Gati has received an approval to transfer express distribution and supply chain division or substantial part thereof to Redsun Supply Chain Solutions (Redsun) currently a wholly owned subsidiary of the company. The board at its meeting held on February 13, 2012 has approved for the same.
Further, the division will be transferred on a going concern basis under a business transfer agreement (BTA), along with associated assets, liabilities and employees, subject to the approvals of shareholders of the company and statutory /regulatory / other authorities, as may be required.
Gati is a leading player in express distribution and logistics and operates through two divisions - Express Distribution & Supply Chain (EDSC) and Coast- to-Coast (C2C) division.
