Sale16 Jul 2026, 01:13 pm
Rasi Electrodes Sells Land for ₹3 Cr
AI Summary
Rasi Electrodes Ltd announced the Board's approval to sell unencumbered land measuring 227.7 cents in Tiruvallur District, Tamil Nadu, for a total consideration of ₹300 lakhs (₹3 Crores). The transaction is with an identified purchaser who is not a related party. The Board has authorized the Managing Director to finalize the Agreement for Sale. Shareholder consent was obtained via Postal Ballot and Electronic Voting under Section 180(1)(a) of the Companies Act, 2013. The sale value of ₹3 Crores is less than 1% of the company's total net worth of ₹3885.24 lakhs as of March 31, 2026, indicating it is not a material transaction in terms of net worth.
Key Highlights
- Board approves sale of 227.7 cents of land for ₹3 Crores.
- Transaction is with an unrelated third-party purchaser.
- Managing Director authorized to conclude the sale agreement.
- Shareholder approval secured through postal ballot and e-voting.
- Sale value is less than 1% of the company's net worth.
Price Impact
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