Narendra Properties Ltd Approves Director Re-appointment and Sanctions Consultant Remunerations
Narendra Properties Ltd has announced several key corporate decisions, including the re-appointment of an Independent Director and approvals for consultancy remuneration payments to multiple directors over the next two years. The board sanctioned significant financial authorizations regarding investment limits and defined the roles of Key Managerial Personnel (KMP).The company approved the re-appointment of Ms. Kavita Patel as an Independent Director. Her appointment secures her second term, effective from December 27, 2026, through December 26, 2031. Ms. Patel is noted for possessing varied skill sets relevant to the construction industry, including aesthetic interior design, project conceptualization and execution, financial and cost management acumen, marketing, client acquisition, and client relationship management. Furthermore, the company confirmed that Ms. Patel is not related to any of the other Directors of the company.
Consultancy Remuneration Approvals
The board approved remuneration packages for several directors who will serve as consultants for the company from January 1, 2027, through December 31, 2027. These appointments include Mr. Nishank Sakariya (Non-Executive Director), Mr. Narendra C Maher (Promoter), and Mr. Narendra Sakariya (Promoter).The details of the approved transactions are presented below:
Consultancy Payments Approved (January 2027 - December 2027)
| Related Party | Nature of Relationship | Transaction Type | Duration | Value Limit |
|---|---|---|---|---|
| Mr. Nishank Sakariya | Non-Executive Director | Remuneration for consultancy services | Jan 1, 2027 to Dec 31, 2027 | Not exceeding Rs. 2,50,000/- per month |
| Mr. Narendra C Maher | Promoter | Consultancy fees | Jan 1, 2027 to Dec 31, 2027 | Not exceeding Rs 900,000 per annum |
| Mr. Narendra Sakariya | Promoter | Consultancy fees | Jan 1, 2027 to Dec 31, 2027 | Not exceeding Rs 900,000 per annum |
Corporate Authorizations and Key Personnel
In addition to the appointments, the board authorized a limit for certain financial transactions. The company is authorized to make investments, loans, and guarantees beyond the limits prescribed under Section 186 of the Companies Act, 2013, up to a sum of Rs. 50 Crores.The Board has also designated Key Managerial Personnel (KMP) who are authorized to determine the materiality of events or information and for making disclosures related to the company. These KMPs include Chirag N Maher, Managing Director, and Rishabh Haran, Company Secretary and Compliance Officer.
Stock Price Movement
As of 14:31, Narendra Properties Ltd shares are ticking up at ₹40.39, gaining 3.83% in the market. The stock moved within its intraday range, fluctuating between a low of ₹38.71 and an intraday high of ₹41.99.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.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.