Board approves sale of Mohali land and building for 9.05 Crores

Jeena Sikho Lifecare board approved sale of its land and building in Devinagar, Mohali (Punjab) admeasuring 11 Bigha 02 Biswa 13 Biswasi to M/s VSB Enterprises for an aggregate consideration of 9.05 Crores. The carrying value of the asset was about 3.35 Crores, roughly 0.72 percent of net worth. The premises contributed around 46.47 Crores in revenue (about 6 percent of total) last year. The buyer is not related to promoters or group companies. Importantly, this is a sale and leaseback, so the company will continue using the property on lease with no disruption to operations.