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Joonktollee Tea divests 100% stake in GREPL for RS 4.78 crore

25 Jan 2017 Evaluate

Joonktollee Tea & Industries has sold its 100% shareholding in its wholly owned subsidiary company, Gloster Real Estates (GREPL), for a consideration of Rs 4.78 crore. Subsequent to the aforesaid sale, Gloster Real Estates ceased to be a wholly owned subsidiary company of the company.

This step has been taken pursuant to the approval of the members of the company obtained through Postal Ballot for disposal of investments in GREPL.

Joonktollee Tea is engaged in producing tea. It also deals in other plantation crops such as coffee, pepper, cardamom, areca, vanilla, and rubber.



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