Company Disclosure under SEBI Listing Regulations

Details of Termination

  • Memorandum of Understanding dated 8th September 2026 with Avadh Foods and Multi Warehouse Private Limited has been terminated
  • Termination effective from 31st October 2026
  • Termination invoked under Clause 21(c) of the MoU
  • Reason for termination: Buyer failed to make payments due under the agreement within stipulated time and did not cure defaults despite notice

Asset Details

  • Sugar undertaking located at Baheri, District Bareilly, Uttar Pradesh
  • Was proposed to be sold as a going concern on a slump sale basis

Current Status and Future Actions

  • The Baheri sugar undertaking continues to be owned by Kesar Enterprises Limited
  • Company will initiate appropriate legal action against the buyer for remedies available under the MoU and in law
  • Company will continue to evaluate options for the undertaking
  • Material developments will be disclosed to the exchange in due course