Akg Exim Limited has informed the Exchange regarding Notice of Postal Ballot
AKG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Akg Exim Limited is seeking shareholder approval via postal ballot (e-voting from June 24 to July 23, 2025) for three resolutions: (1) Sale of its registered office property at Unit No. 237 & 238, Tower B, Spazedge, Sector-47, Sohna Road, Gurugram (~1,940 sq ft) to MLH Ventures LLP, a promoter group entity and related party; (2) Approval of this sale as a material related party transaction; and (3) Approval of a subsequent 11-month leaseback of Unit No. 237 (~970 sq ft) from MLH Ventures LLP. The expected sale price is Rs. 196–200 lakhs, based on two independent valuations of Rs. 187 lakhs and Rs. 194 lakhs for the two units combined. The transaction represents about 2.87% of the company's FY 2024-25 turnover, while the leaseback is priced at Rs. 5 lakhs annual rent plus Rs. 5 lakhs lump sum. Mrs. Mahima Goel (Managing Director) is also a Designated Partner of MLH Ventures LLP, and Mr. Rajeev Goel is also interested in the resolutions. The company intends to use sale proceeds to repay existing loans and reduce interest burden.
This is a related party sale-leaseback of the company's registered office with its promoter group entity, which may raise governance concerns for minority shareholders despite arm's length pricing supported by two independent valuations. On the positive side, proceeds are earmarked for debt reduction, which could improve the balance sheet. Shareholders should weigh the operational continuity benefit of the leaseback against the fact that the company will no longer own its office premises and will be paying rent to a related party.