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AKG Exim Limited has announced a postal ballot seeking shareholders' approval to sell its property at Unit Nos. 237 and 238, Tower B, Spazedge, Gurugram, to related party MLH Ventures LLP at a price not lower than the higher of two independent valuations (estimated between Rs. 196-200 Lakhs). The net proceeds will be used primarily to reduce debt and interest costs or for general business purposes. To ensure operational continuity, the company proposes an 11-month leaseback of Unit No. 237 from MLH Ventures LLP at an annual rent of Rs. 5 Lakhs. Both transactions are at arm’s length and have been approved by the Audit Committee and Board.