Radaan Mediaworks India Limited has informed the Exchange regarding 'Registration of Cancellation of sale deed and Construction agreement'.
RADAAN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Radaan Mediaworks has officially cancelled a property deal it had signed back in September 2018 with Mrs. R. Radikaa Sarathkumar (the builder). The deal involved purchasing the 3rd floor of a commercial property along with a construction and development agreement. The cancellation was registered on 11th August 2025, following shareholder approval secured through a postal ballot in March 2025. The reason for cancellation is that the builder could not complete construction on time due to COVID-19 disruptions and subsequent economic challenges, which also affected the company's cash flows. This unwinds a roughly 7-year-old property transaction that was tied to a related party.
This is a housekeeping event that removes a stalled asset from the company's books and may free up cash or reduce future construction liabilities. Since it involves a related-party transaction with a director/promoter, investors should look for clarity on any refund or settlement terms, though no material financial impact is explicitly disclosed.