Dhampur Bio Organics Ltd. on Monday announced a series of key decisions following its board meeting, including the proposed sale of its sugar unit in Uttar Pradesh and plans to enter the functional food business through a joint venture, the company said in an exchange filing.
The company said its board has approved the transfer of its sugar factory at Meerganj in Bareilly district as a going concern to Forever Global Enterprises Limited. The deal will be carried out on a slump sale basis, subject to necessary approvals, including from shareholders. A business transfer agreement has already been signed between the two parties.
In a separate move, the board has cleared a proposal to form a joint venture with Orgonew Private Limited. The partnership will focus on developing, manufacturing, and selling phyto bio-active based functional food products and other items for human use. A new joint venture company will be set up for this purpose, with further details to be shared after formal agreements are completed.
The board also approved changes in its leadership structure. Sandeep Kumar will step down from his role as Whole-Time Director and move into a Non-Executive Director position from May 5, 2026, subject to shareholder approval. At the same time, Nalin Kumar Gupta has been appointed as an Additional and Whole-Time Director from the same date, pending necessary approvals.
To seek shareholder approval for these decisions, the company will hold an Extraordinary General Meeting on May 18, 2026.