Bombay Potteries Approves Related Party Deal for Premises

Bombay Potteries and Tiles Limited announced that its Audit Committee and Board of Directors have approved a related party transaction with M/s. Harshvardhan Construction. The transaction involves the purchase, acquisition, or lease of premises to meet the company's business and operational expansion needs. The proposed premises are located at Wadhwa 723 Avenue, Office 504, Saug Baug, Marol, Andheri East, Mumbai, with an area of 968 sq. ft. The maximum value of the transaction is set at ₹3.25 Crores, with options for purchase at ₹3.05 Crores or a lease of ₹42.5 Lakhs per year for 5 years, including a ₹25 Lakhs security deposit. The company confirmed the transaction will be on an arm's length basis and in the ordinary course of business, subject to final terms and necessary formalities.