Divestment21 Apr 2026, 03:10 pm
Vardhman Polytex Board approves sale of 26-acre Ludhiana land
AI Summary
Vardhman Polytex Ltd's Board of Directors, in a meeting on April 21, 2026, approved the sale, transfer, or disposal of 26 Acre 6 Kanal 9 Marla of land at its Ludhiana Unit. This decision follows member approval via postal ballot on April 19, 2026. The transaction, which may occur in one or more tranches, aims to augment funds for repaying outstanding liabilities to lenders and supporting future growth initiatives. Chairman & Managing Director, Mr. Adish Oswal, has been authorized to finalize and execute the transaction.
Key Highlights
- Board approved sale of 26-acre land at Ludhiana Unit.
- Decision aligns with strategy to augment funds.
- Proceeds to repay liabilities and support growth.
- CMD authorized to finalize the land transaction.