The board at their meeting held on today has approved Related Party Transactions subject to the approval of Members of the company at ensuing AGM
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The board of Vaghani Techno-Build Limited (formerly Emrock Corporation Ltd, Scrip Code 531676) met on September 3, 2025, and approved seven related party transactions (RPTs) with promoter-linked entities for purchase, lease, or development of immovable property, collectively worth up to Rs. 33 crores. Each RPT is declared material and at arm's length, but still requires shareholder approval at the upcoming AGM. The board also approved the Director's Report and Annual Report for FY ending March 31, 2025, and fixed the 31st AGM for Saturday, September 27, 2025, to be held via video conferencing. Additionally, the board approved an alteration to the Main Object Clause of the Memorandum of Association to add hospitality-related businesses (hotels, resorts, party plots, banquets, restaurants, etc.), subject to shareholder approval via postal ballot. M/s Krishna Bhavsar & Associates was appointed as scrutinizer for both the AGM e-voting and the postal ballot process.
The seven promoter-related property transactions worth up to Rs. 33 crores could raise corporate governance concerns among minority shareholders, as they await member approval at the AGM. The proposed MOA amendment signals a strategic diversification into the hospitality and real estate development sector, which could open new revenue streams if approved by shareholders.