Sale/disposal of Land of the Company pursuant to provisions of Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A(1) of SEBI(LODR) Regulations, 2015.
Price
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Awaiting price reaction for this filing.
Neelkanth Limited's board, at a meeting on June 2, 2025, approved the sale of a plot of land in Village Kundli, Sonepat, Haryana (2 Kanal 12 Marle) to T Bhimjyani Warehousing Cold Chain Private Ltd, a warehousing and cold storage company based in Mumbai. No sale consideration has been received yet, and definitive documents are yet to be signed. The transaction is not a related party deal and is outside any scheme of arrangement. The company has also approved a postal ballot notice to seek shareholder approval via special resolution, with a scrutinizer appointed for the e-voting process. The land does not contribute to the company's turnover or net worth, indicating it is a non-core, idle asset.
This is a non-core asset sale with no impact on revenue or net worth, so it is unlikely to materially affect business operations. Shareholders will get to vote on the disposal via postal ballot; positive impact depends on the sale proceeds ultimately realised, which have not been disclosed.