<h1>Fluidomat Ltd Cancels Agreement for Tin Shed Purchase Due to Regulatory Delays</h1>
Fluidomat Ltd has mutually cancelled an agreement concerning the purchase of a semi-built-up tin shed from Gajra Bevel Gears Limited. The decision was made because the proposed industrial transaction could not be concluded following exceptional and prolonged delays in obtaining necessary regulatory approvals from the Department of Trade and Industries, Dewas (M.P.), making the project commercially unviable.
The agreement pertained to the purchase of a 2,000 sq. mt. semi-built-up tin shed situated on land that is part of a larger lease hold area measuring 22942 sq. mt., located in the Gajra Industrial Area 1, A.B. Road, Dewas (M.P.).
The initial advance payment made by Fluidomat Ltd toward this agreement amounted to Rs. 21,00,000/- (Rupees Twenty-One Lakhs only). The company confirmed that this advance amount has since been refunded by Gajra Bevel Gears Limited.
The cancellation reflects the difficulty in securing requisite regulatory permissions from the Department of Trade and Industries, Dewas (M.P.). Fluidomat Ltd noted that this discontinued proposal will have no material impact on the Company's financial performance or its ongoing business operations. The company added that its separate expansion project has already commenced on two acres of Company-owned land.
Details of the terminated agreement are summarized below:
| Particular | Details |
|---|---|
| Counterparty | Gajra Bevel Gears Limited Industrial Area A.B. Road, Dewas (M.P.) |
| Nature of Agreement | Purchase of 2000 sq. mt. semi built-up tin shed on 22942 sq. mt. industrial lease hold land in Gajra Industrial Area 1, Dewas (M.P). |
| Date of Execution | January 9, 2025 |
| Initial Advance Paid | Rs. 21,00,000/- |
| Termination Reason | Prolonged delays in obtaining regulatory approvals from the Department of Trade and Industries, Dewas (M.P.). |
Stock Price Movement
Closing out trade today, shares in Fluidomat Ltd. finished at ₹972.85 after falling 3.44%. Throughout the day, the stock traded within a range, hitting a low of ₹966.60 but managing an intraday high of ₹1004.90.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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