Madhusudan Industries sold its office premises in Ahmedabad for ₹2.25 crore on September 17, 2026. The company executed the sale deed for the property located at Madhusudan House, Navrangpura.

The transaction was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also references SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Transaction Details

The buyers are Divyaben Gandhi and Payal Mehlukumar Gandhi. The company confirmed that the buyers do not hold any shares in Madhusudan Industries. Furthermore, the parties are not related to the promoter group or group companies in any manner.

Regulatory Compliance

Mitushi Shah, Company Secretary and Compliance Officer, signed the disclosure. The company stated that the transaction does not fall within related party transactions. No special rights, such as the right to appoint directors or restrict changes in capital structure, were attached to the agreement.

Shareholders of Madhusudan Industries approved the re-appointment of Daarrpan Shah as an independent director for a second five-year term effective December 30, 2026.

The resolution was passed at the company’s annual general meeting held on September 9, 2026. The appointment aligns with Regulation 30 of the SEBI (LODR) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Director Profile

Daarrpan Shah holds an MBA in Financial Planning and Insurance. He brings over 19 years of experience in financial management and insurance consulting. His expertise includes project costing, profit projections, and securing business funding for small industries.

The company confirmed that Shah has no relationship with other directors and is not debarred from holding office by SEBI or any other authority.