NIMBUS PROJECTS LTD. Disinvests Stake in Partnership Firm Indogreen International for Rs. 45.33 Crores
NIMBUS PROJECTS LTD. has announced the disinvestment of stake/ contribution in the Partnership Firm M/s Indogreen International to World Resorts Limited (WRL) for a total of Rs. 45.33 crores. This decision was made pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Regulations 23(4), 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 180(1)(a) of the Companies Act, 2013. The disinvestment was approved by the Board of Directors of the Company, following the passing of a special resolution at the 31st AGM of the Company held on Friday, September 27, 2024, and on the recommendation of the Audit Committee.
Key Highlights
- NIMBUS PROJECTS LTD. is disinvesting stake in Partnership Firm M/s Indogreen International.
- The disinvestment is for a total of Rs. 45.33 crores.
- The transaction is with World Resorts Limited (WRL).
- The decision was made in accordance with multiple regulations and the Companies Act, 2013.
- The disinvestment was approved by the Board of Directors and the Audit Committee, following a special resolution at the 31st AGM of the Company.