Sri Nachammai Cotton Mills to Sell Property for ₹2.15 Crore

Sri Nachammai Cotton Mills Limited announced that its Audit Committee and Board of Directors have approved the sale of immovable property located in K Krishnapuram Village, Palladam Taluk, Tiruppur District. The property, spanning 17.92 acres, will be sold 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 proposal to the Board, which subsequently approved it. The transaction is considered a related party transaction and will comply with all applicable regulations, including the Companies Act, 2013, and SEBI LODR Regulations. The Board has been authorized to finalize terms and execute necessary documents.