Pursuant to Regulation 30 of SEBI(LODR) Regulations 2015 Board of directors at its meeting today approved to buy 2 commercial properties in the name of the company. The details are mentioned ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Darshan Orna Ltd's board has approved the purchase of two commercial properties in Ahmedabad for a combined consideration of around ₹82 lakh (Property 1 at Manek Chowk for ₹27 lakh and Property 2 at C.G. Road for ₹55 lakh). Both properties will be bought from members of the promoter/promoter group, making these related party transactions, though the company states they are conducted at arm's length. The funds will come from internal accruals, and the transactions are aimed at business expansion and securing owned office space. The first deal is expected to complete in 15 days and the second within 3 months, subject to regulatory approvals.
This is a small, related-party property acquisition funded entirely from internal cash, so it's unlikely to materially move the stock. However, shareholders should note the deals are with promoters, even though management says pricing is at arm's length — the use of internal accruals means no cash leaves the company to outside parties but does transfer value to insiders.