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DEE DEVELOPMENT ENGINEERS LIMITED — Regulatory Filings 2024
Aug 28, 2024
62378_rns_2024-08-28_d1cb8d22-d4e5-47ae-b4dc-46a8947708e6.pdf
Regulatory Filings
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August 28, 2024
Listing Compliance Department
| BSE LimitedPhiroze Jeejeebhoy Tower,Dalal Street,Mumbai – 400001ScripCode:544198 | The National Stock Exchange of India Ltd.Exchange Plaza, Plot No. C/1, G Block,Bandra Kurla Complex, Bandra (E),Mumbai – 400051Symbol:DEEDEV |
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Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)
Pursuant to Regulation 30 of SEBI Listing Regulations, we would like to inform that the Company has signed a Term Sheet with a Counter Party, the name of which can not be disclosed due to commercial issue. Both Parties shall enter into a Framework Agreement for the performance of automated pipework fabrication substantially on the terms and conditions set out in this Term Sheet.
The details as required under SEBI Listing Regulations read with Circular no. SEBI/HO/CFD/CFD-PoD-1/P-CIR//2023/123 dated July 13, 2023 are enclosed as Annexure I .
This is for your information and record please.
Yours faithfully,
For DEE Development Engineers Limited
RANJAN Digitally signed by RANJAN KUMAR KUMAR SARANGI Date: 2024.08.28 13:58:03 SARANGI +05'30'
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Ranjan Kumar Sarangi Company Secretary and Compliance Officer Membership No.: F8604 Address: Unit 1, Prithla - Tatarpur Road, Village Tatarpur Dist. Palwal, Faridabad, Haryana – 121 102
DEE DEVELOPMENT ENGINEERS LIMITED
Regd. Office: Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Haryana- 121102, India Works: Unit 1, 2 & 3, Village Tatarpur, Dist. Palwal, Haryana- 121102, India T: +91 1275 248200, F: +91 1275 248314, E: [email protected], W: www.deepiping.com CIN: L74140HR1988PLC030225 GST Registration No . 06AACCD0207H1ZA
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Annexure – I
Disclosure of Information pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023:
| S.NO. | PARTICULARS | DETAILS |
|---|---|---|
| a | Name of the entity which is party to thecontract(s) | Due to commercial issue, the Companycan not disclose the name of the CounterParty. |
| b | Purpose of entering into contract | The Counter Party agrees to lease to DEEthe pipe automation equipment for theperformance of automated pipeworkfabrication along with a non-exclusivelicense to utilize. |
| c | Shareholding in the entity with whomagreement is executed | No |
| d | Significant terms of agreement | (a) The Counter Party agrees to fullyinvest the capex of the Equipment (i.e.100 % of the purchase price of theEquipment) and DEE agrees that theEquipment shall be installed at theDEE’s premises and will be operated atDEE’s cost.(b) DEEcommitstomakingtheEquipment available in all respects tothe Counter Party on an exclusive basisfor the performance of automatedpipeworkfabricationforit’sworldwide projects. DEE will sell thepipework at agreed unit rates in theFramework Agreement. The UnitRatesshallbedeveloped/agreedbetween both Parties on an open bookbasis. Two Unit Rates sets would bedeveloped, one for automated weldingand one for nonautomated welding.(c) OverheadandProfitcomponentwithinthe UnitRatesshallbedetermined as part of the open bookdevelopment of the Unit Rates.(d) Indirect costs components within theUnit Rates shall be determined as partof the open book development of theUnit Rates.(e) The Agreement will be for an initialperiod of 1year with annual renewals |
DEE DEVELOPMENT ENGINEERS LIMITED
Regd. Office: Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Haryana- 121102, India Works: Unit 1, 2 & 3, Village Tatarpur, Dist. Palwal, Haryana- 121102, India T: +91 1275 248200, F: +91 1275 248314, E: [email protected], W: www.deepiping.com CIN: L74140HR1988PLC030225 GST Registration No . 06AACCD0207H1ZA
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| the Counter Party’s sole discretionthereafter and DEE agrees with annualrenewals. Rates will be subject toannual review bythe Counter Party. | ||
|---|---|---|
| e | Extent and nature of impact onmanagement and Control of Listed Entity | Nil |
| f | Details and qualifications of the restrictionsor liability imposed upon the listed entity | DEE at its own cost and expense shallmaintain the Equipment in goodoperating condition, repair andappearance. In case of Termination, DEEshall promptly return to the locationdesignated by the Counter Party theEquipment at DEE’s Expenses. |
| g | Whether the said parties are related topromoter or promoter group. If Yes,Nature of relationship | No |
| h | Whether the transaction would fall withinrelated party transactions? If yes, the sameis done at “arms’ length” | No |
| i | In case of issuance of shares to the parties,details of the issue price, class of sharesissued | NA |
| J | Any other disclosure related to theagreement | Both Parties shall enter into a FrameworkAgreement for the performance ofautomated pipework fabricationsubstantially on the terms and conditionsset out in this Term Sheet. |
RANJAN Digitally signed by KUMAR RANJAN KUMAR SARANGI Date: 2024.08.28 14:01:04 SARANGI +05'30'
DEE DEVELOPMENT ENGINEERS LIMITED
Regd. Office: Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Haryana- 121102, India Works: Unit 1, 2 & 3, Village Tatarpur, Dist. Palwal, Haryana- 121102, India T: +91 1275 248200, F: +91 1275 248314, E: [email protected], W: www.deepiping.com CIN: L74140HR1988PLC030225 GST Registration No . 06AACCD0207H1ZA