Mukand Ltd Transfers Part of Industrial Machinery Business to Mukand Heavy Engineering Limited

Mukand Ltd has executed a Business Transfer Agreement (BTA) with its wholly owned subsidiary, Mukand Heavy Engineering Limited (MHEL), for the transfer of part of its Industrial Machinery Business. The transfer includes designing, manufacturing, erecting, and commissioning EOT Cranes, other materials handling and process plant equipment activities. The transaction is a slump sale on a going concern basis, and is expected to provide focused attention on the Transferred Business, enhanced growth opportunities, unlocking growth potentials and synergies in operational process leading to economies of scale and maximizing the stakeholder’s value.