Sale31 Mar 2025, 09:32 pm
Kohinoor Foods Ltd. Enters Tripartite Agreement for Slump Sale of Factory Unit
AI Summary
Kohinoor Foods Ltd. has entered into a tripartite agreement with the Lead Bank and RCM Consumer Products Private Limited for the sale of its Factory Unit situated at Milestone, G.T. Karnal Road, Murthal, Sonepath (Haryana)-131027. The sale is expected to be completed upon deposit of the sale proceeds with the Banks and on approval/NOC/Removal of Charge by the Banks, subject to shareholders' approval. The Factory Unit has a Book Value of Rs. 108.32 Crores and the sale will be for a value of INR 190 Crores, to be paid in Cash to the Consortium Lenders.
Key Highlights
- Kohinoor Foods Ltd. has entered into a tripartite agreement for the sale of its Factory Unit.
- The sale is expected to be completed upon deposit of the sale proceeds with the Banks and on approval/NOC/Removal of Charge by the Banks, subject to shareholders' approval.
- The Factory Unit has a Book Value of Rs. 108.32 Crores and the sale will be for a value of INR 190 Crores.
- The sale proceeds will be paid to the Lenders as per the approved One Time Settlement (OTS).
- The Company is in the process to take fresh approval from the shareholders for the sale.