Sri Nachammai Cotton Mills Sells Property for ₹2.15 Crore
Sri Nachammai Cotton Mills Limited announced that its Audit Committee and Board of Directors, in meetings held on October 6, 2026, approved the sale of immovable property. The property, located in K Krishnapuram Village, Palladam Taluk, Tiruppur District, comprises Survey numbers 124/1B, 124/2, 124/3, and 123/2B, spanning 17.92 Acres. The sale is for a consideration of ₹2,15,04,000 (₹2.15 Crore) to M/s Vanam Realty and Farmlands Private Limited. The Audit Committee recommended the disposal to the Board, noting it does not constitute the sale of substantially the whole undertaking. The transaction will comply with applicable regulations, including those for related party transactions, as the purchaser is identified as a related party.
Key Highlights
- Company approved sale of 17.92 acres of immovable property.
- Sale consideration is ₹2.15 Crore to Vanam Realty and Farmlands.
- Transaction approved by Audit Committee and Board of Directors.
- Purchaser is identified as a related party.
- Disposal does not require member approval under Section 180(1)(a).
Price Impact
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