Indo National Ltd Signs MoA for Distributor Cessation & Settlement

Indo National Limited has executed a Memorandum of Agreement (MoA) with Radiohms Agencies, RAL Consumer Products Limited (Distributors), and Rajendra Prasad Khaitan (RPK). The MoA confirms the cessation of Distributors as authorized wholesale distributors for Bihar, West Bengal, and North-Eastern States, effective September 26, 2024. It also includes the settlement of inter-se payables, with Indo National Limited paying a net sum of ₹2,35,60,956 (₹2.36 Crore). RPK, a promoter group member, and the Distributors have also agreed to non-compete and non-solicit obligations. The transaction is conducted on an arm's length basis.