Transaction Overview
The Audit Committee and Board of Directors of Bombay Potteries and Tiles Limited approved a proposed Related Party Transaction with M/s. Harshvardhan Construction at their respective meetings held on September 8, 2026. The Board meeting commenced at 02:00 p.m. and concluded at 02:40 p.m.
Transaction Details
The transaction involves either purchase/acquisition or taking on rent/lease of premises from M/s. Harshvardhan Construction, a Related Party. The final nature of the transaction (purchase or lease) will be mutually agreed upon and finalized based on the Company's business and operational requirements.
Transaction Particulars (Annexure A)
- Related Party: M/s. Harshvardhan Construction
- Relationship: Related Party
- Directors/KMPs related: Mr. Manoj Wadhwa and Mr. Harshavardhan Wadhwa
- Purpose: To meet the Company's business, operational and administrative requirements
- Location: Wadhwa 723 Avenue, Office 504, Saug Baug, Marol, Andheri East, Mumbai 400059
- Area: 968 sq. ft.
- Purchase Consideration: ₹3.05 crores (₹3 crores 5 lakhs)
- Rent/Lease Consideration: ₹42.50 lakhs per year
- Lease Tenure: 5 years
- Security Deposit: ₹25 lakhs (if lease option is chosen)
- Maximum Transaction Value: ₹3.25 crores
Transaction Status
- Audit Committee Approval: Obtained
- Board Approval: Obtained
- Shareholders' Approval: To be obtained (if applicable)
- The transaction is stated to be in the ordinary course of business and on an arm's length basis
- Completion is subject to finalization of commercial terms, documentation, and other necessary formalities
Financial Impact
The maximum value of the transaction is quantified at ₹3.25 crores, representing either the purchase price or the total lease value including security deposit.