Sical Logistics Ltd to sell non-core assets for Rs. 18 crores

Sical Logistics Limited ("Company") has undertaken the sale of its non-core assets situated at Madhavaram village, Chennai, Tamil Nadu.

The non-core assets comprise a parcel of land along with building thereon, admeasuring 1 acre and 82.8 cents (79,627.68 sq.ft.) situated at Madhavaram village, Chennai, Tamil Nadu.

The aforesaid sale is in line with the resolution plan for the Company submitted by Pristine Malwa Logistics Park Private Limited and approved by the Hon'ble National Company Law Tribunal, Chennai bench, under Section 31 of Insolvency and Bankruptcy Code, 2016, as amended, vide its order dated December 08, 2022.

Roshan Foundations Limited, a public limited company bearing corporate identity number U68100TN1995PLC031998 and having its registered office at 4, Atkinson Road, lInd Floor, Vepery, Chennai, Tamil Nadu 600007, India is the Buyer.

The consideration to be received is Rs. 18,00,00,000/- ( Rupees eighteen crore only).

Source : Equity Bulls

Keywords

SicalLogistics NonCoreAssets