According to reports from CNBC TV18, Nectar Lifesciences Ltd 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. The loan facility is designed to support Avensis Exports' general corporate purposes and business requirements, with the lender holding 100% equity in the borrower company.
As reported by CNBC TV18, the loan agreement features a fixed tenure of 10 years from the date of first disbursement and carries an interest rate of 12% per annum, calculated on a simple basis. The facility is provided as an unsecured loan and was executed on March 11, 2026. The transaction qualifies as a related-party transaction as Avensis Exports is a wholly-owned subsidiary, though it has been undertaken at arm's length.
According to CNBC TV18, shares of Nectar Lifesciences Ltd ended marginally lower on Thursday, March 12, by 0.61% at ₹11.35 on the NSE. The agreement does not include any special rights such as the appointment of directors or restrictions on changes in capital structure.
Separately, as reported by CNBC TV18, the company secured a favourable legal outcome last week when 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. Nectar Lifesciences successfully argued that the court lacked jurisdiction and that the claims were time-barred, effectively disposing of the suit with no financial liability.
