Board Approval Details
The Board of Directors of Tirupati Foam Limited approved the sale of surplus land and building at its meeting held on July 20, 2026. The meeting commenced at 3:30 PM and completed at 4:30 PM.
Property Details
The property consists of land admeasuring approximately 9,325 square meters situated at Plot No. 5, Echotech I, Extension Greater Noida Industrial Area, District: Gautam Buddha Nagar, Uttar Pradesh 201308.
Transaction Parties
- Seller: Tirupati Foam Limited ("TFL")
- Proposed Purchaser: Neumann Components Pvt Ltd (CIN: U25202DL2002PTC116011) with registered office at No. 1/22 2nd Floor, Asaf Ali Road, New Delhi, Delhi, India 110002
Transaction Consideration
Total consideration not less than ₹30 crore (Rupees Thirty Crore only) based on valuation report.
Transaction Timeline
The agreement will be executed after approval of shareholders at the upcoming 39th Annual General Meeting. The transaction is proposed to be completed within 6 months upon compliance with all applicable laws.
Business Impact Assessment
The disclosure states that minimal business operations were carried out on the said land and building, and the sale will not have any impact on the business operations of the company. Production has already been suspended and all machinery has been shifted to adjacent Plot 4.
Regulatory Compliance Aspects
The sale does not constitute an undertaking or substantially the whole of the undertaking for the company in terms of Section 180(1)(a) of the Companies Act, 2013. The transaction does not fall within the ambit of Related Party Transactions as the purchaser is not related to the Promoter, Promoter Group or Group Companies of the company.