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Stock Report
Hindustan Appliances to transfer unit in Daman for Rs.625 Lacs
Posted On : 2007-03-23 08:53:09( TIMEZONE : IST )
Hindustan Appliances Ltd has announced that the Board of Directors of the Company on March 12, 2007, has resolved to transfer the business undertaking of the Company at situated Daman engaged in the business of wires drawing of electrical products on job Work basis as a going concern on slump sale basis for a consideration of Rs 625 Lacs subject to necessary approval of shareholders of the Company pursuant to section 293(1) (a) of the Companies Act 1956 and other approvals as may be required. The Company will be taking necessary steps to obtain consent of the share holders by postal ballot and same will be posted shortly.
