1. Acquisition of Doon Valley Foods Unit and Tripartite Agreement

The Board considered and approved the following actions in response to the Hon'ble High Court of Himachal Pradesh (Shimla) order:

  • Approved acquisition of the adjoining industrial unit of M/s Doon Valley Foods Private Limited, including machinery, industrial land, building, and cold storage, based on a certified valuation report
  • The acquisition is necessary to comply with the High Court order regarding issuance of No Objection Certificate (NOC) by Government of Himachal Pradesh - Department of Industries for change of land use
  • The court directed the company to shift production activities to an alternative site while retaining employment
  • Approved execution of a Tripartite Agreement between Himalaya Food International Limited, Doon Valley Foods Private Limited, and Global Trade USA
  • The agreement facilitates set-off and adjustment of receivables due to Himalaya Food International Limited from Global Trade USA against the purchase consideration of Doon Valley Foods Private Limited
  • Financial outgo for this transaction is strictly capped at ₹100,00,000 (Rupees One Hundred Lakhs Only)
  • Remaining balance consideration will be fully adjusted against dues owed by Global Trade USA

2. Authorization for Asset Sale Execution

  • Mr. Kailash Sharma is appointed and authorized to sign, execute, and submit all Memoranda of Understanding (MOUs), sale agreements, absolute sale deeds/registries, and ancillary conveyancing documents
  • Authorization covers any asset(s) for which No Objection Certificates (NOCs) have been duly issued by lender banks
  • Bank NOCs are issued upon payment/settlement of the balance amount of ₹21.50 Crores
  • This authorization is granted due to physical absence of Chairman and Managing Director Mr. Man Mohan Malik

3. Authorization for Annual Reporting and Regulatory Compliance

  • Board and Key Managerial Personnel (KMP) authorized to finalize, sign, execute, and file Annual Report, Directors' Report, financial statements, and all related annexures
  • Filing authorization includes submission to Registrar of Companies (ROC), Securities and Exchange Board of India (SEBI), Stock Exchanges, and all relevant statutory/regulatory authorities
  • Authorization covers the financial year ending March 2026
  • Any Director or Company Secretary authorized to issue certified true copies of resolutions to banks, government departments, courts, statutory bodies, or stakeholders as required

Meeting Details

  • Meeting held on 27th August 2026 through video conferencing
  • Commenced at 11:30 AM IST
  • Concluded at 02:25 PM IST
  • Disclosure signed by Megha Saini, Company Secretary