Barak Valley Cements to divest 100% equity investment in Goombira Tea

Barak Valley Cements Limited has approved divestment of 100% equity investment held by the company in subsidiary Goombira Tea Company Limited.

“The members of the company in the 21st Annual General Meeting duly held on December 30, 2020, at its registered office at Debendra Nagar, Jhoombasti, P.O. Badarpurghat, Distt. Karimganj, Assam, by way of special resolution have approved divestment by way of sale, transfer or disposal of 100% equity investment held by the company in Goombira Tea Company Limited (Wholly Owned Material Subsidiary) on such terms and conditions as the Board of Directors of the company may deem fit and appropriate in the interest of the company,” Barak Valley Cements Limited said in a regulatory filing on Thursday.

According to the filing, the agreement is yet to be executed and the buyer is Sushil Kumar Sharma and its associates.