Laxmi Goldorna House Limited has informed the Exchange about General Updates
LGHL · price
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Awaiting price reaction for this filing.
Laxmi Goldorna House Limited has completed a related party transaction to purchase a 5,099 sq. meter land parcel in Fatehwadi, Ahmedabad from its Managing Director and Promoter, Mr. Jayeshkumar Chinulal Shah. The total consideration is around ₹11.95 crore, comprising ₹11 crore towards land cost and ₹95.51 lakh as reimbursement of expenses paid by the MD to Ahmedabad Municipal Corporation for development plan approvals. The transaction was earlier approved by shareholders through a postal ballot completed in April 2025, with an upper cap of ₹15.99 crore set by the shareholders and audit committee. The actual cost came in well below the approved limit.
This is a related party transaction where the company is buying land from its own promoter, which investors should monitor for fairness of pricing. However, the deal was pre-approved by shareholders and the audit committee, and the final amount is significantly below the approved ceiling, reducing governance concern. The land acquisition could support future business expansion but uses company cash for an asset purchase from an insider.