Triochem Products Limited , a Mumbai-based company, has announced plans to sell non-core assets worth Rs 11.81 crore to related parties. The company has issued a postal ballot notice seeking shareholder approval for this transaction.

Key Details of the Proposed Asset Sale

The assets to be sold include:

Transaction Details and Rationale

• The company describes these as non-core assets not currently utilized in operations.
• The sale is based on independent valuation reports to ensure fair market value.
• Proceeds from the sale may be used for new business ventures and strategic initiatives.

Related Party Disclosure

• M/s G Amphray Laboratories is a partnership firm where company directors are partners.
• Mr. Rajesh Ramu Deora is a director of Triochem Products Limited.

Voting Process

• The e-voting period runs from November 13 to December 12.
• Results will be announced on December 13.
• Shareholders can vote through postal ballot or e-voting.

Compliance and Governance

• The transaction complies with the Companies Act, 2013, SEBI Listing Regulations, and other applicable laws.
• The Audit Committee has reviewed and approved the transaction.
• Independent valuation reports have been obtained to ensure fair pricing.

Impact on Operations

The company states that the sale of these non-core assets will have no adverse impact on its operations.

Shareholders are advised to carefully review the postal ballot notice and related documents before casting their votes on this material related party transaction.

Triochem Products Limited , a Mumbai-based company, has announced a significant corporate action involving the sale of its non-core assets. The Board of Directors has approved the sale of immovable properties and plant & machinery valued at Rs 11.81 crore across three separate transactions. This move is aimed at monetizing unused assets and redirecting resources towards new business ventures and strategic initiatives.

Asset Sale Details

The approved sale involves the following transactions:

Key Points of the Transaction

• The assets being sold represent 100% of the total book value but contributed 0% to the company's turnover in the past financial year.
• The company describes these as non-core assets that are currently not utilized in its operations.
• The sale is subject to shareholder approval and is expected to be completed by January 31, 2026.
• The consideration for the proposed sale will be paid in cash.

Related Party Transactions

It's important to note that this sale constitutes a Related Party Transaction under Section 188 of the Companies Act, 2013 and Regulation 23 of the SEBI Listing Regulations:

1. G Amphray Laboratories, the partnership firm purchasing assets worth Rs 8.06 crore, includes directors and promoters of Triochem Products as partners.
2. Rajesh Ramu Deora, who is purchasing a residential flat for Rs 3.75 crore, is a director of the company.

The company has stated that these transactions are being conducted at "arm's length."

Corporate Governance Measures

In light of these transactions, the Board has also approved:

1. Amendments to Related Party Transaction policies
2. A postal ballot process with a cut-off date of October 25, 2025

Potential Impact and Rationale

The company has provided the following rationale for the asset sale:

1. Monetization of non-core, unutilized assets
2. Utilization of proceeds for new business ventures and strategic initiatives
3. No adverse impact expected on the company's operations

The Board assures that the transaction complies with the provisions of the Companies Act, 2013, SEBI Listing Regulations, and other applicable laws. No regulatory approvals are required for the proposed transaction.

Investors and stakeholders should note that while this move aims to optimize the company's asset portfolio, the actual impact on Triochem Products' future performance and strategic direction remains to be seen. As always, it is advisable to conduct thorough research and consider multiple factors before making investment decisions.