Board Meeting Details
The Board of Directors meeting was held on July 31, 2026, starting at 04:00 p.m. and concluding at 05:00 p.m.
Key Decision Approved
The Board considered and approved the proposal for investment by the Company in Puja Casa A Limited, UK, a company incorporated outside India. The investment will be made by way of subscription/acquisition of securities aggregating up to GBP 4.4 Million (Four Million Four Hundred Thousand Pounds Sterling Only), in one or more tranches. The purpose is to make Puja Casa A Limited a wholly-owned subsidiary of the Company, subject to compliance with applicable provisions of law and requisite approvals.
Target Company Details
Name: Puja Casa A Limited (Company Number: 10031586)
Financial Position: Total Assets as on March 31, 2026: GBP 92,60,447
Historical Turnover:
- FY 2025-26: Nil
- FY 2024-25: Nil
- FY 2023-24: Nil
Business Activities: Development of Building projects, Construction of domestic buildings, Buying and Selling of own real estate
Incorporation Details: Incorporated on February 29, 2016 as a private company limited by shares at the Registrar of Companies for England and Wales (formerly known as 2 Dunraven Street LTD)
Geographic Presence: England, United Kingdom
Related Party Transaction Details
Puja Casa A Limited, UK is a foreign entity owned by M/s Pooja Construction Limited, UK, which in turn is owned by Mr. Vashu Bhagnani, who is also a promoter of Vashu Bhagnani Industries Limited. Hence, Puja Casa A Limited is considered a related party owing to the common promoter relationship. The proposed investment is being undertaken on an arm's length basis.
Industry Classification
The target entity belongs to the Real Estate industry.
Purpose and Impact
The acquisition is intended to streamline group structure, enhance operational efficiencies, and facilitate business expansion in overseas markets. The target company is engaged in a similar line of business as the promoter group.
Transaction Structure
Consideration: Cash Consideration
Percentage of Shareholding: 100% shareholding/control to be acquired
Completion Timeline: Within FY 2026-27
Government Approvals
Not Applicable (as stated in the disclosure)
Additional Information
Company CIN: L68100MH1986PLC040559
Disclosure made under amended Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read along with SEBI Master circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, as amended.
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