Himalaya Food International Limited’s Board of Directors has approved the acquisition of the adjoining industrial unit of M/s Doon Valley Foods Private Limited for a certified valuation. Additionally, the board has sanctioned the execution of a tripartite agreement with Doon Valley Foods and Global Trade USA. This agreement aims to facilitate the set-off and adjustment of receivables due from Global Trade USA against the purchase consideration of Doon Valley Foods.
Himalaya Food International Board Approves Key Strategic Moves
Himalaya Food International Limited announced significant board resolutions following a meeting held on August 27, 2026. The company’s Board of Directors has officially approved the acquisition of the adjacent industrial unit belonging to M/s Doon Valley Foods Private Limited. This acquisition encompasses the unit’s machinery, industrial land, building, and cold storage facilities, all based on a certified valuation report.
Facilitating Acquisition Through Tripartite Agreement
To ensure seamless operations and finalize the acquisition, the Board further resolved to approve the execution of a Tripartite Agreement. This agreement will be between Himalaya Food International Limited, Doon Valley Foods Private Limited, and Global Trade USA. The primary objective of this accord is to facilitate the set-off and adjustment of receivables owed to Himalaya Food International Limited by Global Trade USA against the purchase price for Doon Valley Foods Private Limited.
Financial Implications of the Transaction
The financial outlay for Himalaya Food International Limited concerning this transaction is capped at ₹100,00,000/- (Rupees One Hundred Lakhs Only). Any remaining balance consideration will be fully adjusted against the dues owed by Global Trade USA, indicating a strategic financial arrangement to manage the acquisition costs and outstanding balances.
Authorization for Asset Sale and Compliance
In separate resolutions, the Board granted authorization to Mr. Kailash Sharma for asset sale execution and bank NOC compliance, particularly in the absence of Chairman and Managing Director, Mr. Man Mohan Malik. Mr. Sharma is empowered to sign and execute all necessary documents, including MOUs and sale deeds, for assets where No Objection Certificates (NOCs) have been issued by lender banks against a settlement balance of ₹21.50 Crores. Furthermore, the Board authorized directors and Key Managerial Personnel to finalize, sign, and file the Annual Report, Directors’ Report, financial statements, and all related disclosures with relevant authorities for the financial year.
Meeting Details
The Board of Directors’ meeting commenced at 11:30 A.M. (IST) and concluded at 02:25 P.M (IST) on August 27, 2026.
Source: BSE
