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Runwal Developers: "The board of directors have approved a proposal for monetization of idle land parcels of the company not being put for productive use," Kansai Nerolac Paints said in a BSE filing.
The sale is subject to completion of procedures and approvals as may be necessary in this regard
Kansai Nerolac Paints has said that its board has approved a proposal for "entering into an Agreement for Sale with Aethon Developers Pvt Ltd, subsidiary of Runwal Developers Pvt Ltd, for the sale of the company's land parcel at Lower Parel together with building thereon, for a consideration of Rs 726 crore." Accordingly, the company has entered into an Agreement for Sale with the buyer.
The land parcel, which is located in one of Mumbai's prime area Lower Parel, would be sold to Aethon Developers, an arm of Runwal Developers, as per a regulatory filing
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