Pursuant to the Regulation 30 of the SEBI (LODR) Regulations, 2015, please find enclosed summary of the proceeding of the 41st Annual General Meeting of the Company held on 19th August, ....
Awaiting price reaction for this filing.
Nicco Uco Alliance Credit Limited held its 41st AGM on 19 August 2025 at its registered office in Kolkata, chaired by Managing Director & CEO Mr. Kaustubha Basu. Members adopted the audited standalone and consolidated financial statements for the financial year ended 31 March 2025 along with the Board and Auditor reports. Mrs. Anita Lahiri was re-appointed as a Director (retiring by rotation), and Mr. Prabir Kumar Nag was re-appointed as an Independent Director for a second five-year term from 25 May 2025 to 24 May 2030. Shareholders also approved alterations to the company's Memorandum and Articles of Association to align with the Companies Act, 2013, and authorised the filing of a revised Form MR-1 to correct an error in the MD's age details. Voting results via the scrutiniser's report will be submitted separately to the stock exchanges.
Most importantly, shareholders authorised the Board to contest an insolvency application filed by UCO Bank under Section 7 of the IBC, 2016 at NCLT Kolkata (Case No. CP(IB)129/2025), which is a material negative development that may pressure the stock and signals creditor stress. Other items are routine governance matters with limited near-term price impact, though the continued legal battle with UCO Bank remains the key risk to monitor.