Nimbus Projects Ltd
Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015
07:06 PM, 10th Aug 2023
Pursuant to Regulation 30 of SEBI (LODR) Regulations 2015 we wish to inform you that on the recommendation of the Audit Committee the Board at its meeting held on August 10 2023 has approved a proposal inter alia to enter into material related party arrangement with IITL Projects Limited a related party (hereinafter other partner of the firm/SPVs) to acquire the capital investment /contribution held by the other partner in SPVs viz IITL-Nimbus The Express Park View and IITL-Nimbus The Palm Village provided that the aggregate value of transaction(s) shall not exceed Rupees 30 Crore(Rupees Thirty Crore). The proposal also include change in capital contribution in the above said SPVs. Further the same has been recommended to the shareholders for their approval in upcoming Annual General Meeting.Kindly take on record the same.