Aimco Pesticides seeks approval to sell property for ₹4.78 crore
Aimco Pesticides Limited has called for a postal ballot to approve the sale of a Juhu property to promoter director Mrs. Tarlika Pradip Dave for ₹4.77 crore. The transaction, aimed at bolstering working capital, requires shareholder approval as it exceeds 10% of the standalone net worth. E-voting is open from June 24 to July 23, 2026.
*this image is generated using AI for illustrative purposes only.
Aimco Pesticides Limited is seeking shareholder approval to sell a residential property in Mumbai to a promoter director for ₹4,77,60,000, as disclosed in a postal ballot notice dated May 28, 2026. The transaction involves the sale of Flat No 104 on the first floor of Vibhuti Apartment Building at Shanti Road, Off Gandhigram Road, Juhu, to Mrs. Tarlika Pradip Dave, a Promoter and Non-Executive Director of the company. The board approved the proposal on May 28, 2026, based on the recommendation of the Audit Committee, and the company states the deal is intended to support immediate working capital and cash flow requirements.
The proposed transaction requires prior approval from members through an ordinary resolution as the aggregate value amounts to 10% or more of the annual standalone net worth of the company. However, the notice clarifies that the transaction is not considered a "Material Related Party Transaction" under SEBI regulations as it does not exceed 10% of the annual consolidated turnover. The company has obtained a valuation report from a registered valuer to determine the price, which is set at an arm's length basis.
Postal Ballot and E-voting Details
The company has engaged M/s. MUFG Intime India Private Limited to facilitate the remote e-voting process. The voting period commences at 9:00 a.m. IST on Wednesday, June 24, 2026, and concludes at 5:00 p.m. IST on Thursday, July 23, 2026. Shareholders whose names appear in the Register of Members or the Register of Beneficial Owners as on the cut-off date of Friday, June 19, 2026, are eligible to vote.
M/s. SPRS And Co. LLP, Company Secretaries, has been appointed as the scrutinizer to oversee the postal ballot process. The scrutinizer will submit a report to the Chairman not later than two working days from the conclusion of the e-voting. The results will be announced on the company’s website and communicated to the stock exchange immediately thereafter.
Transaction Particulars
The following table outlines the key details of the proposed related party transaction:
| Particulars | Details |
|---|---|
| Related Party | Mrs. Tarlika Pradip Dave (Promoter and Non-Executive Director) |
| Nature of Transaction | Sale of immovable property (Flat No 104, Vibhuti Apartment, Juhu, Mumbai) |
| Transaction Value | ₹4,77,60,000 (excluding government fees or charges) |
| Tenure | One-time nature; valid until property is sold, not exceeding FY 2026-27 |
| Pricing Determination | Based on valuation report from a registered valuer |
| Advance Paid/Received | Nil |
The resolution, if passed by the requisite majority, will be deemed to have been passed on the last date specified for e-voting, July 23, 2026. The notice specifies that the transaction is not in the ordinary course of business.
Historical Stock Returns for Aimco Pesticides
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.50% | +4.11% | -6.19% | -0.92% | -34.99% | -61.32% |
How will the injection of ₹4.77 crore specifically impact Aimco Pesticides' operational liquidity or debt obligations in the upcoming fiscal year?
Will the successful sale of this non-core asset signal the beginning of a broader strategy to divest other real estate holdings to bolster the balance sheet?
How might institutional investors perceive this related-party transaction regarding corporate governance standards during the upcoming e-voting period?
20
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
