Summary of Key Information:
Nature of Filing / Announcement: Outcome of Board Meeting - Sale of Investment/Exit from Joint Venture
Date of Board Meeting / Approval: 1st October, 2026
Meeting Duration: Commenced at 2:45 PM and concluded at 3:15 PM
Corporate Actions:
The Board of Directors approved the sale of the company's investment and exit from the joint venture arrangement in Aircom Remsons Automotive Private Limited (ARAPL).
Transaction Details:
- Percentage of shareholding sold: 26%
- Number of shares sold: 52,000 Equity Shares
- Face value per share: ₹10
- Consideration received: Cash consideration of ₹5,20,000
- Date of agreement: 1st October, 2026
- Expected completion date: By 31st October, 2026 (upon fulfilment of conditions precedent and closing requirements)
Financial Impact of the JV (Last Financial Year):
- Turnover contribution: ₹0.00 lakh (0.00%)
- Net worth contribution: -₹2.52 lakh (0.00%)
Buyer Information:
- Name: Aircom Group India Private Limited
- Corporate Identity Number: U22119MH2023FTC451089
- Relationship: Does not belong to the promoter/promoter group
Regulatory Disclosures:
- The transaction is not a related party transaction
- The transaction does not fall within related party transactions
- The sale is not outside Scheme of Arrangement (Not Applicable)
- Not a slump sale (Not Applicable)
- The transaction is not expected to have any adverse impact on the operations of the Company
Filing Compliance:
Disclosure made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026
Rohit Darji, Company Secretary & Compliance Officer (Membership No: A37077)