Parenteral Drugs Sell Its Kasrawad And WFI Undertakings To Infutec Healthcare
2017-12-22 Disinvestment Drugs & Pharmaceuticals Western India
Parenteral Drugs (India) Limited has informed that the board of directors of the company at its meeting approved for sale/transfer of Kasrawad and WFI undertakings of the Company on slump sale basis to Infutec Healthcare Limited and sale/transfer of investment of the Company equity shares of Infutec Healthcare Limited.
a | The amount and percentage of the turnover or revenue or income and net worth contributed by such undertaking of the company during the last financial year | Total turnover of the undertakings Rs.52.19 crores Percent to the total turnover: 100% Networth: Rs.(91.01) crores |
b | Date on which the agreement for sale has been entered into | Slump Sale agreement will be executed subject to approval of the secured lenders and shareholders |
c | The expected date of completion of sale/disposal | Subject to completion of the statutory formalities |
d | Consideration received from such sale/disposal | Consideration to be received on the conclusion of the agreement subject to terms of slump sale agreement |
e | Brief details of the change in shareholding pattern, if any of the company | There will be no change in the Shareholding pattern of the company |
f | Whether the transactions would fall within related party transactions? If yes, whether the same is done at arms length | The transaction will take place between group companies |
g | Name of the entity(ies) forming part of the Slump Sale | Kasrawad Undertaking: Village Panwa, Tehsil Kasrawad, Dist. Khargone (MP) slump sale on a going concern basis |
h | Area of the business of the entity | Manufacturing of Pharmaceuticals Products |
I | Rationale for slump sale | Part settlement of the dues of the secured creditors |
j | Brief details of buyers and whether any of the buyer belong to the promoter/promoter group companies, if yes details thereof | Infutec Healthcare Limited, a group Company |