Mumbai, Feb. 25 -- The property, located at Plot No. 4, Sector-2, I.I.E. Ranipur, Haridwar (Uttarakhand), spans approximately 12,325 square meters. As per the agreement, Sharda Motor Industries is set to receive Rs 23.05 crore within 60 days of the agreement's signing or on or before the registration of the transfer with the concerned authority, whichever comes first.

The buyer of the property is Avadh Rail Infra and the transaction is not related to the promoter, promoter group, or group companies of Sharda Motor Industries.

The agreement to transfer the leasehold rights is part of a separate transaction and is not part of the company's Scheme of Arrangement. It does not fall under the terms of regulation 37A of the Listing Regulations...