Sale27 Oct 2025, 09:31 pm
Everest Industries Ltd Receives Environmental Clearance Amendment for Land Sale, Rs. 133.86 Crores Consideration
AI Summary
Everest Industries Ltd has received an amendment in the Environment Clearance (EC) from the Ministry of Environment, Forest and Climate Change (MoEF & CC) for the sale of land at Podanur. The amendment allows for the reduction of land area, thereby adjusting the timelines for the execution of the sale deed and the receipt of the second tranche of payment. The total consideration for the sale of land is Rs. 133,85,68,000/-, payable in three tranches. The buyer, G Square Realtors Private Limited, is one of the top real estate developers in Tamil Nadu and does not belong to the promoter/promoter group/group companies. The transaction is not a related party transaction and is not part of a Scheme of Arrangement.
Key Highlights
- Everest Industries Ltd receives amendment in Environment Clearance for land sale
- Total consideration for land sale is Rs. 133.86 crores
- Payment to be received in three tranches
- G Square Realtors Private Limited is the buyer
- Transaction is not a related party transaction and not part of Scheme of Arrangement