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INDAG RUBBER LTD. - Intimation Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015.<BR> Re: Commencement Of Lease Agreement For MRO Facility At Bhiwadi.
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24 Nov 2021
Dear Sir,&lt;BR&gt; &lt;BR&gt; Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that approval of Members of the Company was accorded vide resolution dated February 22, 2019 (passed through postal ballot), for leasing of MRO Facility at Bhiwadi to Elcom Systems Pvt. Limited to be constructed in two phases, on monthly rent of Rs. 36 psf which shall be increased by 12% after every 3 years, for a lease period of 9 years and 6 months, (lock -in period of 9 years).&lt;BR&gt; &lt;BR&gt; Due to ongoing COVID 19 pandemic and delay in completion of Civil Work for construction and setting up of MRO facility at Bhiwadi, Rajasthan, both the parties had mutually agreed on November 23, 2021 that the lease period of 9 years and 6 months shall commence w.e.f September 01, 2021 for a monthly rent of Rs. 36 psf on total area of 102640 sq. ft constructed under phase I.&lt;BR&gt; &lt;BR&gt; Details are enclosed.&lt;BR&gt; &lt;BR&gt; This is for your information and records.
View all announcements for INDAG RUBBER LTD. Source: BSE India

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