Binny Mills Promoters Sign Family Settlement Agreement

Binny Mills Limited has been informed by some of its promoters and their relatives about the execution of a Memorandum recording a prior oral Family Arrangement (MoFA) dated June 20, 2026. The company is not a party to this agreement. The MoFA aims to ensure continuity, harmony, and stability within the family regarding shareholding, control, and management participation in Binny Mills. Key terms include the transfer of aggregate equity and preference shareholding from the VRV Group to the Sisters, resignation of VRV Group directors, and the Sisters' right to nominate the Managing Director. The Sisters will also not object to the assignment of the 'Binny' trademark to Mr. V.R. Venkataachalam, subject to approvals.