Modern Insulators has received approval to sell and transfer 100000 (100%) Equity Shares of Rs 10 each held in its wholly owned subsidiary i.e. Modern Metal High-Tech Components. Consequently, after the transfer of said shares, Modern Metal High-Tech Components will cease to be a wholly owned subsidiary of the Company. The consideration received from such sale/ disposal is Rs 10 lakh. The Board of Directors of the Company in its meeting held on June 19, 2023 has approved the same.
Modern Insulators is primarily engaged in the business of manufacturing insulators and terry towels.
