VIP Industries has agreed to dispose of the land and building of the Haridwar factory of the Company on ‘as-is-where-is’ basis. The operation at the said Haridwar factory of the Company has been suspended since March, 2020 due to Covid-19 Pandemic. The Company is disposing of the land and building of Haridwar factory in pieces and hence it is not a slump sale. The consideration received from such sale/disposal will be Rs 25 crore to Rs 30 crore.
VIP Industries is engaged in the manufacturing of hard luggages and soft luggages. The company operates through two segments - Luggage, Bags & Accessories, and Furniture.
