By: ICN Bureau
Last updated : April 01, 2021 11:07 am
The chemical business of the Mawana Sugar Limited stands fully transferred to Bodal Chemical Limited with effect from March 31, 2021
Mawana Sugars Limited has completed transaction relating to sale and transfer of undertaking of Siel Chemical Complex (SCC) at Rajpura, Punjab to Bodal Chemicals on ‘As-is-Where-is-basis” by way of slum sale.
Accordingly, the chemical business of the Mawana Sugar Limited stands fully transferred to Bodal Chemical Limited with effect from March 31, 2021.
For this transaction, Mawana Sugars Limited will receive Rs. 137 crore subject to adjustments of net current assets and current liabilities of the undertaking.
Mawana Sugars Limited is engaged in manufacturing of sugar products - sugar, ethanol, co-generation and chemical products i.e. caustic soda and chlorine etc. whereas Bodal Chemicals is engaged in the business of manufacturing of dyes, dye intermediates and basic chemicals.