The Board of Directors in its meeting held on 28th May, 2026 has approved and taken on records the entering into of a Memorandum of Understanding cum Loan-lease agreement with PandJ Cretechem ....
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Vasundhara Rasayans Ltd's Board has approved entering into a MoU cum Loan-Lease Agreement with its Holding Company, PandJ Cretechem Private Limited, for manufacturing Active Pharmaceutical Ingredients (APIs). This arrangement will use PandJ Cretechem's facility at Dahej SEZ, Gujarat. The move follows receipt of a termination notice for the company's previous Leave and License Agreement for its Mahad, Maharashtra manufacturing facility. The Audit Committee has approved and recommended this transaction, which qualifies as a related party transaction but is conducted on arm's length basis. No change in management or control is expected since the counterparty is already the holding company.
Shareholders should note this represents a strategic shift where the company will rely on its holding company's manufacturing infrastructure rather than operating its own facility. The transaction is classified as a related party transaction but has arm's length pricing. No dilution or change in control is involved.