Kirloskar Electric gets shareholder nod to sell Rs 300-cr non-core assets

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.