Kranti industries limited Sale of Land and Building of Wonder Precision Private Limited a Wholly owned subsidiary of the Company.

 Pursuant to Regulation 30 and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that Wonder Precision Private Limited ('WPPL'), a Wholly Owned Subsidiary of our Company (Kranti Industries Limited), have decided and also entered into Sale Agreement ('SA') with M/S AD MECH PRODUCT PRIVATE LIMITED, for selling of the entire land and building of WPPL situated at ‘J 63, M.I.D.C. Bhosari, Pune

– 411026, Maharashtra’ (herein after referred as “Immovable Property”) in an agreed terms of the agreement.

 

Further to above, the details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR / CFD / CMD / 4 / 2015 dated 9th September, 2015, are enclosed herewith as an Annexure 1.

                                                                             Annexure-1

 

The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR / CFD / CMD / 4 / 2015 dated 9th September, 2015 is as mentioned under:

 

 

Sl. No.	Particulars					Details
a.	The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during the last financial year;					·         Turnover of the Wonder Precision Private Limited for the FY 2021-22 was Rs. 289.46 Lacs ( Rupees Two Crore Eighty Nine Lakhs Forty Six Thousand only ) (contributed to 3.09% of Consolidated revenue of the Company ) and ·         Net-worth for the FY 2021-22 was Rs (-30.93) Lacs.
b.	Date on which the agreement for sale has been entered into;					The agreement for sale entered between the parties on March 21, 2023, however, the possession of the property shall be delivered on completion of conditions precedents in the Agreement.
c.	The    expected sale/disposal;	date	of	completion	of	The expected date of Completion of the sale of Land and Building will be on and before March 27, 2023.
d.	Consideration       received      from      such sale/disposal;					Rs. 4,50,00,000/- (Rupees Four Crore and Fifty Lac only)
e.	Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof;					Brief about the Buyer: - M/S AD MECH PRODUCT PRIVATE LIMITED incorporated on 30/07/2021, having its Registered office situated at: Plot No. 201/1, gala No. 75 Moraya ond est MIDC Bhosari, Pune-411039   And further, Buyer is not belong to promoter/ promoter group/group companies
f.	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arms length”;					The Buyer is not falling under Related party of the Company.
g.	Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale.					Not Applicable