MoU16 Aug 2024, 11:05 pm
Sam Industries Enters into a Lease Agreement with Instakart Services for Nine Years
AI Summary
Sam Industries Limited has entered into a lease agreement with Instakart Services Private Limited on August 16, 2024, for providing warehouse on lease for nine years with a lock-in period of three years. The agreement does not involve any related parties, and there are no shareholdings or significant terms like the right to appoint directors or restrict any change in capital structure. The transaction is not done at 'arm’s length' as there are no related party transactions. The agreement is in compliance with Schedule III of the SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-Pod1/P/CIR//2023/123 dated July 13, 2023.
Key Highlights
- Sam Industries entered into a lease agreement with Instakart Services for nine years.
- The lease agreement includes a lock-in period of three years.
- There are no related parties involved in the agreement.
- No shareholdings or significant terms in the agreement.
- The transaction is not done at 'arm’s length' as there are no related party transactions.