NewsOrders & DealsAtal Realtech Seeks Shareholder Approval for ₹49.47 Crore Related Party TransactionAtal Realtech Seeks Shareholder Approval for ₹49.47 Crore Related Party Transaction
Atal Realtech Limited is conducting a postal ballot for shareholder approval of a related party transaction with ABH Developers Private Limited. The transaction involves sub-contracting construction work for a court building in Karanja, Dist. Washim, valued at ₹49.47 crore. This contract represents 51.68% of Atal Realtech's annual consolidated turnover, necessitating shareholder approval due to SEBI regulations. E-voting for shareholders is scheduled from November 27 to December 26.
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Atal Realtech Limited has announced a significant development in its business operations. The company is conducting a postal ballot for shareholders to approve a related party transaction with ABH Developers Private Limited for sub-contracting construction work of a court building at Karanja, Dist. Washim, valued at ₹49.47 crore.
Contract Details
| Aspect | Details |
|---|---|
| Main Contractor | ABH Developers Private Limited |
| Subcontractor | Atal Realtech Limited |
| Project | Construction of Court Building |
| Location | Karanja, Dist. Washim |
| Contract Value | ₹49.47 crore |
Corporate Governance and Transparency
The transaction represents approximately 51.68% of the company's annual consolidated turnover and requires approval as it crosses materiality thresholds under SEBI regulations. In line with regulatory requirements, Atal Realtech has taken steps to ensure transparency and compliance.
Shareholder Approval Process
The related party transaction is subject to shareholder approval through a postal ballot. E-voting is scheduled from November 27 to December 26. This process allows shareholders to have a say in significant business decisions, ensuring their interests are protected.
Financial Implications
The contract represents a substantial revenue opportunity for Atal Realtech in the construction sector. This development indicates that Atal Realtech is actively pursuing growth opportunities while maintaining compliance with regulatory requirements and ensuring shareholder involvement in key decisions.
Historical Stock Returns for Atal Realtech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.02% | -0.62% | -2.78% | +28.24% | +95.63% | +874.19% |
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