Subsidiary of Active Infrastructures Limited Executes Agreement to Acquire Property in Nagpur for Real Estate Development
Active Infrastructures Limited has seen its step-down subsidiary, Raghukul Shradha Realty LLP, enter into an Agreement to Sell for the acquisition of a property in Nagpur. The transaction is intended to facilitate real estate development activities aligned with the LLP's business objectives.The agreement concerns the acquisition of the immovable property located at Nagpur Improvement Trust Leasehold Plot No. 25, Civil Station Expansion Scheme, Mashruwala Marg, Cement Road, Shivaji Nagar, Nagpur - 440010. The transaction covers both the leasehold plot and the existing residential structure standing thereon.
The total consideration set for this acquisition is ₹17,85,60,000/- (Rupees Seventeen Crore Eighty Five Lakh Sixty Thousand Only). This amount is exclusive of applicable stamp duty, registration charges, and other incidental expenses.
The parties involved in the Agreement to Sell are as follows:
| Party Type | Name(s) |
|---|---|
| Purchaser | Raghukul Shradha Realty LLP, a step-down subsidiary of Active Infrastructures Limited. |
| Sellers/Vendors | Shri Udayan Govindrao Shrouti, Smt. Anita Udayan Shrouti, Shri Chidanand Udayan Shrouti, and Kumari Abhipsa Udayan Shrouti. |
The purpose of the Agreement to Sell is for the acquisition of the property for development and real estate activities. The transaction has been determined not to be a Related Party Transaction, as the Sellers are not related to the Promoter or Promoter Group of Active Infrastructures Limited. Furthermore, no nominee arrangement or potential conflict of interest arises from this agreement.
The details of the agreement include:
| Detail | Description |
|---|---|
| Acquisition Purpose | Development and real estate activities in Nagpur. |
| Consideration Amount | ₹17,85,60,000/- (Exclusive of stamp duty/registration charges). |
| Transaction Status | The transaction does not fall within the ambit of Related Party Transaction. |
| Expected Completion | The acquisition is expected to be completed upon fulfillment of the terms and conditions stipulated under the Agreement to Sell and execution of necessary transfer documents. |
The agreement specifies that the consideration will be paid according to the terms agreed between all parties, emphasizing that the completion of the transaction is subject to the fulfilment of customary terms and conditions.
ACTIVEINFR Stock Price Movement
Active Infrastructures Limited shares closed today at ₹180, managing to maintain their value throughout the trading session. The equity registered a perfectly flat performance for the day, showing no significant intraday movement.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.