"The company has stopped manufacturing operations at the said (Thane) plant due to space constraints for effluent treatment operations, storage of materials and solvents and safe manufacturing operations...," Makers Laboratories said in a filing to BSE.
The board of the company has also decided to sell and transfer the leasehold right of the company in respect of the plot of the manufacturing unit and factory buildings on it at an aggregate amount of Rs 1.30 crore, it added.
The drug firm has also decided to sell the plant and machineries etc for a expected consideration of Rs 49 lakh, Makers Laboratories said.
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