Deals29 May 2025, 03:06 pm
Bihar Sponge Iron Ltd. Approves Disposal of 5MW Power Plant and Repayment of Loan to Related Party
AI Summary
Bihar Sponge Iron Ltd. has approved the disposal of its 5MW power plant to G S Pharmbutor Private Limited, a related party, for a market value of Rs. 1 Crore. The plant has been non-operational for years and is technologically outdated. The company also approved entering into a Memorandum of Understanding (MOU) with G S Pharmbutor Private Limited for the repayment of an outstanding loan within a period of five years. The decision was made at the board meeting held on 29th May, 2025.
Key Highlights
- Bihar Sponge Iron Ltd. has approved the disposal of its 5MW power plant to a related party for a market value of Rs. 1 Crore.
- The power plant has been non-operational for years and is technologically outdated.
- The company also approved entering into a Memorandum of Understanding (MOU) with the related party for the repayment of an outstanding loan within a period of five years.
- The decision was made at the board meeting held on 29th May, 2025.