Global Defence Industries Limited has secured government approval to lease approximately 1,500 acres of land in Maharashtra for setting up a new project. The lease agreement covers land situated at Mouje Haregaon, Taluka Shirampur, District Ahilyanagar, marking a significant step in the company's expansion plans.

The Maharashtra State Farming Corporation Limited, under the Government of Maharashtra Revenue Department, issued a Government Resolution dated September 23, 2026, approving the grant. The disclosure was made to BSE on September 24, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Lease terms and financial structure

The proposed lease arrangement is between Global Defence Industries Limited (GDIL) and the Maharashtra State Farming Corporation. The transaction does not involve any shareholding interest or related party transactions, as the counterparty is a government entity.

Key financial and operational terms of the lease include:

• Lease Area: Approximately 1,500 acres.
• Base Rent: ₹50,000 per acre per annum.
• Escalation Clause: Annual rent escalation of 3%.
• Tenure: Initial lease period of 49 years, renewable for another 49 years subject to prescribed conditions.
• Right of Refusal: GDIL holds a First Right of Refusal for approximately 900 acres within the subject land parcel.

Project scope and compliance

The land is designated for the purpose of setting up and developing the proposed project. Utilisation of the land is restricted to the approved project only. The company must comply with conditions prescribed under the applicable Government Resolution, including provisions relating to sub-lease, transfer, sale, and consequences of breach or non-utilisation.

The company stated that the transaction does not involve the issuance of shares or other securities, nor does it constitute a loan agreement. The details were disclosed in Annexure A of the filing, which outlines the significant terms as required by SEBI circulars updated in January 2026.

Global Defence Industries , formerly known as Nibe Ordnance and Maritime Limited, has scheduled its 41st Annual General Meeting (AGM) for Tuesday, September 29, 2026, at 11:00 am via Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

The meeting will be conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Ministry of Corporate Affairs regulations. Shareholders holding shares as on the cut-off date of Tuesday, September 22, 2026, are eligible to vote. The remote e-voting window opens on Saturday, September 26, 2026, at 9:00 am and closes on Monday, September 28, 2026, at 5:00 pm.

Key dates and timelines

The following dates are critical for shareholder participation and voting eligibility:

AGM agenda

The meeting will take up both ordinary and special business. Under ordinary business, members will consider the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and auditors. The meeting will also consider the re-appointment of Mr. Ganesh Ramesh Nibe (DIN: 02932622) as a director retiring by rotation.

Under special business, shareholders will vote on the appointment of Mr. Ravi Kant (DIN: 09283919) as Whole-time Director for a period of 3 years commencing from February 12, 2026 to February 11, 2029. The resolution also specifies that Mr. Ravi Kant shall not be paid any sitting fees for attending Board or committee meetings. Additionally, the AGM will consider authorising the Board of Directors to borrow funds in excess of the limit specified under Section 180(1)(c) of the Companies Act, 2013.

Participation and documentation

The Notice of AGM and the Annual Report for FY26 will be sent electronically to shareholders who have registered their email addresses with the company, its Registrar and Share Transfer Agent, or their Depository Participants. For members whose email addresses are not registered, a letter will be sent providing a web link to access the AGM notice and Annual Report on the company's website. These documents will also be uploaded on the BSE website.

Members attending the AGM via VC/OAVM will be counted toward the quorum under Section 103 of the Companies Act, 2013. The venue of the meeting shall be deemed to be the registered office of the company at 202, C-Wing, Windfall, Sahar Plaza Complex, J B Nagar, Marol, M. V. Road, Andheri (East), Mumbai. Detailed instructions for accessing the virtual facility will be provided in the AGM notice.