AI Champdany Industries Ltd sells property for Rs. 60 crores

The Board of Directors of AI Champdany Industries Limited at its meeting held on 23.03.2023, approved the sale of one of the non-core assets of the company situated at 39, Shalimar Road, Shibpur, Howrah which was approved by the shareholders on 21st August, 2021 by postal ballot for a consideration of Rs. 66.26 crore.

Subsequently, due to certain disputes and differences, the matter went to Arbitration for settlement. After many hearing, at the instance of the Arbitrator, settlement was reached at Rs 60 crores and the property was sold to Shakhambari Real Ventures Pvt.Ltd., a subsidiary of Eden Realty Ventures Pvt. Ltd (original Buyer).

Shares of AI CHAMPDANY INDUSTRIES LTD. was last trading in BSE at Rs. 21.90 as compared to the previous close of Rs. 23.02. The total number of shares traded during the day was 410 in over 5 trades.

The stock hit an intraday high of Rs. 23.02 and intraday low of 21.90. The net turnover during the day was Rs. 9004.00.

Source : Equity Bulls

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AICHAMPDANYINDUSTRIES INE768E01024 PropertySale