Standard Industries and Peninsula Mega City Development (Peninsula Mega) have mutually agreed to terminate the term sheet and thus the term sheet stands forthwith terminated, cancelled and revoked. Pursuant to termination of term sheet the company will refund, without interest, the sum of Rs 11.00 crore, received from Peninsula Mega as advance at the time of execution of the term sheet.
The board of the company at its meeting held on October 19, 2012 has approved for the same after evaluating the progress of the said term sheet and its extensions from time to time.
Last year in June, Standard Industries had entered into a term sheet with Peninsula Mega for development of approximately 62.25 acres of the company’s leasehold land located at TTC Industrial Area, Thane Belapur Road in Navi Mumbai.
Standard Industries is into the business of textiles apparels and chemicals. The textile and apparel division is engaged in manufacturing cotton, polyester, yarn and other fabrics and mens and womens readymade garment clothing.
| Company Name | CMP |
|---|---|
| Redington | 234.90 |
| Adani Enterprises | 2218.35 |
| Amrapali Industries | 17.53 |
| Rashi Peripheral | 455.25 |
| PDS | 301.45 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: