Madhuveer Com 18 Network has received approval for acquisition of the entire business of Navkar Events as a going concern, on slump sale basis, for a lump sum consideration of Rs 8 crore by the Company on the terms and conditions more specifically defined in the Business Transfer agreement (BTS) and authorization of officials of the Company to execute a business transfer agreement (BTA) between the Company and Navkar Events. (The consummation of the Transaction is subject to certain conditions precedent and closing conditions, as agreed under the terms of the Business Transfer Agreement.)
The acquisition of Navkar Events Business under the Transaction is proposed to be made in furtherance of Company's objective to expand its business. The Board of Directors of the company at their meeting held on April 27, 2023 has considered and approved the same. The Transaction is expected to be completed in approximately 60 days, subject to fulfilment and completion of conditions precedent and closing conditions as agreed under the Business Transfer Agreement.
Madhuveer Com 18 Network is engaged in the Business of Entertainment, Pharma trading and consulting.
