Arihant Academy Limited — Board Meeting, 28-12-2024: Outcome of Board Meeting

The Board of Directors has approved the acquisition of the entire business of Team Arihant Carmel Academy LLP through a slump sale for a cash consideration of ₹3 crore. This transaction, categorized as a related party transaction, is subject to shareholder approval at the upcoming Extraordinary General Meeting scheduled for January 23, 2025. The acquisition aims to enhance business performance and expand the brand under Arihant Academy Limited, leveraging synergies in the educational sector. Additionally, M/s. Dilip Swarnkar & Associates has been appointed as scrutinizer for the voting process at the EGM.