Nectar Lifesciences Ltd</a> said on Thursday, March 12, it has entered into an inter-corporate loan agreement with its wholly-owned subsidiary, Avensis Exports Private Ltd, for an amount of up to ₹100 crore.
Under the agreement, Nectar Lifesciences will extend an unsecured loan facility to Avensis Exports to support its general corporate purposes and business requirements, according to an exchange filing. The lender holds 100% equity in the borrower.
The loan has a fixed tenure of 10 years from the date of first disbursement and will carry an interest rate of 12% per annum, calculated on a simple basis. The agreement was executed on March 11, 2026, and the facility does not involve any security.
The transaction qualifies as a related-party transaction as Avensis Exports is a wholly-owned subsidiary of the company, though it has been undertaken at arm’s length. The agreement does not include any special rights such as the appointment of directors or restrictions on changes in capital structure.
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Separately, the company last week said it had secured a favourable legal outcome after the Mumbai City Civil Commercial Court returned a complaint filed by Sanjay Chemicals India Private Limited on March 7, 2026. The plaintiff had sought recovery of ₹43.3 lakh as principal along with 21% interest and a penalty of ₹2 lakh.
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However, Nectar Lifesciences successfully argued that the court lacked jurisdiction and that the claims were time-barred. The court returned the complaint, effectively disposing of the suit with no financial liability or further action against the company.
Shares of Nectar Lifesciences Ltd</span> ended marginally lower on Thursday, March 12, by 0.61% 11.35 on the NSE.
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(Edited by : Shoma Bhattacharjee)
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