Pursuant to Schedule III, read with, the Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform ....
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Neelkanth Limited's Board, at its June 2, 2025 meeting, approved the sale of a parcel of land measuring 2 Kanal and 12 Marle located at Narela Road, Village Kundli, District Sonepat, Haryana, to T Bhimjyani Warehousing Cold Chain Private Limited. The buyer is an unrelated third party engaged in warehousing and cold storage services and is not connected to the company's promoters or group companies. No consideration has been received yet, and the sale amount and completion date will be finalised after shareholders approve the transaction. The Board also approved a postal ballot notice to seek shareholder approval through a special resolution under Section 180(1)(a) of the Companies Act, 2013, and appointed CS Hemanshu Upadhyay as the scrutiniser for the e-voting process.
Shareholders will get to vote on this land sale via postal ballot. If approved, it could bring in cash from a non-core asset, though the financial benefit depends on the final sale price which is not yet disclosed. The deal carries no related-party risk and is outside any scheme of arrangement.