MoU23 Apr 2024, 09:59 pm
Summit Securities Ltd: Instant Holdings to Sell Entire Shareholding in Sudarshan Electronics & TV Limited to Kojak Knits Private Limited
AI Summary
Summit Securities Ltd's wholly owned subsidiary, Instant Holdings Limited, has entered into a Memorandum of Understanding (MOU) to sell its entire shareholding in Sudarshan Electronics & TV Limited to Kojak Knits Private Limited. The sale is subject to certain conditions and expected to be completed within 30 days from the date of the MOU. Instant reported a total income of Rs. 10.01 lakhs and a net worth of Rs. 47.00 Lakhs for Sudarshan during the last financial year. The transaction value is Rs. 2,27,77,760 and Kojak Knits Private Limited is not a related party or promoter group/group company of Summit Securities Ltd.
Key Highlights
- Subsidiary Instant Holdings Limited entered MOU with Kojak Knits Private Limited to sell Sudarshan Electronics & TV Limited
- Sale expected to be completed within 30 days, subject to conditions
- Sudarshan reported a total income of Rs. 10.01 lakhs and net worth of Rs. 47.00 Lakhs in last fiscal year
- Transaction value is Rs. 2,27,77,760
- Kojak Knits Private Limited not related or promoter group/group company of Summit Securities Ltd.