Tirupati Starch board approves sale of Indore immovable property
- Board approved sale of immovable property at 181, Jaora Compound, Indore
- Property contributed NIL to revenue and net worth in last financial year
- No sale agreement executed; further details pending completion of process
- Ramesh Agrawal ceased as Independent Director after completing second term
*this image is generated using AI for illustrative purposes only.
Tirupati Starch & Chemicals Limited has approved the sale of its immovable property located at 181, Jaora Compound, Indore, Madhya Pradesh. The decision was taken during a board meeting held on October 1, 2026, marking a strategic move to dispose of non-core assets.
The company stated that no agreement for the sale has been entered into as of the date of the announcement. Consequently, details regarding the consideration received, buyer identities, and the expected date of completion are currently unavailable. Further disclosures will be made upon the execution of the sale agreement or completion of the disposal process.
Regulatory and transactional status
The proposed transaction is not part of any scheme of arrangement and does not constitute the sale, lease, or disposal of an undertaking under Section 180(1)(a) of the Companies Act, 2013. The company confirmed that the asset contributed NIL to turnover, revenue, income, or net worth during the last financial year.
Additionally, the transaction is not classified as a slump sale. The board clarified that related party disclosures will be provided once specific details about the buyers are finalized.
Board composition update
In a separate resolution, the board noted the cessation of Mr. Ramesh Agrawal from the role of Independent Director. His tenure concluded with effect from the end of the day on September 30, 2026, following the completion of his second consecutive term of five years.
| Particular | Details |
|---|---|
| Director Name | Mr. Ramesh Agrawal |
| DIN | 07599354 |
| Reason for Cessation | Completion of second consecutive term (5 years) |
| Effective Date | September 30, 2026 |
The board placed on record its appreciation for Mr. Agrawal's contributions during his association with the company. The meeting commenced at 3:00 pm and concluded at 3:40 pm at the registered office in Indore.
Historical Stock Returns for Tirupati Starch & Chemicals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.47% | -3.36% | -13.13% | -2.15% | -32.16% | +139.11% |
How will the proceeds from the Indore property sale be allocated, and will they fund future capital expenditures or debt reduction?
Who are the potential buyers for the Jaora Compound asset, and what valuation metrics will determine the final sale price?
Will Tirupati Starch & Chemicals appoint a new Independent Director to fill the vacancy left by Mr. Ramesh Agrawal to maintain board compliance?
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