Key Quantitative Figures
The assignment deed involves a total consideration of ₹14,00,00,000 (Rupees Fourteen Crores only) for the lease of commercial immovable property.
Parties Involved
The agreement is executed with Dhanlabh Engineering Works Private Limited. Mr. Pradeep Goyal, Chairman & Managing Director of Pradeep Metals Limited, is interested as a shareholder in Dhanlabh Engineering Works Private Limited. Mrs. Neeru Goyal, Non-Executive Promoter Director of the Company, is also interested as Shareholder/Director in Dhanlabh Engineering Works Private Limited.
Purpose and Rationale
The purpose of entering into the agreement is for lease of commercial immovable property for setting up a greenfield manufacturing facility for precision-engineered defense components.
Related Party Transaction Status
The transaction involves related parties but is stated to be in the ordinary course of business and at arm's length, based on valuation reports from independent valuers and approved by the Audit Committee.
Additional Details
No shareholding exists in the entity with whom the agreement is executed. No significant special rights like right to appoint directors, first right to share subscription, or right to restrict changes in capital structure are applicable. The transaction does not involve issuance of shares or any termination/amendment of agreement.