Board approves proposal to sell immovable property in Indore; independent director's 5-year term noted as complete

The Board considered and approved the sale of the Company's immovable property at 181, Jaora Compound, Indore (MP) 452001.

Thu 1 Oct 2026

Property contribution to turnover/revenue/income (last FY)

NIL

Property contribution to net worth (last FY)

NIL

Independent Director term completed

second consecutive term of 5 years

Independent Director retirement effective

end of the day of 30th September, 2026

Two matters were placed before the Board at its meeting held on Thursday, 01st October, 2026.

Sale of an immovable property approved

• The Board considered and approved the sale of the Company's immovable property situated at 181, Jaora Compound, Indore (MP) 452001.
• No agreement for sale has been entered into as on date. The update states that further details will be disclosed upon execution of the agreement for sale or completion of the sale process, as applicable.
• The amount and percentage of turnover, revenue or income and net worth contributed by the property during the last financial year is stated as NIL.
• The proposed sale is stated not to be pursuant to or as part of any Scheme of Arrangement. It is also stated not to constitute the sale, lease or disposal of an undertaking or substantially the whole of the undertaking of the Company under Section 180(1)(a) of the Companies Act, 2013.
• The proposed transaction is stated not to be a slump sale.

How to read this

The approval is for a proposal to sell a specific property. The update records that the sale process has not yet reached the stage of a signed agreement, and that the property's contribution to the Company's turnover, revenue or income and net worth in the last financial year was NIL. This is the Board-level decision point; the disclosure accompanying the sale itself, whenever it happens, is where the commercial terms would appear.

Independent Director's term completes

• Mr. Ramesh Agrawal (DIN: 07599354) retired from the office of Independent Director of the Company with effect from the end of the day of 30th September, 2026.
• The reason recorded is his successful completion of a second consecutive term of 5 years as an Independent Director of the Company.
• The Board of Directors and the Management placed on record their appreciation for the contributions made by him during his association with the Company over the years.

What this disclosure is

This is the outcome of a Board meeting, covering one approval (the proposed sale of the property) and one item taken on record (the completion of an Independent Director's second term). Both are factual updates about decisions taken at the meeting.

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