Land sale Tranche 2 execution delayed; deal not cancelled
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Galaxy Bearings could not execute the Tranche 2 land sale deed for 5,700 sq meters at Sanaswadi, Pune, to Treefac Works LLP for Rs. 150 Lakhs as scheduled on September 24, 2026, due to pending procedural formalities at the counterparty end. The transaction is still under consideration between the parties and has not been cancelled or terminated. The definitive sale deed will now be executed at a mutually agreed future date once both sides complete the required formalities.
Delay in receiving about Rs. 150 Lakhs from the land sale; deal still on but execution timeline now uncertain for shareholders.