Natco Pharma sells land in Telangana for Rs 116 crore
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Telangana: Natco Pharma has sold clear and marketable titles of land admeasuring approximately 14.38 Acres i.e., 72,358 Sq. yards (hereinafter referred to as "Immovable Property” located at Mekaguda Gram Panchayat, Nandigama Mandal, Ranga Reddy District, Telangana, India for a total consideration of Rs. 115.57 crore including certain infrastructure cost.
As no business operations of the Company are carried out on the said land and building being sold, the said sale will not have any impact on the business operations of the Company. Further the sale of the said Property does not constitute as an undertaking or substantially the whole of the undertaking for the Company in terms of section 180(1)(a) of the Companies Act, 2013.
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