Board approves MoA recording cessation of two wholesale distributors for Bihar, West Bengal, North-East

Indo National Ltd's Board approved, on 12 October 2026, a Memorandum of Agreement with Radiohms Agencies, RAL Consumer Products Limited (the Distributors) and Rajendra Prasad Khaitan.

Mon 12 Oct 2026

What was approved

Indo National Ltd informed the exchanges that its Board of Directors, at a meeting held on 12 October 2026, approved the execution of a Memorandum of Agreement with Radiohms Agencies, RAL Consumer Products Limited (together, the Distributors) and Rajendra Prasad Khaitan. A Memorandum of Agreement is a written record of terms agreed between the parties.

What the agreement records

The MoA records and confirms the cessation of the Distributors as the authorised wholesale distributors of the Company for Bihar, West Bengal and the North-Eastern States in India, with effect from 26 September 2024. It also covers the settlement of inter-se payables.

The update states that each of RPK and the Distributors has entered into customary non-compete obligations in respect of certain product lines of the Company, and customary non-solicit obligations.

The amount involved

Payment towards the purpose set out above, including set-off of identified payables and receivables of RA / RAL as per the terms of the MoA, is a net sum of INR 2,35,60,956 (Indian Rupees Two crores thirty-five lakhs sixty thousand nine hundred and fifty-six only) payable by the Company.

Related party position

RPK is a member of the promoter group of the Company and is accordingly a related party. The update states the transaction is undertaken at an arm's length basis. No shares are being issued or transferred to the parties.

Board meeting timing

The Board Meeting commenced at 03:00 P.M. and concluded at 4.00 P.M. (IST).

In simple terms, what a reader can take from this

• Two distributors cease to be the Company's authorised wholesale distributors for Bihar, West Bengal and the North-Eastern States, with effect from 26 September 2024.
• The monetary element is a net payment of INR 2,35,60,956 by the Company, after setting off identified payables and receivables of RA / RAL.
• A promoter group member is involved, the transaction is on an arm's length basis, and no shares change hands.

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