Sawasdee Group acquires Moser Baer’s land in Noida for Rs 72 crore


The Sawasdee Group has obtained Moser Baer India’s 60,000 sq meter land through an online sale for Rs 72 crore, the Noida-put together land bunch said with respect to Wednesday (March 27).
The gathering, officially known as the Galaxy Group, has been creating private and business ventures in Greater Noida (West) and has now procured this land package in Noida’s Sector 80, the gathering said in an announcement.
“The arrangement is important for the e-closeout, where Moser Baer India Ltd’s liquidation was requested by the National Company Law Tribunal (NCLT). We have bought these benefits for an estimation of Rs 72 crore with different costs,” Sawasdee Group Chairman Pradeep Kumar Agrawalla said.
The Sawasdee Group was announced the effective bidder on Tuesday(March 26), and 25 percent of the aggregate sum was paid inside 24 hours, according to the conditions of the closeout. The remainder of the sum will be paid inside 15 days, the gathering said in an announcement.
“The complete size of the land is approx 60,000 sq meter and is a modern plot. Because of the budgetary emergency in Moser Baer India, National Company Law Tribunal (NCLT)ordered its liquidation and the land was gotten to sell through outlet firm, encouraging the whole e-closeout measure,” it said.
The whole offered sum would act naturally financed by the gathering which before long designs to dispatch a mechanical task at the area that will make a great deal of work openings.
“With network facilitating towards Noida and Jewar air terminal (coming up soon), the mechanical development will be humongous at Noida in coming occasions. We have just paid 25 percent of the estimation of the sold plot and will pay the rest sum according to the provisions of the sale. The whole venture would act naturally subsidized and we will be raising no obligation to back the task,” Agrawalla said.

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