This is in furtherance to our intimation dated 27th March, 2026, we hereby inform you that the Board of Directors at its meeting held on 31st March, 2026, which commenced at 12:00 PM and ....
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Awaiting price reaction for this filing.
Pet Plastics Ltd (now Bharatam Ventures Limited) has entered into a Share Purchase Agreement with ANS Buggy LLP on 31st March, 2026 to transfer its entire equity stake in subsidiary Exuberant Systems Private Limited (ESPL). The company will receive Rs. 4.68 crore as consideration for the sale. ESPL was incorporated in August 2014 but contributed 0% to the company's consolidated income and net worth as of 31st March, 2025, indicating it was a dormant or non-performing subsidiary. Upon completion, ESPL will cease to be a subsidiary of the company. The buyer ANS Buggy LLP is not a promoter or related party, and the transaction is being done at arm's length.
The sale has minimal financial impact as ESPL contributed nothing to revenue or net worth. This appears to be a cleanup of non-performing assets. The Rs. 4.68 crore proceeds will add to the company's cash reserves but the subsidiary being divested was not generating any business value.