Navkar Urbanstructure Limited has added the slump sale of its captive Pipe Division to the agenda of its 34th Annual General Meeting. The company seeks shareholder approval for the disposal of Unit-1 to M/s J and M Enterprises for a consideration of ₹1,00,000.

The Board of Directors approved referring the transaction to shareholders at its meeting held on Friday, September 18, 2026. The meeting commenced at 3:00 pm and concluded at 4:30 pm. An addendum to the original AGM notice, dispatched on September 8, 2026, was issued to include this new special resolution item.

Transaction Details

The Board proposes the disposal of Unit-1, located in Gujarat, to M/s J and M Enterprises, a partnership firm based in Sanand, Ahmedabad. The transaction is structured as a slump sale on an 'As Is Where Is' basis.

The aggregate lump-sum consideration of ₹1,00,000 aligns with an independent valuation report issued by an IBBI Registered Valuer based on book metrics up to June 30, 2026. The net worth attributable to Unit-1 stands at ₹9.62 crore, representing approximately 6% of the company's total net worth as of March 31, 2026.

Rationale for Disposal

Unit-1 was established primarily to supply RCC Hume Pipes for sewage pipeline and allied infrastructure works within Gujarat. The company states that these key projects have been successfully or substantially completed. Consequently, there is currently negligible market demand, and the unit is not generating operational revenue or turnover.

UNIT-1 contributed nil revenue during FY25-26. The board evaluated keeping the infrastructure unutilized or relocating the plant configurations as economically unviable. The hiving off aims to optimize operational resource frameworks and unlock better asset utilization at the leased premises.

Regulatory and Governance Aspects

The disposal requires shareholder authorization via a Special Resolution pursuant to Section 180(1)(a) of the Companies Act, 2013. The transaction does not fall under the category of a Related Party Transaction (RPT). None of the promoters, directors, or key managerial personnel have any direct or indirect interest in the purchaser firm.

The filing references Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also cites Section 108 of the Companies Act, 2013, read with Rule 20 of the Companies (Management and Administration) Rules, 2014. Regulations 44 and 47 of the SEBI LODR Regulations govern the e-voting process.

Navkar Urbanstructure has appointed Ms. Riya Gupta as Company Secretary and Compliance Officer, effective September 12, 2026. The Board of Directors approved the appointment during its meeting held on Saturday.

The decision was taken pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board also approved the disclosure details as required under SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Appointment Details

Ms. Gupta holds ACS membership number A80712. She brings over 1.5 years of professional experience in corporate compliance, governance, and secretarial functions. Her profile highlights sound knowledge of corporate laws and regulatory frameworks under the Companies Act.

The appointment aims to support effective corporate governance practices and facilitate seamless compliance with statutory obligations. There are no disclosed relationships between directors regarding this appointment.