Corporate News 06-Dec-21
Board of Indo Count Industries approves acquisition of GHCL's home textile business
At meeting held on 06 December 2021
The Board of Indo Count Industries at its meeting held on 06 December 2021 has approved (i) acquisition of Home Textile business of GHCL, which includes manufacturing facilities at Vapi, Gujarat on a going concern basis, by way of slump sale in accordance with the terms of Business Transfer Agreement and (ii) acquisition of specified assets (inventory and intellectual property) of the US subsidiary of GHCL in accordance with the terms of Asset Transfer Agreement.
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