MoU11 Dec 2025, 04:52 pm
Visaka Industries Ltd Enters MoU for Transfer of Lead Hold Rights Over Land in Chennai for Rs. 32.86 Crores
AI Summary
Visaka Industries Ltd has entered into a Memorandum of Understanding (MoU) for the transfer of balance term of leasehold rights over a 7-acre land situated at Mahindra World City Developers Ltd., Chennai. The land is being transferred to M/'s Caresoft Global Mobility Technologies Private Limited for a consideration of Rs. 32.86 crores. The transaction is expected to be completed within 60 days from the date of entering the MoU, extendable up to another 30 days. The transaction is subject to receipt of requisite approvals.
Key Highlights
- Visaka Industries Ltd has entered into a Memorandum of Understanding (MoU) for the transfer of leasehold rights over a 7-acre land in Chennai.
- The land is being transferred to M/'s Caresoft Global Mobility Technologies Private Limited for a consideration of Rs. 32.86 crores.
- The transaction is expected to be completed within 60 days from the date of entering the MoU, extendable up to another 30 days.
- The transaction is subject to receipt of requisite approvals.
- The buyer does not belong to the related promoter/promoter group of the Company.