Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, NRB Bearings has informed that at a meeting of the Board of Directors held on January 20, 2025, the Board approved and entered into an Inter-Company Agreement dated January 20, 2025 with NRB Industrial Bearings (NIBL), a related party for: • regulating the rights to use Intellectual Property • release by NIBL of the right to use the immovable property of the Company situated at 2nd and 3rd floor, Dhannur, 15 Sir P M Road, Fort, Mumbai 400 001 • non solicitation of employees. The Company shall make a payment to NIBL, upon completion of certain conditions precedent as specified in the Inter-Company Agreement (Agreement), of Rs. 55.12 crores. The details as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 (as amended) are given in the enclosed Annexure-I.
The above information is a part of company’s filings submitted to BSE.
