Business Update20 Jul 2026, 02:43 pm
Fluidomat Ltd Cancels Tin Shed Purchase Agreement
AI Summary
Fluidomat Ltd has mutually cancelled an agreement with Gajra Bevel Gears Limited for the purchase of a 2000 sq. mt. semi-built-up tin shed. The cancellation is due to prolonged delays in obtaining regulatory approvals from the Department of Trade and Industries, Dewas, rendering the project commercially unviable. An advance payment of ₹21,00,000 made by Fluidomat has been refunded. The company stated this cancellation will not materially impact its financial performance or ongoing operations, as its expansion project is proceeding on company-owned land.
Key Highlights
- Agreement for 2000 sq. mt. tin shed purchase cancelled by mutual consent.
- Cancellation due to regulatory approval delays making project unviable.
- ₹21 Lakh advance payment refunded by Gajra Bevel Gears.
- No material impact expected on company's financial performance.
- Expansion project continues on company-owned land.
Price Impact
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