3rd-Jul-2012 13:40Source: BSE

Brescon Advisor - Sale of Advisory Business Undertaking

Brescon Advisors & Holdings Ltd has informed BSE that the Company has entered into binding business transfer agreement and ancillary agreement / deeds on July 02, 2012 to sale its Advisory Business Undertaking to its wholly owned subsidiary, Brescon Corporate Advisors Pvt. Ltd., as a going concern on slump sale basis.

The above transaction is in accordance with the approval given by the Board of Directors at its meeting dated February 02, 2012 and subsequently, approved by the shareholders by Postal ballot on March 22, 2012.