This is further to our communication dated 28th January, 2020 and 12th October, 2020 whereby<BR> we had informed about the in principle decision of the Board of Directors of the Company to<BR> monetize certain tea estates and/or other assets of the Company.<BR> In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)<BR> Regulations, 2015 we hereby inform you that it has disposed of one of its real estate property<BR> named as ''Suvira House'' situated at 4B, Hungerford Street, Kolkata 7000]7, West Bengal.<BR> For the said purpose the Company has entered into a Deed of Conveyance with Hari Housing LLP<BR> (PAN: AANFH3425M ) having its office at 305, Mangalam-A, ?4, Hemanta Basu Sarani,<BR> Kolkata-70000 1.<BR> This monetization of the non- performing asset of the Company is to turn around the financial<BR> prowess, reduction in finance cost, availability of more working capital, profit earning capability<BR> of the Company, to modernize and to upgrade the remaining business assets.<BR>
|