Pradeep Metals revised its disclosure regarding the lease of land in Nagpur for a greenfield manufacturing facility, revealing that Mr. Pradeep Goyal, Chairman & Managing Director, is also a shareholder in the lessor entity. The company executed an assignment deed on June 16, 2026, with Dhanlabh Engineering Works Private Limited to lease 33,040.00 square meters of land at Plot No. C-234 & C-234 / Part in Butibori Industrial Area. The total consideration for the lease is ₹14,00,00,000, aimed at enhancing production capabilities for precision-engineered defense components.

The initial disclosure identified Mrs. Neeru Goyal, a Non-Executive Promoter Director, as a director and shareholder in Dhanlabh Engineering Works Private Limited. The revised intimation to BSE Limited confirms that Mr. Pradeep Goyal is interested as a shareholder in the same entity. Consequently, the transaction remains classified as a related party transaction involving the promoter group.

The company stated that the deal was conducted in the ordinary course of business at arm's length. The valuation was determined based on an independent valuation report, and the transaction has been approved by the Audit Committee. No special rights, such as the appointment of directors or restrictions on capital structure, were included in the agreement terms.

Key Details of the Lease Agreement

Pradeep Metals Limited shareholders have approved the amalgamation of Nami Capital Private Limited with the company. The resolution was passed with a 99.9999% majority in favour, with only 20 votes against. The scheme is subject to the final orders of the National Company Law Tribunal (NCLT).

The meeting was convened by the NCLT on June 12, 2026, and held through video conferencing. Ms. Nina Lath Gupta chaired the proceedings, while CS Shweta Gokarn served as the Scrutinizer. The meeting commenced at 5:00 P.M. IST and concluded at 5:30 P.M. IST.

Remote e-voting facilities were provided by National Securities Depository Limited (NSDL) from June 9, 2026, to June 11, 2026. A total of 48 shareholders attended the meeting through video conferencing, comprising 3 from the promoter and promoter group and 45 from the public. The record date for determining shareholder eligibility was June 5, 2026, with a total of 6,157 shareholders on record.

Mr. Abhishek Joshi, Company Secretary and Compliance Officer of Pradeep Metals Limited, briefed the attendees on the rationale and strategic benefits of the amalgamation. He outlined the salient features of the scheme and invited queries from the shareholders. No queries were raised during the discussion session.

The resolution to consider and approve the Scheme of Amalgamation was the only item on the agenda. The e-voting results and the consolidated Scrutinizer's Report will be disseminated to the stock exchanges and hosted on the company's website and the NSDL platform.

Shareholder Attendance

Resolution Details