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| Exchange Disseminated Time 01/09/2016 18:43:25 | | Standard Industries Ltd has informed BSE that the Company has entered into a Memorandum of Understanding dated September 01, 2016, with Feat Properties Private Limited to transfer and assign all its leasehold rights in 62.25 acres of the Company’s leasehold property situated at Plot No.4 situated at Trans-Thane Creek Industrial Area in the villages of Ghansoli and Savali, Taluka Thane, District Thane (“Property”) for a consideration of Rs. 355,00,00,000/- (Rupees Three Hundred and Fifty Five Crore Only). This transfer, assignment and consideration is subject to various conditions precedent getting satisfied (including approval of MIDC) and other terms and conditions specified in the aforesaid Memorandum of Understanding. |
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