Transaction Details
The company entered into a Memorandum of Understanding dated March 06, 2026, with M/s. Elegant Floriculture & Agrotech (India) Limited for the proposed acquisition of land. The land is situated at Gat No. 358, Village Mouje Kashal, Taluka Maval, District Pune 412106, Maharashtra, India, admeasuring 49,100 square meters.
Financial Details
An aggregate advance payment of ₹2,85,00,000 (₹2.85 crore) was made towards the proposed acquisition. The payment was remitted in 10 tranches, with the last tranche paid on June 06, 2026.
Purpose of Acquisition
The land acquisition is intended for the development of a naturopathy centre and a holistic rejuvenation centre. The project will include cultivation of medicinal plant species with a focus on organic and herb-based wellness and agro-tourism, aimed at promoting preventive healthcare.
Reason for Delayed Disclosure
The disclosure of the transaction was not made within the prescribed timeline due to an oversight and omission. The company states it took immediate steps to make the necessary disclosure once the omission came to their notice.