Pursuant to the in principle decision of the Board of Directors of the Company to monetize certain tea estates and/or other assets of the Company, a Memorandum of Understanding has been entered into at Kolkata on 20th December, 2019 with Swananda Tea Private Limited, a company engaged in tea business and having its Registered Office in Assam, to dispose of Sealkotee Tea Estate to that company for a consideration of Rs 1901 lakhs, subject to necessary approvals in this regard.
