RattanIndia Enterprises has received approval to enter into a Business Transfer Agreement with RattanIndia Technologies to purchase its Technology Business, as a going concern, on slump sale basis, for a lump sum consideration of Rs 10 lakh, without values being assigned to individual assets and liabilities, on the terms and conditions more specifically defined in the said agreement. The Board of Directors of the company in its meeting held on May 18, 2023, approved the same.
The company’s acquisition of RattanIndia Technologies' business will enable internal development of new capabilities that may take too long or be costly over a period of time. Technology acquisition can enable to create valuable knowledge-based resources and improve strategic flexibility to reduce costs and development time.
RattanIndia Enterprises is engaged in the business of Power generation, transmission and distribution of power and power advisory.
