Held on 17 July 2015
Punj Lloyd announced that the Board of Directors of the Company at its meeting held on 17 July 2014 approved the execution of a Business Transfer Agreement with Punj Lloyd Industries, a 99.99% subsidiary of the Company, for sale and transfer of all or part of the undertaking of the Company engaged in the manufacturing, amongst others, of defence, aviation, aerospace, energy and shipping equipment, including missile artillery systems and related equipment for field application, air defence artillery and associated systems used for defence, internal security, border security and by paramilitary forces on slump sale basis for a lump sum consideration not exceeding Rs 180 crore payable by issue of 9000000, 0.1% cumulative redeemable preference shares of Rs 10 each at a premium of Rs 190 each by PLIL to the Company free and clear from all encumbrances.Powered by Capital Market - Live News
