Board Meeting9 May 2026, 02:31 pm
Nilachal Refractories: Board Approves Asset Sale, Related Party Transaction
AI Summary
The Board of Directors of Nilachal Refractories Ltd approved the proposal for the sale/transfer/disposal of movable fixed assets, including plant and machinery and capital work-in-progress, subject to shareholder approval. This disposal is considered substantially the whole undertaking of the company. The board also approved entering into material related party transactions related to the asset disposal, also subject to approvals. An Extra-Ordinary General Meeting (EGM) is scheduled for May 18, 2026, to seek shareholder approval. The board accepted the resignation of Mr. Vijay Kumar Gupta as Company Secretary & Compliance Officer, effective May 9, 2026.
Key Highlights
- Board approves sale/transfer of company assets, pending shareholder approval.
- Material Related Party Transaction approved, linked to asset disposal.
- EGM scheduled for May 18, 2026, to seek shareholder approval for the transaction.
- Resignation of Company Secretary & Compliance Officer accepted, effective May 9, 2026.
- Maximum aggregate value of related party transaction is ₹2 Crores.