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| Exchange Disseminated Time | Maxwell Industries Ltd has informed BSE that the Company had entered into Business Purchase Agreement on June 03, 2011 with M/s. M C Spinners Pvt. Ltd for sale of Company’s Spinning Business unit situated at Cobichettipalyam, Tamil Nadu on slum sale basis for consideration of Rs.39.00 Crore (Rupees Thirty
Nine Crore) subject to fulfillment of condition precedent to Business Purchase agreement.
The Company has received the full consideration of Rs. 39.00 crore (Thirty Nine Crore) from M C Spinners Pvt. Ltd and successfully Completed the sale of Spinning Business of the Company.
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