Rushil Decor Ltd has informed BSE that the Company has executed a Business Transfer Agreement on May 27, 2014 with M/s. Salasar Agropanel Private Limited agreeing to sell the specified assets of Particle Board Manufacturing Unit situated at Survey No. 270, Village Navalgadh, Taluka Dhrangadhra, Dist. Surendranagar, Gujarat. As per terms of agreement, Company will transfer some assets on or before September 30, 2014 and other assets on or before March 31, 2015 on receipt of agreed consideration. The total consideration finalized is Rs. 1337.00 Lacs. Company has acquired prior approval of Equity Shareholders by way of Postal Ballot Process for sale, lease or otherwise dispose of the said assets.
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