Board approves assigning Worli land leasehold rights and selling the building on it
Oricon Enterprises' board met on October 30, 2026 and approved assigning, transferring and demising its perpetual leasehold rights in land of about 3511.74 sq.mtrs off Dr. E. Moses Road, Worli, Mumbai.
By ScoutQuest · · 2 min read
- Land Area
- about 3511.74 sq.mtrs
- Board Meeting Date
- October 30, 2026
- Property Location
- off Dr. E. Moses Road, Worli, Mumbai - 400018
What the board approved
- The board accorded its approval to assign, transfer and demise the company's perpetual leasehold rights in land admeasuring about 3511.74 sq.mtrs.
- The land bears Cadastral Survey no. 135 and 4/136 (part) of the Lower Parel division of Mumbai City, and is situated off Dr. E. Moses Road, Worli, Mumbai - 400018.
- The board also accorded its approval to sell and convey the building constructed on that land.
Who can sign the papers
- Mr. Adarsh Somani (DIN: 00192609), Managing Director
- Mr. Bal Mukand Gaggar (DIN: 02324428), Joint Managing Director cum Chief Financial Officer
- Mr. Prashant Mantri (DIN: 02160348), Executive Director
Any of these three is authorised to sign and execute the necessary agreement(s), document(s) and deed(s) in this respect.
What happens next
- The update states that the details required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 will be submitted on the execution of the agreement or occurrence of the event.
- So the board approval is the step that lets the company proceed to paperwork; the transaction itself is to be executed.
How to read this
- The company is moving to part with rights over a piece of land in Worli, Mumbai, along with the building standing on it.
- This is an approval to assign, transfer and demise the leasehold rights and to sell and convey the building, not a completed sale.
- The land area involved is about 3511.74 sq.mtrs. The terms that will let an investor judge the financial impact, including what the company receives, are to be shared when the agreement is executed or the event occurs.
- The board meeting commenced at 11.30 A.M. and concluded at 12.45 P.M.
Also from Oricon Enterprises
Deed of assignment cum conveyance for leasehold land rights and building for Rs. 145 crore
30 Oct 2026
Board meeting on November 04, 2026 to approve unaudited results for the September quarter
28 Oct 2026
Oricon Enterprises Ltd-$ promoter sells 0.62% stake
1 Oct 2026
More numbers
- Land area covered by the leasehold rights to be assigned3511.74 sq.mtrs
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