The Board of Directors of Glittek Granites Ltd., at its meeting held on 07/03/2025 at 10 a.m. to save the company from being classifying as NPA and to prevent the seizure of Assets by the Bank under SARFAESI Act has approved the sale of land owned by the Company, situated at Industrial Plot bearing No. 42 with a factory shed, having a built-up area of 3,967 Square Meters, together with open space allotted by the Karnataka Industrial Area Development Board (KIADB), situated in the Industrial State of Hoskote, measuring 18,438 Square Meters, carved out of Survey No. 81, Chokkahally Village, Hoskote Industrial Area, KasabaHobli, Hoskote Taluk, Bangalore Rural District together with all rights, title, and interest therein, to M/s. YJLINK INDIA PRIVATE LIMITED, a company incorporated under the Companies Act, 2013, bearing CIN No. U28290KA2024FTC187405 having its registered office at Unit No.10, Level 4, Splendid Plaza 515, CMR Road, 2nd Block, HRBR Layout, Kalyan Nagar, Bengaluru, Karnataka, India - 560043 for a total consideration of Rs. 39,00,00,000 (Rs. Thirty Nine Crores).
Further, the proceeds from the sale of the said land is being utilized for the settlement and disposal of the outstanding loan liability of the Company with the State Bank of India (SBI) and other creditors. Upon completion of the transaction, the said loan is to be fully repaid, and necessary formalities related to the release of charge, if any, will be completed in due course.
Shares of GLITTEK GRANITES LTD. was last trading in BSE at Rs. 3.97 as compared to the previous close of Rs. 3.79. The total number of shares traded during the day was 5778 in over 6 trades.
The stock hit an intraday high of Rs. 3.97 and intraday low of 3.79. The net turnover during the day was Rs. 22881.00. |
