Crest Ventures Limited (CVL) has taken a significant step in expanding its real estate portfolio by signing a Memorandum of Understanding (MoU) with Vensco Projects LLP for a joint development project in Chembur, Mumbai. The announcement outlines plans for an ambitious development spanning approximately 11,000 square meters of amalgamated land.

Project Details

The proposed development, referred to as the 'Chembur Project', is set to be executed under the Development Control and Promotion Regulations (DCPR) 2034, including applicable SRA (Slum Rehabilitation Authority) Regulations. This strategic move by Crest Ventures signals the company's intent to capitalize on Mumbai's real estate landscape.

Key Points of the Agreement

Future Steps and Implications

The MoU represents a preliminary understanding between Crest Ventures and Vensco Projects. As stated in the company's disclosure, the agreement is subject to the execution of definitive agreements and receipt of necessary approvals. Crest Ventures has indicated that it may undertake this project either directly or through a subsidiary or affiliate.

This move aligns with Crest Ventures' strategy to expand its presence in the real estate sector, potentially enhancing its market position and creating value for shareholders. The Chembur area, known for its strategic location and ongoing infrastructure developments, could prove to be a lucrative choice for this joint venture.

Investors and market watchers will be keen to observe how this project unfolds and its potential impact on Crest Ventures' financial performance in the coming quarters. The company has committed to keeping the exchanges informed of further material developments regarding this project.

As the real estate market in Mumbai continues to evolve, particularly with the implementation of DCPR 2034, this joint development initiative could position Crest Ventures favorably in the competitive landscape of urban development projects.

Crest Ventures Limited , a prominent player in the financial services sector, has initiated a postal ballot process to seek shareholder approval for the appointment of Jagdish Mohan Kirpalani as Independent Director. The company announced the postal ballot notice under Regulation 30, with e-voting scheduled from December 31, 2025, to January 29, 2026.

Postal Ballot Process Details

The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facility to all shareholders. The postal ballot notice, dated December 18, 2025, has been dispatched electronically to shareholders whose email addresses are registered with the company.

Director Appointment Details

The postal ballot seeks shareholder approval through a special resolution for the appointment of Jagdish Mohan Kirpalani as Non-Executive, Independent Director. The appointment was initially approved by the board on October 30, 2025, following recommendation from the Nomination and Remuneration Committee.

Professional Background and Expertise

Kirpalani brings nearly four decades of leadership experience across India and international markets. His expertise spans private banking, wealth management, operational transformation, and governance. He holds a Certified Associate degree from the Indian Institute of Bankers and a Bachelor's degree in Commerce from the University of Mumbai.

Throughout his career, Kirpalani has held senior roles at prestigious financial institutions including Standard Chartered Bank, Barclays Bank, Societe Generale, and ING Bank. He has successfully led large-scale business integrations, technology transformations, and financial transitions while embedding strong risk, compliance, and governance frameworks.

Scrutinizer and Compliance

The company has appointed M/s. Rathi & Associates, Practicing Company Secretaries, Mumbai (Unique Identification No. P1988MH011900, Peer Review No. 6391/2025), as the scrutinizer to oversee the e-voting process in a fair and transparent manner.

Shareholder Information

Voting rights will be determined based on the paid-up value of shares registered in shareholders' names as on the cut-off date of December 19, 2025. The postal ballot notice is available on the company's website at www.crest.in , stock exchange websites, and NSDL's e-voting portal at www.evoting.nsdl.com .

Institutional and corporate shareholders are required to send authorization documents to the scrutinizer by January 29, 2026, at 5:00 PM IST. The resolution, if approved, will be deemed passed on the last date of e-voting, January 29, 2026.