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| Exchange Disseminated Time 18/05/2016 14:58:54 | Spice Mobility Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 18, 2016, inter alia, transacted the following :
1. Sale/transfer of Retail business and operations of subsidiary companies to another subsidiary of the Company as a going concern
- The Board has approved the proposals received from Spice Retail Limited, a step down subsidiary Company, and its subsidiary Cellucom Retail India Private Limited for the sale/ transfer of their Retail business and operations as a going concern by way of slump sale or otherwise to another subsidiary of the Company for such consideration, with effect from such date and on such terms and conditions, as may be mutually decided and agreed to between the parties.
The said Board Meeting commenced at 10:30 a.m. and concluded at 2:20 p.m. |
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