Main Disclosure – Asset Sale Details
Asset Description
- Asset Type: Piece and parcel of land with buildings
- Location: Plot No. 14, Plot 15, and Plot No. 16 in "Auto Nagar" of Bagh Hayathnagar, Ranga Reddy District, Hyderabad, Telangana
- Area: 5213.40 Sq. Yards (4359.03 Sq. Mtrs, approximately 1.07 acres)
- Classification: Non-core assets
Transaction Details
- Agreement Date: 20th July 2026
- Total Sale Consideration: ₹12,00,00,000 (Rupees Twelve Crores only)
- Advance Received: ₹4,00,00,000 (Rupees Four Crores) received as advance
- Sale Deed Status: Company has not yet executed any sale deed/agreement
Counterparty/Buyer Information
- Buyer Name: Vega Elite LLP (ACW-3745)
- Buyer Type: Limited Liability Partnership
- Relationship Status: Unrelated third party buyer, not belonging to or related to any promoter/promoter group/group companies
Transaction Characteristics
- Related Party Status: No, the transaction does not fall within the purview of related party transaction
- Scheme of Arrangement: The sale is outside Scheme of Arrangement
- Turnover/Net Worth Contribution: Not applicable as it involves sale of non-core assets
Approvals and Compliance
- Shareholder Approval: Special Resolution passed under Section 180(1)(a) of the Companies Act, 2013 read with relevant Rules and Regulation 37A of SEBI LODR Regulations
- Approval Date: October 28, 2023, through postal ballot process
- Voting Results: Votes cast by public shareholders in favor exceeded votes against the resolution
- Regulatory References: SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Timeline and Completion
- Expected Completion Date: On or before 30th September, 2026
- Completion Conditions: Subject to requisite consents, approvals and other procedures
Other Updates
No other disclosures are present in the document.