Bombay Potteries & Tiles Limited (BSE: 502216) has approved a related-party transaction to acquire or lease premises from M/s. Harshvardhan Construction for up to ₹3.25 crore. The Board of Directors and Audit Committee cleared the deal on September 8, 2026, to support operational expansion.

The proposed transaction involves a 968 sq. ft. office space located at Marol, Andheri East, Mumbai. The company may choose to purchase the property or take it on rent, based on final commercial terms.

Transaction Details

The deal requires shareholder approval as per SEBI LODR Regulations. The maximum value of the transaction is capped at ₹3.25 crore, comprising the purchase consideration or the aggregate lease costs including security deposit.

Related Party Connections

The transaction involves directors with ties to the counterparty. Mr. Manoj Wadhwa and Mr. Harshavardhan Wadhwa are identified as directors related to M/s. Harshvardhan Construction.

Regulatory Compliance

Bombay Potteries confirmed the deal is on an arm's length basis and in the ordinary course of business. The company stated that terms are fair and commercially reasonable. Shareholder approval is required to finalize the transaction.

Bombay Potteries & Tiles Limited (BPTL) has accepted the resignation of Mr. Rakesh Shivkumar Wadhera from his position as an Independent Director on the Governing Board.

The resignation is effective from September 7, 2026. The company cited personal reasons for the departure.

Regulatory Disclosure

The company made the disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This was read with Schedule III of the SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Mr. Wadhera confirmed that there are no material reasons for his resignation other than those specified in his letter. The company stated that the detailed reason for resignation and the confirmation letter are available on its website.

Board Composition Update

Mr. Wadhera’s departure marks a change in the independent director composition of the board. The company has not yet announced a replacement candidate in this filing.