Shareholders Approve Related Party Transaction for Office Premises at 92nd AGM
At the 92nd AGM held on September 30, 2026, shareholders approved a related party transaction with M/s. Harshvardhan Construction — purchase or lease of a 968 sq. ft. office at Marol, Andheri East, Mumbai.
- Property Area
- 968 sq. ft.
- Purchase Consideration
- Rs. 3 Crores 5 lakhs
- Annual Lease Rent
- Rs. 42 lakhs 50 thousand per year
- Lease Tenure
- 5 years
- Maximum Transaction Value
- Rs. 3 Crores 25 lakhs
What was approved
Shareholders of Bombay Potteries & Tiles Limited, at the 92nd Annual General Meeting held on September 30, 2026, approved a related party transaction with M/s. Harshvardhan Construction for the purchase/acquisition of premises or taking the premises on rent/lease.
The property
- Location: Wadhwa 723 Avenue, Office 504, Saug Baug, Marol, Andheri East, Mumbai 400059
- Area: 968 sq. ft.
- Purpose: to meet the Company's business, operational and administrative requirements
Commercial terms
- Purchase/acquisition consideration: Rs. 3 Crores 5 lakhs
- Rent/lease consideration: Rs. 42 lakhs 50 thousand per year
- Tenure of rent/lease: 5 years
- Security deposit: Rs. 25 Lakhs
- Maximum value of transaction: Rs. 3 Crores 25 lakhs
Related party angle
The counterparty is a related party. Directors/KMP related to the entity are Mr. Manoj Wadhwa and Mr. Harshavardhan Wadhwa. The company states the transaction is in the ordinary course of business and on an arm's length basis.
Approval trail
- Audit Committee approval: meeting held on September 8, 2026
- Board approval: meeting held on September 8, 2026
- Shareholders' approval: meeting held on September 30, 2026
The AGM commenced at 11:34 a.m. and concluded at 12.04 p.m.
How to read it
Related party transactions draw extra scrutiny because the counterparty is connected to the company's directors. Here, the company has routed it through Audit Committee, Board and shareholder approval, and has stated an alternative structure — outright purchase or a five-year lease — with a defined maximum outlay.
Also from Bombay Potteries & Tiles
Trading Suspension in Equity Shares Revoked from October 1, 2026; Shares to Resume in 'XT' Group
1 Oct 2026
More numbers
- Purchase/acquisition considerationRs. 3 Crores 5 lakhs
- Rent/lease consideration per yearRs. 42 lakhs 50 thousand per year
- Tenure of rent/lease5 years
- Security depositRs. 25 Lakhs
- Maximum value of transactionRs. 3 Crores 25 lakhs
- Area of premises968 sq. ft.
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