Nicco Uco Alliance Credit Limited announced that at its board meeting held on 30 June 2023, approved discontinuation of Mr. Subrata Bhattacharjee from the post of managing director of the company as the existing term as managing director of the company is expiring on 30 June 2023. In the previous board meeting held on 26 May 2023 he was re-appointed as the managing director at an agreed term for further term of two years with effect from 1 July 2023 and same was uploaded at BSE but due to sudden serious deterioration of his health he would not be able to continue as the managing director of the company as the existing term of managing director of the company is expiring on 30 June 2023 (after closing of the business hours).