Alka India Ltd. Enters Loan Agreement with Director
Mumbai, March 24, 2026 – Alka India Ltd. announced today that it has entered into a loan agreement with Non-Executive Director Mr. Jatinbhai Ramanbhai Patel. The agreement, dated March 23, 2026, involves an unsecured loan of Rs. 100,00,00,000 (Rupees One Hundred Crores), which is convertible into equity shares at a later date.The loan was approved by the company’s board of directors on February 27, 2026, and subsequently ratified by shareholders in the Annual General Meeting held on March 23, 2026. The loan will be disbursed in tranches as mutually agreed through banking channels.
Mr. Patel holds 2,50,000 shares, representing Rs. 2,50,000 (Rupees Two Lakhs Fifty Thousand Only) in the company and is a promoter and director with a 5.00% stake in Alka India Ltd. The transaction qualifies as a related party transaction and is not at arm’s length due to the interest-free nature of the loan.
Below is a summary of the loan agreement details:
| Particulars | Details |
|---|---|
| Names of the Parties | Alka India Limited (Borrower) and Mr. Jatinbhai Ramanbhai Patel (Lender) |
| Purpose of Agreement | To borrow unsecured loan convertible into equity shares |
| Loan Amount | Rs. 100,00,00,000 (Rupees One Hundred Crores) |
| Shareholding | 2,50,000 shares representing Rs. 2,50,000 (Rupees Two Lakhs Fifty Thousand Only) |
| Relationship | Mr. Patel is a Promoter and Director holding 5.00% of the equity share capital |
| Related Party Transaction | Yes, the transaction falls within the purview of related party transactions. |
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.