Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosures Requirements) Regulation, 2015 and other applicable provisions, we hereby inform ....
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The board of Alfavision Overseas (India) Ltd, at its meeting on March 5, 2026, approved an amended lease agreement covering 220 acres of agricultural land across seven separate agreements with the Promoter and Promoter Group entities. The land is located in Village Saras, Tehsil Icchawar, District Sehore, Madhya Pradesh, and has been leased for a 5-year term. Total lease deposit across the agreements is approximately Rs. 111.35 crore. Profit from the leased land will be shared in a 60:40 ratio between the company (lessee) and the lessors. All other terms of the original lease remain unchanged.
This is a related-party transaction with the Promoter Group, which may raise corporate governance concerns for minority shareholders given the size of the lease deposit (over Rs. 111 crore) and the profit-sharing arrangement favoring lessors at 40%. Investors should watch for further disclosures on the business use of this land and its impact on company financials.