At meeting held on 04 August 2021
The Board of Greaves Cotton at its meeting held on 04 August 2021 has approved the proposal for sale of Company's land bearing CTS Nos. 4663, 4664 and 4667 along with the structures standing thereon admeasuring approximately 107728.27 sq. mtrs. located at Village Akurdi, Old Mumbai Pune Highway, Anna Sahib Nagar, Pimpri - Chinchwad - 411019, Pune, Maharashtra to Runal Developers LLP for a total consideration of Rs 320 crores to be received in three tranches.Accordingly, the Company has signed a MOU with Runal Developers LLP recording the commercial understanding, which shall be subject to signing of definitive agreements on or before 31 March 2022 between the parties and necessary regulatory and statutory approvals.
Runal Developers LLP is not related to promoter or promoter group companies and the said transaction does not fall within related party transactions. The MOU does not entail granting any right related to shares or directorship to either party.
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