Kothari Industrial Corporation Ltd approves sale of assets to Coromandel International Ltd

The Board of Directors of Kothari Industrial Corporation Limited ("Company") at its meeting held on 04th March 2023 has approved to Sell/Transfer/dispose part of the assigned land, Plant and Machinery and Building situated at Kathivakkam Village, Ennore, Chennai-600057 subject to the approval of the members in the Extra Ordinary general meeting(EGM) and Members of the company has approved the same at the EGM held on 28th March 2023.

The company executed a sale deed on 14th September 2023 with M/s. Coromandel International limited (Buyer) to sell the part of the assigned Land, Plant and Machinery and Building situated at Kathivakkam Village, Ennore, Chennai-600057. Out of a total of 45.17 acres land, 29.55 acres land has been sold to M/s. Coromandel International limited and the remaining of 15.61 acres land is with the company.

Since the above-mentioned unit was sold to M/s. Coromandel International limited, there is no operation in the Unit by the company.

Source : Equity Bulls

Keywords

KothariIndustrialCorporation AssetSale Kathivakkam Ennore CoromandelInternational