Mukand has executed an Agreement for Sale (AFS) for the sale of land of the company admeasuring around 47 acres situated at Kalwe and Dighe, in Thane district for a consideration of Rs 806.14 crore. Of this, part consideration of around Rs 161.23 crore, (being a sum equivalent to 20% of the sale consideration) is required to be deposited by the purchaser as earnest money deposit, in an escrow account, within 7 days of execution of AFS. The aforesaid sale is subject to fulfilment of certain conditions precedent by the parties.
Mukand is a multi-division, multi-product conglomerate involved in the manufacture of specialty steel long products and heavy machinery.
