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| Exchange Disseminated Time | Chambal Fertilisers & Chemicals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 14, 2015, inter alia, has approved the transfer of its textile business, i.e., Birla Textile Mills located in Himachal Pradesh, to Sutlej Textiles and Industries Limited, as a going concern on slump sale basis. The aforesaid transaction is subject to requisite approvals as may be required.
The parties are currently negotiating and finalizing the terms of the Business Purchase Agreement and the other transaction documents, and shall sign these documents as soon as there is consensus. |
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