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Feb 12, 2013, 01.34 PM IST | Source: Moneycontrol.com

Hind Syntex enters in to share purchase agreement

Hind Syntex has entered in to share purchase agreement with Shri. Ravi Mohan, promoter and other with Shri. Manish Kumar and other acquirers for sale of 38,61,994 shares held by promoter and others in the Company, at a price of Rs 8 per share.

Hind Syntex Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 12, 2013, has considered and approved the following :1. Proposal for One Time Settlement of total dues of lenders e.g. ARCIL, Bank of India , Union Bank of India, State Bank of India and IDBI Bank Limited for Rs. 40 crores.2. Share Purchase agreement entered with Shri. Ravi Mohan, promoter and other with Shri. Manish Kumar and other acquirers for sale of 38,61,994 shares held by promoter and others in the Company, at a price of Rs. 8/- per share.Source : BSE

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