Lords Chloro Alkali Limited has informed the Exchange about Rescission/termination(s)
LORDSCHLO · price
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Lords Chloro Alkali has decided to terminate a lease agreement with Varahalakshmi Infrastructure Private Limited (VIPL) for a 10.4-acre plot in Village Salhawas, Rewari, signed in March 2025. The site, with a planned 40,000 sq ft built-to-suit facility, was intended for a new Chlorinated Paraffin Wax (CPW) manufacturing unit under a 9-year lease at Rs. 3 lakh per month. Termination is driven by three issues: the lessor's failure to obtain Change of Land Use (CLU) approval under the MBIR plan, the company's inability to secure mandatory industrial permits without the CLU, and brackish water on-site that is unfit for CPW operations. VIPL is a related party, as its director Mr. Alok Dhir is a relative of the company's Whole-Time Director Mr. Madhav Dhir.
This is a setback for the company's CPW expansion plans, as the proposed greenfield manufacturing unit will not come up at this location, potentially delaying revenue diversification. The near-term financial hit is limited since construction had not begun, but it highlights execution risk in the company's growth pipeline and may push out capex timelines.