Key Transaction Approved
The Board considered and approved a Material Related Party Transaction for the acquisition of the Copyright and Intellectual Property (IP) portfolio of DEFIB INSTITUTE OF HEALTH SOLUTIONS LLP (LLPIN: AAS-7091).
Transaction Details
- Structure: Acquisition/assignment of identified Copyright and IP portfolio only. Specifically does not involve acquisition of the entire business undertaking or a slump-sale acquisition.
- Consideration: Total consideration shall not exceed ₹10 Crores (Rupees Ten Crores only), based on an independent valuation of the identified IP assets and associated rights.
- Funding Mode: Consideration to be funded from proceeds of the Company's Rights Issue, subject to compliance with applicable provisions and objects specified in the Rights Issue documents.
- Regulatory Status: Classified as a Material Related Party Transaction, requiring compliance with Companies Act, 2013 and Regulation 23 of SEBI Listing Regulations, including obtaining shareholder approval if applicable.
- Documentation: Draft Copyright & IP Assignment Agreement, valuation report, and material terms were reviewed and recommended by the Audit Committee prior to Board approval.
Meeting Details
The original agenda included consideration of a Material Related Party Transaction with Navahmedi Solution Private Limited for acquisition of its business undertaking via slump sale. However, the Board unanimously revised the scope and structure to the current transaction involving DEFIB INSTITUTE OF HEALTH SOLUTIONS LLP's IP portfolio.