Related Keywords: approval to acquire, Birla Textile Mills, flagship company, installed capacity, K K Birla Group, negotiating and finalizing, on slump sale basis, spindles, spinning yarn, Sutlej Textile and Industries Ltd, terms of business
K.K. Birla Group flagship company Sutlej Textile and Industries Ltd has got approval from its Board of Directors to acquire another group company, Birla Textile Mills, which is a unit of Chambal Fertilisers and Chemicals Ltd located at Baddi in Himachal Pradesh, on the basis of a slump sale.
Slump sale is the transfer or sale of one or more undertakings for a lump sum where no values are assigned to individual assets and liabilities.
