Tulsyan NEC Limited has completed the sale of its leasehold rights for an industrial land parcel measuring 12,700 Sq. Mtrs. in Madkai Industrial Estate, Goa. The transaction, valued at ₹3.81 Crores, was executed with M/s. Mangal Iron Private Limited. The company has confirmed the receipt of the entire consideration amount for this disposal.
Industrial Land Disposal Completed
Tulsyan NEC Limited has announced the successful completion of the transfer of its leasehold rights for a substantial industrial land parcel. The property, situated at the Madkai Industrial Estate in Goa, spans an area of 12,700 Sq. Mtrs. The sale was finalized with M/s. Mangal Iron Private Limited, acting as the Buyer or its designated nominee.
Transaction Details and Consideration
The total consideration for the sale of these leasehold rights amounted to ₹3.81 Crores (Rupees Three Crores Eighty-One Lakhs only). Tulsyan NEC Limited has confirmed that the entire consideration amount has been received by the Company. This transaction marks a significant divestment of a tangible asset for the company.
Buyer and Transaction Nature
The buyer, M/s. Mangal Iron Private Limited, has been identified as a third-party buyer and is confirmed to not belong to the Promoter, Promoter Group, or Group Companies of Tulsyan NEC Limited. Furthermore, the transaction has been explicitly stated as not falling under the ambit of Related Party Transactions.
Source: BSE
