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Completion of the Slump and Transfer of Shares

| Updated on March 30, 2015 Published on March 30, 2015

Rico Auto Industries Ltd has informed BSE that as approved by the Shareholders and on receipt of consideration amount, the Company has :

(i). transferred its (a) Ferrous based Auto Components business division located at (i) 38 KM Delhi-Jaipur Highway, Gurgaon - 122001, Haryana; and (ii) Plot No. 84, Sector - 8, IMT Manesar, Gurgaon, Haryana (“Ferrous Undertaking”) and (b) Non-Ferrous based Auto Components business division located at Plot No. D2, Tata Motors Vendor Park, Village Sanand, P.O. Viroch Nagar, Ahmedabad -382170, Gujarat (“Non-Ferrous Undertaking”); to Rico Aluminium and Ferrous Auto Components Limited (Formerly named as RAA Autocom Limited), a step down subsidiary company, as a going concern on slump sale basis in accordance with Business Purchase Agreement executed between the Company and Rico Aluminium and Ferrous Auto Components Limited.

(ii) transferred its shareholding in the subsidiary companies namely (a) Rico Jinfei Wheels Limited; (b) Rasa Autocom Limited and (c) Rico Aluminium and Ferrous Auto Components Limited in accordance with Memorandum of Understanding executed between the Company and Rico Investments Limited, a Subsidiary Company.

Source : BSE - >www.bseindia.com

Published on March 30, 2015
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