Business Update31 Jan 2026, 01:51 pm
Jumbo Bag Ltd Withdraws Lease Proposal for New Manufacturing Unit at Sasi Earth Movers, Gummidipoondi
AI Summary
Jumbo Bag Ltd has withdrawn its proposal to take a property on lease at Sasi Earth Movers, Gummidipoondi — SIPCOT, for setting up a new manufacturing unit. The decision was made after discrepancies were found in the land measurement and the building and foundation stability were evaluated by a structural engineer. Considering various technical, commercial, and operational factors, the company concluded that the property is not suitable for its requirements. Therefore, the company has decided to discontinue the project.
Key Highlights
- Jumbo Bag Ltd withdraws lease proposal for a new manufacturing unit
- Discrepancy found in land measurement between documents and physical availability
- Building and foundation stability evaluated by a structural engineer
- Company concludes property is not suitable for requirements
- Project discontinued due to unsuitability of the property