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Sale Of Vessel

| Updated on March 20, 2018 Published on March 20, 2018

This is to inform you that the Company has entered into a Memorandum of Agreement with M/s. Best Oasis Limited, Hong Kong to sell its vessel M. V. Vrinda for a total consideration of USD 4.25 Million. The transaction is expected to be completed by April 6, 2018, subject to necessary approvals.

Proceeds of the sale would be used to repay debts of the Company.

The buyer does not belong to promoter/ promoters group/ group companies.

The aforesaid transaction does not fall within the definition of related party transactions and not a material related party transaction.

This is for your information and record.

Pdf Link: Sale Of Vessel

Source : BSE - www.bseindia.com

Published on March 20, 2018
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