Ajwa Fun World & Resort Ltd has announced the sad demise of Mr. Arvind Manubhai Vakil, Independent Director of the company, who passed away on September 21, 2025. The company received intimation about his death from family members on December 13, 2025, and has informed BSE Limited in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Details and Disclosure

The company has provided the following details regarding the demise in its regulatory filing:

Company's Tribute

In its communication to BSE, Ajwa Fun World & Resort Ltd acknowledged Mr. Vakil's significant contribution to the company. The company stated that his long association and vision leadership during his tenure on the Board immensely benefited the organization. His sudden and unexpected passing away has been described as an irreparable loss to the company.

Condolences and Compliance

All directors and employees of the company have conveyed deep sympathy, sorrow, and condolences to Mr. Vakil's family. The company secretary and compliance officer, Kosha Anilbhai Shah, signed the regulatory filing submitted to BSE.

The disclosure confirms that Mr. Vakil did not hold any directorships in other listed entities at the time of his demise. Ajwa Fun World & Resort Ltd has fulfilled its regulatory obligations by providing the required disclosures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ajwa Fun World & Resort Limited, a company known for its amusement park operations, has successfully concluded the sale of two significant land parcels in Baroda, India. The transaction, valued at Rs. 568.59 crore, marks a strategic move for the company following the closure of its amusement park.

Transaction Details

The sale involves two land parcels located in Village Rayantalawadi, Taluka Waghodia, District Baroda:

1. CTS number NA 62 (P): 25,279 square meters
2. CTS number NA 63 (P): 69,973 square meters

The total area of the sold land amounts to 95,252 square meters. Ajwa Fun World has sold these parcels at a rate of Rs. 5,968.37 per square meter, resulting in a total consideration of Rs. 56,85,87,919 (approximately Rs. 568.59 crore).

Buyer and Timeline

The buyer of the land is Godrej Projects Development Limited, a company not affiliated with Ajwa Fun World's promoter or promoter group. The sale agreement was entered into on July 9, 2024, with an expected completion date of July 31, 2025.

Strategic Decision

This land sale is part of Ajwa Fun World's strategic decisions following the closure of its amusement park. The company's Board of Directors had approved the sale proposal in July 2024, setting a minimum value of Rs. 5,968.37 per square meter. The sold land was previously part of the now-closed amusement park and is no longer required for the company's operations.

Impact on Business Operations

In its regulatory filing, Ajwa Fun World stated that this sale will not impact its business operations, as the land is no longer needed after the closure of the amusement park. The company had previously intimated about the park's closure on August 9, 2024.

Regulatory Compliance

The company has complied with the necessary regulatory requirements, including intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ajwa Fun World has confirmed that the transaction does not fall within the purview of related party transactions and is not part of any Scheme of Arrangement.

This land sale represents a significant monetization of assets for Ajwa Fun World & Resort Limited, potentially providing the company with substantial funds for future endeavors or debt reduction.