Grovy India

Grovy India received the 9 October 2026 order of the Income Tax Appellate Tribunal, Delhi Bench B, on 26 October 2026 in its appeal for assessment year 2020-21. The tribunal partly allowed the appeal and deleted the Rs 1 crore addition made under section 68 in respect of an unsecured loan from Nandini Tradex Pvt Ltd, holding that identity, creditworthiness and genuineness had been established. The dispute arose from a reassessment order passed in February 2025 that had treated the loan as unexplained cash credit. The company reported total income of about Rs 35.3 crore in the year to March 2026, with constructed-property sales accounting for almost all revenue. Total assets stood at about Rs 73.4 crore at the end of March, dominated by property inventory of about Rs 60.9 crore.

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Grovy India Ltd. said its board will meet on June 12, 2026 to consider a restructuring of its senior management leadership framework. The proposals include the appointment of non-executive director Prakash Chand Jalan as Managing Director cum Chairperson, replacing his current role, and the cessation of Nishit Jalan as Whole Time Director and Chief Executive Officer. Nishit Jalan would then become the Chief Financial Officer, while current CFO Ankur Jalan would cease and become a Non-Executive Director. The changes are subject to shareholder approval and other necessary clearances. The company disclosed the board meeting intimation under Regulation 29 of SEBI LODR regulations.

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Grovy India Ltd. said its board approved a preferential allotment of up to 41.7 million equity shares at ₹36 apiece, raising about ₹15 crore from promoters and a group of public investors. The issue price represents a modest discount to the prevailing market price, reflecting the company's nano-cap status. Proceeds are expected to fund ongoing real estate projects and general corporate purposes. Separately, the company proposed to increase its authorised share capital to ₹25 crore from ₹13.5 crore, signalling room for further equity expansion. The board also recommended a final dividend of ₹0.10 per share for the year ended March 2026, subject to shareholder approval at the annual general meeting scheduled for July 8. The preferential issue is the largest single equity raise in the company's recent history, equivalent to more than a quarter of its current market value. The allotment list includes promoter family members and several individual investors, suggesting a strategic rather than purely financial motive. Shareholders must approve both the capital increase and the preferential allotment at the upcoming AGM.

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May 27 (Reuters) - Grovy India Ltd GROV.BO:

• ACQUISITION OF PREMIUM LUXURY RESIDENTIAL PROJECT IN DEFENCE COLONY, NEW DELHI

Source text: ID:nBSEcfWT1P

Further company coverage: GROV.BO

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Feb 9 (Reuters) - Grovy India Ltd GROV.BO:

• GROVY INDIA LTD - BUYS LUXURY RESIDENTIAL PROJECT IN HAUZ KHAS, DELHI

• GROVY INDIA LTD - PROJECT DEVELOPMENT AREA ABOUT 15,000 SQ. FT

Source text: ID:nBSE9bWJbV

Further company coverage: GROV.BO

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May 8 (Reuters) - Grovy India Ltd GROV.BO:

• ACQUIRES NEW PROJECT IN SOUTH DELHI

Source text: ID:nBSE4bWzpv

Further company coverage: GROV.BO

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Aug 30 (Reuters) - Grovy India Ltd GROV.BO:

• TO ISSUE BONUS EQUITY SHARES IN PROPORTION OF 3:1

Source text for Eikon: ID:nBSE6Kw31K

Further company coverage: GROV.BO

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