Pursuant to the Shareholders approval received in the AGM dated 28-09-2025, the Board of Directors in their meeting held today has approved the draft of lease and rent agreement to be entered ....
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The Board of Directors of My Money Securities Ltd, at its meeting held on January 29, 2026, approved a draft Lease and Rent Agreement with related parties, namely Sanjai Seth (Promoter/Director) and Renu Seth (wife of Promoter/Director). The deal involves a security deposit of Rs. 1 crore and a monthly rent of Rs. 50,000 for a period of 11 months. Shareholders had already approved this transaction at the AGM held on September 28, 2025. Managing Director Mr. Vikas Seth has been authorized to execute the agreement. Promoter Sanjai Seth holds 30,53,600 shares in the company, while Renu Seth holds no shares.
This is a related-party transaction that received prior shareholder approval, so no fresh vote is needed. The Rs. 1 crore security deposit is a significant outflow from the company, though the ongoing rent of Rs. 50,000 per month is modest. Minority shareholders should note that company funds are being used for a transaction benefiting the promoter group.