Modi Rubber Limited has announced the sale of six office units at Barton Centre, Bangalore for ₹3.47 crores. The Board of Directors unanimously approved this strategic asset disposal through a circular resolution on January 21st, 2026.

Transaction Details

The sale involves six office units situated at the prestigious Barton Centre on M.G. Road, Bangalore. The company has entered into an agreement with Nawka Granites Private Limited for the disposal of these commercial properties.

Financial Terms and Conditions

The total sale consideration amounts to ₹3.47 crores (Indian Rupees Three Crores Forty Seven Lacs only). As part of the agreement terms, all applicable stamp duty, registration fees, and taxes will be borne by the buyer, Nawka Granites Private Limited.

Regulatory Compliance

The transaction has been disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that this is not a related party transaction, as the buyer has no shareholding in Modi Rubber Limited and is not connected to the promoter group.

Corporate Governance

The sale was approved through a circular resolution by the Board of Directors, demonstrating efficient decision-making processes. Company Secretary SK Bajpai signed the disclosure documents, ensuring proper regulatory compliance and transparency with stock exchanges including BSE (Scrip Code: 532432) and NSE (Scrip Code: UNITDSPR).

Modi Rubber Limited has submitted a formal clarification to BSE Limited regarding recent movements in its stock price, confirming that no undisclosed price sensitive information contributed to the trading activity. The company's response addresses inquiries from BSE Surveillance about unusual price movements in its shares.

Regulatory Compliance Confirmation

In its official communication to BSE Surveillance, the company provided comprehensive assurance regarding its compliance with market regulations. The clarification covers two critical aspects of market integrity:

Price Movement Investigation

The clarification was issued in direct response to BSE Surveillance's inquiry about price movements in Modi Rubber Limited's stock. Such inquiries are standard practice by stock exchanges to ensure market integrity and prevent any potential manipulation or insider trading activities.

The company specifically confirmed that no events, information, or developments occurred that would require intimation to the exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates companies to disclose any material information that could impact their operations or performance.

Insider Trading Assurance

A significant aspect of the company's clarification addresses potential insider trading concerns. Modi Rubber Limited explicitly stated that no promoters, directors, or key managerial personnel were involved in the sale or purchase of company shares during the period under scrutiny.

This assurance is particularly important as it addresses one of the primary concerns regulators have when investigating unusual price movements. The involvement of insiders in trading activities during periods of price volatility often raises red flags about potential misuse of material non-public information.

Market Transparency Commitment

The proactive clarification demonstrates Modi Rubber Limited's commitment to maintaining transparency with market participants and regulatory authorities. By promptly responding to BSE Surveillance's inquiry, the company has reinforced its dedication to proper corporate governance and regulatory compliance.

The formal communication was signed by the company's Head of Legal and Company Secretary, indicating the seriousness with which the management treats regulatory inquiries and market transparency requirements.