Noida Toll Bridge Company Limited has approved a second interim distribution of ₹23.60 crore to ICICI Bank Limited. The payment covers the entire liability up to the cut-off date of October 15, 2018, as part of the company's court-monitored resolution process.

The Board of Directors transacted this business at its 177th meeting held on September 23, 2026. The company notified both the Bombay Stock Exchange and the National Stock Exchange of India Ltd regarding the outcome under SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015.

Resolution and Payment Details

Noida Toll Bridge is part of the IL&FS Group and is currently undergoing a Court Monitored Resolution. The distribution relates to a Secured Term Loan facility availed from ICICI Bank, with a closing balance of ₹23.60 crore as on August 30, 2026.

The resolution process requires the accrual of interest on the loan up to the cut-off date of October 15, 2018. The revised claim report was prepared by claim manager GT and validated by resolution advisors A&M. The working was subsequently approved by the competent office and recommended by the Audit Committee before Board approval.

Conditions Precedent

The approved payment is subject to further approvals from two key entities:

• IL&FS Transportation & Networks Limited (Holding Company)
• IL&FS (New Board)

The meeting commenced at 12:00 pm and concluded at 1:10 pm. Gagan Singhal, Company Secretary and Compliance Officer, signed the disclosure notice dated September 23, 2026.

What the Numbers Show

The approved distribution amount of ₹23.60 crore matches exactly with the closing balance of the Secured Term Loan as reported on August 30, 2026. This indicates that the interim distribution is structured to clear the entire principal liability accrued up to the statutory cut-off date of October 15, 2018, rather than being a partial or discretionary payout based solely on current cash availability. The reliance on external validation by GT and A&M underscores the strict procedural compliance required in the ongoing IL&FS group resolution framework.

Noida Toll Bridge Company Limited disclosed the detailed voting results and scrutinizer's report for its 30th Annual General Meeting (AGM) held on September 21, 2026. All four proposed resolutions were passed with the requisite majority, confirming the adoption of FY26 financial statements and key board appointments.

The meeting, conducted via video conferencing at 12:00 pm, saw a total of 158 shareholders attend virtually. This included one promoter group member and 157 public shareholders out of the 61,841 shareholders on the record date of September 11, 2026. Voting was conducted through remote e-voting and e-voting at the AGM, with results unblocked in the presence of two independent witnesses.

Key Resolutions Passed

Shareholders approved four resolutions during the meeting. The detailed voting breakdown reveals strong promoter support across all items, while public non-institutional investors showed significant dissent on certain governance matters.

The promoters and promoter group voted 100% in favour of all four resolutions, casting 49,095,007 votes each time. In contrast, among public non-institutional shareholders who voted, approximately 74-75% cast votes against the resolutions, though their total vote count was significantly lower than that of the promoters.

Governance and Compliance

Mr. Nand Kishore, Chairman, presided over the proceedings. All directors attended, including committee chairpersons Mr. Balvinder Singh (Audit and Nomination & Remuneration Committees) and Mr. Rakesh Chatterjee (Stakeholders Relationship Committee). The statutory auditor’s report for FY26 was unmodified. The secretarial audit report noted an observation regarding board composition but confirmed compliance via an exemption granted by the National Company Law Tribunal (NCLT), Mumbai Bench, on April 26, 2019, for IL&FS group companies.

Mr. Sanjay Kumar of Kumar Wadhwa & Company served as the scrutinizer for the e-voting process. The report confirmed that the voting process was conducted in a fair and transparent manner in compliance with the Companies Act, 2013, and SEBI Listing Regulations.

Strategic Outlook

In his address, the Chairman highlighted the completion of 25 years of seamless connectivity between Noida and Delhi. He outlined plans to explore additional revenue generation within existing legal and contractual frameworks while managing future maintenance requirements. The company continues to operate under the operational framework established post-IL&FS restructuring, with a focus on maintaining toll collection efficiency.