Rasi Electrodes Ltd Approves Sale of Land Parcel in Tamil Nadu for Rs.300 Lakhs
Rasi Electrodes Ltd has approved a proposal to sell its unencumbered landed property situated in the Tiruvallur District of Tamil Nadu. The sale will be executed with an identified purchaser who is not a related party for a total consideration of Rs.300 lakhs.The property, located in Manjankaranai Village within Uthukottai Taluk, consists of vacant land measuring a total of 227.7 cents, which is equivalent to 2.277 acres. The land parcel includes specific measurements across several survey numbers: 88 cents in survey number 20513, 47 cents in new survey number 20514A, 45.7 cents in new survey number 20413A, and 47 cents in new survey number 20412.
The Board of Directors approved the transaction following a review of shareholder consent obtained through Postal Ballot and Electronic Voting. The proposal also received evaluation and recommendation from the Audit Committee of the Board before being finalized by the board.
| Transaction Details | Particulars |
|---|---|
| Total Consideration | Rs.300 lakhs |
| Property Area | 227.7 cents (2.277 acres) |
| Location | Manjankaranai Village, Tiruvallur District, Tamil Nadu |
| Buyer Relationship | Non-related party |
The sale will be conducted in accordance with the terms and conditions agreed upon in an Agreement for Sale to be entered into by the company for this purpose.
Stock Price Movement
As of 13:09, Rasi Electrodes Ltd shares are sliding to ₹12.50, down 0.71%. The stock is currently testing its intraday low of ₹12.50 after pulling back from a high of ₹12.99.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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