Pradeep Metals revises land lease disclosure, adds director's interest
Pradeep Metals Ltd has issued a revised intimation regarding an assignment deed for a land lease in Butibori Industrial Area. The revision clarifies that Mr. Pradeep Goyal, Chairman & Managing Director, and Mrs. Neeru Goyal, Non-Executive Promoter Director, hold interests as shareholders/directors in Dhanlabh Engineering Works Private Limited, the party leasing the land. The original disclosure on June 16, 2026, inadvertently omitted this detail. The lease is for a commercial immovable property to set up a greenfield manufacturing facility for precision-engineered defense components, with a total consideration of ₹14,00,00,000. The company states the transaction is in the ordinary course of business, at arm's length, based on independent valuations, and approved by the Audit Committee.
Key Highlights
- Pradeep Metals revised its land lease disclosure for a ₹14 Cr deal.
- CMD Pradeep Goyal and Director Neeru Goyal have interests in the lessee.
- The land is for a new defense components manufacturing facility.
- Transaction is deemed arm's length and approved by the Audit Committee.
Price Impact
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