Corporate News 22-Dec-15
Board of Jai Corp approves sale of Indore unit
At meeting held on 22 December 2015
Jai Corp announced that the Board of Directors of the Company at its meeting held on 22 December 2015, has approved disposal of the Indore Unit as a going concern to a related party, Messrs India Nets, a partnership firm. The transaction is at an arm's length and based on the transaction value, the prior approval of members will not be required. The transaction was approved by the Audit Committee at a meeting held on 22 December 2015.
The sale is not expected to materially affect the performance of the Company.
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