AMJ LAND HOLDINGS LIMITED
Key Resolution Details
The Company seeks shareholder approval through remote e-voting for:
- Continuation and modification of existing revolving Inter-Corporate Deposit(s)/Loan(s) arrangement with Biodegradable Products India Limited (BPIL)
- Creation of joint mortgage security over BPIL's immovable property to secure the Company's ICD exposure
- Transaction period: Five financial years from FY 2026-27 to FY 2030-31
Financial Parameters
- Principal Amount Limit: Aggregate outstanding shall not exceed ₹40 Crores at any point in time
- Interest Rate: 9% to 12% per annum as determined by the Board
- Repayment Terms: Each ICD repayable within 6 years from disbursement date
- Interest Payment: Annually within three months from financial year close
- Overall Security Cap: ₹200 Crores collectively for all mortgagees (including principal, interest, costs, charges, expenses)
Security Arrangement
- Property Details: Survey No. 298, Village Chande, Taluka Mulshi, District Pune, Maharashtra
- Area: 92,800 square metres (approximately 22.93 acres)
- Current Valuation: ₹152.81 Crores (Distress Value: ₹122.25 Crores) per valuation report dated 23rd July, 2026 by A. D. Joshi Chartered Engineers & Valuers LLP
- Mortgage Type: Joint mortgage with pari passu ranking among lenders
- Other Mortgagees: 3P Land Holdings Limited, Thacker and Company Limited, Chem Mach Private Limited, Suma Commercial Private Limited
- Lead Mortgagee: AMJ Land Holdings Limited
Current Exposure Details (as of 30th June, 2026)
- AMJ Land Holdings: Principal outstanding ₹1,132.62 lakhs, Interest accrued ₹26.11 lakhs
- Other Related Party Lenders:
- 3P Land Holdings Limited: ₹2,198.71 lakhs
- Chem Mach Private Limited: ₹750.00 lakhs
- Suma Commercial Private Limited: ₹250.00 lakhs
- Thacker and Company Limited: ₹1,700.00 lakhs
- Total other lenders: ₹4,898.71 lakhs
Corporate Governance Approvals
- Audit Committee and Board of Directors approved the transaction on 19th September, 2026
- Certificate from Whole-Time Director and CFO confirms transaction is at arm's length and in company's interest
- Previous shareholder approvals obtained:
- Section 186 approval via Postal Ballot (2014)
- Section 185 approval at 55th AGM (2020)
- Existing ICD arrangement approved at 61st AGM (2nd September, 2026)
BPIL Financial Profile (FY 2025-2026)
- Turnover: ₹0.26 lakhs
- Loss After Tax: ₹460.26 lakhs
- Net Worth: Negative ₹3,020.52 lakhs
- No defaults in borrowings during last three financial years
- No NPA classification, wilful defaulter status, or insolvency proceedings
Voting Arrangements
- Cut-off Date: 18th September, 2026
- Remote e-voting Period: 23rd September, 2026 (09:00 AM IST) to 22nd October, 2026 (05:00 PM IST)
- Service Provider: KFin Technologies Limited
- Scrutinizer: Ms. Savita Jyoti, Practicing Company Secretary
- Result Declaration: On or before 24th October, 2026
Material Significance
- Transaction value represents 76.18% of AMJ's annual consolidated turnover
- Represents 260.61% of BPIL's annual consolidated turnover
- Security coverage ratio: 0.60 times at book value, 2.04 times at distress value
- Funds sourced from internal accruals, no additional borrowing required
Purpose and Rationale
- To meet working capital and operational requirements of BPIL
- Enhance security for existing unsecured ICD exposure
- BPIL holds valuable land asset with appreciation potential near Hinjewadi, Pune
- Company holds 27.11% equity stake in BPIL