Dear Sir, We hereby submit the disclosure for sell of Property of the company u/r 30 of Sebi (LODR), 2015
Price
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Awaiting price reaction for this filing.
Neeraj Paper Marketing Ltd has sold an office property at Agarwal Prestige Mall, Pitampura, New Delhi to Mrs. Leena Gupta for Rs. 60 lakhs. The property contributed only Rs. 2.1 lakh annually (0.010% of the company's total income) as rental income. The company clarified this sale does not constitute substantially the whole of the undertaking under section 180(1)(a) of the Companies Act, 2013 and does not fall under Regulation 37A of SEBI LODR. The transaction is not a related party transaction and is expected to have no impact on the company's operations.
The sale of this small non-core property for Rs. 60 lakhs is immaterial to the company's financials and operations. Shareholders should not expect any significant impact on earnings or valuations from this transaction.