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Outcome of Board Meeting - Sale of Ship

| Updated on March 14, 2016 Published on March 14, 2016

With reference to the earlier letter dated December 22, 2015 and February 08, 2016 regarding approval for sale of ships / shipping business of the Company, Chambal Fertilisers & Chemicals Ltd has now informed BSE that the Board of Directors of the Company, on the recommendation of Audit Committee, at its meeting held on March 14, 2016 approved the sale and disposal of one of the ships of the Company viz., Ratna Puja for consideration of USD 22.5 million to Sumire Navigation Co., Liberia. The book value of the ship-Ratna Puja was INR 262.98 crore as on December 31, 2015. The sale of aforesaid ship is expected to be completed by April 30, 2016.

The Buyer does not belong to the promoter/ promoter group/group companies and the said transaction is not a related party transaction.

Source : BSE - >www.bseindia.com

Published on March 14, 2016
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