Neo Infracon Invests ₹54,000 in Rubberwala & Neo Venture

Neo Infracon Limited's Board of Directors has approved an investment of ₹54,000 in the partnership firm "M/S. Rubberwala & Neo Venture". This investment will grant Neo Infracon a 54% share, making it a partner in the firm for Real Estate Business. The transaction is subject to applicable laws and approvals. The Board also authorized a Director to execute necessary documents. This investment is classified as a Related Party Transaction as promoters hold a 70% interest in the target firm prior to this deal. The company stated the terms are arm's length and in the ordinary course of business, not prejudicial to minority shareholders. Rubberwala & Neo Venture, established in 2008, is a Special Purpose Vehicle for redeveloping a property in Tardeo, Mumbai, and has no recorded turnover to date.