Summary of Key Information:
Nature of Filing / Announcement: Correction of inadvertent clerical error in Board Meeting Outcome regarding divestment of material subsidiary
Subsidiary Financial Information:
Name of Material Subsidiary: Shaan Agro Oils & Extractions Private Limited
Financial contribution during last financial year (31st March 2026):
- Total Income: ₹962.94 lakhs (51.13% of company total)
- Net worth: (₹81.87) lakhs (20.47% of company total)
Transaction Details:
- Expected completion date: On or before October 30th, 2026
- Tentative consideration: ₹45,600 (Rupees Forty Five Thousand Six Hundred only)
- Transaction falls outside Scheme of Arrangement
- Compliance with Regulation 37A of SEBI LODR Regulations will be ensured
- Transaction requires approval of shareholders by special resolution
- All requisite regulatory/statutory approvals and compliances will be obtained
- Post completion, Shaan will cease to be a subsidiary of the Company
Rationale for Divestment:
The proposed divestment is undertaken with a view to streamlining the Company's business operations, optimising resources and enabling greater focus on its core business activities.
Use of Proceeds:
The proceeds arising from the proposed sale/disposal will be utilised for the Company's general corporate purposes and other business requirements, as may be determined by the Board.