Board Meeting13 Apr 2026, 04:41 pm
Asian Warehousing Board Approves ₹15 Cr Loan from CMD, Seeks Shareholder Nod
AI Summary
Asian Warehousing Ltd's Board of Directors, in a meeting on April 13, 2026, approved entering into a Material Related Party Transaction. The company plans to avail an unsecured loan of up to ₹15 Crores from its Chairman and Managing Director, Mr. Bhavik Bhimjyani, during FY 2026-27 to meet funding requirements, including general corporate, administrative, and operational expenses. This transaction is subject to shareholder approval via a postal ballot, for which Mr. Hemanshu Upadhyay has been appointed as Scrutinizer. The loan will be repayable upon demand with annual interest and is considered an arm's length transaction.
Key Highlights
- Board approved a Material Related Party Transaction for a loan.
- Company to avail up to ₹15 Cr unsecured loan from CMD, Mr. Bhavik Bhimjyani.
- Loan is for FY26-27 funding, including general corporate and operational expenses.
- Transaction requires shareholder approval via postal ballot.
- Loan is repayable on demand with annual interest.