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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Orosil Smiths India had agreed to sell its Noida property (A-89, Sector-2) to Mr. Sanidhya Garg for ₹27 Crore, with ₹5 Crore already received as advance. The remaining ₹20 Crore was to be paid via four post-dated cheques of ₹5 Crore each. All four cheques have now bounced due to 'insufficient funds' in the buyer's account, putting the entire ₹27 Crore deal at risk. The company says it is actively pursuing the matter to protect its interests and will update the exchange on further developments.
Negative for shareholders – the company is likely to lose the expected ₹27 Crore cash inflow from the property sale, which could affect liquidity and financial planning. The collapse of this deal is a setback, though the company may pursue legal remedies to recover the amount.