Nicco Uco Alliance Credit Limited will close its register of members and share transfer books from September 3, 2026, to September 9, 2026, ahead of its 42nd Annual General Meeting (AGM). This closure ensures that only shareholders registered on the record date are eligible to attend and vote at the meeting, which is scheduled for September 9, 2026, at 11:00 A.M. The event will take place at the company’s registered office located at Nicco House, 2nd Floor, 2, Hare Street, Kolkata.

The book closure is mandated under Section 91 of the Companies Act, 2013, read with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. During this period, no transfer of equity shares will be processed, meaning investors looking to trade shares must be aware that ownership changes will not be reflected in the company’s records until after the closure ends.

Key Dates and Details

The following table outlines the critical dates and security details for the upcoming corporate action:

Sanjushree Paul, Company Secretary and Compliance Officer of Nicco Uco Alliance Credit Limited, issued the notice on August 11, 2026. The communication was directed to BSE Ltd, PJ Towers, Dalal Street, Fort, Mumbai, ensuring compliance with exchange listing requirements.

What This Means for Investors

For shareholders, the book closure period is a standard procedural step in the corporate calendar. It defines the cut-off point for determining who holds shares as of the record date. If an investor purchases shares during this window, they will not appear on the register until after September 9, 2026, and thus will not have voting rights for this specific AGM. Conversely, those selling their shares before September 3, 2026, will retain their voting rights if they were registered prior to the closure start date.

The AGM itself serves as a forum for shareholders to review the company’s performance, approve financial statements, and elect directors. While the specific agenda items for the 42nd AGM were not detailed in this particular notice, such meetings are critical for corporate governance and shareholder engagement. Investors are advised to monitor further communications from Nicco Uco Alliance Credit Limited for the notice containing the full agenda and explanatory statements required by law.

Nicco Uco Alliance Credit Limited reported a standalone net loss of ₹15.85 crore for the financial year ended March 31, 2026 (FY26), widening from a loss of ₹14.23 crore in the previous year. The company submitted its annual report to BSE Limited on August 11, 2026, pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing coincides with the dispatch of the notice for its 42nd Annual General Meeting (AGM) scheduled for September 9, 2026, where shareholders will vote on key governance changes and a related-party loan transaction. The continued losses underscore the company’s ongoing financial distress, exacerbated by the cancellation of its RBI registration for fund-based business activities.

The consolidated net loss stood at ₹15.85 crore, marginally higher than the standalone figure. Profit before tax declined to ₹15.85 crore from ₹14.33 crore in FY25. The company’s accumulated losses increased significantly, with the closing balance reaching ₹703.58 crore on a standalone basis and ₹703.48 crore on a consolidated basis. In view of these results, the Board of Directors did not recommend any dividend for the year. The paid-up share capital remained unchanged at ₹16.56 crore.

Governance and Board Appointments

Shareholders will consider several special resolutions at the upcoming AGM. The Board seeks approval for the reappointment of Kaustubha Basu as Managing Director and CEO for a further term of three years, effective June 29, 2026. As Mr. Basu has attained the age of 73 years, this reappointment requires shareholder consent via a Special Resolution under Schedule V of the Companies Act, 2013. His basic salary is fixed at ₹40,000 per month, with fuel reimbursement up to ₹10,000 per month. The company may pay this remuneration as minimum remuneration even in years with no or inadequate profits.

Additionally, shareholders will vote to appoint Abhijit Banerjee as an Independent Director for a five-year term. Mr. Banerjee, who holds an LL.B degree, was initially appointed as an Additional Director by the Board on February 12, 2026. He brings legal expertise to the Board and is not liable to retire by rotation. Mrs. Anita Lahiri will also be reappointed as a Director retiring by rotation.

Related Party Transaction and Legal Status

The special business includes seeking approval for availing a loan/financial assistance aggregating to ₹12,00,000 from its subsidiary, Nicco Insurance Agents and Consultants Limited (NIACL). This transaction qualifies as a related party transaction under Regulation 23 of the SEBI LODR Regulations, 2015. The Audit Committee and Board approved the proposal on May 19, 2026, subject to member consent. Mr. Kaustubha Basu and CFO Mahadeb Chatterjee, who are also directors on NIACL’s board, are deemed interested in this resolution.

Legally, the company faces an appeal filed by UCO Bank before the National Company Law Appellate Tribunal (NCLAT) against the dismissal of its Section 7 IBC petition by the NCLT Kolkata Bench in December 2025. The company is contesting this appeal. Furthermore, the Serious Fraud Investigation Office (SFIO) cases against the company and its directors remain pending since 2009.

What the Numbers Show

The widening loss despite minimal operational activity highlights the structural challenges facing Nicco Uco Alliance Credit Limited. With fund-based business discontinued due to RBI registration cancellation, the company relies on recoveries from defaulting parties, which yielded only ₹44.60 lakh in income during FY26. The accumulation of losses exceeding ₹700 crore indicates that the company’s net worth is fully eroded, making equity holders’ claims subordinate to all creditors. The proposed loan from a subsidiary suggests internal liquidity management is critical for maintaining minimal operational expenses.