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Godrej Agrovet has entered into a sale deed dated 27 March 2020 (Sale Deed) with Godrej Properties (“GPL”) for the transfer by way of sale of a land parcel admeasuring 82 Acres and 29 Guntas(Approx.) situated at Tiruvaranga Village, Begur Village, Anugondanahalli, Hobli, Hoskote Taluka, Bangalore Rural District, Karnataka (“Relevant Land Parcel”) for a consideration of Rs.134.68 crore.
Consequent to the aforementioned transfer, the Development Management Agreement dated 23 June 2016 (DMA) entered into between the Company and GPL, for the joint development of certain parcels of land admeasuring 100 Acres (approx.) at Tiruvaranga Village, Begur Village, Anugondanahalli, Hobli, Hoskote Taluka, Bangalore Rural District, Karnataka (“Development Land”) (including the Land Parcel being sold to GPL), has been terminated.
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