Nicco Uco Alliance Credit Ltd

Litigation status

• Cases 215/2025 and Misc. Case No.250 linked; next hearing on 18-08-2026.
• Deshra Rural Development Agency filed case seeking protection of property; company contested.
• Case TS 2565/2005; next date 21.08.2026; ownership documents required.
• Debt Recovery Tribunal Case 118/2025: company to file written objection by 17.08.2026.
• NCLAT hearing on 13.08.2026 to decide inclusion of late NCLT order and documents.
• Police report submitted; proceedings largely in our favour.

Financial results approved

• Unaudited standalone and consolidated Q1 2026 results approved.
• Limited Review Reports by BCAG & Associates submitted.
• Extract of results to be published in English and Bengali newspapers.
• Press clipping of the extract to be submitted; results posted on company website.
• Board meeting held 12 August 2026; results reviewed and recorded.

Regulatory and compliance disclosures

• RBI NBFC license restoration noted; cancellation order under appeal.
• SFIO proceedings against the company pending before Chief Metropolitan Magistrate's Court.
• Bank balance confirmations not available for NPAs.
• Interest on bank dues paused since 01-Apr-2015; cumulative losses Rs 2599 crore.
• No investor complaints as of 30 June 2026.

Governance and management

• No new directors or auditors appointed; no management changes reported.

AGM notice dispatch

• Notice of the 42nd AGM dispatched to shareholders on 11 August 2026.
• AGM scheduled for 9 September 2026; notices circulated to 5,648 registered email addresses.
• Notice and Annual Report available on company site, BSE, and NSDL.
• RTA confirms dispatch of notices.

Book Closure Details

• Purpose: 42nd Annual General Meeting.
• Type of Security: Equity shares.
• Book Closure: Sep 3-9, 2026 (inclusive).
• AGM date/time: 9 September 2026 at 11:00 AM.

Financial position & performance

• Standalone net loss for year ended 31 Mar 2026: Rs 1,585.27 lakh.
• Consolidated net loss for year ended 31 Mar 2026: Rs 1,585.01 lakh.
• Dividend and interest income: standalone Rs 44.60 lakh; consolidated Rs 44.81 lakh.
• Dividend not declared due to ongoing losses.
• Paid-up share capital on 31 Mar 2026: Rs 16.56 crore.
• Net worth is materially negative; retained earnings deficit around Rs 70,800 lakh.
• RBI NBFC license cancelled; appeal pending; accounts prepared on going-concern basis.
• Current borrowings Rs 10,476.64 lakh; non-current borrowings Rs 496.83 lakh.
• Total assets around Rs 471.7 lakh (standalone) and Rs 482.3 lakh (consolidated).
• One-time settlement negotiations ongoing with lenders and IFC(W); interest waived on some dues.

Dividend & capital structure

• AGM date: 9 September 2026; agenda includes adoption of accounts and director appointments.
• No dividend proposed for 2025-26 due to loss position.
• Share capital: Rs 16.56 crore; no significant equity changes during year.

Governance & board changes

• 42nd AGM scheduled for 9 Sep 2026 at Nicco House, Kolkata.
• Rasna Goyal appointed Secretarial Auditor for five years.
• Abhijit Banerjee appointed Independent Director for five years.
• Kaustubha Basu reappointed MD and CEO for three years from 29 June 2026.
• Loan approval: may borrow up to Rs 12 lakh from NIACL.
• Board committees reconstituted on 11 Nov 2024; five board meetings held.
• Code of Conduct in force; Vigil Mechanism with direct audit committee access.

Debt, liquidity & risk

• Current borrowings Rs 10,476.64 lakh; non-current Rs 496.83 lakh.
• Liquidity stressed: current ratio 0.15x; debt-equity negative; debt service coverage 0.07x.
• Ongoing one-time settlement negotiations with lenders; some interest written off.
• NBFC license cancellation unresolved; several legal/regulatory actions pending.
• Subsidiary Nicco Insurance Agents & Consultants Ltd is not considered material.

Audit & controls

• Statutory auditors: BCAG & Associates for standalone and consolidated.
• Audit qualifications include RBI NBFC license cancellation impact; non-confirmation of bank balances; interest waiver.
• Actuarial valuation not done; going concern basis adopted with potential adjustments.
• Secretarial Audit: MR-3 conducted; compliance with corporate governance.
• Independent director declarations on independence submitted.

Related parties & subsidiaries

• Related party transactions for 2025-26 reported as non-material.
• Subsidiary: Nicco Insurance Agents & Consultants Ltd; not a material subsidiary under SEBI.

Outlook & risk factors

• Outlook centers on settlements with lenders to stabilize liquidity.
• Risks include potential impairment, penalties if disputes progress unfavorably.
• Regulatory environment and RBI NBFC resolution could materially affect operations.

AGM details

• Date/time/mode: 9 Sept 2026, 11:00 AM, physical meeting with remote e-voting.
• Record date for voting: 2 Sept 2026 (Benpos); voting rights on paid-up shares as on that date.

Ordinary business

• Adopt audited standalone P&L and balance sheet for year ended 31 Mar 2026.
• Adopt audited consolidated P&L and balance sheet for year ended 31 Mar 2026.
• Reappoint Mrs. Anita Lahiri as Director, retiring by rotation.

Special business

• Appoint CS Rasna Goyal as Secretarial Auditor for five years.
• Appoint Mr. Abhijit Banerjee as Independent Director for five years.
• Reappoint Kaustubha Basu as MD&CEO for 3 years from 29 Jun 2026.
• Remuneration: Rs 40,000/month; car/fuel up to Rs 10,000/month; minimum remuneration clause.
• Board authorized to vary terms within statutory limits.
• Avail loan from NIACL up to Rs 12 lakh; terms to be mutually agreed.

Meeting Details

• Date: 12 August 2026; Time: 02:00 PM; Venue: Nicco House, 2 Hare Street, Kolkata 700001.

Key Agenda Items

• To grant leave of absence.
• To note and confirm minutes of Nomination & Remuneration, Audit Committee, and May 19, 2026 Board meeting.
• To note SEBI LODR compliance for Q1 ended 30 June 2026.
• To note MD&CEO and CFO certificate under Reg 33(2)(a).
• To approve unaudited standalone and consolidated quarterly results for quarter ended 30 June 2026.
• To note approval of Secretarial Audit Report by circulation for FY ended March 31, 2026.
• To note status of legal proceedings including DRT, NCLT, NCLAT with UCO Bank.

Other Notes

• Ongoing legal/regulatory actions: UCO Bank matters before DRT, NCLT, NCLAT.