing for shareholders. The company is facing an active insolvency petition from its lead bank, has mounting accumulated losses exceeding Rs. 68 crore against a paid-up capital of Rs. 16.59 crore, and sharply declining revenue. Shareholders should brace for significant dilution risk, potential loss of value, and uncertainty around the company's ability to continue as a going concern. The 41st AGM includes a special resolution authorising management to contest the IBC matter, indicating a critical inflection point for the stock.