G G Engineering Ltd to sell property to reduce debt

A meeting of the board of Directors of G G Engineering Ltd was held on Thursday, 14th October,2021 at Registered Office of the company at 12.00 P.M. and has for the purpose of clearing all the debt and making the company debt free, it was decided to sell Immovable property, available at GIDC Palej, District Bharuch, Gujarat - 392220.

The Company desires to reduce its burden of debts and need liquidity for expansion of its business. For generation of capital for the above mentioned purposes, the Company shall be converting the - particular assets available to it, namely Plot No. 715 and 716, gidc palej, District Bharuch, Gujarat - 392220, admeasuring 4000 square meters along with, not in use, machineries, and mahi the liquidity generated from the same for the above purposes.

Source : Equity Bulls

Keywords

GGEngineering DebtReduction LandSale