Joint Venture13 Feb 2026, 03:43 pm
Cryogenic Ogs Ltd Secures 30-Year Land Usage for Commercial Operations
AI Summary
Cryogenic Ogs Ltd has executed a Leave and License Agreement on 13th February, 2026 with Mrs. Kiranben Nileshbhai Patel, Mr. Nilesh Natvarlal Patel and Mr. Dhairya Patel to take the premises situated at Navi Jithardi, Taluka Karjan, District Vadodara, Gujarat on lease basis for a period of 30 years, effective from 1st February, 2026. The agreement does not result in any change in management or control of the listed entity and imposes a financial obligation towards occupation charges aggregating approximately INR 23,59,728 per annum subject to annual escalation of 8% over the tenure of 30 years.
Key Highlights
- Cryogenic Ogs Ltd secures long-term land usage for commercial operations and expansion.
- 30-year Leave and Licence arrangement effective from 1st February 2026.
- Premises bear Survey Nos. 102, 103 and 104 and admeasuring 3,52,776.4 sq. ft.
- Occupation charges at INR 6 per sq. meter per month, amounting to INR 23,59,728 per annum with annual escalation of 8%.
- Lock-in period of 30 years subject to agreed termination clauses.