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Cg Power And Industrial Solutions Ltd - Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (Listing Regulations) Regarding Board Of Directors Approval For The Sale Of Land.

| Updated on June 21, 2019 Published on June 21, 2019

We refer to our earlier disclosure dated October 16, 2014 and October 16, 2015 where we have informed about the sale of certain portion of land situated at Kanjurmarg, Mumbai.

In continuation of the asset optimisation initiatives taken by the Company, the Board of Directors of the Company at its meeting held on June 21, 2019 have approved entering into conveyance agreement for sale of remaining portion of Companys land situated at Kanjurmarg, Mumbai currently housing the transformer manufacturing unit admeasuring approximately 13 acres to M/s. Evie Real Estate Private Limited (Buyer) for an aggregate sum of Rs. 498.96 crores and also approved closure/ shifting of the said transformer manufacturing unit as a precondition to such sale of land.

Pdf Link: Cg Power And Industrial Solutions Ltd - Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (Listing Regulations) Regarding Board Of Directors Approval For The Sale Of Land.

Source : BSE - www.bseindia.com

Published on June 21, 2019
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