Deals1 Dec 2025, 06:41 pm
Galaxy Agrico Exports Ltd Executes Business Transfer Agreement with Forgex Rings Private Limited
AI Summary
Galaxy Agrico Exports Ltd has executed a Business Transfer Agreement (BTA) with Forgex Rings Private Limited for the sale and transfer of its business undertaking of manufacturing and trading activity of Agricultural Equipments and Bearings (Forged Rings), including assets, liabilities, licenses, consents, approvals, employees, and contracts. The sale and transfer is on a slump sale basis, as defined under Section 2(42C) of the Income-tax Act, 1961. The Company had obtained approval of Members by passing a Special Resolution at the Annual General Meeting of the Company held on 29 September, 2025.
Key Highlights
- Galaxy Agrico Exports Ltd has executed a Business Transfer Agreement with Forgex Rings Private Limited
- The agreement covers the sale and transfer of the business undertaking of manufacturing and trading activity of Agricultural Equipments and Bearings (Forged Rings)
- The sale and transfer includes assets, liabilities, licenses, consents, approvals, employees, and contracts
- The sale is on a slump sale basis, as defined under Section 2(42C) of the Income-tax Act, 1961
- The Company had obtained approval of Members by passing a Special Resolution at the Annual General Meeting of the Company held on 29 September, 2025