Diligent Media Corporation has executed an Agreement to Assign, for sale/ assignment of company's non-core assets comprising of leasehold land admeasuring approximately 13,803 square meters adjacent to the company's Printing press at TTC Industrial Area, MIDC, Mahape, Navi Mumbai, Maharashtra, along with building and fixtures thereon and rights attached thereto to Pioneer eLabs or any other entity owned or controlled (with majority beneficial interest) by P. Sridhar Reddy at a consideration of Rs 54.44 crore on September 11, 2018.
The above sale / assignment shall be subject to the approval of the Shareholders of the company at the ensuing Annual General Meeting scheduled on September 21, 2018 and shall require further approval of or no-objection from the lessor viz. Maharashtra Industrial Development Corporation (MIDC).
Diligent Media Corporation publishes daily news, views, and analyses. It provides information in the areas of money, sport, entertainment, opinion, speak up, health, lifestyle, science/technology, and academy in India and internationally.
