Prakash Constrowell Disinvests 51 % Stake In Jaikumar Real Estate
Prakash Constrowell Limited inform's that the Board has disinvested stake of 51% shares in subsidiary Jaikumar Real Estate Private Limited (JREPL). Detailed information is annexed below:
| The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during the last financial year | Revenue contributed by JREPL in company's Consolidated Revenue (FY 2016.17) is 0.22 % and Net worth contributed in Consolidated Net worth is 0.005 % |
| Date on which the agreement for sale has been entered | 31.12.2017 |
| The expected date of completion of sale/disposal | 22.02.2018 |
| consideration received from such sale/disposal | Rs. 54,57,000/- |
| Details of buyers | Prakash P. Laddha (Promoter ) |
| Whether transaction is falling in Related Party transaction /If yes, made on Arm's length basis | The transaction is based on Valuation Report provided by Chartered Accountant; falls in criteria of Related Party Transaction and same is made on arm's length basis. |
