Kirloskar Electric Company has got shareholders' approval to sell non-core assets, including properties situated in Bengaluru, Coimbatore, Hubbale, Hyderabad, Pune and Mysore worth up to Rs 300 crore.
The shareholders also approved with requisite majority the proposal of related-party transaction for selling non-core assets and properties situated in Bengaluru, Coimbatore, Hubbale, Hyderabad, Pune and Mysore, according to a BSE filing.
According to the proposal, the board of directors had identified non-core assets and other vacant lands which have no value to operation of the company, worth up to Rs 300 crore for liquidation.
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