Khandelwal Extractions Limited to lease out godowns to GAVL

The Committee of Directors of Khandelwal Extractions Limited, have considered and approved the proposal, as recommended by the Audit Committee in light of approval of board at its meeting held on 12.02.2020 for leasing out/sub letting the Company's Godowns situated at Akrampur, Magarwara Distt., Unnao. received from M/s GAVL, Mumbai, dt. 3rd July, 2021 at a rate of Rs. 8 per sq. feet plus applicable GST, for total leased out area admeasuring 23600 sq. feet. for a period of six months subject to renewal/extension. Further, the Committee also decided to lease out remaining godowns on rent against any proposal in future, as and when received, on best available terms under prevailing market conditions and circumstances.

The board also decided and approved the terms and conditions of the lease agreement to be entered into between the company and M/s GAVL, Mumbai.

Source : Equity Bulls

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