Business Update20 Apr 2024, 11:59 pm
Rasandik Engineering Industries India Ltd. Sells Idle Assets for Rs. 14 Crores to Reduce Debts
AI Summary
Rasandik Engineering Industries India Ltd. executed an Agreement to Sale on 20/04/2024, selling Industrial Plot No. A-1/2-13 & 14 (Land and Building) situated at Site-B, Surajpur Industrial Area, Greater Noida. The proceeds of this sale are being used to pay back debts to Punjab National Bank (PNB), resulting in a substantial reduction in interest cost for the company.
Key Highlights
- Company sold Idle Assets for Rs. 14 Crores
- Proceeds used to repay debts to Punjab National Bank
- Sale completed on 20/04/2024