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.
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