Asian Warehousing Ltd Approves Related Party Leave and License Agreement for Mumbai Office Space
Asian Warehousing Limited has approved entering into a Leave and License Agreement with Mrs. Rekha R Bhimjyani, who is identified as a promoter of the company. The agreement concerns the use of office space located at 508, Dalamal House, Jamnalal Bajaj Marg, Nariman Point, Mumbai 400021, to serve as the Company's registered office.The transaction involves Mrs. Rekha R Bhimjyani, who holds a stake in Asian Warehousing Limited. The agreement is set for an 11-month period, commencing from July 2, 2026.
Key financial and structural details of the Leave and License Agreement are as follows:
| Particulars | Details |
|---|---|
| Counterparty Name | Mrs. Rekha R Bhimjyani |
| Purpose of Agreement | Execution of a Leave and License for office space at 508, Dalamal House, JB Marg, Nariman Point, Mumbai - 400021 |
| Term | 11 months |
| Monthly Fee | ₹ 15,000/- plus applicable taxes |
| Relationship Status | Mrs. Rekha R Bhimjyani is a promoter of the Company. |
| Shareholding in Company | Mrs. Rekha R Bhimjyani holds 24.38% in Asian Warehousing Limited. |
The transaction has been determined to be a related party transaction and was executed at arm's length, aligning with prevailing market rates for similar office spaces in the area.
Regarding the terms of the agreement, there are no special rights granted under the Leave and License Agreement relating to management or capital structure. This includes provisions such as the right to appoint directors or first right to share subscription upon future share issuance.
Stock Price Movement
Asian Warehousing Ltd closed lower today, settling at ₹34.00 after shedding 0.99% in the market. Throughout the trading session, the shares moved within a substantial intraday range, testing highs near ₹35.30 before finding support down to ₹32.03.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.
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