Pradeep Metals leases land for new defence components plant
PRADPME · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Pradeep Metals has leased land in Butibori Industrial Area from Dhanlabh Engineering Works for Rs 14 crore to set up a greenfield manufacturing facility for precision-engineered defence components. The disclosure is revised to note that CMD Pradeep Goyal and Non-Executive Director Neeru Goyal are shareholders in Dhanlabh, making this a related party transaction. The company states the deal is in the ordinary course of business, at arm's length, and approved by the Audit Committee.
Sets up a new defence components facility; related party nature disclosed, but arm's length pricing and audit committee approval limit governance concerns.