Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Allsec Technologies Ltd to acquire CoAchieve for Rs. 16.80 crore from Quess Corp Ltd

Posted On: 2019-09-10 19:02:59


The Board of Directors of Allsec Technologies Ltd at its meeting held on 10th September, 2019 has considered and accepted the recommendations of the Audit Committee, for the purchase of HR Compliance Business of Coachieve Solutions Private Limited ('CoAchieve') as a going concern on a slump sale basis from CoAchieve for a lump sum cash consideration, without values being assigned to individual assets and liabilities as contemplated under the Income Tax Act, 1961, on such terms and conditions as contained in the Business Transfer Agreement ('BTA').

The Audit Committee and the Board of Directors have approved the execution of BTA between the Company and CoAchieve.

CoAchieve is a wholly owned subsidiary of Quess Corp Limited, a public limited company, having its registered office at Bangalore, Karnataka. CoAchieve does not have any presence outside India.

Quess Corp Limited and the Company are related parties. Accordingly, the transaction is a related party transaction. Accordingly, the transaction is undertaken at "arm's length". CoAchieve is not part of the promoter or promoter group of the Company.

The turnover of CoAchieve is approximately INR 34.94 crores as on March 31, 2019.

The acquisition of HR Compliance Business of CoAchieve pursuant to the BTA would result in growth opportunities in line with strategic directions of the Board of Directors of the Company.

The consideration to be paid for the acquisition will be INR 16,80,00,000/- (Rupees Sixteen Crores and Eighty lakhs Only).


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Polyplex Corporation Ltd board declares interim dividend of Rs. 32

ICICI Bank Ltd closes QIP, fixes price as Rs. 358

Trigyn Technologies Ltd Q1 consolidated PAT at Rs. 17.85 crore

Glenmark Pharmaceuticals Ltd Q1FY21 consolidated PAT climbs to Rs. 254.04 crore

Polyplex Corporation Ltd Q1FY21 consolidated net profit surges to Rs. 178.63 crore

New India Assurance Company Limited reports Q1FY21 earnings

BEL completes manufacturing milestone of 30,000 ventilators

Lupin Presents Phase 3 Data for Solosec® (secnidazole) Demonstrating Significant Response Rate in Female Patients with Trichomoniasis

United Breweries Ltd Q1 consolidated loss at Rs. 114.50 crore

Emkay Global Financial Services Ltd Q1FY21 consolidated PAT at Rs. 0.09 crore

Huhtamaki PPL Ltd Q2CY20 net profit at Rs. 26.72 crore

IIFL Wealth Management Ltd Q1 consolidated PAT at Rs. 82.27 crore

Delton Cables Ltd Q1 PAT at Rs. 0.12 crore

KSB Ltd posts consolidated PAT of Rs. 8.2 crore in Q2CY20

Ajanta Soya Ltd Q1 PAT at Rs. 0.68 crore

Sukhjit Starch & Chemicals Ltd Q1 consolidated loss at Rs. 1.26 crore

ADF Foods Ltd posts consolidated PAT of Rs. 8.64 crore in Q1

Cravatex Ltd Q1 consolidated loss at Rs. 6.88 crore

The Ugar Sugar Works Ltd Q1 consolidated loss at Rs. 12.29 crore

Fortis Healthcare Ltd reports consolidated loss of Rs. 178.92 crore in Q1

Vishnu Chemicals Ltd reports surge in Q1 consolidated PAT to Rs. 12.48 crore

HBL Power Systems Ltd Q1 consolidated loss at Rs. 13.63 crore

Hindustan Composites Ltd Q1 PAT falls to Rs. 1.87 crore

S Chand and Company Ltd Q1 consolidated loss at Rs. 10.46 crore

Voltamp Transformers Ltd Q1FY21 PAT up at Rs. 19.28 crore

ADOR Fontech Ltd posts 0.64 crore loss in Q1

Ahluwalia Contracts India Ltd posts Rs. 7.47 crore consolidated PAT in Q1

SUN TV Network Ltd Q1 consolidated net profit at Rs. 257.41 crore

Dilip Buildcon Ltd Q1FY21 consolidated net profit lower at Rs. 27.05 crore

Berger Paints India Ltd Q1 consolidated net profit drops to Rs. 15.42 crore

Raunaq EPC International Ltd Q1 consolidated loss at Rs. 0.78 crore

A K Capital Services Ltd posts consolidated PAT of Rs. 13.68 crore in Q1

Bodal Chemicals Ltd Q1 consolidated loss at Rs. 19.54 crore

VRL Logistics Ltd reports loss in Q1FY21

Majesco Q1FY21 Operating Revenue at Rs 311.0 crore; up 20.1% YoY

Vidhi Specialty Food Ingredients Ltd Board approves 1st interim dividend of Rs. 0.20

Kaya Limited Consolidated Revenue declined by 76% in Q1 FY21

Clariant Chemicals' Q1 Sales stood at Rs 128.9 crores

PNB Housing Finance Ltd board to consider fund raising on Aug 19, 2020

Varroc Engineering Ltd reports Q1FY21 earnings

L&T Construction commences EPC contract for hydro electric project in Assam

SJVN bags 100 MW Solar Project in Dholera Solar Park

Fortis announces its intent to rebrand as 'Parkway', a leading IHH brand

Elgi Equipments Ltd board recommends bonus issue

Singer India Limited announces Q1FY21 results

Rane Holdings Limited reports earnings for Q1 FY2020-21

Voltas Ltd announces Q1FY21 results

Softsol India Ltd Q1 consolidated net profit at Rs. 3.74 crore

WPIL Ltd posts Rs. 6.59 crore consolidated PAT in Q1

ARCEE Industries Ltd Q1 net profit at Rs. 0.53 crore







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019