With this transaction, the existing leasehold interest of Century Textiles is merged with the ownership rights. The ten acre land parcel has a booking value potential of Rs 14,000 crore
The Board also gives in-principle nod to develop unutilised land parcels with potential to create about 3.5 msq of residential and commercial property and generate revenue of about Rs 15,000 crore in the next few years
Sebi, in its order, barred 10 entities, including Bombay Dyeing and its promoters — Nusli N Wadia, Ness Wadia and Jehangir Wadia– from the securities markets for up to two years and levied a fine totalling Rs 15.75 crore on them
They have been directed to pay the penalty within 45 days, the Securities and Exchange Board of India (Sebi) said in its order passed on Friday.
The stock, which rose 7.41 percent to Rs 108 on BSE, is down nearly three percent this year
Regulator sends show cause notice to Bombay Dyeing alleging irreguarities.
Wadia chose not to renew his contract as Managing Director of the company, that expired on March 31, 2021, Bombay Dyeing said in a regulatory filing.
The company's sales declined 60.9 percent to Rs 217.08 crore in the quarter ended September 2020 from Rs 555.25 crore in the year-ago period.