Manoj Vaibhav Gems N Jewellers Limited Approves Franchise Agreement with M/s. Gontla Trading LLP
Manoj Vaibhav Gems N Jewellers Limited announced March 23, 2026, that its Audit Committee and Board of Directors have approved a franchise agreement with M/s. Gontla Trading LLP. The agreement will facilitate the operation of new jewelry stores in Ramnagar and Gajuwaka, Visakhapatnam.The Board authorized the execution of the franchise agreement and any related addendums. The opening dates for the new stores will be communicated to the stock exchanges as they are scheduled.
The Designated Partners of M/s. Gontla Trading LLP, Mr. Udaya Kumar Gontla and Mrs. Gontla Shireesha, are relatives of Mr. Rakhal Gontla, Joint Managing Director, and Mrs. Sai Keerthana Grandhi, Whole-time Director and CFO of Manoj Vaibhav Gems N Jewellers Limited. The transaction qualifies as a Related Party Transaction and will be conducted on an arm's length basis. The transaction is not considered a material related party transaction.
The Board Meeting was held from 5:30 P.M. to 6:10 P.M.
| SL. No. | Name of the Party and nature of the relationship. | Nature of transaction | Maximum Amount of transactions for FY 2026-27 (Estimated) |
|---|---|---|---|
| 1 | M/s. Gontla Trading LLP (Mother and Father of Mr. Rakhal Gontla, JMD of the Company, are the Designated Partners | Nature: Franchise Particulars of the Transaction: Sale of Bullion/Jewellery. Duration: Commencing from FY 2026-27 Material Terms: Both the Companies are in the same line of business. Sale of Jewellery in the ordinary course of business at arm's length basis Pricing will be inclusive of the franchise fee whether all factors relevant to the contract have Yes | Rs.180,00,00,000/- |
| 2 | M/s. Gontla Trading LLP (Mother and Father of Mr. Rakhal Gontla, JMD of the Company, are the Designated Partners | Nature: Franchise Particulars of the Transaction: Purchase of Bullion/Jewellery. Duration: Commencing from FY 2026-27 Material Terms: Both the Companies are in the same line of business. Purchase of Jewellery in the ordinary course of business at arm's length basis Pricing will be inclusive of the franchise fee whether all factors relevant to the contract have been considered: Yes | Rs.20,00,00,000/- |
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