DLF’s wholly-owned subsidiary (WOS), DLF Home Developers (DHDL) and Tulip Renewable Powertech (Tulip) have entered into a definite agreement among themselves. Accordingly, DHDL’s Tamil Nadu wind mill undertaking of 34.5 MW capacity including related assets and liabilities (including current assets and liabilities) and relevant long term loans of the said undertaking, has been transferred by DHDL to Tulip as is where is basis by way of slump sale for lump sum consideration of Rs 188.7 crore.
Besides, the company’s wholly-owned subsidiary DLF Home Developers (DHDL) and Violet Green Power (Violet) have also entered into a definite agreement among themselves, for sale of DHDL’s Rajasthan wind mill undertaking of 33 MW capacity as is where is basis by way of slump sale for lump sum consideration of Rs 52.2 crore.
Further, the above is subject to the fulfillment of the terms and conditions and requisite regulatory approvals by both the parties in accordance with the said agreement, related assets and liabilities (including current assets and liabilities) of the said undertaking along with relevant long term loans will be transferred to Violet. The transactions are in line with the DLF’s objective of divesting its non core assets.
