Deepak Nitrite informs about company updates

02 May 2016

With reference to the earlier announcement dated June 23, 2014 regarding Sale of parcel of land admeasuring 12,141 Sq. Mtrs, situated at Sinhagadh Road, Pune, Maharashtra, Deepak Nitrite has now informed that the Company has concluded the transaction of sale of parcel of said land for a total consideration of Rs 69.60 Crores. Further, the Company has also surrendered/assigned its lease hold right in respect of adjoining land admeasuring 8093 Sq. Mtrs, situated at Sinhagad Road, Pune for a total consideration of Rs 9.66 Crores. These transactions are not a related party transactions and the buyer is not related to the promoter/promoter group/ Key Managerial Personnel of the Company.

The above information is a part of company’s filings submitted to BSE.

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