Board accords consent for sale of 17.92-acre immovable property for Rs. 2,15,04,000

Board met on 06.10.2026 and accorded consent for the sale of the company's immovable property — 17.92 Acres at K Krishnapuram Village, Palladam Taluk, Tiruppur District — for ₹2,15,04,000 (Rupees Two Crore Fifteen Lakh Four Thousand only).

Tue 6 Oct 2026

Sale Consideration

₹2,15,04,000 (Rupees Two Crore Fifteen Lakh Four Thousand only)

Property Sold

17.92 Acres at K Krishnapuram Village, Palladam Taluk, Tiruppur District

Buyer

M/s Vanam Realty and Farmlands Private Limited, a related party

The company informed the exchanges of the outcome of its board meeting held on 06.10.2026, which commenced at 11.15 A.M. and concluded at 11.45 A.M. The board accorded its consent for the sale of an immovable property of the company, and the certified true copies of the Audit Committee and board resolutions were enclosed.

What is being sold

• Survey numbers 124/1B, 124/2, 124/3 and 123/2B
• 17.92 Acres at K Krishnapuram Village, Palladam Taluk, Tiruppur District
• Consideration: ₹2,15,04,000/- (Rupees Two Crore Fifteen Lakh Four Thousand only)
• Buyer: M/s Vanam Realty and Farmlands Private Limited

Who cleared it and how

The Audit Committee, at its meeting on 06.10.2026, took note of the proposal for sale of the property and, after considering the particulars of the asset, market value, proposed consideration, commercial rationale and other relevant details placed before it, recommended the proposed disposal to the board.

The board then accorded its consent for the sale, to be undertaken on such terms and conditions as may be finalised by the authorised officials of the company.

Related party angle

The resolution records that the purchaser is a related party of the company, and therefore the transaction is subject to the applicable provisions relating to related party transactions, including obtaining such prior approvals as may be required under applicable law.

Approval thresholds

The resolutions note that the proposed disposal does not constitute the sale, lease or disposal of the whole or substantially the whole of the undertaking of the company within the meaning of Section 180(1)(a) of the Companies Act, 2013, and accordingly approval of the members by way of special resolution under that section is not required, subject to verification of the applicable statutory thresholds and other relevant facts.

Authority given

Mr. P. Palaniappan (DIN - 01577805), Managing Director, is authorised to negotiate and finalise the terms and conditions of the transaction, execute the sale agreement, conveyance deed, transfer documents and other agreements, and to receive the sale consideration on behalf of the company. He is also authorised to make the necessary updates, disclosures and intimations with the Registrar of Companies, stock exchanges and other regulatory authorities.

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